The Dallas-based club and golf course operator’s initial public offering could help build on its growth strategy. In the first quarter of 2013, ClubCorp posted a total revenue of $155.1 million, up 3.5 percent for the same period in 2012. ClubCorp’s shares would be listed on the New York Stock Exchange.
Dallas-based ClubCorp Holdings Inc. has filed for a $100 million initial public offering, which could help the operator of country clubs and golf courses build on its growth strategy, the Dallas Business Journal reported.
ClubCorp CEO Eric Affeldt spoke with the Business Journal in April about the company’s growth strategy, but did not comment on the IPO.
“We’ve been growing our memberships, increasing our facility usage and expanding our golf playing initiative,” Affeldt said to the Business Journal in April’s first quarter earnings phone call. “Based on the first quarter, I remain optimistic for the rest of the year.”
In the first quarter, ClubCorp posted a total revenue—which includes club operations, food and beverage revenue, and other revenues—of $155.1 million, up 3.5 percent for the same period in 2012, the Business Journal reported.
Last year, the U.S. saw record warm temperatures, which gave ClubCorp a jump on an extended golf season. After a series of club renovations, ClubCorp saw a 36 percent increase in revenue year-over-year in 2012, the Business Journal reported.
The company filed the paperwork for the IPO on July 12 with the Securities and Exchange Commission in hopes of raising up to $100 million in stock offering. ClubCorp’s shares would be listed on the New York Stock Exchange, the Business Journal reported.
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