By Agrippina Fadel
City investments into the Colony West Golf Club are paying off. Total golf operations revenues for 2021 have exceeded the budget by $518K.
Director of Parks and Recreation Greg Warner gave the city commission members an update of the club’s finances at the workshop on December 5.
He said that while the new clubhouse only opened in May 2021, the club did well with both golf and food and beverage revenues. Over 64 thousand rounds of golf were played, and total revenues for greens fees, golf cart, and member card sales reached just over $2 million, $518K over budget, and $441K more than the club made in 2020.
Colony West hosted 15 golf leagues in 2021, while only one was hosted in 2020.
Warner said total food and beverage revenue for 2021 is $438K and includes the View restaurant, banquet facility inside the clubhouse, and golf course cart.
“It did not meet the budget based upon a November 2020 opening of the clubhouse because that number was planned with more months of operation in mind. However, the last time Colony West had a clubhouse in 2018, in the same four months from June to September, the revenue was $157K; in 2021, it reached $249K,” he explained.
Warner added that catering services available at Colony West are proving to be in high demand – the club only has one free Saturday through the end of February.
“We had some challenges in the past two years, between the COVID-19 pandemic and not having a clubhouse, but the future of the club looks bright. With international traveling opening up, strong golf operations, and banquet rentals, projected net revenues in 2022 should exceed this year by $96K,” he said.
Overall, in 2021 Colony West had $2,562,342 in gross income with a net income of $279K, which is $331K over budget and $139K more than 2020 net income.
Colony West Golf Club, located at 6850 NW 88th Ave, underwent major renovations after the city purchased it in a short sale for $3 million in 2011. The city invested $11 million in the new clubhouse and renovated the greens. Last year was the first time Colony West received a positive net income.
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- Agrippina Fadel grew up in Siberia and received her master's in journalism from Tyumen State University. Agrippina is also a writer and editor at Draftsy.net. She has been a US resident for over ten years and speaks English and Russian.
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