island gc market 2018 market analysis, september 2018 private and confidential introduction the...
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GLOBAL GOLF ADVISORS EMEA Rob Hill, Partner Block 1, Newtown Business Park Newtown Mount Kennedy, Ireland globalgolfadvisors.com
The Island Golf Club
Dublin, Ireland
September 2018
Market Analysis
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Market Analysis, September 2018
PRIVATE AND CONFIDENTIAL
TABLE OF CONTENTS
INTRODUCTION .................................................................................................................................................................................................. 3
KEY TAKEAWAYS AND RECOMMENDATIONS ................................................................................................................................................... 4
EXTERNAL MARKET ANALYSIS ............................................................................................................................................................................ 7
COMPETITIVE ANALYSIS ........................................................................................................................................................................................ 8
MEMBERSHIP PRICING COMPARISON .............................................................................................................................................................. 10
KEY COMPETITOR ANALYSIS ............................................................................................................................................................................ 19
CROSS COMPETITOR ANALYSIS ....................................................................................................................................................................... 22
INTERNAL MEMBERSHIP ANALYSIS ................................................................................................................................................................... 26
DEMOGRAPHIC PROFILE .................................................................................................................................................................................... 31
RESTRICTIONS ................................................................................................................................................................................................... 34
APPENDICES ......................................................................................................................................................................................................... 35
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Market Analysis, September 2018
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INTRODUCTION
The Island Golf Club (“IGC” or “the Club”) engaged Global Golf Advisors (“GGA”) to provide it with a detailed Market Analysis, as a
component of a new strategic plan. Given the competitive and supply factors evident in the local market, it is vital for the Club to have
a comprehensive and actionable understanding of its opportunities and limitations. GGA has focused on the following characteristics
in the club’s local market area:
1. Competitive Analysis – This analysis focused on similar clubs in Island GC’s market area. GGA compared demographic indicators
surrounding each comparable club as well as membership pricing and structures to determine any gaps or opportunities for Island
GC to adjust the Club’s current offerings.
2. Internal Analysis - This section focuses on the current member roster at Island GC, including a map of all members by home
address. GGA analysed the results and applied filters to the data to identify member demographic trends and also evaluated the
recent real estate performance of the top neighbourhoods in which Island GC members reside.
3. Demographics - Few clubs understand the demographic changes occurring around them. This is particularly evident distinguished
older private clubs.
All demographic data and diagrams in the External Market Analysis is sourced from ESRI©, a leading provider of domestic and
international data and cartography tools for market and business intelligence. All historical real estate performance statistics is sourced
from Redfin public real estate database.
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KEY TAKEAWAYS AND RECOMMENDATIONS
GGA has analysed both the external and internal market for Island GC to determine the best opportunities for the Club to target and
attract new members through appealing membership programming which provides excellent value-for-money relative to competitors.
The following section summarizes the key observations from the Market Analysis to follow and associated recommendations for the Club
to consider:
Key Observations – Competitive Analysis
• The all-in cost of €1,580 (Joined pre 2010) and €1,795 (Joined post 2010) at The Island GC is positioned below the competitive set
average for tenured members and in line with the competitive set average of €1,743 for new members. Full membership subs in
the competitive set range from €900 to €2,500.
o A significant price gap exists in the market, with St. Anne’s being the only competitor club priced between €1,500 and
€2,200. This is favourable for IGC as it provides flexibility to increase rates in the future while still offering greater affordability
than most high-end competitors.
• IGC charges the third highest entrance fee in the competitive set, which averages €5,923. Royal Dublin Golf Club and Portmarnock
Golf Club both charge an 8x multiplier of annual subs as the entrance fee.
• Food and beverage annual levies are uncommon in the market. However, key competitors Portmarnock and Royal Dublin do
charge members an annual levy, much higher than at IGC.
• Guest fees in the local market show a clear divide between top-tier facilities and second-tier competitor golf courses. The Island
GC is appropriately positioned within the top tier of golf facilities in the local market. Based on comparable value and feedback
from tour operators, IGC guest rates are appropriately priced and have elasticity to increase if the Club can enhance the auxiliary
golf experience for guests (i.e. pre-round, post-round, caddies, etc.).
• IGC and key competitors Portmarnock, Royal Dublin and County Louth have the lowest ratio of Full Subs / Peak green fee,
indicating a very affordable membership cost that can be justified by even the ‘occasional golfer’.
