Business of Golf – Syndication Server

Topgolf Callaway Brands to split into two independent companies

” … we have been disappointed in our stock performance for some time.”

Topgolf Callaway Brands Corp. announced Wednesday that its board of directors intends to pursue the separation of its two primary businesses, Topgolf and Callaway, making them two independent companies.

In March 2021, Callaway Golf Co. acquired the remainder of Topgolf Entertainment Group that it didn’t already own, valuing the driving range chain at approximately $2 billion. The joint company was renamed Topgolf Callaway Brands Corp., but starting in March of this year, rumors began to swirl that a breakup could be coming.

In August, Topgolf Callaway reported that its second-quarter revenue was $494 million, while its first six months’ revenue exceeded $917 million. While those numbers represented increases, they came almost exclusively from the creation of new venues because the same-venue sales were down 8 percent. At the time, Topgolf Callaway reported that traffic to existing Topgolf locations slowed.

After that announcement, Topgolf Callaway CEO Chip Brewer said, “We remain convinced Topgolf is a high-quality business with significant future opportunity. At the same time, we have been disappointed in our stock performance for some time, as well as more recent same-venue sales performance.”

Topgolf Callaway Brands, which trades on the New York Stock Exchange under the symbol MODG, has seen its value steadily decrease since reaching a high of $36.92 per share in May 2021. On Aug. 30 it finished at a low of $9.94. On Wednesday it closed at $10.76 per share before the announcement was made.

In a release, John Lundgren, chairman of the board of directors of Topgolf Callaway Brands, said, “Today’s announcement is the result of a thorough strategic review conducted by the board of directors and the management team. The creation of two independent companies, each with a distinct focus and proven business model, is intended to drive continued momentum in both businesses and deliver value to all our shareholders.”

Callaway will consist of the golf equipment part of the business, along with Toptracer and lifestyle brands TravisMathew, OGIO and Jack Wolfskin.

Callaway Apex Ti Fusion, Apex Ai200 irons — Callaway’s Apex Ti Fusion and Apex Ai200 irons (David Dusek/Golfweek)

Topgolf will concentrate solely on its entertainment business, which includes more than 100 driving range-entertainment centers worldwide. Topgolf plans to reduce its new venue development for 2025 to a number in the mid-single digits, the release stated.

Brewer said on Wednesday, “We believe that separating Topgolf will best position both companies for success. Topgolf and Callaway have different operating models and capital needs, and this split allows each to maximize their potential.”

The company announced that it expects to spin off of the Topgolf business to Topgolf Callaway Brands’ shareholders in a transaction that is intended to be tax-free to both the company and its shareholders for U.S. federal income tax purposes. While the company expects that a spin-off of Topgolf into a stand-alone public company is the most likely separation path, the company will continue to evaluate other options for separation to maximize shareholder value.

The separation of the brands is expected to be completed in the second half of 2025.

Cabot expands to France with purchase of Golf Du Médoc Resort and two courses by familiar names

Cabot keeps growing with move into France.

Stick another pin in the global map for Cabot, the Canadian-based golf resort operator that in recent years has expanded to properties in Scotland, the Caribbean, the U.S. and soon to western Canada.

This week, Cabot co-founder and CEO Ben Cowan-Dewar will announce the company’s expansion to France with the purchase of Golf Du Médoc Resort in Bordeaux. The resort, home to two golf courses designed by Bill Coore and Rod Whitman, will be rebranded Cabot Bordeaux.

Those course designers’ names are extremely familiar to Cowan-Dewar, who employed Whitman then the team of Coore and Ben Crenshaw to build the 36 holes at Cabot Cape Breton in Nova Scotia. It was there the company got the off the ground with the introduction of Cabot Links in 2012 and Cabot Cliffs in 2015. Both those courses have achieved high acclaim with rankings among the best courses in the world – Cliffs is No. 11 on Golfweek’s Best ranking of courses outside the U.S., and Links ties for No. 43.

The Rod Whitman-designed Vignes Course at Golf Du Médoc Resort in France, which will be rebranded as Cabot Bordeaux (Courtesy of Cabot)

Cabot Cape Breton was not the first example of Whitman and Coore design layouts at the same site, however. Before partnering with Crenshaw, Coore opened the Chateaux (Castle) Course in 1989 at Golf Du Médoc Resort. Whitman’s Vignes (Vines) Course followed in 1991.

