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HomeMy WebLinkAboutDWGR - FY 2013-14 Annual Report i CITY OF PALM DESERT STAFF REPORT REQUEST: RECEIVE AND FILE THE DESERT WILLOW GOLF RESORT FISCAL YEAR 2013-2014 ANNUAL REPORT SUBMITTED BY: Martin Alvarez, Director of Economic Development DATE: September 11, 2014 CONTENTS: 2013-2014 Desert Willow Annual Report Recommendation Receive and file the Desert Willow Golf Resort Fiscal Year 2013-2014 Annual Report. Backqround Kemper Sports Management (Kemper) provides full management/maintenance services for the entire Desert Willow Golf Resort, including both 18-hole golf courses, the restaurant and clubhouse. Kemper's existing management contract runs through June of 2018. Discussion Attached for your information is a copy of the Desert Willow Golf Resort Fiscal Year 2013-2014 Annual Report prepared by Kemper. The report provides summaries of the current state of the industry, key performance indicators and Desert Willow's overall performance for Fisca! Year 2013-2014. During the 2013-2014 Fiscal Year Desert Willow Golf Resort saw improvements in almost every financial category. Revenues increased 6% over prior year while total expenses decreased by 2.4%. The operating income increased by $783,961 totaling $1,391,720 during Fiscal Year 2013-2014. Last fiscal years' results were the best achieved since the economy declined in 2008. Golf Rounds: Golf Rounds increased 6.4% over prior year with a total of 89,001 golf rounds. Last fiscal years' rounds was one of the highest in Desert Willow's history. Staff Report 2013-2014 Desert Willow Annual Report September 11, 2014 Page2of3 Food and Beverage: The restaurant revenues were up $84,000 (6.4%) due to increased covers for breakfast and lunch and an increased participation in the in-house special events (Dining Under the Stars, Classic Car Show and the Wine Dinner). The restaurant served a total of 73,993 covers during Fiscal Year 2013-2014. Desert Willow also received the following awards in 2013-2014 • Golf Week's Best: Municipal Courses (2014) #29 — Firecliff Course (up from #33 in 2013). • Desert Golf Magazine: Rated Firecliff#1 in Public Courses in the Coachella Valley in 2014. Mountainview was ranked #5. • Golf Digest: Top 50 Courses for Women 2014 Fiscal Impact The report provided is for information purposes only. There is no fiscal impact associated with the report. Submitted By: Department Head: `''��� a'Y— rtin Alvarez Rudy Acosta Director of Economic Development Assistant City Manager Reviewed: CTfY COUNCILACTION I Gibson, Director of Finance APPROVED bENlED..... ..... RECEIVED OT�IER,.r .,�..... .��.���c����e �i1� MEETING DATE q <<"�y App ed: —.._��..... . .._.. AYE5:�$.4n� r►.;Lk S��eI.�Qb�r,�� NO E S:.�_ti"g._._..._�._.�...�..�.....-......�.._. ABSENT: � o�- _... J n M. Wohlmuth, City Manager AI3STAIN: VERIFIED �ti'- '�K <<1� ,.__ Original on File with City Clerk's Office \\srv-fil2k3\groups\rda\Martin Alvarez�2014\SR\DW-Year End Report Fy13-14.docx .�■+ �M � ���� • Golf Reso�t _ _ ___--___�____ ___ -__ �-�,. _ , � �. r� � , � �. � � �,� . � tl �� �,�w y � w4 � �v�•�:. y'�: k _,� ' kdl�'' ,.t �+ .w Y � �i '��iAu .��.��.��,�N��'�����',� 'g��� �t,� Y� �;w ^ �. � � ... ..� .Y. ..y,,. in` ... _' � r� .a r.+ { � w .� " �,.i� '11" ,b, •+-� '��t'� `,,,�,y,�", m+n.N ^�w ��� y v�'� ",y�: 4 a.. � .':�.: �+.. � � � w . : . , _, ,�; ��¢ .�. . , , ... � E � . , . �.� . , _� , �, . � � %u �� . °- ,F , ' a; '"� +4'"�,'`" �* �, . _ _ �.,., .,w, � �q' .. ., r'- . mk � � �, �;�' eu�, � �. �'�, � �-,`y �� ��� �����^ .w,° ��� � �vY � ' / � 1 � � . • � � ,�; KemperSports' � Desert � 2013-2014 Annual Report Will Gc�lf Resort Executive Summary 3 State of the industry 4 Key Performance indicators 5 ' ' ' Customer Insights 13 � Strategic Initiatives 14 Appendix 21 � �r �----, , :, � �-,\ ,.:, �� � , , , , . ��ik�p. ,:t�..� ��. Y �. y . �'� �, ;� t - , � ;� .��� � ,��,. ,�.�; , � .:.;�� ,, II'i { ti�,. , �°� �, ��;� ¢ � � � �s����. � '��� � ��*�r ' '� ^` ^ � � w�'��,� �`� � �i a� -�� �`�sL'�_ �'a�" a� �;�� �' .d� t�> xh }t , � ,r� u' . , ry��..�h� i�` l�s�p �4��� �L '..... '.... .��.., .y�, .. t<: ' . .-. . �..'�w#,/5Y�'" � `t�5''��� - a��'.�;�mCx*I � ��� KemperSports° Desert � �1 2013-2014 Annual Report W G<�lf Resort Dear City of Palm Desert, Thanks to the continued teamwork of City Council, City staff, Desert Willow staff and KemperSports support, many of the goals and objectives for 2013-2014 were achieved. The 2013-2014 Annual Report will provide an overview of the state of the golf industry and Desert Willow's overall performance. This past year, Desert Willow saw improvements in almost every financial category. Revenues increased 6% over prior year while total expenses decreased by 2.4%. Therefore, operating income increased by $783,961 totaling $1,391,720 in 2013-214. These are the best results we've achieved since the economy declined in 2008. We are now close to results Desert Willow enjoyed before the recession. Other areas of success included high marks in KemperSports True Review program, which is designed to quantify customer feedback. Scores were among the top in the KemperSports portfolio as well as in the Hospitality Industry. Desert Willow also received the following awards in 2013-2014 a Golfweek's Best: Municipal Courses (2014) #29 - Firecliff Course (up from #33 in 2013) � Desert Golf Magazine: Rated Firecliff #1 in Public Courses in the Coachella Valley 2014. Mountain View was ranked #5. - Golf Digest: Top 50 Courses For Women 2014 Thanks to the City's assistance, staff also completed capital projects to help the facility maintain its position at the top of the market. Desert Willow's premier facility is key to our future success in developing programs to drive golf rounds and revenue. Sincerely, KemperSports' Management Team Q � ��� KemperS�rts i � esert � C w� State of the I nd ustry Golf Resort National Golf Market Statistics by the National Golf Foundation � Overall golf rounds were down 4.9% in the 2013 calendar year and down 3.4% from January � through April of 2014. Desert Willow's rounds � were up 2% for that same time frame. ' � Round declines were due to more extreme winter conditions in 2013 versus those in 2012. � Course closures for 2013 amounted to 157 with only 14 new courses opening for a net reduction of 143. � - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - � Palm Springs Market Statistics by PGA PerformanceTrak � Golf rounds were down 2.7% in the 2013 calendar year and are flat from January through May of ' ' 2014. . � � Green Fee Revenue increased 2.3% and 2.0% for Calendar year 2013 and year to date 2014 respectively. � Desert Willow increased rounds 6% and increased Green Fee Revenue by 7% over prior year. *Only 14%of 94 facilities participated in the survey. °���� K�emperS�rts" � Desert � Ke Performance Indicators w� y Gc�lf Resorl The following items are key performance indicators for Desert Willow Golf Resort that are used to benchmark in order to drive results. � Revenue Trends Mix Review Average Daily Rate(ADR) Merchandise Revenue per Round � Round Trends Year over Year Segment trends • Expense Trends � --- ``'-,----„ A.n � � �' a� ,� t�e� ���` . �.. ... ,.. �. � �� � � ���� fa� '�,;,., ���� � �. � ` " �wka. �. � ��'� ;�ge �.rµ�s� "W�" "� M ' � �„ `��„� ,�' ;:� :..:R �' i`�`. N � ���'K"k '�A� . 