Golf Versus Nongolf Club Operations: Benchmarks for 2014 |
| |
| Authors: | Agnes DeFranco Raymond S Schmidgall |
| |
| Institution: | 1. Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, Houston, Texas, USA;2. The School of Hospitality Business, Eli Broad College of Business, Michigan State University, East Lansing, Michigan, USA |
| |
| Abstract: | With the club industry comprising of different types of clubs, a more in-depth analysis separating clubs with and without golf operations would be beneficial. Financial performance can be summarized via financial ratios. This study surveyed 115 clubs regarding their financial performance and calculated 24 financial ratios for 2014. The median profit margin of all clubs was at 1.65%. Clubs with golf operations reported a median profit margin at 1.73%, doubling that of the nongolf operations at 0.83%. T-tests using means of financial ratios showed a statistically significantly difference in only the food inventory turnover by days. |
| |
| Keywords: | Benchmarking golf clubs golf operations golf course maintenance financial ratios |
|
|
