It dawned on me…a golf course owner “with a face” is becoming a rarity. Private clubs are member owned and board run. Resorts are often owned by hospitality entities. Capital investment funds are gobbling up prestigious properties. Large golf management companies aren’t slowing down either.
I receive this trade magazine where the first 8 pages are acquisitions. Never do I read that Bill and Mary Smalley recently bought “Club X” from BlackRock Capital. I’ve never read about a mom and pop buying any golf course, unless it’s 9 holes in the middle of nowhere.
I guess my question is…why can’t golf courses be owned by regular people? What has happened in golf, where people who love golf can’t own a course anymore? Are golf courses better when owned by equity firms? What are the advantages to having a golf course owned by a regular guy and his wife who live down the street? It’s fascinating to ponder the advantages and disadvantages. It’s fascinating how golf has become a big money business, it didn’t need to be like that.
