An affiliate of KSL Capital Partners (KSL), an investor in travel and leisure businesses, has acquired Heritage Golf Group from private equity firm Tower Three Partners. 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,” says 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.
