Fairways Inverness Ltd, of which property tycoons David Cameron and David Sutherland are directors, said in a letter to members through a third party that "continued losses” as the main reasoning behind the move.
The 18-hole course will close at the end of February, though a nine-hole course will remain open, as well as a driving range.
“They have not engaged with the people who play the course at all," club captain Jamie Gordon told the Press & Journal. "The first I knew about it was through the letter.
“There was a real family and inclusive vibe around the place. Kids were always welcome and my wee boy would be crawling round next to me as I was on the putting green.
“We had a few senior members and for them, it might have been the only opportunity for them to get out of the home. We might lose that now.”
This closure comes on the back of Eastwood, Mount Ellen and Letham Grange all going out of business last year due to dwindling memberships.
Other clubs to fall by the wayside in recent years include Lothianburn, Torphin Hill and Brunston Castle.
Earlier this week, it emerged that Glasgow City Council is planning to close five of its six municipal courses as part of a plan to plug a funding black hole.