Date: January, 2008
MASTERLINK CONTINUING EQUITY CONVERSION
GROWTH IN THE GOLF CLUB AND AMENITY INDUSTRY
NAPLES, FL. - Tary Kettle, the president of Masterlink Club Services, remembers the days of flying his airplane over Southwest Florida over a decade ago and seeing the reflectio
are maturing and the residents and members of golf, yacht harbor marina, and resort club communities are being offered to purchase or assume ownership of the club assets and amenities from the developer or related ownership entity.
Accepting the fact that equity conversion or developer sale of club assets will be an ongoing part of the club business for the next decade, Kettle and Masterlink have added to a long portfolio of success stories in the industry by establishing itself as a leader in the complicated conversion or sale of a club.
Equity conversion or sale indicates the members, residents, Homeowners Association, or another formal group of stakeholders will accept financial and legal responsibility of the entire club in terms worked out with the owner/developer. Many clubs have a difficult time managing this transition successfully, because the strategies that served the developer are probably not appropriate for the long-term benefit of the club.
"Significant changes in the club financial management, membership plans, bylaws, dues, etc. are almost always necessary," Kettle said. "With our experience in the club industry, we can structure a fair transaction that provides value to the owner/developer while providing the club members/residents or stakeholders a fair and efficient transaction and importantly one that will stand the test of time."
Kettle explained a key component in an equity conversion or sale is maintaining a positive environment, a focused timeline of tasks/events and the structure of the transaction that will facilitate and accomplish the conveyance and be established on sound financial footing.
"These situations can be very controversial in a community, but handled effectively it will translate into a positive experience," Kettle said. "With the record growth in the Southwest Florida market in the last decade, a great number of the clubs are nearing a point where the owner/developer is prepared for what should be a natural transition."
"This is somewhat of a natural progression since the club or amenities should migrate to a group of the most interested, vested or appropriate stakeholders in these changing times," Kettle said. "The conversion or sale of a club is significant since developers have committed millions of dollars to clubs and related amenities in the Southwest Florida market."
In addition to the equity conversion or sale projects, Masterlink, an affiliated company of the Link Related Companies based in Naples and Orlando, has also provided management, staffing and consulting services to a wide variety of entities-developers, residential communities, private or public enterprises. Included among Masterlink's clients are golf and tennis clubs, deep-water marinas, lifestyle communities and upscale shopping mixed-use developments. Recent representation includes consulting for the approximate 2,000 residential unit community (4,000 residents) of Burnt Store Marina Golf Club in the securing of interest in the community's 27 hole golf course, clubhouse, restaurant and related amenities. Masterlink Club Services has also announced it has been retained by major Southwest Florida developer Stock Development to manage the equity sale of two premier golf course clubs: The Club at Grandezza in Estero and The Club at Olde Cypress in Naples, Florida.
INFORMATION: www.masterlinkinc.com or www.thelinkrelatedcompanies.com
CONTACT: Tary Kettle (866) 434-2300 or Dave Kempton (239) 405-1709
tkettle@masterlinkinc.com or dkempton@masterlinkinc.com
December 15, 2007
Developer will sell upscale golf clubs
Stock Development is selling the golf clubs at Grandezza in Estero and Olde Cypress in North Naples.
"We aren't really in the club business," said Blaine Seivey, president of Stock community services. He said the company kept ownership of the clubs to wow potential buyers.
But since the company is no longer selling property, it no longer needs to own the clubhouses, community officials said.
He said the intent has always been to sell the clubs, potentially to the residents of the communities.
He said the company is working with MasterLink, a consulting group that has helped a dozen communities transition from being developer-owned to resident-owned.
"We cannot make any comments as to the likelihood of this happening until we have all the necessary information and have determined the consensus wishes of the golf community and all the residents of Grandezza," wrote Bob Pinnel, president of the Master Homeowners Association in a statement. "That time is many months in the future."
