The golf course and the land will be packaged separately for sale but could ultimately be sold together, Alter said. The brokerage firm of Marcus & Millichap will be handling the sale. "It is a valuable asset, the land, the property," David Meiners, a development manager with MTBR, the LLC that owns the golf course and residential land, said.
Full Answer
Bulle Rock was designed by noted course architect Pete Dye and opened 24 years ago in 1998. In 2002, Manekin, LLC, Clark Turner, and H&S Properties Development Corporation purchased the golf course and surrounding land and properties from original owner, Ed Abel. The golf course has consistently won awards.
Open to the public daily, Bulle Rock now offers Golf Membership Packages to fit the budget of any frequent player. This critically acclaimed Pete Dye-designed golf course and amenity-rich clubhouse is perfect for golf groups of any size.
Profitable golf courses are generally selling for six to eight times EBITDA, while courses that aren't profitable tend to sell at 0.8 to 1.4 times revenue.
7,375 yardsThe 18-hole "Bulle Rock" course at the Bulle Rock Golf Course facility in Havre de Grace, Maryland features 7,375 yards of golf from the longest tees for a par of 72. The course rating is 76.4 and it has a slope rating of 147 on Bent grass.
Pete DyeBulle Rock Golf Course, designed by Pete Dye, was rated as one of the best courses in the nation, with awards including "The Best New Upscale Golf Course in America" by Golf Digest in December 1998, shortly after the course opened.
On an encouraging note, Sageworks' data show that even though golf courses have negative margins, they have strengthened steadily since 2008, when the average net profit margin was about -9%.
Ways To Raise Money For Your Golf Course. The most common income streams are green fees, membership fees, pro shop sales, and food and beverage sales. While increasing membership fees or green fees might seem like a good way to increase revenue, it might put off more golfers than the additional income earned.
How to Make Money Playing GolfGet a Job as a Golf Pro. If you generally enjoy the game of golf and think you could handle a career in the industry, becoming a golf pro is a great choice. ... Play in Golf Tournaments. ... Place Friendly Bets with Your Friends. ... Become a Mystery Shopper. ... Get Sponsorships/Become an Influencer.