island gc market 2018 market analysis, september 2018 private and confidential introduction the...

GLOBAL GOLF ADVISORS EMEA Rob Hill, Partner Block 1, Newtown Business Park Newtown Mount Kennedy, Ireland globalgolfadvisors.com

The Island Golf Club

Dublin, Ireland

September 2018

Market Analysis

2

Market Analysis, September 2018

PRIVATE AND CONFIDENTIAL

TABLE OF CONTENTS

INTRODUCTION .................................................................................................................................................................................................. 3

KEY TAKEAWAYS AND RECOMMENDATIONS ................................................................................................................................................... 4

EXTERNAL MARKET ANALYSIS ............................................................................................................................................................................ 7

COMPETITIVE ANALYSIS ........................................................................................................................................................................................ 8

MEMBERSHIP PRICING COMPARISON .............................................................................................................................................................. 10

KEY COMPETITOR ANALYSIS ............................................................................................................................................................................ 19

CROSS COMPETITOR ANALYSIS ....................................................................................................................................................................... 22

INTERNAL MEMBERSHIP ANALYSIS ................................................................................................................................................................... 26

DEMOGRAPHIC PROFILE .................................................................................................................................................................................... 31

RESTRICTIONS ................................................................................................................................................................................................... 34

APPENDICES ......................................................................................................................................................................................................... 35

3



INTRODUCTION

The Island Golf Club (“IGC” or “the Club”) engaged Global Golf Advisors (“GGA”) to provide it with a detailed Market Analysis, as a

component of a new strategic plan. Given the competitive and supply factors evident in the local market, it is vital for the Club to have

a comprehensive and actionable understanding of its opportunities and limitations. GGA has focused on the following characteristics

in the club’s local market area:

1. Competitive Analysis – This analysis focused on similar clubs in Island GC’s market area. GGA compared demographic indicators

surrounding each comparable club as well as membership pricing and structures to determine any gaps or opportunities for Island

GC to adjust the Club’s current offerings.

2. Internal Analysis - This section focuses on the current member roster at Island GC, including a map of all members by home

address. GGA analysed the results and applied filters to the data to identify member demographic trends and also evaluated the

recent real estate performance of the top neighbourhoods in which Island GC members reside.

3. Demographics - Few clubs understand the demographic changes occurring around them. This is particularly evident distinguished

older private clubs.

All demographic data and diagrams in the External Market Analysis is sourced from ESRI©, a leading provider of domestic and

international data and cartography tools for market and business intelligence. All historical real estate performance statistics is sourced

from Redfin public real estate database.

4



KEY TAKEAWAYS AND RECOMMENDATIONS

GGA has analysed both the external and internal market for Island GC to determine the best opportunities for the Club to target and

attract new members through appealing membership programming which provides excellent value-for-money relative to competitors.

The following section summarizes the key observations from the Market Analysis to follow and associated recommendations for the Club

to consider:

Key Observations – Competitive Analysis

• The all-in cost of €1,580 (Joined pre 2010) and €1,795 (Joined post 2010) at The Island GC is positioned below the competitive set

average for tenured members and in line with the competitive set average of €1,743 for new members. Full membership subs in

the competitive set range from €900 to €2,500.

o A significant price gap exists in the market, with St. Anne’s being the only competitor club priced between €1,500 and

€2,200. This is favourable for IGC as it provides flexibility to increase rates in the future while still offering greater affordability

than most high-end competitors.

• IGC charges the third highest entrance fee in the competitive set, which averages €5,923. Royal Dublin Golf Club and Portmarnock

Golf Club both charge an 8x multiplier of annual subs as the entrance fee.

• Food and beverage annual levies are uncommon in the market. However, key competitors Portmarnock and Royal Dublin do

charge members an annual levy, much higher than at IGC.

• Guest fees in the local market show a clear divide between top-tier facilities and second-tier competitor golf courses. The Island

GC is appropriately positioned within the top tier of golf facilities in the local market. Based on comparable value and feedback

from tour operators, IGC guest rates are appropriately priced and have elasticity to increase if the Club can enhance the auxiliary

golf experience for guests (i.e. pre-round, post-round, caddies, etc.).

