GBR Tuesday | Inside Trump Golf: Turnberry’s £1,000 Fee to Doral’s $110.4M Year
Every Tuesday and Friday, we connect the dots across golf’s business, media, and professional landscape.
Good morning, GBR community,
It’s good to be back!
After taking a week-long sabbatical, it’s time to get going again with our first look at what’s happening in the golf industry and the wider world of golf.
The continued upward curve of golf’s popularity shows no signs in slowing down. The evidence for this comes in three forms in stories we are covering today.
America’s country clubs are experiencing uprecedented demand as evidenced by the increasing initiation fees being set.
South Carolina is also recording record figures to justify its stake of being the “Golf Capital of the World”.
The demand isn’t just focused on America, Japan is also experiencing what’s been termed the “Third Boom” in golf.
We’re also going to take a look into President Donald Trump’s golf empire.
We’ll explore the size of his golfing estate, what’s already under the Trump Organization and what new developments are on the horizon.
Where we can, we’ll delve into the numbers of how the golf business is doing and how one of Trump’s courses has some of the most expensive green fees in the UK.
Our index for today’s GBR covers:
Industry
Circuits/Professional Game
Equipment
Trump’s golf business, by the numbers
Please feel free to leave any comments on any of the topics we cover today.
See you on Friday.
INDUSTRY
COUNTRY CLUB BOOM: INITIATION FEES SOAR AS DEMAND OUTSTRIPS SUPPLY
Country club memberships in the U.S. have skyrocketed in price and prestige, with initiation fees climbing over 70% from 2019 to 2022 and showing no signs of slowing down.
At California’s Rancho Santa Fe Country Club, the initiation fee doubled from $50,000 in 2021 to $100,000 in 2024, underscoring a national trend where six-figure fees and decade-long waitlists have become the new norm.
The COVID-era surge in golf participation—adding 3.3 million green-grass players since 2020—has fueled demand, but it’s not just about golf anymore. Social and fitness memberships have grown in popularity among non-golfers, especially younger families looking for community, pools, and lifestyle amenities.
“Private golf is a loose extension of people seeking community,” said Greg Nathan, CEO of the National Golf Foundation. Podcast host John Middlekauff adds, “There are a lot of people that have money that don’t play golf,” pointing out that affordable social memberships are crowding the access pipeline.
This spike in interest is colliding with a hard limit on supply. Real estate constraints in top metro areas mean new club development is rare and often pushed far into suburbs or rural zones. “You’re not likely going to have any more golf courses… built in any of the top 100 or top 200 [metros],” Nathan noted, citing land costs and urban density. In South Florida, only one new club, Panther National, has cracked the region’s top 10 in the last two decades.
The result is a migration to the edges: places like Hobe Sound, where new clubs such as the $650,000-initiation Apogee Club are emerging on former farmland. In Phoenix, real estate and memberships are deeply linked—at Silverleaf, homes can command a $1 million premium simply for including a transferable club membership that skips the line. “They’re coming from Chicago or L.A., so it’s worth it for them to pay way more to jump the line,” Middlekauff explained. With limited land, soaring demand, and no slowdown in sight, the country club is becoming less a golf decision and more a high-stakes investment play. More on the rise of Country Club initiation fees can be found in Andrew Goodrich’s story for Front Office Sports.
MYRTLE BEACH GOLF DRIVES $1.6 BILLION ECONOMIC ENGINE IN 2024
A new study confirms Myrtle Beach’s self-declared title as the “Golf Capital of the World,” revealing that the regional golf industry generated $1.6 billion in total economic impact and supported more than 13,000 jobs in 2024.
Commissioned by the National Golf Foundation in collaboration with Golf Tourism Solutions, the Myrtle Beach Area Golf Course Owners Association, and South Carolina’s Department of Parks, Recreation, and Tourism, the study examined 78 courses, 69 facilities, and 10 off-course venues. Among the highlights: $482.9 million was paid in wages and benefits, while $134.8 million flowed to state and local taxes.
“Beyond the direct economic benefits, golf has an immeasurable quality of life impact for residents,” said Tracy Conner, Executive Director of the Myrtle Beach Area Golf Course Owners Association.
The report estimates more than 3 million rounds of golf were played last year, with 1.4 million of them played by 759,000 out-of-town visitors—bringing in over $700 million in tourism spending and supporting more than 7,000 hospitality jobs. “It’s impossible to overstate the positive impact to our region,” added Ryan Cannon of Golf Tourism Solutions, who pointed to the area’s signature blend of accessible, world-class golf and Southern hospitality as long-term drivers of both tourism and relocation. T J Turner’s full article for WMBF News on South Carolina’s golf industry can be found here.
JAPAN’S PRIVATE GOLF CLUB FEES SOAR AMID ‘THIRD BOOM’ IN NATIONAL GOLF INTEREST
Private golf club membership fees in Japan have surged to a 15-year high, reaching an average of ¥2.98 million (approximately USD $20,400) across 150 top-tier courses listed on the Kanto Golf Membership Exchange, as the country enters what analysts are calling its “third golf boom.”
