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With spring upon us, we move into our busiest period for the Club with a significant amount of golf and social events in the lead up to Christmas.
As the annual Month of Pink in October approaches in alignment with National Breast Cancer Awareness Month, we once again encourage our members to back this wonderful cause in support of the critical breast cancer research conducted at Griffith University’s Institute for Biomedicine and Glycomics. The Club will offer several activations throughout the month that members can align themselves with to help support this incredible initiative. Since the implementation of this collaboration in 2020, the Club has raised over $82,000.
Significant feedback has recently been received around the lack of tee-time availability for competition and social play. The board actively monitors and reviews tee utilisation data regularly and feels it is important to outline some key year-to-date data that our team tracks:
External golf rounds (excluding member guests) account for roughly 12% of the total rounds played
Friday and Saturday are the Club’s two busiest days, accounting for 34% of the total rounds played
Across Friday and Saturday, external golf rounds (excluding member guests) on The Pines account for 5% of the total rounds played
This week, the board held a strategy and planning session with a key focus on golf course access for members, and non-member golf. In 2025, we have established new guidelines and will be implementing changes to improve accessibility and further reduce non-member access. Details on these initiatives will be communicated to members when finalised along with the 2025 budget in the coming months.
The 2024 dates for the nomination and determination of board positions for 2025/26 have been set, with the call for nominations to be released on Tuesday 29 October 2024, and results announced on 21 November 2024. This year, the following positions will be vacated:
President
Vice-President
Director – Captain of Ladies’ Golf
In appreciation of evolving social and corporate norms, obligations, and guidelines, the Club is in the process of updating and implementing Club policies including a Junior Safeguarding Policy, Equal Opportunity, and other policies. These will be issued to members and in-turn placed on the Club website in line with relevant By-Law changes as required once finalised.
Membership
In September, seven Equity Members joined the Club, marking 108 new Equity Members so far this year.
108 new Equity Members YTD 2024
7 new Equity Members – September
7 new Equity Members – October
988 Equity Members at 1 September (includes members who took up Voluntary Forfeiture on 30 June 2024)
On behalf of the board and all members of the Club, we would like to warmly welcome the following new Equity Members:
David Andrews
Peter Baumgart
Cameron Beavis
Brian Butler
Craig Duffy
Carolyne Gell
Trent Giltrap
The board is also pleased to announce the introduction of a membership incentive for our long-standing and senior Equity Members, by way of offering a reduced fee scheme for this category in 2025. Eligibility will include a combination of tenure and age, with benefits applying accordingly. With an anticipated start date of 1 January 2025, further details on this initiative will be shared with members in due course.
Golf Course Maintenance
A glimpse of warmer weather with the initial ‘false summer’ has seen a boost to the playing surfaces, and our golf courses are certainly in fantastic condition coming out of winter.
For those members who have been on The Palms golf course this week, I trust you will be pleased with how impactful and amazing the new rock wall looks on hole 8. We hope this component of the hole will be completed next week with the contractors then moving to hole 5 to finalise the greenside area of that lake, works that will also support erosion management.
The bunker refurbishment component of The Palms Course Enhancement Plan is drawing to a conclusion with exceptional progress made since our last correspondence to members. We now have holes 3, 5, 7 and 8 to complete with a goal to be finalised in early November. There are a few remaining bunkers that we will attend to on hole 10 after the Australian WPGA Championship in 2025. We trust that members are enjoying the aesthetics and playability of the new bunkers.
We communicated last month that construction work to hole 3 on The Palms to build the new cart path and clear the area for the new tees was pending. This initial stage has now been finalised and tree clearing on the left of the cart path will commence Friday 20 September in preparation for the new cart path. Tee construction and other civil works to this hole will take place after the Australian WPGA Championship tournament in 2025.
A reminder to all members that the renovation dates for both courses have been set, with The Palms golf course renovation commencing on Monday 28 October 2024 for three weeks. The course will re-open on Monday 18 November 2024. The Pines golf course will undergo its renovations early in the New Year from Monday 6 January 2025, re-opening on Sunday 26 January 2025 for the Australia Day Ambrose.
Finance
In August, we had a moderate amount of rainfall and course closures that hadn't been seen for several months. Despite this, the Club still achieved monthly revenue of $1.28m, marginally exceeding budget by $8k (excluding capital levy contributions) with operating expenses in line with budget.
As at the end of August, the Club’s year-to-date (YTD) EBITDA profit is $1.57m including capital levy contributions. We note that the YTD capital expenditure is $1.49m, of which $1.24m is from the bunker project on The Palms golf course.
With the outgoings to the capital projects this year, the Club won’t see a cash surplus in 2024 noting that the improvements in the assets, especially on The Palms golf course, have been essential.
Being well entrenched into the second half of the year, we are starting to be greeted with warmer weather and longer days. Our golf courses are in excellent condition coming out of winter, reflecting the dedication and hard work of our Golf Course Maintenance (GCM) team. Since the beginning of July, we experienced 163.5mm of rainfall yet the bunker project on The Palms golf course has progressed nicely.
The Clubhouse remains positively vibrant with quiet days rare, and this part of the year leads into a series of exciting events. Paving the way is the annual Month of Pink in October in support of the outstanding breast cancer research conducted at Griffith University’s Institute for Biomedicine and Glycomics, the initiative aligning with National Breast Cancer Awareness Month.
Melbourne Cup celebrations will follow in November, marking the beginning of our end-of-year preparations and festivities as we head towards Christmas.
Following the voluntary forfeiture of 24 shares at the end of June, we have welcomed 13 new Equity Members to the Club in July and August, with 101 new members having joined the Club this year.
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We warmly welcome |
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Mitchell Beare |
Alex Newman |
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Susan and David Fuller |
Kelly and Dean Shannon |
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James Head |
Ben Turnbull |
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Konnie Howat |
Maosheng (Kerry) Wang |
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Alex Hsieh |
Adam Woodward |
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Sean Keegan |
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In 2021, we commenced an archiving process to document key memorabilia and historical data on the Club, in appreciation of the Club’s infancy and subsequent accessibility to such statistical information. We thank Greg Gilson, Greg Herring, Biv Gilson, and Suzi Ledger for their devotion to this project over the years, which has recently lost momentum due to lack of resources and availability.
To ensure continued progress on the the archiving project, the board has agreed to establish an Archive Committee. Investing greater resources into the project by way of a formal committee shall enhance its structure and efficiency, ensuring the project’s success and sustainability in documenting the Club’s history into the future. The committee will be comprised of interested members who will be invited through an expressions of interest appeal in the coming weeks. We would appreciate your consideration to assist in advance.
For the continued safety of our members and guests, the Club has installed three new Automated External Defibrillators (AED) located at the on-course bathrooms on both golf courses. The defibrillators are easy to use and will guide the user with ongoing voice prompts.
Training on how to use the defibrillators will be offered to members, with sessions to be held in the Clubhouse following golf on selected days. Further information on these sessions will be shared in the coming weeks.
Members are reminded to always call 000 in the first instance should you require assistance for a serious medical emergency. We then ask that you contact the Club for immediate support and to assist with any emergency services to reach your location.
We reported in the last board correspondence that there would be insurance work completed in the Clubhouse to rectify ceiling damage in and around Lakeview Bar and in The Jabiru Restaurant. After finalising the scope of works with the assigned builder from the insurer and attempting to minimise impact to members, this work will now be completed in January and February of 2025 which will see The Jabiru Restaurant closed for up to four weeks. We will provide members further information closer to the work commencing.
The Club’s dress regulations have been amended to improve clarity, including the addition of wording such as ‘appropriate golf attire’, and further defining the parameters around smart casual attire, noting that ‘t-shirts are not permitted unless under a jacket or similar’.
This week, the board was pleased to announce that we will be the host venue for the Australian WPGA Championship to be held in March 2025. A major event in the WPGA Tour of Australasia season, the tournament will form a central element of the Gold Coast Festival of Golf, a new joint initiative by the PGA of Australia, Mulpha Australia, Tourism & Events Queensland (TEQ) and Experience Gold Coast (EGC). The tournament is part of a three-week stretch of co-sanctioned events between the WPGA Tour of Australasia and the Ladies European Tour (LET), and will be played as a stand-alone event for the first time after debuting in 2022.
For our members, the Club is committed to ensuring a smooth and enjoyable experience during the event. As outlined in the recent communication shared with members, the event will invite volunteer involvement, early access to corporate hospitality, member-exclusive coaching clinics and functions with marquee players, as well as complimentary tickets.
We trust you share our enthusiasm for this exciting opportunity and to making the Australian WPGA Championship at our Club a great success.
The renovation dates for both courses have been set, with The Palms renovation commencing on Monday 28 October 2024 for three weeks. The course will re-open on Monday 18 November 2024.
The Pines golf course will undergo its renovations early in the New Year from Monday 6 January 2025, re-opening on Sunday 26 January 2025 for the Australia Day Ambrose.
Golf Course Maintenance
Members will have seen amazing progress with the bunker refurbishment on The Palms golf course. Rainfall last week caused some further delays to our schedule however credit to the Atlas construction team for making up some time with the good run of weather we have had.
As we draw to the conclusion of holes 17 and 18, our attention will revert to the holes skipped during the Sanctuary Cove International Boat Show. This will see the Atlas team move to hole 5, 7 and 8 in the coming weeks and then finally 3 and 10.
In previous correspondence, we noted that we were in the process of identifying other opportunities to improve or rectify areas of The Palms golf course during the bunker refurbishment project. We are pleased to advise that rock retaining walls will be installed at the front of both holes 5 and 8. This will dramatically improve the aesthetics of the golf holes but importantly resolve some significant erosion and maintenance challenges we have had in these areas.
The team is still working with Mulpha to finalise and schedule the changes for hole 3 on The Palms as part the Enhancement Plan. Initially, work will be done to construct a new cart path along the fence line to the left of the current tees in preparation for the new tees and all other work for the hole. This will also allow access to hole 4 while hole 3 is closed during construction.