“Both courses are just really, really wonderful golf,” Cowan-Dewar said. “It’s just a beautiful, idyllic setting. …

“The courses are really quite even, so we’re pretty excited about that. People will debate, as they do in Cape Breton, over which is their favorite course. And that’s a mighty good problem for us. There’s nothing better than people finishing their trip and trying to decide which one they liked better when there is no obvious choice.”

The resort sits less than a half hour’s drive northwest of Bordeaux, considered the wine capital of the world and around which live some 1.4 million people. Not far inland from the Bay of Biscay, Bordeaux is some 320 miles south of Paris.

Cowan-Dewar said he had traveled to France several times but never the Bordeaux region until visiting Golf Du Médoc Resort last year. It was the golf that caught his attention.

“It’s entirely site specific,” he said when asked about the move into France. “I’ve long heard about it, and Rod and Bill would talk about it a fair bit. So you think how small a world it is, this is the only place in the world they worked side by side before Cabot. And with 36 holes of Ben and Rod’s work, it just seemed a little like fate, right?”

Cowan-Dewar explained that Golf Du Médoc Resort was founded by two French titans of industry, one of whom has passed away. The other turns 90 years old this year and is still friends with Coore and Whitman. The opportunity to take the reins at such a property was too great to pass up, Cowan-Dewar said.

“As you can imagine, with Bill and Rod the golf architecture was terrific, as was the entire destination,” he said. “I think the city, the destination and the region were all amazing.”

Cabot Bordeaux will include a preexisting 79-room hotel, an upscale restaurant showcasing regional cuisine and a world-class spa. Cowan-Dewar said additions to the 400-acre property might include the two- and four-bedroom style of cabins and cottages that have proved popular at other Cabot properties. The hotel was built in 2007 and was recently updated, and Cabot will undertake various projects to ensure the property remains fresh with updated location-specific activities and expanded amenities.

The courses will receive polishing as Cabot takes its cues from Coore and Whitman, with the work most likely focused on the typical updates needed for drainage and playing surfaces at any 35-year-old courses. The resort also has two driving ranges, one of which includes the Bernard Pascassio Training Center. Cowan-Dewar said one of the ranges will be converted to a par-3 course, a move that has become a staple at top resorts in recent years as players look for more golf than 18 holes a day.

“It’s almost impossible to have a property like that now without a par-3 course,” he said. “They’ve become such demand drivers that converting a driving range into a par-3 course seems like a win right off the bat.”

It’s all part of a rapid expansion for Cabot, which has gone from 36 full-size holes of golf to 90 in recent years, with another 54 on the books to open soon.

In 2022 Cabot purchased the Scottish Castle Stuart and its 18-hole links course designed by Gil Hanse and Mark Parsinen. That property was rebranded as Cabot Highlands with plans to add 18 new holes by Tom Doak next year.

The company then completed Cabot Saint Lucia’s Point Hardy Golf Club to great acclaim in 2023, including several of the most scenic golf holes in the world designed by Coore and Crenshaw on cliffs above the Atlantic Ocean.

Later in 2023 the first 18-hole course, named the Karoo and designed by Kyle Franz, opened at Cabot Citrus Farms in Florida, with another 18 slated to open this year. That property is a rethink of the sandy site’s former World Woods Golf Club, and it also includes two short courses.

Also in the works is Cabot Revelstoke in western Canada, with Whitman designing the mountainous 18-hole layout there.

“It’s a little overwhelming to think about, you know, but it’s very exciting,” Cowan-Dewar said of the expansions. “It’s all driven by the golf. We have found that if we focus on great golf, the rest just follows naturally.”

In the span of three years, Cabot will have gone from a famous but regional player to a worldwide force in the golf industry, and more additions to the brand are likely. Cabot Bordeaux will certainly add a French sophistication to the company’s newfound international flavor.

“Anyone playing Cabot Bordeaux is going to enjoy a distinctly French experience,” Coore said in a media release that will be released to announce the news. “Going from Cabot Cape Breton to Cabot Highlands to Cabot Saint Lucia to Cabot Bordeaux offers experiences that are as different and as varied as you could ever imagine.”

Tour Edge names Tim Clarke new president

“To say we are excited about Tim joining our team would be an understatement.”

Tour Edge has announced that effective August 5, Tim Clarke, the former president of Wilson Golf, will become the brand’s new president, overseeing worldwide golf sales, strategic planning and operational performance for Tour Edge.

