The private investment group purchased Blackthorn Golf Club in South Bend, Ind., last fall and hopes to buy Elbe Golf Course, located three miles away, as part of a “package deal,” with plans to maintain both as golf properties.
Acquisition Group, LLC, the same group of private investors that bought Blackthorn Golf Club in South Bend, Ind., wants to buy Elbel Golf Course, the South Bend-based WNDU Channel 16 reported.
“If you look at a traditional ‘stay and play’ facility, they normally have more than one golf course,” said Timothy Firestone with Acquisition Group, LLC.
In fact, the bid submitted for Blackthorn last fall by Acquisition Group, LLC made it clear that the group wanted a package deal, WNDU reported.
“We would definitely, keep the golf course (Elbel) open and operate it, would not close it, would not develop it,” said Firestone. “We want it to be a golf course, want it to be another shining light asset to the City of South Bend.”
When asked if the city would be willing to sell Elbel, Mayor Pete Buttigieg replied: “The fact that there’s interest right now means that we should be taking a look at it right now, so I’ve asked my team to begin looking into the financial as well as the community implications of making a change.” He did not set a timeline for the city’s decision.
With the two courses just three miles apart, Blackthorn and Elbel could share maintenance crews and equipment, as well as sales, marketing, and administrative teams, if they were in the hands of a single owner. And Elbel and Blackthorn could work in concert to help fill a planned 75- to 150-bed hotel for the Blackthorn property, WNDU reported.
“I think that certainly, if we have the hotel component where we’re generating more rounds in South Bend, we’re going to need more capacity, we’re going to need more places to play,” said Firestone.
The most dramatic change planned for Elbel would be a significant cut in greens fees. “If we can lower that rate a little bit then all the sudden maybe take some of the market share from the lower end golf course. It might make some sense to compete in a different demographic,” said Firestone.
Firestone said the current weekday fee at Elbel of $38 dollars would likely be trimmed to $25 with cart, while the current weekend rate of $43 per round, would be lowered to $30.00. “And I think we can make that up with volume by doing more rounds than they’re currently doing.”
Firestone says the hotel will be built whether or not the group acquires Elbel, WNDU reported.
While both courses were built and owned by the city, Blackthorn was owned by the South Bend Redevelopment Commission, while Elbel is owned by the South Bend Park Board, WNDU reported.
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