Deals Have Been Done on the Golf Course; And Not Surprising
- 82% Admit to Cheating on the Golf Course
WHITE PLAINS, N.Y.-- June 26, 2002 -- If you’re climbing the corporate
ladder, you may want to trade in your Blackberry for a Big Bertha. A new
study by Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT - News)
to support its new Starwood Golf Vacations program finds that virtually
all executives believe that golf is an essential business tool and most
say that behavior on the
Ninety-seven percent of executives surveyed in “From The Boardroom to the Back Nine: The Importance of Golf in Business” (Conducted by Guideline Research & Consulting Inc., “From the Boardroom to the Back Nine” surveyed 401 business executives and CEOs with an average household income of $187,000.) say that golfing with a business associate is a good way to establish a close relationship; 92% say that it’s a good way to make new business contacts; and more than a third of the executives (43%) say some of their biggest deals have been done on the golf course. But wheeling and dealing on the fairway isn’t always virtuous -- 20% of executives say they would let a client beat them if they thought it would get them more business; 87% gamble while golfing and a walloping 82% of executives admit to cheating on the golf course.
Titans Tee Off for Business
97% of executives say that golfing with a business associate is a good way to establish a close relationship.
92% say that golfing is a good way to make new business contacts.
More than 50% of executives say that golf is the most valuable activity to get to know business associates and clients well, beating out a business lunch or dinner, an overnight business trip, a night out drinking and a resort meeting.
45% believe that playing golf makes clients more likely to give you business.
59% say the way a person plays golf is very similar to the way he or she conducts their business affairs.
How is the way in which a person plays golf similar to the way they
conduct business? 75% say that golf demonstrates one’s level of competitiveness
and motivation. 73% said golf gives you time to get to know the person’s
true character. 67% said a person who cheats at golf would probably cheat
in business and 57% said a hot head on the golf course is typically someone
who is also bad
43% of execs say that some of their biggest business deals have been done on the golf course.
So when is the best time to bring up business while golfing? More than 50% say the 19th hole is the right time to talk business. 22% said the back nine was the best time to bring up business.
Don’t skip the 19th hole when golfing with business associates. 81.3% of executives said that the 19th hole was very or somewhat important when doing business on the golf course.
And, while business begins on the golf course, most deals are closed a few days after a round of golf (81%).
Sex, Lies and Golf?
Nearly 20% of executives say they would let a client beat them at golf if they thought it would get business. Surprisingly, CEOs/Presidents were more likely than any other execs to throw a game for business.
10% of executives have called in sick to play golf. Surprisingly, almost twice as many women (19%) than men (10%) admitted feigning illness to hit the links.
87% of executives bet money during a round of golf. Older golfers (55+) and those in the highest income bracket were especially prone to wagering on golf.
When asked the largest amount they have ever bet, the average high bet was $589 but those with handicaps of 10 or less averaged $1,344 and those with incomes over $250,000 averaged big bets of $1,947 while CEOs/Presidents averaged out at $1,010.
47% of executives say they often find themselves daydreaming about golf while at work.
11% even say that golf is more important to them than sex. Older executives and those with the highest incomes were more likely than others to choose golf over sex.
Cheats in Cleats
82% of executives admit to cheating on the golf course (interestingly, in a similar study done in 1993, only 55% of execs admitted to cheating during golf). The top golfing sins execs ‘fessed up to are: 1) improving your lie a little; 2) allowing partners to cheat on their score; 3) not counting a missed tap-in; 4) taking a mulligan without asking and 5) secretly moving the ball to get a better lie.
86% of golfing execs admitted to cheating in business.
87% of executives said they have played with someone who cheated on their golf score.
And, while most execs admit to cheating in golf themselves, it doesn’t mean they like it when other people do it. 82% say they hate people who cheat when they play golf.
A Gentleman’s Game?
85% said they have been embarrassed by someone’s bad behavior on the course. The worst behavior executives have witnessed on the golf course are 1) vulgar and abusive language; 2) throwing or breaking clubs; 3) throwing clubs into a lake or pond; and, 4) excessive drinking.
16% of men said they hate playing golf with women—this is particularly true for men with the lowest handicaps (under 10).
11% of executives would rather get a hole-in-one than see their child get a game-winning home run.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 740 properties in more than 80 countries and 110,000 employees at its owned and managed properties.
In order for a respondent to qualify for the study, they had to hold a senior position (e.g. Vice President or higher) in their organization, or have a household income over $100,000 annually in a senior sales, supervisory, or managerial position. Each respondent had to have played six or more rounds of eighteen holes of golf per year. A total of 401 total interviews were completed. The survey took over 22 minutes to administer and complete, and has a margin of error on the totals of plus or minus four to six percentage points. The margin of error for subgroups is higher. Interviewing was conducted from April 1 to April 26th, 2002.
|Starwood Hotels & Resorts
K.C. Kavanagh, 914/640-8339
|Also See||Citing a Lack of Potential Buyers, Starwood Vacation Ownership Closes its SalesDepartment at Sheraton's Vistana Resort at the World Golf Village / August 2001|