Concert Golf Partners’ Post

For all you golf warriors, this is a must read. Thank you Andy Medici Boston Business Journal for a great article. Country clubs and golf courses are at a pivot point, and Blake Walker is banking that subscription models are the future of the industry. The veteran hospitality executive and CEO of the privately held Arcis Golf is bucking the idea that country clubs and daily-fee golf courses are inherently different. That’s why he formed Arcis in 2014. Over the past decade, the company — with the backing of Fortress Investment Group and Atairos — purchased nearly 70 clubs and has grown to about 6,000 employees. The company now holds a roughly equal mix of daily-fee courses and private country clubs that includes several high-profile courses, including Champions Retreat Golf Club near Augusta, Georgia, a 27-hole private course designed by Jack Nicklaus, Arnold Palmer and Gary Player. But it also includes public courses that many golfers frequent, including Angel Park Golf Club in Las Vegas and Arrowhead Golf Club in Littleton, Colorado. Traditionally, the two concepts haven’t mixed, but Walker is betting on a future in which people can move from one to the other as their lives change — and enjoy broader access than just their own local club or course. “My belief at Arcis’ inception (was) that there are far more commonalities than differences between daily-fee courses and private courses,” Walker said. His goal is to create an ecosystem that includes everything from entry-level to upscale clubs in every major metro in the U.S. The company has acquired and invested $100 million in dense pockets of courses around major metros. In 2021, he told the Dallas Business Journal, his plans to double the company over the next five years, through acquisitions and organic growth Walker's company is seeking to disrupt traditional models at an inflection point for golf courses and country clubs alike. Many golf courses have seen a surge of business since the pandemic, while a variety of factors have led several country clubs to close their doors and contributed to rising dues at others. #realestate #golfcourse #buyers #countryclubs

Golf clubs across the country are making strategic decisions about land use to ensure a profitable future – both as a result of rising costs but also because of the opportunities that can be gained from relocation. LRG, supported by Boyer on planning aspects, has advised on many of these decisions, helping clients to achieve considerable profits as a result. Find out how in this informative article by LRG’s National Land Director Ian Barnett. #BusinessRates #DrivingRange #GolfClubs #Golfplex #GreenBelt #Greenfield #Housing #LandUse #Landowners #Planning

How Living Near or On a Golf Course Elevates Property Prices For golf enthusiasts, residing in a golf community is an obvious choice. For them, having a property near a golf course equates to waking up and heading straight to the greens. Even those not particularly keen on golf often prefer living in a golf community due to its well-maintained landscapes and resort-like amenities. Clubhouses might offer dining facilities, fitness centres, swimming pools, or even a combination of these. The convenience of having such amenities close by typically convinces most people, and if not, the landscaping usually seals the deal. However, if we were to examine this from solely a financial standpoint, one might wonder whether living in or investing in a golf community is financially beneficial. How do golf courses enhance property value? Research conducted by the National Recreation and Parks Association has demonstrated that properties overlooking a golf course, even if not part of the golf community, enjoy 15-30% higher property values. Like all investments, the precise increase in your property’s value cannot be guaranteed, but properties in golf course communities typically experience an average annual value increase of around 7% above the usual rate. Despite some concerns regarding the perception of golf courses among new property owners, evidence suggests that potential buyers still regard golf courses positively when considering property purchases. Come to Visit, Come to Stay, Come to Play

I started Golfmak.com in 1997 using the original domain name, 'golfenomics' a special word I created by joining of Golf with Economics. It came from my years in the golf course business and recognizing that each golf course, like fingerprints, was different from any other. In the year 2000, it was obvious to me that golf was getting itself into a big mess. With every new golf course, the share of golf players was thinning out. For instance, most Florida golf courses in 1997 were bragging 50,000 rounds. Mangrove Bay Municipal Golf Course in St. Petersburg, Florida, boasted over 90,000 rounds over its 18-holes. One of the driving forces in golf's boom years through the 60's, 70's, 80's and 90's, the baby boomers, but they were aging. It was evident at private country clubs that the membership was aging one year at a time, and it was only a matter of time before their waiting lists to join dried up. I'm not a rocket scientist but if I have a golf course hosting 50,000 rounds and a new golf course opens nearby, where the heck do you think they will get their players? Some of the stupidest feasibility studies you could imagine were indicating that a new golf course would be hosting 50,000 rounds at 'stabilization' - usually by the end of the second or third year. I know because when I was involved in golf course financing while working at the Hayward Office in Tampa. We placed over $50 million in golf course financing between '94 and 2000. I watched developers and bankers fall for 'phony' studies so they could finance and build residential neighborhood golf courses to get premium lot prices with fairway views. Again. My question was, "Where the hell are the 50,000 rounds coming from?" In fact, there was a crack in the health of the golf course industry back in 1995 after an article in a Crittenden Golf Report indicated that a great percentage of golf course were having trouble paying their bills. I've been saying it and I'll say it again. There are millions of Americans who do not play golf who would give golf a try if given half a chance. It begins with a simple invitation to friends and acquaintances to come out to our golf course and learn to play. In fact, here's a conversation I had with a pro who was about to give a free clinic at his country club. What's your PGA professional staff doing to build member prospects? Does your club have a new golfer program? I mean non-golfing people from outside the club roster. Is that so hard to do? Maybe if my name was Nicklaus, Michelson, or Johnson the movers and shakers of the golf world would listen to me. We don't need to be losing 1,500 golf courses over the next few years. If every golf course in the country invited people out to learn the basics of the game and give golf a try the current player shortfall would disappear very quickly. BTW: what is the only thing golf courses have in common? The diameter of the putting cup - 4 1/4 inches. Mike Kahn, Golfmak.com