• Average subs per full member equivalent (FME) at IGC is significantly lower than key competitors Portmarnock and Royal Dublin,
indicative of the discounted annual subscriptions that several member groups receive.
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• The total annual cost of a 5-Day membership at IGC is priced above the average in the competitive set (€1,040). As a percentage
of each Club’s respective full membership, the average 5-day membership is priced at approximately two-thirds (66%) compared
to 64% at IGC.
o However, several competitors in the market do not offer a 5-Day membership. When considering the entire competitive set
for a prospective 5-day member, the IGC offering actually becomes more affordable than the competitive set average
and is price-positioned appropriately.
• IGC has an opportunity to start offering an attractive program for members aged 30-40, which is traditionally the age cohort with
the highest level of resignation at the Club. The local competitive market for this age cohort is largely untapped and attracting
more of these members will be critical to replenish the membership pipeline as the aging members transition out of the Club.
Key Observations – Demographics
• The population within a 10-minute drive of the Club is very limited but does exhibit higher average spending and income metrics
than the population further away from the Club
• The local population in the area within a 30-minute drive of the Club is approximately 825K people. Relative to competitor clubs,
The Island GC has a lower population base when shrinking the radial area to a 10-minute drive. (immediate neighbourhoods
surrounding the Club).
• Average Per Capita income within a 10-minute drive time radius is €22,865, decreasing to €20,470 at a 30-minute drive time radial.
• Relative to competitor clubs, Per capita income in the immediate neighbourhoods surrounding the Club 10-minute drive radial is
indexed at 116.6 (100=average), right in the middle of the competitive club average. Royal Dublin has the highest income profile
in the competitive set.
• The Island is one of the highest-rated courses on TripAdvisor and consistently recommended on tourism sites as one of the top
courses near Dublin. Majority of Ireland’s tourists come from Britain (nearly 3 million in 2017), and nearly 2.5 million came from
mainland Europe. Roughly, one million North Americans toured to Ireland, making up about 15% of annual tourists, and they tend
to be the biggest spenders. Almost all golf tourists are over 35 and most come with friends as opposed to a spouse or partner
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Market Analysis, September 2018
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Key Observations – Membership
• An analysis of the current member roster indicates the average age at the Club is 58 and the average member has been at the
Club for 23 years.
• There is a large group of members between the age of 70-80 (approx 185 members) which are likely to exit the club within the
next 10-15 years. Underutilization is a key factor for an aging membership profile and will drive signifignat turnover in this group.
• The large group of exiting members aged 21-36 indicates that the current intermediate membership program has an opportunity
to be more conducive to converting intermediate members into full members.
• The vast majority of Island GC members reside within the 30-minute drive radial of the Club. New members are increasingly being
sourced from areas in south Dublin, especially younger members.
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Market Analysis, September 2018
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EXTERNAL MARKET ANALYSIS
The profile of the local market contemplates the entire local area, with a focus on the 30-minute drive radial surrounding the Club. GGA’s
analysis is based on a detailed analysis of demographics, industry statistics and trends, and a sample of similar private clubs.
Exhibit 1: The Island GC Drive-Time Radials (10, 20, 30 mins) and Radials (5, 10, 20 KM)
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Market Analysis, September 2018
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COMPETITIVE ANALYSIS
GGA has completed a detailed analysis for a competitive set of clubs that was established based on input from the Club (member focus
groups) and other local market research. In order to effectively position the membership offering at The Island GC, it is important to
understand, in as much detail as possible, the membership offerings at all comparable private clubs in the local market area. The exhibit
below, lists the clubs included in the competitive sample.
Exhibit 2 – Competitive Set Overview
Club Peak Rate Tour Rate Full Sub /
Peak Rate
Members
(FME)
Average Sub
per FME
Island Golf Club €175 €145 8 558 €1,023
Howth GC €75 €75 18 404 €1,350
Malahide GC €62 - - - -
Forrest Little GC €35 €35 41 - -
Roganstown GC €55 €55 25 - -
Beaverstown GC €40 €35 21 - -
Portmarnock Links €200 €95 13 - -
Portmarnock GC €250 - 8 555 €1,315
Royal Dublin GC €175 €145 9 496 €1,952
St Annes €130 - 15
County Louth GC €125 - 7 564 €595
European €225 €191 10 - -
Competitor Average €125 €90 16.7 505 €1,303
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Market Analysis, September 2018
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Competitive Set - Key Observations
i. Guest fees in the local market show a clear divide between top tier facilities and second-tier competitor golf courses. IGC is
well appropriately positioned within the top tier of golf facilities in the local market.
