The American Club 2022/2023 Annual Report

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MEMBERSHIP

MEMBERSHIP SUMMARY

Singapore remains to be a top expat destination in South East Asia and The American Club continued to capitalize on healthy expat arrivals for fiscal year 2023 (FY2023). Membership level grew from strength to strength despite the strong competition for the consumer dollar. In the face of global challenges like shortage of manpower, soaring prices, geopolitical tensions and layoffs, Management and Team Members worked harder to cope and have achieved remarkable success. 80% of Members are satisfied with their overall Club experience and 80% would recommend a friend to be a Member^. These results are up 4 points and 2 points respectively from the previous year. 88% are satisfied with our Team Members’ service, a true testament to the unparalleled hospitality born out of the One Team, One Club spirit.

At the end of FY2023, membership strength was at 3,558 with 450 new Members . Entrance Fees collected was $7.5 million, which includes revenue recognition of 15 Limited Release Associate Membership from FY2022.

TERM MEMBERSHIP WAITLIST The Member Referral Program has boosted the Club’s membership level, providing much needed replenishment into the capital reserves. The record- high demand for Term Membership^, largely brought about by Hong Kong expat arrivals, paved the way for the achievement of peak membership strength of 3,602 in February 2023. In order to preserve the world-class Member experience, the General Committee voted to create a waitlist for Term Membership, starting January 2023. This policy aims to regulate the enrollment of short-term Members, hence, maintaining a positive experience for both Members and employees. As of this writing, the waitlist remains open and this policy will be reviewed by the Membership Committee as it deems appropriate.

^Term Membership refers to the non-US, non- Canadian, non-Singaporean membership category that is subject to renewal on a yearly basis.

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2022 / 2023