Dave Glod is the founder, chief club designer and majority owner of Tour Edge. He is giving up his position as president and taking on the role as chief executive officer.

In a statement, Glod said, “To say we are excited about Tim joining our team would be an understatement. We’re getting one of golf’s most respected and well-liked leaders and putting all his talents and focus into our sales and marketing efforts. This is a total coup for us to get Tim and it should have a huge impact for us moving forward.”

If Clarke’s face looks familiar, you might recognize him from the Golf Channel series, “Driver vs. Driver,” which aired in 2016 and 2018.

Clarke started at Chicago-based Wilson in 1997, and after leaving in February 2023, he became the executive vice president of the golf division of Perry Ellis International. He managed the Original Penguin, Callaway (apparel), PGA TOUR, Nicklaus and Perry Ellis brands in the United States.

Clarke said, “I couldn’t be more excited to be joining the Tour Edge family and getting back to my roots in hard good sales and in the Chicagoland area.”

Tour Edge, which is based in Batavia, Illinois, a western suburb of Chicago, has positioned itself as a brand that tries to bring technology and value to golfers. It has found success in sponsoring Champions tour players like Bernhard Langer, Scott McCarron and Alex Cejka, and recently its television ads have featured former football and baseball star Bo Jackson.

Golf marketing firm Buffalo Groupe acquired by Florida-based ClubWorks

Buffalo Groupe has a wide-ranging list of clients across the golf and travel industries.

The wide-ranging marketing company Buffalo Groupe – which has a large client list in various parts of the golf industry – has been acquired by ClubWorks, a Florida-based company focused on the club, leisure and hospitality industries.

Based in Charleston, S.C., Buffalo Groupe will retain its identity as a wholly-owned subsidiary of ClubWorks. Kyle Ragsdale will remain as CEO, and Emily Clark was promoted to president and chief marketing officer of Buffalo Groupe. Both will join ClubWorks’ board of directors.

Buffalo Groupe was founded more than two decades ago and was spun out of Billy Casper Golf as Buffalo Agency in 2019 before being rebranded as Buffalo Groupe with clients in golf, travel and real estate. With a roster of some 100 employees nationwide, its clients have included the USGA, fitting company Club Champion, Casa de Campo resort in the Dominican Republic, Omni Hotels, Golf Channel and many others.

“Buffalo Groupe was founded on the premise that golf and other highly engaged ‘escape’ industries represent an incredible marketing vehicle,” Ragsdale said in a media release announcing the acquisition. “Our roster of clients and passionate team members have validated our strategy.”

ClubWorks was formed in 2022 as a professional services platform with subsidiaries that now include Peacock + Lewis, JBD JGA Design and Architecture, Private Club Films, Visionary Spectacle Studios and GGA Partners.

“Our portfolio of companies is purpose-built, assembling best-in-class firms with focused expertise to meet the diverse needs of club, leisure and hospitality businesses,” Michael Leemhuis, chairman and CEO of ClubWorks, said in the media release. “With the addition of Buffalo Groupe, we’re elevating our offering with industry-leading expertise in creative, digital marketing, events, public relations and research as a significant value-add to existing clients and prospects.”

PGA Tour taps Andy Wietz to serve as chief marketing and communications officer, VP of investor relations

PGA Tour hires veteran marketing, communications officer from Aon.

The PGA Tour announced Monday it has hired Andy Weitz to serve as chief marketing and communications officer and executive vice president of investor relations.

The investor relations portion of the role will focus on developing messaging and communicating strategy for PGA Tour Enterprises, the new for-profit subsidiary of PGA Tour, Inc. The group was formed this year when Strategic Sports Group made an initial investment of $1.5 billion in the new commercial venture that gives players an investor stake in the business.

Weitz spent the past decade working for Aon plc, most recently as chief marketing officer for the global professional services firm. Aon has built deep relationships in golf in recent years.

Read the full media release announcing Weitz’s hiring below:

PONTE VEDRA BEACH, Florida – The PGA Tour today announced that Andy Weitz has been named Chief Marketing & Communications Officer and Executive Vice President, Investor Relations, for the Tour’s global operations. In the role, Weitz will be responsible for positioning the PGA Tour brand for current and future investment while communicating its global strategy and performance to the Tour’s stakeholders and beyond.

