Century Golf Partners Forms Joint Venture with Hankuk Industry and Acquires the Iconic PGA WEST Golf Portfolio located in La Quinta, California
DALLAS, Feb. 10, 2020 /PRNewswire/ -- Century Golf Partners, one of the most experienced golf and club management teams in the world, and Hankuk Industry, an owner of private clubs and golf courses in the U.S. and Japan, have formed a joint venture and acquired the PGA WEST Portfolio, which includes The Citrus Club, and comprises five clubhouses and nine golf courses located in La Quinta, California.
Century Golf Partners was founded in 2005 for the purpose of acquiring and managing private clubs, public courses and golf resorts and will be the managing partner of the joint venture. The PGA WEST Portfolio will be managed under its Arnold Palmer Golf Management brand. Century Golf owns and/or operates more than 45 courses throughout the U.S., including Walt Disney World Golf in Orlando. Hankuk Industry currently owns 25 golf courses, along with being a distributor of Baroness turf maintenance equipment and Yamaha golf carts in South Korea.
The acquisition of the Portfolio was finalized on January 31, 2020 and includes two private clubs – PGA WEST Private Club and The Citrus Club – with golf courses designed by Arnold Palmer, Jack Nicklaus, Tom Weiskopf and Pete Dye. There are five resort courses open for public play, including the renowned Stadium Course designed by Pete Dye, the Tournament Course designed by Jack Nicklaus, the Greg Norman Course and the Mountain and Dunes Courses designed by Pete Dye.
The historic La Quinta Resort will remain with its current ownership and the PGA WEST Portfolio and La Quinta Resort will maintain a close working relationship so that each may continue to provide members and guests with exceptional service and facilities.
"Most people are drawn to PGA WEST because of the gorgeous desert setting, spectacular views and legendary golf experience. For us, it's a dream come true to be part of 'The Western Home of Golf in America,'" said Jim Hinckley, Century Golf's Founding Partner and CEO. "We are looking forward to working with the talented teams at PGA WEST and The Citrus Club to build on the rich history and deliver extraordinary experiences for all to enjoy," added Doug Howe, Partner and COO of Century Golf.
About Century Golf
The Century Golf team has a distinguished record of partnering with owners, members and communities to help clubs succeed. The leadership team has managed multiple club and golf companies and operated over 500 golf courses. For more information visit centurygolf.com or palmergolf.com.
About Hankuk Industry
Hankuk Industry is owned by Mr. Shin Il Yoo, who has been involved in the golf industry since 1990. Mr. Yoo and his family have been acquiring golf courses for the past 17 years, and their portfolio includes Marbella Country Club in San Juan Capistrano, CA; The Oregon Golf Club in West Linn, OR; Chiba Isumi Golf Club and Yonehara Golf Club both in Chiba, Japan. Mr. Yoo has a deep respect and passion for the game of golf and is very excited to be involved with PGA WEST and The Citrus Club.
About PGA WEST and The Citrus Club
Part of a 2,000-acre golf and lifestyle community in La Quinta, California, PGA WEST is synonymous with professional golf. The famed Dye Stadium Course and Nicklaus Tournament Course play host annually to a PGA Tour event - The American Express. With six exceptional courses (3 public and 3 private), expansive dining, and a wide variety of fitness and recreational amenities PGA WEST is highly acclaimed by its members and guests. The Citrus Club provides a private club experience with additional golf, tennis, fitness and entertainment privileges at La Quinta Resort. Visit pgawest.com and thecitrusclub.com for more information.
SOURCE Century Golf Partners
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