The American Club 2020/2021 Annual Report

25 PAGE

TOTAL INCOME (OPERATING FUND)

100%

3% 7%

7% 3%

10%

90%

4%

5%

9%

9%

80%

10%

11%

6%

7%

70%

Club Services

60%

34%

Fitness & Leisure

50%

35%

37%

Food & Beverage

40%

Jackpot Room

30%

Membership

20%

31%

29%

27%

Youth & Bowling

10%

Other Income

0%

FY2021

FY2020

FY2019

Membership

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

364 4,983 0

455 7,710 156

Number of new Membership Entrance Fee ($’000) Redevelopment Payments ($’000)

309 4,230 1,422

337 3,225 12,005

422 4,132 29,917

259 2,855 17,509

365 4,618 1,994

As at end

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

101, 1 1 3 3,569

28,416 3,398

Total Reserves ($’000) No. of Closing Memberships

100,513 3,440

85,626 3,314

54,826 3,325

29,385 3,276

22,753 3,316

Upon the completion of the redevelopment and the opening of full Club facilities, the Club received strong interest from the potential members, attracting a total of 455 new members in FY2021. This total is 90 more than the 365 new Members who joined in FY2020 and 91 more than those who joined in FY2015, pre-redevelopment. This significantly higher number of new Members helped to generate entrance fees of $5.24 million in FY2021, an increase of 13% over FY2020 entrance fees of $4.62 million. The Associate Family Transfer promotion launched in March 2021 successfully converted 38 Members with entrance fees of $2.47 million, bringing total entrance fees of $7.71 million in FY2021.

THE AMERICAN CLUB SINGAPORE