PUSA | Market Cap: $78.6M (07/13/26)
Industry:
Consumer Services

DESCRIPTION

Aureus Greenway owns and operates two public 18-hole golf courses in Kissimmee, Florida, just south of Orlando: Kissimmee Bay Country Club and Remington Golf Club, located less than a mile apart. The business serves a mix of daily-fee recreational golfers (tourists and locals), members, and groups booking tournaments or private events. Kissimmee Bay is the larger of the two, accounting for roughly 61% of total revenue, and features a full-service clubhouse with banquet facilities and aquatic driving ranges. Remington is a smaller, no-frills facility focused on casual recreational play. Green fees and golf recreation drive roughly 64% of revenue, with cart rental bundled into the green fee. Food and beverage contributes roughly 21% of revenue, and membership dues roughly 10%, with the remaining revenue from pro shop retail, equipment rentals, and event bookings. The business is volume-driven and highly seasonal — peak season runs January through mid-April, when Florida's mild winter attracts tourists and snowbirds, with over 200 golfers per day during that period. Revenue drops significantly in summer due to Florida's heat and humidity, making Q1 disproportionately important to annual cash flow. Green fee pricing is tiered by time of day, day of week, and season. Aureus Greenway's primary competitive positioning is value pricing relative to Orlando's resort-area courses, targeting a broad range of golfers and skill levels.

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