Welcome Dove Canyon Golf Club, Wednesday, May 22, 2013 Member Presentation

Transcription

1 Welcome Dove Canyon Golf Club, Wednesday, May 22, 2013 Member Presentation

2 Pacific Links International is a Canadian owned golf corporation pursuing a strategy of acquiring signature properties in select world markets. Founded in 2009, the company is focused on implementing a plan whose main feature is reciprocal access to multiple clubs around the world that have strong design and deliver a memorable golf experience.

3 The company is wholly owned by Du Sha, a Canadian citizen and one of China's most respected entrepreneurs. Mr. Du is Chairman of Pacific Links. Bruce Simmonds, Chief Executive Officer of Pacific Links, founded and grew ClubLink into Canada's largest owner and operator of golf clubs.

4 Pacific Links own or operates ten courses in Hawaii, Nevada, California and West Virginia in the United States, and in China. With its substantial financial resources, Pacific Links plans to continue to grow through acquisitions and the development of quality golf properties, in targeted markets in some of the world s most desirable tourist and vacation home destinations, providing our Members and guests with more opportunities to enjoy reciprocal access.

5 Southern Highlands Golf Club The last course (and one of only four in the world) to be co-designed by the late Robert Trent Jones Sr. and his son Robert Trent Jones Jr. Southern Highlands is among the Top 100 courses in the United States as ranked by Golfweek magazine.

6 SouthShore Golf Club With its superb conditioning, recently renovated bunkering and nuanced greens, the Jack Nicklaus Signature Course ignites a golfer s passion and provides a peaceful escape.

7 Royal Hawaiian Golf Club At Royal Hawaiian, Perry Dye (son of legendary Pete Dye) has integrated crafty golf holes into tumbling terrain framed by ancient jungle trees upwards up of 100 feet tall at the foot of the Ko'olau Mountains in Oahu.

8 Kapolei Golf Club A PGA Champions Tour Event in Hawai i added in 2012, the Pacific Links Hawai i Championship to be played at Kapolei Golf Course on September 16-22, Designed by architect Ted Robinson, Kapolei is Golf Digest pick as one of the finest courses in Hawaii.

9 Makaha West Golf Club To take full advantage of the beauty of the tranquil Mākaha Valley and the Waianae Mountains, Pacific Links has engaged Greg Norman to remake Mākaha West into an unforgettable championship course.

10 Makaha Valley Golf Club Pacific Links newest addition is nestled in captivating lowlands, Mākaha Valley Country Club provides the other half of the one-two punch in this beautiful tourist region. Adjacent to Mākaha Golf Club West, Mākaha Valley was designed by William Bell.

11 Olomana Golf Links The twin peaked land formation of the neighboring Mount Olomana has been described as the "powerful shoulders" of a giant who possessed supernatural powers that enabled him to perform great deeds. Mere mortals who play at Olomana today have been inspired to perform "great deeds" of their own with the great scores they shoot.

12 Dove Canyon Golf Club This magnificent Jack Nicklaus Signature course the only golf course in Orange County designed with the Masters touch boasts stunning mountain views amidst beautiful lush canyons. Ranked in 1994 by Golf Digest among the Top 3 golf courses in Orange County and among the Top 11 golf courses in the state of California, this 6,902 yard par-71 golf course takes you for a breathtaking round past sparkling waterfalls and rolling fairways to greens so well bunkered it will test the skill of any player.

13 Pete Dye Golf Club One of the masters of the modern era of golf design, Pete Dye worked his legendary style to transform a former coal mine in the mountains of West Virginia into a stunningly beautiful and engaging course that ranks among his greatest works. No. 45 on Golf Digest s ranking of America s 100 Greatest Courses

14 The 27 Club - China The 27 Club is certainly among golf s most exciting projects; 27 golf champions including Greg Norman, Mark O Meara, Tom Watson, Fred Couples, Annika Sorenstam and Vijay Singh are designing their favourite elements into each hole, reflecting the unique character of their individual games.

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16 USA Pacific Links Growth Plan Hawaii 17 New York 6 Los Angeles 10 Chicago 5 Houston 5 Philadelphia 4 Phoenix/Scottsdale 4 San Antonio 3 San Diego 3 Dallas 3 San Jose 2 Jacksonville 2 Indianapolis 2 Austin 2 San Francisco 4 Columbus 3 Fort Worth 3 Charlotte 3 Detroit 3 El Paso 2 Memphis 2 Boston 3 Seattle 3 Denver 3 Baltimore/Washington 3 Portland 2 Oklahoma City 2 Las Vegas 8 Tucson 2 Fresno 2 Sacramento 2 Long Beach 2 Mesa 2 Atlanta 3 Oakland 2 Cleveland 2 Orlando 3 Tampa Bay 2 Naples/Marco Island 2 West Palm Beach 2 Oahu (8) Maui (5) Kauai (2) Big Island (2) Sub total 138 Canada Greater Toronto 9 Ottawa 2 Montreal 5 Quebec City 2 Calgary/Alberta 4 Vancouver 4 Sub total 26

