ClubCorp Completes Acquisition of Multi-Club Portfolio
DALLAS, April 7, 2015 /PRNewswire/ -- ClubCorp – The World Leader in Private Clubs® (NYSE: MYCC) – today announced it has completed its acquisition of a multi-club portfolio of six golf clubs further increasing its portfolio of private clubs. The acquisition includes four private clubs, one semi-private club and one public golf club – adding 171 holes of golf in already established ClubCorp markets throughout the Southeast United States.
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- Bermuda Run Country Club just west of Winston-Salem, North Carolina – a private country club offering 36 holes of championship golf, two clubhouses, an Olympic pool with lazy river and tennis center
- Brookfield Country Club outside of Atlanta, Georgia – a private country club featuring a challenging yet very playable 18-hole championship golf course known for its outstanding greens, clubhouse with banquet rooms, a pool, tennis and fitness facilities
- Firethorne Country Club near Charlotte, North Carolina – a private country club with a beautiful 18-hole golf course set against a backdrop of a mature hardwood forest, clubhouse, water park with four pools and a tennis complex
- Ford's Colony Country Club in Williamsburg, Virginia – a semi-private golf club offering three distinct championship 18-hole golf courses – each a unique playing experience – indoor and outdoor practice facilities, and a clubhouse with upscale and casual dining
- Legacy Golf Club near Tampa, Florida – a public golf club featuring an 18-hole Arnold Palmer-designed championship golf course, practice facilities and grill
- Temple Hills Country Club outside of Nashville, Tennessee – a private country club offering 27 holes of championship golf, a clubhouse, junior Olympic-size pool, and tennis
The acquisition, for a combined purchase of just under $44 million, was funded from existing liquidity. Consistent with prior acquisitions, ClubCorp plans to reinvent and renovate these clubs via a multimillion-dollar investment, further adding amenities, functionality and programming to improve the member experience.
"We are very excited about the addition of these clubs to ClubCorp's portfolio," said Eric Affeldt, ClubCorp President and CEO. "We are in the membership business and this acquisition includes thousands of new members, which – because of our Network reciprocal-use program – presents tremendous benefits and value to our current members and the new members."
With golf, business, sports and alumni club properties throughout the US, Mexico, and China, ClubCorp offers more opportunities for members to connect, play, work, host and celebrate life's moments. Benefits members may elect to enjoy include ClubCorp's unique O.N.E. (Optimal Network Experiences) program, which provides value-oriented benefits at the Member's home club, in their Community and Worldwide. Worldwide benefits include complimentary green fees and complimentary dining when traveling to more than 300 private clubs and access to more than 1,000 hotels, resorts and entertainment venues.
About ClubCorp (NYSE: MYCC)
Since its founding in 1957, Dallas-based ClubCorp has operated with the central purpose of Building Relationships and Enriching Lives®. ClubCorp is a leading owner-operator of private golf and country clubs and private business clubs in North America. With its recent acquisition of Sequoia Golf, ClubCorp now owns or operates a portfolio of over 200 golf and country clubs, business clubs, sports clubs, and alumni clubs in 26 states, the District of Columbia and two foreign countries that serve over 430,000 members, with approximately 20,000 peak-season employees. ClubCorp Holdings, Inc. is a publicly traded company on the New York Stock Exchange (NYSE: MYCC). ClubCorp properties include: Firestone Country Club (Akron, Ohio); Mission Hills Country Club (Rancho Mirage, California); The Woodlands Country Club (The Woodlands, Texas); Capital Club Beijing; and Metropolitan Club Chicago. You can find ClubCorp on Facebook at facebook.com/clubcorp and on Twitter at @ClubCorp.
SOURCE ClubCorp Holdings, Inc.
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