ii. IGC and key competitors Portmarnock, Royal Dublin and County Louth have the lowest ratio of Full Subs / Peak green fee,
indicating a very affordable membership cost that can be justified by even the ‘occasional golfer’.
iii. Average subs per full member equivalent (FME) at IGC is significantly lower than key competitors Portmarnock and Royal
Dublin, indicative of the discounted annual subscriptions that several member groups receive.
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Market Analysis, September 2018
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MEMBERSHIP PRICING COMPARISON
One of the key questions potential members ask when evaluating clubs is, “How much will it cost per month/year?” The annual cost to
belong to a club is very important to most prospective members for Island GC and competing clubs. In order to determine how The
Island GC compares, GGA has identified the ‘annual cost to belong’ for each club in the competitive set. The calculation is based on
mandatory annual subs (operating and capital) as well as mandatory Food and Beverage Levy charges.
Exhibit 3 – Comparison of 2018 Full Membership Fees and Subs
Club
Total
Entrance
Fee 2018
Annual Subs Capital Levy
Annual Cost
Before
Levies
F&B Levy
Total
Annual
Cost 2018
Island Golf Club (Joined pre-2010) ** €10,000 €1,355 €125 €1,480 €100 €1,580
Island Golf Club (Joined 2010 or later) €10,000 €1,570 €125 €1,695 €100 €1,795
Portmarnock Links# €0 €2,500 - €2,500 - €2,500
Royal Dublin GC €13,200 €1,650 €450 €2,100 €300 €2,400
Portmarnock GC €15,200 €1,900 - €1,900 €400 €2,300
European# €6,000 €2,200 - €2,200 - €2,200
St Annes €6,000 €1,700 - €1,700 €200 €1,900
Howth GC €1,000 €1,350 €124 €1,474 - €1,474
Forrest Little GC €0 €1,441 - €1,441 - €1,441
Roganstown GC#* €0 €1,400 - €1,400 - €1,400
County Louth GC €6,000 €915 - €915 - €915
Beaverstown GC €0 €850 €50 €900 - €900
Competitor Average €5,925 €1,591 €208 €1,653 €300 €1,743
*Debenture Share price of €20,000 available but not necessary. #For-Profit Clubs
**Observations to follow will focus on the rates for members who joined prior to 2010, as this represents a larger portion of the membership and is more
representative of what the average IGC ordinary member pays on an annual basis.
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Market Analysis, September 2018
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Full Membership - Key Observations
i. The all-in cost of €1,580 (Tenured) at IGC is positioned slightly below the competitive set average of €1,743. The new member all-in
cost (€1,795) is just above the competitor average. Full membership subs in the competitive set range from €900 to €2,500.
ii. IGC charges the third highest entrance fee in the competitive set, which averages €5,925. Both Royal Dublin Golf Club and
Portmarnock Golf Club charge an 8x multiplier of annual subs as the entrance fee.
iii. Food and beverage annual levies are uncommon in the market. However, key competitors Portmarnock and Royal Dublin do charge
members an annual levy, much higher than at IGC.
iv. The membership programs in the competitive set are highly consistent in terms of the categories offered to prospective members.
