The Vintedge x Five Iron
A branded proposal for an ultra-premium, TrackMan-powered three-bay Five Iron Reserve concept positioned to capitalize on the 2026 World Cup window, create a differentiated hospitality amenity, and establish The Vintedge as the first Reserve in the world.
World Cup catalyst
MetLife is scheduled to host eight FIFA World Cup 2026 matches, including the Final.
Launch strategy
Option A is the recommended path: a branded three-bay Reserve concept with the strongest long-term hospitality and membership upside.
Core Year 1 case
Option A pairs a stronger long-term brand position with explicit revenue math, investment scope, and ROI visibility.
Why this works now
A World Cup window meets a hospitality product built for athletes and VIPs.
The Vintedge is positioned as a luxury extended-stay property in Southern Bergen County with premium accommodations, concierge-style service, onsite dining, and direct proximity to MetLife Stadium. That creates a rare opening for an ultra-premium, TrackMan-powered golf and wellness experience that reads as premium hospitality rather than standalone entertainment.
Launch narrative
This is more than a hotel amenity decision. It is a chance to give The Vintedge a fast, branded Five Iron activation timed to the World Cup and premium guest demand.
Southern Bergen County / Meadowlands positioning gives the concept relevance for athletes, sponsors, and premium transient guests.
A Reserve-led Option A aligns with a service-forward, lifestyle-driven asset by creating a branded destination amenity rather than a temporary tactical activation.
Strategic paths
Three options exist, but one now clearly fits the broader opportunity.
Option A — the three-bay licensed Five Iron Reserve — is the recommended path and best matches the property’s premium positioning, guest profile, and long-term brand potential. Option B remains a smaller-format reference point, but not the lead direction.
Option A
3-bay licensed 5i Reserve
The strongest long-term concept for the asset: premium, branded, membership-led, and differentiated enough to define the property.
Three bays, putting green, lounge, lockers, and adjacent wellness.
Membership-led model with hotel-guest, event, programming, and F&B revenue upside.
Opportunity to become the first Five Iron Reserve in the world.
Assessment
The best fit given the property's brand positioning and available space.
Optional layout variant
4 bays without the putting green
If ownership wants to prioritize maximum hitting capacity, Option A can also be studied as a four-bay layout that removes the putting green. At a high level, that version would shift the buildout toward an additional bay, denser simulator spacing, and slightly less lounge-style open area.
Buildout difference
The tradeoff is more bay inventory in exchange for the putting green and some of the softer hospitality breathing room, with a modest increase in golf-package scope and layout intensity.
High-level P&L impact
Financially, the four-bay version would likely require somewhat higher upfront spend, but it could also create more playable capacity, more hourly sell-through, and more membership throughput if demand supports the denser layout.
Recommended concept
5i Reserve: The Right Fit
The recommendation is to pursue the three-bay Reserve concept as the lead product. It gives The Vintedge a more differentiated amenity, an ultra-premium TrackMan-powered buildout, a stronger membership story, and a clearer brand position than a smaller tactical install-only format.
Program element
Three simulator bays
Creates the correct scale for premium member usage, hotel guests, athlete hosting, and VIP programming without making the room feel temporary.
Program element
Integrated wellness adjacency
Pairs the simulator environment with recovery-driven programming so the room reads as a complete Reserve experience rather than a single amenity box.
Program element
Membership-led hospitality model
Supports a credible blend of memberships, guest usage, events, and food-and-beverage capture with enough capacity to feel club-like.
Program element
Ownership-led finishes, SDS design approval
Protects brand quality while keeping the broader architectural finish scope in ownership’s hands.
About Five Iron
The Reserve concept is backed by a proven hospitality golf platform.
Five Iron began in 2017 in New York’s Flatiron District and has grown into a multi-location indoor golf hospitality brand with a mission of making golf more dynamic, entertaining, and inclusive. Its platform blends simulators, instruction, leagues, events, club storage, showers, food and beverage, and social programming into a repeatable operating model.
