TopGolf, a tech-powered golf driving range game, is looking to employ an unusual strategy in order to deal with the challenging economy. According to its CEO Artie Starrs, the company is looking to undertake an aggressive expansion in the near future, both in the U.S. and overseas.
“We’re really looking everywhere globally,” Starrs told Yahoo Finance in a recent chat.
According to Starrs, TopGolf is planning to close to a dozen venues across the nation in 2022.
“We just opened in Philadelphia. We’ll open outside of Seattle, Washington, in Renton just in a few short weeks. So we view the entire market as an opportunity for us,” he added.
Starrs recognizes that heightened interest in golf during the pandemic had dropped off significantly in recent times. Customers are increasingly cost-vary due to surging inflation and looming recession, so they are cutting back on leisure activities. But despite this, Starrs believes TopGolf is well-positioned to weather through the tough times.
“… I think our team’s done an extraordinary job continuing to modernize the venue and how we build a venue, and then also doing things inside the venue to make sure that we can be open and provide great service to our players,” Starrs explained.
After some shaky beginnings, TopGolf saw rapid growth in recent years and is becoming increasingly popular among golf enthusiasts. This prompted golf equipment maker Callaway Golf Company to buy the business for $2 billion back in late 2020.