US firm buys The Belfry

06 August 2012 | Posted in Sports Properties, Golf, Europe | By Michael Long

American private equity firm KSL Capital Partners LLC has signed a deal to acquire The Belfry, one of the UK’s best known golf resorts.

While financial terms remain officially undisclosed, The Independent newspaper reports the deal to be worth UK£70 million, which, if true, would represent a significant loss for Sean Quinn Jr - the son of Irish former billionaire Sean Quinn - who paid UK£186 million for the Warwickshire course in 2005.

In addition to The Brabazon, the golf course that has staged The Ryder Cup no less than four times, the 550-acre Belfry resort currently features seven food and beverage outlets, a 25,000-square-foot fitness center, a spa and 20,000 square feet of meeting space. It is also home to the PGA National Golf Academy and features two additional golf courses – PGA National, England’s only PGA branded golf course, and The Derby.

KSL, which has offices in Denver, Colorado and New York, says it plans to renovate the resort hotel ‘to enhance the overall guest experience’, with The Belfry set to ‘remain fully open during the renovation.’

The resort will be managed by a subsidiary of the De Vere Group, which owns and operates 62 venues throughout the United Kingdom. The Group previously owned and managed the resort prior to its sale in 2005.

“The Belfry has a proud heritage and is widely known as the ‘spiritual home of The Ryder Cup,’ and we are honored to be the next stewards of this great property,” said Richard Weissmann, a partner in KSL.

“Given KSL’s experience owning and operating large scale golf and spa resorts across the United States, The Belfry is the perfect opportunity for our first resort investment in Europe. We believe De Vere’s familiarity with today’s European travelers combined with our planned renovations will provide guests of The Belfry a new level of luxury, service and amenities.”

KSL counts several renowned sports properties among its portfolio of top travel and leisure properties, including Squaw Valley and Alpine Meadows, two of the leading ski resorts in North America.