The common categories across the competitive set are as follows:
a. Full Membership
b. Five Day Membership
c. Intermediate- typically offered until age 30
d. Junior
e. Non-Resident / Overseas
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Market Analysis, September 2018
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The Exhibit below helps to illustrate IGC’s current price positioning within the competitive set, as it relates to joining fees and annual costs:
Exhibit 4: Price Positioning Map – Annual Cost and Joining Fee
Island Golf Club (Joined after 2010)
Portmarnock Links
Royal Dublin GC
Portmarnock GCEuropean
Howth GC
Forrest Little GC
Roganstown GC
St Annes
County Louth GCBeaverstown GC
Competitor Average
€ -
€ 500
€ 1,000
€ 1,500
€ 2,000
€ 2,500
€ 3,000
€ - € 2,000 € 4,000 € 6,000 € 8,000 € 10,000 € 12,000 € 14,000 € 16,000
Tota
l A
nn
ua
l C
ost
Entrance Fee
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Market Analysis, September 2018
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5-Day Memberships
The 5-Day membership is an important category for IGC and a common offering in the market. The Exhibit below compares membership
pricing within the competitive set for all similar 5-Day categories where golf access is restricted, and other amenity access is similar to the
offering at IGC. Clubs are ranked in order of ‘total annual cost’ including food and beverage levy to belong as a 5-Day member:
Exhibit 5: Comparison of 5-Day Memberships
Club Annual
Dues Capital Dues
Annual Cost
Before
Minimums
F&B Levy
Total
Annual Cost
2018
% of Full
Membership
Island Golf Club €916 €125 €1,041 €100 €1,141 64%
Royal Dublin GC €1,180 €200 €1,380 €300 €1,680 70%
Portmarnock GC €1,315 - €1,315 - €1,315 57%
St Annes €980 - €980 €200 €1,180 62%
Howth GC €905 €24 €929 €75 €1,004 68%
Forrest Little GC €958 - €958 - €958 66%
Roganstown GC €850 - €850 - €850 61%
County Louth GC €595 - €595 €150 €745 81%
Beaverstown GC €540 €50 €590 - €590 66%
Total Competitor Average €915 €91 €950 €181 €1,040 66%
5-Day Membership - Key Observations
i. The total annual cost of a 5-Day membership at Island GC is priced above the average in the competitive set (€1,040). As a
percentage of each Club’s respective full membership, the Island’s pricing for this category is in line with the market average.
ii. Several competitors in the market do not offer a 5-Day membership. When considering the entire competitive set for a
prospective 5-day member, The Island GC actually becomes more affordable than the competitive set average and is
positioned similarly to the full membership positioning.
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Market Analysis, September 2018
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Exhibit 6: Key Competitor Summary of Core Memberships
Category Count Access Subs + Capital
% of Full
Subs +
Capital
Island Golf Club - Full 558 Full €1,695
Island Golf Club - 5-day 31 No Golf on weekends €1,041 61%
Portmarnock GC - Full 555 Full €1,900
Portmarnock GC - 5-day 90 No Golf on weekends €1,315 69%
Royal Dublin GC - Full 496 Full €2,100
Royal Dublin GC - 5-day 102 No Golf on weekends €1,380 66%
County Louth GC - Full 564 Full €915
County Louth GC - 5-day 86 No Golf on weekends €595 65%
Competitor Average (Full) 543 €1,653
Competitor Average (5-day) 77 €1,077 65% *Membership counts reflect latest available data
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Market Analysis, September 2018
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Intermediate Memberships
The Intermediate membership is an essential component of any Club’s ability to fill the pipeline of potential new full members. The exhibit
below compares membership pricing within the competitive set for all similar Intermediate categories to ensure that the offering at IGC
is well-aligned and provides reasonable value in the market.
Exhibit 7: Comparison of Intermediate Memberships Annual Costs
Club 19 - 24 % of Full Subs +
Capital 25 - 29
% of Full Subs
+ Capital
Island Golf Club €664 39% €1,350 80%
Howth GC €550 37% €550 37%
Forrest Little GC €400 28% €641 44%
Roganstown GC €400 29% €600 43%
Beaverstown GC €570 63% €780 87%
Portmarnock GC €1,030 54% - -
Royal Dublin GC €572 27% - -
St Annes €1,700 100% €1,700 100%
County Louth GC €330 36% €680 74%
Competitor Averages €694 47% €825 64% *Intermediate subs at The Island GC represent the midpoint of each age category and exclude F&B Levy.
Intermediate Membership - Key Observations
i. The Island GC’s total annual cost for members aged 25-29 is the second highest of any competitor after age 25. Priced at 80%
of a full membership, the discount is lower than that of the competitor average (64%). However, key competitors such as
Portmarnock and Royal Dublin offer no discount at all to this category.
ii. IGC’s total annual cost for members under age 25 is the third highest of any competitor at €664. Priced at 39% of the full
membership annual cost, the percentage-based cost for this category is lower than the competitor average of 47%.
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Market Analysis, September 2018
PRIVATE AND CONFIDENTIAL
iii. Entrance fee structures vary greatly but commonly incorporate a longer-term payment plan and either a discounted entrance
fee or credits that accumulate for each year of Intermediate membership and can be applied to the Full membership
entrance fee upon conversion.
