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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (2750)	3/26/1998 12:18:00 PM
From: Sam	Respond to of 9980

Sounds a little like their bowling craze back in the late 70s. Everyone built the latest and greatest bowling alleys, made a lot of money for a couple of years, then went belly up when the fad faded. I know a small bowling company that bought a lot of brand new equipment from Japan back then incredibly cheaply, and made a ton of money on it for years.

To: Worswick who wrote (2750)	3/26/1998 12:42:00 PM
From: Michael Sphar	Read Replies (1) \| Respond to of 9980

The all important, yet unanswered question: But did they lower any of the green fees ?

To: Worswick who wrote (2750)	3/26/1998 12:58:00 PM
From: Michael Sphar	Respond to of 9980

A few years ago, I was visiting Guam, an island 3 jet hours south of Tokyo, and a major destination vacation for 1+ million Japanese tourists yearly. There in the center of the island, lays a large real estate/golf course development. One of many on the island. Guam is US territory, and follows closely US legal traditions. When I approached the management of the facility, in an attempt to discuss the particulars of what was obviously presented for purchase to the "public", I was totally rebuffed. Since the maps, pricing and particulars were only presented in what I assumed to be Japanese characters (katakana ?). I gathered the distinct impression that I was genetically not the right stock to be inquiring as to membership or access to any of this apparently troubled real estate enterprise. Troubled indeed. Green fees at other courses around the island run about $100 - $150US.

To: Worswick who wrote (2750)	3/26/1998 7:28:00 PM
From: Stitch	Read Replies (1) \| Respond to of 9980

Worswick, Re: Golf Clubs in Japan This one has me rolling. I have watched the golf memberships in Japan spiral up over the years. It just became to ridiculous for words. I have a couple of friends in Japan who love the game. They had their corporate memberships which they purchased reasonably early in this "tulip fiasco" and it still cost their company $700,000 U.S. But with some sympathy, I will note that it became an almost "have to do it thing". As you know Japanese business practice puts high value on entertainment. Golf, it seems, had become the number one way to show a client a good time, replacing sex in a world growing more acutely aware of the danger of HIV and the rejection of such practices by increasingly militant Japanese housewives. The PGA has been pushing Asian clubs to open their fairways to more public play. (They need more converts to sell the Tour and all the trappings that go with it). There are few public golf courses in Asia and these have been heavily negotiated deals taken quite seriously by both sides actually. You can imagine the problems that clubs have with the membership who are torn between defraying costs that fall to them and losing the prestige associated with their private memberships. Now I suspect the PGA could get the clubs to cooperate. But I suspect there are fewer candidates to play among the general public. Most Asian businessmen I talk to are putting aside extra curricular expenses at this time. On a personal note I recently used the decline in prices to buy a membership. Its given me unlimited access to a first class work out room, tennis courts, squashcourts, childrens arcade, low cost/good food restaurant, spa, billiard room, and a great 18 hole course for $7,000 dollars (US) and a fee of about $25 bucks a month. If I go during the week I own the fairway. A caddy for a full round is about $8.00 US. Maybe a "hands only" massage parlour with a putting green is the next best bet in Japan? best, Stitch