The golf industry in the United States has seen two periods of sustained contraction and three periods of sustained expansion in golf course supply. The first contraction occurred during The Great Depression, while the second, which began in 2006, was triggered by the real estate market collapse and the subsequent Great Recession.
Despite the recent supply contraction, there have been over 550 new 18-hole equivalent courses opened, more than 1,500 reconstructions and major renovations, and over 250 golf courses “resurrected” since 2006. “Resurrections” refer to instances where golf courses that were closed for good were brought back to life.
Although the recent contraction has led to a net decline of about 2,200 18-hole equivalent courses, the golf industry is in a better place now than when the contraction began. Additionally, there are over 1,000 off-course facilities that have been added, which are attracting new participants to the game.
Overall, the recent contraction was necessary and good for the game and business of golf, and the industry has a higher quality supply of courses that are in better financial shape than ever before.
Are you looking to enhance your golf course or embark on a new project? Look no further than DTE Golf, the leading experts in golf course design, construction, and renovation. With the recent contraction and subsequent resurgence in the golf industry, now is the perfect time to invest in your golf course. Contact us today to discuss your project and unlock the full potential of your golfing business.
