Dallas-based Millennium Club Partners plans to purchase private clubs for its own account, partner with multi-course owners to complete acquisitions and invest directly in member-owned clubs.
Millennium Club Partners has been formed as a multi-faceted resource for the private golf and country club industry, it was announced on September 9. The Dallas-based company’s business model will focus on offering individual clubs and owner/operators a wide variety of capital assistance and partnership opportunities.
In announcing the formation of the new firm, Tom Bennison, a 40-year private club industry veteran who will be its new President, outlined three strategies for Millennium Club Partners: purchasing private clubs for its own account; partnering with multi-course owners by providing capital to complete acquisitions; and investing capital in member-owned clubs.
Several acquisition and long-term lease opportunities with member-owned clubs are currently being evaluated, it was noted, with “well-located clubs that are rich in history but plagued with deferred capital needs” topping the new firm’s “list of desired acquisitions.”
“I’ve been amazed at the impact judicious capital investment can have on membership enrollment, retention, revenue growth and bottom line performance,” Bennison said. “Just like repositioned hotels, residential communities and office buildings, clubs too should realize significant turnaround results when disciplined, value-added capital is invested.”
Other investors in Millennium Club Partners include Christopher Bancroft, a former Director of Dow Jones & Company; Harold (Hank) Handelsman, counsel to the Pritzker family of Chicago for 35 years; and Dallas businessmen John Pigott and Bruce Leadbetter.
The new company’s principals share a belief, it was noted, that “tomorrow’s private club will not only feature a great golf experience, but also a broad range of family-oriented amenities, including resort-style pools, expansive fitness facilities, modern clubhouse decor and exceptional dining experiences.”
More information on Millennium Club Partners can be found at (http://www.millenniumclubpartners.com) or by contacting Tom Bennison at 972-467-5709 or [email protected].
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