The Pellucid Perspective - October 2020 - 8

MARKET
DYNAMICS

matching the market in the
current environment. Their
Facility Name
Lazy Acres GC
RevpAR is also very healthy
Pell. Fac. Type/Peer Group Public-Value
vs. the benchmark value (it
matches the GF Rev. $ index
Curr. Mo.
YtD
value because all courses in the
Index vs.
Index vs.
market share the same weather
Benchmark Facility Value
Benchmark
Facility Value
station/capacity rounds). The
more useful facet of UtilizaGF Rev. $
$
260,271
162 $
793,199
138
tion and RevpAR benchmarkPlayed Rds
6,510
99
20,319
66
ing is that it allows us to do
GF Avg. Rate
$
39.98
164 $
39.04
208
comparisons between markets/
Equiv. Velocity
6,510
99
20,319
66
geographies which is a key ben138
Equiv. GF $$
$
260,271
162 $
793,199
efit for management companies
Capacity Rds
8,568
47,236
operating in multi-markets or
% Util.
76%
99
43%
66
buyers/brokers/golf course apRevpAR
$
30.38
162 $
16.79
138
praisers who also aren't "market
myopic". For the YtD period,
the big insight is that it appears
against the market's 11% gain YtD. The other interesting Lazy Acres didn't participate early or fully in the COVID
observation is that L&P hasn't benefitted from the "bounce" bounce on Rounds relative to their peer group (i.e. their 66
showing up only 2% vs. YA compared to that market perfor- index of Equiv. Velocity compared to their Aug month's 99 inmance of figure. Wouldn't these reference points to your peer dex). Nonetheless, the RevpAR figure for the YtD is still very
group within the market be more insightful than just the +11% healthy vs. their peer group and, in the Rounds vs. Revenue
benchmark? (and, by the way, you currently don't have visibility trade-off, Revenue trumps Rounds every time in a split-card
into either figure!)
KPI decision.
Let's take it one step further and look at an individual facilSo there you have it sportsfans. Hopefully I've been able to
ity's performance against their peer group across several Key not only convincingly argue but also show you why having this
Performance Indicators (KPIs) for the current month (Aug) capability in '21 is necessity vs. nice-to-have for our industry,
and the YtD (see chart above).
particularly for our key markets. In the coming months we'll
Now it really gets interesting and this is STAR-worthy have a working protobenchmarking for our (anonymized) Lazy Acres GC, Public- type of our system and
Hopefully I've been
Value facility in Chicago. To set up the chart and calculations: would encourage you to
able to not only
sign up at the earliest
* Golf Fees Rev. $ is the values reported by the course
available opportunity.
convincingly argue
(through the PoS provider system in this example).
You could also instruct
For the Benchmark peer group, we had 23 facilities
your PoS provider that but also show you why
reported so that's the average/aggregate of the 23 peer
you're favorably dis- having this capability
facilities (including Lazy Acres)
posed to making your
* Played Rounds is self-explanatory
Rounds and GF Rev- in '21 is necessity vs.
* GF Avg. Rate is the GF Rev./Rounds Played
enue data available to
nice-to-have for our
* Equiv. Velocity is factoring for >18 hole facilities (here
our system and we'll be
it equals Played Rounds because Lazy Acres is 18
re-contacting the major industry, particularly
holes). Same methodology for Equiv. GF $$
providers to enlist their
for our key markets.
* Capacity Rounds is Pellucid's proprietary rules for Golf support prior to the
Playable Hours converted to Capacity Rounds for the
opening of the '21 golf
market-designated weather station
season in the Spring. We'll stand up individual markets based
* % Utilization is Played Rounds/Capacity Rds
on the breadth of participation we can get for each and, de* Revenue-per-Available Rounds (RevpAR) is GF Rev.
pending on how many markets we can field, that will determine
$$/Capacity Rds
if we can do a national projection and provide more markets
and dimensions to the existing macro-industry information beWhat this report tells our Lazy Acres GC client is that, for ing published. Together, let's get better visibility and insights
the month of August they're performing better than their peer into the size, shape and performance of our local markets in '21
group on the key metric of GF Rev. $ and that's comprised of and see if we can't ride the current wave of popularity longer and
realizing a much higher Rate against parity on Rounds. Their higher than if we just keep guessing at "How are we individually
Utilization for the month is an amazing 76% but that's only and collectively doing?"
n

8 THE PELLUCID PERSPECTIVE

OCTOBER 2020

The Pellucid Perspective - October 2020

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