INFORMATION: www.masterlinkinc.com or www.thelinkrelatedcompanies.com
CONTACT: Tary Kettle (866) 434-2300 or Dave Kempton (239) 405-1709
tkettle@masterlinkinc.com or dkempton@masterlinkinc.com
December, 2007
BURNT STORE MARINA GOLF CLUB
PRODUCES RECORD MEMBERSHIP CAMPAIGN
No celebrations are scheduled however the members at Burnt Store Marina Golf Club would be justified in saluting themselves for a recent turn around in a grass roots membership drive that produced new record numbers.
Faced with the closing of their golf club and community clubhouse in March 2007 by the owner, Realmark Group, Burnt Store Marina residents organized and voted to lease the course from owner Realmark Group.
With a lease in hand for five years, plus an option for another five, the Burnt Store Marina Golf Club residents, headed by Dick Loughman, president of the master homeowners association, restored the operation of 27-hole golf course, restaurant and community clubhouse.
The club reopened in early July and in mid-November reached the 300 golf membership base. Annual association dues were increased by $400 per residential unit to accommodate the operation of the golf club, community clubhouse, restaurant and related amenities.
"We focused on the correct business model and a smart strategic plan, and the response has been very gratifying," Loughman said. "Our residents believe in this community and the club and the response to our membership drive reflects wide community optimism."
Diane Mattas, who oversees the pro shop at Burnt Store, has noted the success. "The great majority is very committed to make the club a long-term success, understanding the golf experience, restaurant, and now community center and social activities are now a focal point for the community," Mattas said.
Masterlink Club Services, a club and amenity management company based in Naples and Orlando, assisted the Homeowners Association with the leasing of the property, planning, budgeting and reopening of the club. Masterlink now operates and provides the staffing for the facility on a turnkey basis.
"The residents of Burnt Store are focused on having a successful club with value and operating with sound financial effectiveness and efficiency" Masterlink president Tary Kettle said. "We in turn took the opportunity to open and reinvigorate the operation, from clubhouse dining, community activities, to the pro shop to the condition of the course."
INFORMATION: www.masterlinkinc.com or www.thelinkrelatedcompanies.com
CONTACT: Tary Kettle (866) 434-2300 or Dave Kempton (239) 405-1709
tkettle@masterlinkinc.com or dkempton@masterlinkinc.com
Date: July 5, 2007
A club of their own -
Residents reopen golf course in deal with owner-developer
By Pete Skiba ~ pskiba@news-press.com
After more than three months, the "closed" signs are gone and the golf course at Burnt Store Marina opened for business. All thanks to the people who live there.
"The golf course belongs to the neighborhood. I'm glad they decided to reopen it," said Burnt Store Marina resident Don Carberry, 79, who lives on board his 32-foot sailboat and plays golf once a week.
"This is the first time I've come to play since they reopened."
Course owner Will Stout closed the course March 16 as unprofitable. He said his company Realmark Group lost $1.1 million a year since buying it in December 2005.
Stout offered to lease the course, clubhouse and restaurant for $1 a year plus the costs associated with running the business.
The residents put the proposition to a vote. With 1,659 residents voting, leasing the course won by a 777 margin in May. The lease could last as long as 10 years. The lease specifies that it is for five with an option for another five. Residents could withdraw from the lease at any time without penalty.
When they voted to take over the course, residents incurred a higher homeowner fee. Residents in Burnt Store Marina have been billed an additional $300 to help cover golf-course costs, which increased their fee to $760 an owner for 2007. In 2008, the dues will be $860 a year.
The yearly assessment could help reduce any deficit at the course. The residents also hired a management team, Master Link Club Service, devoted to managing golf courses, to run their course.
The management firm plans an assertive campaign to fill the rolls of the golf club's membership to keep it in the black, said Tary Kettle, Master Link president.
"So far more than 50 percent have paid the assessment," said Hans Rentsch, 73, vice president of the master homeowners association Section 22.
Rentsch played nine holes and came into the clubhouse drenched in sweat Tuesday.