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Market Analysis, September 2018
PRIVATE AND CONFIDENTIAL
Golf tourism and tour operated rounds are a large driver of revenue for The Island GC. In order to better understand the current offering
of the Club, GGA contacted local tour operators to gain their insight and perspective of the Club’s current offering.
Exhibit 8: Tour Operator (“TO”) SWOT
Strengths
• Island is good value for money for TO’s and they are
happy with the tour operator rates - margins are good
• Visitors love the golf course and are often surprised by it
not having the same awareness as other premium links
• Administration is responsive and flexible at the club which
is very important to TO’s
• TO’s have confidence that their clients will be well looked
after
• Less polished/formal than Portmarnock and the
understated atmosphere is appealing
Weaknesses
• Caddies can be unreliable
• Arrival and shop experience must be improved – welcome
is critical
• There is low international awareness of the Club
• Storage, changing and dining facilities for visitors are all
ranked as weaknesses by TO’s.
Opportunities
• Some weekend slots would carry a premium (4 – 6 tee
times) and would be in high demand by TO’s
• Strong Caddie program would be highly valuable –
caddies are vital for tour operator group experience
• There is opportunity to increase rates over time if value is
protected, caddies are guaranteed and course
presentation meet the highest standards
• Dedicated staff to manage TO groups on the day for
arrival, practice, caddie allocation, pace-of-play etc
would enhance the experience
Threats
• Club must continue to improve its golfing experience or
risk being left behind.
• Tour operators demand service, flexibility and value for
money.
• Poor Communication – TO’s want to know anything that
may impact their clients experience in advance of their
arrival at the club.
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Market Analysis, September 2018
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Golf Tourism Summary1
• The Island Golf Club is offered as a destination on many Irish tourism sites
• Pre-determined golf packages tend to include The Island, especially ones focused around the East Coast or Dublin area
• Cost of these tours vary, averaging between €2,000 and €3,000 excluding flights (includes hotel, a week of accommodation and
5-6 courses)
• Proximity to Dublin certainly encourages tourism – The Island is one of the highest-rated courses on TripAdvisor and consistently
recommended on tourism sites as one of the top courses near Dublin
• Majority of Ireland’s tourists come from Britain (nearly 3 million in 2017), and nearly 2.5 million came from mainland Europe.
Roughly 1 million North Americans toured to Ireland, making up about 15% of their annual tourists
• 13% of tourists play golf while in Ireland
• The average golf tourist in 2013 spent €1,200, which is roughly 2.5 times the average tourist. 20% of this money is typically spent
on green fees
• North American golf tourists tend to be the biggest spenders
• Almost all golf tourists are over 35 and most come with friends as opposed to a spouse or partner
1 Golf Tourism Sources
• https://irishgolftours.com/tours/classic-links-east-coast/customise
• https://www.irishtourism.com/group-golf-tours/dublin-golf-tournament-tour/2307
• http://www.golfdigestirishtours.com/page/package/3
• https://www.irishexaminer.com/ireland/golf-tourism-nets-200m-from-163k-visitors-231040.html
• http://www.failteireland.ie/FailteIreland/media/WebsiteStructure/Documents/3_Research_Insights/5_International_Tourism_Trends/Tourism-
Facts-2017_1.pdf?ext=.pdf
• https://www.tripadvisor.ca/Attractions-g186591-Activities-c61-t60-Ireland.html
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Market Analysis, September 2018
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KEY COMPETITOR ANALYSIS
Portmarnock Golf Club
Overview
Within a picturesque curve of coastline, 10 miles to the north of Dublin City and only a 15-minute drive from Dublin Airport, Portmarnock
Golf Club sits majestically on a narrow tongue of shallow dune land. And as a measure of its enduring quality, it remains one of the most
respected venues in world golf. No other Irish course has been graced by so many distinguished players in a rich history encompassing
a broad sweep of significant events. It is where Arnold Palmer and Sam Snead successfully followed its serpentine route through classic
links land on their way to victory in the 1960 Canada Cup. And it is where another generation of Americans, including Phil Mickelson and
David Duval, secured a memorable Walker Cup triumph in 1991. These events, along with 19 stagings of the European Tour's Irish Open
Championship, reflect the quality of a searching examination across the link's twenty-seven holes. We look forward to warmly welcoming
you to play our Championship links, which are rated consistently at the top of national polls, including the Golf Digest rankings.
