The Pellucid Perspective - April 2024 - 10

COMINGS
& GOINGS
Too few to report but...some trends and observations
W
hile we're not sure whether the
industry took a month off from
transactional activity or the public
domain sources we monitor were unusually
light (in aggregate, not just one),
but the net effect was we only logged 4
activities so we're going to roll those over
into the May column and just comment
this month on a couple things we saw and
felt were of general interest.
Resurrections continue. Those of you
who follow this column will know that
we're seeing roughly one every other
month of these dormant courses (we
informally define that as being closed
>12 months) being brought back to life.
While not a scientific ratio, it appears during
the period we've been tracking to be
a roughly 50/50 split of the incumbent
owners taking another swing at it and
new parties (who either previously acquired
the property but didn't develop it
or bought into the dormant course with
the purpose of resurrecting it). While this
idea may have made little economic sense
5-10 years ago, the combination of scarce
golf-developable real estate near population
centers that will support them and
the post-COVID upward trajectory of
golf industry macros now makes this an
interesting proposition in the right circumstances/locations.
The latest example
is the former Cape Royale GC in Coldspring,
TX which has been dormant for
6 years but is now slated
to re-open in '26 by the
Trinity River Authority
as the TRA Lake Livingston
Regional Public
GC (that's a mouthful)
with the reconstruction
reins handed to Landscapes
Unlimited.
Of
note, Landscape's joint
capabilities in development
and management
have put them in a relatively
unique position
for these types of assignments.
We'll watch with
interest to see how the
resurrections perform in
Years 1 and 2.
10 The Pellucid PersPecTive
by a high tech golf experience, heated
suites, two bars and a full-service restaurant.
Billed as a two-story facility but also
having the ability to play virtual courses,
it seems that it will be some combination
of TopGolf and simulator golf built
off the model of a few successful implementations
in Canada to date. This will be
their first US location and they're " stacking
the deck " considerably by locating it at
the Mystic Lake Casino Hotel in a joint
development with the Shakopee Mdewakanton
Sioux Community (SMSC).
That should be mutually-beneficial in providing
a steady stream of traffic to the site
for trial as well as benefit the SMSC by offering
another " diversion " for their guests
when not engaged in the casino or other
resort services.
Finally, the Byrncliff Golf Resorts &
Banquets facility in Varysburg, NY (think
like Buffalo/Niagara general location upstate)
took advantage of being on the path
of the solar eclipse by hosting an event at the
facility this past Monday, April 8 including
a scavenger hunt on the course for the kids
and providing viewing glasses and instructions
in viewing safety for their 3 minutes,
32 seconds of totality. As mentioned in the
The golfertainment sector gets another
player/format with the planned LaunchPad
Golf in Lake Prior, MN. Plans call
for a 160K sq. foot driving range driven
Market Focus section on Cleveland (which
" hosted " totality about 5 minutes prior to
the arrival at Byrncliff), you didn't have to
be a big city location to generate awareness,
have some fun and make some money off
the event. Great creative
thinking! Pellucid actually
viewed the eclipse from
the Neil Armstrong Air &
Space Museum in Wapakoneta,
OH which was
also a great show (nearly
4 minutes of totality) and
another example of using
natural events to create
awareness, education and
fun. See nearby map on
the 3 distinct " events " and
the accompanying great
time-lapse of the event
captured in OH by Gabbie
Tatad-Koppenhaver
(very talented daughterin-law)!
April
2024
PHOTO COURTESY OF GABBIE TATAD

The Pellucid Perspective - April 2024

Table of Contents for the Digital Edition of The Pellucid Perspective - April 2024

TOC
Muni golf is evolving in size and shape: How and why?
Are Golf & Skiing on Parallel Paths?
A pregnant pause in activity or visibility gap?
March delivers “wow” GPH at +28%, Year-to-Date swings to positive at +7%
Feb Utilization declines 4 pts (rounds up, weather up more), Year-to-Date moderates to +2 pts
Cleveland, at #21, in the April spotlight hosting both NCAA women and total solar eclipse “must-sees”
The Pellucid Perspective - April 2024 - TOC
The Pellucid Perspective - April 2024 - Muni golf is evolving in size and shape: How and why?
The Pellucid Perspective - April 2024 - 3
The Pellucid Perspective - April 2024 - 4
The Pellucid Perspective - April 2024 - 5
The Pellucid Perspective - April 2024 - 6
The Pellucid Perspective - April 2024 - Are Golf & Skiing on Parallel Paths?
The Pellucid Perspective - April 2024 - 8
The Pellucid Perspective - April 2024 - 9
The Pellucid Perspective - April 2024 - A pregnant pause in activity or visibility gap?
The Pellucid Perspective - April 2024 - 11
The Pellucid Perspective - April 2024 - March delivers “wow” GPH at +28%, Year-to-Date swings to positive at +7%
The Pellucid Perspective - April 2024 - 13
The Pellucid Perspective - April 2024 - Feb Utilization declines 4 pts (rounds up, weather up more), Year-to-Date moderates to +2 pts
The Pellucid Perspective - April 2024 - 15
The Pellucid Perspective - April 2024 - Cleveland, at #21, in the April spotlight hosting both NCAA women and total solar eclipse “must-sees”
The Pellucid Perspective - April 2024 - 17
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