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Chambers Bay Golf Course finances: the details

Post by David Wickert on March 8, 2010 at 9:14 am with 6 Comments »
March 8, 2010 9:16 am

As I reported yesterday, Pierce County’s Chambers Bay Golf Course lost $1.3 million in 2009. The golf course’s fourth quarter financial report spells out the details.

The report shows golfers played 31,834 rounds in 2009 – 17 percent fewer than the previous year. Food and beverage sales declined 15 percent. Merchandise sales were down 22 percent.

The $1.3 million deficit came on $5.5 million in revenue (when you count $812,864 from an internal county loan, the course’s total 2009 revenue was about $6.4 million).

County officials say Chambers Bay will make enough from the 2015 U.S. Open to repay about $3.1 million in recent golf course debts.

You can download a PDF copy of Chambers Bay’s fourth quarter 2009 financial report here.

Leave a comment Comments → 6
  1. shaun9778 says:

    If they want more people to play more often, then lower the greens fees. I’ve played there once. If I could get on for less than 50 dollars, I would have played there at least 10 times last season.

  2. guidocarmasi says:

    31000 rounds of golf is a signifigant number of rounds. Especially in this Northwest Climate.
    I applaud the amount of play Great job.!!!

    I think the restaurant could run a better job. Service is very slow and discourages business. Take a hint from Meadow Park. Great service, food and price.

    Plan on some entertainment and activites around the park and trail areas.
    Chambers Bay is a great asset for Pierce County and is an asset not a liability.

    Food stamps, crime, gangs and prisons are liabilities and not assets in Pierce County and get all the press.(and money)

  3. northwestrealtor says:

    What Pierce County wants you to believe:

    County officials say “Chambers Bay will make enough from the 2015 U.S. Open to repay about $3.1 million in recent golf course debts.”

    These people can’t even predict whats going to happen next week let alone
    2015. The USGA may decide that they don’t want to play on a scrappy, scraggly
    old gravel pit converted into a golf course between now and then.

  4. northwestrealtor, a couple of points to consider:

    1. The contract calls for the USGA to make annual payments to the county up to the 2015 U.S. Open. So, indeed, we can predict a significant amount of revenue that will help cover the debt.

    2. Perhaps you missed a sidebar the TNT published with the main story yesterday in which the USGA – again – talked about how excited they are about coming to Chambers Bay. http://www.thenewstribune.com/2010/03/07/1099555/us-open-is-in-the-bag.html

    Hunter George
    Pierce County Communications

  5. JLadenburg says:

    Dave, while you did include near the end of the article the fact that Chambers Bay has generated almost $2 million in taxes that are not on the “books” that you see as a debt, you failed to ask how many rooms, rental cars, meals, and the like were purchased by the visitors. Why not ask the golfers from Vancouver BC in the picture how much they spent total?. Why not ask the local hotels who have stay and play packages how they did? Why not ask the caddies how many players are from out of town? Ask University Place how much sales tax and admissions tax they have collected? Chambers Bay is about tourism and economic development. It is spinning off money into all the things I list above just as it was supposed to do and it’s doing it in the worst recession in history. You can’t present the true value while ignoring all those side benefits it was designed to bring.

  6. JLadenburg says:

    Shaun, the cost to play Chambers Bay today is $59, this for a course ranked in the top ten in the nation.

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