"The golf course is in the best shape it's ever been in," Rentsch said. "The score, not so."
It takes 20 employees to run the pro shop and maintain the course's 27 holes, greens and fairways. The course sits on part of 125 recreational acres in the 626-acre development.
The staff also looks after the golf carts and has other duties. Master Link hired about 90 percent of the staff back that had been let go when the course closed.
"We have Ray Davis coming back as a pro on the instructional side," Kettle said. "He was very popular when the club was at its peak about 14 years ago."
Plans call for the restaurant to reopen July 14 with a staff of 11 for breakfast, lunch and special events.
"I think that the clubhouse (with its restaurant) will have more cross sharing among communities and won't just be used by golfers," said Burnt Store Marina resident Tom Woodling. "That is a great benefit."
BURNT STORE MARINA FACTS
• Location: Off Burnt Store Road with Charlotte County the northern border, Cape Coral to the south and Charlotte Harbor to the west
• 626 ares, 125 recreational acres encompassing the golf course
• 2,514 homes allowed in development. About 1,719 built as of 2006
• 1,898 residents at the marina
• 30,000 rounds of golf played on Burnt Store's 27-hole executive course in 2006
Date: May 8, 2007
EL DIABLO RETAINS HIGH RANKING
CITRUS SPRINGS, FL. - El Diablo Golf and Country Club, long considered one of Florida's premier public courses, is emerging from a period of major improvements both on and off the golf course that will allow the club to retain its lofty status.
"The golfing experience for our players at El Diablo matches the status as a world class golf course," said Bryan Bittiker, the club manager. "Not only have we elevated our customer service standards but the course conditions today tell you why it was rated 4.5 out of 5 stars when it opened and continues at that level today."
El Diablo was recently ranked by Golf Week magazine as the 17th best public course in golf rich Florida. The course, designed by Jim Fazio, has always been ranked among the state's top 20 best public courses.
"We also replaced the old wooden steps and walls with new, state-of-the-art precast steps and redi-rock walls," said Lonny Herndon, the El Diablo superintendent.
Herndon also added a waterfall and two fountains to the signature 11th hole, the third and 12th holes. Herndon also constructed a new pond near the ninth tee and will implement revamping the bunkers and adding new sand in the near future.
El Diablo, which translates into "The Devil" in Spanish, was named America's best new affordable golf course by Golf Digest magazine when it opened in 1998.
"We're excited this course continues to stand out in a very competitive industry that has been challenged in recent years," said Tary Kettle, president of MasterLink Club Services, a club and lifestyle management company under the umbrella of The Link Related Companies.
"Our staff has been quietly making improvements both on and off the course and we continue to show double digit growth in a challenging environment," Kettle said. "We are very fortunate to have an ownership group with an unwavering commitment to continue to improve El Diablo."
"The club continues to remain popular with players in the entire Central Florida market," Bittiker said. "If we continue to add value to the El Diablo experience, our growth will continue."
Bittiker also indicated they are looking to make significant improvements to the clubhouse facility in the very near future.
El Diablo is centrally located in Citrus Springs, 27 miles north of Brooksville on U.S. 41 or 12 miles southwest of Ocala and I-75.
CONTACT: Brian Bittiker (878) 886-1309 or www.eldiablogolf.com or
Tary Kettle (866) 434-2300 or tkettle@masterlinkinc.com
Date: March, 2006
MASTERLINK, SUNVEST COMMUNITIES USA
REACH EAGLEWOOD MANAGEMENT & STAFFING AGREEMENT
NAPLES, FL - MasterLink Club Services, Inc., a club management and consulting company, announced that an agreement has been reached with Sunvest Communities USA to continue management and staffing of Eaglewood Golf Club in Orlando, Fla.
Eaglewood, an 18-hole public facility with 900 residential units, was recently purchased by EW Golf Development, LLC, and an affiliated entity of Hallandale, Fla.-based Sunvest Communities USA from the Archon Group, a subsidiary of Goldman Sachs.
