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2009 KPMG Caribbean Golf Benchmark Survey
Benchmark indicators for the operational performance of golf courses in the Caribbean region This second edition of the Golf Benchmark Survey in the Caribbean was based on responses from 50 golf course operators regarding their operational performance in 2008. Some key highlights of this regional report include:
In light of sharply contracting tourism arrivals, it is not surprising that an overwhelming 87% of the golf course operators indicated that the economic downturn has had a negative impact on their operations and financial results.
Only 45 percent of the participating golf courses reported a positive gross operating profit (GOP), compared to 64 percent in 2006. These courses had an average GOP of almost USD 600,000 in 2008, with the top 25 percent of performers achieving a profit close to USD 1 million on average.
The top 25 percent of golf courses in the Caribbean (based on annual turnover) reported revenues of USD 3.2 million, almost twice as high as the regional achieved average of USD 1.7 million.
Prospects for golf course owners and operators in 2010 appear rather pessimistic in most surveyed countries.About the Golf Benchmark
The Golf Benchmark is the market intelligence initiative of KPMG’s Golf Advisory Practice in Europe, Middle East and Africa (EMA). The Golf Benchmark was designed to collect and share comparable golf industry benchmarks and to provide golf market analysis primarily across the EMA region, but also further afield. Please visit the www.golfbenchmark.com website where this report, and all the other golf benchmark and associated reports, can be downloaded for free. The 2010 Golf Business Forum
The KPMG Golf Business Forum will be held at The Gloria Hotels & Resorts in Belek, Turkey on May 12-14, 2010. Registration and details are available on www.golfbusinessforum.com.
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