The future of the private golf club?
This from “Golf’s New Landscape,” a WSJ article by John Paul Newport. I can’t see that any commentary is needed from me, though I have a considerable opinion about how the current conditions will impact golf resorts and some private clubs. (Just ask me.)
“In North America alone, there are more than 40,000 families with investable assets of $30 million or more, according to the CapGemini/Merrill Lynch World Wealth Report, and approximately 300,000 U.S. taxpayers with reported annual incomes greater than $1 million, according to the IRS. Among them are many golf nuts….
“For golfers still clinging to jobs, there is an upside. Less demand and more supply equals bargains. But even many seemingly successful clubs and golf communities aren’t filled to capacity, which often means higher fees and assessments for members and, in some cases, extreme difficultly leaving without taking a bath.”
I think your readers would be more than a little interested in your opinion…lay it on us.
Posted by B.I.G. on 10.11.08.Come on now, out with it.
Posted by BJ Maloy on 10.31.08.Mark, I’m not quite sure what the WSJ article has to do with the golf market. It talks about four or five ultra exclusive developments catering to an ultra rich market. So what? Who cares? There has always been, and always will be developments like these. And some will always be successful and some will always fail. What’s that got to do with the golf market in general or the economy for that matter? The writer seems to be trying to shoot holes in the golf development business, but came to a gun fight without bullets in his gun. Tom Doak is worried about out of work golf course architect apprentices? Out of work Wall Street types will have more effect on the golf business.
TS
Posted by Tom Stine on 10.31.08.