Private Golf courses in big trouble?
Wondering what everyone's thoughts are on the financial health of private golf courses around Calgary.
I know the Elks (sorry, "The Winston") are open for new members, although those new members will get hit with some heft specail assesments over the next few years to pay for the brand new clubhouse they are building.
I have heard radio advertisements for Silver Springs, which used to always have a waiting list, it's now wide open for full memberships.
What do you think? Are deomgraphics and changings tastesw going to spell disaster for these private courses? Or is this just a short-term thing?
I like golf, but I can't understand the economics of being a member somewhere. I think I worked out at the Elks you'd have to golf more than 200 times a year to "break even" on a membership. That seems difficult, so really, you'd better be the sort of person who enjoys being part of a club and feels that alone has some significant value.
Re: Private Golf courses in big trouble?
Quote:
Originally posted by ExtraSlow
Wondering what everyone's thoughts are on the financial health of private golf courses around Calgary.
I know the Elks (sorry, "The Winston") are open for new members, although those new members will get hit with some heft specail assesments over the next few years to pay for the brand new clubhouse they are building.
I have heard radio advertisements for Silver Springs, which used to always have a waiting list, it's now wide open for full memberships.
What do you think? Are deomgraphics and changings tastesw going to spell disaster for these private courses? Or is this just a short-term thing?
I like golf, but I can't understand the economics of being a member somewhere. I think I worked out at the Elks you'd have to golf more than 200 times a year to "break even" on a membership. That seems difficult, so really, you'd better be the sort of person who enjoys being part of a club and feels that alone has some significant value.
Whoa...200 times a year? I think you are doing your math incorrectly or expect a $20 round of golf? Annual dues at the Elks are just under $3900/year. If you golf 50 times a year its just under $80/round.
I used to golf a decent amount 50+ rounds/year and even had an annual membership at the Elks. The issue with golf is time, to play 18 holes by the time you factor in driving to and from is it is 6-7 hours out of the day gone. It never used to take that long to play a round. Last year I played once.
It's all due to what i call the "tiger" effect. Weekend warriors and people who only took up golf because of Tiger are taking minutes to line up putts and pull out gps/range finders for every shot, when they are lucky if they can get to within 20 yards of their intended target. Because of this less people want to golf so courses have to increase rates to cover it. Which reduces your market size, it's all a circle and its causing the death of the game.