1Y�+'., W,.. �� � 9 ,n t ���� � " ,,+ ��< � � a��,- (�i ��„�, �� aw ,:�°Mi"�� -�� �� ... , , , ..�'�", ,� , *.;,.$ � ��.n _. � y 'F� :PF��} S �'.Q,1'I,., .8 � ... � i.� ;'�l � K . . . �� .. ... . �: 1, �. . .... �.-.;����y 1�� �$,w � ( f�'. ��k x'�. � . ..�:�. .. i "� � , ��� K+emperSpc�rts° Desert � Ke Performance Indicators w� y Gc�lf Resort 2014 Revenue Breakout 3% , ; � �t�r�r�'�4�: 24% ,� I I ■Green Fees&Cart Fees '� � ■Merchandise ��t �Other Pro Shop t� ■Range � � : , �&ne��p ..._.. �. � t'� y 0% ' i � ■Food&Beverage � - 4% �Academy 62% 7% � The revenue segments above remained consistent to prior year. � Other Proshop Revenue consists of inembership fees for our loyalty programs and club rental revenues. � ;,�� KemperS�rtstl � Desert � Ke Performance Indicators w� y Golf Resart Revenue Trends by Segment S�,000 ; I _ _ . .._ . _.. __ � .._._._.. _ _ ___ ._. S6,000 � �� � I � __ ___ __ __ ___ ____._ _____ __.___ - --- _ __- _ _ _ SS,000 r' � � -� i � , _ _ ___ _.. ___ � _ ___ _ _ _ ___ ___ o $4,000 � s � � ____ _..___ . _..____. _ _ .____..__ _..._. . ___ ____.. � _.._.._... . _.___._. _.._..._._ � $3,000 o � .,.-;.. c1 _.___. ._____. _._.. _._._ __.. _ .. _ _ � -- $z,000 � ; I _ _ $1,000 � i _ �___._� _ �� $- _.._. , _.. _ _ : Green Fees& Merchandise Other Pro I 'Range Food& Academy Cart Fees Shop Beverage ■2012 $6,209 $770 $319 $45 $2,315 $293 �Z013 $5,956 $791 $295 $44 $2,344 $264 ■2014 $6,338 $691 $395 $37 $2,450 $275 __ _ _. �� �' ���I '���J I'�i��������u"������� °� � Green Fees increased 6.4% over prior year due to an increase in rounds played �I��Ili�P��i�,III���� E4�f¢�Bk�j� . " of 4,900 over prior year. � Merchandise revenue was down due to two large outings deciding to purchase prizes off site. Gross profit only declined by$13,000 despite the gross revenue reduction of$99,750; therefore, the lost revenue was low margin business. • Other ProShop Sales were up $100,000 due to increased Platinum Card Sales. (All-time high of 918 cards sold) � Food & Beverage revenues were up 5% over prior year thanks to a 6% increase }, in restaurant dining business. �� ;� KemperSpc�rts° � Desert � Ke Performance Indicators w� y Golf Resort Revenue Trends by Month Sz,000 j----------------------- — ------------------ S1,soo $1,600 ___ ____ x _ � $1,400 � �� _. �:: -a i l� c � �� `� ` � `0 $1,200 , � N ...... �: ..._ � I .; 0 L �' $1,000 � c . � - � , ; `m $800 �� ww _.._. _ _ , � o ( „: o ,.' $600 "� _ °` � � __ n, : . �: ;.�: $400 �' $200 _ � � ,.: . ._ � , .;. � {; . �� � �`.' • 4 � ,.)f' F�r ts �'�� 'x,��.(c Y°� � 5'��'' �k, k. ;�. $ JUL AUG I SEPT OCT NOV . DEC ' JAN FEB MAR APR MAY JUN —-- ------r ---- --- ----- ---- ----- ■2011 $236 $185 I $340 $649 $758 $487 $973 $1,332 $1,752 $1,345 $797 $469 ■2012 $267 $215 $477 $820 $964 $543 $921 $1,482 $1,714 $1,277 $743 $526 ■2013 $235 $204 $480 $741 $967 $602 $940 $1,494 $1,726 $1,142 $769 $394 ■2014 $186 $238 ; $468 $856 $1,016 $594 $1,074 $1,534 $1,727 $1,197 $848 $518 ----L--__.�._----�.___ .�._ _�_ ____ � n� The First Quarter of 2013-2014 was weak due to hot weather, a lack of group business and weak economic factors. � ���"�� ��� � � - � The Second Quarter was strong with an increase over prior year of 6.7% due to significantly improved October and November business. Tee sheet utilization was improved in October increasing rounds by 1,200. Improved Platinum Card sales also contributed to the great second quarter. � The Third Quarter (Season) continued strong with a $175,000 revenue increase over prior year. The driving factor was great January weather and increased utilization from our marketing efforts. We increased golf rounds by over 1,000 in January alone. � The Fourth Quarter finished strong at$258,000 over prior year, each month out '. performing the prior year in rounds and revenue. ' ;� K+emperSport.S° � Desert � Ke Performance Indicators w� y Golf Resort Round Trend by Year 90,000 ,-------------.�.----------.____-------- — 89,000 ..�__v.....__.__---_._....---...—__. i 88,000 i—�`---------------------------- — 87,000 N 86,000 —._�.__.._�.-------�.__---------- - -o c � 0 � 85,000 _______._�.��__�------- -- ............ .....�},.�,��. � $4,��0 '� - i 83,000 82,000 — 81,000 2011 2012 2013 2014 ■Total 86,764 86,671 84,314 89,001 � Following a decline in 2012-2013, Desert Willow bounced back with one of the highest round totals in its history. Improved January weather and a strategic change to "Dynamic Pricing" spurred on the increase. � � A large overpopulation of Coots impacted our Guest Satisfaction and resulted in a loss of rounds and revenue in 2012-2013; however, the coot population was controlled better in 2013-2014 leading to better course conditions and more rounds played. � �;�� KemperSportsn O � Desert � Ke Performance Indicators w� y Gol f Resc�rl ROUND SEGMENTS 35,000 -----------------__------------_-------.�-------__----_.------------._---------- 30,000 — — — 25,000 --. -----__--_ _� � 20,000 ---- - - _ � 15,000 ,;: - � �: ,�� 's ��n 10,000 � ^ __ - 5{k: - __ — . � � '.'�.�s. , P'� 'Cr N.e; . .. y'' �39' � . . .. 5,000 � ;4_ . __. � _ ,n. � � � � �� ��` , ; bti � ,. . _ E;,, _ Published Rate Resident Outings Wholesale Loyalty/Special Comp ��z 2013 Rounds ■2014 Rounds � Changed our pricing to a "Dynamic Pricing" model that bases pricing on utilization and encourages the consumer to book sooner to take advantage of discounts. As the tee sheet fills, the discounts are reduced. � Rack Rate play has improved and the need for Wholesaler rounds has decreased with Dynamic Pricing. � Resident Play was flat to prior year. � Outings continue to be weak mirroring hotei occupancy for Groups. � Desert Willow Golf Resort Loyalty Programs were very successful due to target marketing and member retention. �, �;�� KemperSpori;s` � Desert � Ke Performance Indicators w� y Gc�lf Resort Rounds Trend by Month , �-------------- -------------....__.. ____.------------ �---- sz,000 - � � so,000 � -, �� - i `� , , �; s,000 � -___._.,._m ,,, �: � , -� : c �� .�: 3 _� �: O ��' '.y � 6,000 _-_ , �� � _ r: ��� �^R � 4� 4,000 � _ - � � ,� -- ,� �k +� Y ; � , ; ` , 2,000 � _ . _. ; „ �,. � � � 6 £ w , > � n . � ,? `�� �„ .� � � � _ �h y. ". ;a t.: .�. Y .. .,_.._ �... ...- "F . . ° �7E . ww . ...._. ._. ard m,. . ,.,,�r�. . L£IaM>.i. .,. .. i JUL AUG SEPT OCT NOV ' DEC JAN FEB MAR ' APR ' MAY JUN ■2011 3,903 3,065 5,201 5,931 6,617 4,798 8,543 9,728 13,234 10,774 8,248 6,722 ■2012 4,099 3,107 5,511 6,120 7,188 4,631 8,295 10,416 12,752 11,313 6,912 6,327 f�2013 3,491 3,119 5,153 6,014 7,167 5,085 8,331 9,962 12,617 10,205 7,296 5,874 ■2014 3,306 3,812 5,381 7,120 7,225 5,355 9,513 10,028 12,868 10,450 7,915 6,028 , .,...,.�..._...,._ e Increased rounds over prior year in every month except July! • Rounds returned to the 89,000 level for the first time in seven years. � April business has significantly declined since the addition of the multipie Coachella concert schedule. Drive market golf groups and weddings are no longer able to find reasonably priced lodging. � We will continue to focus on growing utilization in off season months and growing ADR in season. ;�, KemperS�art.