Sunvest USA, with properties in Florida, Arizona and Las Vegas, acquired the Eaglewood property with the intent to convert the apartment units to condominiums.
"Archon had a terrific, long standing relationship with MasterLink from both the golf course management and staffing so we're glad to have them stay in place," said Harris Friedman of Sunvest Communities USA.
MasterLink, an affiliated company of the Lifestyle-Link, Inc. related companies, provides management or consulting services to a wide variety of companies throughout Florida, including golf and tennis clubs, deep-water marinas, lifestyle communities and upscale shopping developments.
"We're excited to continue with the property," said Tary Kettle, president of MasterLink. "Eaglewood is in one of the fastest growing areas of Orlando, if not the country, and this will enable us to continue our growth in a key core area - the club industry and being a solution provider in staffing."
Eaglewood Golf Club features an 18-hole golf course, including a clubhouse with restaurant facilities, a pro shop and lighted driving range, serving as a primary amenity for the Eaglewood community.
"We will continue to operate every facet of the club as we have since taking over management," Kettle said. "With the acquisition by Sunvest, the club will continue to grow in the local market, providing residents and Orlando-area golfers a great value."
Date: September, 2005
MASTERLINK STAFFING CONTINUES
STRONG GROWTH PATTERN
NAPLES, FL. - MasterLink Club Services, Inc. has continued its growth while providing key management positions for the golf club and lifestyle industry in Florida.
Tary Kettle, president of MasterLink, indicated the company, with management or consulting agreements with many well respected lifestyle amenity, club, residential and mixed use owners and developers in the United States, will continue to grow the staffing component.
"Our goal is to be recognized as a leading solutions provider in not only the club industry but the many multi-facetted lifestyle developments, both residential and mixed-use," Kettle said. "Staffing is a continuation of what we provide, conceptualization, design, structuring and operating developments."
"The club, lifestyle developments and mixed-use development process continues to expand and this in turn raises many complex issues for owners and members," Kettle said. "Securing the proper staffing components is not a simple solution."
"Examples of our recent placements show a wide range of completed assignments, from general manager positions at clubs to turn key, core staffing at the Marina at Factory Bay on Marco Island," Kettle said.
MasterLink Club Services provides management or consulting services to a wide variety of clients, from golf and tennis clubs to deep-water marinas, lifestyle communities, upscale shopping, galleries and a variety of restaurants. The company is based in Naples with an office in Orlando
Date: March, 2005
BAYFRONT CAPTURES WATERFRONT DINING
MAGIC IN DOWNTOWN NAPLES
Kevin Stoneburner has established a new Naples scene for waterfront entertainment.
More than five years ago, Stoneburner became one of several urban pioneers when he created Bayfront in downtown Naples, Florida.
Bayfront captures the ambience of a seaside village with a combination of residential living, dining, shopping and entertainment on the Gordon River.
"When I first conceived Bayfront and its luxury lifestyle I was dedicated to smart growth, extending downtown Naples to Bayfront," Stoneburner said. "Today you can park your car at Bayfront and spend a full day or evening meandering throughout the area that is connected with walkways."
Now a new 41-slip marina is presently being added to the amenities and marketed for sale, at the entrance to Naples Bay.
The expansion will continue with the projected opening of two more mixed-use buildings, adding 11 residences to the present 156 in the first four residential buildings. The expansion will also include additional office and retail space and secured underground parking.
"Bayfront had previously emerged as a destination for living," Stoneburner said. "Now there is a terrific mix of restaurants and shops that match everything else in the area, our niche is well established and improving everyday."
Tary Kettle, president of MasterLink Club Services, has a management agreement with Bayfront regarding the marina and a consulting contract relating to the amenities.
The recent addition of Meritage gives Bayfront four unique dining experiences with Stoney's Steakhouse, IL Bellagio and Catch 22 already experiencing a successful winter season. Bayfront is also home to Café Meritage for breakfast and IL Bellagio, Catch 22 and Cafe Meritage for lunch.
