Golf and Club Valuation

Golf courses and clubs are valued on how they operate. Greens fees, memberships, food and beverage, and events drive the value, and the course is only as strong as the business around it. We value them as going concerns, with the value allocated among real property, equipment and business intangibles.

  • Courses valued within the hotel or resort they serve, with the course’s contribution to room rate and group business made explicit.

  • Courses within private communities, including clubhouses, pools and common-area amenities, valued as the operating club they are.

  • Public courses for agencies and their lenders, including lease and concession structures.

  • Courses valued on rounds, rates and the market they draw from.

DISCUSS A PROJECT

Built for lenders and their credit teams

Most of our golf work has been for lenders. Each appraisal values the course as the operating business it is, allocates the value among real property, equipment and business intangibles, and states every assumption a credit officer will test, from rounds and membership trends to the capital the course will need.

What drives a golf property’s value

Rounds and Rates

Rounds played, greens and cart fees, and how well the tee sheet fills.

Memberships

Initiation fees, dues, attrition and the waitlist.

Food, Beverage and Events

Clubhouse dining, banquets, weddings and tournament outings.

Course Condition

Greens, irrigation, bunkers, maintenance equipment and the capital the course will need.

Clubhouse and Amenities

Clubhouses, pools, fitness and the common-area amenities of private communities.

Land and Alternative Use

Highest and best use, development pressure and any restrictions that keep the land in golf.

Golf green with a flagstick under a blue sky

More than 50 golf properties over nearly three decades

Resort, private and municipal courses. Stand-alone courses, and courses valued within the resorts and private communities they serve, including clubhouses, pools and common-area amenities.

Built for the people who rely on the number. Lenders, owners and investors receive a conclusion they can underwrite, with every assumption stated and every input traced to its source.

Contact us.

info@gpvaluation.com

DC Metro: 1640 Boro Place, 4th Floor, McLean, VA 22102

Northeast Florida: 425 Town Plaza Ave, Suite 230, Ponte Vedra, FL 32081

Northeast Ohio: 1409 W. 10th Street, Cleveland, OH 44113