Last Update :1/31/2022

January Abstract OtR: '21 SoI scorecard is 6 birdies, 2 pars!

'21 State of the Industry:

6 Birdies, 2 Pars on Key Performance Metrics

Volume 21 Issue 01

I'm starting to write this from the Orlando airport waiting for the flight back to Chicago from this year's "boutique" PGA Merchandise Show. Informally and very unscientific, my eyeball of the floor and the exhibitor list would put it at about 25% of the pre-COVID level but it was good to once again gather, talk business and yes, see a meaningfully amount of face-to-face selling being conducted. The 19th annual State of the Industry was also in an "altered state" with smaller space in Orlando and simultaneous broadcast to Pellucid clients, friends and media of ~100 this past Thursday. Our 90-minute journey through the amazing results of '21, on top of a near record-setting '20 got high marks from the feedback so far for rigor, breadth and (dare we say it?) optimism.  

Keeping with my resolution that I shared back in the November issue, this will be a very high-level, more bite-sized read of the key points for our subscribers. Since the vast majority of you are Pellucid Publications members, you have access to the full Monty PowerPoint presentation through the Clients Login section of the website and we'll shortly have the recording of the broadcast available there as well. For the solo OtR subscribers, now might be an opportune time to upgrade to PPM ($495/yr) for a nominal increase. Here are the composite metrics for our '21 golf operations scorecard:

·    Revenue-per-Available Round (RevpAR) - Was $25.85 in '21 for Public, Regulation-length facilities, a 9% improvement over '20 and an incredible 26% gain since '19

·    Utilization - Was 67% in '21 which was up 3 pts vs. '20 and a healthy 10 points above the pre-CVOID '19 level

·    Velocity - Eclipsed 40K annual rounds per 18-hole equivalent (EHE) which represented a gain of 5% vs. '20 and +21% vs. '19

·    On a broader scale, we outlined that the KPI scorecard for '21 carded 6 birdies and 2 pars. In addition to the 3 above "composite metric" birdies were component metrics wins in Rounds, Golf Revenue and Rate-per-Round while the two pars on our KPI scorecard were Capacity Rounds (+1%) and Supply Change (-1%)

In this issue I'll break down the above results and share the tables and graphs from our presentation with the underlying numbers. Our subscribers can read on below to get the full story of how amazing the '21 results were both in comparison to the banner year of '20 as well as the two-year leap we've made as an industry since the '19 norm. It's been an unprecedented performance since Pellucid started tracking these metrics in '01 and the question which I'll touch on in the conclusion is, "Will it be better/same/worse in '22 and what can I do to "maintain the gain"?

For all our owner/operator readers out there, I want to continue to call your attention to (solicit) our Golf Market Research Center performance tracking/weather impact service. Launched in Q1 '21, we've enlisted the participation of just under 100 facilities who find value in our web-based service for single-view, weather-integrated comparative performance tracking by month for the current period compared to '21 and '20. Our visibility into Golf Revenue, RevpAR, Rate and % Discount in the annual scorecard are driven by their participation and our anonymized compilation of the figures. More information can be obtained here and we'd be happy to provide referrals from one or more of our satisfied participants if needed to make the decision.

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