Glenwild Focus Group Recap

Focus Group Report Glenwild Golf Club & Spa June 2020

Table of Contents

Table of Contents ................................................................................................................................ 2 Background & Purpose ....................................................................................................................... 3 Focus Group Method & Process ...................................................................................................... 4 Focus Group Participation ................................................................................................................. 5 Findings and Observations ................................................................................................................ 7 Capital Projects...................................................................................................................................12 Next Steps in the Process ................................................................................................................13

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June 2020

Glenwild Golf Club – Focus Group Recap

Background & Purpose

Glenwild Golf Club & Spa (“Glenwild” or “the Club”) is a world ‐ class private club located in Park City, Utah, offering an array of amenities for its members to enjoy year ‐ round. Highlights of the Club include a magnificent, 39,000 square ‐ foot clubhouse and an 18 ‐ hole Tom Fazio ‐ designed championship length golf course which Golf Digest consistently ranks as the top course in the state. Additional amenities and member benefits include a driving range and practice putting green, spa facilities with five massage rooms, treatment rooms, a manicure and pedicure room, steam rooms and whirlpools, two tennis courts, a swimming pool, and a snack bar. The rapid expansion of private clubs in the Park City area has exposed the need for focused decision ‐ making by the Club’s leaders regarding such matters as (a) the going ‐ forward vision for Glenwild; (b) the priorities and funding for facilities development and replacement; (c) sources and uses of capital funds; and (d) the progressive improvement of the Club’s facilities and services. To address these evolutionary changes, the Glenwild Board of Directors has engaged GGA Partners (“GGA”), a leading industry consulting firm to help develop a going ‐ forward strategic plan. One key step is developing a definitive understanding of the wants, needs, and expectations of the current Glenwild members.

Having completed a detailed market analysis in March of 2020, GGA has continued the Glenwild research process with a qualitative analysis of members’ viewpoints and priorities through the use of focus groups with Club members. The qualitative analysis will lead to the development of an attitudinal survey of Glenwild members which serves as the quantitative analysis of the key matters of focus and emphasis for the Club. The purpose of the process being implemented is to provide the Club’s leaders with a clear and current understanding of the Club’s needs and the proportion of support behind key strategic options and solutions for Glenwild. More than a satisfaction survey, the Glenwild member survey is directed to the most important values and expectations shared by the Club’s members.

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June 2020

Glenwild Golf Club – Focus Group Recap

Focus Group Method & Process

On May 26 th , 27 th , 28 th , and 29 th , and June 9 th and 11 th , 2020, GGA executed a series of 14 separate member focus groups for Glenwild via the video conferencing platform, Zoom. The purpose of the focus group sessions was to develop a qualitative understanding of member attitudes to guide the Club’s Board of Directors (“the Board”) and Strategic Planning Committee (“SPC”) in its development of a comprehensive strategic planning survey which will be distributed to all Glenwild members. A total of 74 Glenwild members participated in the 14 focus groups consisting of approximately three to seven members. All groups were facilitated by Derek Johnston, a GGA Partner and Andrew Johnson, a GGA Associate. The methods used at Glenwild focus groups required 75 to 90 minutes per session, with roughly three to seven participants per session. Participants were selected at random based on key demographic characteristics and space availability. Participating members comprised a diverse cross ‐ section of membership categories, location of primary residence, and tenure to ensure that a balanced, healthy mix of viewpoints were present within the focus group population and each individual sample. Each focus group followed a similar method and series of questions as guided by the GGA facilitator:  Connection to and Current Usage of the Club – How did you first become connected to Glenwild and how do you use Glenwild currently?  Expectations and Aspirations – What do you expect of the Club and what do you hope Glenwild will be/look like in the coming years?  Strategic Priorities – What are the most important strategic priorities for Glenwild from your perspective?  Push/Pull Factors – What characteristics of the Club drew you and your family to Glenwild? And, what aspects of the Club could present potential barriers? Responses within the focus groups were collected orally and noted by the facilitator for use in preparing this report. To respect and protect the confidentiality of the member participants no record was made of individual comments or viewpoints. Specific terms used and examples have been minimized in the interest of confidentiality of the focus group participants.