“As our business continues to evolve and grow, Andy will be an invaluable addition to the PGA Tour given his experience as a trusted advisor to many of the world’s largest and most influential companies,” said PGA Tour Commissioner Jay Monahan. “With his track record of helping global companies tell their stories and engage their stakeholders, as well as his deep knowledge of the business community, Andy will be instrumental in further elevating the PGA Tour brand and helping our organization grow.”

In addition to overseeing marketing and communications for the PGA Tour, Weitz will take on a newly created investor relations role that is responsible for developing messaging and communicating strategy for PGA Tour Enterprises, a for-profit subsidiary of PGA Tour, Inc., incorporated earlier this year. In January, the Strategic Sports Group (SSG) made an initial investment of $1.5 billion – with up to $3 billion available – into the new commercial venture, and this funding will allow the PGA Tour to make significant strategic investments to enhance the PGA Tour experience for fans and players, and benefitting tournaments, sponsors and other constituents.

Through the PGA Tour Enterprises structure, the PGA Tour unveiled a Player Equity Program, a first in professional sports. PGA Tour players now have an investor stake in the Tour’s commercial growth, which creates alignment between the organization’s athletes and the strategic investments that will further grow the game and engage the next generation of fans.

“With the launch of PGA Tour Enterprises and the investment made by SSG, the PGA Tour’s business has grown significantly in value, opportunity and complexity,” said Joe Gorder, PGA Tour Enterprises Board Chairman. “This new role is important to the PGA Tour’s ability to successfully execute its strategy and deliver an engaging, satisfying future product for fans.”

“In our search, Andy’s experience and clear ability to use a mix of techniques to reach and engage everyone from Main Street consumers to Wall Street investors stood out,” said Ed Herlihy, PGA Tour Policy Board Chairman. “I am confident Andy will contribute enormously to the organization’s future success.”

Weitz comes to the PGA Tour following a decade at Aon plc, where he most recently served as Chief Marketing Officer for the global professional services firm. During his tenure at Aon, Weitz led the integration of the worldwide marketing and communications team and the unification of its global brand strategy, including a rationalization of its sponsorship portfolio, which included properties across Premier League football, Formula One racing, Major League Baseball, the National Football League and international rugby. While at Aon, Weitz was also responsible for leading the firm’s widely recognized brand building efforts, especially advancements in its use of digital strategies to engage the firm’s colleagues, clients and investors.

In 2019, Aon established an Official Marketing Partnership with the PGA Tour, beginning with the award-winning “Aon Risk Reward Challenge” that launched simultaneously on the LPGA Tour and was the first program to offer equal prize money to winners on the men’s and women’s tours. At that time, Aon also became a worldwide partner of the Ryder Cup and introduced the “Nicklaus/Jacklin Award presented by Aon,” which recognizes the player that best represents the spirit of each Ryder Cup competition. More recently, Aon evolved its PGA Tour relationship to include naming rights to the new eligibility paths for Signature Events, known as the Aon Next 10 and the Aon Swing 5, and transitioned the Aon Risk Reward Challenge into “Aon Better Decision Breakdowns” to emphasize the use of real-time data during in-telecast segments to analyze player decisions. In parallel, the firm has continued it successful Aon Risk Reward Challenge program with the LPGA.

“I’ve seen the power of the PGA Tour brand firsthand, as both a fan and a partner, and am truly excited to play a role in growing its global impact at this transformative moment,” Weitz said. “As the organization evolves, it’s critical that we stay focused on fan priorities, aligned with player interests and accountable to partner and investor expectations. I’m looking forward to listening to and learning from all our stakeholders.”

Prior to joining Aon in 2014, Weitz was U.S. President and Chief Executive Officer of Hill+Knowlton Strategies, a leading global strategic communications consultancy in the WPP portfolio. While there, he also served as Chief Operating Officer of the U.S. region and as Vice-Chair of the global Corporate Advisory Practice, which included the financial, internal, corporate communications and public affairs practices of the global firm.

Weitz holds a Bachelor of Arts from the Annenberg School for Communication at the University of Southern California and a Master of Business Administration from the Kellogg School of Management at Northwestern University.

Weitz and his family will relocate to Ponte Vedra Beach, Florida, this summer, and formally begin his work with the PGA Tour in mid-August.

The PGA Tour thanks its partners at Korn Ferry for the successful completion of this important executive search.

