Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Annual Plan FY 2023-2024 SilverRock Resort
BUSINESS SESSION ITEM NO. 3 City of La Quinta CITY COUNCIL MEETING: ,tune 20, 2023 STAFF REPORT AGENDA TITLE: APPROVE SILVERROCK RESORT 2023/24 ANNUAL PLAN RECOMMENDATION Approve the SilverRock Resort 2023/24 Annual Plan. EXECUTIVE SUM11inmr<Y • Landmark Golf Management LLC (Landmark) manages the SilverRock Resort golf course and is required to provide an annual operations plan for Council's review and approval. • The SilverRock 2023/24 Annual Plan (Plan) (Attachment 1) reflects the projected number of rounds, revenues, and operation costs. • The golf operations are projected to have a net loss of $315,000 due to several factors including increased operational expenses and continued on -site construction. FISCAL IMPACT The General Fund is projected to underwrite $600,000 of the overall 2023/24 SilverRock expenses. The projected golf operations expenses (not including city staff oversight costs) are $5,179,432 and projected golf operations revenue is $4,866,439 for a net loss of $312,993. The City will also fund $210,000 for golf course and non -golf course management/oversight by City staff. All revenue and expenses will be included in the proposed 2023/24 City Budget. SilverRock Golf Course Operations Revenue $4,866,439 Operations Budget -$5,179,432 Net Revenue $312,993 SilverRock PropertyMana ement/Oversi ht General Fund Advance 600,000 City Management/Oversight -210000 Golf Course Net Revenue _-312,993 Final Surplus/(Deficit) 77,007 645 BACKGROUND/ANALYSIS In July 2013, the City entered into a Golf Course Management Agreement (Agreement) with Landmark. The Agreement requires an annual plan for golf operations. The Plan provides projected annual revenues and expenses, department costs, staffing and service levels. The Plan forecasts continuing the food service from the Ahmanson House and continuing the pro -shop from the temporary club house until the permanent club house opens. Additional assumptions include: 44,125 rounds of play; the average projected revenue is $102.27 per round, based on the total revenue (less food and beverage) divided by the total rounds. The average green fee is $93.16 The difference between revenue per round and the average green fee is the additional revenue generated from merchandise sales, and revenue from the driving range, including lessons. Revenue from the food and beverage operations is not included; • Minimum wage will remain at $15.50 per hour; Continuing the 2% annual contribution of approximately $82,000 to the capital reserve as contained in Amendment 2 of the Agreement. The current balance of the capital reserve is $530,300; Increasing the annual management fee by 5% per year, for the three-year extended term. The proposed advertising budget is $129,762 and is included in the Marketing Department expenses ($170,814) on page 18 of the Annual Plan. SilverRock will continue to be promoted as a premier golf destination, especially during hotel construction, via the internet, newspapers, magazines, directories, television, and radio. ALTERNATIVES Council may direct staff to make modifications to the Annual Plan. Prepared by: Bryan McKinney, P.E., Public Works Director/City Engineer Approved by: Jon McMillen, City Manager Attachment: 1. SilverRock Resort 2023/24 Annual Plan 646 ATTACHMENT 1 LVEPP\OCK 0 R E S O R T SilverRock Resort -Arnold Palmer Classic Course 2023-2024 ANNUAL PLAN Prepared For: City of La Quinta SilverRock Resort Prepared BT. Landmark Golf Management Submitted: June 1, 2023 647 SILVERROCK RESORT Annual Plan Fiscal Year 2023-2024 Table of Contents Part I -Project Overview Project Fact Sheet 1 Mission Statement 2 Philosophy Statement 3 Organizational Chart 4 Key Employee Staffing 5 Part II -Assumptions 2023-2024 Assumptions 6, 7, 8, 9 Part III -Operational Financial Projections 2023-2024 Consolidated Income Statement 10 Part IV -Department Detail Golf Rounds and Revenue 1 1 Golf Shop / Merchandise 12 Carts, Bagroom & Range 13 Course Services 14 Golf Course Maintenance 15, 16 General & Administrative 17 Marketing 18 Clubhouse 19 Miscellaneous 20 Part V-Food and Beverage Department Detail 21 Part VI -Other Marketing Narrative Plan 22,23 648 SILVERROCK" RESRT PROJECT FACT SHEET COURSE NAME SilverRock Resort -Arnold Palmer Classic Course ADDRESS 79-179 Ahmanson Lane, La Quinta, Ca. 92253 TELEPHONE 1-888-600-7272 1-760-777-8884 WEBSITE WWW.SILVERROCK.ORG MANAGEMENT COURSE YARDAGE GRASS TYPES OWNER MANAGED BY DATE COURSE OPENED Randy Duncan, PGA, Director of Golf / General Manager Chris Hoyer, Golf Course Superintendent SILVER 7,239 PAR 72 GOLD 6,809 PAR 72 BLUE 6,313 PAR 72 WHITE 5,669 PAR 72 GREEN 5,089 PAR 72 RED 4,542 PAR 72 GREENS: FAIRWAY / TEES: ROUGHS: CITY OF LA QUINTA TIF DWARF TIF SPORT / 419 TIF SPORT / 419 LANDMARK GOLF MANAGEMENT, LLC 74-947 HIGHWAY 111, SUITE 215 INDIAN WELLS, CA 92210 PHONE: (760) 776-6688 February 14, 2005 649 SILVERROCK RESORT Annual Plan Fiscal Year 2023-2024 Mission Statement "TO BE THE BEST" "TO HAVE THE BEST GOLF FACILITIES" "TO HAVE THE BEST GOLF COURSE CONDITIONS" "TO PROVIDE THE BEST SERVICE" SilverRock Resort is dedicated to providing the finest public golf experience. All Staff Members of the facility play an important role in our Mission. Staff is supported through training and resources to ensure success. SilverRock Resort aspires to represent ownership and management with the highest standard of service in the Golf/Resort Industry and produce superior golf course conditions to meet and exceed the goals. Goals and Objectives: To support our Mission Statement and to achieve the projected Annual Plan; SilverRock Resort will pursue the following goals and objectives: • To hire and train staff members that will provide a high standard of guest services and maintain the highest level of course conditions • To maintain and pursue an aggressive Marketing Plan that benefits/acknowledges the La Quinta Residents, local residents, avid tourist golfers and golfing public • To have each Department operate within their annual budget allowing SilverRock Resort to reach the net operating goals 650 SILVERROCK RESORT Annual Plan Fiscal Year 2023-2024 PHILOSOPHY STATEMENT After eighteen and a half years of operations, an Annual Plan accommodated the operational start-up through and including grow -in, final construction of the Arnold Palmer Classic Course, a notable Grand Opening Celebration and four successful years as one of the home courses of the Bob Hope Classic. As the 2023-2024 Annual Plan is implemented, focus will continue to be on broadening the awareness, marketability and noteworthiness of SilverRock Resort's Arnold Palmer Classic Course, golf facilities and amenities. The philosophy that Landmark Golf Management perpetuates at SilverRock Resort is: an operation that allows management to utilize golf industry best -practices in accommodating market -driven demands as market shifts may occur. Each golf course facility has its own personality and characteristics; therefore, each golf operation is unique to some degree and should be managed with personality and characteristics taken into consideration. Golf operators that adjust procedures to short and long term market and industry fluctuations are better suited to maximize opportunities. In this upcoming twelve months of operations, Landmark Golf Management will put forth every effort to best position SilverRock Resort as a place to frequent in the eyes and minds of the influential decision makers in the world of golf. BRAND PROMISE Discover the mystique of SilverRock Resort, the crown jewel of La Quinta and its golf legacy. Rich in both history and legend, the majestic Santa Rosa Mountains frame an unwavering commitment to an exceptional experience at SilverRock Resort. Our Promise: Exceptional in All, For All, Always. 