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June 2020

Glenwild Golf Club – Focus Group Recap

Focus Group Participation

By the Numbers – A Summary of Participant Characteristics

PARTICIPATNTS

74% 26%

Male

Female

43%

31%

32%

19% 20%

15%

11%

9%

9%

3% 4% 3% 1%

1%

0%

Age Category

Rounds Played

59 Avg.

14 Avg.

20%

23%

Primary Members Secondary Members

Golf Members Social Members

77%

80%

Non-Glenwild Residents

Out of State Utah

44%

48%

52%

56%

Glenwild Homeowners

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June 2020

Glenwild Golf Club – Focus Group Recap

Focus Group Participation

Participants Were a Strong Representation of All Members

Focus Groups Membership

43%

35%

32%

29%

16%

15%

15%

9%

3%

2%

1%

0%

30's

40's

50's

60's

70's

80+

Age Category

20% 15%

35%

44%

56%

65%

80% 85%

Golf Members Social Members

Non-Glenwild Residents Glenwild Homeowners

41%

48 %

52%

59%

Out of State Utah

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June 2020

Glenwild Golf Club – Focus Group Recap

Findings and Observations

Happiness & Pride Members are very happy and proud of their club and they enjoy spending time at Glenwild. Overall, members commonly indicated their satisfaction with the overall Club experience and had plenty of positive things to say about the Club and their membership. Members were proud of the golf course and its best ‐ in ‐ state ranking, as well as the Club’s service levels and overall atmosphere. In general, comments were more positive compared to other focus groups GGA has conducted at other fine clubs around the country. Golf is Core with Dining Second Members commonly indicated that they joined Glenwild because of the golf course and that the course should remain the number one priority in future decision ‐ making at the Club, along with exceptional dining opportunities. When members were asked to indicate any capital projects they would be interested in pursuing, it was commonly mentioned that the Club should ensure that the golf experience is the primary focus. Many members agreed that maintaining the course’s #1 state ranking is important, especially as a marketing tool to attracting future members. They were interested in cementing the Club’s competitive advantage by improving the golf experience further, through improvements to the practice facilities and the golf simulators. After the golf experience, many members indicated that they use the dining facilities frequently and it is important that the calibre of these offerings complements the calibre of the golf course.

High Praise for Management Members unanimously support George Parker, General Manager, and his management team and noted significant improvements during his tenure. Members had very positive things to say about the staff in general, noting that they have been consistently satisfied with the service level offered at the Club and that the Golf Operations are exceptional. It was also mentioned that the management team have been very effective at navigating the Club through the ongoing Covid ‐ 19 pandemic.

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June 2020

Glenwild Golf Club – Focus Group Recap

Findings & Observations

Quality & Exclusivity The Club’s small membership is highly valued, and a number of members indicated that an initial attraction to the Club was the intimate membership experience compared to other local options. The Club has the fewest number of members per 18 holes among all of the local private clubs in the Park City area, and this was a deciding factor for many members. Members suggest maintaining this exclusivity by enforcing guest policies and balancing the number of non member ‐ only events. It was frequently mentioned that some social events have become very crowded, with some members bringing 10+ guests to events such as the 4 th of July celebration. Some members also commented on the large number of non ‐ members who have been seen at the pool in the summer. Caution in Spending and Financial Prudence Members urged caution and prudence with capital spending in today’s economic climate, aligned with priorities. Though some members were aware of the positive financial position of the Club compared to the competition, members understood that this should not be a reason to spend money unnecessarily. Members seemed especially keen on updating and improving current Club offerings as opposed to engaging in significant capital improvements to ensure that the Club remains financially prudent and has enough of a rainy ‐ day fund to use if necessary. Integrity of Course Design Members agree that the Club should avoid changes to the course layout and design without review by Fazio. Members indicated that the course was designed effectively and those who are unfamiliar with course design should not be making design ‐ related decisions. Some members who belong to other clubs have seen this happen and have had to pay to revert the course to its original grandeur.

