Club Corp - Major acquisition includes several Houston-area golf courses

[snagy2000]

A Dallas-based owner and operator of private golf and country clubs has struck a deal that will add several major Houston-area golf courses to its growing portfolio.

ClubCorp (NYSE: MYCC) announced Aug. 13 that it has acquired Atlanta-based Sequoia Golf, which currently owns or operates 50 private and public golf facilities in Texas, Georgia and Colorado including five in the Houston area and one in Galveston Bay.

Local courses included in the $265 million acquisition are:

• The Woodlands Country Club, The Woodlands
  
• The Panther Trail, The Woodlands
  
• The Oaks, The Woodlands
  
• Lake Windcrest, Magnolia
  
• Magnolia Creek, League City
  
• South Shore Harbour Country Club, Galveston Bay
  

ClubCorp plans to invest funds to improve golf course and practice facilities as well as indoor and outdoor dining and gathering facilities. It will also add family-friendly pool amenities and updated fitness facilities to its newly acquired properties. Additional information on the improvements and how much they will cost was not available.

ClubCorp, which owns and operates business, sports and alumni clubs throughout North America in addition to golf and country clubs, owned 12 clubs in the Houston area before the acquisition. The deal will increase its private club count by 31 percent, to 209 from 150. The company said the deal makes its portfolio of clubs five times larger than its nearest competitor, reports the Dallas Business Journal.

I wonder if this will include the TPC and Player courses. If so, wow! Hopefully they'll package it giving access to all the Houston portfolio.

[DixieMafia]

Get ready for those courses to go to Sh!T….

ClubCorp blows. They will suck the money right out of the property and let it be mediocre like the rest of the properties it manages.

[Llortamaisey]

[quote name='DixieMafia' timestamp='1407962206' post='9926665']Get ready for those courses to go to Sh!T….

ClubCorp blows. They will suck the money right out of the property and let it be mediocre like the rest of the properties it manages.[/quote]

You don't know about Canongate golf courses here in Georgia. Sequoia/Canongate makes Club Corp courses look like top notch tracks. Canongate members are probably going to love the acquisition.

[george.arnold]

[quote name='Llortamaisey' timestamp='1407962749' post='9926707']
[quote name='DixieMafia' timestamp='1407962206' post='9926665']Get ready for those courses to go to Sh!T….

ClubCorp blows. They will suck the money right out of the property and let it be mediocre like the rest of the properties it manages.[/quote]

You don't know about Canongate golf courses here in Georgia. Sequoia/Canongate makes Club Corp courses look like top notch tracks. Canongate members are probably going to love the acquisition.
[/quote]

That's too bad. Makes me glad I'm at a member-owned club. Club Corp has its benefits if you like to play multiple courses, but it seems like their management of the facility isn't what it needs to be.

[bigred90gt]

[quote name='DixieMafia' timestamp='1407962206' post='9926665']
Get ready for those courses to go to Sh!T….

ClubCorp blows. They will suck the money right out of the property and let it be mediocre like the rest of the properties it manages.
[/quote]

Every ClubCorp course I have played has been in phenomenal condition and the clubhouses nice. Ever been to Kingwood Country Club? I've played all 4 courses and if it wasnt a 45 minute drive, is join in a heart beat,

What did ClubCorp do to piss you off?