651 652 Golf Shop Head Golf Professional Asst. Golf Professionals Golf Shop Buyer Sales Associates Guest / Outside Service Outside Services Manager Carts/Bag Room Shuttle/Valet Starters/Rangers Driving Rana. Golf Course Maintenance Asst. Superintendent Mechanic(s) Irrigation Technician Spray Technician Greenskeeper(s) I Administrative Asst. Annual Plan 2023-2024 SRR.xls City of La Quinta City Council & Staff City Manager Landmark Golf Management Management Team SilverRock - Randy Duncan General Mgr. / Director of Golf Accounting Controller / Human Resources LF Admin. Asst. To Controller & GM Food & Beverage F&B Manager Restaurant F&B Server(s) / Cart Attendent(s) Marketing & Sales Tournament Sales Manager 653 Key Employee Staffing RUN DATE: 01-Jun-23 PREEAREDEY: Landmark Golf Management 2023-2024 ANNUAL PLAN DEPARTMENT SUMMARY JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. GOLF OPERATION OUTSIDE SERVICES OUTSIDE SERVICES MANAGER (FULL TIME) 1 1 1 1 1 1 1 1 1 1 1 1 OUTSIDE SERVICES SUPERVISORS (FULL-TIME) 1 1 1 1 1 1 1 1 1 1 1 1 DRIVING RANGE (PART-TIME) 1 1 1 1 1 1 2 2 2 2 1 1 CART/BAG/VALET/BAG DROP (FULL-TIME) 0 0 0 0 0 0 0 0 0 0 0 0 CART/BAG/VALET/BAG DROP (PART-TIME) 3 3 4 6 9 9 9 9 9 9 8 4 SHUTTLE DRIVER (PART-TIME) 1 1 1 1 2 2 2 2 2 2 0 0 GOLF SHOP HEAD GOLF PROFESSIONAL (FULL TIME) 1ST ASSISTANT PROFESSIONAL (FULLTIME) MERCHANDISER (FULLTIME) ASSISTANT PROFESSIONAL (FULLTIME) SALES CLERKS (FULL TIME) SALES CLERKS (PART TIME) COURSE SERVICES STARTERS (PART TIME) RANGER/MARSHALS (PART TIME) GOLF COURSE MAINTENANCE SUPERINTENDENT (FULLTIME) ASST SUPERINTENDENT (FULLTIME) FOREMAN/SPRAY TECHNICIAN (FULLTIME) HEAD MECHANIC / FACILITY MANAGER (FULL TIME) ASST MECHANIC (FULL TIME) HEAD IRRIGATOR (FULL TIME) ASST IRRIGATOR (FULLTIME) GREENKEEPERS (FULL TIME) ADMINISTRATIVE ASSISTANT (PART TIME) TOTAL TURF & ADMIN TOTAL COURSE MAINTENANCE FOOD & BEVERAGE F & B MANAGER / SUPERVISOR (FULL TIME) CHEF (FULLTIME) COOK (FULL TIME) PREP COOK (FULL TIME) LEAD SERVER (FULL-TIME) F & B WAIT/BEVERAGE CARTMALF(FULL TIME) F & B WAIT/BEVERAGE CART/HALF(PART TIME) BUSER / DISHWASHER (PART TIME) G&A DIRECTOR OF GOLF/GM (FULL TIME) CLUB CONTROLLER (FULL TIME) ADMINISTRATIVE ASSISTANT (FULLTIME) CONSULTANT TO CONTROLLER TOURNAMENT SALES / GROUP COORDINATOR (FULL TIME) TOTAL EMPLOYEES 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 7 7 7 7 7 7 7 7 7 7 7 7 3 3 3 3 3 3 3 3 3 3 3 3 1 1 1 1 4 4 4 4 4 4 1 1 4 4 4 4 7 7 7 7 7 7 4 4 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 10 10 12 12 12 12 12 12 12 12 12 12 0 0 0 0 0 0 0 0 0 0 0 0 5 5 6 4 9 13 13 13 13 11 7 7 3 3 3 3 3 3 3 3 3 3 3 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 4 4 4 4 3 3 3 3 3 3 3 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 45 45 49 49 60 64 65 65 65 63 52 48 654 SILVERROCK RESORT 2023-2024 ANNUAL PLAN 2023-2024 Assumptions Revenue Operations It is assumed there will be ongoing significant hotel/commercial construction occurring during the fiscal year 2023-2024, which will have an impact on golf course operations during the summer of 2023 and into the entire season of 2023-2024. It is assumed, max revenue is not achievable given the current state of construction; unsightly construction fences, temporary dirt cart paths, construction noises/dust, temporary facilities, construction trash which consistently spill over to the course, reduced practice facilities, etc... In addition, access to the Ahmanson Ranch House and parking will continue to be limited which will result in a reduction in Food & Beverage Sales for the 2023-2024 fiscal year. However, all efforts are being made to make the experience the best it can possibly be despite the current state of construction challenges at SilverRock. It is assumed the Permanent Clubhouse will not open during the time of this Annual Plan 2023- 2024. The optimal time for this transition to occur would be Fall 2024 or during the period of time when the golf courses closes for overseeding. It is assumed, the golf course will remain SilverRock, the rebranding to Talus Golf Club will occur at a future date. It will also be assumed Golf Operations will continue to operate out of a Temporary Clubhouse located in the "dog bone" area adjacent to hole #2 tee boxes until Permanent Clubhouse opens. The SilverRock Grill will remain open at the existing Ahmanson Clubhouse in its current location until the Permanent Clubhouse opens. Golf & Merchandise • July -August, the last tee time will be 12:50 pm w/ golf shop hours being 6:00 am to 2:00 pm daily. • Reduced traffic (due to ongoing construction) in golf shop will have a negative impact on merchandise sales July through October 2023. Food & Beverage • The Ahmanson Ranch House and the Grill at SilverRock will continue to operate with reduced access and hours of operation during the summer of 2023 or from July 1, 2023 through October 2023. 655 SILVERROCK RESORT 2023-2024 ANNUAL PLAN Green Fees: A green fee includes golf cart and warm-up range balls. A combination of the various green fee rates and green fee mix of Regular, Twilight, and Resident play is anticipated to yield an average rate of $93.16 per round based on 44,125 annual rounds. The non-resident green fee rates for the 2023-2024 fiscal year are projected to remain consistent with the prior year but may vary depending upon market conditions. Green fee rates will continue to be based market conditions, dynamic pricing and course utilization levels. La Quinta Resident rates will remain the same as prior year; $60 (high season), $49 (shoulder seasons) and $35 (summer season). Accompanied La Quinta Resident Guests will continue to received 30% off prevailing posted rates (not including twilight or any discounted rates) and will follow similar booking procedures as extended to a La Quinta Resident Card Holder; booking three (3) days in advance. It is assumed the overseeding dates will be October 2 through October 31, 2023. Annually overseeding reduces revenues during these dates which is taken into consideration in these projections with the course being closed these dates. For the fiscal year 2023-2024, it is also projected that aerification will occur in August 2023 and June of 2024 which reduces revenue for 5- 7 days with each of these two (2) aerification cycles. Greens Fee Mix: Through proper marketing, yield management, and limited advanced Resident bookings the projected mix of green fees is: 30% Resident, 25% Public, 10% Public Twilight, & 35% Other (tournaments, wholesalers, juniors, resident guests, replays and discounts). Miscellaneous and Other Revenue: Is based on $3.54 per round. This consists of golf club rentals, golf club repairs, handicap fees, driving range fees, rider fees, and Independent Contractor's Fees (Teaching Professionals). Golf