Private Country Clubs
Membership-based clubs offering golf, dining, and social amenities.
Market snapshot
These figures describe Golf Courses & Country Clubs (2.13.3), the segment that Private Country Clubs sits within — not Private Country Clubs on its own.
- Market size
- ~$31B
- Growth
- ~6.3%CAGR (2017–22, nominal)
- Companies
- ~10,100
U.S. Census Bureau 2022 CBP/Economic Census, NAICS 713910 (Golf Courses & Country Clubs); growth reflects a post-pandemic golf surge.
Business model & economics
Revenue model
Memberships and dues, green fees, F&B, and events
Key economics
- Recurring revenue
- High at private clubs
- EBITDA margin
- Varies; real-estate-heavy
- Capex intensity
- High
recurring dues
Characteristics
- Post-pandemic golf surge lifted participation and economics.
- Recurring dues at private clubs underpin value.
- Management contracts and ownership platforms consolidating.
Geographic concentration
Golf courses are over-represented across the Upper Midwest — Iowa, South Dakota, Nebraska, and North Dakota — where abundant land and small-town club culture produce high course density per resident.
U.S. Census Bureau — 2022 County Business Patterns (establishments by state), NAICS 713910. Concentration shown by location quotient.
M&A deal context
Who’s acquiring
- Club management & ownership platforms
- PE-backed golf consolidators
- Real-estate investors
What’s driving deals
- Consolidation under management and ownership platforms.
- Post-pandemic participation surge.
- Recurring membership-dues economics.
Find Private Country Clubs acquisition targets
Search Acquisera’s index for companies classified under Private Country Clubs (2.13.3.3) and build a targeted deal pipeline.
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