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NGF: Course closings continue to outpace openings

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Golf course closings outpaced openings for an eighth consecutive year, according to the National Golf Foundation.

NGF reported 157.5 course closures in 2013, compared to 14 openings. The numbers are measured on 18-hole equivalents.

“As in recent years, these closures were disproportionately seen in lower-priced public facilities – 66 (percent) of total closures were among courses with a sub-$40 peak greens fee,” the report read.

Since 2006, there has been a cumulative net reduction of 643 courses, according to NGF. From 1986-2005, there was an overall addition of 4,500 courses.

“(T)he gradual market correction is expected to continue for the next few years,” the report read. “Annual net reduction of supply should be in the 130-160 range, helping us inch toward a healthier supply and demand balance.”