Shop Merchandise: Is based on retail sales of $5.57 per round. Resident Card Fees: All resident card distribution and renewals will be issued out of the Wellness Center for 2023-2024 Annual Plan. As a result, Annual Revenues of approximately $165,000 will be omitted from SilverRock's revenue projections. Cost of Goods Sold Merchandise 55 % Food & Beverage 33 % 656 SILVERROCK RESORT 2023-2024 ANNUAL PLAN Expenses Golf Carts, Bag Room, and Driving Range: Includes outside service, bag room, and driving range staff plus supplies and operating expense for this department. Additional shuttle shifts will remain in this year's Annual Plan to shuttle customers down and back from the restaurant, driving range and practice area. This is a result of the location of the temporary golf clubhouse and the existing restaurant at the Ahmanson Ranch House. Per California State Law, there is not a mandated pay increase for the year 2024. The current rate of $15.50 per hour will be used to calculate minimum wage for this Annual Plan. Golf Shop: Includes golf professionals, merchandising sales staff, receiving staff and golf shop operational expenses. Per California State Law, there is not a mandated pay increase for the year 2024. The current rate of $15.50 per hour will be used to calculate minimum wage for this Annual Plan. Course Services: Includes course service staff consisting of course rangers/starters and related department supplies and materials. Per California State Law, there is not a mandated pay increase for the year 2024. The current rate of $15.50 per hour will be used to calculate minimum wage for this Annual Plan. Golf Course Maintenance: Includes compensation and payroll related costs for the Golf Course Maintenance Superintendent, grounds maintenance staff, supplies, and materials. Overseeding dates are projected to be October 2-31, 2023, which results in projected higher labor cost and supply costs during the annual overseeding process. Golf Course Superintendent Education, training and travel expense are included in the 2023-2024 Annual Plan. In addition, Front Entry and Perimeter Landscape Maintenance are accounted for in this department's operating budget. Per California State Law, there is not a mandated pay increase for the year 2024. The current rate of $15.50 per hour will be used to calculate minimum wage for this Annual Plan. Water & Electrical: The 2023-2024 Annual Plan includes water and electrical costs to irrigate the golf course & properly maintain the lake system. This is accounted for in the Golf Course Maintenance budget. Projected Annual Electric costs of $166,940 will cover 100% of the facilities electric costs including; front entry waterfall, water well pump, golf course pump station, north village lake waterfalls & circulation pumps, cart storage area and both clubhouses. These expenses will continue to be budgeted in the 2023-2024 Annual Plan as water and electrical costs. 657 SILVERROCK RESORT 2023-2024 ANNUAL PLAN Food & Beverage: Includes food & beverage staff and expenses for the temporary clubhouse. There is a separate Agreement for the Food & Beverage Department including the Liquor License arrangement between the City and Landmark Golf Management. Per California State Law, there is not a mandated pay increase for the year 2024. The current rate of $15.50 per hour will be used to calculate minimum wage for this Annual Plan Marketing: Includes marketing, public relations, advertising, web page, collateral and tournament sales, etc. Refer to pages 21 & 22, for the Marketing Plan Narrative. Clubhouse: Clubhouse expenses, maintenance/cleaning staff, landscape maintenance, parking lot and entry drive clean up. Roving patrol expenses to secure the entire property of SilverRock continues to be included in this department's operating budget. Management Fee: For the 2023-2024 Annual Plan, Landmark's Management Fee will be increased 5% to $10,892 per month. Insurance: Per requirements of the Golf Course Management Agreement in the Annual Plan is the cost for comprehensive golf club insurance policy, general liability, property, equipment and business interruption etc. G&A: Expenses include General Manager, Controller & Administrative Assistant Salaries, Professional Fees, Payroll Processing Fees, Equipment Expenses, Equipment Rental and Resident Card Expenses. Personal Property Lease Tax: Exempt, except personal property taxes on equipment purchases or leases which are included in this Annual Plan. Capital Reserves: Capital Reserves of 2% of green fees will be reallocated in the 2023-2024 Annual Plan upon City of La Quinta Staff direction. Golf Carts Lease: Golf carts are leased for the Golf Club. For the 2023-2024 Fiscal Year, this will be the last and final year of the lease for the current fleet of golf carts. The budgeted lease amount of $10,586 per month will remain for months July -October 2023, and then increase to $14,000 per month beginning November 2023. GPS Lease: Monthly golf cart GPS rental/lease expense for the fleet of golf carts is $2,900 per month and will remain unchanged from the prior year. 658 2023-2024 ANNUAL PLAN SilverRock Resort CONSOLIDATED INCOME STATEMENT aon o.re. oWov rr.�,,rr FOR FISCAL YEAR - JULY 2023 - JUNE 2024 rnanneoev. r..em..�car ..�.m..r DEPARTMENT BUDGET JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. ROUNDS ROUNDS 44,125 1,850 1,750 2,400 200 5,400 4,610 4,800 5,200 6,100 5,215 4,300 2,300 REVENUE GREEN FEES 4,110,847 89,448 84,613 165,648 13,910 546,480 444,635 480,960 602,940 701,195 488,124 354,320 138,575 MISC. REV/RANGE/CARTS/RENTALS 156,180 3,900 3,350 3,900 800 17,400 18,500 23,800 26,550 27,400 15,040 10,395 5,145 GOLF SHOP MERCHANDISE 245,623 5,365 5,075 8,400 500 29,700 27,660 28,800 36,400 42,700 28,683 21,070 11,270 FOOD & BEVERAGE 710,099 22,663 15,750 20,880 1,500 87,780 77,679 82,032 97,760 108,580 97,652 63,899 33,925 TOTAL REVENUE 5,222,748 121,375 108,788 198,828 16,710 681,360 568,473 615,592 763,650 879,875 629,499 449,684 188,915 COST OF SALES PRO SHOP 137,475 3,003 2,840 4,701 280 16,623 15,481 16,119 20,373 23,899 16,054 11,793 6,308 FOOD & BEVERAGE 218,834 8,331 6,317 7,396 2,335 25,314 23,984 24,746 29,187 31,814 28,173 18,972 12,265 TOTAL COST OF SALES 356,309 11,334 9,157 12,097 2,615 41,937 39,466 40,865 49,560 55,714 44,227 30,764 18,573 GROSS PROFIT 4,866,439 110,041 99,630 186,731 14,095 639,423 529,007 574,727 714,090 824,161 585,272 418,919 170,342 OPERATING EXPENSES GOLF CARTS\BAGS\RANGE 426,237 22,215 22,215 23,340 19,032 50,270 48,132 45,074 46,756 46,381 45,881 33,255 23,686 GOLF SHOP 259,447 16,075 16,075 16,075 11,981 23,805 24,984 27,061 25,546 25,546 25,098 26,255 20,948 COURSE SERVICES 116,521 3,902 3,902 4,453 4,106 14,984 15,159 14,984 14,934 14,934 12,335 6,412 6,412 GOLF COURSE MAINTENANCE 2,005,608 142,089 121,386 150,712 401,159 151,193 153,971 141,071 149,676 147,780 156,714 137,477 152,382 WATER & ELECTRIC COST 282,424 24,250 23,360 24,610 25,410 28,000 19,515 21,300 20,220 21,250 24,220 26,750 23,539 GENERAL & ADMINISTRATIVE 472,307 41,362 41,512 39,598 39,065 37,596 42,882 39,982 39,232 38,982 36,982 37,282 37,832 MARKETING 170,814 4,540 4,540 5,635 19,590 21,935 18,252 20,457 21,602 18,777 15,082 12,327 8,082 CLUBHOUSE 185,512 15,301 15,301 15,301 15,801 15,301 15,301 15,801 15,301 15,801 15,301 