During this time of Thanksgiving, the Executive Board would like to take a moment and express gratitude for Woodholme's wonderful members, fantastic staff, and great facilities. We are also grateful that members before us had the foresight to purchase additional land -- the sale of which now continues to progress according to plan. We also hope the membership will be pleased with the following news.
After many years of coexistence, the leadership of both Woodholme and Suburban have had preliminary discussions to explore the possibility of a Woodholme/Suburban merger. As you are aware, it is becoming more challenging to increase the number of members of each club. Because of that difficulty, it has become obvious that we must explore all possible ways of ensuring Woodholme's future success.
One of those ways is to consider a merger between Woodholme and Suburban. This has led to several discussions with the leadership of Suburban. We believe these conversations have been very productive, in-depth, and encouraging. While we are still in a very preliminary stage, we wanted to be transparent and let our members know that these conversations have taken place. As the discussions become more involved, we will continue to keep our membership informed of the results of those discussions.
While the current discussions are serious and progressing between both clubs, a merger is not a necessity for the clubs. With the proceeds from our land sale and the stewardship of our management team, Woodholme is a viable entity on its own for many years to come. This merger is about creating something special and long lasting in our community for decades to come.
We believe that a merger would be a positive step for members of both Woodholme and Suburban. A combined club creates a strong and vibrant organization with a bright future. Until our membership tells us otherwise, we believe it is in Woodholme's best interest to continue the ongoing discussions. Please be assured that the final decision requires proper approval by the full membership of Woodholme. Each club and its members will have to make compromises and possibly break traditions for a merger to succeed; however, it is our intention that the compromises that our members will make to carry out a merger, and those that Suburban members will make, will be in the best interests of a long-term, viable club. Listed below are some points regarding a potential merger that the Executive Board wants all members of both clubs to understand.
Points A merger would need to be approved by 60% of all voting members of each club's membership. This means that 60% of Woodholme's members would have to agree to a merger, as well as 60% of Suburban's.
The merger must make fiscal sense for both clubs. Taking two clubs and creating one stronger club with larger membership, increased services, reduced costs, and a better overall experience is paramount.
The Board of the merged club will be represented by both Woodholme and Suburban members.
All financial benefits from economies of scale, real estate monetization, and other means will remain for and benefit the merged club. The financial strength of a merged club will ensure its long-term viability and vibrancy. This plan is not about either membership having a financial advantage; it is about creating one strong and amazing club.
At this time, the plan is for both facilities to remain open for a period of time. The combined leadership will determine the best fiscal and operational structure of all facilities and services, and if any should be curtailed.
Our Executive Board has made our position clear that certain facilities and the golf course at Woodholme must remain in existence. Certain facilities at Suburban are very valuable to remain open as well.
Some items to ponder while considering a possible merger: - Would I benefit from a lower, stabilized dues structure and a more financially sound club?
- Would club functions be more fun and of a higher caliber with double the membership and higher attendance?
- Would it be fun to have two golf courses to play and two dining rooms at which to eat?
- Would our golf, tennis, swim, paddle ball, and pickle ball tournaments be more fun with increased participation?
- Would I be able to co-exist with the members of Suburban? We hope your answer is yes, but you can continue to socialize with your current friends. Personal biases should not obstruct all of the good which would come from a merger.
We look forward to discussing this concept in much more detail in the near future.
Sincerely,
The Executive Board
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