Course Owners Using Confidential Information To Evaluate Performance, Operate More Efficiently
CHARLESTON, S.C. (Jan. 11, 2006) – Continuing to add believers in its recently launched Financial Benchmarks Program, the National Golf Course Owners Association announced that course owners and operators in Myrtle Beach have joined peers in markets throughout the U.S. as participants in the industry’s most comprehensive initiative to monitor the game’s key financial measurements.
In addition to pilot markets launched in Atlanta, Las Vegas and Phoenix earlier this year, owners and operators in Los Angeles, San Diego, Orlando, New England, Ohio, Houston, Dallas-Ft. Worth, Chicago and Washington, D.C.-Baltimore have joined the program.
"We’ve seen consistent growth in the program’s first four months throughout the U.S. and with all types of facilities," said Mike Hughes, CEO of the NGCOA. "Even more important is the fact that every participant I’ve spoken to is convinced this program makes him or her a smarter operator."
Based on information provided by participating owners and operators, the Financial Benchmarks Program provides confidential, market-specific reports to help golf courses evaluate the performance of their facilities, compare their results to competitors and operate more efficiently. The reports measure participation, revenues and course utilization on a monthly and rolling basis.
"We have collected a wide range of data over the years, but courses here have been reluctant to share revenue information," said George Hilliard, executive director of the 100-member Myrtle Beach Area Golf Course Owners Association. "Because a third party is collecting and distributing this data, our members are willing to release revenue numbers. When owners can compare revenues, they’re in a better position to understand how they are doing relative to other similar courses in the market and they can make informed operating and marketing decisions."
The NGCOA is working with Golf Datatech, a noted golf industry market research firm, to collect and report the financial benchmarks.
"For the first time I feel confident that we have real industry information that allows us to not only validate our own information, but also to measure ourselves against any of the various markets where we operate," said John Easterbrook, executive vice president-Operations for Troon Golf, which manages operations at more than 160 courses located in 27 states and 18 countries.
Having current competitive information at their fingertips allows owners and operators to gauge the strength or weakness of their own business, said Kevin Osgood, president of Newton, Mass.-based Sterling Golf Management. "In the past, if I were up seven percent over the same month a year ago, I probably felt pretty good. But if I know my competitors were all up 14 percent, then my seven percent doesn’t feel quite as good."
The reports also help owners like Gene Garrote of Celebration GC in Orlando take the guesswork out of strategic issues such as pricing. "The information this program provides can validate our thinking about raising rates and also help us know what might be too much."
For more information on the Financial Benchmarks Program, to see sample reports and to learn how to participate in the program, go to www.ngcoa.org/benchmark or contact Bill Bryant (Bryant Marketing Communications) at 678.366.3232 or Joe Rice (NGCOA) at 800.933.4262.
Contact:
Bill Bryant, Bryant Marketing Communications
678.366.3232
bbryant@bryantmarcomm.com
Joe Rice, NGCOA
800.933.4262 Ext. 222
jrice@ngcoa.org