For those of us who golf and want more challenging courses to play in FL... Florida is often considered an underwhelming place to play golf. Bland, flat marsh doesn’t have the same cachet as wind-swept cliffs overlooking the Pacific. The Sunshine State stereotype is a course surrounded by retirement homes that looks as if it just rolled off the production line. The state has more than 1,200 courses, the most in the US, but just three on Golf Digest’s 100 Greatest Golf Courses list. But now some developers are betting that Florida’s boggy Martin County, near West Palm Beach, might be the golf mecca nobody ever expected - 16 new course projects are under construction or in planning. Membership queues at Emerald Dunes Club in West Palm Beach and the  Bear’s Club in nearby Jupiter are estimated to be as long as seven years, despite fees of $500,000 or more. A little farther north, the Medalist and Floridian clubs have upped their initiation fees and expanded their member ranks to 300, but they still have as many as 50 people on standby. (Read more: A Surge in Young Golfers Is Turning the Sport Into a Family Affair) These wealthy waitlists have cropped up since the state became  the biggest beneficiary of the finance industry’s exodus from New York. To capitalize on the influx, real estate developers have set their sights inland, in Martin County, north of West Palm Beach, even though terrain around Interstate 95 is flat and mostly wetlands. (Read more: Upscale Indoor Golf Clubs Woo a New Generation of Social Climbers) 5 properties are aiming to add world-class golf: 1.) Apogee Club  1,220-acre property, set initiation fee at $500,000, plans 1,000 members. It’s a “pure golf” club, meaning there are no homes to build a course around. https://lnkd.in/eeGQx-vc 2.) Sandglass Golf Club Sandglass will be a links-inspired course; Shumway says its terrain is “high, dry and sandy,” a rarity in Florida. https://lnkd.in/ehRKupAp 3.)   The Ranch https://lnkd.in/e5csD__Z 4.)  Atlantic Fields  On 1,500 acres next door to the Hobe Sound Polo Club and Michael Jordan’s Grove XXIII course, Discovery Land Co. is building more than 300 homes on the site of a former tree farm. 18-hole course will be designed by Tom Fazio.  https://lnkd.in/eSQwR3-9 5.)   McArthur Golf Club https://lnkd.in/eeHhjFKa #floridamigration #golf #premiumfunding #lifeinsurance #whatsyourhandicap #realestatedevelopment #golfcourse #Sportsbusiness

Step onto the green and into the world of Club Caddie, where innovation meets excellence in golf course and country club management. Founded by four passionate golf industry professionals, Club Caddie emerged from a shared vision to revolutionize golf operations. At the heart of Club Caddie's mission lies a commitment to modularity, offering tailored solutions for diverse golf operations, whether it's daily fee facilities, private country clubs, or golf simulators. "Our mission is founded upon a modular approach," explains Ryan Hutson, VP of Support at Club Caddie. "We cater to the distinct needs of various golf operations, ensuring seamless integration and unparalleled efficiency." Discover more about Club Caddie's innovative approach to golf course management in the latest issue of Digital First Magazine. Explore how Club Caddie is shaping the future of golf operations with its cutting-edge software solutions. Tee up the full story: https://lnkd.in/guyWKMTA #ClubCaddie #GolfCourseManagement #CountryClub #Innovation #Excellence #GolfOperations #DigitalFirst #SoftwareSolutions #ModularApproach #IndustryLeadership #AdvancingTechnology

One property I have worked with has seen a 30% increase in fees with no drop off in play volume. How have green fees in your area escalated since Covid? #golf #golfcourse #golflife #golfaddict #realestate #consulting #turnaroundmanagement #golfpodcast

San Diego, California – With the growth of golf slowing after the COVID boom, a looming recession, and an uncertain political environment due to the upcoming election, Sunday Golf, the San Diego based golf bag company and the hottest golf bag brand to emerge in recent years, has officially announced its decision to file for the BANKRUPTCY trademark as part of its new marketing campaign to bring awareness to how overpriced some golf bags are today. Golf is expensive, golf bags don't have to be. "Golf bags should not cost the same as the GDP of a small country. If new and old golfers alike cannot afford a golf bag to play with, how are we, as an industry, expected to grow the game?" said Ronan Galvin, CEO of Sunday Golf. "Prices were driven up during COVID due to shipping costs and other factors but that was years ago. A lot of brands have decided not to pass those savings back to the consumer. After careful consideration and exploration of all possible avenues, we came to the conclusion that filing for the BANKRUPTCY trademark is the most responsible action we can take for the golf community to help them avoid BANKRUPTCY by not overpaying for golf bags. We’re confident this legal filing will educate golfers everywhere that Sunday Golf is the #1 place to buy great golf bags at a great price." "We are deeply grateful for our loyal customers, dedicated employees, and supportive partners who have been with us throughout our journey. We understand the impact that this announcement will have and are committed to ensuring transparency and support for all golf bag consumers as we bring more awareness to overpriced golf bags." "Our goal is to put the power back in the consumers hands. And to let them know that they do not need to mortgage their house for a golf bag. They just need to shop at Sunday Golf." Added Galvin. Further details regarding the bankruptcy trademark filing and the future growth plans of Sunday Golf will be shared as they become available. We appreciate the support of the golfing community as we carry out this campaign.