The Crossings at Carlsbad, the City’s $63 million dollar (or so) golf course may “fall short” of it’s projected revenue for the first year according to a Richard Riehl column in the North County Times.
Carlsbad’s Director of Finance Lisa Irvine, told me the course had expected green fees to generate $1.6 million in revenue in the first five months of this year. It fell $300,000 short of that projection. . . . The Canyons Restaurant did much better, bringing in $829,000, 33 percent higher than the $624,000 projected return. But the loss in golf course revenue alone resulted in city plans to subsidize The Crossings at Carlsbad to the tune of $400,000 in 2008 and an additional $900,000 in 2009.
We can totally understand. We’ve eaten breakfast at Canyons Restaurant numerous times and have yet to play a round of golf. Maybe it should be marketed as a $63 million dollar restaurant, with a really nice yard. . .
[Link: North County Times]
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