The Pellucid Perspective - January 2022 - 4

Industry
Performance
* In the '20 vs. '19 period, the GRev gain was predominately
driven by the Rounds contribution (~90%)
with little contribution by Rate (~10%)
* In the '21 vs. '20 period, we're seeing more similar
contribution to the GRev gains by both Rounds
(~60%) and Rate (~40%)
* In our opinion, this more balanced gain picture is better
for the average owner/operator's long-term health
and we think that moderate pricing power should
continue into '22
One of the things we heard from operators in the '21 result
was that some portion of their revenue gains in '20 were offset
by higher costs for things ranging from sanitation and extra
labor to increase credit card processing fees (the difference
between a 1.5% card-present and 2.5% card-not-present rate
courtesy of touchless transaction-mania). As Stuart points
out in his article in this month, our GMRC subscribers report
that in '21 they've figured out how to run " tighter ships " in the
COVID era and those efficiencies and savings will persist long
after COVID is gone.
Which leads us to the question our subscribers are asking
us as they use their GMRC figures (including weather impact
and weather forecasting for season opening visibility) for
planning; where do we go in '22? The 2021 results have been a
" reality check " for me that, even in a waning COVID environment,
some amount of the rounds enthusiasm is durable and
persistent. What leaves me scratching my head as an analyst is
I can't exactly figure out why. Before you paint me as an eternal
pessimist, let me explain. Consumers have told us for years
that the primary barriers to playing or playing more often are:
Time, Expense, Skill. COVID hasn't changed the time commitment
for golf (it has however reduced commutes and, to
varying degrees, limited the competition for discretionary
time). It hasn't changed the expense; contrary and much like
many other current goods and services, it's become more, not
less, expensive. Finally, we still haven't found the silver bullet
for skill development in an onboarding or improvement program
that scales or moves the needle on the national level vs.
pockets of success here and there. So, I either need to figure
out what's not right in the equation or the consumers have just
flat out lied to us all these years and are saying to golf, " You
really like me! " (channeling Sally Fields).
We have some initiatives underway that we hope will provide
insight yet in January and, to the extent that they do,
we'll dial them into the State of the Industry presentation
and walk out on that plank of uncertainty once more with
our " call " for '22. Speaking of the SoI, we've now firmed up
plans and you should have received a Save the Date email for
the dual in-person/web broadcast presentation which will be
on Thursday 1/27 from 1:30-3:00PM EST in Room 312A of
the Orange County Convention Center. In a slight twist from
last year, where we welcomed Pellucid clients at no charge and
non-clients for a fee, this year we're limiting attendance (both
in-person and broadcast) to Pellucid clients so the price-of4
The Pellucid PersPecTive
Building the case for the COVID
effect, going back up to our
Public, Regulation-length facility
universe and the $2.7B increment
from '20-'21, let's also consider
that this universe of facilities
comprises ~60% of the total
and the fact that Golf Revenue
generally runs about 60% of
facility Total Revenue.
admission is to join the Pellucid family. To simplify it, that
would mean three options for participation:
* Pellucid Publications Membership National - For the
majority of industry stakeholders who aren't facility
owner/operators, this provides annual distribution
and access to all our publications (Outside the
Ropes, State of the Industry, Monthly Nat'l/Regs/
Mkts Weather Impact, National Consumer Franchise
Scorecard): $495 annual
* Golf Market Research Center - For the majority
of owner/operators, this is the " best value " ticket
to the world of Pellucid. It includes access to the
GMRC portal for comparative period reports on
Trend Analysis, KPI Scorecard and a Market Profile
updated annually. It also includes portal access to
our facility-specific, historical weather impact service,
Cognilogic as well as portal access to our newlyintroduced
facility-specific, weather and Capacity
Rounds forecast (60 days) service, Foresight: $500
annual per facility ($450 for NGCOA members)
* Pellucid Publications Membership Local - For
owner/operators who don't want to participate in the
GMRC program, this provides annual distribution
and access to all our publications (Outside the Ropes,
State of the Industry) plus a Golf Local Market
Analyzer Data Workbook and annual portal access to
Cognilogic for the facility's assigned weather station:
$495 annual
Back to our headline comparison of the " Tiger vs. COVID
effect, " one can't argue that Tiger increase golf's awareness
as a sport, made it cool again and created an aspirational
January 2022
The Pellucid Perspective - January 2022

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