15,301 15,701 MANAGEMENT FEE 130,704 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 CAPITAL RESERVES 82,217 1,789 1,692 3,313 278 10,930 8,893 9,619 12,059 14,024 9,762 7,086 2,772 INSURANCE 107,000 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 PERSONAL PROPERTY LEASE TAXES 23,600 5,200 0 4,000 2,600 0 0 0 0 0 0 0 11,800 LEASES 425,344 32,636 32,636 32,636 32,636 36,850 36,850 36,850 36,850 36,850 36,850 36,850 36,850 FOOD & BEVERAGE 491,697 30,014 29,739 31,459 18,794 40,260 55,003 57,218 55,273 56,268 48,465 36,162 33,043 TOTAL OPERATING EXPENSES 5,179,432 359,181 332,166 370,940 610,261 450,932 458,749 449,225 457,257 456,401 446,499 394,966 392,856 NET INCOME (312,993) (249,140) (232,536) (184,209) (596,165) 188,491 70,258 125,502 256,833 367,761 138,773 23,953 (222,514) NET INCOME % -6.0% -205.3 % -213.8 % -92.6 % -3567.7 % 27.7 % 12.4 % 20.4 % 33.6 % 41.8 % 22.0 % 5.3 % -117.8 % Average Green Fee $93.16 $48.35 $48.35 $69.02 $69.55 $101.20 $96.45 $100.20 $115.95 $114.95 $93.60 $82.40 $60.25 Average $ Misc. Income per Rd $3.54 $2.11 $1.91 $1.63 $4.00 $3.22 $4.01 $4.96 $5.11 $4.49 $2.88 $2.42 $2.24 Average $ Merchandise per Rd $5.57 $2.90 $2.90 $3.50 $2.50 $5.50 $6.00 $6.00 $7.00 $7.00 $5.50 $4.90 $4.90 Total Average Revenue per Round $102.27 $65.61 $62.16 $82.85 $83.55 $126.18 $123.31 $128.25 $146.86 $144.24 $120.71 $104.58 $82.14 659 2023-2024 ANNUAL PLAN SilverRock Resort RUN DATE: 02-Jun.23 11:02 AM Pro ectione . Jul 2023 to June 2024 PREPARED BY: Laedm,& Golf Management Golf Rounds Total JUL. AUG. SEP. IFOCT. I NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. Resident Rnds (Weekday) 7,501 315 298 408 34 918 784 816 884 1037 887 731 391 Resident Rnds (Weekend) 5,736 241 228 312 26 702 599 624 676 793 678 559 299 Sub -Total Resident Rnds 13,238 555 525 720 60 1620 1383 1440 1560 1830 1565 1290 690 of Total 0.30 Public Rnds (Weekday) 8,825 370 350 480 40 1080 922 960 1040 1220 1043 860 460 Public Rnds (Weekend) 6,619 278 263 360 30 810 692 720 780 915 782 645 345 Sub -Total Public Rnds 15,444 648 613 840 70 1890 1614 1680 1820 2135 1825 1505 805 of Total 0.35 Public Twi (Weekday) 4,854 204 193 264 22 594 507 528 572 671 574 473 253 Public Twi (Weekend) 3,971 167 158 216 18 486 415 432 468 549 469 387 207 Sub -Total Twilight Rnds 8,825 370 350 480 40 1080 922 960 1040 1220 1043 860 460 of Total 0.20 Other (Weekday) 3,971 167 158 216 18 486 415 432 468 549 469 387 207 Other (Weekend) 2,648 ill 105 144 12 324 277 288 312 366 313 258 138 Sub -Total Other 6,619 278 613 840 70 1890 1614 1680 1820 2135 1825 1505 805 % of Total 0.15 Total Rounds 44,125 a1!!!rL 1,750 2,400 200 5,400 4,610 4,800 5,200 6,100 527 Green Fees Resident Rnds (Weekday) $ 33.00 $ 33.00 $ 40.00 $ 49.00 $ 49.00 $ 49.00 $ 60.00 $ 60.00 $ 60.00 $ 49.00 $ 49.00 $ 49.00 Resident Rnds (Weekend) $ 33.00 $ 33.00 $ 49.00 $ 49.00 $ 49.00 $ 49.00 $ 60.00 $ 60.00 $ 60.00 $ 49.00 $ 49.00 $ 49.00 Public Rnds (Weekday) $ 50.00 $ 50.00 $ 65.00 $ 75.00 $ 125.00 $ 120.00 $ 120.00 $ 150.00 $ 150.00 $ 120.00 $ 105.00 $ 60.00 Public Rnds (Weekend) $ 60.00 $ 60.00 $ 100.00 $ 85.00 $ 135.00 $ 125.00 $ 125.00 $ 155.00 $ 155.00 $ 125.00 $ 115.00 $ 75.00 Public Twi (Weekday) $ 50.00 $ 50.00 $ 65.00 $ 80.00 $ 105.00 $ 105.00 $ 105.00 $ 120.00 $ 115.00 $ 90.00 $ 85.00 $ 65.00 Public Twi (Weekend) $ 65.00 $ 65.00 $ 95.00 $ 80.00 $ 115.00 $ 105.00 $ 110.00 $ 135.00 $ 130.00 $ 105.00 $ 95.00 $ 75.00 Other (Weekday) $ 50.00 $ 50.00 $ 65.00 $ 70.00 $ 125.00 $ 120.00 $ 120.00 $ 125.00 $ 125.00 $ 110.00 $ 75.00 $ 50.00 Other (Weekend) $ 60.00 $ 60.00 $ 105.00 $ 80.00 $ 135.00 $ 120.00 $ 120.00 $ 135.00 $ 135.00 $ 115.00 $ 80.00 $ 65.00 Golf Revenue Resident Rnds (Weekday) 384,204 $ 10,379 $ 9,818 $ 16,320 $ 1,666 $ 44,982 $ 38,401 $ 48,960 $ 53,040 $ 62,220 $ 43,441 $ 35,819 $ 19,159 Resident Rnds (Weekend) 296,611 $ 7,937 $ 7,508 $ 15,288 $ 1,274 $ 34,398 $ 29,366 $ 37,440 $ 40,560 $ 47,580 $ 33,220 $ 27,391 $ 14,651 Public Rnds (Weekday) 1,013,100 $ 18,500 $ 17,500 $ 31,200 $ 3,000 $ 135,000 $ 110,640 $ 115,200 $ 156,000 $ 183,000 $ 125,160 $ 90,300 $ 27,600 Public Rnds (Weekend) 817,294 $ 16,650 $ 15,750 $ 36,000 $ 2,550 $ 109,350 $ 86,438 $ 90,000 $ 120,900 $ 141,825 $ 97,781 $ 74,175 $ 25,875 Public Twi (Weekday) 463,859 $ 10,175 $ 9,625 $ 17,160 $ 1,760 $ 62,370 $ 53,246 $ 55,440 $ 68,640 $ 77,165 $ 51,629 $ 40,205 $ 16,445 Public Twi (Weekend) 426,116 $ 10,823 $ 10,238 $ 20,520 $ 1,440 $ 55,890 $ 43,565 $ 47,520 $ 63,180 $ 71,370 $ 49,282 $ 36,765 $ 15,525 Other (Weekday) 412,007 $ 8,325 $ 7,875 $ 14,040 $ 1,260 $ 60,750 $ 49,788 $ 51,840 $ 58,500 $ 68,625 $ 51,629 $ 29,025 $ 10,350 Other (Weekend) 297,656 $ 6,660 $ 6,300 $ 15,120 $ 960 $ 43,740 $ 33,192 $ 34,560 $ 42,120 $ 49,410 $ 35,984 $ 20,640 $ 8,970 Total Revenue 4,110,847 $ 89,448 $ 84,613 $ 165,648 $ 13,910 $ 546A80 $ 444,635 $ 480,960 $ 602,940 $ 701,195 $ 488,124 $ 354,320 $ 138,575 Avg. Rate $ 93.76 $ 48.35 $ 48.35 $ 69.02 $ 69.55 $ 101.20 $ 96.45 $ 100.20 $ 115.95 $ 114.95 $ 93.60 $ 82.40 $ 60.25 Misc Revenue Club Rental 29,800 $ 800 $ 750 $ 1,000 $ 50 $ 3,900 $ 3,900 $ 3,950 $ 4,250 $ 4,500 $ 3,000 $ 2,475 $ 1,225 Driving Range Balls 97,350 $ 1,600 $ 1,500 $ 1,400 $ 250 $ 10,000 $ 10,500 $ 14,500 $ 18,000 $ 19,500 $ 9,000 $ 7,425 $ 3,675 Rider Fees 17,480 $ 1,000 $ 1,100 $ 1,500 $ - $ 2,500 $ 3,100 $ 3,100 $ 2,400 $ 1,500 $ 540 $ 495 $ 245 Handicap Fees 1,550 $ - $ - $ - $ - $ - $ - $ 750 $ 400 $ 400 $ - $ - $ - Independent Instructor Fees 7,500 $ - $ - $ - $ - $ 1,000 $ 1,000 $ 1,000 $ 1,500 $ 1,500 $ 1,500 $ - $ - Ball Retreival 2,500 $ 500 $ - $ - $ 500 $ - $ - $ 500 $ - $ - $ 1,000 $ - $ - Total 156,180 $ 3,900 $ 3,350 $ 3,900 $ 800 $ 17,400 $ 18,500 $ 23,800 $ 26,550 $ 27,400 $ 15,040 $ 10,395 $ 5,145 m 2023-2024 ANNUAL PLAN SilverRock Resort RUN DATE: 014 -23 10:13AM Projections - July 2023 to June 2024 PREPARED BY: Landmark Sole Management GOLF SHOP MERCHANDISE SALES TOTAL # OF ROUNDS 44,125 1,850 1,750 2,400 200 5,400 4,610 4,800 5,200 6,100 5,215 4,300 2,300 AVERAGE REVENUE / ROUND $5.57 $2.90 $2.90 $3.50 $2.50 $5.50 $6.00 $6.00 $7.00 $7.00 $5.50 $4.90 $4.90 TOTAL MERCHANDISE SALES $245,623 5,365 5,075 8,400 500 29,700 27,660 28,800 36,400 42,700 28,683 21,070 11,270 MERCHANDISE REVENUE Soft Goods Sales 184,217 4,024 3,806 6,300 375 22,275 20,745 21,600 27,300 32,025 21,512 15,803 8,453 Hard Goods Sales 61,406 1,341 1,269 2,100 125 7,425 6,915 7,200 9,100 10,675 7,171 5,268 2,818 TOTAL MERCHANDISE REVENUE 245,623 5,365 5,075 8,400 500 29,700 27,660 28,800 36,400 42,700 28,683 21,070 11,270 COST OF SALES 55.97 % 55.97% 55.97% 55.97% 55.97% 55.97% 55.9796 55.97% 55.9796 55.97% 55.97% 55.9796 55.97% COS - Merchandise (58%) 142,461 3,112 2,944 4,872 290 17,226 16,043 16,704 21,112 24,766 16,636 12,221 6,537 Purchase Disc Taken - (5%) (7,123) (156) (147) (244) (15) (861) (802) (835) (1,056) (1,238) (832) (611) (327) Freight - Merchandise 2,137 47 44 73 4 258 241 251 317 371 250 183 98 TOTAL COST OF SALES 137,475 3,003 2,840 4,701 280 16,623 15,481 16,119 20,373 23,899 16,054 11,793 6,308 GROSS PROFIT 108,148 2,362 2,235 3,699 220 13,077 12,179 12,681 16,027 18,801 12,629 9,277 4,962 SALARIES AND BENEFITS Salaries and Wages 196,196 12,038 12,038 12,038 8,247 18,532 19,532 20,072 20,072 20,072 19,692 17,692 16,172 Payroll Taxes 19,129 1,174 1,174 1,174 804 1,807 1,904 1,957 1,957 