The Crittenden Golf Conference (formerly the Golf Inc. Conference) is three day event for professionals in the golf industry. This event included 9 hours of educational sessions facilitated by the industry’s leading executives and designed to aid in the growth of your business. We have been a consistent participant in panels and this year the National Golf & Resort Properties Group had both of the founding partners participate, the Director Steve Ekovich was on a panel entitled Restructuring the Cash Strapped Club and Chris Karamitsos was on the panel entitled “Moving the Needle”- Increase Market Share- Improve your Property’s Valuation. On Mr. Ekovich’s panel was an Attorney John Theirl, Partner at Gordon & Rees and Darius Hatami, Managing Director, with HVS Golf Appraisal Services. In the session Restructuring the Cash Strapped Course, we discussed how to handle a course that can’t pay its bills or has debt coming due. Chris Karamtsos’ panel was entitled “Moving the Needle”- Increase Market Share- Improve your Property’s Valuation.
If you are searching for a solution to your problem whether it be for golf course brokers to sell your course, refinance it, someone to bring in equity, or discuss other solutions we can help. Below was an outline of the source of distress, how the distress manifests itself and the five options.
Restructuring a Financially Strapped Club
What Is The Source Of The Distress?
If you are searching for a solution to your problem whether it be for golf course brokers to sell your course, refinance it, someone to bring in equity, or discuss other solutions we can help. Below was an outline of the source of distress, how the distress manifests itself and the five options.
Restructuring a Financially Strapped Club
What Is The Source Of The Distress?
- Term On Note Due
- Can’t Make Loan Payments
- Club Revenue Down
- Competition Is Up
- Costs Have ↑ & Revenue Neutral
- Loosing Members
- Weather Event
- Poor Course Management
- Can’t Pay Lenders
- Can’t Pay Vendors
- Poor Maintenance
- Loss of Club Activities
- Not Paying real estate Taxes
- Loosing Good Employees
WhatAre the Options?
Option 1 - Legal – Bankruptcy 7 or 11
- How To
- Advantages & Disadvantages
- Members
- Public
- Owners
- How To
- Advantages & Disadvantages
- Owners
- How To
- Advantages & Disadvantages
- Members
- Public
- Owners
- How To
- Advantages & Disadvantages
- Owners
- How To
- Advantages & Disadvantages
- Members
- Public
- Owners
- Steve asset sale and loan sale
- Darius
