Five Iron receives $20 million investment from Shake Shack founder Danny Meyer.

• An investment firm co-led by Shake Shack founder Danny Meyer, Enlightened Hospitality Group, has invested $20 million in Five Iron Golf, an indoor golf and entertainment company.
• Golf simulator rentals, golf lessons, and food and drinks are available at Five Iron Golf's 24 locations, including its new flagship location at Grand Central Station in New York City.
• Golf's popularity is increasing, and more players are choosing to play the sport off a course rather than on one.

Danny Meyer, the founder of , admits that he wasn't always a golfer, but when he decided to take up the sport, he encountered a common challenge: limited time to play and difficulty locating a course to play on.

Enlighted Hospitality Investments, led by Meyer, made a $20 million minority investment in Five Iron Golf after Meyer took a lesson with a golf pro on an indoor simulator.

"Meyer stated that golf is being used in a way that restaurants have always attempted, which is to make something more accessible to a wider audience while maintaining quality."

Since its inception in 2017, Five Iron Golf has expanded its appeal to various types of golfers, as stated by CEO Jared Solomon. The company's golf simulators, used by professional players, are available at its locations, some of which open early in the morning for pre-work play. Additionally, the locations offer leagues, lessons, food, and drinks, making them ideal for events and parties. Meyer and his team will focus on enhancing these areas of business, Solomon added.

Solomon stated that Five Iron Golf's core is to be the ideal destination for both the dedicated golfer and the entertainment-seeking individual.

The combination of golf and entertainment is contributing to the growth of the sport. In 2023, an estimated 45 million people played golf in the U.S., a new record and an increase of approximately 9% from the previous year, according to data from the National Golf Foundation.

The number of people who only play golf on courses has decreased by 9% from the previous year, while those who play only off the course or a combination of both have increased by 19% and 17%, respectively.

According to NGF data, more players are participating in golf entertainment activities at venues like standalone driving ranges and businesses with simulator and screen golf setups than are playing on a course.