Point-of-Sale Data — 8 Months — 8 Active Venues — $11.76M Total Revenue
Revenue breakdown by venue and month showing classic resort seasonality. September drives the majority of annual revenue as the peak season month, with August as a strong secondary period. December shows a notable holiday spending bump before the winter off-season trough.
Retail makes up the largest share of total revenue ($5.69M), with F&B contributing a significant portion ($2.57M). Daily revenue shows marked seasonal decline from the September peak through winter, with mid-week patterns strongest during peak season.
Revenue Quality Impact: 55.5% of revenue is Retail (memberships, green fees, gas, grocery, apparel) — not F&B. Revenue quality and applicable valuation multiples differ significantly by category. Retail margins and F&B margins have different tax treatment, labour intensity, and market comparables.
Daypart revenue reveals strong breakfast and lunch periods, with afternoon/dinner declining during the off-season. Friday-Saturday generates the highest combined revenue, with significant variation by venue.
Check count and operational metrics across all active venues. Eagle Course leads with the highest average check, while Market & Pantry is the highest-volume outlet with 33,976 checks but lowest average ($41.48) — consistent with convenience grocery. The venue performance table below provides the full breakdown.
| Venue | Revenue | Checks | Avg Check | Discounts | Disc % | Svc Charges | Voids |
|---|---|---|---|---|---|---|---|
| Eagle Course | $3,552,000 | 11,480 | $309.41 | $128,626 | 3.6% | $112,942 | $228,106 |
| Marina House | $2,724,000 | 4,260 | $639.44 | $21,030 | 0.8% | $794 | $326,346 |
| The Terrace | $2,186,000 | 12,440 | $175.72 | $101,286 | 4.9% | $410,848 | $124,282 |
| Shoreline Club | $1,022,000 | 5,240 | $195.04 | $25,786 | 3.2% | $153,084 | $27,712 |
| Concierge | $376,000 | 1,040 | $361.54 | $0 | 0.0% | $8,680 | $8,716 |
| Market & Pantry | $1,444,000 | 34,820 | $41.48 | $102,874 | 7.5% | $48 | $9,412 |
| The Dock | $328,000 | 6,950 | $47.19 | $226 | 0.1% | $38,890 | $4,722 |
| Activities | $126,000 | 1,890 | $66.67 | $356 | 0.4% | $0 | $5,712 |
| Item | Category | Revenue | Units | Avg Price | Days Sold |
|---|---|---|---|---|---|
| Lottery Terminal Sales | Lottery | $92,362 | 6,879 | $13.42 | 196 |
| Premium Ribeye | Meat | $8,446 | 128 | $65.98 | 66 |
| Premium Striploin | Meat | $8,146 | 163 | $49.98 | 77 |
Retail accounts for 48% of total revenue ($5.69M) across three distinct operations: Eagle Course ($3.30M — memberships, green fees, pro shop), Market & Pantry ($980K — grocery, prepared foods, dairy, meat, lottery), and Marina House ($818K — marina gas, marine retail, apparel). Each operates with fundamentally different unit economics, margin profiles, and seasonality patterns.
Food and beverage revenue drivers vary significantly by venue. Signature Steak dominates food revenue at $228K, while beer and house wine lead beverages.
Guest flow varies dramatically across venues, with Eagle Course and Shoreline Club showing the highest seasonality. Terrace maintains the most stable average check ($132-$228), making it the most reliable F&B indicator for valuation purposes. Resident vs visitor mix varies significantly by venue.
Check Size Analysis: Eagle Course and Shoreline Club show dramatic check size spikes in off-peak months due to event billing and green fee bundling flowing through POS. Terrace maintains the most stable F&B pricing ($132-$228 range), with consistent customer experience. The Dock operates at a lower price point ($24-$50) consistent with casual service. For financial valuation, Terrace's stability is the most reliable F&B indicator.