17 Links 2 Golf Concierge Services Tee Times Flights Accommodations Ground Transportation TPC PASSPORT TEE TIMES Through Pacific Links relationship with the PGA TOUR, Pacific Links Members have reciprocal access to all 23 clubs in the PGA TOUR s TPC Network through the TPC Passport program and more than a dozen clubs in the Heritage Golf Group in the United States

18 Dove Canyon Golf Club Property enhancements Membership categories, policies and pricing Refer a friend program Questions and Answers Reception

19 Property Enhancements 5 Year Plan Budget 6,200,000

20 Golf Course - Budget $4,550,000 Capital Improvements Golf Course Improvement Nicklaus Consulting X Fairway Bunker Repair X X Driving Range Expansion X X Landscaping Slopes/Clubhouse X X X X X Irrigation Controllers X X Valves X X Drainange X X Tree Pruning X X X X #18 Waterfall Repair X Cart Paths X X Course Signange X X Tee Box Leveling X X Golf Carts X

21 Fairway Bunker Repair BEFORE AFTER

22 Equipment Budget $ 1,200,700 Maintenance Equipment Toro Sand Pros X Utility Vehicles (3) X Rough Mower X Misc. Other Replacement Equipment X X X X GPS fro Golf Carts X Maintenance Bid Improvements X Parking Lot X Golf Club Road Repair X

23 Clubhouse - Budget $395,000 Clubhouse Improvements HVAC X Clubhouse Woodwork X Ladies Locker Re Decorate X Banquet Chairs X Misc. FF&E X X Capital and/or Operating Assessments Pacific Links International (PLI) is responsible for all capital enhancements and operating losses (if any) at every PLI Club and as such; Members are not levied Capital or Operating assessments.

24 Membership categories, policies and pricing

25 Pacific Links Members receive access to a long list of benefits not available through a traditional golf club membership, including: Access to all Pacific Links growing portfolio of owned properties and affiliate club relationships Preferred tee times at your Home Club Family Membership and Event Programing i.e.: Interclub Championships, Junior and Spousal programs Flexible and low-cost long term financing options Discounted rates on all Pacific Link owned accommodation (Southern Highlands and Pete Dye presently) Preferred rates at Affiliated Hotels and Resorts No assessment fees Member Committees to be instituted for 2014 Flexible Membership transferability, succession, relocation and upgrade options Member Concierge Services tee time reservations, accommodations, flights, ground transportation, and tour packages

26 Membership Categories Full Golf Home club protected tee times Participation in Member Events Unlimited use of driving range and practice facilities Locker and Club Storage Young Executive Membership Applicable to Under 40 year old Extended financing for membership fee to 120 months Reduced monthly dues and food and beverage minimums Under 30 = 60% = 70 % = 80 % National Membership Primary Residence must be minimum 75 miles from the club joined Access to protected home Club tee times Participation in Member Events Unlimited Use of Driving Range and Practice Facilities Locker and Club Storage Sport Social Membership Access to clubhouse, fitness and dining facilities May play up to 6 rounds of golf per year upon payment of Member Guest Fee Driving range and practice facility use in conjunction with a booked round of golf

27 Membership Fees (Entrance Fees) at Dove Canyon Golf Club Membership Year = January 1 - December 31 (Change from March 1 - February 28) Monthly Dues Frozen at current rate until January 2015 Dove Canyon Membership Fees Effective July 16, st Level 2nd Level 3rd Level 4th Level Full Golf 13,500 10,500 9,500 8,500 Young Executive 13,500 10,500 9,500 8,500 National 6,500 5,500 4,500 4,000 Sport Social 2,500 n/a n/a n/a Financing 15 % down months interest free depending on age 40 + = 72 months 0%; Under 40 = 10% down and 120 Months 0%

28 Dove Canyon Monthly Dues Monthly Dues - Frozen to January 01, 2015 Age Under 30 (80%) (70%) (60%) Monthly Dues Golf $705 $564 $494 $423 National $475 $380 $333 $285 Sport Social $75 n/a n/a n/a Dining Under review (no change in 2013)

29 Food & Beverage Minimum - Semi Annual Effective January 1, st Half: January 1- June 30-2nd Half: July 1- December 31 Per Period Minimum Requirement Age 40+ Under Full Golf $475 $285 $333 $380 National $238 $143 $167 $191 Sport Social $475 n/a n/a n/a Minimum Period Transition A pro-ration transition will commence January 1, 2014 Food and Beverage spending at any Pacific Links Club counts towards the Minimum if applied to your Members Account.