1,957 1,920 1,725 1,577 Workers' Compensation 15,959 979 979 979 671 1,507 1,589 1,633 1,633 1,633 1,602 1,439 1,315 Health Insurance/Benefits 9,288 774 774 774 774 774 774 774 774 774 774 774 774 TOTAL SALARIES AND BENEFITS SUPPLIES AND MATERIALS 240,572 14,965 14,965 14,965 10,496 22,620 23,799 24,436 24,436 24,436 23,988 21,630 19,838 OTHER -EXPENSES Office Supplies 3,000 250 250 250 250 250 250 250 250 250 250 250 250 Dues and Subscriptions 2,300 0 0 0 0 0 0 0 0 0 0 2,300 Freight / Delivery 75 0 0 0 25 25 25 0 0 0 0 0 0 Travel 90 0 0 0 0 0 0 15 15 15 15 15 15 Uniforms 2,400 100 100 100 100 300 200 500 200 200 200 200 200 Telephone 1,320 110 110 110 110 110 110 110 110 110 110 110 110 Seminars/Training 3,690 150 150 150 500 0 100 1,250 35 35 35 1,250 35 Miscellaneous 6,000 500 500 500 500 500 500 500 500 500 500 500 500 TOTAL OTHER EXPENSES 18,875 1,110 1,110 1,110 1,485 1,185 1,185 2,625 1,110 1,110 1,110 4,625 1,110 TOTAL EXPENSES 259,447 16,075 16,075 16,075 11,981 23,805 24,984 27,061 25,546 25,546 25,098 26,255 20,948 Seminars/Training - Reimbursement for eligible golf shop employees (Director of Golf, Head Professional & 1st Assistant Golf Professional) for PGA Training, Education and Travel Expenses Office Supplies are made up of: Golf Cart Rental Agreements, Golf Club Rental Agreements, Gift Certificates & Merchandise Bags Uniforms- Each Full -Time Emp receives (1) shirt per month 661 2023-2024 ANNUAL PLAN SilverRock Resort Projections - July 2023 to June 2024 RUN DATE: 01-.Ian-23 PREPARED BY: Landmark Golf Management 01:59 PM CARTS, BAGROOM & RANGE - 641 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. SALARIES AND BENEFITS Salaries and Wages 266,317 12,372 12,372 13,677 8,011 25,445 33,325 30,810 32,205 32,205 32,205 20,200 13,490 Incentives \ Bonus 0 Payroll Taxes 33,156 1,540 1,540 1,703 997 3,168 4,149 3,836 4,010 4,010 4,010 2,515 1,680 Workers' Compensation 21,662 1,006 1,006 1,113 652 2,070 2,711 2,506 2,620 2,620 2,620 1,643 1,097 Health Insurance/Benefits 9,288 774 774 774 774 774 774 774 774 774 774 774 774 TOTAL SALARIES AND BENEFITS 330,424 15,692 15,692 17,267 10,434 31,457 40,959 37,926 39,608 39,608 39,608 25,132 17,041 SUPPLIES AND MATERIALS Range Expendable Supplies 6,750 600 600 150 150 1,800 150 1,000 1,000 150 150 500 500 Towel Replacement 2,182 120 120 120 120 185 195 250 250 250 250 250 72 Bottled Water 30,000 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 Cart Supplies 1,850 0 0 0 500 500 500 75 75 50 50 50 50 Range Balls 10,000 0 0 0 0 10,000 0 0 0 0 0 0 0 TOTAL SUPPLIES AND MATERIALS 50,782 3,220 3,220 2,770 3,270 14,985 3,345 3,825 3,825 2,950 2,950 3,300 3,122 REPAIRS AND MAINTENANCE Equipment Repair - Golf 3,600 300 300 300 300 300 300 300 300 300 300 300 300 TOTAL REPAIRS AND MAINTENANCE 3,600 300 300 300 300 300 300 300 300 300 300 300 300 OTHER EXPENSES Expendable Supplies 525 25 25 25 50 50 50 50 50 50 50 50 50 Printing / Stationary 420 0 0 0 0 0 0 70 70 70 70 70 70 Cart Maintenance & Repairs 18,036 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 Freight / Delivery 450 75 75 75 75 75 75 0 0 0 0 0 0 Uniforms 5,200 0 0 0 2,000 500 500 0 0 500 0 1,500 200 Laundry and Linen 9,600 800 800 800 800 800 800 800 800 800 800 800 800 Miscellaneous 7,200 600 600 600 600 600 600 600 600 600 600 600 600 TOTAL OTHER EXPENSES 41,431 3,003 3,003 3,003 5,028 3,528 3,528 3,023 3,023 3,523 3,023 4,523 3,223 TOTAL EXPENSES 426,237 22,215 22,215 23,340 19,032 50,270 48,132 45,074 46,756 46,381 45,881 33,255 23,686 Expendable Supplies are made up of: - Scorecards, Tees, Pencils, Trash Bags, Cups & First Aid Supplies. Uniforms- Each employee receives 4 shirts, 1 hat per season - M 2023-2024 ANNUAL PLAN SllverRock Resort RUN DATE: 01-Jun-23 01:59 PM Projections - July 2023 to June 2024 PREPARED BY: Landmark Golf Management TOTAL I COURSE SERVICES - 643 JUL. I AUG. I SEP. I OCT. I NOV. I DEC. I JAN. I FEB. I MAR. I APR. I MAY I JUN. SALARIES AND BENEFITS Salaries and Wages 95,471 3,162 3,162 3,587 2,635 12,478 12,478 12,478 12,478 12,478 9,998 5,270 5,270 Payroll Taxes 9,308 308 308 350 257 1,217 1,217 1,217 1,217 1,217 975 514 514 Workers' Compensation 7,766 257 257 292 214 1,015 1,015 1,015 1,015 1,015 813 429 429 TOTAL SALARIES AND BENEFITS 112,545 3,727 3,727 4,228 3,106 14,709 14,709 14,709 14,709 14,709 11,785 6,212 6,212 SUPPLIES AND MATERIALS Expendable Supplies 1,050 50 50 100 100 100 100 100 100 100 100 75 75 TOTAL SUPPLIES AND MATERIALS 1,050 50 50 100 100 100 100 100 100 100 100 75 75 OTHER EXPENSES Uniforms 2,125 75 75 75 800 75 250 75 75 75 400 75 75 Safety Equipment 600 50 50 50 50 50 50 50 50 50 50 50 50 Miscellaneous 200 0 0 0 50 50 50 50 0 0 0 0 0 TOTAL OTHER EXPENSES 2,926 125 125 125 900 175 350 176 125 125 450 125 125 TOTAL COURSE SERVICES EXPENSES 116,521 3,902 3,902 4,453 4,106 14,984 15,159 14,984 14,934 14,934 12,335 6,412 6,412 Expendable Supplies are made up of: Clipboards, Paper (starter sheets, ranger sheets), Towels, Trash Bags Uniforms- Each employee receives 4 shirts, 1 hat per season 663 2023-2024 ANNUAL PLAN SilverRock Resort Projections - July 2023 to June 2024 RUN DATE: 01-Jun-23 10:49 AM PREPAREDBY: Landmark Golf Management MAINTENANCE DEPARTMENT -63 TOTAL I JUL. I AUG. I SEP. I OCT. NOV. DEC. I JAN. I FEB. I MAR. I APR. I MAY I JUN. SALARIES AND BENEFITS Salaries and Wages 852,304 59,091 60,927 66,588 72,797 71,501 75,454 75,454 75,389 75,396 75,396 71,508 72,804 Overtime Hourly Wages 33,620 0 2,160 2,592 16,000 2,592 0 0 2,592 2,500 2,592 2,592 0 Incentives \ Bonus 0 0 0 0 0 0 0 0 0 0 0 0 0 Payroll Taxes 86,378 5,761 6,151 6,745 8,658 7,224 7,357 7,357 7,603 7,595 7,604 7,225 7,098 Workers' Compensation 42,860 2,895 3,056 3,347 4,090 3,588 3,697 3,697 3,779 3,776 3,779 3,589 3,567 Health Insurance/Benefits 107,838 6,600 6,600 8,148 8,922 9,696 9,696 9,696 9,696 9,696 9,696 9,696 9,696 TOTAL SALARIES AND BENEFITS 1,122,999 74,347 78,894 87,420 110,467 94,601 96,204 96,204 99,059 98,963 99,067 94,610 93,165 SUPPLIES Fertilizer 111,800 6,000 3,400 9,000 30,000 10,000 10,000 10,000 3,500 3,500 15,000 3,400 8,000 Flowers/Plants 7,000 0 0 0 3,500 0 0 0 0 3,500 0 0 0 Gas & Oils 68,400 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 5,700 Golf Course Accessories 16,000 0 0 0 14,000 0 0 0 0 2,000 0 0 0 Chemicals & Pesticides 46,500 14,000 500 8,000 8,000 2,000 0 0 3,000 0 3,000 3,000 5,000 POA Control 20,000 0 0 0 0 0 10,000 0 10,000 0 0 0 0 Sand/Mulch/Bunker 13,500 0 0 0 6,000 2,500 5,000 0 0 0 0 0 0 Seed 190,500 0 0 0 185,000 5,500 0 0 0 0 0 0 0 Small Tools 6,000 500 500 500 500 500 500 500 500 500 500 500 500 Sod 15,500 7,500 2,500 1,000 0 0 0 0 0 0 0 0 4,500 Topdressing 19,000 3,000 0 3,000 0 0 0 0 0 0 0 3,000 10,000 TOTAL SUPPLIES AND MATERIALS 514,200 36,700 12,600 27,200 252,700 26,200 31,200 16,200 22,700 15,200 24,200 15,600 33,700 REPAIRS AND MAINTENANCE Buildings & Bridges 5,550 1,250 750 550 500 500 500 250 250 250 250 250 250 Equipment 38,500 2,000 2,500 3,000 10,000 5,000 2,000 2,500 2,500 2,000 2,000 2,500 2,500 Irrigation System 19,050 4,400 3,500 1,500 2,000 900 550 1,200 1,000 1,000 1,000 1,000 1,000 Pumps 10,500 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 500 0 Lake Maint Contract 61,716 5,143 5,143 5,143 5,143 5,143 5,143 5,143 5,143 5,143 5,143 5,143 5,143 Trees 14,050 0 0 5,500 550 0 0 0 0 4,000 4,000 0 0 