The Park City, Utah club, with over 300 members, is now registered as a 501(c) 7 non-profit entity, after completing the conversion with the affiliate of DMB Associates, the developer of the property. The deal takes Glenwild “into the future as a privately owned, well-funded boutique golf club,” said the Board President for the member acquisition group. All current executive staff is being retained through the transition.
Glenwild Golf Club and Spa in Park City, Utah, is set to become a private club after the Board of Directors of GGC Member Acquisition Inc. signed documents to complete the conversion, Utah Pulse.com reported.
Scottsdale, Ariz.-based Glenwild Golf Club, LLC, an affiliate of DMB Associates, which was the developer of the property, and GGC Board President Phil Hildebrand finalized the transaction on June 24th, UtahPulse.com reported.
The move comes after a majority of the 300 club members voted to become equity members, and the new Glenwild entity is now registered as a 501 (c) 7 non-profit, private club, UtahPulse.com reported.
“We are extremely gratified that the members of Glenwild recognized and supported this deal to take Glenwild into the future as a privately owned, well-funded boutique golf club, offering a best-in-class golf experience for members and their guests,” Hildebrand told UtahPulse.com.
The new private club will retain the current executive administration and staff across golf, dining, clubhouse facilities, spa, pool, locker room and tennis, the website reported.
Randy Addison, president of Addison Law Firm, which specializes in golf, club and hospitality transactions, was the lead attorney for the conversion, according to Utah Pulse.com.
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