The second article explores the impacts to Golf Facility Financial and Value, hill the third article looks to the future of the industry, and the issues that will shape its health moving forward. Credit must be given to the large number of industry professionals at the show who were speakers, and whose thoughts, ideas and concerns I am liberally using. These insights are a direct result of their expertise and experience, and I would like to thank them for their input.
The Golf Development Cycle Golf development has come full circle since from the beginning of golf’s modern era, and it’s insightful to understand the factors that led to the extensive growth in the name. The golf development cycle provides important context from which to look for clues to the future growth of the game. Looking back to understand the elements that contributed to the modern development era, a path for the industry to realize its full potential becomes clear. The early sass’s were the heyday for the golf industry, and the following were key facets of the industry at that time. ; ; The game of golf was growing in stature, and the future financial prospects for golf course operations looked extremely promising. Golf courses were one of the few government enterprises that could not only pay their operating expenses, but also pay their construction and development costs, and fund other activities as well. New resort and real estate developments, focused on golf, were being developed across the country, and resulted in the transformational evolution of course design, maintenance, and irrigation aspects of the game.
Advances in club and ball technology were also changing the game, and requiring renovation and redesign of many of the existing golf courses. The baby boom generation had grown to the game of golf like none before it, and the aging of this demographic, and their substantial accumulated wealth looked to secure the future of the industry. The stars were aligned for the growth of the game and the development of golf courses. The Golf Industry By Discountenancing day during the sass’s in order to keep up with the projected demand from the baby boomer generation.
The baby boomers would be reaching retirement age and would be at the peak of their golfing careers, causing a huge demand for tee times at courses across the country. The advent of the high-end daily fee golf course was redefining public golf. Pay-for-play golf courses with fees of $100 a round were springing up in metro areas across the country. As the expectations of the golfers grew, golfers sought an experience that was previously available only at private clubs or at exclusive resorts.