Five Iron background
2017 origin, New York DNA
Five Iron traces its origin to Fifth Avenue and the Flatiron District, giving Reserve a brand story rooted in hospitality-heavy urban golf rather than generic simulator resale.
Five Iron background
Operationally tested experience
The parent platform already spans simulator use, instruction, event programming, league play, club storage, showers, and food-and-beverage integration.
Five Iron background
Scalable growth platform
Five Iron publicly describes a footprint of 30+ locations and counting, with domestic and international expansion already underway.
Five Iron background
Why that matters for Vintedge
Reserve is not being introduced as a speculative concept alone; it is an extension of a real operating system that can be tailored into a premium hotel environment.
Why SDS
Built by operators, not installers.
Simulator Design Studios brings Five Iron’s operating knowledge into external environments. The value is not just simulator procurement; it is room planning, technical integration, launch readiness, durability, and hospitality-grade programming shaped by real-world usage.
SDS advantage
Premium room planning
The room needs to appeal to athletes, VIPs, and premium extended-stay guests from first impression through repeat use.
SDS advantage
Multi-functional layout
Golf, social use, private hosting, and event programming need to coexist without friction.
SDS advantage
Operator-grade reliability
Cleaner workflows, higher uptime, and fewer avoidable service issues protect the guest experience.
SDS advantage
Brand and programming layer
The bays become a differentiated hospitality product rather than a one-time equipment install.
Membership-led revenue
Premium pricing should anchor the model.
The recommended structure combines core golf memberships with wellness included in the Core and Premium tiers, a standalone resident wellness membership, premium public rates in staffed hours, complimentary member-only overnight access from 10pm to 6am, and protected member pricing after included hours are used. Where available, memberships can also include spa amenities, massage, and locker-room access, elevating an ultra-premium TrackMan-powered Reserve experience beyond commodity simulator access.
Core membership
Club Membership
8 bay hours per month + wellness included + complimentary member-only overnight access (10pm–6am)
Designed for repeat locals, residents, and premium guests who want frequent access, included wellness amenities at no extra cost, and unstaffed overnight play reserved exclusively for members, along with a 7-day booking window that protects preferred tee times.
Premium membership
Executive Membership
16 bay hours per month + wellness included + complimentary member-only overnight access (10pm–6am)
Best suited for athletes, executives, and high-frequency users who want Reserve to function as an ongoing training and hospitality asset with included wellness amenities, added overnight flexibility, and priority 7-day advance booking.
Resident-only access
Resident Wellness Membership
No golf included • spa access included • golf can be booked at member rates
Built for residents who want recurring sauna, cold plunge, locker-room, and spa-oriented access without included golf hours, while still preserving member-rate booking access and a 7-day booking window when they want to reserve a bay.
Wellness-only access
Sauna + Cold Plunge Hour Access
No golf included • hourly wellness circuit access only
This creates a clean non-golf access product for guests and members who want to use the wellness programming only, with pricing intentionally set at 75% of the comparable golf rate.
Hourly access structure
| Time band | Public rate | Member after allotment | Wellness-only access |
|---|---|---|---|
| Overnight (10pm–6am) | Members only | Included | Not offered overnight |
| Off-peak | $95/hr | $65/hr | $71 public / Included free for members |
| Standard | $115/hr | $75/hr | $86 public / Included free for members |
| Peak | $145/hr | $95/hr | $109 public / Included free for members |
Why this pricing architecture matters
The model keeps membership pricing and public hourly pricing decisively premium during the staffed 6am–10pm operating window, which is important for a hospitality product serving high-value guests and special-event demand.
Members also receive complimentary overnight access from 10pm to 6am, reserved exclusively for members and modeled without overnight staffing, while still retaining a meaningful economic advantage after their included hours are used.
The result is a structure that can flex across residents, hotel guests, VIPs, events, and World Cup compression without diluting the Reserve brand or opening overnight inventory to the public, while still rewarding members with earlier booking access.
The resident wellness membership is now included in the current base-case revenue model as a recurring non-bay revenue layer, while wellness-only hourly access remains available as an additional ancillary tool rather than a required input to make the case work.
