Local market conditions will have much more to do with individual course performance than macroeconomics of the golf course business. One or two conversions from private to public courses can make a big difference in a local trade area, as can the closing of one or two courses or clubs in your area.
Increases in golfers and rounds will not necessarily lead to proportionate revenues. Third-party tee time discounters and aggressive pricing will continue to attract bargain-hunting golfers.
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