Finance
In June, the Club achieved the highest monthly YTD revenue of $1.37m, followed closely by $1.36m in July. Throughout June and July, we observed a decline in monthly rainfall from the prior months. Throughout this period, the Club’s general expenses remained in line with budget, with the operating expenses increasing in line with the outperformance in revenue.
As at July, the Club’s YTD EBITDA profit was $1.35m, showing a favourable variance of $553k compared to a budgeted EBITDA of $796k. It is noted that EBITDA does not accurately reflect the free cash position of the Club. After accounting for approximately $825k of YTD CAPEX, the YTD free cash generated is approximately $431k.
In 2023, the Club trialled a new drainage technique called Hydrowick on the 5th green approach of The Pines golf course. Hydrowick is designed to address perched and pooled water on playing surfaces, and eliminates the need for extensive trenching in high-priority playing areas, significantly reducing recovery time.
After the trial on the 5th hole has proven highly successful in improving playability during and after rain events and extensive irrigation cycles, Hydrowick will now be installed on holes 2, 7, 9, 12 and 14 at a cost of $62k (ex. GST). The proposed areas will be split into two work dates. The first will align with a course closure on The Pines and a social day on a Tuesday. The second work date is planned for January during the golf course's renovation closure.
As members would be aware, driving range usage has increased significantly in recent times with up to 25,000 balls hit per day. Naturally, the GCM team is starting to encounter turf management challenges, hence an artificial grass hitting tee will be installed on the northern end of the range to assist with maintenance requirements.
This premium artificial turf option will be used in selected periods including Mondays, when we encounter significant wet periods, and as required by the GCM team. The installation will take place towards the end of 2024 at a cost of $63k (ex. GST).
Contrary to previous reports of relentless wet weather, it is pleasing to commence this June board report by charting only 177mm and 107.5mm of rainfall in April and May, respectively. Having topped the 1m of rain at the end of May, we must thank the maintenance team for how well the golf courses and practice facilities are currently being presented.
Equity Membership take-up continues to be strong with 88 new members having joined the Club as at 1 June 2024.
In May and June, we welcomed 18 new Equity Members to the Club:
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We warmly welcome |
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Xiyu (Andy) An |
Ve-jinn Lim and Zengyuan Liu |
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Hanan and Russell Byrne |
Fang-Ju (Jewel) Lin and Howard Lu |
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Darren Carroll |
Christina Quinn |
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Christopher Duncan |
Brad Sargeant |
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Karen and Ian Foote |
Kurt White |
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Cynthia Kitson and John Trickett |
Xinying Zhou and Fuchang Dong |
Thank you to the members who attended the recent Member Engagement session with renowned mental performance coach and high-performance consultant Jamie Glazier. We had over 50 guests attend on the evening with amazing feedback received. Engagement sessions will continue for the enjoyment of members, including a home coffee roasting masterclass with one of Paradox Coffee’s head roasters. This will be followed in August with Head Chef Darren Morgan conducting a risotto perfection class for members.
Please support and continue to engage in these sessions that our team are actively arranging and promoting. It’s a great way to further enjoy the Club and meet new members.
We are pleased to advise that the newly formed Young Members Committee has commenced its meetings. This committee has now met twice and is already compiling some initiatives for the under 40’s of the Club. The Club will be presenting a micro-survey to this membership group in the coming weeks to help gain more insight into their views as members.
As mentioned in the last board report, repair works are to be carried out in the Clubhouse to some of the ceilings, predominantly at the entry to Lakeview Bar as well as in The Jabiru Restaurant. This is a result of the storms experienced in December of 2023 and we now have obtained a slot in the schedule of the approved builder to complete the insurance works. These will commence in July and take approximately one month to complete. We do apologise in advance for any inconvenience whilst using the Club during this time.
A landscape and design plan for the overflow car park area has been obtained and is presently being priced for consideration by the board. Initially, the entry to this area will have some work done to stabilise the ground following the heavy use over the wetter periods of the past months. When the scope of works and plans are finalised, we will advise the members accordingly.
The board undertook a strategic planning refresher session with Jeff Blunden from Golf Business Advisory Services this month. The purpose of the session was to review all the action items and milestones related to the strategic plan. It was pleasing to note how many initiatives and milestones have been achieved since the plan was rolled out, and beneficial to review our plans for the balance of 2024.
With the recent renewal of our insurances, we have had to make some changes to the way we manage the storage of our golf carts under the Clubhouse. Due to the recent fires at clubhouses around the country, the insurer has made comprehensive changes to the excess. This resulted in the Club making various investments to reduce our risk and exposure in the event of a fire.
Golf Course Maintenance (GCM)
The GCM team did an amazing job preparing the field for the Queensland State of Origin team for their training camp for game 1.
Audubon
Sanctuary Cove has proudly been recertified under the Audubon Cooperative Sanctuary Program for Golf* for 2025.
*The Audubon Cooperative Sanctuary Program for Golf is an award-winning education and certification program that helps golf courses protect our environment and preserve the natural heritage of the game of golf. Audubon International has developed Standard Environmental Management Practices that are generally applicable to all golf courses. These standards form the basis for ACSP for Golf certification guidelines.
To gain this certification, we committed to the following:
The Palms Golf Course Enhancement Plan – Bunkers
With the run of dry weather, the Atlas Golf Services team have had good momentum with the bunkers on The Palms golf course. Currently, we are still working towards a finish time in September which should see the changes incorporated on hole 3 and the bunkers on hole 10.
There will be some fig tree removal undertaken in the next few weeks as they are causing significant problems to drainage, turf areas and will also have a detrimental effect on the new lining in the new bunkers.
Additional course works are still being reviewed and we hope to be able to advise members of some amendments to holes 5 and 8 following the next Board meeting. The team are finalising the scope of works and obtaining pricing which would see the front of those greens having a retaining wall installed.
Finance
Throughout April and May, we observed a consistent decline in monthly rainfall, culminating in May with the lowest YTD monthly rainfall of just over 100mm. Through this period, revenue has exceeded budget expectations and the Club’s general expenses have remained in line with budget.
As at May, the Club’s YTD EBITDA profit of $909k reflects exceptional revenue results and effective expense management, exceeding the budgeted figure of $505k. It is noted that EBITDA does not accurately reflect the free cash position of the Club. After accounting for approximately $617k of YTD CAPEX, the YTD free cash generated is approximately $292k.
A successful AGM was held in May with those who attended very appreciative of the information presented. One item that received significant feedback was the number of non-members playing on both golf courses. For 2023, the non-member rounds were 3,069 on The Pines and 3,023 on The Palms.
With our strong results YTD we are introducing several key initiatives for additional site-wide member benefit and enjoyment, including:
Members who utilise the golf club car park will have seen electric vehicle (EV) car charging stations installed. These were provided complimentary by our generous supporting partner Mercedes-Benz Gold Coast. We are pleased to share that these EV charging stations are now available for use, with a complimentary 90-day introductory trial. The stations will be available throughout the day from 6am to 6pm.
In appreciation of recent incidents that have required medical assistance, the board wishes to remind and urge members to call 000 as a priority in the case of an emergency, before calling the golf shop or Security.
Further to this matter, members may be aware of a fatal incident that occurred on The Palms golf course on Friday 14 June 2024. A visiting gentleman suffered a heart attack and was heroically and professionally attended to by Tim Bray and Ashleigh Blacksell, who were first on the scene to conduct immediate CPR. Despite further support from security and Queensland Ambulance Services, the gentleman sadly passed away.
On behalf of the board, management, and staff, I’d like to take this opportunity to express my utmost respect and gratitude to Tim and Ashleigh for their courage, dedication and proven capability in a situation I trust not many have experienced. Thank you for your bravery and valour.
For regular updates on matters relating to the Club, we invite you to continue reading the Weekly Update sent to members every Friday.
The rainfall has certainly presented us with some significant challenges for the first quarter of 2024. We have experienced over 750mm of rain up until 31 March with 55 days of rain in the first 91 days of the year. This unusual weather is an extension of the significant impact we experienced at the end of 2023. This has had a significant impact on trade and importantly, our ability to stay on schedule for the bunker project on The Palms golf course.
We would like to thank the members for their patience with the above as well as for the trees still not removed from the golf courses following the storm events of 2023. As members will appreciate, the company that was awarded the tender has been challenged with fitting the works into their schedule. This has been predominantly due to the rainfall received and that they continue to get bogged in certain areas when attempting to undertake the work. Further removal is scheduled to commence again in the last week of April and will be ongoing until completed.
As recently communicated to members, on 28 March 2024, the Queensland Government approved the modification to the zone boundaries of lots 10, 52 and 58 for the proposed use plan for Sanctuary Cove Resort. Legal representatives are finalising all necessary details for settlement and when this is completed, we will communicate this further with members.
The Board has made further amendments to the draft Clubhouse renovation plans. These are currently with ThinkTank Architects for amendment and as previously communicated, when finalised and costed will be presented to the members for their feedback.
Vital repairs to the Clubhouse roof repairs at a cost of $48,465 (ex. GST) were completed in February. Since the repairs, there has been significant rainfall and thankfully, we have not experienced any further water ingress. As members will appreciate, water ingress issues are very challenging to resolve, and we hope that these repairs will resolve this issue that has plagued us since the Clubhouse was built.
There are also additional works to be completed in the Clubhouse to the ceiling in The Jabiru Restaurant and the nook area from the water ingress in December. The insurer has just approved these works to be undertaken and we are in the process of scheduling them at a time to cause the least disruption to members.
The challenges of car parking for members and guests are continuing to evolve. Whilst we map out a long-term solution, the Board is obtaining a plan to improve the overflow car park currently utilised behind the 18th green of The Pines golf course. The scope looks to address the following:
Congratulations to the Golf Course Maintenance team for the current conditioning of the golf courses. Given their challenges with rainfall and the impact on their ability to schedule and complete their maintenance practices, the members are very fortunate to have such wonderful playing surfaces presently. The Board has asked the executive team to investigate water improvement options that may be viable to invest in for the future. Several clubs throughout Australia have strategically invested in items such as desalination plants as well as injection systems for irrigation purposes. These are proven to improve playing surfaces but also reduce the cost of chemicals and free up staff from having to apply products manually through spraying.
