Vol. XXIII, No. 11, October 2023

Some statistics about Topgolf

Topgolf's high-tech golf range experience started in the United Kingdom in 2000, expanded to the United States in 2005, and was acquired by leading golf club manufacturer Callaway in 2021 for $2.6 billion. To reflect its importance to Callaway's future, the company renamed itself Topgolf Callaway this past year. The Topgolf business makes up about 40% of the company's overall revenue.

For years, the narrative around golf was that it was in decline due to the aging demographics of its players and its often-prohibitive cost, both monetarily and that not everyone has the luxury of spending five hours playing a single round. Topgolf's formula of beer, quality food including shareables, and superior driving range technology-all wrapped up in a fun, welcoming environment-has helped change that.

Nearly half of TopGolf's attendance (48%) comes from 18-to-34-year-olds.

More than half of Topgolf's attendance comes from non-golfers (51%).

Attendance from households with $80,000+ incomes accounts for 60% of all visits.

With its current 86 driving range type venues, Topgolf is an excellent example of social gaming eatertainment.

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Vol. XXIII, No. 11, October 2023

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Vol. XXIII, No. 11, October 2023

Some statistics about Topgolf

Vol. XXIII, No. 11, October 2023

LOCATION-BASED LEISURE & ENTERTAINMENT