LAFAYETTE (AP) — Acadian Hills Country Club has closed its doors after almost 50 years in business.

John Guilbeau, the club’s owner, says the board of Acadian Hills Management Inc. decided late Tuesday to close effective Wednesday.

Guilbeau says he has fond memories of the 49-year-old club, including watching its transition from a dairy farm into a golf course.

In a memo to club members, Guilbeau said the club can no longer be a “competitive entity in the golfing industry.” He says the club has seen a drop in its membership and in outside play because families are feeling the economic downturn and have fewer recreational dollars to spend.

He also says the facility could not keep up with rising costs of goods, fuel, insurance, equipment, fertilizer and wages.