The golf course design firm and licensing company founded by Jack Nicklaus will partner with Rentyl Resorts, a lodging hospitality platform that places travelers in private homes and provides concierge services. A successful test of the concept at The Bear’s Den Resort in Orlando, Fla. generated a 70% per-square-foot premium, the partners say, while also boosting home sales in the property’s private development.
Rentyl Resorts, a Kissimmee, Fla.-based lodging hospitality platform that describes its mission as “[elevating] vacations by blending the comforts of home with a top-notch services of a high-end resort,” has announced a partnership with the Nicklaus Companies, through which the golf course design firm and licensing company founded by Jack Nicklaus will enter the single-family residence lodging hospitality sector for the first time and will introduce branded lodging hospitality services to its network of developers, clubs, and resorts.
The partnership will market “residential resort” service that will offer travelers high-end experiences, including private homes and concierge services, at top destinations around the world. Rentyl forecasts branding more than 100 high-end residential resort experiences with the Nicklaus Companies over the next five years.
According to those in the partnership, the “resort + residential” format will increase residential and golf club revenue streams for developers, expand asset value and profitability, and allow developments to diversify their product and create options to significantly lift asset value.
The partners report a successful test of the concept at The Bear’s Den Resort in Orlando, Fla. the first Jack Nicklaus-branded resort in the world. The joint effort combined Rentyl’s hospitality experiences with high-end real estate located near the area’s theme parks and golf courses that have been designed by the Nicklaus Companies.
In 2019, the homes at Bear’s Den Orlando sold at a rapid pace, selling out all 95 units in 18 months in the private enclave of the development, while achieving a 70% per-square-foot premium in the area’s luxury real estate market, Rentyl reports. And with Bear’s Den becoming a favorite vacation spot among golfers and families visiting Central Florida and other popular surrounding destinations, Rentyl says, the format and partnership resulted in success for individual buyers, as Rentyl Resorts secured 63% occupancy at an $1,095 Average Daily Rate in its first year of operation, eclipsing other luxury competitors in the market.
“The Nicklaus brand philosophy is to seek out the leading performers in each industry in creating best-in-class experiences or products,” said Andy O’Brien, President of Nicklaus Brands, as the partnership was announced. “For decades, we have recognized the close relationship between premier golf experiences and luxury resort real estate. Rentyl Resorts has proved its expertise in hospitality management, branding and bringing to market vertically integrated solutions that can benefit both the consumer and our community development partners.”
Howard Milstein, Executive Chairman of the Nicklaus Companies, added: “There is no greater responsibility or honor than being entrusted with protecting and enhancing Jack [Nicklaus]’s legacy. In golf, in business and in philanthropy, Jack Nicklaus is the gold standard, and we pick our partners carefully to ensure a level of quality and service worthy of the Jack Nicklaus name. We look forward to working closely with the Rentyl Resorts to establish success for both companies.”
Nick Falcone, founding partner of Rentyl Resorts, added: “We are incredibly excited to partner with an industry leader like the Nicklaus Companies, as no brand typifies a winning spirit and excellence better than Jack Nicklaus and his storied career. Creating a model where all stakeholders win – resort guest, developer, operator and home buyer—while creating an unparalleled guest-branded experience worthy of its namesake is a true pleasure.”
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