(Pictured: The Dominion Club)
Heritage’s club portfolio includes three resort-style properties on Hilton Head Island in South Carolina, two championship TPC clubs in Florida, and The Dominion Club in Virginia. Mark Burnett, previously with ClubCorp and American Golf Corporation, has been named President and CEO of the new entity.
Through an affiliate, KSL Capital Partners, LLC has acquired the Heritage Golf Group from Tower Three Partners, a private equity firm. The portfolio of Heritage Golf Group, which was founded in 1999, includes three resort-style properties on Hilton Head Island in South Carolina (Port Royal Golf Club, Oyster Reef Golf Club, and Shipyard Golf Club), two championship TPC clubs in Sarasota, Fla. and the greater Tampa Bay area (TPC Prestancia and TPC Tampa Bay), and a private country club in Richmond, Va. (The Dominion Club).
Mark Burnett, who has held previous leadership roles with other KSL portfolio companies, has been named President and CEO of the new entity. Burnett brings over 25 years of executive leadership in the golf industry, most recently as President and COO of ClubCorp. Previously, Burnett served as COO at American Golf Corporation, and President and CEO at KSL Fairways Golf Corporation.
“We are excited to welcome Heritage Golf and its outstanding management team and employees to the KSL portfolio,” said Burnett. “These lifestyle clubs are uniquely positioned and provide a wide range of benefits and outstanding experiences to the members and guests.
“This portfolio provides an excellent platform for future acquisition growth, and combined with KSL’s financial strength, will allow us to expand rapidly in the private club sector,” Burnett added.
“The opportunity to acquire Heritage Golf aligns with our strategy of purchasing high-quality assets in the travel and leisure industry,” added Marty Newburger, a Partner with KSL. “With Mark’s strong leadership, we look forward to improving the member and customer experience at each of the clubs and growing the portfolio through strategic acquisitions, with a strong focus on private country clubs.”
Jeff Woolson, an executive vice president with CBRE who serves as the managing director of its Golf & Resort Group, handled the transaction.