TOTAL REPAIRS AND MAINTENANCE 149,366 13,793 12,893 16,693 19,193 12,543 9,193 10,093 9,893 13,393 13,393 9,393 8,893 664 2023-2024 ANNUAL PLAN SilverRock Resort RUN DATE: 01-Jun-23 10:49 AM Projections - July 2023 to June 2024 PREPARED BY: Lsnamerk Golf Management MAINTENANCE DEPARTMENT -63 1 TOTAL I JUL. I AUG. I SEP. I OCT. NOV. DEC. I JAN. I FEB. I MAR. I APR. I MAY I JUN. OTHER EXPENSES Contract Services Soil/Tissue Tests Dues and Subscriptions Employee Education Equipment Rental Auto Expense Licenses and Permits Miscellaneous Supplies Propane/Natural Gas Safety Equipment & Training Telephone/DSL Waste/Trash Removal Uniforms & Linen/Towels TOTAL OTHER EXPENSES TOTAL MAINTENANCE EXP. (EXCL Landscaping) LANDSCAPE Wages Landscape Wages & Benefits Small Tools Repairs & Maintenance - Drip Irrigation Uniforms TOTAL LANDSCAPE MAINTENANCE COURSE & LANDSCAPE MAINTENANCE TOTAL (EXCL UTILITIES) WATER & ELECTRICITY COSTS Water Cost Electricity Cost TOTAL WATER AND ELECTRIC COST TOTAL COURSE MAINTENANCE EXPENSES 2,000 0 0 1,000 0 0 0 0 0 0 0 1,000 0 680 0 0 0 0 0 0 0 200 0 380 0 100 3,900 50 50 50 50 50 50 50 1,000 2,400 50 50 50 3,400 200 150 150 1,000 600 200 200 200 200 200 200 100 4,800 400 400 400 400 400 400 400 400 400 400 400 400 4,300 100 0 0 250 0 50 0 0 1,000 2,900 0 0 1,200 100 100 100 100 100 100 100 100 100 100 100 100 4,350 750 750 750 500 500 500 100 100 100 100 100 100 180 15 15 15 15 15 15 15 15 15 15 15 15 3,850 200 100 750 800 500 400 400 200 200 100 100 100 10,200 850 850 850 850 850 850 850 850 850 850 850 850 6,288 524 524 524 524 524 524 524 524 524 524 524 524 11,040 920 920 920 920 920 920 920 920 920 920 920 920 56,188 4,109 3,859 5,509 5,409 4,459 4,009 3,559 4,509 6,709 6,539 4,259 3,259 1,842,753 128,949 108,246 136,822 387,769 137,803 140,606 126,056 136,161 134,265 143,199 123,862 139,017 4,500 150,000 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 150,000 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 1,025 100 100 100 100 100 75 75 75 75 75 75 75 4,250 250 250 500 500 500 500 250 250 250 250 250 500 3,480 290 290 290 290 290 290 290 290 290 290 290 290 158,755 13,140 13,140 13,390 13,390 13,390 13,365 13,115 13,115 13,115 13,115 13,115 13,365 2,001,508 142,089 121,386 150,212 401,159 151,193 153,971 139,171 149,276 147,380 156,314 136,977 152,382 115,484 10,150 9,150 10,400 11,200 16,000 5,305 7,200 6,120 7,150 10,120 13,250 9,439 166,940 14,100 14,210 14,210 14,210 12,000 14,210 14,100 14,100 14,100 14,100 13,500 14,100 282,424 24,250 23,360 24,610 25,410 28,000 19,515 21,300 20,220 21,250 24,220 26,750 23,539 2,283,932 166,339 144,746 174,822 426,569 179,193 173,486 160,471 169,496 168,630 180,534 163,727 175,921 665 2023-2024 ANNUAL PLAN SilverRock Resort RUN DATE: 01-J -23 10:14 %N1 Projections - July 2023 to June 2024 PREPARED BY. Lar.,,11 o G & A DEPARTMENT - 67 TOTAL JUL. I AUG. I SEP. I OCT. I NOV. I DEC. I JAN. I FEB. I MAR. I APR. j MAY JUN. 9AEA-RIES AND BENEFITS Salaries and Wages 298,143 28,205 28,205 26,285 25,133 22,445 23,981 23,981 23,981 23,981 23,981 23,981 23,981 Payroll Taxes 29,069 2,750 2,750 2,563 2,450 2,188 2,338 2,338 2,338 2,338 2,338 2,338 2,338 Workers' Compensation 24,251 2,294 2,294 2,138 2,044 1,826 1,951 1,951 1,951 1,951 1,951 1,951 1,951 Health Insurance/Benefits 37,404 3,117 3,117 3,117 3,117 3,117 3,117 3,117 3,117 3,117 3,117 3,117 3,117 TOTAL SALARIES AND BENEFITS 388,867 , REPAIRS AND MAINTENANCE Equipment Repair 1,900 0 100 100 100 900 100 100 100 100 100 100 100 TOTAL REPAIRS AND MAINTENANCE 1,900 0 100 100 100 900 100 100 100 100 100 100 100 OTHER EXPENSES Office Supplies 1,260 105 105 105 105 105 105 105 105 105 105 105 105 Printing / Stationary 3,300 100 100 100 100 100 400 400 400 400 400 400 400 Postage 900 75 75 75 75 75 75 75 75 75 75 75 75 Recruiting / Relocation 1,200 0 0 150 150 150 200 150 200 200 0 0 0 Dues and Subscriptions 1,550 50 0 300 50 50 50 100 200 50 50 50 600 Freight / Delivery 600 50 50 50 50 50 50 50 50 50 50 50 50 Travel 1,100 0 100 0 0 0 0 0 100 0 200 500 200 Promotion 1,200 100 100 100 100 100 100 100 100 100 100 100 100 Auto Expense 6,000 500 500 500 500 500 500 500 500 500 500 500 500 Equipment Rental(Copier/Storage) 6,600 550 550 550 550 550 550 550 550 550 550 550 550 Uniforms 1,050 75 75 75 150 150 75 75 75 75 75 75 75 Professional Fees (I.T. & Safety Fees) 28,000 1,500 1,500 1,500 2,500 2,500 3,500 3,500 3,500 3,500 1,500 1,500 1,500 Seminars / Training 3,400 200 200 200 200 200 200 1,200 200 200 200 200 200 Payroll Processing 12,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Computer Supplies(POS Support Fees) 6,300 500 500 500 500 500 500 500 500 500 500 500 800 Bank & ADP Fees 1,080 90 90 90 90 90 90 90 90 90 90 90 90 Miscellaneous 6,000 100 100 100 100 1,000 4,000 100 100 100 100 100 100 TOTAL OTHER EXPENSES 81,540 4,995 5,045 5,395 6,220 7,120 11,395 8,495 7,745 7,495 5,495 5,795 6,345 TOTAL G & A EXPENSES 472,307 41,362 41,512 39,598 39,065 37,596 42,882 39,982 39,232 38,982 36,982 37,282 37,832 Uniforms- Benefit to be shared between GM & Controller Entertainment & Promotion - GM promoting property for potential clients •M 2023-2024 ANNUAL PLAN SilverRock Resort MARKETING O1-Jun-23 10:14 AM Projections - July 2023 to June 2024 PREPARED BY: Landmark Golf Management MARKETING DEPARTMENT -66 TOTAL JUL. I AUG. I SEP. I OCT. I NOV. I DEC. JAN. I FEB. I MAR. I APR. I MAY I JUN. SALARIES AND BENEFITS Salaries and Wages 15,000 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 Payroll Taxes 1,463 122 122 122 122 122 122 122 122 122 122 122 122 Workers' Compensation 1,220 102 102 102 102 102 102 102 102 102 102 102 102 Health Insurance/Benefits 2,709 0 0 0 0 0 387 387 387 387 387 387 387 TOTAL SALARIES AND BENEFITS 20,392 1,474 1,474 1,474 1,474 1,474 1,861 1,861 1,861 1,861 1,861 1,861 1,861 OTHER EXPENSES Office Supplies Printing / Stationary Postage Contract Services Web Page Dues and Subscriptions Uniforms Telephone Civic, Community and Trade Show Public Relations Promotions / Meals Promotion - (Media, Vendor Days, etc) Advertising (Ad Purchases) Collateral Material - (Yrd Bks, Rack Cds, Statn, Brochures) Miscellaneous TOTAL OTHER EXPENSES TOTAL MARKETING EXPENSES 1,200 100 100 100 100 100 100 100 100 100 100 100 100 4,425 0 0 200 3,000 200 200 200 125 125 125 125 125 600 50 50 50 50 50 50 50 50 50 50 50 50 1,800 150 150 150 150 150 150 150 150 150 150 150 150 735 0 0 0 0 0 0 35 400 300 0 0 0 600 0 0 0 300 50 50 50 50 50 50 0 0 1,200 100 100 100 100 100 100 100 100 100 100 100 100 2,250 75 75 75 75 750 750 75 75 75 75 75 75 1,000 0 0 0 0 0 0 500 500 0 0 0 0 300 25 25 25 25 25 25 25 25 25 25 25 25 700 0 0 0 50 50 50 300 50 50 50 50 50 129,762 2,566 2,566 3,461 13,766 17,936 14,866 16,461 17,566 15,341 11,946 8,741 4,546 5,500 0 0 0 500 1,000 0 500 500 500 500 1,000 1,000 350 0 0 0 0 50 50 50 50 50 50 50 150,422 3,066 3,066 4,161 18,116 20,461 16,391 18,596 19,741 16,916 13,221 10,466 6,221 170,814 4,540 4,540 5,635 19,590 21,935 18,252 20,457 21,602 18,777 15,082 12,327 8,082 Promotion/Meals - Off property events (Chamber Mixers, Rotaries and entertaining potential clients) Promotion/Media/Vend or Days - Radio/TV Onsite Broadcasting. Vendor Days - Show casing property in exchange for positive publicity 667 2023-2024 ANNUAL PLAN SilverRock Resort MARKETING 01-Jnn-23 10:14AM Projections - July 