Ginn’s Bella Collina Club Offers Invitational Memberships
To bolster member ranks and improve cash flow, the Bella Collina club on Lake Apopka, Florida announced availability of recallable golf and social memberships for non-property owners.
Palm Coast, Florida – January 25, 2009 – The concept of invitational memberships at Ginn golfing communities first surfaced during an interview with Bobby Ginn in June ’08 (story) . In an apparent move to add new members and stem the present cash flow drain, Ginn-LA (Bobby Ginn and financial partner Lubert-Adler) has taken its first step toward allowing outsiders member opportunities at one of their private clubs. The Bella Collina Club, near Orlando, Florida announced recallable golf and social memberships. Apparently, Bella Collina is the only Ginn club making the offer at this time.A communication to members from the club details the offering:
Golf Membership
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$6,000 Initiation Fee, Non-refundable
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Recallable after four years
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One year commitment
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$7,200 annual dues ($600/month)
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Ginn One Club upgrade: $8,700 annual dues ($725/month) (Ginn One Club story)
Social Membership
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$2,500 Initiation Fee, Non-refundable
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Recallable after three years
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One year commitment
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No golf privileges
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$1,200 annual dues ($100/month)
Initial Offering
For a limited time, initiation fees will be waived. Existing members are incented to invite new members through a member referral program.
Invitational memberships are commonly used even in private communities. They subsidize the huge fixed costs of running a private club until the membership ranks fill with property owner members. Ginn clubs, like many developer-owned clubs, are suffering from negative cash flow, in part because membership quotas have not been met and partly because some existing members are not paying their dues.
Now, lets see
I am not a golfer, too young for that stuff yet(72
Lets put a calculator to Ginn’s numbers.
The first year of your membership, (if you play three times a week and have no other expenses) it would cost you $84.61 to play each day.
Second and third year will be much cheaper. $46 per day.
This is an expensive sport. I will stick with walking, biking or playing tennis.
Ginn Reunion next???
Just heard that Ginn Reunion Resort will follow with invitational memberships as well. Seems that there may be some serious financial problems w/in membership if they are opening their so-called "private" resorts to Invitational Memberships?
Real Estate staff is gone, rental managers gone, VP of Sales & Marketing gone…..rumor has it that Reunion is being sold. Anyone know anything about this?
Difficult Times
Difficult times call for creative solutions. I think opening the memberships to outside residents is a great idea and a great way to offset expenses. If other people want to pay for and take advantage of the wonderful amenities I say go for it.
The club house is awesome, the golf course is one of the best I have ever played and there is virtually nobody there to enjoy the place.