�� � � Desert - � Ke Performance Indicators w� y Galf Resort ���� ��� �� ^ Other Key Indicators � ADR was up$0.50 due to increased Public Rack and Loyalty Rounds. R Platinum Cards sales eclipsed prior year by 155 cards marking an all-time high of 918 members in 2013-2014. Platinum Cardholders played 9,921 rounds of golf driving the total program revenue to a high of$1,112,442! • Food & Beverage Revenues � Restaurant Revenue was up $84,000 (6.4%) due to increased covers for breakfast and lunch and an increased participation in our in-house special events (Dining Under the Stars, Classic Car Show and Wine Dinner). � Banquet Revenue was down $40,000 due to transitioning the Catering Sales Director position. Future bookings are ahead of pace! � Beverage cart and Cook's Grill revenue was up $15,000 (4%)thanks to increased rounds of golf. � Cost of Sales x Merchandise COGS were 52.2%, which was significantly better than prior year 56.5%. � Food & Beverage COGS were 32.1% up slightly from prior year 30.5%. � Payroll expenses were $107,000 less than prior year. � Reduced Hourly Staff by 4 FTE's. � Turnover in Management Positions created savings through salary reductions and through unfilled time periods. n� Operating expenses decreased 2.3%from prior year for a savings of$71,000. � Operating Income was $1,391,720 beating prior year by$783,961 (129%) ! "��� � � �`°' � �:;��. ,<� �.�� ,�� ";°' �+ Ut �A � � �,. ;��� ' �� A� <� :� :�� � .. _ T `' ._ +"" � �:. ���' .��'; �. � �'��. Y. ��.,� � �"' � ,��� .,. �i� { �'��� �. ,. ���;,�h. �,.� ��� . �- a� , . _..-.._m. . ��,� KemperSports° � �e rt. � � Customer Insights Gi�lf iZcsc�rt �� KemperSports TrueReview�" . _,� - r. �.� . 7V.:1 l�J.�� Totads 'i.�8 8.9 8.1 8.7 8.4 9.2 1,2Q9 Desert W+�o�w 72^. S.9 9 1 8.7 8-4 9.2 1.2d9 ` EXceed@d gval Failed�I ----� Gosl area 75�3 8t_O 7�6.6 74�:8 69�Y.6 70_5 69.H 66�8 HM.3 65.2 E 8�9 9 2 9 H 8.9 6.6 B�6 8.9 9.7 9-2 6 9 5 : v �rx w�.a sw om � .v. ., e� +o W. wy w �y �� � ,.._.._�,._.--.e�.��w._,. ...�..�--�.�.. � ,., �'.. `y s . r3 ,•' .. ,^ $ 9 .._... .... _ . ,� .�/� -_ _. --_ 6 Y ���_______��.....w��A r y������ ___���3"��� .. .. .1 _'_ - _..._... ea �� 9�2 9�0 9.0 � 6.� 9.1 9_O 9�.7 9.1 � 9� 8�5 8f.�6 $'� B.� 8-6 8.5 6.8 'k9.4 92 Bp7 'a va •o •,�� "^�..,• s.�_s-� �r •-�-• • '� �. .. .. . ... e �'� . . . _ "_"" '�. . . . . .. g ., - �-m � .....,.. ._..._.:... e . ... .. .. ..__-____-____-. _..___.. ______._____...._._. e . __.-_ . z - 7�9 8.0 �.p H�'I 6�2 Bo.� 6.4 8-4 H.4 Bw3 M.� 9�2 9� �22 9�2 900 9�0 9�0 9�2 M.4 9p0 M G w..o a + 0 to �_'-.-��.e�.m._...�-_"��....r ,..�m...., ..a-._......w. ,..,..-"'^-.-...,>e.-�d r" ..: a ....:.. ,. . .._.. _..... ' y ._...k. . 5 3 2 � Net Promoter Score (NPS) is our key customer satisfaction measuring category. Surveys are sent to all golfers who play Desert Willow. NPS measures the customers' willingness to recommend Desert Wiliow to others. The NPS score of 72.5 is among the top in KemperSports and was greatly improved over the score of 66.3 last year. � All other ratings increased slightly except F&B, which remained fiat. All areas are receiving high marks. � We maintained excellent course conditions in 2013-2014 and prevented an influx of mud hens (coots) from affecting our guest experience. Harassment initiatives were in piace and planned in advance to avert mud hen related damages. r True service training initiatives were in place and employees advanced through � higher levels of the training program. ��� � Kemper�ports' Desert � Strate ic Initiatives Will g Gc�lf Resc�rt .,�. R�4,� ��x'ttt'�Zdt1C111 • ye;,;�+.: ti,,y,:,�y, � CulrtQlRe�1!d ti11C'•, � • • � • • CtRiC!O�fxCd4�t�" • oace Reyo�rt�nq t t> ,as.t;�J�'t�'1` ��C�'�, . 4r�SefWCe�"r4�a�^ �I • TtutR�,/k'w SYtYtY T+��,`z I •�t•�M��y�OitfS4'C+,r'�c7;Y��rortS, � , ��. • At+l11�'t 0�3'v+E'rOD'R'+!"Rt DrS;,�±6�'"sS ����� �' � # '' � ,, : � ����;�� ��� _ ...._......,._...._,._. _...�,,��._ _ ,.,. .. �_. � .., .:. + IrtStit1�t10rf O!KS�uMllm�nt�a"� � •Sdstt N�ruvq, Testtnq 1! Trao++��.: � , •�i�t,�i&�c��sq OYi�wer� ��0�'+t3!MiAIQlf�►lr� •Grcen•to�e•Tc�P Drcpr�rt4 '°:,; ,. �V"` �'p� � � � Under KemperSports' management, Desert Willow Golf Resort has utilized our preferred vendor relationships and leveraged proprietary operational initiatives. � � � ' � KemperSports provides savings from vendors through the Entegra program, Corporate Insurance Programs, Purchasing Rebates from National Agreements, and other such programs to the client's benefit. � ;�� K,em�erSports � Desert � Will True Service Gc�if R�sc�rt � . Se��hx:;.r.,, t�c:�ttr��z� t�:�:sc�*� • . ���stx�.y� `s��s:�s�s,��a cs cx�-t9a�.u�* {'����'�""a` . �.:�."�3:ti'� �..��"�,4'�1:a`�:�� :a tkxr �i °.,d`s`c�`drCc s5 a '- . i^.�S;�Ctt.�.t ;�:r��x��a�,�x ,W.��r�z��.:r.u�*, ,i:a`€.c�'F: • � _.._____ I..._ �� � ���� � Desert Willow has been a leader in True Service Training in KemperSports. 100% of staff received the required training in 2013-2014. � True Ambassador of the Month Awards and an Annual True Service Ambassador of the Year Award Winner are featured and recognized . • . • $ On-going department training and meetings enhance the training of all staff which has resulted in Desert Willow leading the Region in Mindshare results. � Desert Willow services have been recognized annually for KSM National Mindshare High Results. ;;�� K,emperS�rts' � Desert d Environmental Stewardshi W` p c��lr Re���r� :. .�:� .... . �:o-, � Green to aTee� _ �_ -__._..�`�. zdai�� ��. � � � ���;� � w ,; � �� _ ,� ,�a ��. �� %� ^� �- , � ���� A � � � : � , n ,� • ; d �JP' �g. '� �� <a '�'. "` '�"� .;�g" ,�. � '�y'r- � °" �„��,,r ��r�t m '��. d W4 ,. ,. ��� � - ra « ����;a�'y � � t.�a �����. ���� �...�,� '��� �# 1 �4 :�t� �� - �, ar"� - _ � �'a ,� z ,. r �. _��� r t � ,., �� 9 �k tyt s. .v� �A�' �1 ;'��,� ...» .. ���fl"`` k� �� SP�'y(� �q9aw* �p�.�. ��:.-: T M:' . ���J y� •.�'�`��� �k; �. F,,,p � 't � `� � a �"'�f �4. �= x., rs; �`' � Desert Willow has achieved Level I and Level II proficiency in the KSM National Green to a Tee Program. � � - � Desert Willow is working on Audubon Society Certification to enhance our , commitment to wiidlife management and good public relations in the community. � Desert Willow's recycling of Cardboard-Paper, Glass and Plastics has reaped economic benefits to Desert Willow and demonstrates management's commitment to being GREEN! •�°� K,emperSports' �� � Desert - � Investin In Innovation Will g Gc�lf Resort � :�` �"` � � �:� �`�" � ��. \ �� �4��� � �� . �u� �.� � .s�:� "�. — � ..� ,�.;�,, p�,, " � � �; � 9� �a �'�'" .�. ,�",„ � ��e' 'ti � . �� { �'1�'� ��� - •�'`��` �� „ - � ,�- _, . ^ �y,p � �� .�;::�"` - � k" .�, '� �! .: � .. , ,�� .�'�'� ' —__ �. � .«« . . _ M � � �i . u� � � � ,, „ �.,; „�r�► ,R . ,,,�-_,.-► (�;� �� . � k sn�/ � � �, ..... , � '. .ei�. -, � �::, `+(�� . �i ., ' .....�. ,... , ..����� ::;:, . "��•�r�., �,., � Annual Regional Sales & Marketing Conference (held at Desert Willow in 2014). � � � � Monthly Webinars (Tee Sheet Management, Website Optimization, Social Media and many other programs) are conducted by the KSM support team. � The Regional Operations Executive, 011ie Becker, routinely inspects the Resort Programs and Services and attends the monthly President's Meeting at the City of Palm Desert. � Our Regional Sales & Marketing Director, Amy Spittle, is participative and available for consulting on resort marketing and promotions. � `� ��� KemperSports` �r Desert � Strategic Alliances Will' Golf Resort -._._,_. _ _ _ __ _. _�_____.._ . , - ,,, `�� '� � � ,,, „ �,� � ��,�� .