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State of the Industry

State of the Industry. 1.0 Golf Demand. Long-term Participation Trend. Participants (MM). Source: NGF golf participation study - 1990 is a calculated average of 1989 and 1991. Participant Gains v. Losses. Recessionary effect. Participants (MM) . Source: NGF golf participation study.

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State of the Industry

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  1. State of the Industry

  2. 1.0 Golf Demand

  3. Long-term Participation Trend Participants (MM) Source: NGF golf participation study - 1990 is a calculated average of 1989 and 1991

  4. Participant Gains v. Losses Recessionary effect Participants (MM) Source: NGF golf participation study

  5. Rounds played – 2012 (up 5.7% nationally) (% Change from previous year) New England (+3.2%) Mountain +7.0% W. N Central +7.6% E. N. Central +10.8% Pacific (+1.6%) Mid Atlantic (+10.1%) So. Atlantic (+2.4%) +2.0% or higher +1.9% to -1.9% -2.0% or lower So. Central (+5.0%) Source: Golf Datatech National Rounds Played Report in cooperation with PGA Performance Trak and the NGF.Based on a sample of approximately 4,000 reporting facilities

  6. Rounds played – 2012 (Public Facility Concentration 2012 U.S.) West N Central (+7.6%) East N Central (+10.8%) Highlighted area contains almost half (47%) of the nation’s public golf facilities. Mid Atlantic (+10.1%) Source: Golf Datatech National Rounds Played Report and NGF golf facility database.

  7. Rounds volume

  8. 2.0 Golf Supply

  9. 2.1 Courses/Facilities

  10. Course openings 18-hole equivalents Source: NGF Facility Tracking

  11. Course closures 18-hole equivalents • 2012 Closures: • PUBLIC: 139.0 (90%) • Daily Fee: 130.5 (84%) • Municipal: 8.5 (6%) • PRIVATE: 15.5 (10%) • REAL ESTATE: 34.5 (22%, incl. both public and private) Source: NGF Facility Tracking

  12. Net change in supply 18-hole equivalents Net Change = openings minus closures (in 18-hole equivalents) Source: NGF Facility Tracking

  13. 2.2 Golf Supply v. Demand

  14. Rounds & golf course supply % Change in rounds (from previous year) (-3.0%) (-1.5%) (0.9%) (0.0%) (0.3%) (-0.6%) (-1.8%) (-0.6%) (-2.3%) (-2.5%) (5.7%) Rounds Per 18 hole equiv. Decade -12.1% Course Supply (18 hole equiv.) Decade +1.7% Source: NGF/Golf Datatech

  15. 2.3 Range & Retail Supply

  16. Continued contraction in range supply 2012 We have seen very little change in the range size proportions since 2000:

  17. Retail supply 5-year trend

  18. Retail – 2012 snapshot 1,078 Doors 8.5 mm Sq. Ft.

  19. 3.0 Industry Spending

  20. Domestic – club shipments

  21. Domestic – ball shipments

  22. Facility maintenance budget index (1) Excluding capital expenditures and water

  23. Turf maintenance equipment YE = Year End MY = Mid Year

  24. 4.0Consumer Confidence

  25. Consumer Confidence Index 90 = normal Index currently stands at 76.2 Through May 2013 Source: The Conference Board

  26. Consumer spending May -13 $92 Source: Gallup

  27. Consumer Spending Improving Real Personal Consumption Expenditure Index [Index numbers, 2005=100] Seasonally adjusted Source: Bureau of Economic Analysis

  28. Recessionary Impact on Net Worth S&P 500 and Case-Shiller Home Value Indices Case-Shiller Home Value Index (year 2000 as 100) S&P 500 Index Source: S&P 500 / Case Shiller

  29. Overall takeaways • Golf continues to slowly recover from the effects of the Great Recession • Outlook for 2013 is modestly – and cautiously– optimistic • Golf’s economic recovery remains dependent on the recovery of the overall economy and continued increases in consumer confidence and spending

  30. State of the Industry

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