Crestwood Country Club New Ownership

So the news over the winter was Joe Moniz buying Crestwood. Now there’s a nice article in the Projo with more details. When I was there in July on a weekday morning the staff was very professional and the course was beautiful. And empty. It didn’t seem like 300+ members to me.

It’s rarely publicly discussed what happens with assessments as clubs fail. A $4300 assessment on top of $5000 dues is bracing.

I extend my congratulations, however, on their success. No wonder the other clubs had a tough time with new members this year, because adding 100+ people would suck dry most of the market. The $4K offer they had this winter was clearly the best offer from Providence to New Bedford. Good to see that people respond to a great offer. There was probably a substantial base of former members who had never joined another club and was happy to give new management a chance. Assuming minimal leverage, Crestwood can now be considered a survivor of the great shakeout.

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