Operating and financial trends in private clubs in Florida
The 2017-18 Trends in Private Clubs report
The 2017-18 Trends in Private Clubs marks the 43rd year of production for this annual report highlighting operating and financial trends of more than 200 clubs throughout Florida—the state with the highest concentration of private clubs.
This report is a nonsolicited statistical review comprised of data compiled from the latest annual reports of private clubs and associations audited by RSM US LLP. This methodology speaks to the integrity of the data and reliability of our findings.
A cursory review of the multitude of publications focused on private clubs will quickly find readers come to the same conclusion: things ain’t what they used to be!
Research over many years and close observation of the club marketplace clearly demonstrated that private clubs have had to adapt to rapid demographic, societal and financial changes, and there is no sign of those changes slowing down or abating. Clubs have had to react, or die.
The 2017-18 report highlights an increasingly important sentiment in the industry: every club has a financial story to tell. Throughout the report, clubs are guided through industry benchmarks. Concurrently, clubs are reminded that performance relative to neighboring properties is less telling than performance relative to their individual operating budgets.
While much has been made of the social changes clubs face that drive programming and amenity changes and improvement, successful clubs are good at three things above all else: a sound governance model; a keen understanding of their regulatory and legislative responsibilities and; a laser like focus on relevant metrics and key performance indicators.
The complete report is available for download. To explore these and many other financial and operational trends in the industry, download 2017-18 Trends in Private Clubs.