Expanded P&L view
The economics are compelling — and now the math is explicit.
The revised base case is intentionally more conservative. It assumes 50 Club members at $495 per month, 12 Executive members at $795 per month, 24 resident wellness members at $299 per month, 88% redemption of included member hours, wellness included for both core member tiers, complimentary member-only overnight access from 10pm to 6am, and a revenue base still led by memberships rather than aggressive public sell-through. The resident wellness layer is now included in the modeled revenue below, while wellness-only hourly access remains an optional upside lever.
Monthly base-case revenue
$67,699
Monthly utilized hours
821 hrs / 2,160 hrs capacity
Year 1 EBITDA incl. wellness & F&B
$362,388
Estimated payback
1.6–1.9 years
Revenue math and operating assumptions
| Revenue line | Assumption | Monthly value | Note |
|---|---|---|---|
| Club memberships | 50 members × $495/month | $24,750 | Assumes a measured first-year local and resident member base rather than an immediate full sell-out. |
| Executive memberships | 12 members × $795/month | $9,540 | Keeps the higher-frequency tier deliberately tighter in Year 1 so the case does not depend on unusually fast VIP adoption. |
| Resident wellness memberships | 24 members × $299/month | $7,176 | Introduces a separate wellness-only recurring revenue stream tied to the sauna and cold-plunge program without requiring golf-bay capacity. |
| Included member hours consumed | 592 monthly included hours × 88% redemption | 521 hrs | Base case assumes solid but not full use of allotted hours before paid overage begins. |
| Complimentary overnight member access | 10pm–6am member-only window, modeled at 95 hrs/month | 95 hrs | Overnight usage expands member value and utilization, but it does not create public revenue and is assumed to run without overnight staff. |
| Member overage play | 55 hrs/month × blended $73.50/hr member rate | $4,043 | Paid overage is still modeled only in staffed daytime and evening periods after included hours are used. |
| Public / hotel guest play | 150 hrs/month × blended $112.60/hr public rate | $16,890 | Equivalent to roughly 5 public bay hours sold per day, or about 10.4% of staffed sellable inventory across three bays. |
| Programming & events | $3,000/month | $3,000 | Represents a lighter cadence of clinics, hosted activations, and event-style bookings in an opening-year ramp. |
| Ancillary revenue | $1,200/month | $1,200 | Includes smaller non-bay monetization such as rentals, retail, or service add-ons at a more measured level. |
| Lobby-restaurant F&B gross sales | 200 orders/month × $27.50 average ticket | $5,500 | Modeled as incremental restaurant sales driven by simulator traffic and dwell time through the existing lobby outlet. |
| Included F&B contribution to operating case | $5,500 gross × 20% contribution margin | $1,100 | Only contribution margin is credited to this model, and it is kept conservative relative to the prior draft. |
| Core monthly revenue | $67,699 | Includes recurring lobby-restaurant F&B contribution. | |
| Monthly utilized hours | 521 included + 95 overnight member hours + 55 member overage + 150 public | 821 hrs | Equivalent to roughly 38.0% utilization across three bays operating on a 24/7 basis, with overnight access reserved for members only and public demand limited to staffed hours. |
The member overage rate is blended from the staffed-hour pricing ladder, while the public rate is blended from off-peak, standard, and peak public periods only. Public demand is intentionally capped at a modest share of staffed sellable inventory in the base case, and overnight usage from 10pm to 6am remains a members-only utilization lever rather than a public revenue source. The included F&B revenue stream assumes restaurant sales occur through the existing lobby outlet, with only contribution margin credited to the operating case.
Revenue sensitivity analysis
Conservative
Monthly utilized hours
596
Utilization
27.6%
Monthly revenue
$50,901
Year 1 EBITDA
$160,812
Membership breakout
40 Club members, 8 Executive members, and 18 wellness members.
Public booking assumption
110 public hours per month; ≈3.7 public bay hours per day, or 7.6% of staffed sellable inventory.
