News Summary
The PGA National Resort & Spa has been acquired by London’s Henderson Park for approximately $425 million, marking a significant chapter in its esteemed history. With a recent $100 million renovation, the new ownership plans to enhance the resort’s facilities, ensuring a top-tier guest experience. Hosting the Cognizant Classic in early March, this iconic venue is set for a rejuvenation that promises to elevate its status as a premier destination for golf enthusiasts and tourists alike.
PGA National Resort & Spa: A New Chapter Begins
Golf enthusiasts, gather around! The prestigious PGA National Resort & Spa has just kicked off an exciting new chapter in its storied history. The resort is now under new ownership after being snatched up by London-based private equity firm Henderson Park in a deal reported to be around a whopping $425 million. Can you believe that?
What’s the Buzz?
As of early Monday, no legal documents have been filed to confirm the sale price, but whispers around the golf circles have everyone buzzing with the speculation. Henderson Park has already made it clear that they take the resort’s deep-rooted history and bright future seriously. And here’s the icing on the cake – there’s been a recent $100 million renovation that has reinvigorated the entire place.
A Transformative Vision
Henderson Park executives are pretty pumped about what’s to come. They’ve outlined plans to not only enhance the existing facilities but also to enrich the overall guest experience. With 807 acres of beautifully maintained land, it’s clear this is no ordinary destination. Picture this: six championship golf courses, a sprawling 40,000-square-foot spa designed by the renowned V Starr, and an array of restaurants, including The Butcher’s Club, helmed by “Top Chef” winner Jeremy Ford. It’s not just about golf here; it’s a complete getaway!
Upcoming Excitement
Circle your calendars because the resort will host the Cognizant Classic, part of the PGA Tour, from February 27 to March 2. This long-standing event has been part of the PGA National fabric since 2007, and with new ownership, it’s poised to take an exciting turn. Just imagine the buzz of the tournament echoing through the greens!
Investments and Future Aspirations
Now, let’s talk about the joint venture side of things. Henderson Park didn’t go it alone; they partnered up with Salamander Hotels and South Street Partners for this acquisition. Salamander’s founder, who is no stranger to luxury hospitality, believes that PGA National is one of America’s iconic golf resorts. The team has some big plans for bringing their unique hospitality style to this beloved property.
The Community Vibe
PGA National is more than just a resort; it’s a vibrant community filled with approximately 5,000 homes. Some high-end properties are valued at over $4 million, highlighting the area’s appeal. With upcoming corporate growth in the vicinity and the establishment of a Vanderbilt University campus, the demand for this stunning locale is only expected to rise. Residents and visitors alike appreciate the amazing amenities that make this community a sought-after destination.
The Seller’s Journey
Let’s not forget the previous owner, Brookfield Asset Management, who acquired this gem for $218 million back in 2018. They undertook the extensive $100 million renovations that set the stage for this next phase. They even tapped Eastdil Secured for guidance during the sale process, showing how valuable this property has become in the golf world.
What’s Next?
Under the new ownership, we can look forward to substantial improvements, including a brand new pool and various enhancements to the golf experience that will delight both members and guests. Those involved are eager to elevate PGA National’s brand, aiming to match its long-standing reputation as a golfer’s paradise.
With its rich history, luxury amenities, and an ever-evolving approach to guest experience, the PGA National Resort & Spa is set to remain a cornerstone in the golfing world for years to come. Get ready to tee off and soak in the rejuvenated vibe at this iconic destination!
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Additional Resources
- Palm Beach Post
- Wikipedia: Cognizant Classic
- ESPN SWFL
- Google Search: PGA National Resort
- IPE Real Assets
- Encyclopedia Britannica: Golf
- Travel Weekly
- Google News: PGA National Resort and Spa
