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LTC 46-2003 CITY OF MIAMI BEACH Office of the City Manager Letter to Commission No. To.' From: Subject: Mayor David Dermer and Members of the City Commission Jorge M. Gonzalez City Manager Miami Beach Golf Club Progress Update Date: February 13, 2003 The following is a progress update of the newly opened Miami Beach Golf Club. As you are all aware we cut the ribbon on the new golf course on December 17, 2002 and officially opened the course on December 21,2002. Since that time the golf course has been very well received by our residents, players from the South Florida area and tourists from around the world. Additionally, the Miami Beach Golf Club has received positive attention from local, national and international media, all focusing on not onlythe Miami Beach Golf Club but the splendor of our beautiful City, in general. We are pleased to report to you some of the highlights of the Club's progress since opening; Total players - January: 3,087 Total projected revenue - January: $324,350 Total revenue - January: $328,443 Annual Memberships sold - YTD: 127 Hotel Vouchers sold - YTD: 800 Total players - YTD: 4,501 Total projected revenue -YTD: $498,700 Total revenue - YTD: $458,694 Please note the total projected revenue YTD estimate was completed during the 2003 budget development process in July of 2002 based on a December 1, 2002 course opening. The actual revenue generated was impacted by the course only being open eleven (11) of the thirty one (31) days in December. Attached for your information is a comprehensive summary of the Miami Beach Golf Club's progress as of January 31,2003. Also attached is a compilation of marketing information and public relations successes achieved during this same period. Plea~advise if you have additional questions. J~I~\KS c: Robert C. Middaugh, Assistant City Manager Kevin Smith, Parks & Recreation Director M:\$CMB\3EMP\CM.LTC_Miami Beach Golf Club Update 1_03.doc