RedGate Consultants’ Analysis: Profitable By 2015
Jan 5, 2011 11:59 - 0 Comments
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In a report by the National Golf Foundation that was kicked off at a Mayor and Council meeting last September, the nonprofit golf consultants say they believe the City’s golf course can be made profitable by 2015 if its management is outsourced.
The report, set to be submitted to the Mayor and Council at their next meeting on January 10, says:
[T]he NGF Consulting cash flow model for the RedGate Municipal Golf Course, assuming a private management company and basic primary facility upgrades, shows the improved golf facility generating significantly improved revenue performance and expense reductions that should help the City replenish the RedGate GC Enterprise Fund over the longer term (2015). However, even with an improved financial scenario, RedGate Municipal Golf Course may still have to operate with Fund deficits for at least the next two or three fiscal years.
The outsourcing suggestion would have a private company manage the course, but they would retain existing staff.
There is little doubt that the upcoming Mayor and Council meeting will feature in-depth discussions on this question, so stay tuned!
See the full report here.
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