You pay as you go at £88 per hour and then IF you have done 9 hours within three months you get the last hour for £8!!.
Seems perfectly reasonable to me. No risk to the pilot if the club goes out of business, but still some encouragement for flying more.
You could also consider organising some flyouts. It helps renters get to know other renters and hopefully some of them will take to flying together in the future.
dp