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.