The Pellucid Perspective - August 2010 - (Page 11)

MARKET FOCUS Chicago, IL DMA Private PublicPremium PublicValue PublicPrice Learning & Practice Future Facility Chicago DMA Tot US Golfer Base – Est. # of Golfers (Ms) – # of Facilities – Golfers per 18-Hole Equiv. Supply Mix – Private – Pub-Prem – Pub-Val – Pub-Price – Learn & Prac Supply/Demand Balance – ‘00-’09 Cume Mkt Supply Dilution (-)/Absorption (+) Level* – Avg Ann Rds Velocity (18-hole Equiv.) Rounds & GF Revenue Health – % Utilization Rate – Revenue per Available Round (RevpAR) * Period % Chng in Rds vs. Period % Chng in Supply 1.2 351 3,393 31% 20% 32% 11% 5% –7% 29,000 26.6 15,929 1,774 29% 20% 33% 13% 4% –10% 33,000 C 58% $24 53% $16 hicago is a well-stocked golf market with over 1MM golfers supplied by 351 facilities. This produces an ample consumer base to support the existing supply level of almost 3,400 golfers per EHE. The supply mix is in balance with the national average across Pellucid’s five access/value/ usage segments. Supply growth since 2000 has exceeded demand resulting in a cumulative dilution for existing facilities of 7%, slightly less than the national average of 10% supply dilution. This means, compared to 2000, the average existing operator has suffered an estimated 7% revenue decline due to supply dilution through some combination of velocity and rate erosion. The average facility has throughput of 29K rds/ yr, below the national average. The more accurate comparison, after factoring in season length and average weather, is that Chicago’s 58% utilization exceeds the national average by 5 points. On GF RevpAR (Greens Fee Revenue/Capacity Rounds), Chicago handily beats the national average with a $24 rate driven by a combination of higher utilization and a higher effective greens fee rate. n The Pellucid PersPecTive www.PellucidcorP.com 11 http://WWW.PELLUCIDCORP.COM

Table of Contents for the Digital Edition of The Pellucid Perspective - August 2010

The Pellucid Perspective - August 2010
Table of Contents
Why ANOTHER Golf Publication?
Why ‘Affordable Golf ’ Is In Retreat
July Weather, Many Markets Beat by the Heat
Funds Preparing for Course Buys
Price Is Right for Building
Chicago Market Profile
Free Lunch for Harding Park
Win, Lose or Draw?
Virtual Golf and Soccer Marketing

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