I always thought that pricing was a function of the quality of the product ? ? ?
What's gone wrong at Pound Ridge ?
What's gone wrong at PR was that it cost far more to build than expected - they had to dynamite a lot more than they thought - and that Mr. Wang thinks the only way to make it back is by charging a ridiculous fee and branding it as a destination resort.
Who the hell wants to take vacation in Pound Ridge?
Who the hell wants to play that course for a week straight while losing a dozen balls a day? Pound Ridge is not a vacation spot and the course isn't that much fun to play over and over again. There are a few great holes, but the whole isn't greater than the sum of the parts and the cost is prohibitive.
Nicklaus once said something like Pebble made him proud to be a golfer, Spyglass made him want to go fishing. I felt the same way about PR...fun ride, but it's not the Knoll Club.
And in a recession, even rich people don't burn money needlessly. The $1,100 on a foursome there is well spent in many other ways than a round of golf.