• IGC and key competitors Portmarnock, Royal Dublin and County Louth have the lowest ratio of Full Subs / Peak green fee,

indicating a very affordable membership cost that can be justified by even the ‘occasional golfer’.

• Average subs per full member equivalent (FME) at IGC is significantly lower than key competitors Portmarnock and Royal Dublin,

indicative of the discounted annual subscriptions that several member groups receive.

5



• The total annual cost of a 5-Day membership at IGC is priced above the average in the competitive set (€1,040). As a percentage

of each Club’s respective full membership, the average 5-day membership is priced at approximately two-thirds (66%) compared

to 64% at IGC.

o However, several competitors in the market do not offer a 5-Day membership. When considering the entire competitive set

for a prospective 5-day member, the IGC offering actually becomes more affordable than the competitive set average

and is price-positioned appropriately.

• IGC has an opportunity to start offering an attractive program for members aged 30-40, which is traditionally the age cohort with

the highest level of resignation at the Club. The local competitive market for this age cohort is largely untapped and attracting

more of these members will be critical to replenish the membership pipeline as the aging members transition out of the Club.

Key Observations – Demographics

• The population within a 10-minute drive of the Club is very limited but does exhibit higher average spending and income metrics

than the population further away from the Club

• The local population in the area within a 30-minute drive of the Club is approximately 825K people. Relative to competitor clubs,

The Island GC has a lower population base when shrinking the radial area to a 10-minute drive. (immediate neighbourhoods

surrounding the Club).

• Average Per Capita income within a 10-minute drive time radius is €22,865, decreasing to €20,470 at a 30-minute drive time radial.

• Relative to competitor clubs, Per capita income in the immediate neighbourhoods surrounding the Club 10-minute drive radial is

indexed at 116.6 (100=average), right in the middle of the competitive club average. Royal Dublin has the highest income profile

in the competitive set.

• The Island is one of the highest-rated courses on TripAdvisor and consistently recommended on tourism sites as one of the top

courses near Dublin. Majority of Ireland’s tourists come from Britain (nearly 3 million in 2017), and nearly 2.5 million came from

mainland Europe. Roughly, one million North Americans toured to Ireland, making up about 15% of annual tourists, and they tend

to be the biggest spenders. Almost all golf tourists are over 35 and most come with friends as opposed to a spouse or partner

6



Key Observations – Membership

• An analysis of the current member roster indicates the average age at the Club is 58 and the average member has been at the

Club for 23 years.

• There is a large group of members between the age of 70-80 (approx 185 members) which are likely to exit the club within the

next 10-15 years. Underutilization is a key factor for an aging membership profile and will drive signifignat turnover in this group.

• The large group of exiting members aged 21-36 indicates that the current intermediate membership program has an opportunity

to be more conducive to converting intermediate members into full members.

• The vast majority of Island GC members reside within the 30-minute drive radial of the Club. New members are increasingly being

sourced from areas in south Dublin, especially younger members.

7



EXTERNAL MARKET ANALYSIS

The profile of the local market contemplates the entire local area, with a focus on the 30-minute drive radial surrounding the Club. GGA’s

analysis is based on a detailed analysis of demographics, industry statistics and trends, and a sample of similar private clubs.

Exhibit 1: The Island GC Drive-Time Radials (10, 20, 30 mins) and Radials (5, 10, 20 KM)

8



COMPETITIVE ANALYSIS

GGA has completed a detailed analysis for a competitive set of clubs that was established based on input from the Club (member focus

groups) and other local market research. In order to effectively position the membership offering at The Island GC, it is important to

understand, in as much detail as possible, the membership offerings at all comparable private clubs in the local market area. The exhibit

below, lists the clubs included in the competitive sample.

Exhibit 2 – Competitive Set Overview

Club Peak Rate Tour Rate Full Sub /

Peak Rate

Members

(FME)

Average Sub

per FME

Island Golf Club €175 €145 8 558 €1,023

Howth GC €75 €75 18 404 €1,350

Malahide GC €62 - - - -

Forrest Little GC €35 €35 41 - -

Roganstown GC €55 €55 25 - -

Beaverstown GC €40 €35 21 - -

Portmarnock Links €200 €95 13 - -

Portmarnock GC €250 - 8 555 €1,315

Royal Dublin GC €175 €145 9 496 €1,952

St Annes €130 - 15

County Louth GC €125 - 7 564 €595

European €225 €191 10 - -

Competitor Average €125 €90 16.7 505 €1,303

9



Competitive Set - Key Observations

i. Guest fees in the local market show a clear divide between top tier facilities and second-tier competitor golf courses. IGC is

well appropriately positioned within the top tier of golf facilities in the local market.

