ClubCorp – Syndication Server

Troon to acquire Invited’s club-management division as part of strategic partnership

The management of 18 golf clubs will transfer to Troon as part of a strategic partnership.

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Troon and Invited, two of the world’s largest golf course operators, announced Saturday a strategic partnership in which Troon will acquire the management or consulting contracts of 18 clubs previously under Invited’s umbrella.

The Dallas-based Invited, which rebranded from the name ClubCorp last year, owns and operates more than 200 clubs and has more than 400,000 members. That doesn’t change.

It’s Invited’s Management Services business, which served as a third-party operator and consultant for the 18 clubs included in the deal, that switches hands to Troon. The Scottsdale, Arizona-based Troon specializes in third-party club management and hospitality, with more than 760 18-hole equivalent courses around the world under its banner.

Terms of the acquisition were not disclosed. Among these managed clubs is PGA National Resort in Florida – Invited managed the PGA National Members Club, the private country club element at PGA National Resort, longtime home to a PGA Tour event.

As part of the deal, Invited and Troon will introduce a program that allows Invited members to play participating Troon-managed resort and daily fee courses as well as Invited’s portfolio of more than 150 clubs and 200 courses. Members of the former Invited Club Management facilities will continue to enjoy Invited’s XLife benefits, playing a network of hundreds of private clubs and renowned resorts.

The management teams and all employees of the clubs to be managed by Troon will retain their roles in the new arrangement, the companies said in a media release announcing the news. Invited senior vice president Seth Churi and regional vice president Peter Faraone will move to similar positions within Troon, continuing to support operations at the 18 clubs with the backing of Troon’s resources.

“We are excited to welcome these outstanding clubs, their members, management teams and associates to the Troon family,” Troon president and CEO Tim Schantz said in the media release. “We have long respected Invited’s contributions to our industry. This relationship creates new opportunities for each organization and perfectly aligns with our respective missions and focus.”

Troon and Invited said in the media release they have planned additional collaboration to leverage their mutual expertise.

“We are thrilled to embark on this historic relationship with Troon. By working together and pooling together our strengths, we can become even more dynamic in providing resources and infrastructure to our members and clubs,” David Pillsbury, CEO of Invited and the former president of the PGA Tour’s TPC network of clubs, said in the media release.

In 2017, Invited was purchased and taken private by Apollo Global Management in a deal valued at $2.2 billion. TPG Capital is a major investor in Troon. Each company also has PGA Tour golfers involved, with Jordan Spieth as an investor and ambassador for Invited, while Rory McIlroy is an investor in Troon.

Troon has not shied away from large acquisitions in the past 16 years, having purchased 13 companies since 2007.

The full media release is posted below, including the names of the clubs involved:

A planned golf entertainment center in a Florida golf hotbed has been halted — is this a sign?

“The world has changed significantly from the time we initially evaluated the opportunity,” a senior VP said.

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NAPLES, Florida — Golf entertainment center BigShots Golf was set to open in this town next year but now company officials have pulled out of their previous agreement with Collier County.

In late April, BigShots Golf Senior Vice President Randall Cousins stood in front of the Board of Collier County Commissioners and explained how the company had faced issues while financing the project. The board voted to give BigShots a 60-day extension to finish its budget and plans.

BigShots Chief Legal Officer Emily Decker emailed county officials on June 19 saying BigShots was terminating its land lease.

“There’s no one in the room that’s more disappointed than I am that BigShots canceled their lease,” Commissioner Burt Saunders said during Tuesday’s Collier County Commission meeting. “None of us could have foreseen that.”

Why did BigShots terminate its lease?

“The world has changed significantly from the time we initially evaluated the opportunity,” BigShots Golf Senior Vice President Randall Cousins said. “Today, we face increased costs in every major category, including financing, construction, and operations. In the past several months, we’ve explored many options to mitigate these challenges and invested several million dollars of sunk cost into development and materials. Unfortunately, we did not find a sustainable solution.”

Saunders said BigShots terminated its lease because the company was unable to finish financing the project within the allotted time.

“Quite frankly, the folks at Club Corp and BigShots really just weren’t communicating with us,” Saunders said. “They weren’t really honest with us as to what was really going on. As late as April they were in here talking about financing and we all knew that that was probably not the case.”

The commissioners gave the company six extensions but BigShots was unable to finish budgeting and planning by June.

“These challenges are not exclusive to Collier County, and we are thankful for the patience and support we’ve received from Commissioner Saunders as we evaluated and exhausted our options,” Cousins said.

