Originally Posted by grodney
Oh, no question it's possible -- I was just making my guess. If it were me buying the place, it would be strictly a business decision. Does the money generated by the courses (greens fees, cart fees, disc sales, and probably most importantly -- lodging bookings) outweigh the cost of maintenance (mowing, carts, pro shop, etc.). And not just outweigh, but outweigh by enough to make it worth it.
However, I think there's a good chance the new owners won't even bother to consider it. There's also the consideration that the disc golf traffic (and clientele) is driving away other lodging business, which would certainly fall on the negative side in a big way.
Of course there's always the chance it swings the other way and an enthusiast buys it, or simply someone willing to overlook the reality of the finances (if they're not net positive).
It's obviously not black-and-white. You have bookings for 4 days for people like me, who are there STRICTLY for the golf. But for all the non-golf-only bookings, is the existence of DG a value-add or a value-subtract? Tough call.
Didn't the Ozark property get sold recently, and also keep their courses?
Pretty much how I see it.
Also to add to the equation is that they are selling 1,000+ acres. The Inn, Coral House, Disc Golf Courses, etc only use a fraction of that. So the buyer is really buying two different things (Improved Land & Lots of unimproved ranch land).
I was just there last weekend and was surprised by how few people I saw on the course. It is a great destination place (the best or close to in the entire nation), but might be just a little to far from a major market to get the needed daily players to make full business sense.
We have reservations to go back in late October. Hope we get the chance to go.