JUPITER, Fla. – Feb. 15, 2005 – NGF has announced the number of golf course openings in 2004 as well its forecast for course development in 2005.

The data show that the number of new courses being built has decreased every year since 2000. In 2004, there were 150.5 course openings and 62.5 verified closures (in 18-hole equivalents), for a net gain of 88 courses, representing a net increase of approximately one-half of one percent. The 2005 forecast is for 150-160 18-hole equivalent course openings. In contrast, nearly 400 18-hole equivalents opened in 2000.

"To many golf course owners and operators, the slow-down is a welcome relief because it indicates that golf course development has adjusted to the lack of growth in demand," says Joe Beditz, NGF president and CEO. "However, the decrease in new courses does not come as good news for the golf course design and construction business."

Including the 2004 openings, the total number of U.S. golf facilities stands at 16,057, thus breaking the 16,000 mark for the first time. Adjusting for 9-hole and 18-hole-plus facilities, there were 14,988 18-hole equivalents at year's end.

Of the new courses, 102.5 are open to the public and 48 are private. Real estate-related courses accounted for 59 percent of new development in 2004. Real estate has consistently driven 40 to 60 percent of new course development and is expected to continue to do so. However, the overall number of new real estate-related courses is lower than in the 1990s. "While many industry observers are expecting the real estate market to cool down due to rising interest rates and extraordinary price increases over the past several years, new real estate developments will continue to be built and some developers will continue to add golf as an amenity," adds Beditz.

NGF also tracks the development pipeline of courses that are in planning or under construction. As of December 31, 2004, there were 320 18-hole equivalents under construction; 410 that have begun the in-planning phase; and another 261 that have been proposed (pre-planning stage).

The full golf course development report, including a description of the total supply of U.S. golf courses, is available in Golf Facilities in the United States, 2005 edition. For information about the report, call NGF at (561) 744-6006.

About the NGF

The National Golf Foundation, founded in 1936, is the industry leader in providing accurate information and insights on the business of golf. Based in Jupiter, Fla., the NGF serves many constituencies in the golf industry including equipment manufacturers; builders and developers; facilities and ranges; course architects; retailers; turf maintenance suppliers; golf associations and the media.

National Golf Foundation, 1150 South U.S. Highway One, Suite 401, Jupiter, FL 33477

Contact:
Jim Kass
jkass@ngf.org
561-744-6006