��.. `�� � ,u: �� s � �- . . . � k�-i�-' �' k � l 1 � �' .�Yr. .s a�•P r � ,_ .. . . .�. . . .b , ._„r . , . .. Y � _� �V � ��.��', _m_ a,m . , _... _ � . �, ,�• (,a� , , ��, Q �; ' .,� � National vendor relationships through KemperSports also provided merchandise rebates of$9,800 and food & beverage rebates of$8,000 . � Desert Willow partnered with Black Gold Golf Club in Yorba Linda and The ' • • ' • Crossings at Carlsbad Golf Club to provide a "3 in 1" loyalty card program. This allowed for Loyalty Cardholders of each KemperSports facility to receive discounts at ali three clubs creating significant value to the cardholders. . ;�, KemperSports` � Desert � Maintainin Facilit Image W g y Golf Re�;c�rl ,�...r�-�-"'`_ _�..__ -.•. ��.,,.�..�.� �� -� �__, ...-��� � _. . ' . «� _,. � w � , �_ . , ���,x,�w,,,, ���,, � � � �� � � - _ : `' �'"'�' :� ;i . ,.. , � � , � . � . , , , - � � � �h � _,_ �_�. �-. � � �n „ � ��` � ~ �. � ' "` �. _ � �.- l, � � ; .. � '" ` , _� � - 1 I i f� Y��I��� �I I �I � II� I , �I � � � Planning started with the assistance of Hurdzan Design to o � renovate the Firecliff bunkers and tee complexes as well as look at a significant turf reduction strategy for both courses. ' ' � Trackman technology was added to the Palm Desert Golf � . - Academy improving our ability to teach and fit golfers. � Necessary cart path repairs and replacements were completed. �� ��� K�emperSports" � Desert '� Ta r et i n S u ccess Will g g Golf Resort $ in thousands Revenue 2015 Bud et 2014 Actual _ %Change ..� _..._,. - ----- �,..n� .._- -.... ----- .,:.....� m� _... Green Fees & Cart Fees $ 6,404 r $ 6,338 1% _ _ _ ---- _ � Merchandise $ 783 $ 691 13% _�_._ --- -.��,...��-- - --- --- ---- � --- -- -- Other Pro Sho $ 332 � $ 395 _ -16% Ra n ge --------._.._� - ------- $ -----_ ._38 �$------------- _37 �.------- .3°� - Food & Bevera e $ 2,491_ � $ ii32i�2,450 ,n,. ?% ��r,... ., . .- .. , - -_..... n��. .e..y a._. ��. Academ $ 281 $ 275 2/0 ----- _---- --------- . ------ - - Other G&A $ - $ 68 -100% �.�.�.��.�..�.� _.�.� —� ,.A�y -= G�..�_ Total Revenues $ 10,329 $ 10,255 = 1% _ - _- --- - -- - - _ - __ - COGS : $ 1,184 ' $ 1,188 ' 0% Gross Profit � $ 9,145 $ 9,067 1% -- .-- - . �._M - - - _ Payroll � $ 4,561 $ 4,601 -1% ---._ _----- __ ------ -- . _ O eratin Ex enses $ 3,021 ; $ 3,074 -2% EBITDA _ _._,.�_$ 1,563 08 � $,_... 1,391 72 - .. _,�.. .. _ � % of Revenue � 15%� 14% --..� --_ __ --- --- _--- --�.� _--�- _.._ -_-o _ Total Rounds ` 86,509 � 89,001 , 3/ � � Desert Willow is targeting growth in golf revenues by utilizing our Dynamic Pricing software for a full year to increase utilization and ADR. � We have targeted growth in Catering Events including growth in the Social and Wedding Markets. s Continue to improve our Platinum Program by adding a full year of the "3 in 1" program, discounts with local businesses and organized Platinum League tournaments. � We will offer a new Platinum Elite Annual Pass program for those golfers that � can't get enough of Desert Willow. � Creative Food & Beverage Promotions and Special Events are planned to drive F&B Revenues in Dining and Catering. � Desert Willow is partnering with the newly re-opened Ritz Carlton Rancho Mirage to give them a wonderful venue to offer guests for outings and regular play. � Despite the increase in minimum wage, Desert Willow has targeted areas to continue to improve labor efficiencies without sacrificing services. i � ��; KemperSports` ! � Desert � A e n d ix Will p p Gc�lf Resorl ____--_...__— -�_.. _,_...._.._- -___.__ � _._,,,� .��,....-._.___- -__ �. �, .1._- �, _, _ � �.•-"" , : � ,��.� 9�, „ t..�.�+ � ;� ;� �'" , ��e„ a. ,� .« ` �J � .,. ^� �� �, �' c' � . . ,t. ,� �: + "" ''�, � u« . � � - � r '."����+�C' � " � ;��� � �. �� � �,��� b r �' "�Ir� �� ' 4�' 1 � 1��`,�. �� ,. � .. � �� =. '� ��e , �" 4�: �l M�'�"�`�► '" �' ;``.� �"*� �'�" M � � ; � � -� �Fr� . .. v �,p ���t�' . �If��J�'� ks�S � .�^. -.. a ,� :� ' m,,,�. ._. _._..... . '� -� � ��� rlM�.... ,,. 1 �,,. . .....,.. _ ". �' -::.�-:. ti.`'�• _. "'�,.� _ ,�;. ._,,,,�,�. , ,,� __ . � , ., 1, , . ,��: a � . � ; _. .�.�- _ y '.,r,,," .�.. ' ' , . Awards and Accolades � • • • �.. Marketing Samples � Event Calendar � ' ' Fiscal Year End Financial Statements _ �� Comparative Rounds Mix Analysis ¢�, Comparative Dining and Catering Analysis Organizational Chart `� ��* K+emperSports•° � � ta Desert V�ill�f Golf Resort Recent Awards &Accolades �� �°`' 1s ❖ GolfWeeks Best Municipal Courses (2014) ����,�� � � �� � ' �� �, ❖ #29-Firecliff Course �,� i� � ,, ) ❖ Golfinreek's Best: Municipal Courses (2013) � % #33- Firecliff Course ., . .�.. ; , ' MUNICIPAL COURSES •�• Goifinreek's Best: Municipal Courses (2010-2011) _ ' `"""��a • #25- Fireciiff Course . . . ��: ��• ❖ Mountain View 4 1/2 Stars � � . - ❖ Firecliff 4 Stars - ❖ Mountain View-Top 50 Courses for Women ' � 2011, 2012, 2013, 2014 �,. � ❖ Rated Firecliff#1 in Public Courses in the - � ��iAGn7tr�� Coachello Valley 2010, 2011, 2012, 2013, 2014 �""��' •'• Rated Mountain View# 5 in Pubiic Courses in the i • d'�°�:°�$ Coachella Vailey 2011, 2012 �., �� � ❖ Award of Excellence: Mountain View & Firecliff � � ���� • � � . ' . . ❖ Award Top 50 Public Courses 2010-Firecliff# 25 . � . . I t • . . ❖ 2010 Worfh The Green Fee ,�`� �Q1Q -"Know Before You Go" .� GREENSKEEPER,oRc ..._ — __---- __ _ _ _ _ _ _ _ - -- ______. - . ,. BEST��'�s � � --- — _ ��— --� — � i • > _ � ve �n oe � � � ra s . , . . ��,�_. .� � _ , , + . ,�,: .�� „ ' OeorJoe: /'mplennln�a bschelwWrtYto i - Les VesaslnApr/l.4Yt'd Ake toplaY '° tworoundsNo�totbeSblpand 1 . �r � '�, , wanttolre�P�+dowR.Am�dvin7 � ' _Ca(5nyder,Chendfer,Ariz , ° � ,.e� �` . �, �{,� �+r ' �'�' 0:. �. �u, . � ���'``�" `re. �ux,� f" � M�d Park(S45'�155i 7�,0��,L,.5y4,�-,4,653, �. �.,..55rk 2"ki�; '-n. �ar �,�'' �:,'e y'tT..x,' � '� . �DID� �•�►7"""b�0u , ,�. ,�; ,i ,� _� . � . �r�� ���.p. t� „ .. � • . �- ` . . , w-.� . . �WSIlL1BH.Slu"p'�y/��, "."LC�"�"_"" 0 � �+�y,. .r a i� ,�,i . . .,. 'v �, � . 4 y,,.S ,. � �UfWl���p�Oa\aa�a�+4IG Tf�l���wn� ,, - '' '�,w �`��i �S, over the Pdm,though both ere worthy), ���' ''`� � -•�, ' the Cla�d Nh�s,a i?rhok Pai`3 aourse tlxt r i k " � � �, ' �`'�„ � paye homage to some of the vwrldls most � � fiunous short holes,including the Poetage c � ;� a� �"`"''�,. � SWn andthebunloerin-the-greenat � ���� �`�� X� > �� � givie a;and a nine-hok���.S��L -B�r� i ;: 3 � ''._^"'r� �y� ..��` �� t�"���C�m�W lW VYa�j�f � �" "�" °`' � � ��b�s�nd d�e�.Both tltie Cloud �' .�� 'iNu � ,,;� , - ! Nine and the pntting cowse ate ligttted � �""`�,,,,.,.-� . l for nighttime play.Another great value is �� De�ert Pl�es($59-S1b94 888-427-6678, ;. . � vvalna�egolf.00�l,a Prrry Dye—d�g�. , ,�; mi�►uutea fcrnn �`�, � ": : „�a�, � Carolinas-atylespread mi i5 ► � y the Strip.Your Rst Peck can maloe �. . m � Y� � �.' � Plent�►of inemories here. ,�,�.��;F, " � � � � � � Gal�fornia Dream�n � � � ,� �»�}M�F(,�IY,R ,fw �. � �.'' 4 Mh�{���� f�53i;rf" .,. DsarJoe: shinea with maseive eaAd,shrub , �; Wi'n low-hendhaPAars faaded� and uee features.But don't worry, jl�� � � ,� � AsUn s�tn�gs.w�'ws p1a1RdPGA►Mest there's plenty of graes where you ���> andth�La Qulr►h Raiorlcourses.What want it.The course features gleasY, ,, :, "� � � su call ]aced „��,-' � 'w r` rtewcheUongsdoyoouncomrr�d7 elevatedgreena, ategi YP —Den and Marltyn 18cobs.Vancouver,e.C. fo[m81 bonke7s Snd mwittaia �" � r ��„��sw, ', t�. panoramas.'