ii. IGC and key competitors Portmarnock, Royal Dublin and County Louth have the lowest ratio of Full Subs / Peak green fee,

indicating a very affordable membership cost that can be justified by even the ‘occasional golfer’.

iii. Average subs per full member equivalent (FME) at IGC is significantly lower than key competitors Portmarnock and Royal

Dublin, indicative of the discounted annual subscriptions that several member groups receive.

10



MEMBERSHIP PRICING COMPARISON

One of the key questions potential members ask when evaluating clubs is, “How much will it cost per month/year?” The annual cost to

belong to a club is very important to most prospective members for Island GC and competing clubs. In order to determine how The

Island GC compares, GGA has identified the ‘annual cost to belong’ for each club in the competitive set. The calculation is based on

mandatory annual subs (operating and capital) as well as mandatory Food and Beverage Levy charges.

Exhibit 3 – Comparison of 2018 Full Membership Fees and Subs

Club

Total

Entrance

Fee 2018

Annual Subs Capital Levy

Annual Cost

Before

Levies

F&B Levy

Total

Annual

Cost 2018

Island Golf Club (Joined pre-2010) ** €10,000 €1,355 €125 €1,480 €100 €1,580

Island Golf Club (Joined 2010 or later) €10,000 €1,570 €125 €1,695 €100 €1,795

Portmarnock Links# €0 €2,500 - €2,500 - €2,500

Royal Dublin GC €13,200 €1,650 €450 €2,100 €300 €2,400

Portmarnock GC €15,200 €1,900 - €1,900 €400 €2,300

European# €6,000 €2,200 - €2,200 - €2,200

St Annes €6,000 €1,700 - €1,700 €200 €1,900

Howth GC €1,000 €1,350 €124 €1,474 - €1,474

Forrest Little GC €0 €1,441 - €1,441 - €1,441

Roganstown GC#* €0 €1,400 - €1,400 - €1,400

County Louth GC €6,000 €915 - €915 - €915

Beaverstown GC €0 €850 €50 €900 - €900

Competitor Average €5,925 €1,591 €208 €1,653 €300 €1,743

*Debenture Share price of €20,000 available but not necessary. #For-Profit Clubs

**Observations to follow will focus on the rates for members who joined prior to 2010, as this represents a larger portion of the membership and is more

representative of what the average IGC ordinary member pays on an annual basis.

11



Full Membership - Key Observations

i. The all-in cost of €1,580 (Tenured) at IGC is positioned slightly below the competitive set average of €1,743. The new member all-in

cost (€1,795) is just above the competitor average. Full membership subs in the competitive set range from €900 to €2,500.

ii. IGC charges the third highest entrance fee in the competitive set, which averages €5,925. Both Royal Dublin Golf Club and

Portmarnock Golf Club charge an 8x multiplier of annual subs as the entrance fee.

iii. Food and beverage annual levies are uncommon in the market. However, key competitors Portmarnock and Royal Dublin do charge

members an annual levy, much higher than at IGC.

iv. The membership programs in the competitive set are highly consistent in terms of the categories offered to prospective members.

The common categories across the competitive set are as follows:

a. Full Membership

b. Five Day Membership

c. Intermediate- typically offered until age 30

d. Junior

e. Non-Resident / Overseas

12



The Exhibit below helps to illustrate IGC’s current price positioning within the competitive set, as it relates to joining fees and annual costs:

Exhibit 4: Price Positioning Map – Annual Cost and Joining Fee

Island Golf Club (Joined after 2010)