2023 to June 2024 PREPARED BY. Landmark Golf Management TEMPORARY CLUBHOUSE -800 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. SUPPLIES AND MATERIALS Expendable Supplies 2,400 200 200 200 200 200 200 200 200 200 200 200 200 Laundry Supplies 2,400 200 200 200 200 200 200 200 200 200 200 200 200 TOTAL SUPPLIES AND MATERIALS 4,800 400 400 400 400 400 400 400 400 400 400 400 400 REPAIRS AND MAINTENANCE Building Structures 3,600 300 300 300 300 300 300 300 300 300 300 300 300 Restaurant Repairs 8,400 700 700 700 700 700 700 700 700 700 700 700 700 Equipment Repair 8,400 700 700 700 700 700 700 700 700 700 700 700 700 TOTAL REPAIRS AND MAINTENANCE 20,400 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 OTHER EXPENSES Contract Services Cleaning 34,200 2,850 2,850 2,850 2,850 2,850 2,850 2,850 2,850 2,850 2,850 2,850 2,850 Telephone 21,000 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 Cable -Roadrunner 4,560 380 380 380 380 380 380 380 380 380 380 380 380 Water 3,852 321 321 321 321 321 321 321 321 321 321 321 321 Safety Equipment 1,200 100 100 100 100 100 100 100 100 100 100 100 100 Propane Gas 12,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Flowers and Decorations 1,900 0 0 0 500 0 0 500 0 500 0 0 400 Building Security (Roving Patrol) 81,600 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 Miscellaneous 0 0 0 0 0 0 0 0 0 0 0 0 0 TOTAL OTHER EXPENSES 160,312 13,201 13,201 13,201 13,701 13,201 13,201 13,701 13,201 13,701 13,201 13,201 13,601 TOTAL CLUBHOUSE EXPENSES 185,512 15,301 15,301 15,301 15,801 15,301 15,301 15,801 15,301 15,801 15,301 15,301 15,701 Expendable Supplies made up of: Locksmith, Trashbags, Lightbulbs, Mats, Items related to Maintenance of Clubhouse •E 2023-2024 ANNUAL PLAN SilverRock Resort Projections - July 2023 to June 2024 RUN DATE: 01-Jun-23 10:14 AM PREPARED BY: Landmark Golf Management MISC. DEPARTMENT - 980 & 990 TOTAL JUL. AUG. SEP. OCT. NOV. I DEC. I JAN. I FEB. I MAR. I APR. I MAY I JUN. MISC OTHER EXPENSES Management Fee - Fixed 130,704 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 10,892 FF&E Reserve (2.0%) 81,865 1,789 1,692 3,313 278 10,930 8,893 9,619 12,215 14,329 9,762 6,274 2,772 General Liability Insurance 107,000 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 8,917 Personal Property Taxes 11,800 5,200 0 4,000 2,600 0 0 0 0 0 0 0 0 331,369 26,798 21,501 27,122 22,687 30,738 28,701 29,428 32,023 34,138 29,571 26,082 22,580 LEASE EXPENSES Golf Cart Leases 154,344 10,586 10,586 10,586 10,586 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 Trailer Leases 0 0 0 0 0 0 0 0 0 0 0 0 Golf Course Maintenance Lease 217,800 18,150 18,150 18,150 18,150 18,150 18,150 18,150 18,150 18,150 18,150 18,150 18,150 GPS Lease (Up -Link) 33,000 2,750 2,750 2,750 2,750 2,750 2,750 2,750 2,750 2,750 2,750 2,750 2,750 Equipment Rental Other 20,200 1,150 1,150 1,150 1,150 1,950 1,950 1,950 1,950 1,950 1,950 1,950 1,950 425,344 32,636 32,636 32,636 32,636 36,850 36,850 36,850 36,850 36,850 36,850 36,850 36,850 6/2/2023 20 2023.2024 Annual Budget 2023-2024 Annual Budget RUN DATE: 01-Jun-23 01:59 PM PREPARED BY: Landmark Golf Management FOOD & BEVERAGE DEPT - 62 TOTAL I JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. FOOD REVENUE TOTAL NUMBER OF ROUNDS 44,125 1,850 1,750 2,400 200 5,400 4,610 4,800 5,200 6,100 5,215 4,300 2,300 GRILL ROOMITERRACE AVERAGE FOOD REVENUE PER ROUND $5.63 $5.00 $3.50 $2.00 $2.50 $5.50 $7.00 $7.00 $7.50 $7.00 $7.00 $5.50 $8.00 TOTAL SNACK SHOP FOOD REVENUE 276,500 9,250 6,125 4,800 500 29,700 32,270 33,600 39,000 42,700 36,505 23,650 18,400 BEVERAGE CARTS AVERAGE FOOD REVENUE PER ROUND $0.77 $1.00 $0.50 $0.50 $1.00 $1.00 $1.00 $0.50 $0.75 $0.50 $0.75 $0.75 $1.00 TOTAL BEVERAGE CART FOOD REVENUE 32,921 1,850 875 1,200 200 5,400 4,610 2,400 3,900 3,050 3,911 3,225 2,300 AVERAGE FOOD $ PER ROUND $6.40 $6.00 $4.00 $5.00 $3.50 $7.00 $7.00 $7.50 $8.25 $7.50 $6.50 $6.25 $9.00 BEVERAGE REVENUE TOTAL NUMBER OF ROUNDS 44,125 1,850 1,750 2,400 200 5,400 4,610 4,800 5,200 6,100 5,215 4,300 2,300 GRILL ROOM/TERRACE WERAGE BEVERAGE REVENUE PER ROUN[ $3.38 $2.50 $1.50 $1.50 $1.50 $4.00 $4.50 $4.50 $5.00 $5.00 $4.00 $4.50 $2.00 TOTAL SNACK SHOP BEVERAGE REVENUE 176,405 4,625 2,625 3,600 300 21,600 20,745 21,600 26,000 30,500 20,860 19,350 4,600 BEVERAGE CARTS WERAGE BEVERAGE REVENUE PER ROUN[ $3.83 $3.25 $4.00 $3.50 $2.50 $4.00 $4.00 $4.00 $5.50 $5.25 $4.00 $3.75 $2.25 OTAL BEVERAGE CART BEVERAGE REVENI 183,938 6,013 7,000 8,400 500 21,600 18,440 19,200 28,600 32,025 20,860 16,125 5,175 AVERAGE BEVERAGE $ PER ROUND $5.75 $5.50 $5.00 $4.00 $8.00 $8.50 $6.00 $10.50 $10.25 $8.00 $8.25 $4.25 FOOD REVENUE Snack Shop/Terrace Food $ 276,500 $ 9,250 $ 6,125 $ 4,800 $ 500 $ 29,700 $ 32,270 $ 33,600 $ 39,000 $ 42,700 $ 36,505 $ 23,650 $ 18,400 Beverage Cart Food $ 32,921 $ 1,850 $ 875 $ 1,200 $ 200 $ 5,400 $ 4,610 $ 2,400 $ 3,900 $ 3,050 $ 3,911 $ 3,225 $ 2,300 Other Food Income $ - $ - $ - $ - $ - $ - $ - Non -Taxable Tournament Site Fees $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Special Events $ 9,000 $ - $ - $ - $ 3,000 $ - $ - $ - $ - $ 3,000 $ 3,000 $ - TOTAL FOOD REVENUE $ 318,421 $ 11,100 $ 7,000 $ 6,000 $ 700 $ 38,100 $ 36,880 $ 36,000 $ 42,900 $ 45,750 $ 43,416 $ 29,875 $ 20,700 BEVERAGE REVENUE Snack Shop/Terrace Beer & Wine $ 130,266 $ 3,700 $ 2,363 $ 2,880 $ 180 $ 17,280 $ 14,522 $ 19,440 $ 18,200 $ 21,350 $ 14,602 $ 11,610 $ 4,140 Snack Shop/Terrace Sodas $ 36,919 $ 1,850 $ 788 $ 1,080 $ 120 $ 6,480 $ 4,149 $ 4,320 $ 5,200 $ 3,050 $ 4,172 $ 3,870 $ 1,840 Beverage Cart Beer & Wine $ 199,380 $ 5,411 $ 4,900 $ 6,720 $ 250 $ 23,760 $ 20,284 $ 21,120 $ 28,600 $ 35,228 $ 31,290 $ 16,125 $ 5,693 Beverage Cart Sodas $ 25,113 $ 601 $ 700 $ 4,200 $ 250 $ 2,160 $ 1,844 $ 1,152 $ 2,860 $ 3,203 $ 4,172 $ 2,419 $ 1,553 TOTAL BEVERAGE REVENUE $ 391,678 $ 11,563 $ 8,750 $ 14,880 $ 800 $ 49,680 $ 40,799 $ 46,032 $ 54,860 $ 62,830 $ 54,236 $ 34,024 $ 13,225 TOTAL FOOD & BEVERAGE REVENUE $ 710,099 $ 22,663 $ 15,750 $ 20,880 $ 1,500 $ 87,780 $ 77,679 $ 82,032 $ 97,760 $ 108,580 $ 97,652 $ 63,899 $ 33,925 LESS COST OF SALES TOTAL COST OF SALES $ 218,834 $ 8,331 $ 6,317 $ 7,396 $ 2,335 $ 25,314 $ 23,984 $ 24,746 $ 29,187 $ 31,814 $ 28,173 $ 18,972 $ 12,265 GROSS PROFIT $ 491,265 $ 14,331 $ 9,433 $ 13,484 $ (835) $ 62,466 $ 53,694 $ 57,286 $ 68,573 $ 76,766 $ 69,479 $ 44,927 $ 21,660 SALARIES AND BENEFITS Salaries and Wages $ 329,598 $ 18,178 $ 18,178 $ 19,403 $ 7,962 $ 26,651 $ 39,875 $ 40,183 $ 40,183 $ 40,183 $ 34,011 $ 23,310 $ 21,482 Payroll Taxes $ 36,256 $ 2,000 $ 2,000 $ 2,134 $ 876 $ 2,932 $ 4,386 $ 4,420 $ 4,420 $ 4,420 $ 3,741 $ 2,564 $ 2,363 Workers' Compensation $ 16,150 $ 891 $ 891 $ 951 $ 390 $ 1,306 $ 1,954 $ 1,969 $ 1,969 $ 1,969 $ 1,667 $ 1,142 $ 1,053 Health Insurance $ 46,692 $ 3,891 $ 3,891 $ 3,891 $ 3,891 $ 3,891 $ 3,891 $ 3,891 $ 3,891 $ 3,891 $ 3,891 $ 3,891 $ 3,891 TOTAL SALARIES AND BENEFITS $ 428,696 $ 24,959 $ 24,959 $ 26,379 $ 13,119 $ 34,780 $ 50,107 $ 50,463 $ 50,463 $ 50,463 $ 43,310 $ 30,907 $ 28,788 SUPPLIES AND MATERIALS Expendable Supplies $ 4,280 $ 300 $ 300 $ 300 $ 580 $ 200 $ 400 $ 400 $ 400 $ 400 $ 400 $ 300 $ 300 Bar Utensils $ 1,250 $ 150 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 Menus, Napkins and Placemats $ 3,825 $ 175 $ 175 $ 175 $ 500 $ 250 $ 250 $ 550 $ 350 $ 350 $ 350 $ 350 $ 350 