The Pellucid Perspective - September 2021 - 14

INDUSTRY
SCORECARD
July Utilization breaks winning streak, Year-to-Date
figure still in the 70% neighborhood
Industry Key Performance Indicators at-a-glance
20.0%
15.0%
10.0%
5.0%
0.0%
-5.0%
-10.0%
Rounds by Facility Type July 2021
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All Fac.
Types
16.1%
8.2%
Public
Access
18.3%
Private
-3.9%
-2.9%
-7.7%
Source: Golf Datatech
n Curr Month
n Curr YtD
Looking at demand for July as reported by Golf Datatech, we saw
a modest decline as reported rounds demand registered -4% vs.
Year Ago (YA), trailing a healthy '20 baseline. That continued the
erosion of our Year-to-Date (YtD) gain to +16% with 7 months
in the books. For the YtD period, we see a reversal of the '20 pattern
with growth driven by the Public sector (part of that is due
to the fact that in '20 Private didn't dip as much so they're playing
against a higher base). July was the second data point, in our
core 3 seasonal months, of how rounds would perform against the
" relaxed COVID restrictions " and the demand results are holding
up better than we had expected. That leads us to the monthly
question of " How much of the July gain was due to weather vs.
changes in golfer engagement? " For the answer to that question,
we'll need to look at the month via Pellucid's unique view
of Utilization.
n %Utilization
n Pt. Chng vs. FY '20
Utilization & Point Change July 2021
For reference, Utilization and Point Change vs. Year Ago (YA)
tracks rounds demand after factoring for weather.
The comparative
benchmark is the Year End (YE) '20 value of 59%.
For those not familiar with Pellucid's Weather Impact tracking,
the underlying concept is relatively simple. In a theoretical
world where rounds follow weather, a 5% increase in Available
Rounds would produce a 5% gain in Played Rounds. By comparing
Played Rounds to Available Rounds, we can determine
the weather-neutral performance of the average facility and
how it's changing during the year vs. the benchmark.
The bad (but inevitable) news in our July weather impact is
that the decline in demand was higher than the basically flat
weather impact producing a Utilization of 57%, down 2 points
vs. YA. That ends our Utilization winning streak of 14 consecutive
months of gains but it was a great run. The YtD Utilization
also remains considerably elevated at 68%, up 10 points (continuing
to flatten from the early season's torrid pace).
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Curr.
Month
YtD
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Source: Golf Datatech and Pellucid
__
__
__
__
__
__
__
__
__
12.0
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
14 The Pellucid PersPecTive
September 2021
56.5%
-2.0
68.2%
9.7
The Pellucid Perspective - September 2021

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