Is Golf Really Experiencing a ‘Munissance’?

Over the past decade, there’s been a net gain of approximately 100 municipal golf facilities in the U.S. And, as detailed in this Fortnight piece, municipal supply has increased by 5% during the current market correction that dates to 2006. During that 18-year stretch in which annual course closures have exceeded new openings, the number of daily fee public courses – from resorts to mom-and-pop operations – has declined by 17%.   There are three primary reasons for the supply increase in the municipal golf space, with conversions leading the way (by a significant margin) over new openings and “resurrections.” While more than 150 municipal ...