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KINDERGARTEN PROPOSAL 

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RESOLUTION 4

Approval of the Main Committee’s proposal for a kindergarten to renovate and operate part of the Club’s premises.

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CONTEXT

Due to a variety of factors, not least the impact of Covid-19, we find ourselves midway through 2021 in an extremely challenging position.

  • The Club has an outstanding loan of $2.5m that needs to be repaid.
     

  • We are experiencing higher than usual attrition rates within the membership, primarily due to an increase in repatriations.
     

  • Our membership acquisition is slowing due to a smaller target market and the safe distancing restrictions imposed on the Club.
     

  • Additional revenue streams such as the hotel, events, and activities have been negatively impacted by these restrictions.


At the same time, the Club wants to continue making improvements to its facilities and optimize all areas of the Club to the benefit of the membership.

  • Our ground-floor hotel rooms contribute minimal revenue and are in dire need of renovation.
     

  • The 2-story staff block, situated at the end of the instruction pool, is also in a state of disrepair and is a non-revenue-generating space.

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WHY A KINDERGARTEN?

  • Complements our Club demographic and position in the market as a family-friendly Club (we have 360+ children aged 0-6 years).
     

  • Provides long-term financial stability with revenue estimated at c.$2m over 10 years.
     

  • Provides a new source of members during a challenging period, which will renew with each annual intake.
     

  • Provides much-needed CAPEX investment (est $400K) by a third party, into tired and unused Club facilities.
     

  • Minimal impact on members current enjoyment of the Club;

    • Located in a quiet area of the Club.

    • Self-contained campus with soundproofed classrooms.

    • Separate entry/exit gate and dedicated drop-off zone.

    • Operating hours are midweek (Monday - Friday).
       

  • Adds value for existing members looking for kindergarten facilities;

    • Members receive discounted fees.

    • Members will be given waitlist priority.
       

  • Improves overall Club offering;

    • Work-Play-Childcare-Lifestyle.

    • Serves as a point of difference to competitors

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SELECTION PROCESS

The decision was made to appoint House on the Hill as the preferred partner, following a lengthy process:

  • A contractor was selected to do a feasibility study of the proposal and present the findings to the Main Committee.

  • A Statement of Intent was sent out to 31 local and international kindergartens.

  • Request for Proposals was sent to 5 who expressed an interest.

  • 3 were invited to make presentations to the Main Committee.

  • 2 were selected for final consideration.

  • House on the Hill was selected by the Main Committee on 15 June 2021.

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WHY HOUSE ON THE HILL?