The Pellucid Perspective - September 2022 - 16

MARKET FOCUS
Atlanta at #21 got healthy
quickly with solid demand
gains + modest supply
contraction
Atlanta, GA 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). Recent enhancements
to our Golf Local Market Analyzer (GLMA) include:
1) Within Public-Regulation Length we're distinguishing Munis
(green symbols) vs. For Profits (blue symbols) and 2) The
addition of Closed Courses since 2000 (black symbols which
illustrate both the number and geographic dispersion). We're
in the final stages of a complete re-platforming of the GLMA
which will feature improved golfer estimates (calculated now
at county vs. state-level), dynamic mapping, update to '21 base
data (consumer, facility and weather) and the ability for selfserve
ordering and immediate download of analysis in Excel for
any US geography. We anticipate announcing/launching those
exciting changes in October, stay tuned...
In this issue, we'll profile the 21st ranked market, the Atlanta
Metro CBSA. By rounds demand (one of our 3 selection criteria
for initial inclusion in the Top 25 list), the market punches above
its composite ranking weight coming in 16th among US markets
with facility-reported annual demand of just under 4M annual
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
~273K golfers (this is resident population only). That resident
golfer base is served by a healthy supply base of 165 18-hole
equivalent (EHE) facilities producing an average ratio of ~1.7K
resident golfers per EHE (remember, tourists not being counted
in this metric), well above the national average (126 index).
The supply mix vs. the national distribution across Pellucid's
five access/value/usage segments shows a huge bias to Private
at 50% of total holes and a 171 index vs. the national level. The
split between Private/Public is 50%/50%, significantly tilted
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
16 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
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
Atlanta, GA
CBSA Tot US
273.3 21,065
165 16,034
1,656 1,314
Index
vs. US
126
2,719
50% 29% 171
14% 20%
17% 23%
14% 18%
6% 10%
70
72
76
63
-9% -8%
13% 6%
22% 14%
4,274,597
25.9 30.9
36% 59%
Above average level vs. US (Index >105)
Average level vs. US (Index 95-104)
Below average level vs. US (Index <95)
64%/36% which is well above the national average of 54%/46%
(you can see that the Private abundance has constrained PublicPremium,
not a bad thing). Within Public-Regulation golf, the
distribution between Premium/Value/Price is 32%/38%/31%,
very similarly balanced compared to the national distribution of
33%/38%/30% (taking out the Private imbalance factor). Remember
also that we establish the Premium/Value/Price segSeptember
2022
84
61

The Pellucid Perspective - September 2022

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

TOC
How Has Supply Shape Shifted Since COVID?
Will Lack of Interest Doom Performance Measurement/ Benchmarking for Golf?
8 Activities; Transactions the story with 7 plus one new dirt opening!
Aug GPH improves +5%, Year-to-Date improves slightly (-6%)
Jul Utilization gains on weather down/rounds up, Year-to-Date continues resilience!
Atlanta at #21 got healthy quickly with solid demand gains + modest supply contraction
The Pellucid Perspective - September 2022 - TOC
The Pellucid Perspective - September 2022 - How Has Supply Shape Shifted Since COVID?
The Pellucid Perspective - September 2022 - 3
The Pellucid Perspective - September 2022 - 4
The Pellucid Perspective - September 2022 - 5
The Pellucid Perspective - September 2022 - Will Lack of Interest Doom Performance Measurement/ Benchmarking for Golf?
The Pellucid Perspective - September 2022 - 7
The Pellucid Perspective - September 2022 - 8
The Pellucid Perspective - September 2022 - 9
The Pellucid Perspective - September 2022 - 8 Activities; Transactions the story with 7 plus one new dirt opening!
The Pellucid Perspective - September 2022 - 11
The Pellucid Perspective - September 2022 - Aug GPH improves +5%, Year-to-Date improves slightly (-6%)
The Pellucid Perspective - September 2022 - 13
The Pellucid Perspective - September 2022 - Jul Utilization gains on weather down/rounds up, Year-to-Date continues resilience!
The Pellucid Perspective - September 2022 - 15
The Pellucid Perspective - September 2022 - Atlanta at #21 got healthy quickly with solid demand gains + modest supply contraction
The Pellucid Perspective - September 2022 - 17
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