The Pellucid Perspective - March 2018 - 13

Golf Playable Hours Monthy % Chng vs. Year Ago
Q1
Q2
Q3
Q4
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
0% ________________________________________________________________________________________________

-5% ________________________________________________________________________________________________

-10% ________________________________________________________________________________________________
-15% ________________________________________________________________________________________________
-17%
-20% ________________________________________________________________________________________________

-25% ________________________________________________________________________________________________
-30% ________________________________________________________________________________________________
-33%
-35% ________________________________________________________________________________________________
Source: Golf Datatech

In the above, we track the monthly and quarterly timeseries view of weather impact (measured by Golf Playable Hours) so our
readers can see how the year is playing out at the national level. Again, if you want the 45 regional figures, the 61 markets figures
or specific to your individual facility, you can get those by subscribing either to the Pellucid Publications Membership program, the
Geographical Weather Impact reports or Cognilogic (individual facility down to daily level) at the Pellucid website clicking here.
The above chart shows us that February weather continued the January pattern, registering a 2nd consecutive month of doubledigit decline in Golf Playable Hours vs. the same month '17 results. Given that over half the country is closed and these results get
weighted as the season progresses to rounds contribution, no reason to panic yet but for the geographies that are counter-seasonal,
this will likely inflict another month of rounds demand decline when those figures are released next month. As you can see on the
map in the Weather Impact section of this issue, there were "winners" and "losers" in the regional weather lottery for February so
it's not uniform pain across the full-season markets; hopefully you're in one of the "winners" as you're reading this.

Golf Playable Hours Monthly Utilization Point Chng vs. Prior Full Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
25 ________________________________________________________________________________________________
21

20 ________________________________________________________________________________________________
15 ________________________________________________________________________________________________
10 ________________________________________________________________________________________________
5 ________________________________________________________________________________________________
- ________________________________________________________________________________________________
Source: Golf Datatech

The above chart represents a timeseries by month of Utilization change which we're sure that by now you all know is the resultant
of Played Rounds (demand) divided by Available Rounds (capacity). We compare each month back to the static prior Year End
figure (51%) to determine if we improved or lost utilization in the current month.
January is another poster child for the value of Utilization as a cardinal performance metric vs. simple rounds demand % change.
As outlined in the initial rounds demand table in this section, although we experienced a meaningful decline in rounds, Utilization
actually registered a healthy gain due to the fact that the weather decline (-17%) significantly exceeded our rounds loss (-5%), resulting in higher Utilization. In other words, "we beat the weather." These types of Utilization swings are common in the national
off-season so we'll avoid reading much into this, positive or negative. Like most all industries (and politics), there's considerably
more variation when one moves down to local markets and this is captured in our Cognilogic weather service and our monthly
Geographic weather impact reports for those interested in the underlying mosaic of results.

www.PellucidCorp.com

The Pellucid PersPecTive

13


https://www.pellucidcorp.com/reports http://www.PellucidcorP.com

Table of Contents for the Digital Edition of The Pellucid Perspective - March 2018

TOC
More munis embrace golf “rationalization”
Unlikely owner rescues course from closure
Toptracer bringing revenue within range
Gleneagles operator turns course into life changer
February golf weather impact: Double-digit decline continues
hilly course operators not flying high
Slow play no cause for no play
The Pellucid Perspective - March 2018 - TOC
The Pellucid Perspective - March 2018 - More munis embrace golf “rationalization”
The Pellucid Perspective - March 2018 - 3
The Pellucid Perspective - March 2018 - 4
The Pellucid Perspective - March 2018 - Unlikely owner rescues course from closure
The Pellucid Perspective - March 2018 - Toptracer bringing revenue within range
The Pellucid Perspective - March 2018 - 7
The Pellucid Perspective - March 2018 - Gleneagles operator turns course into life changer
The Pellucid Perspective - March 2018 - 9
The Pellucid Perspective - March 2018 - 10
The Pellucid Perspective - March 2018 - February golf weather impact: Double-digit decline continues
The Pellucid Perspective - March 2018 - 12
The Pellucid Perspective - March 2018 - 13
The Pellucid Perspective - March 2018 - hilly course operators not flying high
The Pellucid Perspective - March 2018 - 15
The Pellucid Perspective - March 2018 - Slow play no cause for no play
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