We were privileged to host the Qld All-Abilities Championships on The Palms golf course earlier this month. Thank you to the members who took the opportunity to watch these remarkable golfers during their shortened event due to the poor weather. There was remarkable scoring on the day which led to victory for Cameron Pollard after a playoff following a tied score of 68, and for Ashley Grange, who emerged victorious in the Stableford division with a score of 36 points. The Board is committed to supporting this Golf Australia initiative and further events will be scheduled throughout 2024.
The Palms Golf Course Enhancement Plan - Bunkers
We trust that members have had the opportunity to either play or view the works completed on hole 1 of The Palms golf course. The improvements look amazing and hole 2 is on track to be as exceptional. As noted above, the rainfall has caused some significant delays to the program, however Atlas Golf Services is confident that they can complete the works program not too far outside of the 6 months originally planned. Approximately 30% of the bunker surface area sits on the first 2 holes of The Palms golf course, so, whilst progress looks slow, there is a significant scope of work to be fulfilled.
The Board is taking the opportunity to review other necessary works that may be undertaken whilst the holes are closed. Golfers will note that several drainage pits have been lifted to make them level with the fairways on hole 1 as well as the removal of some fig trees that were contaminating the fairway bunkers on the left-hand side of the hole.
Work on hole 5 will be skipped as the Board is taking advice and obtaining a report and cost to replace the failing timber retaining wall on the lake edge at the front of the green. Once that is obtained, this retaining wall may be replaced prior to the work being done on the bunkers.
Works to hole 3 have been skipped as we work with Mulpha to finalise plans for this hole following the rezoning approvals. This will be the same for hole 10, and when we have firm plans and a timetable for the works, we will update the Enhancement Plan and advise members accordingly.
Finance
Although we have been heavily impacted by the significant rainfall throughout January/February, the Club’s expenses have remained in line with the budget. There has been a reduction in green fees, retail, and F&B revenue due to the inclement weather.
In January 2024, we achieved a total revenue of $1.24m, surpassing the budget by $144k. Similarly, in February, our total revenue reached $1.09m, exceeding the budget by $45k. As a result, our YTD EBITDA profit stands at $320k, against a budgeted EBITDA of $134k. YTD consolidated EBITDA for February was a profit of $289k, a favourable variance of $180k against a budgeted EBITDA of $109k.
KPMG has completed the audit for 2023 and the financial statements have been signed off. The AGM will be held in The Jabiru Restaurant on 16 May 2024 from 6pm and notices and corresponding information has been sent to members. If you didn’t receive them, please contact Member Services on 07 5699 9000.
Members who utilise the golf club car park will see EV car charging stations being installed. These were provided complimentary by our supporting partner Mercedes-Benz Gold Coast, and further information on their availability and functionality will be shared with members when installation has been completed.
Membership
In March and April, we welcomed 13 new Equity Members to the Club:
We warmly welcome:
Please continue to read the Weekly Update sent to members each week, it contains regular updates on matters relating to the Club.
May I extend a warm welcome to the year ahead to all of our Members and staff, and it's my pleasure to provide an update from the Board on the happenings and developments at the Club for the start of 2024. It is our intention to provide this Board report on a bi-monthly basis following our Board meetings.
Firstly, the very challenging weather conditions we experienced throughout December of last year cannot be overlooked. The unrelenting rain and adverse weather patterns posed significant obstacles for our Members and especially the staff. I commend your patience during the course closures and changes to operations. My very sincere thanks to our staff capability lead by Paul Sanders and our Members who made themselves available to assist with the enormous cleanup of our courses following the storms.
Looking ahead to the remainder of 2024, the Board and the team are filled with enthusiasm for what lies ahead. With the worst of the weather behind us and the promise of revitalised golf courses on the horizon, I am confident that this year holds tremendous potential for memorable experiences.
Thank you all for your continued dedication and support of our great Club.
Membership
The Palms Bunkers and Enhancement Plan
As communicated to Members last week, we are extremely excited to commence the improvement works to the bunkers on The Palms golf course this week. We appreciate your patience in advance while we make our way through this project and eagerly anticipate the re-opening of hole 1 in under a month's time. If you have any questions about the project, please speak to Member Services.
In addition, during the renovation period on The Pines golf course, the Golf Course Maintenance team addressed the repair of the fairway bunker on hole 9 to inspect the extent of issues the tree roots were causing. Fortunately, the tree roots have not caused any damage to the liner. They have been removed along with other measures to avoid further ingress. The bunker has been refilled and is back in play.
Insurance
Management is working through insurance claims for the events of 24 and 25 December. These relate to several issues across the Club including the damage to the golf courses and Clubhouse. We hope that the insurer will be in a position to make a decision on these claims in the coming weeks.
2023 Financials
The consolidated trading results for December 2023 delivered a profit of $231k against a budget of $75k. The unaudited consolidated result prior to any adjustments for 2023 is approximately $1.4m delivering a cash surplus of approximately $400k after CAPEX expenditure for the year. Please note that costs from the storm events in December and associated insurance will impact these results, which remain on-going.
In the first quarter of 2024, our CAPEX plan shows us delivering the following items and projects:
Clubhouse Renovations
The Board met with ThinkTank Architects to finalise draft drawings for stage 1 in late 2023. These are in the process of being finalised for the purpose of obtaining firm pricing. When received, these drawings will be displayed for Member feedback as The Palms Enhancement Plan was. It is important to note that until an outcome is reached by the government on the land re-zoning, no changes to the Clubhouse will be actioned.
Board Positions and CEO
On behalf of the Members, the Board would like to thank Wayne Bastion for his outstanding contribution as the finance director of both the Club and Holdings Boards over the past two years. Wayne has been instrumental with his counsel and leadership on financial matters for the company over several years at the Club which extends to his superlative audit and tax advice.
Don Telford, who has been a director on the Club Board for two years and recently re-elected for 2024/25, has been appointed to the Holdings Board for his next two-year term, and we look forward to his contribution.
The Board are thrilled to announce that in recognition of outstanding dedication and invaluable contributions to our Club, Paul Sanders will now assume the title of group Chief Executive Officer (CEO) to Sanctuary Cove Golf and Country Club Pty Limited and Sanctuary Cove Golf and Country Club Holdings Limited.
This title change reflects not only Paul’s exemplary leadership within our Club but also his current role and responsibilities, which extend far beyond those of a traditional golf club General Manager. This title change not only acknowledges his past achievements but also signifies our commitment to retaining top talent and ensuring a bright future for our Club.
Clubhouse Roof
For those Members who have been here since the new Clubhouse was built, they would recall the challenges we have had with water ingress right from opening day. Over the past six months, we have been undertaking investigative repairs to the Clubhouse roof to stop the water ingress that continues near the nook area (entry to Lakeview Bar) and some other areas to a lesser extent.
During the rain event on 24 December, the ingress was significant and equally the damage internally. The Board has resolved to undertake more substantial repair work which will take place on 20 February 2024 at a cost of $48.5k. We hope that disruption and noise will be kept to a minimum as this project is carried out.
This water ingress has also caused a mould issue in the Golf Administration Office space (behind the golf shop counter). All staff have been moved out of the area whilst the contractors undertake the appropriate work to remedy this issue.
Women’s Golf Network Event
The Club is excited to host its first Women’s Golf Network Event on Monday 11 March 2024.
The WPGA Tour of Australasia and PGA of Australia have collaborated to deliver two key Women in Golf programs, aimed at showcasing women’s professional golf to inspire more women to play golf. Hosted by the WPGA, the Women’s Golf Network event will be a day to help build skills and confidence while learning the game of golf. The event offers two clinic options to suit all levels of ability. Please visit the website or contact Ashleigh Blacksell for more details.
Again, best wishes from the Board for 2024.
Dear Member
As another year draws to a close, I think it’s important to reflect on the incredible time we've experienced at our wonderful Club in 2023. The past twelve months have been filled with memorable events, remarkable achievements, and the unwavering spirit of camaraderie that defines Sanctuary Cove Golf and Country Club.
First and foremost, my sincere thanks to each and every one of you for your support and dedication to and as a Member of our great Club. Your passion for the Club and commitment to our shared pursuit of excellence has contributed to another extraordinary year in 2023.
This year, we have had 76 new Equity Members join us at the Club. We trust all new Members across all our membership categories are enjoying the amazing facilities that make Sanctuary Cove Golf and Country Club what it is.
Several exciting projects and capital improvements were completed in 2023 including:
Our expenditure for the above was $645k.
We are looking at finishing 2023 with a strong financial outcome with the forecast EBITDA for the Club in 2023 at $1.5m, with a consolidated EBITDA profit including Holdings of $1.3m. Capital expenditure will be in the vicinity of $1m for the year, meaning the Club will generate approximately $300k in free cash.
Looking ahead to 2024 and pending our final financial position, there are a number of exciting projects being considered to further improve our Club:
As this year draws to a close, may I take this opportunity to remind all Members that communication and behaviour towards other Members, management and staff should at all times be respectful and courteous. Our staff and Members alike play a crucial role in ensuring all of us have a wonderful and enjoyable experience at the Club each and every day, so let’s all play our part.
To our out-going Captain and Vice-Captain of Men’s Golf, David Francis and Greg Duguid, respectively, please accept the heartfelt thanks of the Board, Members, and all the staff for your outstanding contribution and effort to our Club.
A warm welcome to Michael Chapman and Nick Mullings as the 2024/25 Captain and Vice-Captain of Men’s Golf. The Board welcomes you both and looks forward to your contribution and assistance in further enhancing our golf experience for the Members.
A very special thank you from the Board to all the Members who have sacrificed their own time to assist on committees and volunteer at the Club. Every club requires Members such as yourselves to be successful, and your ongoing support, efforts and contribution underpin the great Club we continue to enjoy.
