Century Golf and Korean company acquire PGA West

Century Golf Partners, in partnership with a South Korean firm, has purchased PGA West and The Citrus Club in La Quinta, Calif. The sale price was not disclosed. The deal places the nine courses in the sprawling PGA West complex and the Citrus Club under the management of Century’s Arnold Palmer Management brand. 

Century, which is directed by industry veteran Jim Hinckley, currently owns or operates more than 45 properties in the U.S. Its South Korean partner in the venture is Hankuk Industry, which owns 25 courses in the U.S. and Japan. 

PGA West courses include the famed Stadium Course designed by Pete Dye, along with other courses designed by Dye, Arnold Palmer, Jack Nicklaus, Tom Weiskopf and Greg Norman. Five of the courses are open for public play. 

Hinckley, a former ClubCorp CEO, formed Century Golf Partners in 2005 and later acquired Arnold Palmer Management. 

“Most people are drawn to PGA WEST because of the gorgeous desert setting, spectacular views and legendary golf experience,” said Hinckley. “For us, it’s a dream come true to be part of ‘The Western Home of Golf in America.’”

South Korean businessman Shin Il Yoo, who has been involved in the golf industry for 30 years, is owner of Hankuk. Among the properties in his portfolio are Marbella Country Club in San Juan Capistrano, Calif., and The Oregon Golf Club in West Linn, Ore. 

 It’s the second time PGA West has changed hands in the past two years. The New York-based private equity firm Blackstone Group purchased the club, along with the nearby La Quinta Resort, in 2018 from a Singapore government investment fund. The Singapore group had paid $1.5 billion for the properties in 2013. La Quinta Resort was not part of this latest deal. 

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