For a number of years, as the economy has enjoyed solid growth, international golf travel has also increased in terms of travelers and dollars spent. As that demand increased at various destinations around the world, more often than not so would prices. The basic law of supply & demand.
Historically we have seen "golf inflation" increase in some areas at a far greater rate than inflation calculated with more of the staples of life. Golf inflation being defined as the increase of green fee rates.
Therefore, as we hit this speedbump in the world economy and the impact of this slowly works through various sectors, it is heartening to see suppliers take the lead in holding prices for the 2009 season, even as their costs increase. The latest, and highest profile announcement is that of the St. Andrews Links Trust who manage the Old Course, St. Andrews are leaving their green fees unchanged for the 2009 season. This is welcome news and while the actions of one supplier will not change the underlying challenges in our business, we hope that others join in and make a similar statement. We have previously been advised by a number of hotels they are maintaining 2008 prices for travel in 2009...great news as these companies understand, as the Links Trust does, the need for a concerted effort to reinvigorate golf travel to the British Isles.
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