Many golf course owners across the tri-state area are looking for an exit strategy as the once seemingly untouchable industry is seeing more red than green, writes Natalie Kostelni for the Philadelphia Business Journal.

The Worcester Golf Club in Collegeville was put up for auction in early February, and is now under agreement for $925,000. This is nearly a quarter of the $1.2 million that it sold for 20 years ago.

Some courses have been sold to developers for housing or other projects. Meanwhile, some, including Malvern’s White Manor Country Club and Glenside’s North Hills Country Club, have been acquired by country club specialists so they can continue. For how long, though, is unknown.

According to Laurence A. Hirsh, president of Conshohocken’s Golf Property Analysts, many other member-owned clubs are in a similar situation.

“You have age-old excuses that golf costs too much, takes too long, and is too difficult,” he said. “I don’t know if that is true, but it’s done a poor job embracing millennials, minorities, and women.”

Read more about golf’s downturn in the Philadelphia Business Journal by clicking here.