The American Club 2021/2022 Annual Report

PAGE 7 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022

The Food & Beverage (F&B) team traversed the year with tenacity and creativity. The dining and retail outlets showed strong revenue turnaround with usage of 72% for FY2022. Together with The Gourmet Pantry, F&B generated a total revenue of $13.19 million, an improvement of 17% over $11.28 million in FY2021. In the face of changing safety restrictions, inflation, and a daunting manpower shortage, the team revived the Member’s love for the Club’s food by bringing back old favorites and álso created fresh revenue streams through new offerings. New revenue sources came from the introduction of Club-made gourmet products, private label wine, coffee and spirits as well as adapting to food trends like vegan and keto diets. Special events such as Bottle Market and hosting a guest chef from the US were remarkable contributors to the team’s success. Our approach to sustainability has also guided our strategic development and day-to-day operations. Through the adoption and implementation of green features such as electric vehicle charging stations, energy efficient technology, and improved maintenance to increase the lifespan of our equipment, the Club was able to achieve cost savings of $0.7M. CARING FOR OUR PEOPLE Our Team Members are our greatest asset and therefore, creating an environment where they will thrive is core to our culture. The Club upgraded its HR information system to a new mobile-friendly system called QuickHR. This investment alleviated pain points in the HR process and made applying for leaves, claims, rosters, and communication easily accessible to our Team Members wherever they may be. Caring for our TeamMembers’ physical and mental wellbeing is important. FY2022 saw the pilot

test of iSabel, an app that provides resources like video exercises, one-on-one therapy sessions and a hub of information to keep everyone healthy and happy. Among all the challenges, the tight labor market was the hardest to address. To augment the gap in manpower shortage, the Club built partnerships with education institutions to acquire interns under the Work-Study Program. VISTA OF THE FUTURE The journey ahead remains uncertain. Threats on a global and local level will be pervasive and ubiquitous. Having successfully steered the Club through the worst of the pandemic and now dealing with its after-effects while surpassing targets, preserving jobs, rekindling the Members’ affinity with the Club and keeping the Team Members’ morale along the way, I have great faith in our Management Team, Team Members, volunteers and partners that together, there is nothing that we cannot conquer. Finally, to our valued Club Members, thank you so much for supporting your Club so loyally through difficult times and giving us the opportunity to push through and exemplify great resilience. I look forward to working with each and every one of you as FY2023 unfolds.