Global Edition

In times of distress

12.15am 20th April 2009 - Corporate

The ailing fortunes of the once buoyant golf industry have prompted specialist management company International Golf & Resort Management (IGRM) to expand its Performance Improvement and Business Turnaround division. Responding to the regular announcements of redundancies, receiverships and distressed sales, the company has set out to assist clubs that are struggling to survive.

The recent appointment of David Mortimer who has held senior executive positions in the hotel and hospitality industry during his 30 year career, most notably for Forte Plc and Compass, has been prompted by the siege of distress calls from golf clubs and resorts that have failed to avoid the pitfalls leading them into financial crisis.

Mortimer and his Performance Improvement and Business Turnaround team, bolstered by IGRM’s CEO Michael Longshaw – the man hailed as responsible for the restoring the fortunes of Brocket Hall – are experienced in reorganisation, rehabilitation and the restructuring of businesses.

IGRM has assisted distressed companies in the golf, hotel and real estate sectors in the UK and overseas by the reorganisation of their processes and rationalisation of operations to improve results.

“Golf clubs have been affected by the economic downturn largely because the growth in supply has not been matched by growth in demand for the game. This has been exacerbated by the fact that golf revenue is predicated upon disposable income, the lack of which is affecting many golfers. Furthermore, the new breed of luxury clubs has turned golf into an expensive pastime and golf and residential tourism has also been adversely affected. The reality is that many clubs face a perilous future,” commented Longshaw.

“We find solutions to the many challenges that cash strapped golf clubs are now facing. We begin by evaluating purchasing, payments and payroll to control and reduce costs,” said Mortimer, “Then, having determined the club’s immediate needs, we develop an action plan enabling us to manage the vital aspects of the business in order to maximise profitability and ensure its survival.”

International Golf & Resort Management

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