ClubCorp Sale: UPDATE

 

Yes, I see all of you fans reading my thoughts on the sale of CCA to KSL… I guess you must be like me and want to know what the heck is going on and asking ‘when will the plan for this deal be told?’.

Well I have not seen anything and as the midnight hour comes for this year I can only guess that if there is a plan revealed it will be at the eleventh hour…not that there is anything the thousands of members of the hundreds of country clubs owned by CCA can do about it….or is there?

I know that the members I know are very concerned with the way this deal has gone down and the treatment they have been provided since the announcement back in May that ClubCorp was selling. The many property owners around the hundreds of country clubs affected are getting very concerned with who is managing this show. Both are combined in what is felt by all as a lack of respect in their investment in the deal…the true stakeholders in this deal…not stockholders, but stakeholders.

When someone is not treated with respect what happens to the trust? The trust there will be a golf club to enjoy. The trust that there will be a place left to take family, friends and business associates to be treated with respect. The trust KSL has hoping that the members will continue to be members and continue to fork over the bucks each month to keep their club and ClubCorp running? Well, the further the time spans between the latest news and when the truth is told, the lower the trust rating by the members towards the management of the deal.

We know that the Pink Slips have been issued as is the case in most deals where change for the worst is in the plan, but is that the plan? Is it going to be left up to rumor or speculation? I guess so…so let’s begin speculating.

I first feel that there will be properties sold off. Which ones? More likely the ones where the cost of bring the facility up to standard is going to cost more than the value. Smart business and could be good news…depending on who the new buyers will be.

I also feel that deal will be to raise the membership fees, which if the raise resulted in some equity in ownership and the facilities brought up to above standards and add a resort to the properties and other added value Member Only features could be a good deal if the membership fees were reflective of the service that was going to be given.

But the balance of current events still has to be weighted to speculate further. As in most cases, membership dues have gone up recently and still no better service, no better treatment, no better management and no better facilities…so what can you trust?

Right now all you can trust is that there is a change coming. What it is, well we are left to guessing and I guess it is not going to be to anyone’s liking. What can you do? Well, if you are dues paying members I guess that is up to you….

 

Scot Duke is President of Innovative Business Golf Solutions, LLC and author of How To Play Business Golf. Mr Duke uses his 32 years of business management experience to help businesses develop to be more successful and mentor business people on how powerful of a business tool Business Golf can be towards solving many business challenges. More information on Mr Duke and Business Golf can is available at the Innovative Business Golf Solutions web-site.

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