NEW YORK (Money Magazine) - Annika and Tiger have upped golf's TV ratings, but even the sport's golden pair can't lure enough people out for a day on the links these days.

Statistics from the National Golf Foundation (NGF), an industry research group, tell the tale: The number of rounds played in 2002 dropped 3 percent, then another 2.5 percent in early 2003. Fingers are pointing at the economy, bad weather, and a shrinking population of people willing to spend free time apart from their families.

Meanwhile, the number of golf courses has continued to grow, to nearly 16,000 by the end of last year.

This, of course, adds up to excellent deals at America's top golf resorts.

"It's a great time to be a golfer," said Jim Koppenhaver, president of Pellucid, a golf-industry information provider. "Industry experts are finally realizing that golfers are consumers too. Give them some value options, and they're going to snap them up."

While the best deals are in areas most affected by overbuilding, such as the lower Midwest and the Southeast, the values are spreading. The NGF's newest report cites a 25 percent decrease in golf-travel spending in 2002 -- a statistic that's spurring lower rates at destination resorts nationwide.

How long will the glut last?

Some experts point to signs of a correction already in the offing, with many less appealing layouts being converted into parking lots, office complexes, and malls. But almost everyone agrees that for the next year or so, it's a golfer's market.

The following picks, all destination resorts for personal or corporate travel, have always been tops in playability, lodging and amenities. Now you can add value to a list of reasons to go. (Rates assume double occupancy unless otherwise noted.)

The Robert Trent Jones Golf Trail brought reputable play to the state in the early 1990s. Since then, the greening of Alabama has been taken over by Gulf Shores-area resorts.

Kiva Dunes Golf Resort

One of the toughest courses is at the Kiva Dunes Golf Resort, on a spit of land between the Gulf of Mexico and Mobile Bay. The Jerry Pate creation is a lesson in extricating ball from bunker, and the wind that barrels in off the Gulf doesn't help matters.

Yet the dunes, scrub oak, pine trees and natural wetlands serve up one of the most beautiful nature walks in the game. The $145 per-person, per-day package is based on four sharing a three-bedroom townhouse, with unlimited golf, a cart, greens fees, service fees and breakfast (866-540-7100; kivadunes.com).

Off-course: The seven-story clubhouse has a fitness center and three pools, and it fronts a private beach.

Two hours south of San Francisco, the 1,700-acre Carmel Valley Ranch is all about romance (think en suite couples' massages in front of a wood-burning fireplace).

But those who peel themselves off the massage table will find the versatile Pete Dye-designed 18-hole spread a good match for any level of golfer. Dye calls the Carmel course one of his personal bests, and since wife Alice Dye rejiggered the women's tees, it's become one of the top picks for women.

Carmel Valley Ranch

(A course is female-friendly when it rates multiple tees for women, is consistently challenging on both the front and back nine, and offers lessons with female pros.)

This is also one of the best deals going in late fall/early winter: After Nov. 16, the Eagle Golf package for two includes a one-bedroom suite, one 18-hole round and a massage or facial for $243 a night -- a $100 drop from last year (877-999-3223; wyndham.com). Off-course: The historically rich Carmel Mission, circa 1770, is open year round.

Colorado Springs' high-desert clime brings mild autumns (60ºF to 65ºF) to the Broadmoor resort's 45 holes. The toughest layout is the West Course, with its steeply angled greens bored into the flanks of the Cheyenne Range. The well-groomed East Course's broad fairways are more forgiving; the Mountain Course is narrow but scores points for eye-popping scenery.

A $190 per-person, per-day golf package (Oct. 1 to Nov. 30) includes a room, breakfast, 18 holes a day, greens fees, a cart, balls and service fees (800-634-7711; broadmoor.com). Off-course: Try the Broadmoor Falls Shower -- a 17-spray hydromassage -- at the renowned spa.

The 3 1/2-mile stretch of powder-white sand is as much a draw of Amelia Island Plantation as the Tom Fazio-designed Long Point course. The 670-room resort sits on an island separated from mainland Florida by the Intracoastal Waterway.

Leaving the Fazio course to the seasoned swingers, intermediates can keep busy on Ocean Links, with five challenging holes abutting the shoreline and a par three whose green is set in a lake.

The Pete Dye-designed Oak Marsh is one of his earliest creations -- consistent, with few surprises. The Unlimited Golf package, good through Feb. 28, 2004, is $111 per person per night (based on four people sharing a two-bedroom villa).

Included are play on Ocean Links or Oak Marsh (it's $35 extra to play Long Point, which reopens in late October after upgrades), a cart, balls and health-club passes (888-261-6161; aipfl.com). Off-course: all the perks of an ocean vacation, from kayaking to offshore reef fishing.

Deals of any kind are hard to come by in Hawaii, especially on golf-rich Oahu. But some are there to be had. Consider the Outrigger Waikiki, with unlimited rounds at Coral Creek Golf Course. It's a challenging spread known for exposed coral formations and a full 13 holes where water comes into play.

The $280 per-couple, per-night rate is good through Dec. 21 (800-688-7444; outrigger.com). Transportation to the course, which is off the property, costs extra. Off-course: The resort takes pride in all things Hawaiian; the lobby doubles as a heritage museum, and there are frequent cultural events.

There are some 20 courses here -- the most on any island in the region -- competition enough to produce the great package on offer at the Wyndham El Conquistador, a mega-resort in Las Croabas. For $75 per person per night, through Dec. 19, golfers can play all they want on the resort's Arthur Hills-designed par-72 course; the cart is included, but not taxes or service fees, which add about $25 per room per night.

Wyndham El Conquistador

The 18-hole spread is on a hilly 300-foot-high bluff overlooking the Atlantic and is considered challenging thanks to a 200-foot elevation change. The money shot, a par four on the fifth hole, is off an elevated tee into the wind (800-996-3426; wyndham.com). One caveat: Hurricane season lasts through November.

Off-course: all the bells and whistles you'd expect at a 900-plus-room resort (12 restaurants, six pools, a casino), plus some you don't (a private islet, Palomino, accessible via a 20-minute water taxi).