I thought this might be interesting. It is encouraging to see WR holding its own in this challenging economy.
NGF: Course closings outpace openings in 2011
The number of golf courses in the United States continued to shrink in 2011.
The National Golf Foundation reported today that last year saw the closing of 157.5 18-hole equivilent (18HEQ) golf courses vs. just 19 new openings. That marks the sixth consecutive year that golf course closings have outpaced openings, and represents the largest number of annual closings during that time. All told, more than 358.5 18-hole equivilent golf courses have closed since the market's peak in 2005.
According to the NGF, this "supply-side market correction" has been long overdue for golf as the growth in the number of golfers and rounds played over the past 20 years was not nearly sufficient to support all of the golf courses constructed during the game's boom that began in the early 1990s. Since 1991, the number of 18-hole equivilents in the U.S. has grown by 30 percent, far ahead of the 6.5 percent growth in golfers over that same span.
The National Golf Foundation reported today that last year saw the closing of 157.5 18-hole equivilent (18HEQ) golf courses vs. just 19 new openings. That marks the sixth consecutive year that golf course closings have outpaced openings, and represents the largest number of annual closings during that time. All told, more than 358.5 18-hole equivilent golf courses have closed since the market's peak in 2005.
According to the NGF, this "supply-side market correction" has been long overdue for golf as the growth in the number of golfers and rounds played over the past 20 years was not nearly sufficient to support all of the golf courses constructed during the game's boom that began in the early 1990s. Since 1991, the number of 18-hole equivilents in the U.S. has grown by 30 percent, far ahead of the 6.5 percent growth in golfers over that same span.
"The cumulative reduction in course supply over the past six years has been quite modest, and pales in comparison to the net increase in facilities that occurred over the two decades prior to this recent pullback," said Joe Beditz, the president and CEO of the NGF. "In 2000 alone, we gained 362 courses, and over the 20-year period from 1986-2005, we added more than 4,500 courses (18HEQ). The slow correction that is now occurring is very much overdue and necessary, to help return the golf course business to a more healthy equilibrium between supply and demand." The NGF Golf Facility Supply Index, which tracks the ratio of golfers to golf courses, remained at 83 in 2011. The baseline value of 100 represents the average number of golfers per course (18HEQ) in the U.S. for the five years between 1986-1990. According to the NGF, the index can be viewed as a measure of how busy courses are likely to be, or how difficult or easy it might be to arrange a tee time. The score of 83 means courses are 17 percent less crowded than they were 20 years ago.
