Ivy League clubs in New York City are trying to recruit younger members

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Across New York City, some membership clubs are growing in popularity—like Zero Bond, Casa Cipriani, and ZZ’s Club. But others aren’t doing so well.

The city’s Ivy League clubs are struggling and are now trying new ways to attract younger members. The Wall Street Journal reported on Tuesday. These include a more relaxed dress code, events for young alumni, reduced membership fees and even speed dating.

“When you hear people talk about clubs that excite them, they don’t mention university clubs,” real estate developer David Gutstadt told WSJ. Gutstadt’s firm was consulted for renovations at the Princeton Club before it closed in October 2021. (He is also a graduate of the university.) That club lost about a third of its members during the pandemic, a person familiar with the situation told the newspaper, and it failed to repay a $40 million loan tied to the building.

The plight is felt throughout the university club landscape: Since 2016, the Cornell Club has lost between $280,000 and $2.1 million each fiscal year, according to tax returns filed by The Wall Street Journal. The Penn Club has experienced annual net losses in membership for a decade since its founding in the mid-1990s, a member of the club’s leadership told the newspaper. And at the Yale Club, you no longer have to be affiliated with the university to join; you just need the support of at least two existing members. (A representative for the Yale Club declined to comment to the newspaper.) WSJ.)

In response to these trends, clubs are shedding some of the stuffiness with which they have been associated. Instead of suits and ties, some clubs now allow members to wear jeans. Memberships for young alumni are often cheaper, and the Cornell Club even offers free gym memberships to graduates. At the Penn Club, speed dating and late-night networking have helped the institution attract members and recoup losses of recent years. And a Harvard Club spokesperson said: The Wall Street Journal that membership is growing there too. (Perhaps this is because they invite speakers like Alison Roman…)

If these clubs are to continue to be successful in the future, such growth is essential – because as Zack Bates, a consultant to private clubs, told the newspaper, “Their existing members are all dying out.” The question, however, is whether millennials and Generation Z will save college clubs from this slow death.