The Pellucid Perspective - April 2011 - (Page 8)

INDUSTRY SCORECARD Mar 2011 YtD weather impact Feb 2011 YtD utilization arch weather impact was unfavorable with Golf Playable Hours (GPH) down 14% compared to year ago. This brought the Year-to-Date (Ytd) weather impact to 0% vs. year ago (even in plain English) which offset the weather gains accumulated in the first two months of the year. Regional breadth for the YtD period remained positive however at 2.2:1 with 13 regions having favorable weather compared to 6 regions with unfavorable weather (1 in the neutral zone and the remaining 25 regions yet to start their season). The weekday vs. weekend M March YtD 2011 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 (Feb ’11) YtD % Utilization Rate Pt. Chng vs. YA (Feb ’11) 0% –2% +7% 2.2:1 13 6 50% –3 pts weather impact was also favorable with weekend GPH up 7% offset slightly by less favorable weekday GPH which was down 2% vs. year ago. Looking back on February rounds demand as reported by Golf Datatech/NGF to calculate % Utilization, the Utilization Rate decreased 6 points to 46% (comprised of a 19% increase in Rounds Played against a 35% increase in Capacity Rounds). For the YtD period, Utilization registered 50% (comprised of a 14% increase in Rounds Played against a 20% increase in Capacity Rounds) which is a 3 point decline vs. the 2010 benchmark utilization rate of 53%. Among the YtD market utilization “winners” were Seattle, Portland and Sacramento while the “biggest losers” were Raleigh, Atlanta and Orlando. Jim Koppenhaver comments, “March snapped our favorable weather winning streak and was a big enough “downer” to offset the favorable weather cushion we had built up through the first two months of the year. The YtD pattern is setting up as favorable for the eastern half of the US while the west has seen widespread unfavorability. Interestingly, although the east is seeing favorable weather, they’re lagging on utilization in that the rounds increases are not keeping pace with the favorable GPH while the west’s rounds declines are generally in line with the weather unfavorability meaning they’re winning the utilization battle thusfar. The rounds results in February were in line with my call of “up double digits” however, given the March GPH results, we’re likely to see a meaningful drop in the March rounds vs. year-ago. So, we enter the beginning of the golf season for the (See Weather on page 11) APril 2011 8 The Pellucid PersPecTive

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

The Pellucid Perspective
Cover Your Asset
NGCOA Ponders Becoming Southwest Airlines?
Is E-Mail Dead?
Foreclosures Opening New Avenues for Managers
Mar 2011 YtD Weather Impact, Feb 2011 YtD Utilization
An App a Day Takes Your Money Away
Comings & Goings
Golf Deals to Forget
Phoenix, AZ Core Business Statistical Area (CBSA)
Can’t Sell Your Home? Call Tullymore Resort

The Pellucid Perspective - April 2011