To truly understand the health of your business, you need to compare your performance to the broader market. That’s why revenue benchmarking is so important for your business.
Golfers improve by posting their scores and comparing them to other players – the same principle applies to your golf course performance.
In this article, you’ll learn about the key performance indicators related to your green fee revenue, why they’re important, and how to calculate them. Finally, you’ll see the average of the KPIs for North America by DMA, as well as the national average, allowing you to compare yourself more accurately.
Presenting your key performance indicators (KPIs)
There are four key performance indicators (KPIs) related to green fee qatar cell phone number revenue: occupancy rate, average departure rate, revenue per available departure and channel diversity . Tracking your KPIs each month gives you insight into how your business is performing.
Occupancy percentage
This KPI measures the level of attendance at your golf course over the past month.
How to calculate: Divide all tee times played by all available tee times (All tee times recorded on the tee sheet, whether 9 holes, 18 holes, etc.) To count your available tee times start 25 minutes after sunrise until 4.5 hours before sunset. This number will change seasonally.
Why it matters: Occupancy is a major factor in calculating your revenue growth. A variety of factors can change your occupancy percentage. Some factors are out of your control, like weather, competition, and the economy. Other factors are a direct result of an action you took, like changing a rate or terms.
Average rate per departure
This KPI highlights the average price of your departures for each game played.
How to calculate it: Divide all green fee revenue by the number of tee times played. (Green fee revenue includes green fees, cart fees, prepaid green fees, annual passes, membership, access or loyalty card fees.)
Why it matters: Average round rate is very useful for identifying how much golfers pay, especially on certain days of the week, at certain times of the day, and by golfer category.
Income per available departure
This is the most important KPI – it measures your revenue growth by demonstrating whether you are properly utilizing your available tee time. Unlike the average tee time, this KPI takes into account ALL of your available tee times – not just the ones that are sold.
How to calculate it: Multiply your occupancy percentage by your average departure rate.
Why it matters: You measure revenue growth by the change in available starting revenue. The goal is for this KPI to increase. To increase this metric, you either need to get more golfers playing or increase your rates.
Percentage of diversity of booking channels
This KPI tells you how many rounds were booked directly with your booking channels versus partner sites like GolfNow and TeeOff.