To Paul Sanders, his management team and all our staff, congratulations and thank you for your outstanding work and efforts in looking after the Members and guests of the Club in 2023. The vibrant, energetic, and enthusiastic energy and team culture that you bring provides all of us as Members great pride and wonderful enjoyment.
To the Board, I would like to extend a special thank you for all your efforts and support throughout 2023.
And finally, to you the Members, thank you for all of your support throughout 2023. We look forward to the coming year with great excitement and anticipation.
On behalf of the Board, we wish you and your families a very happy, healthy, and safe Christmas and a very prosperous new year filled with birdies, eagles and good golf and a continued camaraderie that makes our Club a truly special place.
Yours sincerely,
Jeff Ervin, Chairman
Sanctuary Cove Golf and Country Club
We have had 76 new Equity Members join the Club this year taking the total to 969 from 1 December 2023.
The Club is proud to welcome 9 new Equity Members joining the Club from December:
General
A huge thank you to all Members and staff for the efforts in raising $11,663.99 for the Griffith University Institute for Glycomics for the ‘Month of Pink’ at the Club. Congratulations to all the Members that participated in the vast array of events that were put on including the Melbourne Cup and the inaugural Pink Putting Championship won by Gary Simmons.
We have been undertaking repairs to the roof of the Golf Club over the past few months to nullify the water leaks that some Members may have seen near the nook area. With the rain received the past few weeks following the repairs, some of the problems have been resolved with minimal ingress. We will continue to work with the contractor to resolve this.
As you are aware, the Director elections have just been finalised, and the Board would like to congratulate newly appointed Michael Chapman as Captain of Men’s Golf supported by Nick Mullings as his Vice-Captain. Also, we are excited to have Don Telford return for another 2 years as Director.
To Michael Temperton and Indren Naidoo, thank you for your nominations and desire to assist the Club into the future. Outgoing Captain David Francis, has shown great commitment to the Club and Board for the past few years to which we thank him dearly for, along with Greg Duguid in his role as Vice-Captain.
The Club has just entered its first option with Mulpha for access to the Country Club for Equity Members. This period will be for another 5 years of where we will continue to enjoy the wonderful facilities that are available at the Country Club.
Members will have seen that we have this week released an Expression of Interests for Members to join committees at the Club for 2024. The response has been phenomenal since the announcement so please ensure you submit your intent before the cut-off date.
Financial Information
In October total revenue was $1.15m, $111k above budget. The trading EBITDA for October was a profit of $167k, a favourable variance of $21k against a budgeted profit of $146k. Year-to-date (YTD) profit is $1.42m, a favourable variance of $236k against a budget of $1.18m. YTD consolidated EBITDA for October was a profit of $1.36m, a positive variance against budget of $359k.
The CAPEX spend during October was again minimal and included the Clubhouse Security System ($4k), Northstar progress payments ($7k), and small machinery for Golf Course Maintenance (GCM) ($2.1k). The Security upgrade was necessary due to software no longer being supported for the old system originally installed when the Clubhouse was built.
Total CAPEX spent & committed YTD amounts to $926k. Remaining CAPEX items for 2023 include the final payment for Northstar software ($53k), cart path repairs on The Palms ($10k), and GCM small plant replacement ($8k
The forecast EBITDA for the Club in 2023 is a profit $1.5m, with a consolidated EBITDA profit including Holdings of $1.3m. Capital expenditure will be in the vicinity of $1m for 2023, meaning the Club will generate approximately $300k in free cash.
Golf Information
With only 6mm of rainfall in October and extremely high salinity levels in our irrigation water, recent rainfall has been both timely and welcome. I’m sure all Members will see the benefits from the rain as the condition of The Pines is spectacular and The Palms post-renovation also bouncing back exceptionally. The Members will have 2 beautiful golf courses to enjoy through the Christmas period.
Management is currently working with Sanctuary Cove Body Corporate Services and the City of Gold Coast (Council) to enter a new effluent water agreement. This has been a lengthy process that will hopefully be finalised soon to secure our water supply at an affordable level.
Management have been tasked with investigating a water treatment solution for consideration for the Club. During the past 6-7 months where we have had little to no rainfall, the root health of the greens on both golf courses reached a concerning level, solely driven by extreme salinity conditions from the effluent water. There are several golf clubs around Australia successfully treating their water of which would be highly beneficial for use on our greens.
The annual renovations on The Palms golf course were successfully completed, with the course recovering well. A reminder to Members that The Pines golf course renovations will commence on Monday 15 January 2024 and the course will be closed for 3 weeks.
During the renovation period, we will be doing vital drainage improvement works to hole 5 of The Pines golf course at a cost of $44k. This work will be the same as has been completed on other holes including hole 1. We will also be trialling a new drainage solution called Hydrowick in a small area on the apron (front hill) just in front of the green on this hole. This method has proved highly successful at other facilities and is far less evasive than traditional works.
We are currently waiting on the detailed plans for the bunkers for hole 1-6 of The Palms from Crafter and Mogford Golf Strategies. When received, we will obtain pricing for the proposed work in-line with the Enhancement Plan and look to commence the work on the bunkers in early 2024.
Members will have seen that the fairway bunker on the right-hand side of hole 9 on The Pines is currently marked GUR. It is contaminated with pine tree roots that have grown over and through the liner and isn’t safe to be in play. The position and design of the bunker is being reviewed by Brandon Johnson who is supporting legacy courses from the Arnold Palmer Group. We are hopeful that he will complete a review of the bunker in time for proposed changes to be costed and communicated with works to also be completed during the renovation period.
The Club proudly welcomes four new Equity Members joining the Club on 1 October 2023:
The Palms Enhancement Plan
The Board have engaged Crafter and Mogford to commence the detailed design work for the bunkers on the first 6 holes of The Palms golf course as part of the Enhancement Plan. We will then have a cost put against the proposed bunker works. More correspondence will come to Members on this as the project continues to progress.
NorthStar
The NorthStar software transition is almost complete and we thank the staff for their ongoing efforts in implementing this. As with any major software changeover, there have been some challenges for Members and staff alike, and we are actively working with NorthStar to have the outstanding issues rectified to ensure a better experience for our Members. The Board would like to thank the Members for their patience and understanding over this transition period and please, take any challenges you may be having up with the team respectfully at Reception.
All-abilities Golf Event
We were proud to support a new initiative Sunday 17 September in the All-abilities golf event. There were 46 guests on the day who enjoyed golf, tuition and great comradery in what was one of their best attended events to date. The Club will continue to support these amazing golfers and ask Members to come out and support the next event when scheduled.
Golf Information
A reminder to all Members to please ensure you are taking care of your golf courses and respecting the rules for all golfers.
Please ensure you are:
Those Members with disabled stickers are reminded to remain a minimum of 10m from tees and greens.
We will be trialling the removal of ropes and poles on the golf courses over the next 2 months. Please ensure that you refrain from driving golf carts on areas that are worn out and a reminder to stay on the cart paths as much as possible to reduce wear and tear on the course. The Greens Committee will review trial with the Superintendent at the next meeting.
The Board have made some amendments to the dress policy at the Club.
Click here to view the updated dress regulations for the Clubhouse and here for the updated dress regulations for the golf course.
Our annual renovations on The Pines golf course will commence Monday 30 October 2023 and the golf course will be closed until Monday 20 November 2023. Please note that during this time there are changes in the guest access for golf, please see the Weekly Update for more information on this.
Financial Information
August proved to be another strong trading period with total revenue of $1.24m which was $126k above budget for the month. The main contributors were food and beverage, green fees and golf shop retail revenue. The consolidated results (including Holdings costs) showed an EBITDA profit of $245,904 against a budgeted EBITDA profit of $185,056, a positive variance of $60,848 (33%). Year-to-date (YTD), consolidated EBITDA (including Holdings costs) is a profit of $1,016,634, which is a positive variance against budget of $254,165 (33%). We note that while the consolidated profit is over $1m, the capital expenditure and Holdings costs will be in the vicinity of $1.1m for 2023 meaning that minimal free cash will be generated for 2023.
The Club committed to the following CAPEX spend during August which included maintenance shed upgrades ($41k), NorthStar progress payment ($18k), and golf course furniture ($20k). The solar on the golf clubhouse roof is proving beneficial with up to 25% reduction in consumption from the grid being achieved. The total CAPEX spend YTD amounts to $841k.
Budget preparations have commenced for 2024 and there will be a review undertaken on membership categories and their inclusions including facility access as part of this process. Members should assume that there will be an increase in fees in 2024 as we continue to experience significant pressure in cost escalation in our operating expenses including, machinery, diesel, fertiliser, power, staff costs as well as repair and maintenance and other items. In addition, our capital requirements moving forward will remain on-going and we need to plan and ensure we have adequate resources to keep assets at the standard we love and expect.
The Club proudly welcomes three new Equity Members joining the Club on 1 August 2023:
The Palms Enhancement Plan
Paul Mogford from Crafter and Mogford have made the final changes to The Palms golf course enhancement plan following Member feedback and the Board have adopted it as final. You can view the final plan here.
We have just completed our annual review of the trees on both golf courses and the Arborist report has indicated there is some significant works to be undertaken, the majority on The Pines golf course in the pine forest. These vital works are necessary to mitigate safety risk, damage to other trees and they will commence work next month at a cost of $70k with some upside being the considerable amount of stored mulch. We are advised that the significant increase in works is largely due to the amount of water that lay in the pine forest the past years from rainfall. To improve this issue, channels have been built in the pine forests to assist with the flow of the water to drainage outlets which is working well.
We had exceptionally strong turnover in June with total revenue of $1.15m which was $105k above budget for the month. The main contributors were food and beverage, green fees and golf shop retail revenue. In June, the consolidated results (including Holdings costs) showed an EBITDA profit of $167,634 was achieved against a budgeted EBITDA profit of $131,453, a positive variance of $36,181 (28%). Year-to-date (YTD), the consolidated EBITDA is a profit of $573,576, which is a positive variance against budget of $135,124 (31%).
