1. Mike Hughes CEO, National Golf Course Owners Association

2. Golfs Financial Metrics

3. Prior to GOLF 20/20Prior to GOLF 20/20 –NGF: Measured participationMeasured participation Tracked golf course developmentTracked golf course development Measured rounds via consumer panelMeasured rounds via consumer panel –Golf DataTech: Retail Market Share ReportRetail Market Share Report On-course & off-courseOn-course & off-course

4. Golfs Financial Metrics Prior to GOLF 20/20 (contd)Prior to GOLF 20/20 (contd) –No standard industry definitions –Interest measured only by Nielsen ratings & tournament attendance –Various market/feasibility studies –Sporadic measurement of economic impact

5. Golfs Financial Metrics Since GOLF 20/20Since GOLF 20/20 –Established consistent definitions –Major Segmentation Study in 2001 has served as a foundation for much of our growth activity –NGF and Golf DataTech gathered data directly from facilities on rounds with input from PGA and NGCOA –PGA TOUR included monthly ESPN Sports Poll as a measurement of interest, as well as ratings and attendance

6. Golfs Financial Metrics Since GOLF 20/20 (contd)Since GOLF 20/20 (contd) –Measured scope of industry $62 billion annual business$62 billion annual business Larger than recording & motion picture industries combinedLarger than recording & motion picture industries combined –Measured charitable impact Responsible for raising $3.2 billion per yearResponsible for raising $3.2 billion per year

7. Golfs Financial Metrics Moving ForwardMoving Forward –More sophisticated measurement and reporting –Focus on trends and outside factors Socio-economic issues, demography, diversity, etc.Socio-economic issues, demography, diversity, etc. –More specific revenue information Captured at course levelCaptured at course level Unified effort essentialUnified effort essential Nothing more important!Nothing more important!

8. Moving Forward (contd)Moving Forward (contd) –PGA Performance Track –NGCOA Financial Benchmarking Golfs Financial Metrics

9. NGCOA Financial BenchmarkingNGCOA Financial Benchmarking –Simple: Tracks two numbers – Rounds & Revenue –Leverages largest multi-course owners/operators –Modeled after Smith Travel Report –Golf DataTech chosen for pilot program –Evolved into current, full program

10. Golfs Financial Metrics NGCOA Financial BenchmarkingNGCOA Financial Benchmarking –Allows courses in a Competitive Golf Marketplace (CGM) to compare their rounds played, available tee times, and golf revenue (green and cart fees) –Individual numbers are kept completely confidential

11. Golfs Financial Metrics NGCOA Financial Benchmarking (contd)NGCOA Financial Benchmarking (contd) –Program produces a Revenue Per Available Tee Time (RevPATT) and Revenue Per Utilized Round (RevPUR) index for every participant –Each can compare to the CGM average and their ranking within the CGM

12. Golfs Financial Metrics NGCOA Financial BenchmarkingNGCOA Financial Benchmarking –Implementation, data capture and reporting is administered 100% on-line –Each participant only needs to enter three numbers each month (rounds, revenue, tee time interval) –Currently: 26 CGMs participating 26 CGMs participating Represents 580 coursesRepresents 580 courses 30-40 coming on-line soon30-40 coming on-line soon

13. Golfs Financial Metrics GOLF 20/20: Whats Next?GOLF 20/20: Whats Next? –Continued focus on benchmarking/ measurement at facility level –Consistency and coordination among all groups –Emphasis on industrys economic impact nationally and at the state level –Rigorous measurement of specific programs and their effects

14. Golfs Financial Metrics InternationalInternational –Establish relationships that can provide information in both established and emerging locations –Track facility development globally –Catalogue governmental, environmental attitudes toward development –Encourage measurement of all activities, share models and metric strategies