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June 2020

Glenwild Golf Club – Focus Group Recap

Findings & Observations

Preserve Charm with ‘TLC’ Members agree that the Club is starting to appear tired and could use some upgrades and repairs, but are largely looking to preserve the cozy and intimate feel of the Club. Members would like to preserve the current character of the Club and would like the feel of the Club to remain consistent with how it was when they decided to join.

Winter Ski Connection Members believe a mountain connection for members in the winter should be evaluated and considered; however, few have a clear vision for the Club to pursue. Several members who currently ski in Park City noted that parking has become an increasing problem, and Glenwild having an area where members can park and leave their belongings would be an attractive prospect. Due to the nature of the Club’s membership, not all live in Park City full ‐ time throughout the winter, and members wanted to ensure that all members’ interests are considered before making decisions. A mountain connection at Deer Valley and Park City both received similar levels of interest. This is a topic that will be explored further in the upcoming member survey. Membership Categories and Regeneration Members expressed a desire to attract younger members and believe junior/intermediate and heritage memberships should be considered to improve the value proposition for families. Due to the Club’s limited amenity profile compared to the local competition, prospective intermediate members need an incentive to consider the Club that extends beyond the golf experience. As millennials are more sensitive to higher initiation fees, having a structured fee approach in the form of an intermediate membership would allow the Club to stand out in the Park City area. Aside from additional categories, there was a common concern about the Club’s ability to attract younger members based on the Club’s current offerings. Members indicated that prospective members would likely only consider Glenwild if golf is their number one priority, which would not always be the case if a golfing member wanted to bring their spouse and children to enjoy the Club as well.

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June 2020

Glenwild Golf Club – Focus Group Recap

Findings & Observations

Enhanced Services and Hospitality Members indicated a need for additional service offerings, possibly a concierge service to connect members with activities in the local area and expressed a desire for reinstituting gratis snacks and refreshments. In general, members would like the overall Club experience to feel “first class”; although it was agreed that the golf course was meeting these expectations, small service additions can be made to other areas of the Club to ensure that the Club experience outside of golf is equally as special. Socialization Opportunities Members want a more vibrant social atmosphere at the Club and additional opportunities for socialization and connection with other members. This was especially prevalent among members who use the Club in the winter, noting that the Club is “quiet” during these months. Members who are less tenured indicated that everyone has been pleasant to them, but it has been very difficult to socialize with and meet other members due to the nature of the current membership. It was noted that the current social events held at the Club do become busy with non ‐ members which increases this difficulty. Several members suggested other clubs within the Club for members that share similar interests.

Amenities and Activities Beyond Golf Although members acknowledge that Glenwild is a golf club first, many of the members would enjoy expansion and/or enhancement of other facilities, activities and programming. It was noted that these activities would bring members to the Club more often and could increase revenue in other areas, such as food and beverage. Members would like to see more clinics or training offered at the Club, such as tennis clinics, biking lessons, and other learning opportunities that leverage the existing the Club’s current offerings beyond golf. There was also support to expand/improve existing non ‐ golf amenities, such as the fitness center (to increase the size) and the pool (to incorporate adult ‐ only options).