Portmarnock Links

Royal Dublin GC

Portmarnock GCEuropean

Howth GC

Forrest Little GC

Roganstown GC

St Annes

County Louth GCBeaverstown GC

Competitor Average

€ -

€ 500

€ 1,000

€ 1,500

€ 2,000

€ 2,500

€ 3,000

€ - € 2,000 € 4,000 € 6,000 € 8,000 € 10,000 € 12,000 € 14,000 € 16,000

Tota

l A

nn

ua

l C

ost

Entrance Fee

13



5-Day Memberships

The 5-Day membership is an important category for IGC and a common offering in the market. The Exhibit below compares membership

pricing within the competitive set for all similar 5-Day categories where golf access is restricted, and other amenity access is similar to the

offering at IGC. Clubs are ranked in order of ‘total annual cost’ including food and beverage levy to belong as a 5-Day member:

Exhibit 5: Comparison of 5-Day Memberships

Club Annual

Dues Capital Dues

Annual Cost

Before

Minimums

F&B Levy

Total

Annual Cost

2018

% of Full

Membership

Island Golf Club €916 €125 €1,041 €100 €1,141 64%

Royal Dublin GC €1,180 €200 €1,380 €300 €1,680 70%

Portmarnock GC €1,315 - €1,315 - €1,315 57%

St Annes €980 - €980 €200 €1,180 62%

Howth GC €905 €24 €929 €75 €1,004 68%

Forrest Little GC €958 - €958 - €958 66%

Roganstown GC €850 - €850 - €850 61%

County Louth GC €595 - €595 €150 €745 81%

Beaverstown GC €540 €50 €590 - €590 66%

Total Competitor Average €915 €91 €950 €181 €1,040 66%

5-Day Membership - Key Observations

i. The total annual cost of a 5-Day membership at Island GC is priced above the average in the competitive set (€1,040). As a

percentage of each Club’s respective full membership, the Island’s pricing for this category is in line with the market average.

ii. Several competitors in the market do not offer a 5-Day membership. When considering the entire competitive set for a

prospective 5-day member, The Island GC actually becomes more affordable than the competitive set average and is

positioned similarly to the full membership positioning.

14



Exhibit 6: Key Competitor Summary of Core Memberships

Category Count Access Subs + Capital

% of Full

Subs +

Capital

Island Golf Club - Full 558 Full €1,695

Island Golf Club - 5-day 31 No Golf on weekends €1,041 61%

Portmarnock GC - Full 555 Full €1,900

Portmarnock GC - 5-day 90 No Golf on weekends €1,315 69%

Royal Dublin GC - Full 496 Full €2,100

Royal Dublin GC - 5-day 102 No Golf on weekends €1,380 66%

County Louth GC - Full 564 Full €915

County Louth GC - 5-day 86 No Golf on weekends €595 65%

Competitor Average (Full) 543 €1,653

Competitor Average (5-day) 77 €1,077 65% *Membership counts reflect latest available data

15



Intermediate Memberships

The Intermediate membership is an essential component of any Club’s ability to fill the pipeline of potential new full members. The exhibit

below compares membership pricing within the competitive set for all similar Intermediate categories to ensure that the offering at IGC

is well-aligned and provides reasonable value in the market.

Exhibit 7: Comparison of Intermediate Memberships Annual Costs

Club 19 - 24 % of Full Subs +

Capital 25 - 29

% of Full Subs

+ Capital

Island Golf Club €664 39% €1,350 80%

Howth GC €550 37% €550 37%

Forrest Little GC €400 28% €641 44%

Roganstown GC €400 29% €600 43%

Beaverstown GC €570 63% €780 87%

Portmarnock GC €1,030 54% - -

Royal Dublin GC €572 27% - -

St Annes €1,700 100% €1,700 100%

County Louth GC €330 36% €680 74%

Competitor Averages €694 47% €825 64% *Intermediate subs at The Island GC represent the midpoint of each age category and exclude F&B Levy.

Intermediate Membership - Key Observations

i. The Island GC’s total annual cost for members aged 25-29 is the second highest of any competitor after age 25. Priced at 80%

of a full membership, the discount is lower than that of the competitor average (64%). However, key competitors such as

Portmarnock and Royal Dublin offer no discount at all to this category.

ii. IGC’s total annual cost for members under age 25 is the third highest of any competitor at €664. Priced at 39% of the full

membership annual cost, the percentage-based cost for this category is lower than the competitor average of 47%.

16



iii. Entrance fee structures vary greatly but commonly incorporate a longer-term payment plan and either a discounted entrance

fee or credits that accumulate for each year of Intermediate membership and can be applied to the Full membership

entrance fee upon conversion.

