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| Publication Type:
| Trade |
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| Author(s): | O'Connor, Larry |
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| Author Affiliation: | Raleigh, North Carolina, and Contributing Writer, Golfweek's SuperNEWS |
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| Title: | Courses giving way to real estate: Grand Strand land values too hot for some to let pass |
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| Section: | Business report
Other records with the "Business report" Section
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| Source: | Golfweek's SuperNEWS. Vol. 7, No. 22, December 9-23 2005, p. 12. |
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| Publishing Information: | Orlando, FL: Turnstile Publishing Company |
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| # of Pages: | 1 |
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| Keywords: | TIC Keywords: Golf course management; Business management; Property values; Economic impacts; Golf course industry; Golf industry trends
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| Abstract/Contents: | Discusses the effect of real estate on the golf industry, stating that "sky-rocketing land values on and near the Grand Strand [North and South Carolina] and a glutted golf market have induced a growing number of area golf course owners to sell their properties to residential real estate developers eager to cash in on one of nation's hottest housing markets." States that "developers bought five courses in 2005 alone - Calabash, Belle Terre, Winyah Bay, Raccoon Run and Ocean Isle Beach." Explains that "it's hard to play golf on land worth $40,000, $50,000 and $60,000 an acre with the yields we were getting here...it was purely a matter of economics. They came and made me an offer, and when I got away from my heart and let my mind take over, there was no way that I could continue to operate a golf course." States that "the main problem for owners has been an excess supply of courses...it's a win-win situation. It's a win for those who have gotten a fistful of dollars for their land, and it's a win for those choosing to remain in the golf industry, because of the increased number of rounds that are now available to them." Concludes that the golf courses that "cater to the golfer and improve their product and show great customer service are going to make the money that they need to stay in business and show a nice profit." |
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| Language: | English |
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| References: | 0 |
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| ASA/CSSA/SSSA Citation (Crop Science-Like - may be incomplete):
O'Connor, L. 2005. Courses giving way to real estate: Grand Strand land values too hot for some to let pass. Golfweek's SuperNEWS. 7(22):p. 12. |
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MSU catalog number: SB 433 .G65 |
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