June 2022 Golf Industry Report

I attended the Ole Miss graduate commencement ceremonies for middle daughter. The guest speaker provided several good talking points for your next management meeting, including:

(1) Find your inter-bold: Be willing to take chances on new concepts.

(2) Stay one step ahead: Anticipate what trends may be on the horizon.

(3) Communicate with influence: As management, others look for your direction.

(4) Keep your eyes open to your surroundings: How do you compare to your local peers and competition in other parts of the country?

(5) Always surround yourself with the best: You are competent in several job titles, but not all.

In summary, you are a Swiss Army Knife with many tools to get the job done.

Inflationary Spiral

We are all experiencing the impacts of inflation on our operations. The big question is how much/if any of the pricing pressure is transitory. One of the most prestigious private communities in South Carolina has a terrific operational idea to “hedge their bets.” They purchased $60,000 in gas cards for their front line workers. The impact is two-fold. First, the gas cards are a boost in overall compensation for targeted staff. Second, should gas prices (and other prices) ebb, they can eliminate the perk without a long term bump in overall salaries/compensation.

McDonalds Case Study

With inflation raging, history can teach us valuable lessons. In 1991 – with the economy stagnant because of the Gulf War – McDonalds introduced the concept of its Extra Value Meals. The results? Sales increased six percent and profits were up seven percent. In a quest to provide more value to your members, consider introducing your own version of Extra Value Meals at your halfway house or informal dining venue by combining a meal, side, and drink.

A Retreat from the Traveling Masses

Did you know there are 28,670 commercial passenger flights across America each day? Retreats for the affluent traveler are airline lounges that provide a less crowded and more comfortable space from throngs of people. I am pleased to announce our partnership with American just celebrated its 14th anniversary and we have marked our 11th year with Delta. Executive Golfer’s print edition is distributed in domestic Admirals Clubs and Sky Clubs.

Walking Does a Body Good

The average length of an 18-hole championship golf course from the tips is about 7,200 yards or 9,870 steps. So if you’re trying to hit that 10,000 steps a day goal, playing a round of golf (and walking) has you covered.