a Letter From the President

Leo Chomiak President Board of Directors Dear Deering Bay Members, We are entering a very exciting time here at the Club. As many of you know, Fran Roach has been hired as the General Manager of Deering Bay. The Board of Directors is confident in Fran’s leadership abilities and we are very happy to have him here. We are fortunate to have Richard Mogensen staying with us for about two months as he assists with the completion of current projects and helps plan future projects around the Club. Again, we want to thank Richard for all he has done for the Club and its membership over the past several months as Interim General Manager.

We are very excited to announce that we have hired a new Director of Food and Beverage, Anacelis Torres, as well as a new Executive Chef, Surelys Figueroa. Both Anacelis and Surelys come to us highly regarded from private clubs and luxury hotels and will make great additions to the Food & Beverage Team here at Deering Bay. The Clubhouse Roof project is progressing very well. As most of you have seen, the roof has been torn off the Main Clubhouse and all the underlayments have been replaced. We are awaiting the delivery of the new S-Tiles to finish off the roof which should be in the next couple of weeks. Following the Clubhouse Roofing project we will begin the same process on the Security Entrance/Golf Course Maintenance building. We will keep you advised of our schedules.

We have just installed 90% of the new Fitness Equipment. We are working on getting a Certificate of Occupancy from the City of Coral Gables and after a few electrical requirements we should be completed by early next week. We will announce the opening date within the next few days. The Junior Center construction has been completed. We are awaiting a few outstanding pieces of equipment to finish up the project and target the facility open. Staff is working on programs and we will have more information for all of you next week to announce the opening and the programs available. The 19th Hole Project Permit is still awaiting the final City of Coral Gables approval. This process has been arduous for over a year now and our team has submitted everything requested by them. We are hopeful to have the Final Permit Approval this week or next, so we can break ground by April 1, 2022. The project unfortunately will not be completed until late 2022 now, due to the City requirement delays and supply chain challenges we are all experiencing.

In January, the Club fell short of budgeted revenue as a result of rescheduled events due to COVID as well as the delayed opening of the new restaurant. Despite the revenue miss, the Club did an excellent job of controlling expenses as we generated both positive gross operating profit and net income to start the new calendar year. Membership growth continues to be strong, and while the Club experienced the expected attrition that normally comes in January, we are forecasting a strong rebound in the coming months. In other news, some much needed changes are coming to the Driving Range. We are in the process of planning to install taller nets to prevent range balls from flying onto holes surrounding the Driving Range. We will also be installing Covershots to provide shade and protection from rain. Outdoor fans will also be installed to stay cool on hot days. In an effort to provide more space, we will be installing a smaller hitting platform that will be used for private instruction. This first week of March, we had two Trackman machines delivered, which Director of Golf Craig Corcoran and his team are currently making themselves experts on these machines, so stay tuned for the official rollout of the Trackman! Have a great month! Leo Chomiak President