17



Golf tourism and tour operated rounds are a large driver of revenue for The Island GC. In order to better understand the current offering

of the Club, GGA contacted local tour operators to gain their insight and perspective of the Club’s current offering.

Exhibit 8: Tour Operator (“TO”) SWOT

Strengths

• Island is good value for money for TO’s and they are

happy with the tour operator rates - margins are good

• Visitors love the golf course and are often surprised by it

not having the same awareness as other premium links

• Administration is responsive and flexible at the club which

is very important to TO’s

• TO’s have confidence that their clients will be well looked

after

• Less polished/formal than Portmarnock and the

understated atmosphere is appealing

Weaknesses

• Caddies can be unreliable

• Arrival and shop experience must be improved – welcome

is critical

• There is low international awareness of the Club

• Storage, changing and dining facilities for visitors are all

ranked as weaknesses by TO’s.

Opportunities

• Some weekend slots would carry a premium (4 – 6 tee

times) and would be in high demand by TO’s

• Strong Caddie program would be highly valuable –

caddies are vital for tour operator group experience

• There is opportunity to increase rates over time if value is

protected, caddies are guaranteed and course

presentation meet the highest standards

• Dedicated staff to manage TO groups on the day for

arrival, practice, caddie allocation, pace-of-play etc

would enhance the experience

Threats

• Club must continue to improve its golfing experience or

risk being left behind.

• Tour operators demand service, flexibility and value for

money.

• Poor Communication – TO’s want to know anything that

may impact their clients experience in advance of their

arrival at the club.

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Golf Tourism Summary1

• The Island Golf Club is offered as a destination on many Irish tourism sites

• Pre-determined golf packages tend to include The Island, especially ones focused around the East Coast or Dublin area

• Cost of these tours vary, averaging between €2,000 and €3,000 excluding flights (includes hotel, a week of accommodation and

5-6 courses)

• Proximity to Dublin certainly encourages tourism – The Island is one of the highest-rated courses on TripAdvisor and consistently

recommended on tourism sites as one of the top courses near Dublin

• Majority of Ireland’s tourists come from Britain (nearly 3 million in 2017), and nearly 2.5 million came from mainland Europe.

Roughly 1 million North Americans toured to Ireland, making up about 15% of their annual tourists

• 13% of tourists play golf while in Ireland

• The average golf tourist in 2013 spent €1,200, which is roughly 2.5 times the average tourist. 20% of this money is typically spent

on green fees

• North American golf tourists tend to be the biggest spenders

• Almost all golf tourists are over 35 and most come with friends as opposed to a spouse or partner

1 Golf Tourism Sources

• https://irishgolftours.com/tours/classic-links-east-coast/customise

• https://www.irishtourism.com/group-golf-tours/dublin-golf-tournament-tour/2307

• http://www.golfdigestirishtours.com/page/package/3

• https://www.irishexaminer.com/ireland/golf-tourism-nets-200m-from-163k-visitors-231040.html

• http://www.failteireland.ie/FailteIreland/media/WebsiteStructure/Documents/3_Research_Insights/5_International_Tourism_Trends/Tourism-

Facts-2017_1.pdf?ext=.pdf

• https://www.tripadvisor.ca/Attractions-g186591-Activities-c61-t60-Ireland.html

https://irishgolftours.com/tours/classic-links-east-coast/customise

https://www.irishtourism.com/group-golf-tours/dublin-golf-tournament-tour/2307

http://www.golfdigestirishtours.com/page/package/3

https://www.irishexaminer.com/ireland/golf-tourism-nets-200m-from-163k-visitors-231040.html

http://www.failteireland.ie/FailteIreland/media/WebsiteStructure/Documents/3_Research_Insights/5_International_Tourism_Trends/Tourism-Facts-2017_1.pdf?ext=.pdf

http://www.failteireland.ie/FailteIreland/media/WebsiteStructure/Documents/3_Research_Insights/5_International_Tourism_Trends/Tourism-Facts-2017_1.pdf?ext=.pdf

https://www.tripadvisor.ca/Attractions-g186591-Activities-c61-t60-Ireland.html

19



KEY COMPETITOR ANALYSIS

Portmarnock Golf Club

Overview

Within a picturesque curve of coastline, 10 miles to the north of Dublin City and only a 15-minute drive from Dublin Airport, Portmarnock

