<ARTICLE> 5 <CIK> 0001017482 <NAME> COBBLESTONE GOLF GROUP, INC. <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> SEP-30-1997 <PERIOD-START> OCT-01-1996 <PERIOD-END> JUN-30-1997 <CASH> 902,645 <SECURITIES> 0 <RECEIVABLES> 10,814,547 <ALLOWANCES> 5,189,268 <INVENTORY> 2,606,280 <CURRENT-ASSETS> 10,097,212 <PP&E> 177,670,629 <DEPRECIATION> 21,429,794 <TOTAL-ASSETS> 178,149,816 <CURRENT-LIABILITIES> 9,064,601 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 4,308 <COMMON> 1,350 <OTHER-SE> 65,346,250 <TOTAL-LIABILITY-AND-EQUITY> 178,149,816 <SALES> 14,414,750 <TOTAL-REVENUES> 59,577,245 <CGS> 6,482,954 <TOTAL-COSTS> 51,902,354 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 213,875 <INTEREST-EXPENSE> 8,006,008 <INCOME-PRETAX> (331,117) <INCOME-TAX> 274,239 <INCOME-CONTINUING> (605,356) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (605,356) <EPS-PRIMARY> 0 <EPS-DILUTED> 0