Amenities and Member Benefits:
- Full Practice facilities
- Top tier Clubhouse
- Dining room and restaurant
- 18 Hole championship course
Membership Structure
1. Ordinary 5. Overseas 9. Overseas Ordinary
2. Junior Ordinary 6. Junior 10. Overseas Junior Ordinary
3. 5 Day 7. Juvenile 11. University
4. Country 8. House
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Market Analysis, September 2018
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Royal Dublin Golf Club
Overview
Founded in 1885 by Sir John Lumsden, The Royal Dublin Golf Club is steeped in golfing history and presents a stern golfing examination
on a truly magnificent links course and is widely accepted as one of the greatest links courses in the world. The links was originally designed
by H.S.Colt, the world-famous golf architect from Sunningdale. The Royal Dublin Golf Club has hosted many Irish championships, starting
with the Irish Amateur Open back in 1894. The Royal Dublin Golf Club hosted The Carrolls Irish Open from 1983-1985 with Seve Ballesteros
winning in 1983 and 1985 and Bernhard Langer winning in 1984. The Club has also regularly hosted the Irish Amateur Close and the Irish
PGA. “Five-star golf”, “a top course”, “challenging but rewarding” are some of the comments made by our visitors after playing the links
at The Royal Dublin Golf Club. The links is a traditional out-and-back design created in 1920 by Harry Colt. In the early 2000’s the Club
enlisted links design expert Martin Hawtree to make significant changes which have been widely praised and acknowledged by many.
After these changes the links remains challenging for today’s golfer.
Amenities and Member Benefits:
- 18 Hole championship course
- 4 dining room options
- Full Practice Facilities
Membership Structure
1. Ordinary 5 Pavilion 9 Overseas Life 13. Honorary Life
2. Life 6 House 10 Temporary Member 14. Honorary
3. Honorary Life 7 Country 11 Junior/Intermediate 15. Cadets
4. Five Day 8 Overseas 12. University Students Playing 16. Country/Overseas
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Market Analysis, September 2018
PRIVATE AND CONFIDENTIAL
County Louth Golf Club
Overview
Founded in 1892, County Louth Golf Club, or Baltray as it is more commonly known, has established itself as one of Ireland’s finest links
courses. Winner of the 2017 IGTOA Links course of the year and host to two Irish Opens the course stands as a par 72 and measures 7,031
yards from the Championship tee. It is situated 4 miles from the historic town of Drogheda at the mouth of the river Boyne. With the river
to the south and the Irish Sea to the east, this is Links golf at is very best, with only the muted murmur of a ships engine to break the sounds
of nature, as it quietly winds its way up river to the port. The golf course at County Louth is consistently ranked among the Top 10 courses
in Ireland. Sometimes ferocious and other times benign, it provides competition for all handicaps. In today's language it could well be
described as "user friendly". County Louth Golf Club has a tradition of hosting major National and International events both Amateur and
Professional, including the Irish Open in 2004 and 2009. It is currently host venue for the Irish Women’s Amateur Open, the East Of Ireland
Amateur Championship, and R&A Open Qualifying.
Amenities and Member Benefits:
- 18 Hole championship course
- Full Practice Facilities
- Clubhouse with Accommodations
Membership Structure
1. Ordinary 5 Senior Life 9 Student 13. Overseas
2. Life 6 Five Day 10 Intermediate
3. Honorary 7 Lady Associate 11 Senior Intermediate
4. Veteran 8 Junior 12. Pavilion
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Market Analysis, September 2018
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CROSS COMPETITOR ANALYSIS
The Cross-competitor section, to follow, highlights the strengths and weaknesses of the facility’s location compared to a selection of
facilities which GGA believes to be key competitors, by providing key demographic indicators within a 10-minute drive time radius of
the Club and its key competitors.