Naples dining legend Cloyde Pate, famous for nearby Fifth Avenue and other Naples restaurants, operates Catch 22 and has taken notice of an expanding downtown waterfront experience and the increased traffic at Bayfront.
"Dining at Bayfront has become more than merely eating a meal, it is an evening memorable in every way from start to finish," Pate said. "The waterfront gazebo bar on the water next to the marina, Shane's Cabana Bar, allows you to enjoy entertainment and a waterfront atmosphere throughout the day."
IL Bellagio is the sister to established East Coast restaurants featuring upscale Italian cuisine. Catch 22, like IL Bellagio, is directly on the Gordon River and has redefined the fish and oyster bar experience. Stoney's Steakhouse has joined Naples' great steakhouse list with the Old World feel of a famed Chicago steakhouse.
Among the retail shops at Bayfront are Bayfront Boutique for Women, Blue Diamond Jeweler, Cerruti, Jennings of Naples, a fine china and crystal shop with home accessories and gifts and Sweet Gemellis, a cafe offering sweets, gelato, international coffees, an old fashion soda fountain and gourmet bakery. Additional shops are expected in the near future.
Premier Properties of Southwest Florida Realtors and famed luxury hair salon Robert of Philadelphia are also located at Bayfront.
"Downtown Naples has a diverse dining scene, a vibrant social setting, and people with discriminating taste," Stoneburner said. "My philosophy was to take Bayfront and blend into that scene and establish an incredible downtown Naples waterfront entertainment experience."
Date: June 22, 2004
Masterlink participates in local purchase of Hibiscus Golf Club and will participate in on going manangement
New developer/owner of Hibiscus Golf Club plans improvements
NAPLES, FL. - Location matters in Collier County, and developer David W. Nassif is betting on East Naples.
Nassif and his company, Nassif Golf Ventures LLC recently bought Hibiscus Golf Club from Miami-based Lennar Partners Inc. for $3.8 million.
The 18-hole public course is located on Rattlesnake-Hammock Road not far from U.S. 41 East.
It's in an area that has good demographics and an increasing number of homes, said Tary Kettle, president of MasterLink Club Services Inc., which will help manage the course.
Nassif hasn't mapped out a clear plan for the property, he said. But initial plans are to improve the club by evaluating and possibly enhancing the course, the clubhouse, restaurant and parking lot, Kettle said.
In general, the appearance of the club has been neglected, Kettle said.
"The whole goal is to make a better experience," he said.
That's what the customer wants, Kettle said.
"It's more appealing to the eye," Kettle said. "It's more appealing to the golfer. It's just more appealing and better received by our customer."
A new management team and golf professionals are being brought in to help, he said.
Hibiscus is a great asset that needs a little attention, Nassif said, but he wants to keep it available at a good price. Nassif is the son of the late David E. Nassif, a former partner of Jack Antaramian.
Summer prices are $25 before noon and $18 in the afternoon.
The high-season price should be around $75 in the morning and $50 in the afternoon after improvements are made to the course.
The course accommodates between 45,000 and 48,000 rounds of golf a year, Kettle said. The national average is around 30,000.
Private clubs bring in between 15,000 and 20,000, he said.
Naples doesn't have many fully private clubs, Kettle said. There are only around four or five full public courses. That's not a lot given that there are more than 80 golf courses in Collier, he said.
A private course's goal is to offer members a premium experience and break even, he said.
High private initiation fees make a public course attractive even for people who have the money for a private membership, Kettle said.
"Everybody thinks it's her majesty's game, and it's really not," he said.
by Kathryn Helmke - Naples Daily News
Date: April, 2004
MASTERLINK ADDS RANKED EL DIABLO
TO PORTFOLIO OF MANAGEMENT SERVICES
CITRUS SPRINGS, FL. - El Diablo Golf & Country Club, one of Florida's premier public golf courses, has retained MasterLink Club Services of Naples to assist with management and marketing.
