Apparently more than a dozen course were put on credit watch by July of this year...probably more now:
...a conversation I had while playing with Paul McLean, the head of Maxium Financial, which does financing for golf course equipment. McLean said — and this was in July — that he had more than a dozen courses on credit watch. Wonder how big that number is now that we’ve had the wettest summer in 30 years?Also, development of new courses in Ontario has really slowed:
Otter Creek near Woodstock has been well regarded, but little else has opened in the province this summer (Turtle Creek is the only other one I can think of). I spoke with Doug Carrick yesterday and he said he had nothing in construction in Ontario, though a couple were in planning. Meanwhile Thomas McBroom’s site lists nothing new or in construction in Ontario — just a couple of courses in Western Canada and one in Halifax.The rest of the story can be found here: Ontario golf clubs in trouble.
We'll watch with interest but Ontario has had way many courses open the past few years that it is almost high time for a bit of a rest, especially considering the number of golfers in the province hasn't really changed.
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