The Boston, Mass.-based provider of business-intelligence tools and services for the club industry will now offer a capital reserve planning service under the banner, “Capital Reserve Studies powered by Club Benchmarking.” The addition of the new division “advances our mission of delivering insight that helps clubs make informed financial decisions,” said Jim Butler, CCM, the former CEO of Grey Oaks CC who became Club Benchmarking’s new Chief Executive Officer in November.
Club Benchmarking, the Boston, Mass.-based provider of business-intelligence tools and service for the club industry, has acquired Club Capital Planners (CCP), a capital reserve planning company. Club Benchmarking will now deliver that service under the banner, “Capital Reserve Studies powered by Club Benchmarking.”
“We estimate that only 10 percent of clubs have commissioned an independent, third-party capital reserve study,” says Club Benchmarking Founder Ray Cronin. “Capital reserve studies are a critical component of long-term financial planning. Every club would benefit from an objective, professionally completed, 20-year inventory of capital needs. We view this important service as a natural extension of Club Benchmarking’s ongoing commitment to financial health and sustainability for private clubs.”
CCP Founder Paul Mueller will now be part of Club Benchmarking’s executive team, the company announced. That team now also includes Jim Butler, CCM, who became the company’s Chief Executive Officer effective November 1st. Formerly Chief Executive Officer of Grey Oaks Country Club in Naples, Fla., a position he held for 17 years, Butler previously spent 16 years in club-management positions at The Forest Country Club in Fort Myers, Fla.
“The addition of this new [capital reserve studies] division advances our mission of delivering insight that helps clubs make informed financial decisions,” Butler said.