ClubCorp Reports Tenth Consecutive Quarter of Growth

By | October 14, 2016

The Dallas-based owner and operator of private clubs has seen revenue increase $4 million or 1.6% in the third quarter over the previous year, and net income has remained flat. Going forward, the company plans to reduce capital spending, including fewer planned same-store reinventions in 2017, and using excess cash to pay down debt.

ClubCorp Shareholder Encourages Company to Sell

By | September 16, 2016

FrontFour Capital, which owns around 3.4% of ClubCorp’s outstanding shares, criticized the company’s stock performance, which is down nearly 36% over the past 12 months, and urged the company to sell a select number of non-core, lower-returning clubs to help pay down debt. ClubCorp said it appreciated the shareholder feedback, but is confident in its business strategy.

University Club of Jacksonville (Fla.) to Close After 48 Years

By | September 15, 2016

The ClubCorp-operated facility will close its doors on December 20, noting that the closure is a business decision. Three local clubs, Deercreek Country Club, Marsh Creek Country Club and Queens Harbour Yacht & Country Club, are offering preferred memberships to University Club members.

ClubCorp Acquires Heritage GC

By | August 31, 2016

The owner and operator of golf and country clubs plans to spend more than $1 million on improvements to the clubhouse, golf course and practice facilities at the Hilliard, Ohio club. The property features an 18-hole P.B. Dye-designed golf course, clubhouse with casual and upscale dining, and private event space.