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September 01, 2015 11:15 PM ET

Hotels, Restaurants and Leisure

Company Overview of ClubCorp Holdings, Inc.

Company Overview

ClubCorp Holdings, Inc., a membership-based leisure company, owns and operates golf, country, business, sports, and alumni clubs in North America. It operates in two segments, Golf and Country Clubs; and Business, Sports, and Alumni Clubs. The Golf and Country Clubs segment operates private country clubs that provide 18-hole golf course and various other recreational amenities for members and their guests; golf clubs, which offer private and public golf play, and other recreational amenities; and public golf facilities. The Business, Sports, and Alumni Clubs segment operates business clubs that provide a setting for dining, business, or social entertainment for business executives, professio...

3030 LBJ Freeway

Suite 600

Dallas, TX 75234

United States

Founded in 1957

16,900 Employees

Phone:

972-243-6191

Key Executives for ClubCorp Holdings, Inc.

Chief Executive Officer, President and Director
Age: 57
Total Annual Compensation: $927.7K
Chief Financial Officer and Treasurer
Age: 48
Total Annual Compensation: $479.8K
Chief Operating Officer
Age: 50
Total Annual Compensation: $588.9K
Executive Vice President of People Strategy, General Counsel and Secretary
Age: 54
Total Annual Compensation: $421.3K
Executive Vice President of Sales & Revenue
Age: 53
Total Annual Compensation: $411.2K
Compensation as of Fiscal Year 2014.

ClubCorp Holdings, Inc. Key Developments

ClubCorp Holdings, Inc. Announces Board Changes

ClubCorp Holdings, Inc. announced that Eric C. Resnick resigned from his position as a member of board of directors. Mr. Resnick's letter of resignation stated that it would become effective upon the selection of a replacement candidate by the Nominating and Corporate Governance Committee of its board of directors. Mr. Resnick's resignation is not due to any disagreements with on any of operations, policies or practices. On August 4, 2015, Louis J. Grabowsky was selected by the Nominating and Corporate Governance Committee and appointed to board of directors as a Class II director to fill the vacancy created by Mr. Resnick's resignation. By virtue of the selection and appointment of Mr. Grabowsky on August 4, 2015, the resignation of Mr. Resnick became effective on the same date.

Business, Sports and Alumni Clubs Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 16, 2015

Business, Sports and Alumni Clubs reported unaudited earnings results for the second quarter and six months ended June 16, 2015. For the quarter, the company reported revenue of $46,035,000, adjusted EBITDA of $9,250,000 against revenue of $42,630,000, adjusted EBITDA of $8,190,000 for the same period a year ago. For the six months, the company reported revenue of $87,082,000, adjusted EBITDA of $16,798,000 against revenue of $81,036,000, adjusted EBITDA of $14,591,000 for the same period a year ago.

ClubCorp Holdings, Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 16, 2015; Reaffirms Earning Guidance for the Fiscal Year 2015; Reports Impairment of Assets for the Second Quarter of 2015

ClubCorp Holdings, Inc. announced unaudited consolidated earnings results for second quarter and six months ended June 16, 2015. For the quarter, the company reported total revenues of $263,747,000, operating income of $17,180,000, income from continuing operations before income taxes of $2,489,000, loss from continuing operations of $222,000, net loss attributable to company of $196,000, adjusted EBITDA of $60,219,000 compared to total revenues of $211,418,000, operating income of $21,541,000, loss from continuing operations before income taxes of $25,442,000, loss from continuing operations of $17,476,000, net loss attributable to company of $17,613,000, adjusted EBITDA of $49,741,000 for the same quarter a year ago. For the six months period, the company reported total revenues of $465,819,000, operating income of $24,036,000, loss from continuing operations before income taxes of $6,702,000, loss from continuing operations of $4,497,000, net loss attributable to company of $4,418,000, net cash provided by operating activities of $63,472,000, purchase of property and equipment of $50,949,000, adjusted EBITDA of $99,243,000 compared to the total revenues of $377,141,000, operating income of $32,533,000, loss from continuing operations before income taxes of $30,094,000, loss from continuing operations of $21,264,000, net loss attributable to company of $21,339,000, net cash provided by operating activities of $50,881,000, purchase of property and equipment of $35,459,000, adjusted EBITDA of $81,703,000 for the same period a year ago. For fiscal year 2015, the company is reaffirming its outlook to deliver revenue in the range of $1.03 billion to $1.06 billion and adjusted EBITDA in the range of $230.0 million to $240.0 million. The current outlook implies year-over-year revenue growth of 16-20% and year-over-year adjusted EBITDA growth of 17-22%. Capital expenditures for 2015 to be $24.1 million. For the second quarter of 2015, the company reported impairment of assets of $1,014,000 against $895,000 for the same period a year ago.

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March 23, 2015
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