Report claims Callaway up for sale; company says it’s unaware of discussions

Topgolf Callaway Brands considers selling equipment-maker Callaway at a value of nearly $3 billion.

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Editor’s note: This story has been updated with a comment from Topgolf Callaway Brands Corp.

Topgolf Callaway Brands Corp. is considering selling its California-based Callaway Golf business, according to a report from South Korea’s Chosun Daily news outlet that was picked up by multiple sites including Bloomberg.

According to the reports, the golf equipment maker would be valued at nearly $3 billion. Topgolf Callaway Brands Corp.’s major shareholders – BlackRock Advisors LLC, Providence Equity Partners LLC and Thomas Dundon – have selected a lead manager to explore possible deals.

Topgolf Callaway Brands Corp., however, said later Wednesday that it was unaware of any such discussions.

“While it is our long-standing practice not to respond to market rumors and speculation, in light of today’s unusual market activity, coupled with a recent media report originating in Korea regarding discussions of a potential sale of the Company or its golf equipment business, we confirm that we are not aware of any such discussions,” the company wrote in an emailed comment. “We do not intend to comment further on this topic, and we assume no obligation to make any further announcement or disclosure should circumstances change.”

The New York Stock Exchange share price for Topgolf Callaway Brands Corp. surged more than 12 percent to more than $16 in the wake of the reports, as of noon Wednesday. That put the company’s market cap at $2.98 billion. That price slid to beneath $16 a share in afternoon trading. Topgolf Callaway Brands Corp.’s stock price had dropped from a 12-month high of $22.87 on April 21, 2023, to a low of $10.05 on November 10. In 2024, it has traded in the $13-$14 range

Reports indicate that the major shareholders want to spin off Topgolf, the entertainment brand with technology-boosted driving ranges and extensive food-and-beverage operations. Callaway Golf Co. closed a deal in March of 2021 to acquire the remainder of Topgolf Entertainment Group it didn’t already own, valuing the driving range chain at about $2 billion. The merger resulted in the name Topgolf Callaway Brands Corp.

Chip Brewer, Topgolf Callaway’s CEO, said during its Q4 2023 earnings conference call on February 13, “Topgolf’s track record for selecting and opening venues is extraordinary. They virtually all do well, and average opening results have exceeded our targets. …

“In addition, our venues are increasingly profitable over time with, what we believe, is a clear path to further upside. I’ll even add we have now shown we can do this in the face of same venue sales volatility. In short, the venues are achieving the return targets we communicated and are long, durable and appreciating assets.”

During the same call, Brewer predicted that Topgolf would have more than 30 million visitors to its facilities in 2024 before giving a strong report about Callaway’s club sales.

“Our U.S. dollar market share placed us as the number one club brand and the number two golf ball brand,” Brewer said. “In clubs alone, we were the number one in total clubs, drivers, fairway woods, hybrids and irons. ”

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Architect Brandon Johnson, formerly of Palmer Design, launches own golf course firm

Harvard-trained architect Brandon Johnson hangs out his own shingle with new design firm.

Golf course architect Brandon Johnson has made it official: After 17 years working for Arnold Palmer Design Company, he is hanging out his own shingle with today’s introduction of Brandon Johnson Golf Course Design.

The Harvard-educated Johnson joined Palmer Design in 2006 when that firm moved to Orlando. Johnson and Thad Layton were the design leads in recent years for Palmer, which wound down operations late in 2023. Layton announced the formation of his own firm in September.

Johnson has worked on several dozen courses around the world for Palmer involving everything from renovations to new courses.

“I’m excited, and as I’ve explained it to people, it feels like I’m graduating college again,” said Johnson, who interned for the PGA Tour as a course designer in the mid-1990s before taking a job out of college with The First Tee. “There are a lot of opportunities, and there’s a lot of excitement.”

Palmer Design built more than 300 courses in 37 states and 27 countries, including many listed on Golfweek’s Best ranking of top modern courses in the U.S. and the state-by-state rankings of public and private layouts. The company really took off in the 1980s and has been one of the most recognized brands in course architecture ever since. But business, especially in constructing new courses, slowed for the company following Palmer’s death in 2016. Layton and Johnson had mostly worked on renovations since.

