Private Clubs by their very nature typically do not generate
large profits. Many are owned by not for profit corporations or LLCs. These
properties usually have a variety of physical components that support the needs
of the members of the club. These components usually include at a minimum some
type of food service, a cocktail lounge or bar, and one or more recreational
facilities. In the case of a large Country Club, it is not unusual to find many
components including multiple food and beverage facilities, golf courses, tennis
courts, swimming pools, etc. Such facilities can be complex operations, having
many different sources of income and expenses. Since Private Clubs are not open
to the public, they tend to cater to a narrow market of clientele. The same can
be said as to when they are bought and sold. Typically there are few buyers for
such facilities. All of these conditions can make for a challenging appraisal
assignment to the untrained and inexperienced appraiser of Private Clubs.
We at ELLIOTT® & Company Appraisers have experience with
Private Clubs. We are aware of the challenges confronting appraisers when
appraising such facilities and have the experience to meet the challenge.
Clients may expect a professional and credible appraisal report when we are trusted
with the assignment.