This example of a classroom case study introduces Dalmahoy, the family estate of the Earl of Morton, located near Edinburgh, Scotland. Dalmahoy has been leased to an outside management firm that has successfully operated similar properties; nevertheless, Dalmahoy's numbers have not met expectations. Beyond its picturesque appearance, the property's chief attraction is golf, although it has a health club and other facilities. Competition from other golf courses, large and small, seems to be a factor.