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Market Analysis, September 2018
PRIVATE AND CONFIDENTIAL
0
20,000
40,000
60,000
80,000
100,000
120,000
County Louth
Golf Course
Beaverstown
Golf Course
The Island Golf
Course
Portmarnock
Golf Club
Howth Golf
Course
Roganstown
Golf & Country
Club
Royal Dublin
Golf Course
Malahide Golf
Course
Forrest Little Golf
Course
Exhibit 9: 2017 Total Population (10 Minute Drive Radial)
2017 Total Population Age 0-14 2017 Total Population Age 15-29 2017 Total Population Age 30-44
2017 Total Population Age 45-59 2017 Total Population Age 60+
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Market Analysis, September 2018
PRIVATE AND CONFIDENTIAL
96.8102.2 102.6
112.2 116.6 117.8 120.5 123.5 127.2
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
County Louth
Golf Course
Forrest Little
Golf Course
Roganstown
Golf & Country
Club
Malahide Golf
Course
The Island Golf
Course
Beaverstown
Golf Course
Portmarnock
Golf Club
Howth Golf
Course
Royal Dublin
Golf Course
Exhibit 10: 2017 Purchasing Power: Index
309522 607
1,1671,475
2,2292,646
2,898
4,975
0
1,000
2,000
3,000
4,000
5,000
6,000
County Louth
Golf Course
Beaverstown
Golf Course
The Island Golf
Course
Portmarnock
Golf Club
Howth Golf
Course
Roganstown
Golf & Country
Club
Royal Dublin
Golf Course
Malahide Golf
Course
Forrest Little
Golf Course
Exhibit 11: 2017 Pop 15+/Edu: Ordinary Bachelor's Degree or National Diploma
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Market Analysis, September 2018
PRIVATE AND CONFIDENTIAL
99.6100.8
101.9
108.2
112.9114.0 114.5
116.4 116.6
90.0
95.0
100.0
105.0
110.0
115.0
120.0
County Louth
Golf Course
Forrest Little
Golf Course
Roganstown
Golf & Country
Club
Malahide Golf
Course
The Island Golf
Course
Beaverstown
Golf Course
Portmarnock
Golf Club
Howth Golf
Course
Royal Dublin
Golf Course
Exhibit 12: 2017 Toys, Games, Hobby, Sports, Garden, & Pets Expenditures: Index
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Market Analysis, September 2018
PRIVATE AND CONFIDENTIAL
INTERNAL MEMBERSHIP ANALYSIS
It is important to understand the residential patterns and demographics of existing members. The Exhibit below highlights the category
count, age and tenure as a member of the Club:
Exhibit 13: Member Category Profile
Category Members Average Tenure Average Age Annual Subs
Ordinary (Joined Pre 2010) 576 25 62
€1,580
Ordinary (Joined Post 2010) €1,795
Under 16 60 2 14 €162
Senior 48 41 83 -
Outport 34 24 50 €550
5 Day 32 21 65 €1,116
Intermediate 17 7 23 339-1481
Overseas 15 6 58 €832
Junior 14 4 17 €216
Honorary 13 34 73 -
International 5 4 26 -
Officer 5 28 66 €225
Female Associate 4 31 63 €935
Temporary 1 1 52 €2,681
Grand Total 824 23 58
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Exhibit 14: Members by Age
The chart exhibits a large group of members between the age of 70-80 (approx 185 members) which are likely to exit the club within
the next 10-15 years. Underutilization is a key factor for an aging membership profiule and will drive signifignat turnover in this group.
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Exhibit 15: Members by Tenure
Exhibit 16: Resigned Members by Age
The large group of exiting members aged 21-36 indicates that the current intermediate membership program may not be conducive
to converting intermediate members into full members. There is an opportunity to stand out in the market by offering a more attractive
package to members aged 30-35.
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Member Mapping
Exhibit 17: All Current Members
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Exhibit 18: New Member (Tenure < 3) Exhibit 19: Young Members (Age < 50)
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DEMOGRAPHIC PROFILE
GGA leveraged ArcGIS demographic software from ESRI to evaluate the demographic characteristics of the market area surrounding
The Island GC, with a focus on the 20 mile and 30-minute drive radials. Appendix A summarizes key demographic indicators for these
radials around the Club.
The following is a summary of key observations to note from the demographic profile surrounding The Island GC:
10,373
194,045
825,212
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
10 minutes 20 minutes 30 minutes
Exhibit 20: 2017 Total Population
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Market Analysis, September 2018
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3,491
66,529
294,655
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
10 minutes 20 minutes 30 minutes
Exhibit 21: 2017 Total Households
117
99
104
90
95
100
105
110
115
120
10 minutes 20 minutes 30 minutes
Exhibit 22: 2017 Purchasing Power Index
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Exhibit 23: 2017 Purchasing Power Index
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RESTRICTIONS
This report is strictly intended for use by The Island Golf Club. It is not to be reproduced or used for any other purpose other than outlined
above without our prior written permission in each specific instance. GGA assumes no responsibility or liability for losses occasioned to
the directors or shareholders, or to any other parties as a result of the circulation, publication, reproduction or use of this report and
analysis contrary to the provisions of this paragraph.
