The Pellucid Perspective - March 2022 - 16

INDUSTRY
SCORECARD
January Utilization posts modest decline, coming
back to earth at 57%!
Industry Key Performance Indicators at-a-glance
-11.7%
-12.0%
-12.2%
-12.5%
-12.7%
Rounds by Facility Type Jan 2022
___________________________________________
___________________________________________
___________________________________________
___________________________________________
___________________________________________
All Fac.
Types
Public
Access
Private
-11.9% -11.9%
-12.1% -12.1%
1.9%
-12.7% -12.7%
Source: Golf Datatech
n Curr Month
n Curr YtD
Looking at demand for January as reported by Golf Datatech, we
saw a significant decline as reported rounds registered -12% vs.
Year Ago (YA, but which was a healthy baseline) with the majority
of that decline attributable to Golf Playable Hours unfavorability
(see below). Since it's January and only 1 month in the
books, that figure is also the Year-to-Date (YtD) result. For the
YtD period, both the Public and Private sectors suffered similarly
around the -12% level. That leads us to the monthly question
of " How much of the decline was due to weather vs. changes in
golfer engagement? " For the answer, 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 Jan 2022
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 good news/bad news scenario for January is that the significant
decline in rounds was primarily, but not all, attributable
to weather as evidenced by the fact that % Utilization still declined
marginally vs. the '21 yearend figure. That continues the
post-Jul '21 pattern of Utilization drops but the 1 point decline
is much shallower than what we saw in H2 '21. On the positive
side, Utilization is still elevated relative to the narrow trading
range (51-55%) we lived in pre-COVID.
60.0% ____________________________
____________________________
-0.3
Curr.
Month
YtD
80.0% ____________________________
____________________________
0.0
40.0% ____________________________
____________________________
-0.6
20.0% ____________________________
____________________________
-0.9
0.0% ____________________________
____________________________
Source: Golf Datatech and Pellucid
-1.2
16 The Pellucid PersPecTive
March 2022
60.2%
-1.1
60.2%
-1.1
The Pellucid Perspective - March 2022

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