Utilization build
381 included redemption + 70 overnight member hours + 35 paid member overage + 110 public hours.
Assumes a slower ramp in both golf memberships and wellness adoption, with lighter public demand, lighter programming volume, and a smaller paid-overage contribution.
Base case
Monthly utilized hours
821
Utilization
38.0%
Monthly revenue
$67,699
Year 1 EBITDA
$362,388
Membership breakout
50 Club members, 12 Executive members, and 24 wellness members.
Public booking assumption
150 public hours per month; ≈5.0 public bay hours per day, or 10.4% of staffed sellable inventory.
Utilization build
521 included redemption + 95 overnight member hours + 55 paid member overage + 150 public hours.
Keeps the model membership-led, adds a realistic wellness-membership layer, and still does not rely on heavy public conversion or unusually strong first-year golf-member usage to work.
Upside
Monthly utilized hours
1072
Utilization
49.6%
Monthly revenue
$87,760
Year 1 EBITDA
$603,120
Membership breakout
60 Club members, 16 Executive members, and 30 wellness members.
Public booking assumption
210 public hours per month; ≈7.0 public bay hours per day, or 14.6% of staffed sellable inventory.
Utilization build
662 included redemption + 120 overnight member hours + 80 paid member overage + 210 public hours.
Assumes stronger but still plausible public sell-through, deeper golf and wellness member adoption, and a healthier cadence of hosted programming without pushing into near-capacity behavior.
Overnight member access is treated as a utilization lever only across all three scenarios. The revenue swing now comes from clearly stated golf and wellness membership counts, paid overage, public sell-through during staffed hours, programming, and ancillary contribution rather than from hidden assumption stacking.
Year 1 operating expense detail
| Expense line | Annual value | Assumption note |
|---|---|---|
| Payroll | $216,000 | $18,000/month based on one staffed operator covering the public-facing window from 6am to 10pm, with overnight member-only access running without on-floor staff. |
| Software subscriptions | $30,000 | $2,500/month for simulator software, booking systems, and related operating tools. |
| Maintenance & service | $24,000 | $2,000/month for simulator upkeep, service calls, and preventive maintenance. |
| Utilities & network | $18,000 | $1,500/month for power, internet, AV/network support, and operating utilities allocable to the space. |
| Marketing | $24,000 | $2,000/month for local awareness, launch support, hotel integration, and premium member acquisition. |
| Supplies & cleaning | $21,600 | $1,800/month for daily readiness, cleaning, towels, consumables, and hospitality supplies. |
| Insurance | $14,400 | $1,200/month placeholder for incremental insurance burden associated with the operation. |
| Misc. admin | $12,000 | $1,000/month for small operating overhead, admin support, and contingency-level miscellaneous spend. |
| Licensing fee | $90,000 | $7,500/month in Year 1 under the proposed licensing structure. |
| Total operating expense | $450,000 | Year 1 opex reflects a full-year monthly licensing fee and excludes ownership-delivered architectural buildout. |
Investment and ROI view
Estimated total investment
$585,000–$700,000
Includes the $50,000 upfront license fee, SDS simulator scope, wellness allowances, ownership buildout range, FF&E, and soft-cost contingency.
ROI on Year 1 EBITDA
51.8%–61.9%
Based on Year 1 EBITDA including F&B contribution versus the estimated total investment range, with midpoint investment at $642,500.
Five-year outlook
The five-year view now rolls forward from the revised base case, layering approximately 2.5% annual revenue growth against roughly 3.1% annual opex growth so the outlook reads as a measured operating ramp rather than an aggressive hockey-stick forecast.
| Year | Revenue | Opex | EBITDA | Margin |
|---|---|---|---|---|
| Year 1 | $812,388 | $450,000 | $362,388 | 44.6% |
| Year 2 | $832,698 | $463,950 | $368,748 | 44.3% |
| Year 3 | $853,515 | $478,332 | $375,183 | 44.0% |
| Year 4 | $874,853 | $493,161 | $381,692 | 43.6% |
| Year 5 | $896,724 | $508,449 | $388,276 | 43.3% |
How to read the model
Membership revenue remains the anchor of the case, with public play, guest usage, and events providing additional upside rather than carrying the entire business.
