What Is My Golf Course Worth?

Golf courses are unique assets combining real estate, recreation, and hospitality. Valuations depend heavily on whether it's a private membership club, semi-private, or public daily-fee course — and whether the real estate has alternative use value.

Typical Valuation Ranges

Most golf courses sell for 2.5x to 4x SDE, though real estate value often drives the total deal.

Factors that push toward the higher end: Membership model with initiation fees and dues, strong food and beverage operation, event and banquet revenue, desirable location, well-maintained course and facilities, growing rounds played.

Factors that push toward the lower end: Daily-fee only with no memberships, declining rounds, high maintenance costs, deferred course maintenance, seasonal market, limited food and beverage.

Key Value Drivers

Membership revenue — initiation fees and monthly dues create recurring revenue. Strong retention and waitlists indicate demand.

Rounds played — daily-fee revenue is the primary metric for public courses. Growing rounds demonstrate demand.

Food and beverage — clubhouse dining, events, and banquets can represent 30–40% of total revenue at premium margins.

Real estate value — the land underlying a golf course may have significant development value, especially in growing suburban markets.

How to Increase Your Value

1. Build event revenue. Weddings, corporate outings, and tournaments at premium rates.
2. Improve food and beverage. Upgraded dining attracts non-golfer spend and increases per-round revenue.
3. Maintain course condition. Well-maintained greens, fairways, and facilities attract members and daily-fee players.
4. Grow membership. Marketing, trial memberships, and junior/family programs expand your member base.

Browse the valuation multiples guide for industry data, or schedule a free call for a confidential valuation.