Par for the Course: Eatertainment
At the end of 2016, Newcastle Investment Corp
de-REITed and changed its name to Drive Shack, reflecting its new focus not just on golf but specifically the “Eatertainment” variety.
The core concept is to offer vibrant venues that would attract a younger clientele, especially groups of friends or family, or nights out for work colleagues. The sites had to be within easy travel distance of dense urban populations, and so were constructed as multi-story buildings with technological enhancements to allow a golf experience within a much smaller lateral footprint than required for a traditional golf course.
Management’s insight was that the best way to be selected as the venue by a group, is to
not be hated by anyone, and this happy status can be achieved by having a wide variety of offerings.
Drive Shack therefore rapidly expanded its spectrum of activities and meals, and ensured that even non participants in the activities could have an enjoyable time.
The company’s prime venues for this are spacious three-story driving ranges that are partly indoors and partly outdoors, with many dozens of sectioned-off areas that social groups can rent, offering both golfing and non-golfing games, and a full service restaurant and bar.
A major element of the new style was incorporation of the superior “Trackman” technology that uses two radars, instead of one, to properly locate and track the ball and club in three-dimensional space. The software provides both coaching in stroke skills, and the ability to play in virtual fashion, dozens of famous international golf courses.,,,,,< --- essentially the same exact idea as in the 1980's place I went to!
These guys own many golf courses as well.. the Times says golf is way up due to the pandemic....