By all accounts, the volume of golf course transactions are up, and some predict that sales in 2010 will double what we saw in 2009. Most of these are struggling courses. But for many, the owner is struggling and not necessarily the course.
Joe Beditz, president and CEO of the National Golf Foundation, has predicted that rounds and revenue will stay flat in 2010, leading to more transactions.
“We believe that the number of transactions might increase in the future for a few reasons,” Beditz said. “As interest rates rise and current loans are “re-set”, an increasing number of owners will find it difficult to remain current on their loans. Second, owners who are currently covering operating deficits will be unwilling to do so forever.”