El Diablo, which translates into "The Devil" in Spanish, was named America's best new affordable golf course three years ago by Golf Digest magazine. The facility has retained its ranking annually while recently completing a renovation program that makes the Jim Fazio layout more friendly to the average player.
El Diablo was recently ranked 27th in the golf course rich state, just behind Loxahatchee in Jupiter and ahead of neighbor Black Diamond Ranch (Ranch course), Olde Florida Golf Club in Naples and Orlando's Lake Nona.
"We are proceeding with planning that will increase the club's value to the Northern and Central Florida market," said Tary Kettle, president of MasterLink, a club management company. "The course deserves it's ranking and with continued improvements it will attract a greater cross section of golfers both from a regional and national standpoint."
"This property is tied to a long standing relationship MasterLink has had with the ownership group since the early 90's," Kettle said. "I'm proud of our 10 year relationship with the owner."
El Diablo announced a new family and single membership program plus an associate membership plan for individuals and families. The various plans range from $1,000 to $2,500 per year. According to Golf Digest, El Diablo continues to rank among the top 25 courses nationally with affordable rates. The rates start at $40 during the winter season.
Date: November, 2004
MASTERLINK DEVELOPING LIFESTYLE
AMENITIES FOR NAPLES COMMUNITIES
NAPLES, FL. - MasterLink Club Services, Inc. announced it would continue consulting on staffing and membership development with Antaramian Development and development partners at Naples Bay Resort.
Antaramian Development, nationally recognized for its distinctive creative vision, has over 25 years of experience in single family, condominium, and commercial and mixed-use property development from the Boston area to Southwest Florida.
"MasterLink has been established in the golf industry in developing clubs and amenities and now our association with Naples Bay enables us to work with a leading developer nationally in a project unrelated to golf," said Tary Kettle, president of MasterLink. "We're anxious to advice and develop the many lifestyle components associated with Naples Bay."
MasterLink had previously signed an agreement to assist with management and membership marketing with The Club at Olde Cypress in North Naples and Grandezza Country Club in Estero, both being developed by Stock Development of Naples.
Brian and K.C. Stock, building executives involved in the industry for the past 40 years in Wisconsin, Illinois and Minnesota, purchased the Club at Olde Cypress in 2002. Stock acquired 330 acres for development in Lely Resort in East Naples in April 2002, marking the company's entry in the Southwest Florida market.
"We're excited to be working not only with Brian and K.C. Stock but their entire development team," said Kettle. "Our goal is simply to assist that team in meeting their goals."
Date: July 21, 2003
Special Feature Story
By Greg Hardwig, Naples Daily News
MasterLink has a better idea for golf courses
NAPLES, FL. - Tary Kettle can remember the days of flying his airplane over County Road 951 and seeing nothing. It wasn't that long ago in time. But it was in terms of golf course development. Today, the 951 corridor, renamed Collier Boulevard, is teeming with golf course communities for roughly nine miles between the exit off Interstate 75 south to U.S. 41.
But with the boom in golf course development becoming more of an echo due to the economic slowdown, what Kettle and his company, MasterLink Club Services, Inc., do is even more important.
MasterLink, which has existed for nine years, assists golf courses and other similar amenities in finding better ways to run their operations. That could be anything from managing the club itself to providing seasonal staff members. The company is headquartered in Naples, with offices in Orlando, Atlanta and Pennsylvania.
Perhaps most importantly, Kettle, the president of MasterLink, reminds his customers that running a golf club is like running a business.
"A lot of people think it's just something you can turn on like a TV set, you turn it and it goes," says Kettle, who recently returned from a National Golf Course Owners Association meeting in California.
It takes a lot more to manage a club and keep it economically successful. And since that's his business, Kettle and his company have to know everyone's business and have a good read on what's going on in it, whether it's a club MasterLink works with directly or not.
Kettle sees the economic slowdown's effect on the golf course industry — especially on the membership end — coming to an end here. While he admits Southwest Florida is running out of land for courses, he believes there will be enough golfers around to fill up most of the available memberships.
