Redeveloping some or all of golf course land as residential or resort units often gives a golf course owner the opportunity to transform a failed golf course into a profitable venture. The oversupply of golf courses and the financial difficulty many courses face have been discussed in Hospitality Law Check-In (see “Growing the Game of… Continue Reading
Golf demand peaked in 2001 and has been steadily declining ever since. In particular, the demand for full golf memberships in master-planned communities has declined by 50 percent. Owners of many courses cannot operate them profitably. Such golf course owners should consider the alternative of redeveloping their golf courses to other uses.