HFT1000 Final Exam Study Guide Golf the Game Introduced by the Scots Golf played by 30 M Americans year Direct impact of 76 B to national economy Provides 2 M jobs Some call it the greatest of all games USGA handicap system allows one to Can compete against yourself Can compete against others of different skill levels Played outdoors In harmony with the environment Home to much wildlife 18 holes typical course 4 different sets of tee markers Championship players Average players Senior golfers Women Facilities Typical golf facilities include Practice areas Driving range Putting green Golf shop Merchandise for purchase or rent Halfway House Serves F B at the turn Dining room or Grill Many country clubs and resorts also have Multiple dining options Golf the Business Tennis courts Swimming pools Caddie shacks and Equipment firms 6 7 U S golf industry Operations Largest source of revenue Over 19 000 facilities Approximately 28 B per year Play Americans play around 500 M rounds year Real estate Nearly 1 7 M homes are currently on or near a golf course Resale of these occurs twice as fast and on average 70 higher sales price than homes in subdivisions without golf courses Organizational Chart Key Managerial Positions General Manager Responsible for the entire operation Most senior employee or highest ranked Needs to be strong leader problem solver and visionary Not expected to be an expert in all areas of golf but strong enough golf industry knowledge to facilitate management team decision making Minimum Qualifications 4 year degree 7 years club industry Club Managers Association of America CMAA member Head Golf Professional Sometimes called Director of Golf The face of golf Works with GM on golf operation budget Works with Golf Course Superintendent on daily basis to monitor conditions of course Other responsibilities include Merchandising Tournament management Golf instruction Golf car services Maintaining golf rounds needed to attain financial goals Two paths to become a PGA Golf Professional 1 PGA PGM Apprentice Program 2 PGA Golf Management University Program Both programs are minimum of 4 1 2 years to complete Golf Department Key Managerial Positions Golf Course Superintendant Responsible for the golf course Including its maintenance and budget Must assure health playability of the turf grass Has extensive knowledge of Irrigation systems Fertilizer applications Heavy equipment Bachelor s degree in Agronomy or Turf Grass Management Holds Chemical application license s Certified by the Golf Course Superintendants Association of America GCSAA Food and Beverage Manager Responsible for all aspects of F B Primary objective is to provide consistent food in all venues Meet department s financial goals Success is vital to attract and retain members and guests Several different food venues likely Fine dining Casual dining Banquets Bar food Halfway House Beverage cart foods and drinks Food Beverage Department Golf Facilities Private Clubs Two primary types of private clubs Equity clubs Owned and governed by their members Not for profit clubs Non equity clubs Investor or company owned managed by owner or management team Profit oriented run like a business Several membership categories can be found in both equity non equity clubs Golf Facilities Resorts Located in destination areas Often include variety of other amenities along with golf Target market for resort golf is travelers who Stay at hotel resort Dine in the resort s restaurants Play golf on the resort s courses Golf Facilities Semi Private Clubs Members Non members play the course o Recently some clubs became for profit facilities to allow outside play Members enjoy advantages of membership Membership fees usually decrease o Costs offset by non member revenue Golf Facilities Daily Fee Courses Categorized by per round of golf High end daily fee 75 125 range for green and cart fees Daily fee courses Lower end courses 35 75 range Daily fee courses rely solely on transient golf no members Golf Facilities Municipal Courses Set up similar to daily fee courses Key difference is these are government owned Management of facilities is sometimes contracted out to management companies Trends Economic downturn has hit golf industry very hard Some courses have closed Some courses have hired golf management contract companies to manage operations Golf is growing abroad especially in Asia China is one of fastest growing markets Over half of their 300 golf courses were built within last 10 years Foreign players popularity and performance on both PGA and LPGA tours has increased interest in game Origin Sport Entertainment Services People have long traveled to central locations to attend sporting events and enjoy accompanying entertainment Today s mega event entertainment began 5th century B C Greek Olympic Games Gladiators at the Roman Colosseum Medieval Europe jousting Late 19th century initiation of team competitions in Football Baseball Soccer revitalization Sports and entertainment complexes offer a focal point for urban development and or Development of sports and entertainment complexes in the U S follows influencing factors aimed at maintaining a vital downtown district in cities Societies movement to suburbs in the 70 s hurt inner cities Efforts to revive downtown areas tried to capitalize on identifiable advantages Unique cultural experiences in historical urban neighborhoods Access to transportation Expansive public parking spaces Existing large sports venues such as stadiums and arenas Steady growth of the events and meetings market Continued presence of downtown business workers Festival Marketplaces Entertainment Centers 1980 s developer James W Rouse integrates these aspects to create festival marketplace Integrated downtown Cultural districts Convention facilities Entertainment facilities Utilized natural urban boundaries Waterfronts bridges Created space that was safe and easily accessible to pedestrian traffic Still remain successful in many cities in U S Pier 39 in San Francisco Union Station in Washington D C Other forms of entertainment centers gained popularity Location Based Entertainment sites LBEs Entertainment sites anchored by large cinema Combine entertainment dining and specialty retail Usually have a large sports arena within facility Example The Verizon Center in Washington D C Factors that contribute to growth Increased leisure time Increased disposable income of customers Growing market of those seeking family
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