GGA reserves the right (but will be under no obligation) to review all calculations included or referred to in this report and, if we consider
it necessary, to revise our conclusions in light of any information which becomes known to GGA after the date of this report.
GGA instructs that its analysis must be considered as a whole and that selecting portions of the analysis or the factors considered by us,
without considering all factors and analyses together, could create a misleading view of the process underlying the recommendations
and conclusions. The preparation of a Market Analysis is a complex process and is not necessarily susceptible to partial analysis or
summary description. Any attempt to do so could lead to undue emphasis on any particular factor or analysis.
Global Golf Advisors EMEA Ltd.
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Market Analysis, September 2018
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APPENDICES
Appendix A – Population Profile
2017 Total Population Age 45-59 2,191 34,629 143,869
2017 Total Population Age 60+ 1,079 27,385 125,749
2017 Total Population Age 15-29 1,734 38,534 170,433
2017 Total Population Age 30-44 2,656 50,264 217,720
2017 Population Per Mill 2.2 40.4 171.9
2017 Total Population Age 0-14 2,713 43,233 167,441
2017 Total Population 10,373 194,045 825,212
2017 Population Density (per sq. km) 769.1 867.3 1,151.4
10 minutes 20 minutes 30 minutes
2017 Population Totals (MBR)
2017 Average Household Size 3.0 2.9 2.8
2017 Household Totals (MBR)
2017 Total Households 3,491 66,529 294,655
2017 HHs: Non-Family Households and Relations 45 1,488 7,768
2017 HHs: Two or More Non-Related HH
Members
107 3,375 20,125
2017 HHs: Single Mother with Children & Others 38 1,053 4,164
2017 HHs: Two or More Family Units 39 1,440 5,391
2017 HHs: Couple with Children and Others 76 1,738 7,045
2017 HHs: Single Father with Children & Others 7 199 764
2017 HHs: Single Mother with Children 289 7,417 28,384
2017 HHs: Couple and Others 28 1,100 5,098
2017 HHs: Cohabiting Couple with Children 157 3,062 11,435
2017 HHs: Single Father with Children 52 962 3,832
2017 HHs: Cohabiting Couple 158 2,818 14,901
2017 HHs: Married Couple with Children 1,483 21,677 85,754
2017 HHs: Single Person 614 12,001 63,242
2017 HHs: Married Couple 399 8,199 36,750
2017 Households by Type (MBR)
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2017 Pop 15+/Edu: Not Stated 394 10,417 47,188
2017 Pop 15+/Edu: Postgraduate Degree 720 10,477 58,764
2017 Pop 15+/Edu: Doctorate (PhD) or Higher 74 929 5,775
2017 Pop 15+/Edu: Ordinary Bachelor's Degree 596 9,127 40,696
2017 Pop 15+/Edu: Honors Bachelor's Degree 826 12,704 62,568
2017 Pop 15+/Edu: Advanced Certificate 397 6,841 26,002
2017 Pop 15+/Edu: Higher Certificate 398 5,992 24,646
2017 Pop 15+/Edu: Upper Secondary 1,192 24,381 96,704
2017 Pop 15+/Edu: Technical Qualification 570 10,886 42,552
2017 Pop 15+/Edu: Primary Education 331 11,723 51,969
2017 Pop 15+/Edu: Lower Secondary 640 16,854 66,863
2017 Pop 15+/Edu: Education not Ceased 1,409 28,788 126,469
2017 Pop 15+/Edu: No Formal Education 112 1,693 7,575
10 minutes 20 minutes 30 minutes
2017 Educational Attainment (MBR)
2017 Purchasing Power: Per Capita €22,865 €19,395 €20,470
2017 Purchasing Power: Index 117 99 104
2017 Purchasing Power: Total €237,178,086 €3,763,535,860 €16,891,738,859
2017 Purchasing Power: Per Mill 2.5 40.0 179.5
2017 Purchasing Power (MBR)
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Appendix B: Real Estate Analysis – 2018 Q2