TOTAL SUPPLIES AND MATERIALS $ 9,355 $ 625 $ 575 $ 575 $ 1,180 $ 550 $ 750 $ 1,050 $ 850 $ 850 $ 850 $ 750 $ 750 Equipment Repair TOTAL REPAIRS AND MAINTENANCE OTHER EXPENSES Office Supplies Phone Equipment Rental Natural Gas - Propane Non -Capital Equipment Uniforms Laundry and Linen Bank Fees Seminars / Training Cleaning Supplies Flowers and Decorations Licenses and Permits Miscellaneous TOTAL OTHER EXPENSES $ 5,900 $ 400 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 5,900 $ 400 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 1,500 $ 100 $ 100 $ 100 $ 250 $ 250 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 857 $ 71 $ 71 $ 71 $ 71 $ 71 $ 71 $ 71 $ 76 $ 71 $ 71 $ 71 $ 71 $ 1,285 $ 109 $ 109 $ 109 $ 95 $ 109 $ 100 $ 109 $ 109 $ 109 $ 109 $ 109 $ 109 $ 6,000 $ 1,000 $ - $ 11000 $ - $ 1,000 $ - $ 1,000 $ - $ 1,000 $ - $ 1,000 $ - $ 600 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 50 $ 3,600 $ 150 $ 150 $ 150 $ 1,200 $ 150 $ 500 $ 150 $ 150 $ 150 $ 550 $ 150 $ 150 $ 8,600 $ 900 $ 700 $ 700 $ 700 $ 700 $ 700 $ 700 $ 700 $ 700 $ 700 $ 700 $ 700 $ 10,950 $ 750 $ 750 $ 950 $ 650 $ 1,050 $ 1,075 $ 1,075 $ 1,050 $ 1,050 $ 1,050 $ 750 $ 750 $ 250 $ 50 $ 25 $ 25 $ 25 $ - $ - $ - $ 25 $ 25 $ 25 $ 25 $ 25 $ 3,500 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 250 $ 350 $ 350 $ 350 $ 350 $ 350 $ 2,604 $ 100 $ 100 $ 100 $ 204 $ 300 $ 300 $ 300 $ 250 $ 250 $ 300 $ 200 $ 200 $ 1,800 $ - $ 900 $ - $ - $ - $ - $ 900 $ - $ - $ - $ - $ 6,200 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 600 $ 600 $ 500 $ 500 $ 500 $ 47,746 $ 4,030 $ 3,705 $ 4,005 $ 3,995 $ 4,430 $ 3,646 $ 5,205 $ 3,460 $ 4,455 $ 3,805 $ 4,005 $ 3,005 TOTALEXPENSES TOTAL FOOD & BEVERAGE PROFIT (Loss) $ 491,697 $ 30,014 $ 29,739 $ 31,459 $ 18,794 $ 40,260 $ 55,003 $ 57,218 $ 55,273 $ 56,268 $ 48,465 $ 36,162 $ 33,043 $ (432) $ (15,683) $(20,306) $(17,975) ####### $ 22,206 $ (1,308) $ 69 $ 13,300 $ 20,498 $ 21,014 $ 8,765 $(11,383) 670 SilverRock Resort 2023-2024 Marketing Plan Narrative OBJECTIVE: Continue to expand brand awareness for SilverRock Resort, promote the Arnold Palmer Classic Course as a premier golf course in the Coachella Valley and increase golf and golf -related revenues. In light of intensive ongoing construction in and around the golf course with two luxury hotels, spa, convention center, permanent clubhouse and private residences, it will be imperative to continually market SilverRock in a positive light during the construction phases of the development. The 2023-2024 Marketing Plan is built around a slightly scaled back Marketing Budget of $170,996. The total Marketing Plan includes: reduced print advertising, TV, digital marketing, social media, collateral materials, partial tournament coordinator salary, public relations, supplies, internet websites and email marketing. Actual advertising budget will total $129,762 annually. PRINT ADVERTISING This year, a reduction in print advertising will be evident but SilverRock will still have presence in a few staple magazines both locally and regionally. These publications will target the Coachella Valley Residents and tourist/resort golfers in local, regional and Southern California golf and travel publications. Print advertising consists of golf and travel magazines and regional directories. All print advertising now includes a digital component that is included in each buy. TV & RADIO Television commercials (30 seconds) are placed on some local network affiliates. There is no plan for a new commercial to be created until the rebranding of the golf course occurs. For this fiscal year, there is no Local radio ads planned in the advertising budget. IN ROOM MEDIA In conjunction with the Travelers Channel, currently the SilverRock commercial is showcased in 18 local hotels representing over 3,500 hotel rooms throughout the Coachella Valley. The Travelers Channel operates in each hotel, and becomes the hotels local in roorr concierge. The Travelers Channel primary goal is to visually promote the local area, points of interest, history, services, restaurants, shopping, and to help visitors enjoy their stay. DIGITAL MARKETING The marketing plan includes website display banners through the geo target channels like ESPN LA, Golf Channel.com, PGA.com, SCGA.com, and anyone searching keywords such as Golf, Best Golf Courses, Tee Times in Greater Palm Springs/La Quinta producing 10 million impressions. Included in this 2023-2024 Marketing Plan is an ongoing partnership to continue a strong presence in the digital marketing sector. 671 SOCIAL MEDIA Working in partnership with Golf Now, social media has proven to be a very successful, powerful and cost effective method of promoting SilverRock. There will be a continued effort and focus on social media including enhancing SilverRock's Facebook "fan base" which has generated nearly 20,000 likes and has been very effective way of communicating SilverRock's news and information. Increased presence on Instagram will continue this year with short beauty video clips of the golf course. ONLINE REVIEWS / REPUTATION MANAGEMENT / WORD OF MOUTH Online reviews for SilverRock provides a great feedback tool for management but also extremely helpful for consumers when deciding what course to play for their next trip. Any review on Google, Yelp or Golf Pass (powered by Golf Now) are acknowledged and responded to within 48 hours of a review or post. It is critical maintain its reputation during and throughout the construction phases of the development at SilverRock. CONTENT EMAIL MARKETING Working in collaboration with several magazines, a continued effort will be implemented to utilize content email marketing as a strategic component of this year's marketing plan. This helps to engage and inform subscribers to be used to promote the course for both golf and food and beverage. WEBSITE & ONLINE BOOKINGS With the advent of Covid, the majority of all tee times are booked online and prepaid upon booking; a continued emphasis on the mobile website-booking interface that allows visitors to navigate SilverRock's website more efficiently and effectively will again be a priority for 2023-2024. The SilverRock website is a responsive website which allows any user with a PC, tablet or mobile phone to navigate the SilverRock website. Customers now have the ability to purchase digital gift cards through the SilverRock.org website. In addition, the SilverRock Grill menu for breakfast and lunch are displayed on the SilverRock website. SilverRock also offers a free App (available on both Droid and iPhones) which also allows golfers to book tee times instantly through the App with no booking fees. JUNIOR GOLF SilverRock will continue to support local Junior Golf by offering Junior Lessons, Junior Rates and being a host course for the La Quinta High School Boys and Girls Golf Teams. SilverRock will also continue to participate in SCGA's Youth on Course program which will provide juniors in Southern California another avenue to have access to golf courses at affordable green fees. COLLATERAL MATERIALS Rack cards, scorecards, and information packets presenting SilverRock Resort are used as marketing tools for SilverRock Resort. Printed material will be produced, as needed, to promote SilverRock Resort as a former Home Course of the Bob Hope Classic 2008-2011. 672