The following is the second in a three-part series that examines the state of the golf industry today. The first article explored the history and examined the issues challenging the golf industry. This second article explores the impacts to Golf Facility Financials and Value, while the third article will look to the future of the industry and the issues that will shape its health moving forward. Credit must be given to the large number of industry professionals at the Golf Industry Show who were speakers and whose thoughts, ideas and concerns I am liberally using. These insights are a direct result of their expertise and experience, and I would like to thank them for their input.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.