The challenge is driving revenue in non-peak times on a cost effective basis. Many developers and new entrants into the golf industry base financial expectations on the Saturday morning experience. Historically, golf courses are generally not worth what they cost to build. And the current accelerated pace of construction will likely slow as operating incomes fail to achieve projections. Most mistakes are made in projecting revenue levels.
People come pretty close on the amount of rounds.
It's usually the cost of rounds that is out of touch with reality. They're better at that. Just in terms of construction, people spend too much money moving too much dirt and building too-big clubhouses that are often dysfunctional. The mistake there is that they should either build a small one, a ticket booth for the course, or build a large one that can host tournaments, weddings, with functionality for food service, cart storage, offices and pro shop. But people get caught in between.