The Club committed to the following CAPEX spend during June which included solar panels ($121k), golf course maintenance ute ($10k), pine trees ($8k), and additional golf cart parking ($10k). The solar on the golf clubhouse roof is proving beneficial as expected even in the cooler period with up to a 30% reduction in consumption from the grid being achieved.
The solar and ute purchases were brought forward to allow the club to take advantage of the significant government incentives through the tax and instant asset write-off programs that expired at 30 June 2023. The total CAPEX spend YTD amounts to $684k leaving a small cash deficit for first half of 2023. The second half forecast for 2023 is strong and with less CAPEX spend forecast, we expect the cash result to turn around to a small surplus for the year.
The Club is pleased to welcome 11 new Equity Members, taking our Equity Membership to 943 as at 1 July.
For June consolidated results, an EBITDA profit of $167,634 was achieved against a budgeted EBITDA profit of $131,453, a positive variance of $36,181 (28%). YTD consolidated EBITDA is a profit of $573,576, which is a positive variance against budget of $135,124 (31%).
Membership
In April and May, we welcomed 5 new Equity Members to the Club:
A New Member Induction evening was held on 25 May, attended by 10 new Members along with our Directors, Membership and other Committee members as well as Club staff. The evenings provide new Members with more detailed information about the Club and its offerings and present the opportunity to meet fellow Members.
941 – Total number of Equity Membership as at end of May 2023
Finance
For April trading results, an EBITDA profit of $73,424 was achieved against a budgeted EBITDA profit of $166,185, a negative variance of $92,760 (56%). YTD EBITDA is a profit of $290,790, which is a positive variance against budget of $34,275 (13%). YTD Consolidated EBITDA was a profit of $278,586, a positive variance against budget of $81,117 (41%).
General
Thank you to all Members who provided feedback to the Board for The Palms Enhancement Plan and Strategic Plan. Crafter and Mogford Golf Strategies are currently finalising the document with the Board aiming to adopt it as a final document soon. The Board is meeting in June to discuss and finalise the Strategic Plan following receipt of the feedback received by email and Member forum.
There are a number of projects that will be taking place over the next few weeks that the Board approved including:
Golf Course Furniture – the install of the new golf course furniture will also commence in June. We will start on the practice holes, work through The Pines and then finish on The Palms.
At the completion of the install, The Palms golf course hole numbering will be changing with hole 9 becoming hole 1. More information on this will be included in the Weekly Update so please read carefully for further information.
Membership
In February and March, we welcomed 10 new Equity Members to the Club:
A New Member Induction evening was held on 9 March, attended by 11 new Members along with our Directors, Membership and other Committee members as well as Club staff. The evenings provide new Members with more detailed information about the Club and its offerings and present the opportunity to meet fellow Members.
939 – Total number of Equity Membership as at end of March 2023
Finance
For February consolidated results, an EBITDA profit of $76,144 was achieved against a budgeted EBITDA profit of $37,771, a positive variance of $38,374 (>100%). YTD consolidated EBITDA is a profit of $131,409, which is a positive variance against budget of $168,286 (>100%).
Golf Course Enhancement
After Easter, we will be doing a bunker liner and sand trial on hole 17 of The Palms golf course. When we put a lining system for drainage purposes on The Pines golf course, an asphalt solution was used except on hole 17, which was concrete. New technology has seen a rubber compound now produced call Dura-Crumb, which will be installed in the two greenside bunkers. With this trial we will also be testing two different types of bunker sand.
The cost of this project is $33,000.
We will confirm the dates the hole will be closed, noting the work will be completed in one week.
General
An overview of the 2023 Strategic Plan for the Club will be communicated to Members next week. Members will have the opportunity to provide feedback to the Board with information sessions to be scheduled thereafter to discuss.
The Palms golf course Enhancement Plan has also reached a final draft stage and will be communicated to Members shortly. Members will have the opportunity to comment on the plan done by Crafter and Mogford Golf Course Design. Paul Mogford will visit the Club in May to give Members the opportunity to ask questions on the proposed changes.
The Board approved the following capital items this week at the Board meeting:
The Board wishes all Members competing in the Easter Tournament activities the very best of luck. For those Members travelling, please do so safely and have a wonderful Easter.
Membership
In January, we welcomed 15 new Equity Members to the Club:
We held a New Member Induction evening on 19th January, attended by 20 new Members, along with our Directors, Membership and other Committee members as well as Club staff. The evenings are always a wonderful opportunity for new Members to learn more about the Club and our variety of offerings, while meeting and mingling with fellow Members.
115 – New Equity Members in 2022
68 – Forfeited Members forfeited their shares in 2022
931 – Total number of Equity Membership as at end of January 2023
Finance
After 4.5 years of service to the Members, David Vosloo has resigned from his position on the Club and Holdings Boards as the appointed Finance Director. The Board would like to take this opportunity to thank David for his outstanding efforts and contribution. We wish him the very best as he dedicates more time to his golf chasing that elusive Honour Board victory.
We would like to welcome back as David’s replacement Wayne Bastion as the Finance Director on both the Club and Holdings Boards. Wayne has comprehensive Board, audit and tax experience as well as an intimate understanding of our history and fiscal requirements having previously served in the roll of Finance Director of the Club – we welcome your return Wayne.
For December consolidated results, an EBITDA profit of $185,895 was achieved against a budgeted EBITDA profit of $36,708, a positive variance of $149,186 (406%). YTD Consolidated EBITDA is a profit of $1,261,420, which is a positive variance against budget of $553,933 (78%).
The 2022 results are unaudited and subject to change during the audit process. It remains noted that due to new accounting policies introduced last year, any joining fee revenue earned throughout the year will be recognised over a 5-year period in the annual statutory accounts. Final audited results will be presented at the 2023 AGM.
Golf Course Maintenance
The Palms annual renovations have recently been completed after a two-week extensive program addressing tees, fairways, rough and greens. Thanks to favourable weather conditions, the course is recovering well, and the rain forecast is going to assist speed up the return to normal playing surfaces.
Due to supply issues with sand, we will be top-dressing the fairways on The Palms over the next few weeks. We appreciate your patience while we undertake these works and as the sand is washed in, the disruption will be minimal.
At the January Board meeting, the Board have approved to undertake some landscape maintenance works in between the 8th green and the 6th tees of The Palms. Some of the plants will be transplanted from other areas on the Palms Course to minimise costs, with no obvious impact on the existing landscape. The Golf Course Maintenance team will complete these works over the next month.
General
The inaugural Sanctuary Cove Cup will be played this Sunday with some of the best amateur golfers from QLD participating. There are also a number of our Club Members representing in the 8am shot-gun start, please show your support to come and watch this wonderful new event.
Thank you to Members for your patience this past week whist we attended to the tiling works at the front of the golf shop. The area was rapidly deteriorating, and the replacement tiles look fantastic.
Membership
In November, we welcomed 7 new Equity Members to the Club:
Total Equity Membership as at end November – 957
We held a New Member Induction evening on 10 November, attended by 12 new Members, along with our Directors, Membership and other Committee members as well as Club staff. The evenings are always a wonderful opportunity for new Members to learn more about the Club and our variety of offerings, while meeting and mingling with fellow Members.
On 22 November, Jeff Blunden from Golf Business Advisory Services presented the 2022 Member Survey Results which can be viewed by clicking here. Jeff also took the opportunity to present on several critical industry benchmarking areas that the Board is using to assist in its strategic planning workshops along with the survey results. As communicated, the Board is aiming to present the final strategic plan along with The Palms Enhancement Plan and proposed Clubhouse works in early 2023.
Congratulations to Club Member Mrs Barbara Kerr-Graham who was the lucky winner of $4,700 Club Credit at the Members’ Draw on Sunday 20 November 2022. Sunday Night Roast and the weekly Members’ Draw continue to be well-supported events and we thank Members for your ongoing weekly attendance.
The Jabiru area has had new air conditioning installed this past month, in addition to the installation of a new system for Lakeview Terrace. We are utilising this area more with capacity challenges and in the past, this area has been unusable in the hotter months. A sail will also be installed above the roof area closest to The Jabiru Restaurant on the Terrace to block the direct sunlight heating the area.
Finance
For October trading results, an EBITDA profit of $155,327 was achieved against a budgeted EBITDA profit of $75,476, a positive variance of $79,851 (106%). YTD EBITDA is a profit of $1,181,768, which is a positive variance against budget of $299,199 (34%). Consolidated EBITDA was $123,475 profit, a positive variance budget of $71,442 (137%). YTD Consolidated EBITDA is a profit of $1,047,655, which is a positive variance against budget of $353,795 (51%). It remains noted that due to new accounting policies introduced last year, any joining fee revenue earned throughout the year will be recognised over a 5-year period in the annual statutory accounts.
Golf Course Maintenance
The Pines annual renovations were completed on 18 November after a three-week program addressing tees, fairways, rough and greens. Thanks to favourable weather conditions, the course is recovering well, and the rain forecast is going to assist speed up the return to normal playing surfaces.
A reminder that the annual renovations of The Palms golf course will commence from Monday 16 January 2023 and will re-open on Saturday 28 January 2023 for the ladies’ Saturday competition. We will be undertaking an extensive renovation this year and the recovery, whilst weather dependent, is expected to be 6-8 weeks before returning to normal playing standard.
General
Nominations were called for the Board positions of President, Vice-President and Captain of Ladies’ Golf/Vice-Captain of Ladies’ Golf 2023/24. Jeff Ervin and Paul Smerdon were reappointed as President and Vice-President, respectively, the positions unopposed.
Elections were held for the position of Captain of Ladies’ Golf/Vice-Captain of Ladies’ Golf 2023/24. Libby Shakespeare will join the Sanctuary Cove Golf and Country Club Pty Limited Board for the next term, with Jane Mullings as her Vice-Captain of Ladies’ Golf (non-Board position).
Thank you to Margie Hay for her dedication and commitment to the Club over the past four years, as Captain of Ladies’ Golf and as Director. Her contributions are greatly appreciated, and we look forward to her continued support. Thank you also to Margie’s Vice-Captain Jan Venn, as well as her nominated Vice-Captain for the coming term, Louise Wolbers.