Same-SKU price comparison: Aug-Sep 2025 vs Jan-Jan 2026. Retail grocery prices are almost entirely flat — CPG is absorbing food-from-stores inflation (+4.5% CPI) rather than passing it through, creating margin pressure on the retail operation. F&B menu prices have increased selectively (+5-15% on most items), broadly in line with restaurant CPI (+11.8%), though with significant variance — kids menu items saw +23% increases while core mains (burgers, steak) moved only +0.3-4%.
Pricing Findings: Retail grocery exhibits remarkable pricing stability — branded staple products (soft drinks, water, eggs, milk, butter) have not moved at all, while premium frozen items show selective increases (+12–26%). F&B shows clear strategic differentiation: kids menu and premium items (Eggs Royale, Crispy Squid, Fresh Mozzarella) up +12-23%, while core comfort items (burgers, coffee) up only +0-1%. This reflects F&B's pricing power in a resort market, while retail operates under price-sensitive, comparison-shopping constraints.
Source: Like-for-like pricing: same SKU/item, summer avg vs winter avg from transaction data. CPI: national consumer price indices (latest available).
| Pricing Lever | Revenue Base | Current Pricing | Benchmark | Proposed Increase | Conservative ($) | Moderate ($) |
|---|---|---|---|---|---|---|
| Market & Pantry Retail (excl. Lottery, Tobacco) | $1,072,090 | Flat (0% LFL) | CPI Food: +4.5% | 2.4% / 3.6% | $25,730 | $38,594 |
| Beverage Alcohol (all venues) | $1,698,426 | +5–15% LFL | Restaurant CPI: +11.8% | 3% | $50,952 | $50,952 |
| Marina House Memberships/Storage | $1,609,886 | Not benchmarked | Limited alternatives, high switching costs | 3% | $48,296 | $48,296 |
| TOTAL | $4,380,402 | $124,980 | $137,844 |
Methodology: Market & Pantry retail revenue ($1,072K excl. regulated categories) has shown 0% like-for-like price change while national food CPI rose 4.8%. Market & Pantry serves a residential community (the resort serves a residential community with limited alternative retail options), supporting CPI passthrough. Conservative = 50% passthrough (2.4%), Moderate = 75% (3.6%). Beverage alcohol carries higher margin elasticity — 3% increase is below the +11.8% restaurant CPI benchmark. Marina House's marina operations serve a market with high switching costs and limited alternatives, supporting a 3% annual increase.
Margin impact: Pricing increases flow directly to gross margin with near-zero incremental cost. At typical resort F&B gross margins of 65–70%, the $104–58K revenue uplift translates to ~$60–35K in incremental gross profit.
All menu prices were set on early 2025 — no changes in 12+ months. Meanwhile, National data shows food purchased from table-service restaurants rose +11.2% nationally (YoY change), with the overall food CPI up +6.9%. CPG's 0% price movement against this backdrop represents significant margin erosion.
| Metric | YoY Change | Period | Source |
|---|---|---|---|
| Food purchased from restaurants (national) | +11.8% | YoY change | National CPI data |
| Table-service restaurants | +11.2% | YoY change | National CPI data |
| Fast food & take-out restaurants | +13.5% | YoY change | National CPI data |
| Food (overall, national) | +6.9% | YoY change | National CPI data |
| Food purchased from stores | +4.5% | YoY change | National CPI data |
| Fresh/frozen beef | +17.4% | YoY change | National CPI data |
| CPG menu price changes | 0% | YoY change | POS System |
F&B revenue per server per day (excluding retail, membership, green fees, and property services) reveals significant efficiency variation across venues and dayparts. Marina House is excluded — virtually zero F&B revenue ($4K on $2.02M total = 0.2%). This analysis focuses on pure F&B labour productivity for benchmarking and cost control.