Golf Club sits majestically on a narrow tongue of shallow dune land. And as a measure of its enduring quality, it remains one of the most

respected venues in world golf. No other Irish course has been graced by so many distinguished players in a rich history encompassing

a broad sweep of significant events. It is where Arnold Palmer and Sam Snead successfully followed its serpentine route through classic

links land on their way to victory in the 1960 Canada Cup. And it is where another generation of Americans, including Phil Mickelson and

David Duval, secured a memorable Walker Cup triumph in 1991. These events, along with 19 stagings of the European Tour's Irish Open

Championship, reflect the quality of a searching examination across the link's twenty-seven holes. We look forward to warmly welcoming

you to play our Championship links, which are rated consistently at the top of national polls, including the Golf Digest rankings.

Amenities and Member Benefits:

- Full Practice facilities

- Top tier Clubhouse

- Dining room and restaurant

- 18 Hole championship course

Membership Structure

1. Ordinary 5. Overseas 9. Overseas Ordinary

2. Junior Ordinary 6. Junior 10. Overseas Junior Ordinary

3. 5 Day 7. Juvenile 11. University

4. Country 8. House

20



Royal Dublin Golf Club

Overview

Founded in 1885 by Sir John Lumsden, The Royal Dublin Golf Club is steeped in golfing history and presents a stern golfing examination

on a truly magnificent links course and is widely accepted as one of the greatest links courses in the world. The links was originally designed

by H.S.Colt, the world-famous golf architect from Sunningdale. The Royal Dublin Golf Club has hosted many Irish championships, starting

with the Irish Amateur Open back in 1894. The Royal Dublin Golf Club hosted The Carrolls Irish Open from 1983-1985 with Seve Ballesteros

winning in 1983 and 1985 and Bernhard Langer winning in 1984. The Club has also regularly hosted the Irish Amateur Close and the Irish

PGA. “Five-star golf”, “a top course”, “challenging but rewarding” are some of the comments made by our visitors after playing the links

at The Royal Dublin Golf Club. The links is a traditional out-and-back design created in 1920 by Harry Colt. In the early 2000’s the Club

enlisted links design expert Martin Hawtree to make significant changes which have been widely praised and acknowledged by many.

After these changes the links remains challenging for today’s golfer.



- 4 dining room options

- Full Practice Facilities


1. Ordinary 5 Pavilion 9 Overseas Life 13. Honorary Life

2. Life 6 House 10 Temporary Member 14. Honorary

3. Honorary Life 7 Country 11 Junior/Intermediate 15. Cadets

4. Five Day 8 Overseas 12. University Students Playing 16. Country/Overseas

21



County Louth Golf Club

Overview

Founded in 1892, County Louth Golf Club, or Baltray as it is more commonly known, has established itself as one of Ireland’s finest links

courses. Winner of the 2017 IGTOA Links course of the year and host to two Irish Opens the course stands as a par 72 and measures 7,031

yards from the Championship tee. It is situated 4 miles from the historic town of Drogheda at the mouth of the river Boyne. With the river

to the south and the Irish Sea to the east, this is Links golf at is very best, with only the muted murmur of a ships engine to break the sounds

of nature, as it quietly winds its way up river to the port. The golf course at County Louth is consistently ranked among the Top 10 courses

in Ireland. Sometimes ferocious and other times benign, it provides competition for all handicaps. In today's language it could well be

described as "user friendly". County Louth Golf Club has a tradition of hosting major National and International events both Amateur and

Professional, including the Irish Open in 2004 and 2009. It is currently host venue for the Irish Women’s Amateur Open, the East Of Ireland

Amateur Championship, and R&A Open Qualifying.



- Full Practice Facilities

- Clubhouse with Accommodations


1. Ordinary 5 Senior Life 9 Student 13. Overseas

2. Life 6 Five Day 10 Intermediate

3. Honorary 7 Lady Associate 11 Senior Intermediate

4. Veteran 8 Junior 12. Pavilion

22



CROSS COMPETITOR ANALYSIS

The Cross-competitor section, to follow, highlights the strengths and weaknesses of the facility’s location compared to a selection of

facilities which GGA believes to be key competitors, by providing key demographic indicators within a 10-minute drive time radius of

the Club and its key competitors.

