The Kelowna Yacht Club is bleeding money — hundreds of thousands of dollars.
Documents obtained by Global Okanagan News show the club’s projected operating loss for fiscal year 2017 is $562,000 and that number could increase next year.
Club spokesman, Kent Hardisty, said the bulk of their money problems stem from the weather — a wet spring and smoky skies in the summer, kept members away.
“The weather and other incidentals came together to make it such we’re in a bit of a cash squeeze,” he said.
So the club is looking at a number of options including downsizing the lounge.
“It’s something that we’re looking at with a critical eye in terms of reducing the footprint a little bit,” Hardisty said.
One move the club has already undertaken is the removal of GM Sally Howard. She was let go at the beginning of the month. And there’s talk of cutting more staff.
“There will be a significant change to the numbers in terms of attrition. We have natural attrition that occurs at this time of year. And we will have to restructure and downsize in certain other areas,” Hardisty said.
The yacht club is also looking at charging members an additional $350 this year to make up for the shortfall.
Marguerite Berry has been a member for more than 20 years. She said the solution to making the club profitable is getting back to basics.
“We’ve had slanted surveys that said we want white linen, table cloths, a maitre-D and three people telling us where we can and can’t sit. That’s not what we want. We want a place to bring our family and friends. We want a pub-style atmosphere,” she said.
Members will vote on the restructuring plan next week.
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