The reason Kettle is optimistic about a recovery is the reason so many people are in Southwest Florida: it's a nice place to live. Because of that, the population continues to grow.
"I think for the first time in the last 24 months, 36 months, demand has diminished where actually supply, for the current time, exceeds demand," says Kettle, whose company has a management agreement with Olde Cypress and The Club at Grandézza, both Stock Development communities. "I think that will be correcting because of the rate of which new facilities will come online and the continued growth of the housing industry, and just people sheerly moving into Collier County. There may be some shifting of demographics."
Bonita Bay Group executive Ed Rodgers shares Kettle's forecast, although getting a good read in the middle of the offseason isn't easy.
"I feel confident that the golf market is in a recovery stage right now," he says. "I don't know that it'll get back to its previous levels. I think we are seeing positive signs that the golf market is going to be stronger in 2004 than it was in 2003 or 2002."
"Everything came at once: oversaturation and a bad economy," says Old Collier Golf Club's Lynn Josephson, who helped it and Olde Florida Golf Club get started from scratch. "For years, people would ask me 'Lynn, when do you think it'll stop?' I didn't think it would come as quickly as it did. People are still going to come out as long as the sun is still shining and we've got beaches. I think there will be a little bit of a lag."
While there is no doubt the sluggish economy has adversely affected Southwest Florida, the area has shown itself to be somewhat bulletproof.
Kettle doesn't foresee any clubs closing up shop, for instance, although situations like Bonita Bay Group's decision last year to pull back on The Retreat, a golf-only facility in south Lee County, could happen again.
"We operate in Orlando and the impact there has been very significant," Kettle says. "You see the impact on initiation fees, rates, rounds, everything is significantly challenged in Central Florida, whereas the Southwest market remains somewhat resilient.
"We've seen weakness in the high-end membership in the last 12 months. That's economically driven. I still believe they have the money, they're just more cautious. As I compare the economy and 9-11 and where we stand, this one still remains the most resilient."
What separates Orlando from Southwest Florida is its large number of public courses, those without that stability of membership dues to stay afloat during hard economic times.
"This market is just an initiation fee-, dues-driven market that has more demand for that product," Kettle says. "There are 100 public facilities fighting for the public fee in Orlando, with hotel business off, with fly-to travel off."
Many courses in Central Florida have responded by slashing rates and including tie-ins such as free lunches and range balls, anything to get the customers to come in.
That doesn't mean everything's OK in the golf course industry in Southwest Florida right now, however.
"I hate to say this, but we've seen the waiting list to get out grow at a faster rate than the waiting list to get in," Kettle says of area clubs. "I firmly believe that this out-of-balance situation will correct itself.
"The clubs as we know them will not decrease what they're offering or look to cut back in rights and privileges. I think they'll be able to offer what they've always offered and it will be through volumes of memberships sold that our overhang will get taken care of. We're not going to see clubs close. We're not going to see them degrade what they're offering."
"It's part of the whole cycle," says Josephson. "People wanted to go to other clubs, but they couldn't because they're on waiting lists. I'd predicted a lot of musical chairs to go on, but musical chairs can't go on if there are no new ones to get them out."
Kettle thinks that the upturn he is predicting will help alleviate the large numbers on waiting lists. At many clubs, there have to be multiple people join the club before one member is allowed to resign, making it difficult to leave. And those members still have to pay dues.
What about clubs like The Retreat, which was planned to feature a Jack Nicklaus Signature golf course and no residences? Bonita Bay Group has said it will revisit the plan.
"There may be one or two projects that get shelved or deferred," Kettle says. "We'll eventually see them resurface." And, if the forecast holds true, they'll be a part of a golf market in recovery.
"We're the last to feel it and the first to come out of it, no doubt," Josephson says. "Naples is still a very, very big attraction and the baby boomers are going to be here really shortly.
"With interest rates low, they're going to buy real estate, and then they're going to ask: 'Where do I play golf?' "
Southwest Florida has more than enough to help them out there.
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