Golf's Second Golden Age
pisofa@pisofa
+1.7%
since Sep 30
The idea
I believe golf's post-2020 boom is a generational shift, not a blip, as younger players entering through simulators and Topgolf trade up to premium gear, travel, and courses over the next couple decades. To play the whole culture at once, this basket spans equipment and retail, golf-inspired fashion, games and betting platforms, course builders and maintenance companies, and travel and hospitality operators tied to the buddies-trip boom.
What it owns
- Destination golf trips are growing, and these operators and landlords capture the resort spending from traveling golfers. · Ryman Hospitality PropertiesIt owns large resort hotels with golf courses, the destination properties where golfer groups book long weekends., VICI PropertiesIt collects rent from golf courses and resorts as a landlord, earning steadily from destination golf growth without depending on individual properties., Marriott InternationalIts large resort footprint in golf destinations captures bookings from traveling golfers seeking premium accommodations., Hyatt HotelsIts upscale resorts capture the premium end of golf travel from players booking destination trips., Travel + Leisure CoIt runs vacation clubs and timeshares in golf destinations, converting one-time trips into repeat annual visits.27%
- New players, casual or serious, buy equipment as they enter the sport, and these companies supply them. · Acushnet HoldingsIt owns Titleist and FootJoy, the premium equipment serious golfers buy when upgrading their game., Dick's Sporting GoodsIts Golf Galaxy stores serve casual players buying their first real equipment set, capturing the mass market entry point., Amer SportsIt owns Wilson, an affordable gear brand for new players entering the sport at the entry-level price point.20%
- More rounds and more courses require mowers, irrigation systems, and turf supplies regardless of which brands golfers prefer. · Toro CompanyIt makes the mowers and turf equipment that courses depend on, selling essential gear for maintenance and renovation., SiteOne Landscape SupplyIt supplies fertilizer, irrigation parts, and materials courses need for upkeep, with demand rising as play increases., Deere & CompanyIts turf and golf division provides heavy machinery for course construction and maintenance as the sport expands.16%
- Video games, betting platforms, and indoor simulators introduce golf to people who have never played on a course. · DraftKingsIt engages casual golf fans through betting on tournaments, connecting viewers to the sport between rounds., Take-Two InteractiveIt makes PGA Tour video games that introduce younger people to golf before they step onto a course., Life Time GroupIt adds golf simulators to its fitness clubs, making the game accessible year-round to members already working out.14%
- Golf apparel has become everyday clothing, and these brands sell the look both on and off the course. · Ralph LaurenIts RLX line captures the premium end of golf fashion crossing into everyday style off the course., NikeIt is the largest apparel brand in golf and the choice of younger players wearing golf clothes on and off the course., Lululemon AthleticaIt is expanding into golfwear for the younger, casual crowd drawn in through simulators and entertainment venues.14%
- Cash8%