The Pellucid Perspective - December 2017 - 13

MARKET FOCUS

Atlanta golf market conditions far from peachy
Atlanta GA 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 of 8 variables ranging from
Population Growth to Estimated Profitability-per-Available
Round. In this issue, we'll profile the 19th healthiest market,
the Atlanta, GA Metro Core Business Statistical Area (CBSA).
Home to the ubiquitous Peachtree streets (71 variations according to Google), Atlanta has gone through numerous evolutions as a golf market. Back in the late 1980s/early 1990s,
the northern suburbs had a dearth of public-access golf courses
and the private club model was $20K down and $300+ monthly
dues. Around the turn of the century, country-club-for-a-day
golf exploded as the suburban developers built real estate amenity golf like swimming pools. Following that, Joe Guerra and
Canongate moved in and created a very successful "value-based"
private club membership network that was the right product for
the right time (and sold
it subsequently for a tidy
Around the turn of profit). What the next
the century, country- chapter will be for Atlanta golf, no one really
club-for-a-day golf knows but, while we're
waiting for that, let's take
exploded as the
a look at the current marsuburban develop- ket health metrics and
ers built real estate performance.
By rounds demand
amenity golf like (one of our 3 selection
criteria for initial incluswimming pools.
sion in the Top 25 list),
the Atlanta CBSA ranks
17th among US markets with facility-reported annual demand
of just under 5M rounds (that facility-reported tally counts
both local and tourist play). Looking at the golf consumer base,
we see that Atlanta is home to a healthy local golfer base of
roughly 0.4M golfers (ranking 14th 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
170 18-hole equivalents (EHE), producing a healthy ratio of
roughly 2.3K 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 heavily to Private at 46%
of total holes compared to the national average of 27% (wow).
The Private vs. Public access balance is 46%/54% which is considerably skewed to Private vs. the national average of 27%/73%.
The balance of Value-added golf supply (Private & Public-Pre-

www.PellucidCorp.com

Private

PublicPremium

PublicValue

PublicPrice

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

Learning
& Practice

Atlanta, GA
CBSA

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

Tot US

Index
vs. US

391.4 22,900
170 14,672
2,302 1,561

148

46%
11%
23%
14%
6%

27%
23%
28%
16%
6%

169
50
83
85
103

14%
-8%

9%
-12%

157
67

-22%

-21%

106

21.0

26.7

79

29%
56%
$752 $1,155
$10
$19

52
65
53

* 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)

The Pellucid PersPecTive

13


http://www.PellucidcorP.com

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

TOC
USGA slips bonds of reality with latest thinking on ball regulations
Course closures can be mythbusting
Storied desert club charts new course
November golf weather impact: Double-digit drop, year sags slightly
Atlanta golf market conditions far from peachy
Shark Experience unlikely to break golf ’s chains
The Pellucid Perspective - December 2017 - TOC
The Pellucid Perspective - December 2017 - USGA slips bonds of reality with latest thinking on ball regulations
The Pellucid Perspective - December 2017 - 3
The Pellucid Perspective - December 2017 - 4
The Pellucid Perspective - December 2017 - Course closures can be mythbusting
The Pellucid Perspective - December 2017 - 6
The Pellucid Perspective - December 2017 - Storied desert club charts new course
The Pellucid Perspective - December 2017 - 8
The Pellucid Perspective - December 2017 - 9
The Pellucid Perspective - December 2017 - November golf weather impact: Double-digit drop, year sags slightly
The Pellucid Perspective - December 2017 - 11
The Pellucid Perspective - December 2017 - 12
The Pellucid Perspective - December 2017 - Atlanta golf market conditions far from peachy
The Pellucid Perspective - December 2017 - 14
The Pellucid Perspective - December 2017 - 15
The Pellucid Perspective - December 2017 - Shark Experience unlikely to break golf ’s chains
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