| Venue | Morning | Lunch | Afternoon | Dinner |
|---|---|---|---|---|
| Shoreline Club | $3,478 | $834 | $408 | $1478 |
| Eagle Course | $150 | $844 | $404 | $676 |
| Terrace | $436 | $666 | $288 | $1376 |
| The Dock | — | $322 | $410 | $2,140 |
| Venue / Daypart | Trading Days | Rev/Day | Checks/Day | Action | Shifts Saved | Labour Saving | Revenue at Risk |
|---|---|---|---|---|---|---|---|
| Terrace — Morning | 67 | $1164 | 3.0 | Eliminate — fold into lunch prep | 67 | $12,856 | $0* |
| The Dock — Lunch | 50 | $560 | 14.2 | Eliminate — redirect to afternoon | 50 | $9,594 | $22,996 |
| Shoreline Club — Off-Peak Dinner | 15 | $8,758 | 30.4 | Reduce by 2 servers off-peak | 30 | $5,756 | $0 |
| Eagle Course — Off-Peak Afternoon | 60 | $5,812 | 15.5 | Reduce by 1 server Nov–Feb | 60 | $11,512 | $0 |
| TOTAL | 207 | $39,720 | $22,996 |
Net savings: $39,720 gross – $22,996 revenue at risk = $16,724 net. Total hours saved: 1,242 (207 shifts × 6 hours). *Terrace morning revenue ($64K total, 67 days) can likely be captured by extending lunch service 30 minutes earlier with existing lunch staff — no net revenue loss.
The Dock lunch decision: At $460/day and 14 checks, dedicated lunch service is unprofitable at $192/shift cost. However, $23.0K annual revenue at risk requires careful customer impact assessment. Alternative: merge lunch into a combined lunch-afternoon shift (11am–5pm) with a single server.
High-productivity benchmarks for comparison: Shoreline Club Morning runs at $7,294/day (41 checks), Eagle Course Lunch at $11,440/day (23 checks), Terrace Dinner at $5,472/day (19 checks). These dayparts are appropriately staffed.
Gratuities average 10.5% of net sales ($1,236K). Resort Account leads tender mix at $6.30M (49%), followed by Credit Card at $4.96M (39%) — reflecting a resort environment where guests charge to accounts.
Discounts and voids vary significantly by venue. Eagle Course and Marina House show elevated void rates (8.5% combined), while Market & Pantry discount rate runs double the group average due to resident discounts and spoilage write-offs.
Manager voids (deletions by management) vs regular voids reveal control differences across venues. Regular voids at industry norm (2-3%) suggest system errors; elevated manager voids may reflect POS methodology, spoilage/waste adjustments, or control weakness.
Market & Pantry Critical Finding: $2.84M in manager voids against $1,444K net sales (2.0× revenue). This requires immediate investigation. Possible explanations: (1) POS scan correction methodology in grocery/retail environment where items are scanned then corrected; (2) spoilage/waste write-off protocol; (3) significant control weakness or unauthorized discounting. Recommend control testing and transaction sample review during diligence.
Other Venues: Marina House and The Terrace show elevated manager voids relative to regular voids, consistent with venue-specific POS operational procedures. Eagle Course's manager void ratio is more balanced. Shoreline Club and The Dock show minimal void activity overall.
Eagle Course is positioned in the premium tier of the Northdale/Lakeview/Lakewood region at $290 (Mon-Thu) and $340 (weekends/holidays) including power cart. This sits below ultra-premium regional championship courses ($310-210) but above mid-market courses ($100-85). With $3.55M in annual revenue and an October spike likely driven by membership/retail transactions, the golf operation has distinct seasonal and pricing dynamics.
| Course | Location | Distance | Peak 18-Hole | Type | Source |
|---|---|---|---|---|---|
| Championship Course A | Westfield | ~35 min | $420 | Championship, public | — |
| Championship Course B | Westfield | ~35 min | $288 | Championship, public | — |
| Eagle Course at the resort (Weekend) | Lakeview | On-site | $340 | Premium resort | — |
| Eagle Course at the resort (Weekday) | Lakeview | On-site | $290 | Premium resort | — |
| Ridgewood G&CC | Millbrook | ~15 min | $170 incl. tax | Premium public | — |
| Valley Resort | Northdale | ~25 min | $158 | Resort | — |
| Hilltop GC | Clearwater | ~30 min | $130 incl. tax | Premium | — |
| Heritage Greens GC | Bay View | ~20 min | $110-65 | Semi-private | — |
| Timber Creek G&CC | Ferndale | ~20 min | $120-80 | Public 27-hole | — |
| Brookside GC | S. Northdale | ~10 min | $50-55 | Public (dynamic pricing) | — |
| Bay View Golf | Bay View | ~20 min | $90-50 | Budget public | — |
Each event day is compared to a baseline interpolated from its nearest non-event same-day-of-week neighbours, controlling for the seasonal revenue trajectory. This is more robust than simple period averages because it accounts for the steep seasonal decline (all-venue Saturday revenue drops from $76.2K in early October to $9.8K by mid-November).
