The Pellucid Perspective - June 2024 - 14

INDUSTRY
SCORECARD
Apr Utilization basically flat at -1 pt (rounds, weather both
up fractionally), Year-to-Date remains neutral at -1 pt
Industry Key Performance Indicators at-a-glance
Rounds by Facility Type Apr 2024
All Fac.
Types
5.0%
4.5%
4.0%
3.5%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
4.2%
Public
Access
4.4%
Private
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3.8%
0.8%
0.8%
0.5%
Source: Golf Datatech
n Curr Month
n Curr YtD
Looking at demand for April as reported by Golf Datatech, we
saw basically flat performance at +1% vs. Year Ago (YA). That
result dampened the Year-to-Date figure to +4% for All Facilities.
According to Datatech, the month's flatness was reflected
relatively evenly across both Public and Private segments. That
leads us to the monthly question of " How much of the demand
change was due to weather vs. changes in golfer engagement? "
For the answer, we'll need to look at the month via Pellucid's
unique Utilization view.
n %Utilization
n Pt. Chng vs. FY '22
Utilization & Point Change Apr 2024
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) '23 value of 61%.
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 flat rounds demand result in April basically matched the
previously-reported weather flatness leading to a stabilization
of Utilization after multiple months of multi-point declines
(which is why measuring weather impact matters as the " reality
check " for both ups and downs in demand). For the YtD period,
that left the cumulative figure relatively unchanged and in neutral
territory at -1 point. In the absolute, we're still holding our
own at north of 60%+ Utilization to start '24 which represents
a retreat from the COVID peaks near 70% but remains well
above the pre-COVID trading range of 52-55%.
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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0.0
-0.2
-0.4
-0.6
-0.8
-1.0
-1.2
14 The Pellucid PersPecTive
June 2024
60.1%
-1.0
60.4%
-0.7
The Pellucid Perspective - June 2024

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