Facility Upgrade Analysis
Ranch Country Club
THK Associates was hired by the Ranch Country Club in Northern Denver to determine the financial feasibility of upgrading various facilities at the course within the current economic climate. THK engaged in a wide breadth of activities to service the client’s needs.
A golf feasibility study identified the current market demand for golf along local courses vying for golf rounds played. This demand for golf eventually created the foundation for memberships and guest rounds, facility utilization, golf cart rentals and facility sales from food, beverage and the pro shop, etc. Current sales were compared to a projected increase in sales assuming the renovated facilities could capture additional players.
THK Associates also recommended a renovation for specific facilities including the entry, parking, signage, facades, green reconstruction, dining, fitness center, tennis courts and swimming pool. THK looked at phasing renovations over time to attain financial affordability so that the Ranch Country Club could better compete for the tier of clientele necessary to thrive. Based on the facility overhaul in conjunction with competitive facilities in the trade area, THK further recommended a complete pricing schematic that staggered the courses increases in rates, initiation fees, memberships and product mixes over time based on current competitors and projected competitor expansion. The projections and recommendations were supported by a cash flow analysis that compared revenue from projected upgrades along with costs that allowed THK’s clients to increase their competitive advantage in an increasingly evolving industry.
Featured Project: Frost Creek Ranch
The Denver Post heralded THK’s clients’ acquisition of Adam’s Rib Ranch in 2015 as easily qualifying as “the real estate deal of the century in Colorado.”
THK has the tools and capacity to help you visualize your future project. Learn more about the capabilities of our visualization team.