The economics of golf course condition and beauty

This paper reports on the statistical relationships between golf course condition and beauty and the relationship of these with revenues and maintenance expenditures. Using interviews from more than 900 golfers at 46 public access golf courses, measures of the golfers' ratings of golf course condition and beauty were obtained. Both beauty and condition positively influence golf course revenue. Furthermore, the marginal cost of condition is of the same magnitude as the marginal revenue of condition, indicating that golf course management is optimizing regarding golf course condition. Beauty, however, may be more closely related to scenic vistas and golf course design and not to yearly maintenance expenditures.