�vo more A liaters:the 5 � ��,;�� I'm a big fsn of Martiott's Shadow Ftno��ff aad Mow�tain Viwn coursea � Rldje($80-E380;760-674-2700, at Dsaart YYlNoM►($95-$185;760-346- � golfshadowridge.com),a 14-year-old 7060,deaertwillow.com3.Firecliff is a � Nick Fa1dMBrian Curley collaborerion bouquet of desert ffora and ePrawling that offers nearperkct resort golf. Hurdzan-Fry bunloera.Mountain V'tew . , , �� � � �. � Shadorov Ridge was conceived es a nod is a tad more forgiving,wich wfder ; , - . ' r to Aastralian Sandbelt golf,su it simply fairways and fewer forad carries. � ... _ _ �, � � I � 144 no�s�up�/eon.eew n�t�w�a X. s F�pa1m springs & the coachella valley FACILITY PROFILE ,�:�� � �. � ����,4 , � r ' 4 �� � �-,�,y ,�< ,��� � . • "' ,�""'r"" �, � � . s , �,x�� �"� .: � � ���r �S�d�`-d;�,�.' r E C �yY t �-� � r "�_ ;�.� � �;��� s h,,, � �•t, 2 a �,s�' , Palm Des�rt, Palm Springs and the Coachella Valley are ' ,� . , � , , �; legendaiy playgrounds for the nch and famous. � �� But il's Palm Desert's excl�sive wm�ination ol'd►e Deserl WiAow Colf Resarl has two of ; � � ' sceiuc desert landscape franiecl by tl�e Santa Rosa tl�e roosl dewrated courses in lhe , .,. " �5�,; y�_.�, Mountains,year round sun,shopping on CI Paseo Coachella Valley and il's easy to �; Ikive(the"Roclea Drive of ll�e D�sert'�,warld-da�s urxlerstantl wiry. C�irediff and Mountain M � �ining and a wide range of acGvilies d�at really View are two unforgettable courses in ° � sets it apart. Anci of course,there is the golf. one legenclary locatioa 1'layers can test ,�,., ,�. M ' ExtraortllnarygolF. their skills against I�rectifFs natural ���� ,�' { liazards and myriad water features or ^ , . ..: , + Desert Wiliow Colf Resort t�as two of lhe finest play a smoother,more retaxing round golf courses in d�e Unitecl States,wl►ere the ir�creclible on the magnificent Mountain View views are o►�y s�pacsecl bY the play.Des�t Willow's cowse. � �rediff and Mountain�ew courses are ratecl four and['our and a half stars by Golf Qig�t,arxl are For those who need to work on dieir ranked#25 on the Golf World Reader s Choice game,The Palm Desert Colt'Academy at Desert Desed Wi�ow oFFers seating on one of the largest Awarcls list[or 2010. Desert Willow Colf Resort Willow Colf Resort is a world-class golf instruction outdoor pat3o areas in Palm Desert,ov�looking tl�e was also rated#27 on Colfweek's Best Municipal facility featuring PCA certified private instrucUon magniftcent FirecUFf cowse. The Iakeview Terrace Caurses for 2011/Z012. in Fact,FirediFf has been and group clinia year round.The Palm Desert Colf restaurant offers some af the finest sweeping voted"#1 Best PubGc Access Coff Course"by Des�t Academy also affer�a fuU-service cJu6 frtting center, panoramic views of the Coachella Valley. Colf Magazine For four years in a row,amongst wid�all of d�e major brands,helping equfp playe�s otl�er local, regional,and nationai accolades. wllli die proper tools and inswctian they need to Be sure to check out DcsertWillow.com for year- elevate their game to the next level. rouncl entertainment,induding Music and Dining Desert Willow's Firecliff and Under the Stars and special brunches. For the perfect meal bet'ore or after your day of Mountain View courses are golf,Desert Wiltow Golf Resoct is also lmme to the Firecliff and Mountain View are open to irdividual, rated four and four and a ���'Temace restaurant and Vista bar,otTering group,and toumament play. for une of the best half stars b Golf Di ESt a wide array of mouth-watering dishes desertgolFexperiences,makesuretoplayaround y g complemented by refieslung bev�ages and mrlctailz or two at Desert Wi�ow Colf Resort. ., �,, ,,, . .,��, , w � . , � , � ; � r , ., � r � l +'re' r � :'� r - � �. ; .. � - ° , , 3 �y� �,. "�,..4,, eYn=.: fPy.,9r�.: „ . . r .... N A . , ry.'�{' X.. '1 ,�. r `r � .." ._.;,�� ' .�.:� ` ���M � x41!3. �� �. ' � '�i -0 . k� �, �,1+ .+ ..: .n ,..., .�� n�,- `. ..., :x ..,�„ �.� . . *y,�p .J F II rr �. �MIYY�yWW tn,4. . ' § 4+ �.,s�.b«., " , � � '°'�"f wdd•� �r � , �' �""t . . „�¢k. '�: :, � �, ., , � � p� � ,'r8."" y`� °'$"` 4�'r:: `�).. y`4 ,.b! ' �i:. � "l�l'r�� .;a�"> � �- • For tee times or more information, call 760-346-0015 or visit DesertWillow.com B` U�c Pmsick7it,you ntwcr know wtiicli coursc you am a bit,a tnp�o Il�c EI Pasco district is�xccxsary. � C O A C H F 1 L A gouig In pfay unUl aftcr i�c Ices oIT." N E W S A N D D E A]�S i SmuelimesrefemalloasPalmS�iongrs e��uiral�itof COMPILED [3Y iG GDITORS IRel�i�uxl fun.�tral is wt�al 1'�hn S��rnigs golf's all [ievedy Ilills'Raleo Ilrive far ils sty)e u�d u��cale C(��c Clul>,a►r��ioa�ally rec��ed d4vr�imdrip c�use about ar►cl iL starls wlien.your plane lauds. sl�rt�g�qx�ia�es,Uus ouldo�st�qm�g boule►�artl cksigi�ecl by Mrokl Paln�er�al a tlmae tin�e Iwsl sile of Fust oll;ti�e P�n S�xing airporl�a sim�le buit��g in Palm Ue�i is full oC tap-of Ilie Cme clesignas Wce tl�e Bob Hope Cluyst�Cl�ic,oral�s a new sp��ai� lo get arowui ui,a�ul lt�railal car aga►acs a�e riglU Fsc�la,s�..���s��ra�>>n���,r�r�y&c���ry, golf wwitli mlting tmain.wlde I�nding are�s,30 acres of Ixxi�te U�luggage l�elts fa ease of access for diase Shamer In�age,Ihe Pollery Bam ancl many fine arl W���featums,l4 Im�i�es,puie trees,and pine straw grovu�irtls eag�r togel wxk�way.Maku�Uw►�s even galleiies arxl ctinimg s�ols. granxid cwa:k Ir�s rexr;ve�l�m��rmusaw.nls u�luci��g nwie rnm�iertt is Q�e fxt d�e vdddes are atso riglit lxx�ing nanxxi a ZOINJ"Resort Course ol'Dislii�ctu�n"by or►sile.Tl�e air�wrt is close to major arterial Asford'm�g,itdoeuitreallymatterwiratyourtasles GolfWeek Visit pl�yclassiclub.mm far special r�tes. roadways so getting to yo�r accommaialion is an n�ay 6e on any given clay,you U fmd a restauranl lo p,�,;F G��,;iol;,,lmrr�e to twn of U�e Caicl�Valk.y's tq� e�asy process. ha�ulle your eravin&s in the a�ea. r�tecl cours�,Firecliff'and Mountain View olTers great ciucount value witli tl�Platinum Clab Canl.CaRllbl�er f�rnn a�ry latd il's tl�i�dati�dy c�y lo Ira�e)arow�l Of course any golfer s trip to Palm Sp�mgs woul�i l Benefi�s irx�lude discwnted green fea!'a ca�dlidda and the Palm SpN�gs area with wick roacts everywliere be complele wid�out a trip ta Amold Palmer s up l0 3 guesls w1U�wiiuer mauh r�tes r�ngii�g fian S70 and grt�at signage,wl►etl�er you were headecl to d�e Restawan4 located in La Quinta,just down d�e road to S 110�r pl�hase�l on I;,ne af year a�d lune of clay. course or looldng to spend tl�r day on cultural a� from PGA West Tltis fascu�ating eatery has s�everal ������ne up to 21 days in adrance.7iieie is sl�o���ing aclivities. roans nar��ecl�I�onau of fan�golf to�namenls, a�o 50%olTrange rates.l0%olf rtxta�uant dining,30� including tl�e Brilisl�atxl U.S.Opai rooms and the o1T non-sale appuel&acces�ies,and 15%off golf Sane ol'Ute ative�ttures r�l to be missetl inducle d►e Masteis,as wPll as Miie's Pub.Patiaps after Iroisting instrucUan. Visit deserEwillow.com for details. P�P�'Callege of U�e DeseR outdoor n�artcet(don't a few drere,vi�tors may even want to st�ow off d�eir �;i!verR,c;��,:;;,:; Owc�ed by Uu Gty d'la t�mita and foiget your sw�i a�i a trat}which I�as anrer 300 sl�ort-game skills on tlae on-site pul ting green! ���,��dm�rk Golf Management.SilverRock vencbrs seJling