Driven by a post-pandemic revival, golf participation in Japan climbed to 87.9 million visits in 2024—surpassing pre-COVID levels and reversing a decades-long decline since the 1990s economic crash. “The rise in interest is notable across both individuals and corporations, with limited supply pushing prices higher,” noted membership trading firm Sakura Golf.
Japan currently has about 2,200 active golf courses—down from a peak of 2,800—and no major development since 2020. The renewed interest is being fuelled in part by the success of Japanese players on the global stage, including Hideki Matsuyama, Keita Nakajima, and 2025 AIG Women’s Open champion Miyu Yamashita. With six Japanese women ranked in the world’s top 30 and 17 inside the top 100, the country’s golf momentum shows no signs of slowing. Asian Golf Industry Federation.
59CLUB AND ZEN PARTNER TO TRANSFORM GOLF TRAINING
59club has announced a strategic partnership with Zen, creators of the Green Stage coaching platform, to launch a new era of gamified golf engagement.
Zen’s Green Stage technology replicates real-course gradients indoors, enabling golfers to relive iconic shots, compete in skill-based challenges, and simulate on-course scenarios—all within clubs, academies, retail spaces, and even homes.
The collaboration aims to make golf’s “first touch” unforgettable, with engaging, game-like learning experiences, immersive events to attract new audiences, and data-driven coaching environments tailored to players of all levels.
“Golf’s growth depends on making the first experience unforgettable,” said Zen founder Nicholas Middleton, while 59club CEO Simon Wordsworth added, “We can help clubs offer something truly unique—an experience that entertains, educates, and inspires.”
The partnership made its debut at 59club’s Global Service Excellence Awards at The Belfry, which finishes today, August 26th, attended by over 250 industry leaders from 22 countries. More details on the partnership between 59club and Zen Golf can be found here.
CIRCUITS/PROFESSIONAL GAME
PGA TOUR EXTENDS TRACKMAN PARTNERSHIP THROUGH 2030
The PGA Tour has renewed its long-standing partnership with Trackman through 2030, ensuring the continued use of its tracking technology both in broadcast coverage and on driving ranges at all Signature Events.
The collaboration, which began in 2006, plays a pivotal role in the Tour’s modernized ShotLink powered by CDW system, which integrates 150 4K cameras and 36 cutting-edge Trackman radar units to deliver real-time shot data from tee to green.
“Trackman technology has assisted PGA Tour players in fine-tuning their skills while helping elevate the experience for viewers at home,” said Ken Lovell, PGA Tour SVP of Golf Technologies.
Trackman’s co-founder and CEO, Klaus Eldrup-Jørgensen, echoed the sentiment, noting, “Our partnership has delivered game-changing performance insights and unparalleled fan experiences—we look forward to extending this innovation through 2030.” More details on the renewed partnership can be viewed here.
PGA TOUR LAUNCHES FUTURE COMPETITION COMMITTEE LED BY TIGER WOODS
The PGA Tour has unveiled the Future Competition Committee, a nine-member task force chaired by Tiger Woods, aimed at redefining the TOUR’s competitive model with an emphasis on “significant change,” not mere tweaks.
Announced by CEO Brian Rolapp at East Lake Golf Club ahead of the Tour Championship, the committee will operate under a "clean sheet" mandate, guided by three core principles: parity, scarcity, and simplicity.
“The sports business is not that complicated,” Rolapp stated. “You get the product right. You get the right partners. Your fans will reward you.”
The committee blends six PGA Tour players—including Woods, Patrick Cantlay, Adam Scott, Camilo Villegas, Maverick McNealy, and Keith Mitchell—with three strategic business minds: Joe Gorder (Valero), John Henry, and Theo Epstein (Fenway Sports Group).
Together, they will assess how to enhance meritocracy, boost fan engagement by increasing top-player showdowns, and better align the regular season and playoffs. Fans, players, and partners are being actively consulted, as the committee seeks to modernize the Tour while respecting its traditions. Further reading of the PGA Tour’s new Future Competition Committee can be found here.
LIV GOLF PARTNERS WITH FEVER TO POWER GLOBAL TICKETING AND FAN ENGAGEMENT
LIV Golf has announced a multi-year partnership with Fever, making it the official global ticketing and demand-generation partner for the league and an official sponsor of Fireballs GC—captained by Sergio Garcia.
Fever will handle ticketing operations across LIV Golf’s 14-event international calendar starting in 2026, with events in cities including Riyadh, Adelaide, Singapore, and London.
The deal also places the Fever logo on Fireballs GC team kits and integrates Fever’s tech-driven ticketing solutions to enhance fan experience, yield optimization, and global accessibility.
“Our fans are incredibly important to our team,” said Garcia. “Through Fever we can create new ways for them to engage with Fireballs GC and the energy of LIV Golf events.” LIV Golf President Chris Heck added, “Partnering with Fever gives us a powerful platform to connect with audiences around the world and makes our events even more accessible and entertaining.”
Fever currently operates in over 40 countries and reaches more than 200 million people per month. More details on the sponsorship can be found on the Fireballs homepage here.
