Deal for last 2 GTA courses reached

Golf Trust of America, a former real estate investment trust that once owned 47 golf courses in 17 states, has reached an agreement to sell the final two properties in its portfolio.

Under terms of the deal, expected to be finalized in late January, WildeWood Farms Country Club and The Country Club at Woodcreek Farms, will be purchased by the members for a reported $4.1 million. The two courses are located in Elgin, S.C.

GTA in July 2007 sold its largest property, the Innisbrook Resort in Palm Harbor, Fla., to Salamander Hospitality for an estimated $35 million.

Running Horse developer's death under investigation

Authorities in Fresno, Calif., are still investigating the death of one of the developers of the controversial Running Horse Golf Club project.

The body of Scott Webb, 46, was found in a Fresno-area motel in September. A spokesman for the Fresno County coroner said it did not appear that foul play was involved, though no cause of death was immediately released.

TaylorMade-adidas still faces buyout hurdles

A bid by TaylorMade-adidas Golf to purchase golf apparel maker Ashworth for $26.5 million in cash and assumption of  $46.3 million in debt still may run into roadblocks.

While the buyout  has the approval of  Ashworth's board of directors and by its largest shareholder, Knightspoint Partners of New York, which owns 16 percent of Ashworth stock, other shareholders may balk at the $1.90 per share purchase price, analysts said. The shares were trading as high as $3.75 per share two weeks prior to the Oct. 13 sale announcement.

Casper, East West, Troon sign management deals

Billy Casper Golf, East West Partners and Troon Golf all recently finalized new management deals.

The Longaberger Co. named Casper to manage its Longaberger Golf Club in Licking County, Ohio.

The public course, which was designed by Arthur Hills and opened in 1999 was ranked number 57 in Golf Magazine's Top 100 You Can Play list, and tabbed as the number one public course in Ohio in this year's Golf Digest rankings.

European environmental group changes name

A nonprofit organization founded to promote environmentally friendly practices within the golf industry has changed its name and updated its mission.

The Golf Environment Europe now is known as the Golf Environment Organisation (GEO).

After an in-depth review of the activities of the organization, officials decided that a new brand and revamped organizational structure would allow GEO to work more closely with other golf industry organizations to promote environmental sustainability.  

Tiger Woods unveils 3rd course design project

Tiger Woods and development partner The Flagship Group announced plans in October for Woods' third course design project.

Punta Brava, a private golf and ocean club on the Mexican coast near Ensenada, will be the first oceanfront design for the world's No. 1 player.

As an architect, Woods currently has two courses in the works, a mountain-top design for The Cliffs Communities near Asheville, N.C., and Al-Ruwayah Golf Club in the Tiger Woods Dubai development in the United Arab Emirates.

Morocco: Fairmont Hotels plans new Marrakech property

Fairmont Hotels & Resorts, the largest luxury hotel company in North America, announced plans to open a new property, the Fairmont Marrakech, in 2011.

Situated less than a mile from Medina in Parc de l'Agdal, the property will feature 13,000 square feet of banquet and meeting space, including a 4,300-square-foot ballroom.

A new golf course will be developed adjacent to the hotel, and with the famed Marrakech Royal Golf Club a short drive away, the destination has the potential to become an appealing golfing region.

Croatia: Three new courses included in project

Three golf courses are planned as part of a busy agenda in Croatia for developer Jupiter Adria. The new golf courses will be constructed in Istria County, with Jupiter Adria’s investment expected to be in the range of €300 million.
The company has also announced plans to build a new five-star hotel on Ugljani Island. The 58-room hotel, expected to open in the summer of 2010, will feature three conference rooms and cost €15 million to develop.

Jupiter Adria is also currently involved in the development of Cepljesi, a new tourist complex on Sipan Island.    


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