February 10, 2020
KSL Capital Acquires Heritage Golf Group
Names Industry Veteran Mark Burnett President and CEO
DENVER, CO – February 10, 2020: KSL Capital Partners, LLC (“KSL”), a leading investor in travel and leisure businesses, announced that an affiliate of KSL acquired Heritage Golf Group from Tower Three Partners, a private equity firm. The Heritage Golf Group portfolio includes three resort-style properties on Hilton Head Island in South Carolina (Port Royal Golf Club, Oyster Reef Golf Club, and Shipyard Golf Club), two championship TPC clubs in Sarasota and the greater Tampa Bay area in Florida (TPC Prestancia and TPC Tampa Bay), and a private country club in Richmond, Virginia (The Dominion Club). Mark Burnett, who has held previous leadership roles with other KSL portfolio companies, has been named President and CEO.
“The opportunity to acquire Heritage Golf aligns with our strategy of purchasing high-quality assets in the travel and leisure industry,” said Marty Newburger, a Partner with KSL. “With Mark’s strong leadership, we look forward to improving the member and customer experience at each of the clubs and growing the portfolio through strategic acquisitions with a strong focus on private country clubs.”
Burnett brings over 25 years of executive leadership in the golf industry, most recently as President and COO of ClubCorp. Previously, Burnett served as COO at American Golf Corporation, and President and CEO at KSL Fairways Golf Corporation.
“We are excited to welcome Heritage Golf and its outstanding management team and employees to the KSL portfolio,” said Burnett. “These lifestyle clubs are uniquely positioned and provide a wide range of benefits and outstanding experiences to the members and guests. This portfolio provides an excellent platform for future acquisition growth, and combined with KSL’s financial strength, will allow us to expand rapidly in the private club sector.”
Jeff Woolson, an executive vice president with CBRE who serves as the managing director of its Golf & Resort Group, handled the transaction.
About KSL Capital Partners
KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; Stamford, Connecticut; London, England and Singapore. Since 2005, KSL has raised approximately $12 billion of capital across both debt and equity funds. KSL's current portfolio includes some of the premier properties in travel and leisure. For more information, please visit www.kslcapital.com.
About Heritage Golf Group
Founded in 1999, Heritage Golf Group is an innovative, industry-leading hospitality company operating premier private, resort and daily fee golf properties spanning Florida, South Carolina and Virginia. Guided by the principle of evolving the golf business experience to the highest level, each individual club’s amenities and operational systems are tailored to augment its one-of-a-kind assets. For more information, please visit www.heritagegolfgroup.com.
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Maureen Richardson, River Communications
Office: + 1 914-686-5599