23



0

20,000

40,000

60,000

80,000

100,000

120,000

County Louth

Golf Course

Beaverstown

Golf Course

The Island Golf

Course

Portmarnock

Golf Club

Howth Golf

Course

Roganstown

Golf & Country

Club

Royal Dublin

Golf Course

Malahide Golf

Course

Forrest Little Golf

Course

Exhibit 9: 2017 Total Population (10 Minute Drive Radial)

2017 Total Population Age 0-14 2017 Total Population Age 15-29 2017 Total Population Age 30-44

2017 Total Population Age 45-59 2017 Total Population Age 60+

24



96.8102.2 102.6

112.2 116.6 117.8 120.5 123.5 127.2

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

County Louth

Golf Course

Forrest Little

Golf Course

Roganstown

Golf & Country

Club

Malahide Golf

Course

The Island Golf

Course

Beaverstown

Golf Course

Portmarnock

Golf Club

Howth Golf

Course

Royal Dublin

Golf Course

Exhibit 10: 2017 Purchasing Power: Index

309522 607

1,1671,475

2,2292,646

2,898

4,975

0

1,000

2,000

3,000

4,000

5,000

6,000

County Louth

Golf Course

Beaverstown

Golf Course

The Island Golf

Course

Portmarnock

Golf Club

Howth Golf

Course

Roganstown

Golf & Country

Club

Royal Dublin

Golf Course

Malahide Golf

Course

Forrest Little

Golf Course

Exhibit 11: 2017 Pop 15+/Edu: Ordinary Bachelor's Degree or National Diploma

25



99.6100.8

101.9

108.2

112.9114.0 114.5

116.4 116.6

90.0

95.0

100.0

105.0

110.0

115.0

120.0

County Louth

Golf Course

Forrest Little

Golf Course

Roganstown

Golf & Country

Club

Malahide Golf

Course

The Island Golf

Course

Beaverstown

Golf Course

Portmarnock

Golf Club

Howth Golf

Course

Royal Dublin

Golf Course

Exhibit 12: 2017 Toys, Games, Hobby, Sports, Garden, & Pets Expenditures: Index

26



INTERNAL MEMBERSHIP ANALYSIS

It is important to understand the residential patterns and demographics of existing members. The Exhibit below highlights the category

count, age and tenure as a member of the Club:

Exhibit 13: Member Category Profile

Category Members Average Tenure Average Age Annual Subs

Ordinary (Joined Pre 2010) 576 25 62

€1,580

Ordinary (Joined Post 2010) €1,795

Under 16 60 2 14 €162

Senior 48 41 83 -

Outport 34 24 50 €550

5 Day 32 21 65 €1,116

Intermediate 17 7 23 339-1481

Overseas 15 6 58 €832

Junior 14 4 17 €216

Honorary 13 34 73 -

International 5 4 26 -

Officer 5 28 66 €225

Female Associate 4 31 63 €935

Temporary 1 1 52 €2,681

Grand Total 824 23 58

27



Exhibit 14: Members by Age

The chart exhibits a large group of members between the age of 70-80 (approx 185 members) which are likely to exit the club within

the next 10-15 years. Underutilization is a key factor for an aging membership profiule and will drive signifignat turnover in this group.

28



Exhibit 15: Members by Tenure

Exhibit 16: Resigned Members by Age

The large group of exiting members aged 21-36 indicates that the current intermediate membership program may not be conducive

to converting intermediate members into full members. There is an opportunity to stand out in the market by offering a more attractive

package to members aged 30-35.

29



Member Mapping

Exhibit 17: All Current Members

30



Exhibit 18: New Member (Tenure < 3) Exhibit 19: Young Members (Age < 50)

31



DEMOGRAPHIC PROFILE

GGA leveraged ArcGIS demographic software from ESRI to evaluate the demographic characteristics of the market area surrounding

The Island GC, with a focus on the 20 mile and 30-minute drive radials. Appendix A summarizes key demographic indicators for these

radials around the Club.