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June 2020

Glenwild Golf Club – Focus Group Recap

Findings & Observations

Family Atmosphere Family ‐ oriented programming, events, and dedicated spaces are important for many members. It is a general belief that a more family ‐ friendly atmosphere could be beneficial in attracting younger members who are interested in an experience that appeals to the entire family. Many members indicated that other clubs in the Park City area are far more family ‐ friendly due to their offerings and atmosphere. Some members noted that they would certainly recommend the Club to prospective members who value golf, but would likely recommend another club if the prospective member has a family. Members indicated that some current activities at Glenwild are certainly appealing to younger children, but not as appealing to teenagers. HOA Relationship Members indicated that they don’t fully understand the Club’s relationship with HOA and that it should be strengthened. The Club and HOA are in a unique position within Park City as the two are completely separate entities that operate separately. It was mentioned that the two entities sometimes have conflicting viewpoints or priorities that could be detrimental to the other entity. The two entities working together could be mutually beneficial, such as shared usage of land or working together to attract new residents and members. Year-Round Access Many members want a more vibrant Club year ‐ round. Additional winter activities, events and dining hours are important to many members, regardless of whether they are full ‐ time residents or not. Although mountain access was mentioned as a separate topic, members wanted the Club to be engaging with members even when golf isn’t an option. This includes expanded winter activities that can be arranged through the Club, and reinstating the original hours that used to be present during the winter months that have since been reduced. This is especially mentioned due to the relatively short golfing season in Park City. Members were extremely satisfied with the trial golf simulator that was implemented last winter and would enjoy seeing a proper simulator lounge added, with more than one bay if possible. Interestingly, a number of part ‐ time residents expressed interest in using the Club more in the winter time, indicating that the area is certainly a popular place to visit outside of the golfing season for Glenwild members. Transparency Members indicated that the Board could be more transparent and in particular with respect to financial situation of the Club. Although some members were familiar with the financial position of the Club, many were unaware of the positive financial position and were wondering why they did not know this and how they can learn more in the future.

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June 2020

Glenwild Golf Club – Focus Group Recap

Capital Projects

Members were asked to indicate any capital projects/enhancements where they believe the Club should consider investing money. Several improvements to existing amenities and new project ideas were mentioned across all focus groups. The most commonly mentioned ideas have been outlined below, in order of frequency.

Golf Experience

1. Course Enhancements and Beautification

2. Practice Facility Enhancements

3. Year-round Simulator Lounge

4. New Short Course

Clubhouse and Ancillary Amenities

1. Mountain Access in Winter

2. Gym/fitness Expansion and/or Enhancement

3. Pool Expansion and/or Enhancement

4. Casual Outdoor Dining and Firepits

5. Tennis, Paddle Tennis and Pickleball

6. Kid/Teen-Friendly Areas

7. Ladies Locker Room and improved showers

8. Bocce Ball, Lawn Bowling and Croquette

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June 2020

Glenwild Golf Club – Focus Group Recap

Next Steps in the Process

The topical guidance provided by the focus group participants was used to create the findings and observations that are described within this report. The objective of GGA is to use the crosssectional method of qualitative analysis to develop a subsequent quantitative analysis using the attitudinal survey of all members of Glenwild. The key takeaways herein will be used to aid in the content development of the survey which will be distributed to the Club’s members online in July. The survey invitation will be sent by GGA Partners to each Glenwild member whose email address is available through the Club. The survey responses will be confidential – Club leadership or management will have no ability to see the identity of any survey respondent. Any members wishing to complete a paper version of the survey will be able to obtain a hardcopy from the Club’s administrative office. A directed envelope will be provided so that each hardcopy reply will be delivered to the Phoenix office of GGA Partners and member responses will remain anonymous from Club leadership. GGA will prepare a comprehensive report of findings from the survey to help guide the strategic planning efforts of the Club.

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June 2020

Glenwild Golf Club – Focus Group Recap

Restrictions This report is not intended for general circulation or publication and is strictly intended for Glenwild Golf Club & Spa. It is not to be reproduced or used for any other purpose other than outlined above without our prior written permission in each specific instance. GGA assumes no responsibility or liability for losses occasioned to the directors or shareholders, or to any other parties as a result of the circulation, publication, reproduction or use of this letter contrary to the provisions of this paragraph. GGA reserves the right (but will be under no obligation) to review all calculations included or referred to in this report and, if we consider it necessary, to revise our conclusions in light of any information existing at the report date which become known to GGA after the date of this report.

GGA Partners Inc.

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June 2020

Glenwild Golf Club – Focus Group Recap