The Pellucid Perspective - August 2017 - 12

MARKET FOCUS

Boston metrics favorable, but more rounds needed
Boston, MA Core Business Statistical Area (CBSA)

I

n this monthly section we profile one of the Top 25 US Golf
Markets based on a Pellucid composite score of the golfer
base, the supply level and rounds demand. Within that Top
25 universe, we then rank them based on relative health using a
Pellucid weighted scoring system on 8 variables ranging from
Population Growth to Estimated Profitability-per-Available
Round. In this issue, we'll profile the 15th healthiest market,
the Boston MA Metro Core Business Statistical Area (CBSA).
With its well-known political left-leaning, Boston is proof
that golf rises above politics and is one thing that Democrats and
Republicans can likely agree on. While neither GOLF Magazine nor Golf Digest have yet done a survey or run a story on
golf participation among the LGBT population (wait it's coming...), you can be sure that some part of the Boston residents
will be enlisted in that effort and we'll also likely discover that
golf is gender-blind as well (although women might tell you
otherwise and the fact that we continue at only 25% of golfers

With its well-known political
left-leaning, Boston is
proof that golf rises above
politics and is one thing that
Democrats and Republicans
can likely agree on.
being women would probably support their case). Regardless,
Boston seems to like golf as much, if not more, than many other
of the major metro areas in the US. When it's not snowing,
they're playing.
By rounds demand (one of our 3 selection criteria for initial
inclusion in the Top 25 list), the Boston CBSA ranks number 7
among US markets with facility-reported annual demand of just
under 7M rounds. (That facility-reported tally counts both local
and tourist play). Looking at the golf consumer base, we see
that the Boston CBSA is home to a healthy local golfer base of
roughly 509K golfers (5th ranking in the US, remember this is
only local, resident population, doesn't count the tourist crowd).
That golfer base is served by a reasonable supply amount of 183
18-hole equivalents (EHE), producing a healthy ratio of roughly
2.8K local resident golfers per EHE, well above the national average.
The supply mix vs. the national distribution across Pellucid's
five access/value/usage segments skews to Private at 33% of total
holes compared to the national average of 27%. The Private vs.
Public access balance is 33%/67%, differing from the national
average of 27%/73%. The balance of Value-added golf supply

12 The Pellucid PersPecTive

Private

PublicPremium

PublicValue

Golfer Base
- Est. # of Golfers (Ks)
- # of 18 Hole Equivalent Facilities
- Golfers per 18-Hole Equiv.

PublicPrice

Learning
& Practice

Boston, MA
CBSA

Supply Mix
- Private
- Pub-Prem
- Pub-Val
- Pub-Price
- Learn & Prac

Tot US

Index
vs. US

508.8 23,400
183 14,672
2,788 1,595

179

33%
17%
27%
15%
9%

27%
23%
28%
16%
6%

123
73
95
91
151

17%
-10%

9%
-12%

186
89

-27%

-21%

131

29.3

33.8

87

54%
56%
$1,368 $1,155
$25
$19

96
118
132

Supply/Demand Balance
- '00-'13 Cume Supply Growth/Decline*
- '00-'13 Cume Rds Demand Growth/
Decline*
- '00-'13 Cume Mkt Supply Dilution
(-)/Absorption (+) Level* **
- Avg Ann Rds Velocity (Ks per 18-hole
vs. ks) (EHE)
Rounds & GF Revenue Health
- % Utilization Rate
- Avg. Ann. Rev. per Public
Regulation EHE ($Ks)
- Revenue per Available Round
(RevpAR)

Future
Facility

* Inverse index, lower is better
** Period % Chng in Rds vs. Period % Chng in Supply

Above average level vs. US (Index >105)
Average level vs. US (Index 95-104)
Below average level vs. US (Index <95)

August 2017



Table of Contents for the Digital Edition of The Pellucid Perspective - August 2017

TOC
Like snowflakes, each golf course is unique
Golf equipment direct-to-consumer distribution: Force to be reckoned with or passing fad?
Parsons and PXG take club fitting to a new level, and price point
July golf weather impact: Much-needed national “bounce”
Boston metrics favorable, but more rounds needed
Moving day for the PGA, and Justin Thomas
The Pellucid Perspective - August 2017 - TOC
The Pellucid Perspective - August 2017 - Like snowflakes, each golf course is unique
The Pellucid Perspective - August 2017 - 3
The Pellucid Perspective - August 2017 - 4
The Pellucid Perspective - August 2017 - Golf equipment direct-to-consumer distribution: Force to be reckoned with or passing fad?
The Pellucid Perspective - August 2017 - 6
The Pellucid Perspective - August 2017 - Parsons and PXG take club fitting to a new level, and price point
The Pellucid Perspective - August 2017 - 8
The Pellucid Perspective - August 2017 - July golf weather impact: Much-needed national “bounce”
The Pellucid Perspective - August 2017 - 10
The Pellucid Perspective - August 2017 - 11
The Pellucid Perspective - August 2017 - Boston metrics favorable, but more rounds needed
The Pellucid Perspective - August 2017 - 13
The Pellucid Perspective - August 2017 - 14
The Pellucid Perspective - August 2017 - Moving day for the PGA, and Justin Thomas
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