![]() ![]() Business breakdown: A cash cow and a race horse I'm writing this article to express the reasons why I still believe that Drive Shack, especially from this price point, can provide investors with oversized returns in the near future. Drive Shack's share is currently trading at $0.62, with the market pricing in the uncertainty regarding the company's path towards profitability, given the high inflationary pressures. However, the very aggressive monetary tightening policy adopted by the FED, turned the tables against leisure stocks, and even more against growing leisure stocks such as this one. And indeed, the share price thereafter rose to touch $2/share, which stood for a 25% gain. I also stated that the main risks were the increase in construction costs of the puttery venues. In my last article about the company, 8 months ago, I had written that a small, speculative investment in the company would make sense, as 2022 was (and is) going to be a pivotal year in the company's growth. I'm talking about Drive Shack ( DS), a company operating in the leisure sector and specifically, in traditional golf and puttery venue segments. It was just a very aggravating experience to what should have been a fun outing for our grandson! If we return, I will call and see how all those people got reservations because I tried online and it stated that they were not accepting reservations.Today I'm revisiting a company that I believe has suffered by the market more than it should. He very politely adjusted our bill to the morning rate. I explained that we had arrived at 11:20 and the 1 1/2 hour wait had turned into a 3 1/2 hour wait. When checkout time came, our waiter brought us our bill with the afternoon rate of $10 more per hour. We did enjoy our time once we finally got to play. Finally, at 3:00 we were assigned to a bay! Ridiculous! 3 1/2 hours later and we had promised our daughter that we would have our grandson home by 5 which wasn’t going to happen because it’s a 2 hour drive. NOT! We were standing at 220 as he cleaned it, and my name had not been loaded to that bay. We went and waited, and waited! So I went back down stairs because we still did not have a bay. After 3 hours, I went back to the front desk to be told that she had typed in the wrong phone number when I registered with her earlier that morning and that I would be moved to the top of the wait list and for me to go to the 2nd floor with my family and she would text me the location once it was cleaned. After an 1 hr 45 minutes I checked back at the front desk to see where we were only to be told that it would be about another 20 minutes. Perfect! We went upstairs to grab a bite for lunch while we waited. We arrived about 11:20 am and was given a wait time of 1 1/2 hours. Today was our first day visiting the Drive Shake from out of town to treat our grandson to a day out for his birthday. The drivers are very basic, I recommend buying one of your own to get maximum distance on the balls. ![]() Food is very good, not overpriced and comes out in a reasonable amount of time. We will go back as there is no other place like this in Raleigh. I mentioned this to an employee passing by who didn’t tell management as one hour later the bathroom was still in the same condition. Urine on the floor in front of the urinals. It was less than clean, dirty water pooled on the sink counters, kids were leaning in it getting their shirts wet trying to wash their hands. 2nd disappointment was the condition of the Men’s Restroom on the 2nd level. We ordered less food and drinks due to the server issue so yes, it costs Drive Shack money when the server won’t stop by. Comment cards could help identify bad servers. ![]() Having a call button would help the situation. This was not the case during our previous visit so we were disappointed that our server this time around was M.I.A. We often had to ask random employees to find our server for us. I recommend installing ‘call buttons’ for wait staff as our server was very difficult to flag down to order food, get drink refills etc. A few disappointments however during our last visit. We watched various bays being wiped down/sanitized, they do a thorough job of it. Drive Shack is a lot of fun and we appreciate the efforts made to combat the coronavirus. Go right at opening time to get the lower hourly rate otherwise it will be very pricey. ![]()
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