The Pellucid Perspective - January 2022 - 2

Industry
Performance
COVID Succeeds
where Tiger Failed:
Growing Golf Owner/
Operators' Revenue
By Jim Koppenhaver
W
hile many might question this bold assertion, thanks
to our Golf Market Research Center (GMRC) subscribers
and basic math projections, I feel confident
that our facts will prevail. We now have in hand the Year End
figures for Golf Revenue, Rounds and, hence, Average Rate
for our small (but growing) portfolio which we can project to
the total universe of Public, Regulation-length facilities (we've
excluded Privates and Learning & Practice initially from the
program) to determine what the Golf Revenue growth picture
was from '19-'20, '20-'21 and the combined period of '19-'21
and the figures are eye-popping.
Much like Pellucid suggested years ago that tracking
rounds with no visibility to weather impact was incomplete
information, in building the GMRC we set out, with progressive
owner/operators' participation, to provide a more
accurate gauge of operations financial health by filling in
the blanks of Golf Revenue (not Total) and Average Rate
(which tells us something about pricing power and discounting).
We (Stuart) also made a prescient call when we
designed GMRC to collect 2 yrs of historical data, which
was back in March '21 before we fully understood the impact
and duration of COVID on US business. As a result,
not only can we analyze how '21 performed vs. '20 but also
the 2-year " leap " in any of the core measures: Golf Revenue,
Rounds, and Rate.
The resulting math and projections, for the Public, Regulation
subset of the industry is that the increased demand for
golf due to COVID spanning the '20-'21 period (using '19 as
baseline) was nearly $3B dollars of incremental golf revenue:
We've done the preliminary analysis on the GMRC portfolio
Golf Revenue, Rounds and Rate figures for '21 vs. '20
and there are a couple of interesting insights:
2 The Pellucid PersPecTive
January 2022
IMAGE BY PHOTOCREO DILOK KLAISATAPORN/SHUTTERSTOCK

The Pellucid Perspective - January 2022

Table of Contents for the Digital Edition of The Pellucid Perspective - January 2022

TOC
COVID Succeeds Where Tiger Failed By Jim Koppenhaver
NFTs, Blockchain, Cryptos, DAOs and Golf By Stuart Lindsay
12 Activities; A trickle Led by Transactions
December GPH a Christmas Present at +29%, ‘21 Year Ends at +1%
November Utilization Drops Double Digits, Year Will Finish Above 60%!
The Big Apple at #6 in Latest Ranking, More Errant Golf Shots=More Broken Windows
The Pellucid Perspective - January 2022 - TOC
The Pellucid Perspective - January 2022 - COVID Succeeds Where Tiger Failed By Jim Koppenhaver
The Pellucid Perspective - January 2022 - 3
The Pellucid Perspective - January 2022 - 4
The Pellucid Perspective - January 2022 - 5
The Pellucid Perspective - January 2022 - NFTs, Blockchain, Cryptos, DAOs and Golf By Stuart Lindsay
The Pellucid Perspective - January 2022 - 7
The Pellucid Perspective - January 2022 - 8
The Pellucid Perspective - January 2022 - 9
The Pellucid Perspective - January 2022 - 12 Activities; A trickle Led by Transactions
The Pellucid Perspective - January 2022 - 11
The Pellucid Perspective - January 2022 - December GPH a Christmas Present at +29%, ‘21 Year Ends at +1%
The Pellucid Perspective - January 2022 - 13
The Pellucid Perspective - January 2022 - November Utilization Drops Double Digits, Year Will Finish Above 60%!
The Pellucid Perspective - January 2022 - 15
The Pellucid Perspective - January 2022 - The Big Apple at #6 in Latest Ranking, More Errant Golf Shots=More Broken Windows
The Pellucid Perspective - January 2022 - 17
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202404
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202403
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202402
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202401
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202312
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202311
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202310
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202309
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202308
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202307
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202306
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202305
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202304
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202303
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202302
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202301
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202212
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202211
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202210
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202209
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202208
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202207
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202206
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202205
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202204
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202203
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202202
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202201
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202112
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202111
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202110
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202109
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202108
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202107
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202106
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202105
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202104
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202103
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202102
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202101
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202012
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202011
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202010
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202009
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202008
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202007
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202006
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202005
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202004
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202003
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202002
https://www.nxtbook.com/nxtbooks/pellucid/perspective_202001
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201912
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201911
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201910
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201909
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201908
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201907
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201906
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201905
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201904
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201903
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201902
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201901
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201812
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201811
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201810
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201809
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201808
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201807
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201806
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201805
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201804
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201803
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201802
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201801
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201712
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201711
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201710
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201709
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201708
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201707
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201706
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201705
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201704
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201703
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201702
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201701
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201612
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201611
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201610
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201609
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201608
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201607
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201606
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201605
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201604
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201603
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201602
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201601
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201512
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201511
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201510
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201509
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201508
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201507
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201506
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201505
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201504
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201503
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201502
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201501
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201412
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201411
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201410
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201409
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201408
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201407
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201406
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201405
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201404
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201403
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201402
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201401
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201312
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201311
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201310
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201309
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201308
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201307
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201306
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201305
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201304
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201303
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201302
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201301
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201212
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201211
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201210
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201209
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201208
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201207
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201206
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201205
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201204
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201203
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201202
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201201
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201112
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201111
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201110
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201109
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201108
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201107
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201106
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201105
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201104
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201103
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201102
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201101
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201012
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201011
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201010
https://www.nxtbook.com/nxtbooks/pellucid/perspective_201008
https://www.nxtbookmedia.com