In anticipation of the 2022 Sanctuary Cove Member Shootout, we wish all players the best of luck. In addition, we hope all Members enjoy the inaugural Composite Cup to be played on Saturday 10 December 2022. Finally, as we wind down the golfing schedule for 2022, we hope all Members playing in the Christmas Ambrose on Sunday 11 December have an amazing afternoon.
Membership
9 new Equity Members joined us in October, to whom we extend a very warm welcome:
Total Equity Membership as at end October – 951
A huge thank you to all the Members that have participated in GO PINK Month during October. The Club spirit and support shown to raise money for the ground-breaking breast cancer research being conducted at Griffith University’s Institute for Glycomics is inspirational. Based right here on the Gold Coast, the Institute for Glycomics is a world-leading biomedical research institute whose unique approach to cancer research makes it the only one of its kind in Australia and one of only six in the world.
Finance
For September trading results, an EBITDA profit of $102,509 was achieved against a budgeted EBITDA profit of $71,294, a positive variance of $31,214 (44%). YTD EBITDA is a profit of $1,026,597, which is a positive variance against budget of $219,505 (27%). It is noted that due to new accounting policies introduced last year, any joining fee revenue earned throughout the year will be recognised over a 5-year period in the annual statutory accounts
Golf Course Maintenance
Congratulations must go to the Golf Course Maintenance team for the presentation of The Pines golf course, especially for the Club Championships. The playing surfaces are exceptional, and the team were significantly challenged with the weather encountered last week – well done team.
As communicated last month, the annual renovations on The Pines will commence on Monday 31 October, being the first full course renovation since the greens’ reconstruction. This year’s program for the greens will differ to other years, as the greens will only require a light renovation due to their age.
For more information on the planned works, please refer to the communication in the Weekly Newsletter.
Also, please add to your diaries that the annual renovations of The Palms golf course will commence from Monday 16 January 2023.
General
This week works commenced on installing air conditioning on the Terrace which will also see a shade sail installed over the white plastic area. This will see a drastic reduction in the temperature on the Terrace which has been an usable space during hotter months in the past. The air conditioning work will be completed this week with the sail installation to be completed in the coming fortnight.
The Board are in the process of finalising the Strategic Plan with our Consultant. In the coming weeks the Plan, along with an information evening and the survey results will be published and presented to the Members.
Good luck to all competitors in the Club Championships this coming weekend.
Membership
A New Member Induction evening was held on 15 September, which was attended by eight new Members, along with our Directors, Membership Committee members and Club staff. The evenings are always a wonderful opportunity for new Members to learn more about the Club and our variety of offerings, while meeting and mingling with fellow Members.
Finance
For August trading results, an EBITDA profit of $174,082 was achieved against a budgeted EBITDA profit of $111,282, a positive variance of $62,800 (56%). YTD EBITDA is a profit of $924,055, which is a positive variance against budget of $188,257 (26%). It is noted that due to new accounting policies introduced last year, any joining fee revenue earned throughout the year will be recognised over a 5-year period in the annual statutory accounts.
Golf Course Maintenance
The annual renovations on The Pines will commence on Monday 31 October, being the first full course renovation since the greens’ reconstruction. This year’s program for the greens will differ to other years, as the greens will only require a light renovation due to their age.
More energy and resources will be put into tees, fairways and aprons. These areas will receive a heavy renovation due to the amount of thatch accumulation from the rainfall and after only undergoing a minor renovation earlier this year.
The tees’ and fairways’ estimated recovery time is 4 to 6 weeks. On re-opening after three weeks, these surfaces, having been heavily renovated, will be back to 50-60% of their normal condition subject to weather.
In line with a recently conducted tree audit on both The Pines and The Palms golf courses, relevant works will be completed during the respective annual renovation periods for each course.
Detailed communication on the renovations will be sent to Members in the coming weeks.
General
Survey Results
As previously communicated, the Board will conduct sessions in relation to the survey results with the planning consultant in the coming week. At the completion of this, the survey results and other information will be communicated to the Members.
The on-course Designated Smoking Areas on The Pines and The Palms golf courses have been amended from the tee boxes to fairways only. We appreciate all Members abide by the new guidelines and ask that all cigarette butts are appropriately disposed of and not left on the course.
LIV Golf
LIV Golf representatives visited Sanctuary Cove a few weeks ago to undertake a site visit of the resort. They were very impressed with our facilities, especially The Pines golf course given the amount of rainfall we have had year-to-date and that we were in the dormant growth period of winter.
At this point in time, there has been no discussion about hosting any events at the Club. They have visited facilities in NSW, Qld, SA and Vic and do intend to host a LIV Golf event and International Tour events in Australia from 2023. It is our understanding that they are considering all their options following their site visits across Australia and will revert to clubs of interest in the near future
If this changes in the future, we will communicate this to the Members.
Membership
Thank you to all Equity Members who took the time to complete the Member Survey, we were so pleased that almost 500 responded. Your input is greatly valued and will be used in the upcoming strategy sessions with our consultant assisting us with the new strategic plan for the Club. The survey results and more information will be sent to Members at the conclusion of these sessions scheduled in October.
Finance
For July trading results, an EBITDA profit of $129,036 was achieved against a budgeted EBITDA profit of $76,388, a positive variance of $52,647 (69%). YTD EBITDA is a profit of $749,973, which is a positive variance against budget of $125,457 (20%). It is noted that due to new accounting policies introduced last year, any joining fee revenue earned throughout the year will be recognised over a 5-year period in the annual statutory accounts.
General
The Board has approved to purchase another 15 E-Z-GO golf carts to increase our cart fleet. With our significant increase in Equity and Corporate Members living outside of Sanctuary Cove, coupled with other golf played across the facility, this is essential to meet our operational requirements.
We would like to stress to Members that when you see people in golf carts owned by the Club, it does not mean that they are not Members also. Many Members do not live in Sanctuary Cove and pay fees to use Club-owned golf carts. 
Membership
As advised previously and on our information evening, a survey will be circulated to all Members within the coming weeks seeking input to assist the Board on future planning and direction for our Golf and Country Club.
This is an opportunity for all Members to provide input and we ask that you take the time to complete this survey when received.
The Board would like to congratulate Anthony Quayle, Adam Scott and Brad Kennedy for the amazing performances at The Open held at St. Andrews this month. To have three Members of the Club in the 150th Open was so special, backed up by their magnificent results.
As communicated in the weekly newsletters to Members, another reminder to please take more efforts with course care. Fixing pitch marks, sand-filling divots and following golf cart rules is part of your obligation as Members and only benefits us by helping the aesthetics of the playing surfaces.
Life Membership Nomination
The Nomination for Dr Greg Herring for Life Membership came before the Board this month following the 28-day Equity Member consultation period as required by the By-Law.
The Board advises that a unanimous decision as required was not reached and therefore Life Membership has not been granted.
The Board thanks Greg for his previous achievements and dedication to our wonderful Club and look forward to his continued efforts and contribution to the Golf Club.
Finance
For June trading results, an EBITDA profit of $119,404 was achieved against a budgeted EBITDA profit of $84,085, a positive variance of $35,319 (42%). YTD EBITDA is a profit of $621,030, which is a positive variance against budget of $72,902 (13%).
Membership and General
Tee time utilisation on competition days in June:
Finance
For May trading results, an EBITDA profit of $100,224* was achieved against a budgeted EBITDA profit of $81,576, a positive variance of $18,648 (23%). YTD EBITDA is a profit of $501,586, which is a positive variance against budget of $37,544 (8%).
Note
There was a positive variance against budget of $40k in joining fees for May, however due to new accounting standards introduced last year, any joining fee revenue earned throughout the year will be recognised over a 5-year period in the annual statutory accounts.
Membership and General
The Board welcomed 7 new Equity Members in May, taking our Equity Membership to 937. Despite the poor weather, we trust our new Members have enjoyed their initial weeks at the Club.
Throughout the month of April, tee time utilisation on competition days has been as follows:
Our Members’ assistance in only booking tee times for players confirmed to play on the respective date has made an improvement to tee sheet management, which is greatly appreciated.
Finance
For April trading results, an EBITDA profit of $132,573 was achieved against a budgeted EBITDA profit of $59,808, a positive variance of $76,572 (122%). YTD EBITDA is a profit of $399,655, which is a positive variance against budget of $17,189 (4%).
Rain again impacted April trading results, leading to $10k of lost golf revenue. Despite this negative impact, strong retail trade and membership activity produced a revenue result of $138k above budget. Expenses during April were again well contained, and the bottom-line trading result is now ahead of the YTD budget by $17k.
There was a positive variance against budget of $40k in joining fees for May, and total golf revenue is forecast to be significantly higher than the prior year, but below budget for 2022 due to further significant weather events.
Golf Course Maintenance
The wet weather experienced throughout May turned our Golf Course Maintenance team’s attention to landscape works and bunker detailing on the golf courses. The team addressed the following projects:
The Members Working Group assisted by cutting back and mulching the gardens behind The Palms 18th green. The group also tidied up garden areas at The Palms 18th tee.
Membership and General
The Board is pleased to welcome seven new Equity Members to the Club in March, taking our total Equity Membership number to 926. We trust our new Members have been enjoying our wonderful Club and facilities.
Throughout the month of February, tee time utilisation on competition days has been as follows:
After analysis of booking patterns, it is evident that a lot of Members are booking or being booked when tee sheets open and pulling out when reminders are sent out. We politely request that Members avoid this so that the tee sheets for competition days show maximum times available in the two weeks that times are shown.
Finance
For February trading results, an EBITDA profit of $88,859 was achieved against a budgeted EBITDA profit of $186,996, a negative variance of $98,137 (52%). YTD trading result is an EBITDA profit of $190,966 against a budgeted EBITDA profit of $249,953, a negative variance of $58,987 (24%).