Overnight access from 10pm to 6am is reserved exclusively for members, modeled as complimentary usage, and paired with no overnight staffing, which increases utilization without inflating public revenue assumptions.
The labor math assumes one staffed operator from 6am to 10pm to support the sellable public window, daily guest service, and on-floor operations, while architectural buildout, finishes, and broader hospitality FF&E remain upfront ownership investment items rather than recurring run-rate costs.
Commercial structure
Straightforward licensing, scoped investment, and clear responsibilities.
The proposed structure keeps the capital stack focused: SDS delivers the simulator environment, operating framework, and Reserve brand layer; ownership delivers the broader finish package subject to SDS design approval. The model also captures lobby-restaurant F&B contribution without forcing Option C’s full build complexity.
| Item | Proposed structure |
|---|---|
| License format | Licensed 5i Reserve |
| Initial term | 5 years |
| Renewal | 5-year renewal option |
| Monthly licensing fee | $7,500 per month |
| Annual escalator | +$250 per month each year |
| Upfront license fee | $50,000 upfront license fee |
| SDS golf package | $250,000 simulator install package + putting green |
| Wellness equipment | Three Cold Stoic 3.0 plunges + one Rusticus 6-person sauna, carried as estimated budget allowances |
| Architectural finishes | Delivered by ownership, subject to SDS design approval |
What the licensing includes
| Included item | Coverage |
|---|---|
| Direct Five Iron support | Ongoing operating support and strategic guidance from the Five Iron platform. |
| Brand asset usage | Use of approved Five Iron Reserve and SDS brand assets within the licensed concept. |
| Marketing support | Launch and go-to-market support aligned with the Reserve positioning. |
| Callaway partnership access | Access to Callaway equipment and partnership channels available through the platform. |
| Staff training materials | Training materials and operating guidance for on-site staff and guest experience execution. |
| Maintenance support | Remote troubleshooting and maintenance support are included; replacement parts and on-site labor are excluded. |
Buildout and investment scope
| Scope item | Budget posture | Note |
|---|---|---|
| SDS-delivered simulator package | $250,000 | Three ultra-premium TrackMan-powered simulator bays, core technology package, and putting green scope. |
| Upfront license fee | $50,000 | One-time upfront license fee paid to Five Iron at deal execution. |
| Cold plunges | $24,000 allowance | Three Cold Stoic 3.0 units assumed at roughly $8,000 each before freight, installation, and final MEP coordination. |
| Sauna | $16,000 allowance | One Rusticus 6-person indoor sauna allowance before electrical, ventilation, and final install coordination. |
| Architectural buildout | $150,000–$220,000 | Walls, flooring, millwork, ceilings, lighting, plumbing, HVAC, life safety, and finish package remain ownership scope, subject to SDS design approval. |
| FF&E beyond golf package | $35,000–$55,000 | Lounge furniture, lockers, decor, and hospitality-layer furnishings to be finalized in design development. |
| Design contingency and soft costs | $60,000–$85,000 | Allows for permit coordination, AV/network integration, delivery conditions, and construction contingency. |
Recommendation
Advance Option A and convert the Reserve concept into a formal commercial package.
The recommended path is to move forward with the three-bay Five Iron Reserve concept as Option A and as the lead hotel-ready recommendation in this proposal. The smaller one-bay format remains available as an alternative, but Reserve carries the commercial story.
Validate the final three-bay Reserve layout, ceiling clearances, and MEP coordination.
Lock the simulator, wellness, and hospitality program scope for the Reserve launch.
Align on finish standards and SDS approval checkpoints for the full Reserve environment.
Convert the Option A Reserve framework into final deal documents and commercial approvals.
Proposal contact
Tommy Ballerini
Five Iron Golf
Reserve is positioned as Five Iron’s newest and most exciting growth concept. The Vintedge has the opportunity to define that launch story from day one.
