Sacramento's Serrano CC Mulls Initiation Fee Cut
We have written about the struggling private golf club market in Sacramento several times in the last couple of months and here is the latest chapter: Serrano CC in suburban El Dorado Hills is considering a plan to cut its initiation fee from $35,000 to $20,000 -- temporarily, it insists -- in an attempt to jumpstart its moribund membership rolls.
The Sacramento Business Journal reported on the initiation fee proposal -- which is being voted on by Serrano's current membership -- in this story. According to the piece, Serrano's problems aren't just finding new members, but keeping the ones it already has:
"Serrano has about 85 members on its sellers' list, which names members interested in selling their memberships. Serrano has not sold a membership since October. That's the most ever on Serrano's sellers list and a long time to go without a sale, said Peggie Ryan-Lanigan, who was on the Serrano membership committee until the end of last year."
Times are tough for country clubs all across the U.S. these days, but I'm wondering if the Sacramento area is the hardest hit. The SBJ story says there are at least six formerly private golf clubs in Sacramento that are currently allowing public play.