The Vol. 14, No. 7 July 2023 GOLF SUPPLY OBSERVATIONS 2 7 10 12 14 16 How is the shape and future of supply changing? By Stuart Lindsay INDUSTRY PERFORMANCE UPDATE Golf Operations sector showing surprising strength through six months By Jim Koppenhaver COMINGS & GOINGS 11 Activities; 1 Closure mars our 10-month streak WEATHER IMPACT June GPH gains +2%, Year-to-Date still healthy at +6% BY-THE-NUMBERS May Utilization jumps, drags Year-to-Date into positive territory MARKET FOCUS Chicago #18 in newest ranking; golfers/golf abundant but could use affordability improvement www.PellucidcorP.com The Pellucid PersPecTive 1http://www.PellucidcorP.com