everyfhing from arts and aafls to Re�i's AmoM Palmer Classic Course,one of U�e Irome expeerienceci goff balls;d�e outlet malls in Cabar.on, So,wlWe Qie majority of towists that are beginning canses for We Bob Hope Classic,a a cliallengiig 1,578 le�d�an an twur from Pa�n Spring�vwest nn 1-9�ancl to finc!out about Il�e charms of Palm Springs go to yaRl nmstepiece.Spawling ovg 200 aaes with massive otT�ing o�'100 tt�-oF-ihe-line clesigna rome sta�ex P�Y B�tl�e�mare than a�ough to kee�everyot�e native tau�kers and stwuw�g water featu�es set agao►st Ihe Pdlage Fest,a wee.kly eu�tl f�cl 1ti�y�wgs busy,whelher your stay is for a week or a month. the backdrop and natural beauty of the Santa Ros� that otTers clrn.ens of vendors,street entertainment Mountai�,it is a development p�o,�ct�unded Uuough and a ceciified fartner's market Whichever it is,you'!I enJoy the time spent in this �City of la Quinta's Raleuelapr�t A�ency.'Ihe master holiday/golf inecca.For more information,visit P�����'�°�d��10��Pg°�'���� practice center,r�tail verwes,luxury and boutlque Irotels Of course,if yau'�e looldng to step up ft�e�ice taclder www.palm-spring�.org.iG url a oomRndon oeraer.I'nrCdfSpea�vL�t s�a�ocko�. Tl�e Unlmuted Coif For Two package at (44 .�4a�:�ir�u } � "��'��� `w � � , , ��ti ` DEst.t :.Ei�i!i��R��u;E r'Spa featwEs accommodations � '�� - � a i�i etegantly appointed roans ar►d unlimited golf for two �°� � P�I�ontwoTedRobu�ai��118-lwiediazr�pi�n�fdp r, " golf courscs.Alsa included is b�eakfast for two,a S25 msat ae�dt iange balk,bag tag and golf dub valet s�ce. ',d,'�a� Rates start at just SZ79 during Se�tember and 6nm$329 �r� �' � through the end of the year.For in[ormatioi�,visit �f desertspringsresart.com �K,; �: ,� a,t�. �, x "���`t �`� 'a 1'fte"Gnntaculate Ir�r,�A;�a� �;Ii Clubwhererhey i�` ��, .� ,. �,3 �:" '� .,� say tl�ey t}�ee�g�eens�e a pelfect te�i�rdted"Best Course ��`;` �,��"� �. ,� under S 100"hy The Desat Sun and for 2008-2009 iias , . �_ + ,�,,y r , �' . � , r e ce i v e d C o ff D'g e s tk 4 s t a r r a t i n g. I n d i a n S w i n g s h a s a � _ , `� � � � �,� ���x" .��_�� '""� x, reputation as one o the fine�t and most player friendly �t=.`"" � . `, ,�,�,,.. � E: caases in the Palm Springs A�ea Thea emait speaaLc oF1'els �' ,�,y'� +� some a�nazuig ar�ng die best values in the Vapey.Visit � . �fi ,�,�� ,;� :�„,, z ,� indiarispingrcge.crnn ro sign up for thdr late-�eaking e- �, ,_ � speciak. y - _ � > > �, a, ,� � .�` . ,._ m.... w�. ��� � , ������� 'Rie azrl�3n P;I,�, � �; .: ��-- ;;� .,,_ located m the gated lndiao PaLns Country Club has 83 �� '- � f ' V vaca8on units.All uniFs are 2 bedraom/one 6ath,and lu�ve full kitchen facJities,and cutlery service for soc.'lhe Horne Course of the Boh Ho e Classic 2008-2011 —A GolfePs Paradise! ''�0rtsa�ne,u�iesuxludegasBBQ's,lan»dry�cWcy,cwo P pooLs&spaz and putting gte��.lhe 27 hole d�ampionsl� Are you up to the Challenge? goUcourse has a dnving range and 5 temus courts(All Sper,�al �v�rt�s � Y�edtl€t€gs I Grt�� �k3c�idol�r��stt� dubantenitlesaresubjecttoavaita6iliryandadditional fees).For details,call(7G0)347-7G40. S I LVE R ROC K� Call Today lor Tee Times For ova 20 years,Stancl By Go1f has been ollering �" w e s o R T 760.777.8884 I �v�.Sifv�rRock.org itiae�ble�courttsoF1096-50°�offtl�postedratean MANA6ED BY WiDMARK GOIf MANA6EMENT Dvet 40 CI1dn1PiWL5IliF CDUISfS idl tlle Pd�tll SpJ111�S de5fli Condnued On Nad Aage FOR ONE OF TIlF BE'rT El(rER1ENCE5 IN iME COACHHIJI , , VALLEY,MAKE SURE 10 Y15R OFSERT MtILLOW�CANMA'S � �, � FAYORtTE DESElCT DES`�INATION. Resort is a world�loss golf ` instruction facd�ry featunng PGA � cerUfied p�vate instruct�on ond ��'' �' � '� groupd�n�csyearround_ ThePblm "", ` �� � �`�;�;���� � Desert Gdf Academy also offers .: �,. . .�,R a fu9serwoe club fimng center,with °� ,` '� all of tfie ma�or bronds,helping �' �x�� "� �, equiP Players with the prop�tods , ._ .�"�#:� .r� and mstrucdon t�ey need ro elewbe their game to the next Ieve1. A PLATINUM and is the premier venue f�r g�{�re or after a round of golf,the OPPORIUNIIY FitOM �"��dmuig nnd e�ahng eaents. ����TeRace Restauront and PALM SPRINGS'DESERT �rt Willow Go�Reso�t boosts visto Bo�are the+deal spots to ��W G�R�� two of the finest gdf courses in grob a delecbable meat and a aool the Southem Califomia desert, beveroge Offenng ouedoorseahng Home to some of the finest year- Frecbff and Mountam vew o�erboking tfie F�diff wurse and round gdf ond weather in the Consistently ranked among the dispiay�ng sweepmg v�stas of the southwest,the Coochella Vul�y best oourses in Southem Cdifom+o, Cooche9a Valley,the Lakeview has beoome a mecca for those Firecliff und Mounmin Uiew offer Terroce Restaumnt serves up the seeking sheher from the frosty ployers h,vo opportunities to kest best breakfost ond lunch in Phim Oemperotures m die fa1 and winber the�r slulis over a vanety of levels pesert, Wtth superb wews, months on the finest links in the vutley funtasdc fare and refreshing dnnks, W�th the averoge temperoture With Ught fairways,challengmg the Lakeview Terrace Resrourant sdt�ng in the 70s and SOs during bunker plocemenis,dnd and vsta Bar at Desert WiNow the peok seoson,Palm Desert is unfoigmng�robe�Features,Frediff Go1F Resort create the rec�pe for the uMmate destination fo�tfiose ofbers players a true test of the�r an unfwgettable dm ng experienoe bolung irn golf,shopp ng,und fun ydf gome over eighteen thrdhng p�ert Willow Golf Resort is also �n the sun fi� MounUom vew showcases �Q p�mier plaoe to host events in over tfie a gentler s:de of desert golF,with �e Coochelo Vulley From smatl om le Fa�nNa ond scattered "" ' hoGdoys P YS gothenngs m grond events,Desert "�as�'r * Palm Desert �°�s-enough ro keep pfoye�s �Ibw's mulbple venues con ���`# `'�"��� is olsa home on their toes-laid into a mo�estic a�mmodote orry group size up �`.r,� 4,��. �`°.v= (andscope. �'" �y � to the to 400 guests far orry occas�on All shirnng stor B�F�recliff ond Mounto��n Vjew meebng rooms and boHrooms � •` �{�,�� have their own urnque sets of feotu�e breothtalung floorw ceiGng �� �,�,p�R chollenges for pla��ers,and some v�ews of the gol�courses set inbo 0 of the most stunnm v�ews of the mo n�ficent desert londsoo ��*�,�, WiNow Golf 9 g Pe �� valley flaor. Golfers who w�sfi to Groups who wish w toke odwnbage �r wh�ch �P���'take on both courses of the pnsdne weather may olso ���,•� � - features over the seoson need to grob o host their tuncbon on one of Desert ��a� P1ot�num Club Cord,one of the Wllow's(ush ev�t bwns Witfi golf courses desert's best loyaity progroms. fle�uble acoommodotions and for only 5229 for�esidents(f329 expansnre 000enng optons,Desert G � non�es�lents},get deep d;soounts Willow Golf Resort+s the ulbmote ...g ra b a on greEn fees for oordhdders ortd venus for business meebngs,get up ta 3 guests,lessons,dm�ng, ta,�ethers,weddings,ond hohday Platinum Glub mer�hondise,and more.V'�sd porqes. Card, one af the desertwilbw.00mformore �.���undentertainment, � mfnrmo�on ond to purchose ,��ing Mus�c or�d DErnng Under d e s e rt s b e st �f�,�����o� the Stors and speaa)brunches,be - loyatty prog rams. �e1r game,The Rofm Desert Go� sure to check out tf�e cdendar of Academy at desert WUow Golf events at DesertWiN�ow.com � PA,L��1I�. SPF�.1�1105 PF30F�LE VfA SUBMISSION A Platinum C�pportunity From Desert Willow Golf Resort � �� � �� ��A . � . .