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PKF Consulting Launches Golf & Resort Group; 
Tim Wyman Named Director to Head New Division
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DALLAS, Tex., January 3, 2006 — Officials of PKF Consulting, a consulting and real estate firm specializing in the hospitality industry, today announced that it has launched a new Golf & Resort Group to provide consulting and planning services to these two unique hospitality segments.  The company also announced that it has named Tim Wyman as director of the new division. 

“As has been well publicized, the golf industry has experienced dramatic shifts for the past 10 to 15 years,” said Dave Arnold, chief executive officer - East.  “With the golf course construction boom of the 1990s, overdevelopment has become a real issue.  While the golf economy is on the mend, there still are numerous challenges ahead.  Under Tim’s capable leadership, our new division is well equipped to work with owners and developers trying to navigate their way through these often confusing waters.”

Prior to joining PKF, Wyman was senior consultant in the Golf and Real Estate Practice of PricewaterhouseCoopers.  He began his career in the golf industry as a research analyst for Club Corporation of America (ClubCorp) after graduating from Texas A&M University with degrees in marketing and journalism.  After receiving his MBA from the University of Dallas’ Graduate School of Business, Wyman joined the Golf Industry Practice of KPMG in Dallas, Tex.

“A recent study by the National Golf Foundation (NGF) shows that both golf rounds and new golf course openings remain down since an all-time high in 2001,” said Wyman.  “However, the golf economy appears to be in the early stages of recovery, creating significant opportunities for savvy investors.  The outlook for 2006 and beyond appears to be favorable, particularly in the stronger markets.

“Capital markets have returned to the industry, resulting in a growing number of golf course acquisitions, both portfolios and single assets,” he noted.  “Investors are being more thorough with feasibility and return estimates and making more strategically oriented decisions.  
Superior data and analysis are driving more transactions and attracting more lenders, who largely have been on the sidelines for the past four years.  Our goal for the Golf & Resort Group is to provide our clients with the insights to make the most informed decisions and provide the services to create the potential for optimizing returns.”

Wyman brings to the PKF Golf & Resort Group in-depth expertise in general and special-purpose real estate consultation and valuation, site selection analyses, market trends and feasibility studies, sales and marketing analysis and consulting, market demand and absorption studies, investment evaluations, due diligence investigations, lease analyses and negotiations, portfolio valuations, asset management, course development management and golf course brokerage.  

PKF Consulting is a consulting and real estate firm specializing in the hospitality industry.  PKF Consulting has offices in New York, Philadelphia, Washington DC, Atlanta, Indianapolis, Austin, Houston, Dallas, Los Angeles, and San Francisco.

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Contact:

Tim Wyman
PKF Golf & Resort Group
Ph:  972-364-0520
Tim.wyman@pkfc.com


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