Brandon Johnson led the renovation to Old Tabby Links in Okatie, S.C., which was originally created by Arnold Palmer Design Company. It was one of many jobs Johnson undertook as one of the lead designers for Palmer Design. (Jason Lusk/Golfweek)

“I’m a very seasoned professional, but you know, I’m still young in the business,” said the 50-year-old Johnson, a native of Charlotte, North Carolina who did his undergrad in design at North Carolina State before attending Harvard for graduate school. “I had a professor in my junior year that said it’s going to take you 25 years to master this profession of landscape architecture. I think that we’re always learning and we’re always growing, so now I have this incredible kind of background in my career that I’m able to apply to my own firm.”

Johnson is busy lining up jobs and plans several announcements of renovations and possibly new courses in the coming months. He intends to spend as much time as possible in the field working with course shapers – generally speaking, shapers are the highly skilled heavy equipment operators who turn an architect’s plans into reality.

“It’s interesting, in my early days at the Tour, Pete Dye had a lot of influence,” Johnson said. “He was almost always on-site, and there was always that mentality that even though we might be in the office some, how we thought about projects was the work being done in the field. Even in my time at Palmer, we certainly transitioned when Thad and I were running the company to be much more involved in the field through every step of the process. I think, for me, that’s the way I will be starting out on my own, and it’s always kind of been my mentality.”

Golf has boomed in recent years as more players took up the game during COVID, and there has been a greater interest in course architecture as well. Johnson said it’s a great time to strike out on his own.

“People are seeking out fun, new and interesting architecture,” he said. “To me, what fun means is golf is going to have a lot of variety, and it’s going to allow you to think and maybe execute a shot in several different ways. It’s drawing you in, and it’s going to make you want to get back on the golf course. I think of the feelings that I had as a kid and I just couldn’t wait to get to the golf course. …

“You hope you have the opportunities to show the golfing world what you can do as an architect, and I’m really excited about that opportunity and look forward to working with some really good clients on some unbelievable pieces of property, working with people who are equally as passionate and in love with this game as I am.”

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Cabot steps up as world player with opening of new courses at Citrus Farms, Saint Lucia

Cabot opens new courses in Florida and Saint Lucia, with more on the way.

Cabot effectively was a niche golf operator for much of its existence since the Canadian company opened its first course in 2012 on the remote shores of Cape Breton Island in Nova Scotia.

The original layout, Cabot Links, was exceptional, and it was followed a few years later by the even more highly ranked Cliffs course. More golf was added in 2020 in the form of a new short course, The Nest. The destination was a home run for company co-founder and CEO Ben Cowan-Dewar, who wisely put the emphasis on best-in-class golf at the Cape Breton property that was aided by the interest and investment of Bandon Dunes Golf Resort founder Mike Keiser.

But like Bandon Dunes, Cabot Cape Breton is a long way from most anywhere, and the Canadian golf season that far north runs just six months. While the Cabot brand represented the peak of modern Canadian golf, a world-class destination not to be missed by any seasoned golf traveler, for most of its existence the company wasn’t quite a major world player.

That has changed.

Cabot has grown up, and much of the globe is now its playground. By purchasing existing properties when promising and building from scratch when necessary, Cowan-Dewar has expanded Cabot’s operations south into the United States and across the Atlantic Ocean to Scotland. He has developed a focus on high-end accommodations, frequently manifesting in the form of aspirational real estate. And without defining how far he hopes to take the Cabot brand, he doesn’t plan to slow down.

The split-fairway, par-5 14th at Cabot Citrus Farms’ Karoo Course (Courtesy of Cabot/Matt Majka)

The growth has come fast and furious in recent years, most notably with the concurrent introduction of two courses in two different countries.

The built-from-scratch Point Hardy Golf Club – on one of the world’s most jaw-dropping pieces of golf land – opened to its members in December at Cabot Saint Lucia in the southern Caribbean. It soon will be followed in late January by the public-access Cabot Citrus Farms in Florida opening its first course, named Karoo, for preview play on the site of the former World Woods Golf Club.

https://www.instagram.com/reel/C0QeaX8uHrX/?utm_source=ig_web_button_share_sheet&igsh=MzRlODBiNWFlZA==

All that is on the heels of Cabot having purchased Castle Stuart in Scotland in June of 2022, rebranding it to Cabot Highlands and announcing plans to add a second course designed by Tom Doak slated to open fully in 2025. And don’t forget Cabot Revelstoke, a mountainous destination planned to come online in 2025 with a layout by Rod Whitman, who designed the original Cabot course at Cape Breton. Revelstoke is in Canada, but this development is on the opposite side of the continent in British Columbia. Both these properties also will feature residential opportunities.