What was BigShots going to offer?

BigShots was planning on opening an outdoor 12-hole golf course, virtual driving range, and restaurant next year in Collier County.

The driving range would have been two stories and offered feedback for golfers based on data from their swings.

The restaurant was going to be on-site with an option to have food delivered to the driving range.

How will First Tee be affected?

First Tee, a golf program for youth, was set to meet at the BigShots facility once it opened. Saunders assured that First Tee would still have a place to meet as he proposed the county still build a 12-hole golf course and clubhouse on the land. Saunders said he had already spoken with two developers about the project.

“They can do a golf course, that’s not a problem,” Saunders said. “They can do a driving range. Most importantly, they can provide the facilities needed for First Tee, and a little practice green and a little clubhouse and a restaurant. All of that can still go on this property. And quite frankly, that is the best use of that property for our community,” Saunders said.

Commissioner William McDaniel did not support the idea to build the golf course.

“I am totally in support of bringing the property forward [and] offering it up to a developer for a public golf course with a reduced rate for our residents,” McDaniel said. “But before we make a commitment on the expenditure of that $7 million right now, I would prefer we set that aside.”

He raised concern about the cost of the golf course when the county already has financial commitments to other projects.

Commissioner Rick LoCastro expressed support for the golf course, saying the project would benefit both the community and the county.

The motion to build the golf course passed 4-1, with McDaniel voting against it.

What’s happening with the land BigShots leased?

Originally BigShots was set to build its facility on 18 acres of land at the northeast corner of Golden Gate Parkway and Collier Boulevard. A state nursing home for veterans was going to be built on 11.7 acres at the northwest corner.

The board voted on Tuesday to switch the projects’ land. Now, the state nursing home will be built on 18 acres whereas the golf course amenities will be built on the 11.7 acres.

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Massive course owner and operator ClubCorp announces company rebrand to Invited

“Invited is not just a name. It’s everything we are,” said Invited CEO David Pillsbury.

What’s in a name? ClubCorp thinks plenty.

Officials with the 65-year-old privately held lifestyle and hospitality company Friday announced a rebrand rolling out in the coming months with the name and fundamental belief that everyone is “Invited.”

The Dallas-based company includes a portfolio of 161 owned and operated golf and country clubs featuring 205 golf courses and more than 1,000 tennis and pickleball courts nationwide; 32 city and sports clubs; seven stadium clubs inside prominent college football stadiums; and six Big Shots locations around the country delivering a tech-driven entertainment and culinary experience.

“Invited is not just a name. It’s everything we are,” Invited CEO David Pillsbury said in a press release. “We are Invited because, from the golf courses to the tennis courts, from fine dining to family hang time, we connect and create communities attracting members from diverse backgrounds that share similar passions and pursuits. We create clubs and experiences that combine exceptional amenities and unmatched service with a friendly and welcoming spirit. We want our members, guests and team members to know that Invited is where they belong.”

Mission Hills Country Club in Rancho Mirage, California. (Courtesy of ClubCorp)

It’s an interesting move as the name ClubCorp held plenty of brand equity as the largest owner and operator of private golf and country clubs in the country, generically describing the business the company is in but failing to reflect the spirit of who company officials said they are and where they believe can go. The new name and brand speak to creating places where people are warmly welcomed and encouraged to enjoy each other’s company, and fit the modern, inclusive vision on display in the numerous programs that ClubCorp has instituted focused on bringing more women, girls and minorities to their clubs and into the game. These programs reflect this brand shift, the company said.

“Our clubs are the ultimate third place and play an integral role in the lives of our members. We are the place where they play, celebrate and build lifelong friendships,” Pillsbury said. “Invited, as a brand identity, reflects that connection and emotion of who we are, our dedication to our clubs and members and where we are headed as a company. We relearned the value of human connection during the pandemic and this new identity of an open invitation that brings people together and reflects those connections.”

The Dallas Morning News reported that the rebranding comes as the company’s owner, Apollo Global Management, is reportedly eyeing a deal to take the company public again as early as this year. Apollo paid a 31-percent premium (around $1.1 billion for the company) on then-ClubCorp’s stock price in 2017 to take the company private. Insiders estimate it could now be valued at about $4.5 billion in an IPO.

The Woodlands Country Club in The Woodlands, Texas (Courtesy of Invited)

The rebranding announcement was made as the ClubCorp Classic, a new event on PGA Tour Champions, gets underway Friday near Dallas, and the new name will be trumpeted there this weekend. The tournament will be renamed the Invited Celebrity Classic next year.