Data from the inaugural GolfSixes competition, a short-format golf concept, last year shows that it saw a 42 percent increase in new golf fans at the event compared to standard European Tour tournaments. Those attendees were also 14 percent younger than those seen during the rest of the golfing calendar.
Board member Bob DeMarois said keeping it closed during summer would not be attractive to a potential buyer. The property includes land, rooms, a nine-hole golf course and a string of cabins.
The acquisition gives Swing by Swing Golf one of the industry’s top digital marketing firms and grows the combined companies’ daily audience and reach to over three million golfers globally.
A new course prepares to open, meanwhile Boca Municipal, the 194-acre course on Glades Road west of Florida’s Turnpike, will close within 18 months of December, when the city sold it to home developer GL Homes for $65 million.
Caroline Jerome, a Topgolf spokeswoman, said that at this time she can only confirm the Dallas-based company's interest in pursuing what she termed a "Cleveland-area location." No details will be available until later, she said.
A provision included in the recently-approved tax reform bill could severely harm the U.S. golf industry. The legislation eliminates a tax break that has allowed businesses to deduct up to 50% of entertainment, amusement or recreation expenses incurred as a result of genuine business-related activities. Those could include concerts, charitable events, sporting events or spa treatments.
One of Callaway Golf's smartest investments in recent years -- outside of all the stuff that goes into making golf clubs -- has been in Topgolf.