2.13.3.1Vertical

Golf Course Management Companies

Companies managing public and private golf course operations.

Market snapshot

These figures describe Golf Courses & Country Clubs (2.13.3), the segment that Golf Course Management Companies sits within — not Golf Course Management Companies on its own.

Market size
~$31B
Growth
~6.3%CAGR (2017–22, nominal)
Companies
~10,100
FragmentationConsolidatingEstimate

U.S. Census Bureau 2022 CBP/Economic Census, NAICS 713910 (Golf Courses & Country Clubs); growth reflects a post-pandemic golf surge.

Business model & economics

Revenue model

Memberships and dues, green fees, F&B, and events

Key economics

Recurring revenue
High at private clubs

recurring dues

EBITDA margin
Varies; real-estate-heavy
Capex intensity
High

Characteristics

  • Post-pandemic golf surge lifted participation and economics.
  • Recurring dues at private clubs underpin value.
  • Management contracts and ownership platforms consolidating.

Geographic concentration

AlabamaAlaskaArizonaColoradoFloridaGeorgiaIndianaKansasMaineMassachusettsMinnesotaNew JerseyNorth CarolinaOklahomaPennsylvaniaTexasWyomingConnecticutMissouriWest VirginiaIllinoisNew MexicoArkansasCaliforniaDelawareDistrict of ColumbiaHawaiiKentuckyMarylandMichiganMississippiMontanaNew HampshireNew YorkOhioOregonTennesseeUtahVirginiaWashingtonWisconsinSouth CarolinaIdahoNevadaVermontLouisianaRhode IslandNorth DakotaSouth DakotaIowaNebraska

Golf courses are over-represented across the Upper Midwest — Iowa, South Dakota, Nebraska, and North Dakota — where abundant land and small-town club culture produce high course density per resident.

IowaSouth DakotaNebraskaNorth Dakota

U.S. Census Bureau — 2022 County Business Patterns (establishments by state), NAICS 713910. Concentration shown by location quotient.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Club management & ownership platforms
  • PE-backed golf consolidators
  • Real-estate investors

What’s driving deals

  • Consolidation under management and ownership platforms.
  • Post-pandemic participation surge.
  • Recurring membership-dues economics.

Find Golf Course Management Companies acquisition targets

Search Acquisera’s index for companies classified under Golf Course Management Companies (2.13.3.1) and build a targeted deal pipeline.

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