The Pellucid Perspective - October 2021 - 16

INDUSTRY
SCORECARD
August Utilization Down Slightly,
Still up 7 Points YtD
Industry Key Performance Indicators at-a-glance
15.0%
10.0%
5.0%
0.0%
-5.0%
-10.0%
-15.0%
Rounds by Facility Type Aug 2021
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All Fac.
Types
11.3%
5.1%
Public
Access
13.0%
Private
-7.3%
-6.9%
-9.3%
Source: Golf Datatech
n Curr Month
n Curr YtD
Looking at demand for August as reported by Golf Datatech,
we saw a healthy (expected) decline as reported rounds demand
registered -7% vs. Year Ago (YA), trailing a healthy '20 baseline.
That continued the erosion of our Year-to-Date (YtD) gain to
+13% with 8 months in the books. For the YtD period, we see a
reversal of the '20 pattern with growth driven by the Public sector
(part of that is due to the fact that in '20 Private didn't dip as
much so they're playing against a higher base). August was the
final data point, in our core 3 seasonal months, of how rounds
would perform against the " relaxed COVID restrictions " and the
demand results are holding up better than we had expected. That
leads us to the monthly question of " How much of the August
decline was due to weather vs. changes in golfer engagement? "
For the answer to that question, we'll need to look at the month
via Pellucid's unique view of Utilization.
n %Utilization
n Pt. Chng vs. FY '20
Utilization & Point Change Aug 2021
For reference, Utilization and Point Change vs. Year Ago (YA)
tracks rounds demand after factoring for weather.
The comparative
benchmark is the Year End (YE) '20 value of 59%.
For those not familiar with Pellucid's Weather Impact tracking,
the underlying concept is relatively simple. In a theoretical
world where rounds follow weather, a 5% increase in Available
Rounds would produce a 5% gain in Played Rounds. By comparing
Played Rounds to Available Rounds, we can determine
the weather-neutral performance of the average facility and
how it's changing during the year vs. the benchmark.
The bad (but inevitable) news in our August weather impact
is that the decline in demand was higher than the basically flat
weather impact producing a Utilization of 57%, down 2 points
vs. YA. That continues the July pattern of flat Utilization after
our torrid 14 month streak of gains. The YtD Utilization continues
considerably elevated at 66%, up 7 points (continuing,
expected flattening).
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Curr.
Month
YtD
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Source: Golf Datatech and Pellucid
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8.0
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
-1.0
-2.0
-3.0
16 The Pellucid PersPecTive
OctOber 2021
56.9%
-1.6
65.8%
7.3
The Pellucid Perspective - October 2021

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