Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/.
If we do not hit our goal we will be forced to close the site.

Current status: https://keepboardsalive.com/

Annual subs are best for most impact. If you are still undecided on going Ad Free - you can also donate using the Paypal Donate option. All contribution helps. Thank you.
https://www.boards.ie/group/1878-subscribers-forum

Private Group for paid up members of Boards.ie. Join the club.

Fota Hello Money ?

  • 13-12-2011 02:36PM
    #1
    Closed Accounts Posts: 187 ✭✭


    Anyone hear the rumours Fota hello money is going or gone?


«13

Comments

  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    Last I heard it was €15,000 spread over 10 years or something like that


  • Registered Users, Registered Users 2 Posts: 1,214 ✭✭✭bailey99


    It was up until 2 months ago when I contacted them, €5000 up front and an annual sub of €2089 which included all your competition entry fees. Then after 5 years you paid another €5000 lump sum and 5 years again after that, the final €5000 lump sum.

    I've heard from a couple of people that there was to be a meeting with the members, with a proposal to abolish the hello money and to reduce the annual subcription to around the €1700 mark. All new members however, would be introduced or proposed by existing members, this would prevent or at least limit the objections by the current members.

    This could be true as the course is up for sale for just €25million (all considered this is a very low price in my opinion). Any new owners could identify the golf course as a majoy source of revenue, with 27holes they could comfortably take membership upto 1,500 or even 2,000. Membership levels at 2000 at a rate of €1700 per annum would give them income of €3.4million.

    I know the green fees would fall with the need for more members time but this is the avenue the new owners are going to look to go down I believe.


  • Registered Users, Registered Users 2 Posts: 2,036 ✭✭✭Loire


    bailey99 wrote: »
    It was up until 2 months ago when I contacted them, €5000 up front and an annual sub of €2089 which included all your competition entry fees. Then after 5 years you paid another €5000 lump sum and 5 years again after that, the final €5000 lump sum.

    I've heard from a couple of people that there was to be a meeting with the members, with a proposal to abolish the hello money and to reduce the annual subcription to around the €1700 mark. All new members however, would be introduced or proposed by existing members, this would prevent or at least limit the objections by the current members.

    This could be true as the course is up for sale for just €25million (all considered this is a very low price in my opinion). Any new owners could identify the golf course as a majoy source of revenue, with 27holes they could comfortably take membership upto 1,500 or even 2,000. Membership levels at 2000 at a rate of €1700 per annum would give them income of €3.4million.

    I know the green fees would fall with the need for more members time but this is the avenue the new owners are going to look to go down I believe.

    I think you could be onto something there. A friend plays there and they've been wiped out the past few winters with poor weather. Green fees can be fickle and perhaps a "guaranteed" membership income would be preferrable. Having said that, I'm not sure will they get enough to bite at 1,700pa...


  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    It's still a lot of money at €1,700 but a huge drop on what it was. Including all competition fees in the sub is something I like the sound of.
    Hard to judge but I presume there would be a good level of interest


  • Registered Users, Registered Users 2 Posts: 1,550 ✭✭✭curly from cork


    As of today they are still quoting €15, 000 joining fee, € 2,085 annual sub.


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    Approx how many members have they in the club?


  • Registered Users, Registered Users 2 Posts: 3,313 ✭✭✭Dr_Colossus


    big_drive wrote: »
    Approx how many members have they in the club?

    According to this site
    http://gogolfing.ie/
    they've 505 members so a decent enough playing base. Given that the development is in Nama and up for sale I find it hard to believe that they're still demanding such high joining fees.


  • Registered Users, Registered Users 2 Posts: 249 ✭✭pinseeker


    Know someone who is currently at the a.g.m so should know in a bit what exactly they have have decided to do regards hello money and sub


  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    That would be great to get the actual facts on what's happening


  • Registered Users, Registered Users 2 Posts: 318 ✭✭Unglika Norse


    According to this site
    http://gogolfing.ie/
    they've 505 members

    They had 440 registered male members for 2011 down 55 from 2010, the rest could be made up of a small ladies club


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 249 ✭✭pinseeker


    Right it seems that all the proposals were knocked on the head.Members have there sub reduced by few hundred euros.

    There was proposal for 100 new members for 1000 a man but they said that it would effect tee times on weekends.So non runner.

    Seems as if no change at all,so guess its still the 15 grand hello and sub is little bit less.
    Arse dream over.


  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    Looks like no change so. Pity cause I would consider it if there was a new deal to be had


  • Closed Accounts Posts: 187 ✭✭peepee


    Can a privately owned club not change membership prices and numbers without the members approval? I would have thought it would be forced through. Any new owners wont be leaving numbers at 500 on a 27 hole course


  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    Ya with the 27 holes there would be room to bulk up the membership you'd imagine. Might take a while more yet, until new owners come on board.


  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    Any more news here or was the final decision that things continue as normal?


  • Registered Users, Registered Users 2 Posts: 1,214 ✭✭✭bailey99


    Prior to the meeting it was €5,000 hello money, another €5,000 in 5 years time and a final €5,000 a further five years after this, so total hello money was €15,000. The annual subscription was €2,089 each year.

    Following a decision at the meeting, the hello money has been reduced to a one off payment of €5,000. The annual subscription has also been reduced to €1,889 which includes €100 competition entry fees.


