News
Last Update :5/18/2012 NGCOA VA Partner - Traditional Golf Management
Traditional Golf Management (TGM) is an affiliate of Traditional Golf Properties (TGP). TGP is a Williamsburg, Virginia based owner of eleven semi-private and private golf courses in Virginia, North Carolina and Maryland. TGM presently operates the eleven facilities for TGP’s account and has expanded into third party management with one property each in North Carolina, New York, Virginia and Connecticut. TGM has developed an innovative business model that is based on creating a value proposition that is relevant to a larger sector of the golfing public and generating strong and sustainable financial performance by maximizing rounds volume.
Unique and Differentiated Operating Model
TGM has targeted the set of golfers who otherwise depend on public, semi-private and other entry-level private golf course options. For a modest or no entry fee and affordable monthly dues, Traditional Golf members receive unlimited golf on their home course(s) and reciprocity at all other TGP clubs. This model is not standard within the industry and allows TGM to attract and retain a high percentage of local golfers. This model has allowed TGP to leverage other available business segments such as golf packages, golf outings and to a lesser extent high yielding daily fee play.
Key Revenue Drivers
·Membership
TGM’s members pay monthly dues ranging from $165 to $450, depending upon specific market economics as they apply to their home club. Our membership numbers have increased rapidly after implementing the popular multi-course and reciprocal business model. Since 2006, TGM has increased the five course VA cluster membership from 250 to in excess of 1,000. On average, our member spends between $3,000 and $7,000 per year at the clubs (excluding initiation fees).
·Golf Packages, Golf Outings and F&B Events
The multi-course network allows TGM to maximize utilization and yield by pushing and pulling segments of players between the courses. This allows TGM to generate 30% of its business through golf outings and golf packages. Both of these segments minimize risks such as weather and allow TGM to expose the clubs to perspective members. Each club also drives food and beverage spending through utilization of the existing infrastructure for functions during non-golfing timeframes.
·Loyalty Programs
TGM maintains Loyalty Programs that target the occasional golfer and rewards them for frequency of play. These programs give preferential treatment to local players and allow us to track their play and spending habits. This segment which represents approximately 15,000 golfers in our geography is specifically marketed to generate daily fee rounds, functions, tournaments, and breed new Traditions members.
[ More News ]
|
