That led Meyer to take a lesson with a golf pro on an indoor simulator, an experience that eventually led him and his investment firm, Enlighted Hospitality Investments, to make a $20 million minority investment in Five Iron Golf, an indoor golf and entertainment company.
Five Iron Golf, founded in 2017, has grown as it has looked to appeal to several types of golfers, according to CEO Jared Solomon.
"The core of Five Iron Golf is to be the best place for the serious golfer as well as the entertainment-type person," Solomon said.
But the amount of people who are only playing golf on courses is decreasing, down 9% from the previous year.
In fact, there are more players now playing at golf entertainment venues like Topgolf , standalone driving ranges, and businesses like Five Iron Golf with simulator and screen golf setups than there are players playing on a course, according to the NGF data.
Persons:
Danny Meyer, hasn't, Meyer, we've, Jared Solomon, Solomon
Organizations:
Shake, Enlighted Hospitality Investments, National Golf Foundation
Locations:
U.S