I was fortunate to play the course this weekend. I have to say it is one of better courses I have played in a while. The greens were in perfect shape. They were a little slow but assume they are keeping a little more grass on them due to the heat. Although they were slow they were exteremely smooth. You could actually read the greens as the ball rolled the way it looked.

Most of the holes had some type of water so kept you honest espicially on the par 5's. Being a long ball hitter, it was frustrating that most of the par 5's were unreachable in two as the greens were tucked behind lakes or trees.

WHOOP! I had lunch there on Fathers Day. Heck of a buffet.

My father in law is a member there. It's a great set-up.

I had my wedding reception there...beautiful!!!

A buddy of mine plays there occoassionaly with his partner in his acctg. firm.

He describes the course as average with above average condition, but says it's probably the best overall country club experience in the city.

Anyone care to comment on that?

I'd like to find out for myself, but don't know any members and don't have the $50K+ to buy my own way in.

What is the membership going for these days?

The food at Lakeside definitely is better than at Braeburn if that counts for anything. My friend at her reception at Braeburn this past weekend, and the food was cold w/o any flavor.

$50K just to get in the door? Then I'm sure it's another couple of K per year. Holy crap!

It's more than $50k. I think they have a junior membership to try to bring in more guys under 40, and I think it's in the $30k range. The full membership is over $50k I believe, plus dues are over $1k a month.

The Junior initiation fee is $15000. Once you turn 40, you're required to pay almost $60,000.

An additional $60K or the difference between that and what you already paid? And if Lakeside is that much, I can't even being to imagine what Houston Country Club, the Houstonian or River Oaks go for.

I don't claim to have any inside knowledge on initiation/dues, etc. but the recent edition Avid Golfer Mag has Houston's Best of Private Couses and shows this:

$100K+
- Carlton Woods
- River Oaks
- Shadow Hawk
- Houston CC

$50K-$99K
- Miramont
- Royal Oaks
- Traditions
- Lochinvar
- Lakeside

$25K-$50K
- Houstonian
- Redstone
- The Woodlands

$10K-$25K
- Champions
- Bentwater
- Braeburn
- Westwood
- Bay Oaks

Under $10K
- Whispering Pines
- Kingwood
- Walden Lake Houston
- Northgate
- Pince Forest

There are others that fit into every category - this is just what they were judging the "Best Of".

the houstonian is about $30000. ROCC and HCC were once $50000 but I think they're both around 6 figures now. same with shadow hawk and lochinvar. the problem with these courses is not only the price but the waiting list. just about every one except shadow hawk has maxed out its membership

Monthly dues are $450 for a full member

Well said Harry.

nm

[This message has been edited by nick_t (edited 6/23/2009 10:42a).]

Over the last 10 years Lakeside has really gotten its act together. They built an awsome new swim facility as well as brandnew workout facilities and redid the entire course. My guess is with all of the oil money that has been/hopefully will be pumping into Houston's economy, all of these prices and waitlists are soon to rise.

I know these places sell the membership as some sort of equity stake, but what happens if you want to get out? Can you sell your membership back to the club, or are those six figures gone for good if you move or don't want to go anymore?

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And if Lakeside is that much, I can't even being to imagine what Houston Country Club, the Houstonian or River Oaks go for.

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You would be amazed. Don't forget Lochinvar! And, yes, I have inside information on all of these clubs.

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but what happens if you want to get out

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There are two different types of ownership. "Equity" and "non-equity". Generally, resident members (these are the members with full club privileges that live in the area near the club) have equity. Your equity can be anything from a small percentage up towards 100%. Most are split somehwere down the middle, for example 50/50.

So, you walk in with your $100,000 check and want to be a "resident" member of River Oaks. $50,000 of that goes to equity (which is refundable upon resignation from the club) and $50,000 of that goes to initiation fees (which is NOT refundable).

Most clubs do not let you resign unless a new/potential member is ready to join. So, it's best to get onboard with a club that has a waitlist.

Another advantage...let's say you joined Austin Country Club in 1972 and payed $10,000 ($5K equity and $5K initiation fee). When you resign and sell your membership to a new member, you may get a GAIN...meaning the new member pays you $50K for your $5K membership. It functions like "equity" in regular corporations whereby you can earn a gain over time. Only happens with the club raises the equity/initiation fee amount for new members.