  • Closed Accounts Posts: 5,677 ✭✭✭staker


    I'd imagine all extra payments of 5000 euros of the initial 15000 euro "hello money" for existing members will be dropped?
    Know of a fellow who joined another Cork club in 2010 which had hello money of 1500,which could be paid in three annual installments of 500.

    Start of 2011,they abolish the 1500 hello money for new members,so he approaches them to see were his further installments nulled. Long story short, no was their answer-he walked, along with half a dozen other members.


  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    It's a tempting enough offer if I had the cash. I'd still find the €1,889 a fair chunk to pay each year though.


  • Registered Users, Registered Users 2 Posts: 496 ✭✭Jasonw


    Funny, I was talking to a guy who was at the meeting and he didn't mention that at all. He said that the hello money hadn't changed, that the members annual sub had been reduced as has already been mentioned and that there was a new catagory of membership where you can join for a year at about 2800 euro I think.


  • Registered Users, Registered Users 2 Posts: 1,214 ✭✭✭bailey99


    Jasonw wrote: »
    Funny, I was talking to a guy who was at the meeting and he didn't mention that at all. He said that the hello money hadn't changed, that the members annual sub had been reduced as has already been mentioned and that there was a new catagory of membership where you can join for a year at about 2800 euro I think.

    tell your mate not to fall asleep at these types of meetings so! Give the pro-shop a buzz and ask them like I did if your in any doubt.


  • Advertisement
  • Moderators, Business & Finance Moderators Posts: 18,030 Mod ✭✭✭✭Henry Ford III


    Nice course but even after the reductions it's still far from a bargain.


  • Closed Accounts Posts: 187 ✭✭peepee


    Have to agree. I think they have their head in the clouds really. Its a 27 hole complex looking for 5k up front. Thats not realistic in the current climate. Carton House has 2 separate top class courses, all for €2300 sub only.

    I'm not sure what powers the members have but if a new buyer wants to to he''ll find a way to increase numbers without their approval.


  • Registered Users, Registered Users 2 Posts: 1,214 ✭✭✭bailey99


    peepee wrote: »
    I'm not sure what powers the members have but if a new buyer wants to to he''ll find a way to increase numbers without their approval.


    Members have no rights whatsoever as they don't own the course. Same as members in Lee Valley, i.e. the owners can close up whenever they want if they so wished.

    Fota will be sold, I would be amazed if it wasn't. The place is turning a healthy profit from the golf course, so once someone in the hotel trade comes in to buy it, open up membership to get an extra €1 - €1.5 million in the place could well florish.

    The asking price is just €20million for a 5 star hotel, clubhouse, grounds, 59 houses and 550acres of land situated less than 15mins drive from Cork City. That's working out at just over €36,000 an acre.


  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    As I mentioned before I will be watching the situation closely as I'm only 15 mins away.

    At moment it's just too much for me financially, the entrance would need to be less than €3,000 and the annual sub around the €1,300 mark. Then I'd be seriously thinking about it


  • Registered Users, Registered Users 2 Posts: 10 Fota Island Golf Club


    Hi, I would like to introduce myself, my name is Robert and I am working with the Marketing Department here at Fota Island Resort. It has come to our attention that there has been much speculation in this discussion thread regarding the subscription and ‘hello money’ for Fota Island Golf Club. If anyone would like further information regarding these issues we would be more than happy to provide them by contacting me at rduggan@fotaisland.ie or you can also contact the Pro Shop directly on +353 (0)21 4883700. We will provide you with any relevant information you require regarding membership.

    Kind regards,

    Robert.


  • Registered Users, Registered Users 2 Posts: 913 ✭✭✭Redzah


    Hi, I would like to introduce myself, my name is Robert and I am working with the Marketing Department here at Fota Island Resort. It has come to our attention that there has been much speculation in this discussion thread regarding the subscription and ‘hello money’ for Fota Island Golf Club. If anyone would like further information regarding these issues we would be more than happy to provide them by contacting me at rduggan@fotaisland.ie or you can also contact the Pro Shop directly on +353 (0)21 4883700. We will provide you with any relevant information you require regarding membership.

    Kind regards,

    Robert.

    Ah come on robert, share the information and price, we can find the number of Fota on the golden pages. We're all friends here


  • Closed Accounts Posts: 5,677 ✭✭✭staker


    Agreed, why not post up the fees?Register to post up information that's already freely available. Can't see how it would effect business tbh, can only be good imo.


  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    I have emailed but not heard back yet. If anyone has received a reply could they PM me the info please? Thanks


  • Registered Users, Registered Users 2 Posts: 1,214 ✭✭✭bailey99


    Ok, I was talking to a friend in work and he told me that a fella he regularly plays golf with applied to join Fota following the reduction in entrance money at the last AGM.

    To his knowledge, there were 14 applications in total to join, all willing to pay the €5,000 entrance money and the annual subscription of €1,889. All 14 applications were accepted by the club but all 14 were subsequently rejected for membership by the committee.

    A previous poster said that if the subscription was €1,300 then he'd be interested. The problem is the lack of quality courses within 30mins of Cork city. When you compare golf courses in Dublin, Kildare, Wicklow and those in Cork, there's no real comparison. Cork has a lack of decent challenging courses. Fota, Cork and possible Castlemartyr are the best in my opinion and the rest all blend into the same category.

    If Fota got rid of the entrance money, then I would certainly apply to join.


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 3,525 ✭✭✭big_drive


    Thanks for the info. Why would the applications be rejected?


Advertisement