The Pellucid Perspective - December 2021 - 17

The supply mix vs. the national distribution across Pellucid's
five access/value/usage segments shows a primary bias to
the Learning & Practice segment (144 index; don't see that
often in these analyses) vs. the national distribution. The split
between Private/Public is 35%/65%, slightly tilted to Private
vs. the national average of 28%/72%. The balance between
Value-added golf supply (Private & Public Premium) vs.
Value golf (Public Value, Price and Learning & Practice) is
49%/51% which skews to Value golf vs. the national average
of 54%/46%. Within Public-Regulation golf, the distribution
between Premium/Value/Price is 27%/49%/24% which is an
interesting bell-curve skew to the mid-range vs. the national
distribution of 39%/37%/24%. Remember also that we establish
the Premium/Value/Price segments by individual market
so that's factoring in differences in cost of living/cost of golf as
we cross markets (unlike NGF where Manhattan NY has the
same price segmentation as Manhattan KS, go figure).
Using our methodology for calculating Supply/Demand
equilibrium and how the picture has changed from '00-'20
based on rounds demand change vs. supply change, you can
see in the table above that Supply contracted 14% over that
period, higher than the national average supply contraction
value of 8%. On the facility-reported rounds demand side of
the equilibrium equation, that healthy supply contraction was
accompanied by basically flat rounds demand over the '00-'20
slightly lagging the benchmark US level (+6%). The confluence
of these two factors results in the cumulative supply absorption
of +14% or exponential the national benchmark of -2%.
This suggests that Seattle, like many other Top 25 Markets, got
healthy in 1 short year from the COVID demand surge while
supply continues to contract modestly.
Looking at the productivity of the average facility using our
proprietary velocity measure, they produce nearly ~33K rounds
per year, slightly above the national average of ~31K. Applying
our industry-exclusive Utilization measure (played rounds/
capacity rounds), we see that, after weather adjustment, the
market underperforms the US " productivity " rate with a 46%
Utilization Rate (78 index).
In summary, it appears that the one thing the folks in Seattle
can agree on is they're liking their golf significantly more in the
COVID era than previously. The consumer base looks healthy,
the higher demand now supports the supply level built during
the '00-'10 decade and the distribution of that supply, while a
little " lumpy " at the ends of Public-Premium and Public-Price,
appears workable. We don't currently have any representation
in our Golf Market Research Center (GMRC) program from
Seattle so, if you're an owner/operator in this market, consider
this your formal invitation to join us and get comparative reporting
and KPI scorecard insights for your facility initially
and, eventually, for the market when we have enough participants.
You can get more info on the GMRC and instructions
on how to subscribe one of two ways:
* Read the 2-page Program Overview:
* View the 18-min recorded demo of the tool and
program plans/pricing etc. (fill in your name and email
and it will open the video link; you're not signing up
for anything)
If you'd like more detailed Golf Local Market profiling
there are 3 ways to get it:
* Single location Golf Local Market Analysis
* Top 25 US Golf Markets Ranking Scorecard
* Golf Local Market Analyzer software license (unlimited
analyses, web-delivered, 24/7)
" Clear Solutions to
Golf's Business Issues "
Visit our website and register for more information and free sample reports at www.pellucidcorp.com.
Or, contact Jim Koppenhaver to discuss your unique needs at jimk@pellucidcorp.com or 847.612.6717
www.PellucidcorP.com
The Pellucid PersPecTive
17

https://www.pellucidcorp.com/gmrc-overview https://register.gotowebinar.com/recording/7458806921132082700 https://www.pellucidcorp.com/purchase-reports/GLMA-Data-workbook-p235238751 https://www.pellucidcorp.com/purchase-reports/Top-25-US-Golf-Markets-Scorecard-c60114161 https://www.pellucidcorp.com/purchase-reports/GLMA-annual-license-Basic-edition-p235240900 http://www.pellucidcorp.com http://www.PellucidcorP.com

The Pellucid Perspective - December 2021

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