Total revenue for February was below budget by $146k due in most part to a shortfall in Joining Fees. The budget included Joining Fees and subscriptions for 20 new Members as membership was planned to close at this time, and the 20 Members were an estimate of the final intake. This shortfall is expected to be recouped in the months ahead as new Members continue to join (March – 7, April – 9).
Heavy rain also hampered February trading results, leading to $51k of lost revenue on forecast. This was impacted by 7 days of golf transferred to carts on paths, golf events and the subsequent impact of these factors on retail revenue.
Expenses during February were well contained and $49k of the revenue shortfall was recouped in reduced expenses, most notably in Food and Beverage where $18k of expense savings were achieved in labour costs and F&B COGS.
Golf Course Maintenance
After a month of severe weather conditions resulting in 451mm of rain, the Golf Course Maintenance (GCM) team has been doing its utmost to ensure both golf courses return to playable conditions as quickly as possible.
Periods of reprieve from the rain allowed the GCM team to achieve the following:
On behalf of Paul McLean and his GCM team, thank you to our group of volunteers lead by Gary Simmons for cleaning up the landscape area on the left side of hole 17 on The Palms golf course. This support is greatly appreciated.
Membership
In February, 12 new Equity Members joined the Club, along with 33 new Members in January. Our total number of Equity Members is at 919, and on behalf of the Board, I extend a very warm welcome to all our new Members.
Finance
For January trading results, an EBITDA profit of $110,607 was achieved against a budgeted EBITDA profit of $62,957, a positive variance of $47,650 (76%).
These results reflect an exceptional new Member intake for January including joining fees against the budget. We expect February results to pick up the adjustment to budget figures in relation to new Member numbers forecast and show a loss for February.
Expenses during January were well controlled, and savings were made in labour and COGS due to reduced retail and F and B sales.
Match and Greens
The Palms Golf Course
After an extended renovation period due to poor weather and COVID-related staff absences, renovations on The Palms golf course were successfully completed. All playing surfaces are still recovering, however are growing back strongly. The 18th green was scarified more aggressively to remove excess thatch and will need more time to recover.
The Board approved expenditure of $54,000 for drainage and turfing repairs on holes 3,5,8, and 12 on The Palms to commence early April 2022.
The Pines Golf Course
The Pines golf course has been in great condition, including the greens after recovering well from a significant “brown patch” outbreak. The roughs are continuing to grow rapidly after recent rainfall, and herbicide applications for the control of annual weeds such as summer grass and Crows Foot are scheduled to start in March.
General
Proposed costs associated with A and C class water are still yet to be finalised. We have received advice that a new agreement is to be presented to us and will advise accordingly
The Board has approved an increase to the Member guest rates on The Palms Golf course effective from the 1 March 2022.
New Rates
Further details to be communicated in the newsletter.
Membership and General
A warm welcome from the Board to all Members as we embark on 2022.
On 1 January we had 33 new Members join the Club and a further 13 will be welcomed from the start of February. At the end of December 2021, 27 Members took up Voluntary Forfeiture which saw us finish the year with 874 Members. Pleasingly, we introduced 153 new Equity Members to the Club in 2021, a net gain in the year of 114, which saw a total of 39 depart through forfeiture, deceased and expelled Members.
Covid has continued to challenge the Club and our operations throughout January. As we have communicated to Members throughout the month, staff and Members have been subject to isolation through the close contact requirements as well as having Covid themselves. The Board thanks you for your understanding in the postponement of certain events including Ladies’ Opening Day as well as the Australia Day Golf Event.
Finance
The Board has the pleasure confirming that David Vosloo has been re-appointed as the Finance Director for another two years. David’s contribution and efforts over the past three years have been exceptional, and we look forward to his input and direction during his next term.
Our December trading results produced an EBITDA profit of $96,041 against a budgeted profit of EBITDA $36,238, a positive variance of $59,803. The year-to-date EBITDA is a profit of $259,153, which is a positive variance against budget of $360,870.
The Management team is in the process of finalising accounts for 2021 as we prepare for our annual audit that will commence in February.
Match and Greens
The renovation of The Palms golf course will end today after a lengthy and challenging renovation. As in previous correspondence to Members, the Golf Course Maintenance team has been significantly disrupted by weather and staff disruptions due to Covid.
The Board would like to thank the Members for their patience in having one golf course to utilise in January as well as the limits imposed on guests.
Members received notification this week that an additional double shotgun start will be utilised on The Pines golf course for the men’s and ladies’ competitions this Saturday. The Board has made this decision due to the delays in completing the renovations on The Palms. Again, thank you to the Members for accepting this late change which will enable us to get more players on the well-manicured The Pines course for this Saturday only.
The Match Committee has undertaken an extensive review of the indexing on The Palms golf course. Some of the holes will be changing index based on the statistics obtained from both men’s and ladies’ competition rounds. These changes will come into effect from 5 February 2022 for all handicap ranges. Further correspondence on this will be communicated to Members next week in the weekly newsletter.
Membership and General
On behalf of the Board, I would like to welcome 16 new Equity Members to our Golf Club in November which brings our total Equity Member number to 900. We are thrilled to reach this milestone and, remarkably, we have had 152 Equity Members join the Club in 2021.
In last month’s Board report we advised that a vaccination policy was soon to be distributed to Members. As you would be aware, this has been finalised and distributed, in line with the Government Mandates that are being introduced for 17 December 2021.
Election
On behalf of the Board and Members, thank you to Madonna Siokos and Don Telford for nominating for the position of Director in the recent election.
Congratulations to Don on being the successful applicant, the Board looks forward to Don’s involvement and contribution to the Club over the next two years.
We know that Madonna will continue to be an active Member and look forward to her ongoing involvement in the Club.
The Board also recognises and thanks Wayne Bastion’s valuable input and contribution to our Club over the last two years. Wayne has kindly offered to provide his ongoing assistance if needed which is greatly appreciated.
Finance
Our October trading results produced an EBITDA profit of $33,398 against a budgeted profit of EBITDA $32,829. The year-to-date EBITDA is a profit of $139,585, which is a positive variance against budget of $279,504.
Match and Greens
We had a successful renovation on The Pines golf course last month. While the recovery of all playing surfaces was rapid, the rain we have experienced the past two weeks will challenge us greatly throughout December. The large amount of rain with increasing humidity and heat will expedite weed growth as well as grass growth on playing surfaces that need to be cut almost daily.
The drainage works undertaken on The Pines golf course on holes 1, 8 and 11 during renovations have had amazing impact and have worked as expected during the recent rainfall.
Our annual renovations will commence on The Palms golf course from 4 January 2022. The course will be closed for just under three weeks which will allow our Golf Course Maintenance team to undertake a comprehensive program on all playing surfaces.
With The Palms closed for this period and an expected high volume of Member play on The Pines, Members will be restricted to bring one guest in this period on Mondays, Tuesdays, Thursdays and Sundays during social tee times only.
We thank the Members for their patience and support during these essential renovations of The Palms golf course, which are overdue after the heavy usage while The Pines was closed during the greens project in the first half of 2021.
In anticipation of this Sunday’s Sanctuary Cove Shootout, the Board wishes all Members participating in the event the very best of luck.
Club Person of the Year
The Board is extremely pleased to advise of the following nominations for Club Person of the Year for 2021:
Susan McLean
Brett Morgan-Evans
Colin Sinclair
Peter Spencer
Our sincere congratulations to the above nominees. The winner will be announced on Sunday evening 12 December following the Christmas Ambrose event.
Membership
I’d like to take this opportunity to welcome 10 new Equity Members to our Golf Club in October. This brings our total Equity Member number to 884. To date, we now have had 136 Equity Members join the Club in 2021 which is extremely positive.
Further, the introduction of a vaccination policy is being researched and discussed by the Board; more information will be distributed to Members in the coming weeks.
Congratulations to all Members who supported the fundraising efforts of the Club for our Go Pink month. Though a final weather-disrupted event from earlier in the month is still to be held, we are proud to share that the amount raised for vital breast cancer research is at a staggering $21,000. Thank you for your support, we look forward to communicating the final tally in the newsletter next week.
Finance
Our September trading results were an EBITDA profit of $67,329 against a budgeted profit of EBITDA $34,414. The year-to-date EBITDA is a profit of $106,187, a positive variance against a budgeted loss of $191,748.
Match and Greens
The renovations on The Pines golf course are nearing completion. We have also taken the opportunity to complete necessary drainage work upgrades on holes 1, 8 and 11. There will be minimal disruption in these areas to the Members when The Pines reopens.
In addition to the course works, The Pines practice putting greens underwent common couch removal and zoysia collar installation, while 1,000 pine tree seedlings were potted in preparation for planting in 12 months.
On The Palms golf course, common couch was removed from the greens on holes 1 to 4 as well as on hole 10, on which a zoysia collar was also installed.
Cart repair works continued, namely on hole 6 of The Palms, and on hole 21 of The Pines.
Following our annual pine tree audit, necessary works have been undertaken this week to the forest to tidy up any unhealthy trees.
Membership
We have the pleasure of welcoming an additional 9 new Equity Members to our Golf Club in September. This brings our total Equity Member number to 874.
A very warm welcome to you all.
Finance
Our August trading results where an EBITDA profit of $64,732.00 against a budgeted profit of EBITDA $111,982.00. The year-to-date EBITDA is a profit of $38,858.00, a positive variance against budgeted loss of $265,020.00.
Again, these results have been significantly impacted due to the effects of COVID, specifically in the first week of the month when we were forced into lockdown.
Match and Greens
As previously advised in the President’s correspondence, golf course renovations are approaching, with details outlined further below in the newsletter.
As a continuing message to all, please ensure to fill divots, repair pitch marks and rake bunkers once you have played your shot.
Congratulations Paul Sanders
On behalf of the Board, our Members and staff, we take great pleasure in congratulating our Executive General Manager, Mr Paul Sanders, on achieving the milestone of 10 years of service to our Club earlier this month.
Paul’s commitment and dedication to all of us, guiding and directing our Club throughout the last 10 years, have been exceptional.
