Golf Inc. - October 2008 - (Page 7)

Top News Movers&Shakers also mature golf markets, he said, but he expects to see rapid growth in Eastern Europe. Despite recent excitement over many new courses in Eastern Europe and the Middle East, the report shows that Western Europe, Great Britain and Ireland still make up the strongest parts of the golf industry in the EMA. Europe overall has more than 90 percent of both the golf supply and the demand, the study found. “That’s primarily the result of more publicly accessible courses being built in Europe as well as the huge resort development in Spain,” said Michael Longshaw, CEO of International Golf & Resort Management. McNulty said tourism is growing everywhere around the globe in the 21st century and many emerging countries will use golf to promote themselves to visitors. Other findings: ■ In 2006 more than 160 new golf courses and 100 course expansions were under way in the EMA, totaling an investment of €4 billion – about twothirds of what was being spent in the United States. ■ The golf real estate business in the EMA is now five times bigger than the investment in golf courses themselves. ■ Golf tourism is now worth €6.5 billion in total revenue with half spent in Western Europe: France, Italy and especially Spain and Portugal. Peter Rummell CEO Nicklaus Cos. Rummell’s retirement as chief executive officer of The St. Joe Company didn’t last long. Although he called it a career with Florida’s largest landowner in May after helping build St. Joe into one of the country’s leading homebuilders, Rummell couldn’t resist the call from Jack Nicklaus and the Nicklaus Cos. business partner, New York Private Bank & Trust. The 62-year-old Rummell in August became CEO of the Nicklaus Cos. With Nicklaus remaining as chairman, Rummell will oversee the course design, community development, product and services licensing and marketing of the Nicklaus enterprises. He also will serve as CEO of the NicklausMilstein Fund, created to take advantage of development and investment opportunities generated through the work of the Nicklaus course architecture firm. A former president of Disney Development Co., Rummell’s golf background includes a stint as general manager of Sawgrass (now TPC Sawgrass) in Ponte Vedra, Fla., for the Arvida Corp. Rummell also has worked with the Sea Pines Co., developer of golf resort properties on Hilton Head Island, S.C., and Amelia Island, Fla. Upcoming Events October November 161 181920 7 Sixth Annual Business Management Institute International Conference, London, Club Managers Assn. of Europe/ Club Managers Assn. of America. Berlin, 567 3rd European Golf Business Conference European Golf Course Owners Association November November 10 11 World Golf Hall of Fame induction ceremonies and Golf 20/20 Forum, World Golf Village, St. Augustine, Fla. 24 25 26 Asia Golf Industry Show, New Delhi, India Awards & Honors Annika Sorenstam was honored as winner of the Christer Lindberg Bowl by the PGA of Europe for her efforts at promoting the game of golf globally. Indian Canyons Golf Resort in Palm Springs, Calif., was presented a “Best of Palm Springs” Award as a top tourist attraction by the U.S. Local Business Association. October 2008 www.GolfIncMagazine.com 7 http://www.GolfIncMagazine.com

Table of Contents Feed for the Digital Edition of Golf Inc. - October 2008

Golf Inc. - October 2008 Contents From the Editors: Smaller is Less Costly Survey Reveal Golf's Economic Impact in EMA Private Club Managers Earn Bigger Salaries Dyes Mourn Loss of Family Member Changing Demographics Impact European Golf Scene RDC Golf Group Finds Affordable Golf Niche Links at Summerly Offers Unique Twist Cost Crunch Most Powerful People in Golf Contractors Focus on Renovations, International�Projects Troon, IMG Reach Into Booming Middle East Market Americas Recap: New Player Design in Mexico Europe-Africa Recap: Moroccan Lakeside Development Asia-Australia Recap: 3 Billion Dollar Resort in Vietnam The Last Word: There's No Substitute for Good Friends on a Golf Course

Golf Inc. - October 2008

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