30 How does this apply to your Membership

31 Full Golf Members All Full Golf Members will maintain Full Golf status and be extended all the benefits of Pacific Links International reciprocal privileges without further Membership entrance fees Monthly Dues are Frozen until January 01, 2015 Existing Members with a Cart Program will continue indefinitely. Reciprocal Play to PLI owned clubs - Subject to cart fee only Affiliate Club Access - Cart fee only Reciprocal Club Access - Significant discount on Member Guest Fee Dove Canyon Membership Fee are increasing to $13,500 effective July 16, You can apply this increased value to transfer between PLI courses Membership is transferrable to immediate family subject to transfer fee Family Members can take advantage of preferred membership fee pricing and Extended Family Member Guest fees Ask your Membership Director about the benefits of holding your membership Corporately and the advantages of tiered membership fees for additional nominees.

32 Junior Executive Members Offer to July 15, 2013 Option 1 - Continue until expires on anniversary date (No PLI Access) Option 2 - Upgrade to Full Young Executive Membership Receive 2X Credit of the membership fees paid to date against $8,000 Upgrade Fee = 0 deposit and interest free financing over extended time. JR Executive Upgrade Example: Membership Fee: $8,000 - $3,000 ($1,500 x 2) = $5,000/120 months = $42/month - New $504/yr vs Current $1,500/yr Dues and Food & Beverage Minimums for Under 35 will be honored at PLI Under 30 rates. New Fees: $423/month and F and B Minimum $456 annually + Carts $88/month New Yearly Total: Membership Fee, Dues, Carts, F and B = $7,097 vs Current Yearly Total ($7,050) Receive Full PLI Golf Member Privileges

33 Limited Members - Offer to July 15, 2013 Option 1 Grandfather current privileges unchanged. (No PLI Access) Option 2 Transfer to Sport Social Membership Category Membership Includes Significant Other and children under 25 No Additional Membership Fee Monthly Dues and privileges adjusted to Sport Social Category; $75 Current Yearly Dues: $3,240 vs New Dues $900 (24 rounds per year vs 6 rounds per year upon payment of a guest fee) Option 3 Upgrade to Full Golf Membership (Receive Full PLI Privileges) Membership includes Significant Other and children under 25 Guarantee membership fee pricing of $8,000 protecting against pricing increase Receive 2X Credit of the membership fees paid to date against $8,000 Upgrade Fee - 0 down and balance over 120 months interest free Example: $8,000 - $5,000 (2,500 x 2) = $3,000/120 = $25/month Elect Full Active status subject to Full Golf dues and food and beverage minimums. $705 monthly Elect Sport Social status subject to sport social dues and food and beverage minimums. $75 monthly

34 Senior Executive Members Pacific Links is currently working on a company wide analysis on the impact and development of a Senior Executive Membership category for all existing clubs. The program being considered would be a discount on Monthly Dues based on Age and Years of membership. This program will be communicated before the start of 2014.

35 Member Committee All PLI Member Clubs establish a Member Committee to organize and run all Member Events including Member/Guest, Member/Member, Club Championships, Inter-Club Team qualifying, Season Long Matches, Mixed nine & dines, etc. The Director of Operations at each Club directs the Committee and voting process, slated to take place September through November Interested Members are encouraged to participate in the process. At a member meeting later this year, members will vote for a Men s/ladies Chair and Vice-Chair. The Member Committee typically has active participants. Chairs hold the position for a maximum of a two year term. The Members Committee in conjunction with the leadership of the Director of Operations, will roll out the 2014 Member Fixture List of Events by January 15, The Committee is also responsible to manage a Captain s Fund. This fund is given to the Committee by PLI to assist with the successful creation and execution of Member events, award trophies, hole-in-one awards and insurance for hole-in-ones on the bases of $80. per Full Golf Member and $50. per National and Young Executive Members Russell will work together with the Advisor Board on the implementation of the Membership Committee. Get involved in building the Member Event characteristics of our Club by volunteering for the Committee. Simply contact the Golf Shop on or before September 15, 2014.

36 Refer-a-Friend Program New Members - Now to July 15, 2013 Full Golf - $8,000 ($13,500 July 16) National - $4,000 ($6,500 July 16) Any existing member introducing a perspective member (that joins) will receive an account credit on the following basis: Member Referral Program - Now to July 15, 2013 Full Golf Member $1,500 Credit ($100/month) Young Executive Member $ 750 Credit ($50/month) National Member Credit $1,125 Credit (75/month) Credit applied to Members account monthly for 15 months starting October, Credit is subject to both Members being active. Financing: 10% deposit due upon joining. Balance over 120 months interest free = $60. monthly, non binding

37 We Welcome Your Questions