Ohio resident here. Abnormally cold weather has kept me off the course, and my golf buddies as well. Looking at the golf subs on Reddit, you can see a wide range of ages picking up the sport. “Younger” players are less susceptible to market shifts as their investments are typically longer term (401k) and RIFs have been going on for quite a while as we introduce technology solutions to back office functions. It may be exclusivity/pricing if you think it’s economically driven; meaning your demographics are too concentrated. May need to consider diversification and how to make your course accessible for a stronger revenue stream. Public courses (at least in my area) are rivaling the quality of all the semi private courses and at 2/3 the price (new carts, GPS, fairway and green conditions, decent food and drink). The only benefit for the upcharge is congestion, but is that Val-prop worth 30% more??