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More money is flowing into golf courses, but not necessarily because greens fees are on the rise.
PGA PerformanceTrak reports total median year-over-year revenue of golf courses nationwide rose 2%, to a little more than $189,000 in April. All revenue streams increased compared to the year before, from greens fees to merchandise to food and drinks.
One reason for the increase: More rounds are being played. Nationally, the average course saw a 5.7% spike in golf rounds, but only a 1% improvement in greens fees. That suggests fees aren't rebounding as fast as demand.
Four states surpassed 3,000 rounds played in April, including Florida. But the growth rate in those states was low on a percentage basis, at least in comparison to states not traditionally known for golf, like North Dakota and Minnesota. Those states, partially courtesy of a drier winter, more than doubled rounds over 2014. In those states golf courses were open for more than 25 days in April, compared to 14 the year before.
Still, 16 states experienced a drop in the number of golf rounds played, including Hawaii, a state where golf courses were open every day.
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