Anymore questions???

it can actually be a pretty good deal

Played Falcon Point last week with one of the board members. They are doing a junior executive deal right now for $250 initiation and $250 per month until you hit 39. Then it goes up to $370 per month. Obviously not a River Oaks, but the course is in great shape and very challenging. Water on every hole.

The best part about Lakeside is that family members can play for $25 per round. I just have to be nice to my brother and hope his wife will let him on the golf course more often.

As for golf memberships overall, nationally they are way down and rounds played have dropped significantly - Houston hasn't been impacted much yet but it will happen soon enough. I have seen values of golf courses drop from $13MM to $4-$5 million in the past year. Financing has dried up for much of them and those that will provide it typically are requiring equity type returns. Also there has been a trend of private courses turning public / private as memberships have dropped and the courses need revenue to keep going.

except #3. i grew up playing falcon point. at one time it was a great club and the greens were amazing. the only thing it lacks is a good practice facility.

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except #3. i grew up playing falcon point. at one time it was a great club and the greens were amazing. the only thing it lacks is a good practice facility.

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I've seen someone hit it in the water off #3 tee.

Some random points (I am a member at Pine Forest and play at BraeBurn & Royal Oaks on occasion):

Royal Oaks has a deal going where you can sign up and play for dues only.....then pony up the $90k initiation after 1 year. They aren't anywhere close to maxing out their membership limits.

Braeburn is doing very, very well with yuppies that live in West U & Bellaire, despite being in a rough 'hood.

Carlton Woods is non-equity without consideration for relocation/etc. Read = pay $100k initiation and if you get transfered shortly after, you are out $100k (unless you keep paying dues).

Lakeside's million dollar renovation of the pool area was completely trashed by the flooding ~month ago. The pool house and entire area was under 10-15' of water for days. That said, they have 875 members for 18 holes of golf with a waitlist and initiation in the $60k area, so plenty of funding there.

River Oaks has something like 1300 members paying full dues every month, with some only playing once/year. Pair that with a $250k initiation fee and that is one very healthy cash flow!! I assume HCC is something similar??

Golf in general is hurting really bad across the globe. Private clubs going semi-private, daily-fee courses closing, etc. And when ProV1s go on sale (authorized by Titleist) for 20% off, you know things are tough.

Its all about peace, love and unity.

- Lenny Kravitz

If golf clubs are doing that poorly how can the tennis outfits like Houston Racquet Club and Westside stay afloat? Sure the women probably play more tennis than golf as a whole, but I would think that in general golf clubs would be doing better than tennis clubs. Add to that the fact that Westside lost the clay court tournament a few years ago and Mac's investment is surely hurting.

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Add to that the fact that Westside lost the clay court tournament a few years ago and Mac's investment is surely hurting.

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no doubt it's hurting as well.

I read a while back that he converted a few of the courts to a workout area due to lack of demand for tennis.

Im glad I hunt way more than I golf. No matter what the economy is doing, the animals still walk in the path of my arrows.

I guess I just really don't see how a club that doesn't even offer golf could hope to compete with those that do. Most of the golf courses have tennis, pools and all the stuff the tennis clubs have but more. Of course, not as many courts, but I would think it would be ample.

Not that I should be worried about ever feeling the need to drop more than the cost of a car to join a club.

Westside has been hurting for a while.

They didn't lose the Clay Court Championships as much as they gave them up - Mac was losing money on that deal.

id guess well maintained tennis clubs have much lower operating expenses than well maintained golf courses -> lower fees/higher quality tennis clubs.

Really? I was there one time and was impressed by the stadium he built for the big time events. Hard to believe it's sitting idle now.

Houston Racquet Club is doing just fine. They've chosen a slightly different operating strategy than the typical "country clubs". For their location, their only competitor is clubs is Houston Country Club.

What is the Racquet's Club strategy? Let's just say that you and I have a better chance at a wedding at the Racquet Club than we do at Houston Country Club. It has to do with whether or not non-members can use the facilities for banquest, functions, etc.

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Lakeside's million dollar renovation of the pool area was completely trashed by the flooding ~month ago. The pool house and entire area was under 10-15' of water for days.

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This isn't exactly true. The new pool area was under water, but the new lockers/workout/sauna was not effected at all (they aren't even close to each other), and that's where most of the money in the renovation went.