After a downturn that was cited by one multiple-course owner as “by far the toughest ever in the industry,” course owners and real estate investors are betting on a comeback, Bloomberg News reported. Property prices are climbing and club shutdowns have slowed as recreational golfers return after scaling back club memberships during the recession.
Premier Club Holdings, LLC has purchased the Clearwater, Fla., club from Fore Golf at an undisclosed price. The private club features an 18-hole Joe Lee/Bob Cupp Signature Course, a 50,000-sq. ft. clubhouse, a lighted Har-Tru tennis facility, swimming complex and fitness center.
The company announced its first acquisition, Feather Sound Country Club located in Clearwater, Fla.