Thank you, Paul.
Membership
The Board approved and welcomed nine new Equity Members along with two new Golf Access Members commencing in September, bringing our Equity Membership total to 865. We warmly welcome our new Members.
Finance
Our July trading results produced an EBITDA profit of $13,712 against a budgeted profit EBITDA of $60,524. These results are continuing to be severely impacted by the COVID restrictions and lock downs, which prevent any external or corporate income as was budgeted for.
Year to date EBITDA is a loss of $25,874, a positive variance against budgeted loss of $312,270. We anticipate that we will continue to experience these difficult trading times for the foreseeable future.
Match and Greens
As the warmer weather is now approaching, our Superintendent is seeing the new The Pines greens continue to improve, together with new tee boxes and other areas requiring grow-in.
Following recommendations from the Match and Greens Committee, the Board has approved the below changes to the Rules relating to Golf and to the By-Laws regarding penalties for driving golf buggies closer than 20 metres to greens, tee boxes and bunkers, or driving on course when the ‘carts on paths’ rule is in effect:
A comprehensive circular will be sent to Members providing more detail in relation to this, and the change will become effective from the 13th of September 2021.
We ask that Members please respect and follow the rules that are in place to protect our wonderful asset.
The Match and Greens Committee also seeks the support of Members to rake all bunkers after use, to fill divots and to fix pitch marks, to assist in ensuring that all of us can enjoy our magnificent facility and not be impacted by having to play from bad lies because these issues aren’t attended to.
General
The Board has approved the following expenditure:
$12,000
$10,000
Membership
It has been wonderful to see the continued interest in membership at our Club with an additional 17 Equity, 2 Golf Access and 5 Corporate Members joining us from the 1st of August.
A very warm welcome to all our new Members.
Finance
Our June trading results were an EBITDA loss of $76,754 achieved against a budgeted EBITDA loss of $113,100. This is a positive variance and improvement of $36,346 which has been achieved during some very difficult trading times thanks to continued strong efforts by our management team.
Match and Greens
The Superintendent confirms that the new greens on The Pines are progressing well with soil amendments, such as organic humates and gypsum being added monthly to help offset salts and improve root development. The greens are currently being walk mowed at a height of 3.75mm.
The Pines golf course plates and distances are to be measured and checked due to the changes in the golf course, particularly green sizes.
Congratulations to our Division 2 Pennant team on their recent win.
I’d like to take this opportunity to remind all Members to please fill your divots, repair pitch marks, rake bunkers and take care of your golf courses.
General
The Board has approved the following expenditure:
The recycled water discussion is a continuing one with nothing further to report at this time.
Membership
New Member growth is continuing, with the Board approving 10 new Equity Members to commence on 1 June, and a further 8 to commence on 1 July 2021. Also approved was 1 new Access Member.
A warm welcome to you all.
Finance
Our April trading results achieved an EBITDA loss of $58,614 against a budgeted loss of $118,523. This was in line with expectations following the cessation of the JobKeeper allowance. Our YTD EBITDA however is a profit of $109,979, a positive position against our budget and a great effort by our management team.
Match and Greens
Our ladies’ and men’s pennant teams for 2021 are finalised.
The Pines golf course works are progressing extremely well and in line with our much-anticipated reopening on Saturday 3 July. Detailed updates regarding this event have been communicated in the weekly Members’ newsletter.
It was agreed to trial the use of an independent referee for our Honour Board and Major Event finals until the end of the year, when the trial will be assessed.
General
The Board approved expenditure of $14,625 (exc. GST) for drainage works on The Pines hole 11.
The Members’ Information Evening held on Tuesday 11 May was attended by 22 Members. Hard copies of the agenda are available from Member Services for anyone wishing to obtain a copy.
The AGM was held on Thursday 13 May and the motion approving the cancellation of the Voluntary Forfeiture shares was passed unanimously.
The Palms toilet block is now operational, with final supplementary works to be completed in the coming weeks.
The annual The Pines tree audit is complete with pricing being sourced for minimal recommended works to be carried out.
The recycled water discussions with authorities are continuing, relating to the use of ‘C’ Class versus ‘A’ Class water and we will share relevant updates in due course.
Membership
Our membership enquiry and growth continue to be strong, with an additional 8 new Equity Members and 3 new Golf Access Members joining the Club for the month of April.
This brings our total number of Members at 1 April 2021 to:
Finance
March trading results achieved an EBITDA profit of $20,931 against a budgeted EBITDA loss of $7,370. This provides a YTD profit of $168,592, a great positive result to date against our budget. This result includes a Government JobKeeper payment of $93,900.
Match and Greens
The superintendent’s report on The Palms golf course is very positive, particularly following the recent rain event.
As you may be aware, weeds in The Palms lakes are currently an issue, which is being managed as quickly as possible.
The bunkers on the 17th hole of The Pines course are progressing extremely well.
General
Based on year-to-date results, the Board has approved the following expenditure as part of the 2021 Capital Plan:
Total Cost – $32,000.00
Membership
It is with great pleasure that we welcome an additional 8 new Equity Members, and 3 new Golf Access Members to our Club for the month of March. This brings our total new Members for this year to 51. Our membership enquiry continues to be strong thanks to our effective media advertising.
Finance
Our February trading results achieved an EBITDA profit of $19,201 against a budgeted loss $39,873. This provides a year-to-date EBITDA profit of $147,662 which is a very positive to date. The February result includes a $96,900 JobKeeper payment. Jobkeeper Government assistance payments have now ceased but will assist with the March results.
Match and Greens
The Pines greens are progressing extremely well with the contractor having completed all the contracted works, apart from some tidying up and additional works approved by the Board. The recent wet weather was a perfect test for the new greens, which handled the conditions exceptionally well both for drainage and growing conditions.
A further reminder to all Members to adhere to the “carts on paths” rules during wet conditions and as directed by staff.
General
The Board has taken the opportunity to utilise the contractor while on site to carry out some additional works as identified throughout the greens restoration project. These works have been communicated to you through the last two monthly Board reports, with the final additional approved works outlined below:
Total cost – $57,542.00
A notification will be issued shortly outlining the proposed reopening dates of The Pines golf course and the planned use over the initial two months.
Last, the Board approved the removal of two and the trimming of five large gum trees behind the 12th green and the 13th tee on The Palms golf course. This follows recommendations from an arboricultural report identifying safety risks with these trees.
Membership
The Board would like to welcome our new Members to the Club this month, including four (4) Equity Members, one (1) Golf Access Member and one (1) Corporate Access Member. Our membership enquiry continues to be strong showing that our advertising methods and commitment to facility improvements are producing good results.
Finance
January’s EBITDA for the month was a profit of $95,683 due to great membership numbers, strong retail sales and a $104,100 JobKeeper payment. This month’s results are expected to be considerably lower though in line with budget, as February is traditionally the quietest month of the year for the Club.
Match and Greens
The Pines greens are progressing extremely well as reported in previous weekly newsletters and despite recent rains, are still in front of the original program completion date.
A reminder to all Members that when “carts on paths” is in place, all Members must adhere to this direction. This is in place to protect our golf courses when they are wet, and our staff have the full support of the Board to ensure total compliance.
General
Lighting of the practice green to the left of the Arnold Palmer statue is scheduled to commence shortly which is being done to allow Members to practice putting and chipping of an evening. We have experienced a few delays with The Palms on-course toilet facilities and expect these to be installed in early March. The delivery of our new golf cart fleet has also been delayed and will now be delivered in late March into April. In addition, the solar installation for the golf club has been delayed and we expect this project to commence in the middle of the year.
The Board has accepted and approved the following recommendations for additional works for areas on the back nine holes of The Pines golf course to be carried out while contractors are on site:
We hope that all Members and their families enjoyed the festive season and had a wonderful New Year.
The Board would like to take this opportunity to welcome all of the 36 new Members that joined the Club in January. Membership enquiry early in the New Year remains very strong with our advertising platforms producing a lot of strong and positive leads.
The 2020 trading results for December showed an EBITDA profit of $136,722 achieved against a budgeted EBITDA profit of $7,236, a positive variance of $129,485. The year to date EBITDA was a profit of $428,063, which is a positive variance against budget of $46,032 (excluding Holdings operating results and subject to audit). Our annual audit commences in February with an AGM date to be communicated to the Members soon with the intent for a meeting to be held in early May.
The Palms is experiencing heavy traffic with the closure of The Pines golf course. Please ensure we respectfully look after the golf course by staying on the cart paths as often as possible, repair all divots and pitch marks. A reminder to all Members of the local rule on The Palms golf course in regards to bare patches:
A reminder to all Members that walking is permitted on both golf courses for both Members and their guests. This will be encouraged at all times as long as all players keep up with the group in front and in line with speed of play guidelines as noted in the ‘Rules Relating to Golf’.
Golf courses in QLD must operate under the approved Industry COVID-19 Safe Plan. Currently we must continue to operate without the use of bunker rakes, not remove flagsticks and recently we have adopted the policy that NTP markers and scorecards fall into the definition of shared equipment which need to be sanitised effectively after each use. We thank Members of their patience and support of operating effectively and safely under the prescribed rules. Recently sanitising stations have been added on NTP holes, at the water fountain in the golf shop, near the coffee machine and outside the golf shop beside the air compressor and we kindly request Members assist after each use.
A reminder to all Members living at Hope Island of the requirements when driving your golf cart to and from the Golf Club. Please ensure you have your Hope Island resident’s sticker on your golf cart before driving to the Golf Club, and take care when driving on shared paths being mindful of pedestrians and cyclists.
The Pines greens refurbishment is progressing extremely well and one month into the project, we remain on schedule even with over 130mm of rainfall in week two and three of the project.
We expect to commence rolling and cutting the green on hole 1 next week and grass stolens are now down on holes 2, 3, 4, 5,
During the project, the Board has considered a number of additional works and approved the following on the front 9 holes:
A big thank you to all Members for their patience and understanding during the project works on The Pines golf course.
Yours sincerely,
SCGCC Board