The following is a summary of key observations to note from the demographic profile surrounding The Island GC:

10,373

194,045

825,212

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

10 minutes 20 minutes 30 minutes

Exhibit 20: 2017 Total Population

32



3,491

66,529

294,655

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000


Exhibit 21: 2017 Total Households

117

99

104

90

95

100

105

110

115

120


Exhibit 22: 2017 Purchasing Power Index

33



Exhibit 23: 2017 Purchasing Power Index

34



RESTRICTIONS

This report is strictly intended for use by The Island Golf Club. It is not to be reproduced or used for any other purpose other than outlined

above without our prior written permission in each specific instance. GGA assumes no responsibility or liability for losses occasioned to

the directors or shareholders, or to any other parties as a result of the circulation, publication, reproduction or use of this report and

analysis contrary to the provisions of this paragraph.

GGA reserves the right (but will be under no obligation) to review all calculations included or referred to in this report and, if we consider

it necessary, to revise our conclusions in light of any information which becomes known to GGA after the date of this report.

GGA instructs that its analysis must be considered as a whole and that selecting portions of the analysis or the factors considered by us,

without considering all factors and analyses together, could create a misleading view of the process underlying the recommendations

and conclusions. The preparation of a Market Analysis is a complex process and is not necessarily susceptible to partial analysis or

summary description. Any attempt to do so could lead to undue emphasis on any particular factor or analysis.

Global Golf Advisors EMEA Ltd.

35



APPENDICES

Appendix A – Population Profile

2017 Total Population Age 45-59 2,191 34,629 143,869

2017 Total Population Age 60+ 1,079 27,385 125,749



2017 Population Per Mill 2.2 40.4 171.9


2017 Total Population 10,373 194,045 825,212

2017 Population Density (per sq. km) 769.1 867.3 1,151.4


2017 Population Totals (MBR)

2017 Average Household Size 3.0 2.9 2.8

2017 Household Totals (MBR)

2017 Total Households 3,491 66,529 294,655

2017 HHs: Non-Family Households and Relations 45 1,488 7,768

2017 HHs: Two or More Non-Related HH

Members

107 3,375 20,125

2017 HHs: Single Mother with Children & Others 38 1,053 4,164

2017 HHs: Two or More Family Units 39 1,440 5,391

2017 HHs: Couple with Children and Others 76 1,738 7,045

2017 HHs: Single Father with Children & Others 7 199 764

2017 HHs: Single Mother with Children 289 7,417 28,384

2017 HHs: Couple and Others 28 1,100 5,098

2017 HHs: Cohabiting Couple with Children 157 3,062 11,435

2017 HHs: Single Father with Children 52 962 3,832

2017 HHs: Cohabiting Couple 158 2,818 14,901

2017 HHs: Married Couple with Children 1,483 21,677 85,754

2017 HHs: Single Person 614 12,001 63,242

2017 HHs: Married Couple 399 8,199 36,750

2017 Households by Type (MBR)

36



2017 Pop 15+/Edu: Not Stated 394 10,417 47,188

2017 Pop 15+/Edu: Postgraduate Degree 720 10,477 58,764

2017 Pop 15+/Edu: Doctorate (PhD) or Higher 74 929 5,775

2017 Pop 15+/Edu: Ordinary Bachelor's Degree 596 9,127 40,696

2017 Pop 15+/Edu: Honors Bachelor's Degree 826 12,704 62,568

2017 Pop 15+/Edu: Advanced Certificate 397 6,841 26,002

2017 Pop 15+/Edu: Higher Certificate 398 5,992 24,646

2017 Pop 15+/Edu: Upper Secondary 1,192 24,381 96,704

2017 Pop 15+/Edu: Technical Qualification 570 10,886 42,552

2017 Pop 15+/Edu: Primary Education 331 11,723 51,969

2017 Pop 15+/Edu: Lower Secondary 640 16,854 66,863

2017 Pop 15+/Edu: Education not Ceased 1,409 28,788 126,469

2017 Pop 15+/Edu: No Formal Education 112 1,693 7,575


2017 Educational Attainment (MBR)

2017 Purchasing Power: Per Capita €22,865 €19,395 €20,470

2017 Purchasing Power: Index 117 99 104

2017 Purchasing Power: Total €237,178,086 €3,763,535,860 €16,891,738,859

2017 Purchasing Power: Per Mill 2.5 40.0 179.5

2017 Purchasing Power (MBR)

37



Appendix B: Real Estate Analysis – 2018 Q2