T-MOBILE BREAKFAST AT BETHPAGE FOR THE RYDER CUP
This year’s Ryder Cup will debut T-Mobile Breakfast at Bethpage, a high-energy morning show set to transform the fan experience from the first tee, September 26–28.
Hosted live by Saturday Night Live star Colin Jost, the broadcast will fuse golf culture with comedy and celebrity guests, streamed in real time via T-Mobile’s 5G network.
Produced in collaboration with Peyton Manning’s Omaha Productions and Pro Shop Studios (behind Full Swing and Happy Gilmore 2), the show marks Omaha’s first fully 5G-connected live production.
Fans can catch the show live on RyderCup.com, the Ryder Cup app, YouTube, Peacock, and across social platforms. More details of the T-Mobile Breakfast at Bethpage can be found here.
EQUIPMENT
COBRA CELEBRATES 50 YEARS OF BAFFLER WITH ITS MOST VERSATILE IRONS YET
Cobra Golf has unveiled the latest evolution of its iconic Baffler line, marking the 50th anniversary of the original 1975 launch with what it calls its “most innovative combo set to date.”
The all-new Baffler set blends five distinct club constructions—traditional hybrids, hybrid-irons, hollow irons, cavity-back irons, and cavity-back wedges—designed to offer maximum forgiveness, distance control, and ease of launch from all lies.
A progressive rail system further optimizes turf interaction: steeper rails in the hybrids and long irons gradually shift to shallow rails in the short irons and disappear entirely in the wedges.
Designed for mid- to high-handicap seniors, women, and newer golfers, the men’s set includes a 4H through pitching wedge, while the women’s set spans from 5H to sand wedge, with custom gap wedges available.
The new Baffler irons are available now for pre-sale and at retail locations and fitters beginning September 5. RRP $899 (£669, €775), more details can be found at Cobra Golf.
Trump’s Golf Business, By The Numbers
This article maps the business of Trump-branded golf using only what can be verified: audited accounts in Scotland and Ireland, the latest U.S. financial disclosure, published green-fee rates, and confirmed development announcements.
We show how the European resorts are trading, how the U.S. club network drives the bulk of income, what a round costs at flagship venues, and how the pipeline—led by a new second course in Aberdeen and planned projects in the Gulf and Asia—shapes growth. No politics, no guesswork—just documents, prices, and what they add up to.
What Trump owns (and how the money shows up)
Trump’s golf footprint is a mix of directly owned resorts (for example, Trump National Doral in Florida; Trump Turnberry in Scotland; Trump International in Doonbeg, Ireland; and Trump International Golf Links, Scotland near Aberdeen) plus licensed and managed courses (e.g., Dubai) and new licensing ventures now planned in the Gulf. Because many U.S. entities are private, granular profit data is sparse. Abroad, however, audited accounts in the U.K. and Ireland, and in the U.S., the President’s 2025 financial disclosure, give us the clearest picture.
Scotland: Turnberry Is Big Revenue; Aberdeen Is Smaller, But Both Carry Intercompany Debt
Turnberry (Ayrshire)
SLC Turnberry Ltd reported £21.14 million in turnover for 2023 and a pre-tax loss of £1.69 million, after £2.78 million of depreciation. The strategic report notes “golf revenues” grew 35% over 2022, with total revenues topping £21 million for a second year running. The balance sheet shows £65.9 million in creditors due after more than one year. Companies House
Aberdeen (Balmedie)
Trump International Golf Club Scotland Ltd posted £3.75 million in turnover for 2023 and a £1.43 million loss. Long-term creditors rose to £52.53 million. Notes show the company owes £31.62 million to the Donald J. Trump Revocable Trust and £12.58 million to DJT Holdings LLC, among other related-party balances. Companies House
What that means: Scotland’s audited filings show solid top-line at Turnberry and modest scale at Aberdeen, while both depend heavily on related-party financing—typical of capital-intensive resorts that have undergone major redevelopment.
Ireland: Doonbeg’s best year on record
At Trump International Golf Links & Hotel, Doonbeg, 2023 was a record year. New filings show revenue up 12% to €16.12 million and operating profit doubling to €2.06 million, with management attributing the performance to strong membership, green fees, and accommodation. Irish Examiner
United States: Doral dominates disclosed income
The 2025 U.S. federal financial disclosure (covering calendar-year 2024) shows more than $600 million in total income across Trump’s businesses. Within that, reporters who analyzed the filing highlighted $110.4 million of revenue from Trump National Doral and $378 million from U.S. golf and hospitality assets overall. These disclosures are revenue figures, not profit. Reuters
The new piece in Scotland: the MacLeod course
In July 2025, Trump opened the MacLeod Course, a second 18-hole layout at Trump International Golf Links, Scotland, expanding the property to 36 holes and underscoring the emphasis on destination golf. Coverage of the opening noted the course launch capped a Scotland trip centered on the family’s luxury properties.
Subscribe to uncover the rest of this article, where we look at:
Current green-fee levels at flagship Trump courses (with sources), then shows how tee-sheet yield and occupancy feed the resort P&L
MacLeod effect: added peak-season rounds capacity at Aberdeen
Pipeline tracker: one-liner per project (partner, model—owned vs licensed, earliest opening guidance)
