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Business Observer Tuesday, Oct. 6, 2015 5 years ago

Investors commit $150M to golf

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A group of private investors led by Coral Hospitality plans to spend $150 million to buy golf courses from Tampa to Naples.

NAPLES — Coral Hospitality is leading a group of private investors who plan to spend $150 million to buy golf courses from Tampa to Naples.

One of those acquisitions is Rosedale Golf and Country Club in east Manatee County, and Naples-based Coral says it has several other undisclosed acquisitions underway. Terms of the Rosedale deal were not disclosed.

“We are thrilled to add Rosedale to our expanding roster of top-rated golf clubs and courses,” says Lee Weeks, CEO of Coral Hospitality, in a statement. “We look forward to continuing to deliver the top-notch service and experience Rosedale is known for, while leveraging our diverse hospitality experience in ways that enhance the club's offerings even further.”

Coral Hospitality provides management and investment services for hotels, country clubs and homeowners associations. “The golf course and club management side of our business continues to show tremendous opportunities for growth and we are immensely excited about where the future will take us,” says Weeks.

Rosedale is a par-72 course with a 22,000-square-foot clubhouse. Rosedale also features a large outdoor patio, a junior Olympic-size swimming pool, five lighted tennis courts and a fitness center.

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