Dr. Joseph Beditz President, National Golf Foundation

Golf’s Vital Signs: ROUNDS PLAYED GOLF FACILITY DEVELOPMENT GOLF PARTICIPATION

Rounds Played * Forecast

Rounds by Facility Type * Forecast Public-1.3% Private-5.4% 5-year change* Same-store Sales

Rounds by Price Point Public Courses Premium (>$70)-1.9% Standard ($40-$70)-2.6% Value (<$40)-2.2% 5-year change* * Forecast Same-store Sales

Rounds by Geography -4.5% -0.2% -6.8% -1.1%-4.5% 7.9% 9.4% -6.5% -5.6% -3.8% 5.3% 5-year change* Same-store sales * Forecast

New Course Openings 18-hole equivalents

Course Closures 18-hole equivalents

Net Additions to Supply 18-hole equivalents (forecast)

Golf Participation

Summary Rounds played remain stable at approximately 500 million. Slight growth likely over the next several years. Total participants up slightly, but Core golfers have declined somewhat, resulting in flatness in rounds played. New course development stabilizing at per year. Net growth zero due to closures. Overall quality of supply gradually improving.

GOLF 20/20 Conference