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Pinewood Analysis <br /> <br />Market Conditions. 2005 analysis of both national and local <br />market characteristics indicates a combination of declining <br />participation rates and declining rounds played. <br /> <br />Pinewood draws from a relatively small localized market. The golf <br />visits come from within the local community or immediate border <br />communities. <br /> <br />Executive length golf courses appeal to beginner and intermediate <br />level golfers who tend to participate on good weather days only. <br />