The company’s President and CEO, Eric Affeldt, was highlighted in this week’s edition, amid news of the company’s continued international expansion and positive second quarter results.
ClubCorp CEO Featured on Fox Business’ “After the Bell”
Eric Affeldt was interviewed for the July 16 segment titled “Could investing in golf clubs swing your portfolio to big profits?” Affeldt highlighted the club industry’s emphasis on facility reinvestment and appealing to a broad range of consumers.
Capital City Club Announces $1M Renovation
The ClubCorp property in Montgomery, Ala. is adding a new bar and grill station, wireless workstations and upscale dining rooms in conjunction its 35th anniversary.
New York Times Designates Club Industry as a “Buyer’s Market”
According to the report, investors who have the cash are seeing the current golf course market as an opportunity to scoop up distressed clubs and revamp their business models.
Greens Renovation on Deck for Brookhaven CC
The private, Farmers Branch, Texas club will bring new and expanded greens and an updated irrigation system to The Champions Course, which will be closed during construction until August.
ClubCorp Reinvents City Club Raleigh (N.C.)
Members of the Cardinal Club and the Capital City Club, two business clubs formerly known as the Downtown Clubs of Raleigh, will have access to the $3 million project, slated for completion in August.
ClubCorp Acquires Two TPC Facilities
TPC Michigan in Dearborn, Mich., and TPC Piper Glen in Charlotte, N.C., are the latest additions to ClubCorp’s portfolio, marking nine acquisitions for the club owner/operator in the past 12 months.
ClubCorp’s Executive Chef Featured at University of North Texas Event
Jeff Zimmerman was asked to feature a menu of his choice to create alongside students for the annual Guest Chef Day at The Club at Gateway Center, a student-run restaurant.
ClubCorp Properties Undergo Renovations
Cherry Valley CC in Skillman, N.J., has kicked off a multimillion-dollar clubhouse renovation that is slated to be complete this summer, which will include a new pub, Anytime Lounge, and outdoor patio with fire pit. Woodside Plantation CC in Aiken, S.C., has completed its renovation project, including a new Mulligan’s Grill and the addition of an elevated outdoor terrace.
Fresh Outdoor Ideas
Stylish, flexible outdoor dining spaces revitalize member activity and provide a boost to F&B programs.
Dallas Business Journal Features ClubCorp
The publication highlighted the private club owner/operator’s strategy of changing the way people think about golf as well as the way they play it, comparing ClubCorp to the Apple of high-end country and golf clubs. “If there’s a knock on the club industry, it’s that a lot of clubs are old-fashioned in how they look and how they run the business,” CEO Eric Affeldt said.
Elite Company
On February 7th at The Country Club of Orlando (Fla.), the 2013 recipients of the Excellence in Club Management (ECM) Awards, co-sponsored by Club & Resort Business and the McMahon Group, were honored during a special reception, dinner and ceremony held in conjunction with the Club Managers Association of America’s annual conference.
ClubCorp Posts $60M Revenue Increase
The private club owner-operator announced financial results for its fiscal year ended December 31, 2013, including the 8% revenue increase, $26 million spent on reinvention capital, and a total membership increase of 2,037, or 1.4%. One of the firm’s most recent acquisitions was of Prestonwood CC in Dallas, for which ClubCorp drew $11.2 million from a credit line to make the purchase, with plans for $5 million in improvements.
ClubCorp Acquires Prestonwood CC
The Dallas, Texas club features two 18-hole golf courses, each with its own clubhouse, and ClubCorp “plans to invest in a multimillion-dollar renovation project that will include improvements to member dining areas, both golf courses and family amenities.” Prestonwood has been involved in a water dispute with the city over the irrigation source for its Plano golf course, and the owners announced that they would sell the property last week.
Quintessential Quartet
McMahon Group, Inc., and Club & Resort Business have announced the 2013 recipients of the Excellence in Club Management (ECM) Awards program, established in 1997 by the McMahon Group and co-sponsored since 2005 by C&RB.