Las Colinas Country Club is located in Irving, Texas, under the invitees umbrella. Las Colinas Country Club
wApollo Global Management acquired ClubCorp in 2017, paying out $2.2 billion, half of that total being debt. One investment firm described the heavily leveraged “world leader in private clubs” for 60 years this way:
As ClubCorp grew, so did golf. Participation in golf, golf tours, and sales of golf equipment have declined over the past decade, while the average golfer’s lifespan has risen. Although these demographic pressures strain the entire industry, ClubCorp suffers more from the nature of its competition: not-for-profit, member-owned clubs that do not strive to maximize profits but simply to provide a good experience. … Our model values ClubCorp equity at $2.75 per share, 80% less than the current price. … To the long stock holders: IMMEDIATELY!
Fast forward to 2023.
ClubCorp, with 2…