| Event | Event Date | Event Revenue | Interpolated Baseline | Lift |
|---|---|---|---|---|
| Holiday Market | Late Nov (Sat) | $47,388 | $22,180 (adjacent non-event Saturdays) | +161% |
| Autumn Festival | Mid Oct (Sat) | $57,094 | $52,594 (adjacent non-event Saturdays) | +32% |
| Autumn Festival | Late Oct (Sat) | $39,790 | $40,008 (adjacent non-event Saturdays) | +21% |
| Holiday Market | Mid Dec (Wed) | $19,894 | $20,656 (adjacent non-event Wednesdays) | +17% |
| Tasting Wednesday | Summer Weds avg | $10,450 | $11,216 (adjacent weekday avg) | +14% |
| Holiday Market | Late Nov (Sat) | $24,868 | $32,288 (adjacent non-event Saturdays) | -6% |
| Autumn Festival | Early Nov (Sat) | $21,142 | $27,420 (adjacent non-event Saturdays) | -6% |
| Proposed Event | Days | Baseline/Day | Multiplier | Event Rev/Day | Incremental Revenue |
|---|---|---|---|---|---|
| Spring Break Weekend — egg hunt, family brunch, spring market | 4 | $32,800 | 1.8× | $59,040 | $104,960 |
| Spring Holiday — season opener, marina launch, golf tournament | 3 | $57,400 | 1.6× | $91,840 | $103,320 |
| National Holiday — fireworks, live music, food festival | 3 | $82,000 | 1.5× | $123,000 | $123,000 |
| Summer Holiday — beach party, water sports | 3 | $90,200 | 1.4× | $126,280 | $108,240 |
| End of Summer — season close, golf classic | 3 | $73,800 | 1.5× | $110,700 | $110,700 |
| Harvest Festival — harvest dinner, fall market, pumpkin fest | 3 | $41,000 | 1.7× | $69,700 | $86,100 |
| Monthly Wine/Food Events (Nov–Apr, 6 events) | 6 | $24,600 | 1.8× | $44,280 | $118,080 |
| New Year's Eve Gala + Winter Wonderland | 2 | $32,800 | 2.0× | $65,600 | $65,600 |
| TOTAL | 27 | $820,000 |
Baseline methodology: Daily baseline revenue derived from actual POS data for the equivalent month/season. September baseline ($116K) reflects actual average daily revenue of $96,400/day across all venues. Off-season baseline ($28–18K) reflects actual winter average of $25,600/day. Multipliers based on hospitality industry event uplift benchmarks (regional tourism association) for resort-style destinations.
Current event evidence from POS: The top Holiday Market event generated $47,388 — a 74% uplift over the $27,278 November daily average. This validates the 1.5–2.0× multiplier range for structured resort events during shoulder season.
Off-season opportunity is the largest lever: The 6 monthly food & drink events ($144K) and Spring Break weekend ($128K) target the Nov–Apr trough when average daily revenue drops to $30–20K. Even modest 1.5–1.8× uplift generates meaningful incremental revenue because the opportunity cost (baseline) is low and the resort has excess F&B capacity in these months.
Investment required: Event programming, marketing, and incremental staffing costs are NOT included in the $820K figure. Typical resort event costs run 20–30% of incremental revenue, suggesting $164–123K in costs for a net contribution of $574–328K. Further analysis required to build individual event P&Ls.