The Pellucid Perspective - March 2022 - 18

MARKET FOCUS
San Diego continues
reign as the undisputed,
undefeated #1
San Diego, CA Core Business
Statistical Area (CBSA)
I
n this monthly section we profile one of the Top 25 US
Golf Markets based on a Pellucid composite score of the
golfer base, the supply level and rounds demand. Within
that Top 25 universe, we then rank them based on relative
health using a Pellucid weighted scoring system of 7 variables
ranging from Population Growth to Avg. Facility Utilization.
We're now working our way through the Top 25 markets based
on the last time we updated it to catch the markets we've neglected
in our Top-down, then Bottom-up treatments (we only
have 12 months/yr between updates and we have 25 markets to
cover; someone is going to get left out). For regular followers
of this column, you'll notice 2 changes in the map above and
noted in the Legend: 1) We're now distinguishing within Public-Regulation
Length the Munis (green symbols) vs. For Profits
(blue symbols) and 2) We've added Closed Courses since
2000 (black symbols). Our recently-released '20 version of the
GLMA contains numerous enhancements in supply tracking
as well as annual timeseries charts for rounds ('00-'20) and
golfers ('05-'20) for every US location. The '21 update will be
coming shortly as we await last year's consumer survey results.
In this issue, we'll profile the top-ranked market, the San
Diego, CA Metro CBSA. Ever since we started the Pellucid
Top 25 Markets scorecard 15+ years ago, San Diego has an
unbroken record as the #1 healthiest market in the US. People
have long said that, due to weather, San Diego is the ideal climate
geography for golf but our scorecard goes way beyond
climate and we even factor out that inherent favorability by
looking at Utilization (even weather-factored they still shine).
In the type of trivia only Pellucid knows, San Diego last year
actually got beaten in Golf Playable Hours (3,082) by LA
(3,101) and Orange County (3,095) with all three breaking the
amazing 3K mark.
By rounds demand (one of our 3 selection criteria for initial
inclusion in the Top 25 list), San Diego punches below its
composite ranking weight coming in 10th in rounds among
US markets with facility-reported annual demand of ~6M
rounds (that's the through-the-turnstiles tally which counts
both local and tourist play). Looking at the golf consumer
base, we see that the market is home to a healthy local golfer
base of ~202K golfers (this is local, resident population only).
That golfer base is served by a " stingy " supply base of 92 18hole
equivalent (EHE) facilities producing an average ratio of
~2.2K local resident golfers per EHE, a level well above the
national average (167 index).
The supply mix vs. the national distribution across Pellucid's
18 The Pellucid PersPecTive
Private
PubPremium
FPROF
PubPremium
MUNI
PubValue
FPROF
PubValue
MUNI
PubPrice
FPROF
PubPrice
MUNI
Learning
&
Practice
Closed
Golfer
Base
- Est. # of Golfers (Ks)
- # of 18 Hole Equivalent Facilities
- Golfers per 18-Hole Equiv.
Supply Mix
Tot. Holes
- Private
- Pub-Prem
- Pub-Val
- Pub-Price
- Learn & Prac
San Diego, CA
CBSA Tot US
202.4 21,065
92 16,034
2,200 1,314
1,530
28% 29%
19% 20%
18% 23%
16% 18%
Supply/Demand Balance*
- '00-'20 Cume Supply Growth/Decline
- '00-'20 Cume Rds Demand Growth/
Decline+
- '00-'20 Cume Mkt Supply Dilution
(-)/Absorption (+) Level*+
Rounds Demand & Facility Velocity
Tot. Facility-reported Rounds
- Avg. Ann Rds Velocity (Ks, per EHE)
- %Utilization Rate (Fac. Vel/Cap. Rds)
* Period % Chng in Rds vs. Period % Chng in Supply
-1% -8%
38%
6%
39% 14%
6,032,573
65.6 30.9 212
76% 59% 130
Above average level vs. US (Index >105)
Average level vs. US (Index 95-104)
Below average level vs. US (Index <95)
167
95
97
77
92
19% 10% 188
Index
vs. US
March 2022
The Pellucid Perspective - March 2022

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