MORE SNOW PREDICTED FOR NORTHEAST & MID-ATLANTIC

APRIL FOOL'S

Enjoy this issue of "Chip Shots".  There are lots of published articles, videos and other links to informative pieces.  Don't forget to click on the colored links where indicated.

Late Season Openings
It's amazing how many articles I've read in just the past few days about golf courses in the Mid-Atlantic and Midwest regions (where golf season is usually well underway by now) finally opening for the first time this season.  Even ski resorts as far south as Virginia are staying open into April this year. To operators and clubs, this means lost revenues and starts the season off in a deep hole.  Even the heartiest of golfers can't play in the snow.

What does all this mean to operators, owners and ultimately the financial profile of golf properties?

In many of these areas, the unusually long winter brought with it considerable storm damage and the cleanup means added costs for tree work and in some cases turf damage from winterkill.  Of course, with no golfers thereare no revenues.  Even though the first month or so of the season is not normally the busiest part of the year, several operators in the normally "play all year" locations near the coast count on revenues from winter golfers, not only from leagues and walk-up play but also from the related food and beverage and pro shop business it brings.  Golf Datatech reports February, 2014 YTD rounds down nationally by 4.1% from 2013.  One operator in NJ indicated that the late opening reduced his  revenues by roughly 6-7% of a typical year.  That's not chump change!

lining and other activities in the summer, and I know of one club that actually has an ice rink and winter members that use the facility for hockey and recreational skating during the non-golfing months.

Characteristics of Successful Clubs

Does your club have a "flight plan"?

Is it specific to YOUR club's unique characteristics and challenges and not forced into someone else's idea of a prototype club?  

When a pilot develops a flight plan, he/she considers many factors that are unique to that flight.  The airplane being used, the load being carried, fuel requirements and weather conditions are all considerations that vary from flight to flight.  Clubs are no different, except there are typically MORE variables, ranging from the location and quality/condition of the facilities to the age and other demographic of the membership.  Is the membership busy or passive?  Can the club comfortably handle 250 members or 550?

Read the rest on my BLOG.

The Practice Tee - Selling Your Golf Property 

One of the most important things you can do if you're considering selling a golf course property is to plan your "exit" effectively.  At GPA, when we assist owners in marketing their golf course properties we strongly advise that owners do two things thoroughly:

1. Every property owner should develop an EXIT STRATEGY.
2. Compile all the items a buyer will want in a Due Diligence List.

We focus on selling golf properties along the east coast from New England to Florida.  To learn more about how GPA can help your golf course or club plan or accomplish a sale, contact us by emailing Larry at Larry@golfprop.com, visiting our website at www.golfprop.com, calling us at 610-397-1818 or SKYPE at AIRLARR.  Learn more about our golf property brokerage success here.

GPA is the nation's leading golf property real estate firm and has completed more than 2,500 consulting, appraisal and brokerage assignments in 45 US states, Canada, the Caribbean and Europe.  Some of our recent assignments include:

• New Jersey - Semi-private club for ad-valorem tax assessment appeal
• New Jersey - Private club for ad-valorem tax assessment appeal
• Wisconsin - Resort Course for ad-valorem tax assessment appeal
• New Jersey - Consulting for municipal course revitalization
• Pennsylvania - Private club consulting and possible assessment appeal
• Connecticut - Semi-Private club for litigation support
• Maryland - Semi-private club & development for advisory & possible disposition