The Pellucid Perspective - January 2011 - (Page 4)

INDUSTRY SCORECARD Dec YtD Weather Impact, Nov YtD Utilization D ecember weather impact was unfavorable with Golf Playable Hours (GPH) down 18% compared to year ago. This further lowered the Year-to-Date (Ytd) weather impact to -1% vs. year ago but which remains in the neutral zone (+/-2%). YtD regional breadth continues to be negative at 1:1.3 with only 15 regions having favorable weather compared to 20 regions with unfavorable weather. The weekday vs. weekend weather continued unfavorable to weekends which are currently -3% while weekday weather is -1% vs. year ago. December YtD 2010 YtD Capacity Rds, % Chng vs. YA Weekday Capacity Rds % Chng. vs. YA Weekend Capacity Rds % Chng. vs. YA YtD Up/Down Breadth Ratio # of Regions Up # of Regions Down YtD % Utilization Rate (Nov) YtD % Utilization Rate Pt. Chng vs. YA (Nov) –1% –1% –3% 1:1.3 15 20 53% –0.8 pts Looking back on November rounds demand as reported by Golf Datatech/NGF to calculate % Utilization, the Utilization Rate for the month increased 4 points to 57% (comprised of an 11% decrease in Rounds Played against an 18% decrease in Capacity Rounds). For the YtD period, the Utilization Rate climbed slightly to 53% and it remains down 1 point compared to the 2009 year end benchmark rate of 53% (rounding). Jim Koppenhaver comments, “December weather was a combination of unfavorability in some of the key 12-season regions (SE coast, SW desert, SoCal) as well as continued cold and snow in the frostbelt regions compared to a relatively mild December in 2009. As a result, I anticipate we’ll again see a rounds decline figure in the 4-8% range when the December rounds results are released but, with over 97% of the annual rounds in the bank, it won’t have significant impact on the year end results. The positive news coming out of the November rounds was that we increased Utilization, meaning that our “factories” made the most of the poor month when it came to rounds generation. On the facility revenue side via the November PGA PerformanceTrak numbers, the YtD numbers declined slightly to -3% for the All Facility Greens Fee Revenue Median comprised of a 2% decline in Rounds Played (volume) and a 1% decline in Average Revenue per Round (rate). This sets up an interesting question which we’ll explore in our upcoming State of the Industry presentation of “Why, if discounting is so rampant and a major performance factor, aren’t we seeing a higher rounds and lower rate situation in the national performance metrics?” n January 2011 4 The Pellucid PersPecTive

Table of Contents for the Digital Edition of The Pellucid Perspective - January 2011

The Pellucid Perspective - January 2011
Municipal Courses Face Major Property Tax Challenge
Dec YtD Weather Impact, Nov YtD Utilization
2011 Equipment News Highlighted by Acushnet Fate
Is Groupon Good for Golf?
Symposium Examines Varied Aspects of Affordability in Golf
Dallas, Tx Core Business Statistical Area (CBSA)
Yes! Golf the Recession’s Latest Victum
Year of Change for Golf, for Better or Worse?

The Pellucid Perspective - January 2011