Golf Course Closures Outpace Openings for Fifth Straight Year, Reports NGF
January 21, 2011 6:07 pm
Joanna DeChellisC&RB News0 Comments Wentworth Hills Golf Course in Plainville, Mass., is on the auction block. The Eagles Golf Club in Tampa, Fla., has filed for bankruptcy protection. The golf mecca of Myrtle Beach, S.C., lost 21 courses and more than 2,000 golf-industry jobs as rounds plummeted 22 percent last year, according to the Myrtle Beach Golf Association.
With the National Golf Foundation (NGF) reporting earlier this month that more golf courses closed than opened for the fifth year in a row, the financial struggles of Wentworth, Eagles, and Myrtle Beach are just snapshots of the tough economic times that club owners and operators continue to deal with worldwide.
"NGF tracked 46 18-hole equivalent golf course openings in 2010 vs. 107 closures, for a net negative of 61, the fifth consecutive year that closures have outpaced openings," says to Jim Kass, NGF research director. More than 60 percent of the openings were public-fee courses.
Unfortunately, NGF's Kass did not foresee a silver lining any time soon. "We expect [the trend] to continue for a while until things level out, meaning until supply matches demand," Kass told Waggle Room.