The two Louisville, Ky.-area properties have agreed to merge, effective April 1, after both member-owned clubs reported declines in profit in recent years. The merger will give members access to both clubs’ amenities, while reducing overall expenses for the clubs by combining staff and consolidating resources.
Two of the Louisville, Ky., area’s historic country clubs, Big Spring Country Club in Louisville and Harmony Landing Country Club in Goshen, have agreed to merge, the Louisville Business First reported.
The merger is effective April 1, according to Kelly Maxwell, General Manager of Big Spring. Maxwell, who will oversee the operations of both clubs, said the merger provides an opportunity to market more options for potential members. He acknowledged that membership at the clubs has declined in recent years but declined to disclose details, Business First reported.
Members of the merged club will have access to two 18-hole golf courses and two driving ranges, 10 clay and four hard tennis courts, and two Junior Olympic-sized swimming pools. Maxwell added that dining and clubhouse facilities at both locations also will continue to operate, Business First reported.
Big Spring and Harmony Landing are two of Louisville’s oldest golf clubs. Big Spring was founded in 1926, and Harmony Landing was founded in 1929. In recent years, the member-owned clubs—particularly Harmony Landing—have reported declines in profit, Business First reported.
According to filings with the U.S. Internal Revenue Service, Harmony Landing’s expenses exceeded revenue by more than $930,000 from fiscal 2009 to fiscal 2012, Business First reported.
Meanwhile, Big Spring reported an operating profit of $163,839 in fiscal 2009, according to IRS filings. The club reported an operating loss of $70,509 in fiscal 2010, followed by operating profit of $89,922 in fiscal 2011 and $138,273 in fiscal 2012, Business First reported.
Maxwell declined to discuss the finances but said the merger will provide long-term stability for both clubs. Officials will look at opportunities to reduce overall expenses. For instance, Maxwell said, the combined club won’t need two accounting departments, two sales staffs or two website operators, Business First reported.
The clubs also can share some groundskeeping equipment used to maintain their courses, Business First reported.
“We certainly think there are some cost-saving measures,” Maxwell said. “We think that going forward, this is a great opportunity for members.”