The Pellucid Perspective - July 2012 - (Page 10)

INDUSTRY SCORECARD Weather impact, flat June closes out spectacular 1st half he torrid pace of favorable weather through May took a breather in June after 5 months of double-digit gains, as Golf Playable Hours (GPH) registered +0.3% (statistically flat) vs. last June at the national level. That slightly eroded the national Year-to-Date (YtD) GPH favorability to +17% vs. the same period year ago. The regional breadth for the YtD period continues to be widely favorable at 13:1 with 38 regions having favorable weather against 3 regions with unfavorable weather (the remaining 4 in the neutral zone of +/- 2%). Looking at performance by T June YtD 2012 YtD Capacity Rds, % Chng vs. YA YtD Up/Down Breadth Ratio # of Regions Up # of Regions Down YtD % Utilization Rate (May ’12) YtD % Utilization Rate Pt. Chng vs. YA (May ’12) YtD +17% 13:1 38 3 49% –4 pts day-of-week, weekday weather continued to be the slightly more dominant factor in favorability, which is slightly less beneficial to the average operator due to the rounds and rate differentials. For the full-year forecast, we saw a slight uptick in the full year GPH forecast, suggesting that we’ll get to keep the bulk of this earlyseason weather “dividend” when the books close in December. The values for the above two metrics as well as market-level Utilization for the preceding month are available to Pellucid Publications Members via the Client section at the Pellucid website (go to www.pellucidcorp.com for information or to subscribe). Looking back on May rounds played (as reported by Golf Datatech/NGF) to calculate the facility Utilization Rate, it comes out as the first Utilization gain month for the year. The May Utilization registered at 54% (comprised of an 8% increase in Played Rounds against a 6% increase in Capacity Rounds), which is 2 points higher than the 2011 year-end value. In other words, May’s rounds demand exceeded the weather favorability. For the YtD period however, Utilization still lags year-ago due primarily to the abnormally high weather favorability. At the market level for Utilization, we continue to see negative breadth with a 1:1.2 ratio of favorable/unfavorable markets comprised of 17 markets up vs. 20 down and 24 in the neutral zone. This suggests that the mosaic of weather variance at the key market level is slightly more nuanced (to the downside) than the more macro regional view, and we’re seeing more separation between “winners” and “losers” in Utilization. July 2012 10 The Pellucid PersPecTive http://www.pellucidcorp.com

Table of Contents for the Digital Edition of The Pellucid Perspective - July 2012

The Pellucid Perspective - July 2012
Contents
More golfers say “good-bye” in 2011
A victory for municipal golf
Golf ’s new frontiers in faraway places
A range of possibilities
Weather impact, flat June closes out spectacular 1st half
Steel City or Iron City, Pittsburgh is a hard golf market
Lowe Enterprises joins Suncadia Resort ownership group
The First Tee: It’s not all about golf

The Pellucid Perspective - July 2012