The San Diego, Calif.-based hotel ownership and management company bought the resort at auction. The company, which plans to take over operations on April 1, invested $15 million to $18 million in the acquisition with plans to invest up to $50 million in the renovation and redevelopment of the historic facilities.
The Auburn, Calif., club was sold to the Chinese investment firm for an undisclosed amount in early January. The new owners are planning significant infrastructure upgrades, including adding working bathrooms, fixing on-course bunkers, constructing a clubhouse, and possibly creating a golf academy.
The Irvine, Calif., club awarded checks of $20,000 each to Families Forward, Orangewood Children’s Foundation, Children’s Hospital of Orange County and the Wounded Warriors Project, through a new charity initiative that it hopes to make an annual outreach.
Two courses that fell victim to the burst of the real-estate bubble, River Valley Ranch and Lakota Canyon GC, are being acquired by new investors with different business plans for their operation.
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