� ;�,.-. , �: ���� � �*� � � � ��,,, � . ; _ . . . - ,�,,.. �� . .� - . �� ��`.�� �, r . � � �wo, � .. � .� x � � , .�; . � ���., ,,. . ��� �� � , . � , i � "� � �,i��'� �� ��� �� r �,� �'a��s;� , " �X�M � .�.�, � �` �'"a� .� +�� � �` �. � ;�.",�.;. � a�' ^�..- .��,. � "" >e 0�� ,� . _ ,: << : , � ,�W, � . :., ., .: �;r � .... . . � ro� ��":. ,..�, .,... .. .� ' ` ,. `_,` . m*� . . , . . � � i�`��, . �� �+ � � � � ��µ , � ��;, ;y ,'� �w r �.�s �� ,ti'+�� - #�� ,;� i � `�'�r f .�,.. �� ,�;� ���� "� r "I °+r "' C F` ; , � ��� �',� �,,� 0 � � '.� � �1 G��� 'C��" j (P �s � , ` ���, : � � �e�. 1c' ^e • r.3'{. J"d� y. . '"k9A . ,. � �,wt, � � �ifl�. .�.. ¢ ����� z �,���`��� � Desert W�iow Colf Resat b�ts two www.dese�ivv�n+.corrJlgcl3 fa mae reape for an unforgettable dining �'.� +� '�"w*rt � � ofthefirrestgo�'ca�sintt�eSouthen information and to purchase. e�i�ce. F�'`Va., '" Califomia cle,se�t.Fmecli�'and Mamtain For those who need to wo�C on thar Dese�t W�11aw Golf Resort is also the ���"� V�ew. Co�istendy ranked among the �,'�e Palm De�tt Golf Academy premier place to host events in the best courses in Southem Califomia, at De�t W�aw Gdf Resat's a watld Ca�Va➢ey.Erom sma9 gatlieirgs F:�: w.,,,��- . ; F�ediff arul Mowtain Vfew ofl'er p}ayss das�s golf ir�imcbion faa7ity FeatiQing ro�and euails,Desat Wi�s multiple "`;��,� two apportunides to test their skilLs PGA ce�ti6ed private inswcbon and venues can accommadate anY�P �, � � �.�: ova a variety of leveJs on the 6nest �daacsyearcamd'!t►e�a6n Deset size up to 400 guesls for any oocasion W. ti�s in the�raltey. With dght fai►vvays, Coll'A�ry also offers a fWl-savice A�me�rrg�and l�oaa�s f�tue € + challenging bunk�placanents,and d�fitting o�t�r,with a�of the maja breathtaldng Ooor-to-celing views of � ,� , unforgiving water features,�'irecliff �,�P�B�P P�Y�with the the gdf ca�es set into a magrri6oent � r ;�'� � <, o@'�players a true test oF their gal� ��tools and ir�tructirnt they need dese�t land9rap� Graips wl�wish to t garne over eigt�teen tluilling holes. to ele�te tl�'game to the ne�d(e�. take a�t�tage of tlte pmrir�e w�the' �.,_. : . � Mountain Yew stwwcases a gender Before or after a round of olf,the may a�o l�st their func�on one of 9de a�'des�t gol�with am�le F�virays Iakeview Terr�e Ratawant agixl V'�a Dese�t 1N�rnJs hah c�t hw►�s.lNith Home to some of the finest y�ear- and sratteed ha�ards �to l� ���� round olf and weather in the on d�r toes-Faid mtoa Bar are the ideal spots to grab a °� Southwes,t,the Coachdla Vall hac lan� �� delectable meal and a cool beve�age. catering op6ons.De�t WiAow Golf become a mecca far those s� � Offering outdoor seating overiaoldng �esat a the ui6unate�Fa b�ss � Bod�Fsediffand Mo�tain V'�w ha� the E'irecJ�f�course and displaying ��"t���� �elter finm the 6nsty tempe,atures the�r awn unique sets of d�all�ges fa vis�of d�e Coache�a VaIl hd�Y 1�� in the fall and winter months. ����� �� �'� P�Y� � t1�el.alcevicwTer�eRe�a�nants�ves Faryear-roimd�t�t,�mg With the ave�age tempe,ature�tiinng views of the valley floor. Gaaf�who �������p� �y���Under the Stars and in the 70s and 80s during the peak w�h to repeatedty h�lce on both� Dec�t With superb views,fantastic spedal biunches.be scue to check out season,Palm Desert is the ultimate a�these�onneedbograbaPlatinum ������� the catendar of events at destination for these looking for golf, Ctub Card,one of the desert's best Tecrace Restaurant and Vista Bar at Dese�tW�taw.cwn. stmpping,and fun in the sun ov�the loyalry programs. Fa�only$229 for p���a,,�,���rt aeate the holida}5. Pahn Des�t is also home to nesidents(�329 nrn�-�,get c�eP `n�Sn�Sc�°f`�d�c°�' �"���'F�f��at� For one of the best e nences in the Coachella Desert Willow Golf Resort,which and up to ttuee gu�t,lessocs,�5�ring, � � features waid-dass galf caases and ���,a�. �� Valley, make sure to visit Desert Willaw Golf 'sthe�ar��nuefarexga�ted'a+a� Platinum Club Card online before RCSOTt,Canada's favorite desert destination. �a�m���. o�co�i,zoi3�a�$�o. v�c sz � � . .` ; I � � , - , � ���''= �c :# � � r a � � :5r., y � Yl f�yy ' .,+ty P'-� •.;Y, �` /y ,.�.fC � � E � 4� ,.� � r �.� r,•� c (� �; , � � �,, 4� � � ' � � � �a � � ` "' �, r► * � � v (y� � ' f I 1���. .� � + 1 w y ���� ., �r �, � +� �' � �«.. , ` r»,, k �. � .�y'�w....:....a�7f � . � ,..� `�1/1 . , , -7 � ; �},.. � . � ,1 � � t � v, a ��i . i � �� i $ � `� �'"; i '�d M"' •� � > S �w i ► . ...,... �, L � � ► ,p 01 , N3 . C . C � �. L ,� b �I .�.�' z � � � P d ' N Ebo ° , � 3 ' u� � c � � �u y �, : a v � O .0 .� y C � � i0 U '� '. 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C T {, C � � .,�p .� � .Y. �} � a � �� p � �, a O $ 5� � � .x u j � � g � �_. o y � � � � �., �� �1 � � •`� � ,� m ,.M �, �i o ° ' � � _ � N c ^o � � � � `� . � p y �y "-- 7 .a�pt � ;? ��i �'; ��-0 l� W f�1. � b1 � L� S J O N V . . �. y � � � � �-----�", � � � �.� � ....., . .... . . .,..- . . ., � , .,: . :�, Y � � , .. .. . . . . , ,,.... k. �. � . ry .,�.-. �, , � WHE:N WE'RE ON THE WE`STCOAST. ::;�.�C�IJf���'�?��E:C7i.`f•?P�fll.l a''"-�'!,�"� a�� w,�,��: �� , �' ;a� a�.�'��. �hen Ptercc Counly c�cculncs faccd a dec�s�on o�cr whni to �„ �" d o«i t h t h e v o l d g rn�c l p i t o n d u P u g e t S o u n d s h o r c,�u s t o u t s�d c T a- W A S H I N G T O N ""�� coma,Wash,anJ aboul 45 nnnutes soulh of do�umo+vn Scoulc,some- .. ��� � � � one suggcsteJ iher budd a golf course � �,���, `;w- God bless thal glorwi�s person Y No«olmos�n decade Ifltcr,galfcrs cn�ov ihc Imks a�Chambcrs Day ,-.-.,.A,....������ (��w��chumbersbnygolf can)one ofAmerun's most umque golf�en- � ` +�► "`�"' "'� ues a roklmg,roll�ckmg I�mc machme wdh ao unbcala6le�ie��,lo �"''" "'�""M�����""" y . .M. �,, - w �... boot It's more Ardglass than Augusta,�wth countq-clu6 conditionmg � �`����w �` � ' �` "�"`' �`�:�`-� repiaced by firm,fust fa�n�ays And long grasses crisp pmes and color- « . "-'���«+ �� ��"""�sr,. ' ���'�.. ful aznleus replaced by n smgte tree,Lone fir,slnndmg scntmel beh�nd �;'�""�- ��'��'' v �"�� y` � � ` � ' the iconic I Sth green,backdropped by the stunning Pugei Sound � ' � . . '• t� �' In less than hvo yeurs'time,the entire world will step onto Ihc first � �.� - � »,�` lee alongside Tiger Woods,Rory Mcllroy,Phil Mickelson and golf's • ;; ""x�` 4��'�iwu,'� � � "`^ grcuts for the U.S Open Untd ihen,Chambers Boy's secrcts nre for �'�� `<""� "� '• � '_ �= � = � " � Ihe public to d�sco�er and thcy're a wonder to behold. d� �� ' ' �y �� � ��., ����,-. _ � _,�. � ,�,��,,� �3u.���`"�� ., OREGON ' ° "° � � � bout two-and-a-half hours southeast of Portland,in the heart of lhe fnmed Central Oregon golf Meccp,is Black Butte Ranch,n 19th- century canle and horse ranch reinvented as a fi�e-star golf resort, with hiking and b�king trails,public parks,a full-sen�ice health spa,a sprewling pool comples,waterslides,horseback riding,ri�er rafting, ' . ,�� ;� '"� � Y �:�� und two of the top 18-hole golf courses in the region. ' � "" ' ` � �'�" That includes the original Big Meado�v,with its open Iayout and �f' '�` brealhtakmg mountain�iews,and the recently-renovated Glaze Mead- � , ow,a tighter,st�ffer test of shot-making ability.Two-night packages in ' ''' "`��Q��``Y���'„� a rnnch home start as low as$240 per person for a two-n�ght stay,two � t `�`'� y ������ mesds and two days of unlimrted golf on both courses. �^��� �� "`� "'' `"t ���# ` "It's an unhurried,relaxed lifestyle,"says Kendal Daiger,the rc- �,�������,: ,,� ' " ';, , sort's director of marketing. "We're qweter and more tranquil than �`� i ;� ,° xs� _ � muny of the other resoAs.It's an experience unf ike any other in Central r ,,rt , ��L' Oregon."Ptan your trip at BlackButteRanch.com. l�3 w y sr���s�"�q�,4�.' �� <.