All the sudden, Cabot has become a year-round operator with developments that span nine time zones. It is now a company on which the sun will never set during the long days of a Canadian summer.

“We’ve always got a lot of irons in the fire,” Cowan-Dewar said in December while he overlooked a tropical marina not far from Point Hardy, trying to relax for a few minutes during a casual interview the day before his private Saint Lucia property hosted its members’ first rounds. “Did I ever conceive it would play out just like this? Of course not. But we did have plans to grow.”

From left, Bill Coore, Ben Crenshaw, Mike Keiser and Ben Cowan-Dewar at Cabot Saint Lucia (Courtesy of Cabot/Jacob Sjöman)

The golf always came first for Cowan-Dewar, whose early ambitions drew the attention of a like-minded Keiser. The American developer serves as a sounding board for the Canadian, and from the beginning his advice has been to build great golf holes, then establish a business model around them.

That starts with the course architects. For Saint Lucia it would be the acclaimed team of Bill Coore and Ben Crenshaw, who also designed the Cliffs at Cabot Cape Breton, rated by Golfweek’s Best as the top modern course in Canada. At Cabot Citrus Farms just north of Tampa, Cowan-Dewar selected the up-and-coming Kyle Franz for the Karoo course and is employing Franz alongside Mike Nuzzo and advisor Ran Morrissett for the second full-size 18 named The Roost, still in development and ambitiously slated to open for preview play in the spring of 2024.

Then it’s just a matter of giving the architects enough latitude to create something special on beautiful pieces of land ideally suited for golf.

“We’re hiring some of the greatest people to ever practice their craft,” Cowan-Dewar said. “How many times in your life do you get to work with some of the greatest artists at a moment in time when they are the best? And we’re lucky to do that. So we want to give them the biggest canvas possible with no limitations. Trust in the architects, and we can figure out the rest around that.”

That trust has led to two very different golf courses in Point Hardy and the Karoo at Cabot Citrus Farms.

Are players finally pushing back on rising green fees? This California golf mecca might be an indicator

“Last year we could have quoted a million dollars and they just said please send me the contract.”

PALM SPRINGS, Calif. — The pandemic-spurred surge in golf over the last three years is bound to end at some point, but Ben Rodny believes it won’t end this coming golf season in the Coachella Valley.

“We’ve built our budget for this year and we are planning our business plan for next year on the expectations that things are going to continue to grow,” said Rodny, the director of sales and marketing at the Indian Wells Golf Resort.

From rounds played across the country to the number of golfers to the group sales business that resorts like the Indian Wells Golf Resort is seeing, golf has been a major beneficiary of the COVID-19 pandemic that shut down numerous activities including other sports.

The pandemic sparked a turnaround in golf, which had seen rounds played and the number of golfers dwindle for more than a decade. But the pandemic seemed to drive people outside to an activity that was allowed in most areas of the country. Twenty percent increases of rounds played were reported in 2020 and 2021, with smaller gains in 2022.

So far in 2023, the National Golf Foundation reports a 3.8 percent increase in rounds played through the end of September. But in the Palm Springs area, year-to-date rounds for 2023 are down 2.9 percent, a result of lost rounds because of weather such as August’s Tropical Storm Hilary, which shut down some courses for weeks with flood damage. In September, though, the NGF reported a 6.4 percent increase in Palm Springs area golf over the same month in 2022.

For many in the golf industry in the Coachella Valley, there are some signs that the surge, while not reversing, might be at least slowing down.

“We are planning for it to level,” said Kurt Burmeister, general manager of La Quinta Country Club. “We are seeing growth, but it’s not as aggressive growth as we have seen the last three years. But the signs for the season are similar to what we have seen the last three years.”

Even at the 36-hole Indian Wells Golf Resort, where rounds played were well over 400 a day in the 2022-23 season, Rodny says he is starting to see a few signs of a throttling back of the game’s growth.

“What I am noticing, particularly on the group side of the business, golf tournaments, smaller outings, is that there is some pushback on rates that is starting to happen that we did not see last year,” Rodny said. “Last year we could have quoted a million dollars and they just said please send me the contract. Now there is a bit of pushback and we are hearing it from our clients who are trying to organize a high-level event, either with us or with one of the other top players in the Coachella Valley.”

