The Hong Kong Jockey Club has more than doubled its membership fee.
But the fee is unlikely to be a problem for would-be members, say analysts who point out the economic downturn has left the wealthy relatively unscathed.
The club increased its full membership charge from $120,000 to $250,000 on July 1 and believes it still represents value for money, a spokeswoman said.
There is a two-year waiting list to join the club, which has 12,500 full members and 5,000 'racing members', whose $36,000 joining fee remains unchanged.
Racing members and their guests are entitled to use the members' enclosure and exclusive boxes for all race meetings at Happy Valley and Sha Tin. They can also apply to own racehorses and have exclusive access to designated restaurants and catering facilities.
Full members have the same privileges as racing members plus use of all facilities at the Happy Valley and Sha Tin clubhouses and the Beas River Country Club.