£�a7.r�, �ESERT WILLOW RESORT olfers��ill ahvays follow the birdies- and birdies fly south PALM DESERT • cA for the tivinter. No reg�on caters to snowbirds like Palm Springs,with 40,000 acres of golf coursc greenery,thousands of rental homes and resorts.And wheri we go to Palm Spnngs,we start at Desert W�IIo�¢ ' ��"��`�""'�,'���?'�'�'�� � r,,W��,� �, � �` �� �� Sure,it may not ha�e the name recognition of La Quintn Resort or CA LI F�R N I A � �' ` � � fi F; Indian Wells,but what it does have are two fantastic courses-- the ?1 r T � �T,� �,, .,7 ,x n � ra��' , � Firecliffand Mounta�n Veew--an award-�vinn�ng restaurant,and one �� � '� �� �, ,� � �,r ," ��":' of the best deals in the desert.Desert Willow's PlaGnum Ctub Players , k . „�➢, �'t � ,;;;,�„ r'' ,� Card lets up to four gol fers plu�the resort's hvo courses at a sigmficant F � ,a ��`' �s ��°�`""'� discount—depending on the season and the t�me of day,an�where "'� from 15-55 rcent offthe full rice.Use it ust once at its eak�alue �� '� F�t ' Pe p J P . � and you've sa�ed$420—already more than the$3?9 card. { ,; �'' �� lfs no surprise thet Desert Wdlow earned four-and-a-half stars in „ t „ �°�'�'� Golf Digesl y"Best Places to Play"feature m 2008-09. Perhaps the �� � t �,� "a,h+ '; only surprise is that people keep flocking to other higher-pnced and �� ��� � -�a�„" ��3� ` more well-known courses,whi(e Desert Wdlow remains a favorite of � ` �<, � ' locals,savv}golf travelers... and now,you. "`` �'�� ' � 6 DESTINATIDN 60LFER �� �� ���� � �� � w'` F.' 4,�` � � M u,;: � .� °� r �, � �. � 'M . p� �' � � � � P'fi. 61 I �' '�" .. �.W,y c J '.i . k r, P � � �x `I I �I I` '� _ % '�� �� ��:,�yt� �"'�w:���,�t� -'s :��a � �M� � � ,i:: �'�: � I � Hf�.�e? 'tf '*�NlO �� �p. ;.e,: . m �.., � , .. ,'. . .r+iaa-. . �.,T '�f' Z� �� � p}IItlY� � — x`3� �s ,r,. . . ' r ,, . �. �, �, . .; r, � �' ..,, w,. ` : ' , , . . 4yf.> ' ... , +� �', �� ` ��':: '. . ... "+a .. • : ,... �� I � ... . :.:I. , ,�� 4 ... .. .. �t � � 1 y�� i�a�' 1�J�,:E � a✓�,,.. . .�� f :S'N' . . l I ` � f . �y . 1},,.1 :, ;e.N��' � _ _ ,. .. �� � 1 ' 'y:. .; ., l ��., ,p .� � ,r � a'$^ � "- ��xa..� , � � ; � ti , t � , "'�& _ . ��� �� . ' ' ,n. � � .. ; ,� �� � + , .# iej�, ,F, ,� �. , ��� �� � �� � �� ��; �� � � . o� � ` ` . . . . . ..,. t �.. � � - . .., ,. �R �� � . . ,x ..�y � , ns" i 1 � �/ / � • � py� ��� �� � �" Y,� � IrFi �+.M � ! � .. �y�, W !� ��`+�4° �y�' � � :::��� �° {�� � � �:.,.� � Sµ +'i)14"'3 ^ ,.. .. �. ..:� � � , •. .� yA � y� ' � n �� � . _�� � _ � � �"""z. . . � _ - z�., .. �,:m,. : -�a+w .._...,_- � ..�. �� .vm,�.:.� .�.., . . . � " ����� , � � .,�� ;�s� "�,�. ,. �� ��� � :v'� . � ��"�� � Unwind at Desert Willow"Uncorked":An Evening of Food and Win�Samp�e the finest selections from up to ,,4 �¢�,,�., , 50 wineries,perfectly paired with gourmet cuisine,al�set to Iive music,with the most breathtaking views in Palm Desert. Tickets are reguired and wiU seU out quickly,make sure to purchase in advance. For Ttckets Vuit www desertwillow comluncorked or Call�GO.346.0015 ;,4 , FaUbrook...RobertCraig....EveningLand.,..Dutton Goldfield....Merryvale....Starmont....Ti�crria.... Hope Farnily....Wa1t....Pahlmeyer....St.Francu....Cakebread....Louis jado�..Napa Cellars....Folie a Deaux... Dona Paula....Hahn....Smith anct Flook....Kenwood...jack Landon...Art�sa....F.lements....Seghesia... C�arles Smith....Hess CoUection....Benziger....Black Stallrrnr....Brazin....LangeT�vins....Don and Sons.... Aquinas....Project Paso....Emeritus....Rutherford Ranch....AND MA]Vl;MANYMORE 2014 ,m � , �orted and Domestic Cheese Duplay with An Assortment of Breads....Chancuterie an Antipasti Disptay.... , A � Roasted Vegetable Display....Ca�snrSalad Drsplay....Mushmom Risotta...RatatouiAe....Steak au Poivr�... `� � Grayfuh Bolognese,Butternut Squash Ravroli,ancl Lasagrra Pcuta Station....Sauteeri Div�r Scallops....Dessert Stutrvn induding Homemade Pies,Cheesecak�Trramisu,Chocolate Pi�Pmline Pu,�'s,Atmond Cak�and �' C.hocolate Covered Bananas .�esert � , : ���►�-��s.�o....�c�r�-�ss000 T�T� V : •rriauperpasonandusu�eCrmmxandgmdu�sdmaulc.wb�Cawd�ngc�daurno�M,estlxa�rrus�a�o.oidaw�rrd. r r 3&995 Desert Witlow I?rive�Palm DeserK CA�92260�760.346.0(115�wwwdesertwillowcom/unwrked Golf R�sort � nwrad w�mrringcdj•cotjoudngs•we,dd�►e�.Banque�•scrnic nrni�•7he Patm Drse►c GoljAcademy.Buan�s a�rngs p���}�'�,�"J' S �.. ai I , 4' \� '1 �,�^����I��`A^ ` ,,' .. . p� �� ... +�I '1�'�. 1 .T�y�. . 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Come on down,see all the classic cars,enjoy live music,have an amazing dinner and just = have a great time. : Lntert�inn�ent T� The Carmens Music Duo Di►�ner Menu � Seafood Display with Shrim�and Crab Claws(Caprese,W ,Roasted Vegetable and Caesar CIASSIC CAR SHOWCASE salads��otato Ham Salad with Dark Beer Dressu�g�Bransed Shanks Shepherd's Pie�Salmon � l �-7I�M ����oli �Steakau Poivre Chicken Cordon leu with Polenta Ravioli with Cream Sauce� T Green Bean Casserole�Cherries J�ubilee CONCERT AN D DII�IN ER ; Reservations are required and will fill up quickly,make sure to book in advance. 1 ! ���l.l�1 V l Classic 4:.ar Owner4 call Jerry Martin at 7b0.i�.8965 or email jerrs�;a�lpaseo�ruisenight.corn Genaal Public call 760.346.0015.Auxilary Lot reserved for Classic Cars Nmited to loo cars) , '�� . ��''�'� � Pricin :C1a�cCar Owners-$35.00�General Public-$49.0(} ,� ;�.�� �� ����: .��.���������� Desert . � �� r�.,.a�a... --�I�..�� ,,. .. � � � ,..~�.� � .. � ��R��c,�u 7G0.346.(1�15 (c��c�o��catt 7�Q.34b.8965 � ;�8 995 Desert t�'�lhriw Drive I Palm Desert,CA�92260�{76(})346-0015(rvwwdesertwillowcom/upcomingev�etrts �Resort � � Desert ��ill Golf Resort Calendar of Events 2013-2014 September • GridIron Challenge: 5t'�, 9t',,16�'�, 2S��d, SOt', ' October • Wednesday Night Twilight Buffet 9th, �sth, 23�'�', soT'� • Music &Dining Under the Stars: 24'�' November • Thanksgiving Buffet: 28t', December • Holiday Luncheon Buffet: 12t'� • Holiday Dinner Dance: 18th � January • Music &Dining Under the Stars: 23r'� February • Music &Dining Under the Stars: 6r''& 20�'' March • Music &Dining Under the Stars: si'�& 20�' April � • Easter Brunch 20�'� • Classic Cars Under the Stars 19�h May • DWGR"Uncorked"Evening of Wine &Food: 5"� � • Mother's Day Brunch: 11�'� n O m�n��� I N I ro N r I � I �e e m ro N�ro n m O { � ' ��M�n n M M I N f � 7 W E O O N V r S N � Vy �R N q � b� �N��N��� n �e ro a�r m N N b 1 — �n N V�O ro i N O�� � b N N �N����V N N O Q b�N�N d � � � � M r M ��� O n _ m M N M��O� m ��N � N - � � � C V f0 N O � � f � OD Q m I I i � � � � E i a�� a��a� �� I a j �a � i a� � o m o m��o:��a� � �� � � o�6�`�8°��' � � 1 °�0 � � � �m���m� � � i m o i °' s8� °' . � � � � _ � ; � °' �' � � : ; i : ; I `o a � � i i j i I j �a '; • � : i � i ! i i i � � i j � j i i I V'r O O C<O � 00 I <O O�1 N I O i �V�D f�0 M n Np�N m O 7 b i m O W�tD r N O i � I � b � aD N M�M Oi fD f�[O<ch i 7 Q�CJ th r O�� � N aoro`vaor m _ _ � ^ � q N O? 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