2008 State of the Industry

Just released for golf course owners, operators, and developers... 2008 State of the Industry Survey.

San Diego, CA, September 09, 2008 --(PR.com)-- Golf industry professionals optimistic about State of the Industry.

Escalating costs and sagging economies have clouded conditions for the golf industry around the world. But a new survey of industry professionals by Golf Inc. magazine shows that the people who make their living in the golf business are hopeful about what’s ahead for the remainder of 2008 and into 2009.

Golf Inc. received responses to the study from more than 500 owners, developers, product and service vendors and management executives on a range of economic and operational issues. A full report on the State of the Industry survey is available in the most recent digital issue of Golf Inc., http://www.nxtbook.com/nxtbooks/cypress/golfinc0808/

The study showed that among facility operators, 48 percent expect their 2008 revenues to increase slightly over 2007 levels, with another 7 percent anticipating significant increases. Nearly 70 percent are even more optimistic about the coming year, rating their business prospects as good, very good or excellent.

Other segments of the golf industry reflected the same optimism. Among developers and builders, 67.7 percent said they expect 2009 to be good or very good for their businesses. Product and service vendors were even more upbeat, with 71.0 percent rating their prospects from good to excellent.

The survey also assessed reader opinion on hiring plans and revenue expectations for the coming year, as well as what they see as the most critical issues facing the industry today.

Among the other questions addressed in the survey:
- How many operators plan to raise greens fees?
- When do developers expect to see course construction rebound?
- How many product and services vendors expect to increase prices?
- How much do management company executives plan to spend on capital improvements at their properties?
- What percentages of tee times are booked online?

Golf Inc. Magazine
Chase Peckham