A winding golf cart at Indian Wells Golf Resort (Jay Calderon/The Desert Sun)

Prices still going up?

Like many courses around the desert, the Indian Wells Golf Resort uses dynamic pricing during the season, which means green fees drop during periods of lower demand but rise during peak demand like Fridays and Saturdays in January and February. In the 2022-23 season the top fee was $299 per round, and Rodny sees that going higher in the coming months.

“Our base price is set between $249 and $259. So I actually do anticipate us breaking the $300 price this season in January and February. By how much I can’t tell you,” Rodny said.

Golfers congregate on the putting green before heading out for a round at Ironwood Country Club in Palm Desert, Calif., Saturday, Nov. 18, 2023.
Some golfers say they are having to adjust their plans as prices continue to increase.

“I have friends who come down for a week or 10 days in February, and they are already changing their plans,” said Fred Barnett of Palm Desert. “They may come down for the same number of days but not play golf as much because the prices keep going up. And it’s not just the golf. It’s the hotels, too.”

Golfweek’s Best: Top public and private courses in California

Barnett said his friends are willing to pay $150 or so for a round, but that price is getting more difficult to find in the peak season in the desert.

“Four rounds at $150 each is $600, and you can pay for a couple of nights in a hotel by skipping one round of golf,” Barnett said.

“I just can’t afford to play as much these days,” said Barbara Garcia of Indio. “It’s not just that golf is more expensive. Everything is more expensive: gas, food, everything. Something has to get cut back, and for me that is golf.”

“The higher profile courses are at $300 a round, the lower profile courses are at $175 a round,” Rodny said. “But the thing that is really keeping the golf resort in play is the fact that the hotels are incredibly full with group business.”

At La Quinta Country Club, where the amount of membership play is more important than guest fees for the course, Burmeister said the club’s response to increased play and waiting lists for membership has been to eliminate activities that aren’t specifically for members.

“We have become much more member-focused. We’ve done a lot of outside business through the years, (The American Express PGA Tour event) being an example of that,” Burmeister said. “And we are fully committed to that. But we’re doing less wedding business. We have committed to that plan as well. So certainly from an operation standpoint, we have become more member-focused, which in essence may increase dues over time, but it is more about member services right now.”

Burmeister also said increased revenue from the increase in play in the last three years has allowed La Quinta Country Club to make some long-term plans.

“We have already set our project for next year, which is a new irrigation system,” Burmeister said. “That has already been funded. We already know that.”

While the surge may have slowed in the desert, Rodny knows that the cycle for the game might end. But he also doesn’t know when that will be.

“The wave has to crash eventually,” Rodny said. “And then rise again.”

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ANWA host club Champions Retreat being sold to Texas-based Arcis Golf

Arcis Golf expands on its portfolio of nearly 70 clubs around the country.

Champions Retreat in Evans, Georgia – the host club for the first two rounds of the Augusta National Women’s Amateur each year – is being sold to Dallas-based Arcis Golf.

Terms of the deal, slated to close Friday, have not been released. News of the impending sale was emailed to Champions Retreat members, as first reported in the Augusta Press. The impending sale was confirmed independently by Golfweek, although an official statement has not been released to news organizations.

The private Champions Retreat near Augusta consists of three nine-hole courses designed by Arnold Palmer, Jack Nicklaus and Gary Player. The ANWA is played each April on Palmer’s The Island nine and Nicklaus’ The Bluffs nine before moving to Augusta National Golf Club for the final round the Saturday before the Masters begins. The club also features oversized and luxurious cabins with a top-notch food and beverage program. The club has opened its gates to guests during Masters weeks in recent years.

Champions Retreat was founded in 2005. Its reputation began to take off in 2014 when it was purchased by Bill Forrest, founder of the Connecticut-based private equity firm Tower Three Partners.

Arcis Golf, founded in 2013, owns or operates nearly 70 private, resort and daily-fee clubs around the United States. Its properties include TPC River’s Bend in Ohio, Cowboys Golf Club in Dallas, Grayhawk Golf Club in Arizona and Tijeras Creek Golf Club in California. Atairos, an independent private company focused on supporting growth-oriented businesses, acquired a substantial ownership position in Arcis in 2020. Fortress Investment Group LLC also maintains a significant ownership stake in Arcis.