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Started By
Message
re: Houston Golf Course news
Posted on 2/6/23 at 5:30 pm to DestrehanTiger
Posted on 2/6/23 at 5:30 pm to DestrehanTiger
I shot the best round of my life at Longwood NY chipping in 2 eagles.
It was great when it first opened.
Really hard to believe that course owners let their properties go into such disrepair.
It was great when it first opened.
Really hard to believe that course owners let their properties go into such disrepair.
0
Posted on 7/10/23 at 8:47 am to bopper50
Bopper
A friend told me this weekend that Southwyck Golf Club has been sold. He asked one of the cart guys and they confirmed. CBIGG owns/owned Southwyck, have you heard of any of the other courses being sold recently?
A friend told me this weekend that Southwyck Golf Club has been sold. He asked one of the cart guys and they confirmed. CBIGG owns/owned Southwyck, have you heard of any of the other courses being sold recently?
Posted on 7/10/23 at 12:29 pm to IH8ThreePutts
Interesting.
Reports from those in the know were CBIGG would not sell off the courses independently.
Reports from those in the know were CBIGG would not sell off the courses independently.
Posted on 7/10/23 at 12:34 pm to IH8ThreePutts
quote:
Southwyck
place looked like the Penn State LSU cap one bowl the last time i played it.
been years
Posted on 7/10/23 at 12:54 pm to Dire Wolf
Played it last year with a special rate... what a waste of $25.. lol
Posted on 7/10/23 at 2:03 pm to IH8ThreePutts
I haven't heard anything about a sale yet.
Will ask around this week .
Will ask around this week .
Posted on 7/10/23 at 2:55 pm to bopper50
I thought it was weird, but maybe it’s just bad info from someone reading an article about the company planning to sell all of its portfolio.
Posted on 7/10/23 at 6:21 pm to IH8ThreePutts
Letter from CBIGG today. Sounds liken no deal and they want more than anyone is willing to pay.
quote:
As you all know, late in 2022 the decision was made to try and sell the entire CBIGG portfolio of clubs and courses, with a goal to have this completed by the end of 2023. I know this situation has led to much speculation and some negative comments from Members as well as significant stress to our staffs. We’ve worked very hard to try to market these assets to various potential buyers, including golf management companies, private equity groups, and even smaller high net worth families. As of today, we have been unable to create a deal that works for our Shareholders although we have received multiple offers from all types of groups who are or have been interested. Some of these offers include the opportunity for CBIGG to remain in full control of the operations and leadership, while others would take over operations while retaining the on-site staff at the clubs. We simply have not been able to reach an agreement on the overall valuation of the portfolio and remain steadfast that breaking up the clubs and courses into individual sales is not one of our options.
As we pass the mid-year point, it looks like we can clearly state that no deal of any kind is likely to happen in 2023 regardless of how it’s structured. We will continue to have discussions with potential buyers while also pursuing other financing options, but we are not confident that in the near term we will be able to achieve a place where two parties can agree on the valuation of the deal. Therefore, to update you as to where we are currently focused and to clarify for you as our Members, this message is to state that our goal is to continue to operate our properties as we have for the past 9 plus years, focusing on maximizing the value for our Members and Guests, continuing to be Member-Centric in our approach at private clubs that create enjoyable and lasting experiences, and providing the absolute best course conditions and services we can at our public facilities. We will do this well into 2024, so our clubs, our Members and Guests, and our employee teams can have a clear direction going forward.
We are focused on continuing to own and operate these properties for the foreseeable future. We’ll be the owner/operator until the industry and potential buyers show additional interest and consider increasing their offers to a higher level that we could consider or accept for the betterment of all of our clubs and their Members, as well as our Shareholders.
Thank you for your support and for being such an important part of our CBIGG family.
This post was edited on 7/10/23 at 6:23 pm
Posted on 7/10/23 at 6:28 pm to TigerFred
I'm not sure how to take that letter.
Some of their courses need some real capital improvements and a lot of TLC like Pecan Grove.
Trying to maintain courses while listening to offers may mean they will do the bare minimum to keep the courses alive.
Some of their courses need some real capital improvements and a lot of TLC like Pecan Grove.
Trying to maintain courses while listening to offers may mean they will do the bare minimum to keep the courses alive.
Posted on 7/10/23 at 11:10 pm to bopper50
Word on the street is that existing members at Pecan Grove are trying to buy. Negotiations were hot a month or so ago but cooled down.
Posted on 7/15/23 at 7:40 pm to Cleathecat
I endured a round today at Southwyck… I asked the marshal if the course has been sold and he said that a deal was in the works but it fell through… he also mentioned that Southwyck hired a new greens keeper a few months ago, maybe that’s why the course is somewhat in better shape. Hopefully management keeps on spending money to improve the course.
Posted on 7/15/23 at 8:20 pm to Cleathecat
quote:
Word on the street is that existing members at Pecan Grove are trying to buy. Negotiations were hot a month or so ago but cooled down.
That's a tough road to go down. We went through that at Fort Bend.
Hard to get all those people on the same page.
Posted on 7/16/23 at 5:54 am to IH8ThreePutts
I haven’t played Southwyck in years, but to me their biggest problem was the land. Not sure if that used to be a corn field or what but the fairways were bumpy and hard as hell. Almost impossible to drive down. I hit my head a couple of times on the top of the cart. Not sure how you fix that without a complete overhaul.
I’m actually shocked they never just sold the land to a developer for something other than a golf course. I would imagine it’s hard to compete with the other two courses down the street that were always in much better shape and the same price.
I’m actually shocked they never just sold the land to a developer for something other than a golf course. I would imagine it’s hard to compete with the other two courses down the street that were always in much better shape and the same price.
Posted on 8/5/23 at 3:36 pm to BabyTac
Greatwoods greens are the best that they have been in 15 years, almost perfect.
Fairways are getting burnt because of the heat though.
Fairways are getting burnt because of the heat though.
Posted on 8/6/23 at 4:18 pm to bopper50
I concur as I was out there last week. Some of the tee boxes were too hard to push a tee into..
Posted on 8/6/23 at 4:29 pm to 18handicap
We need rain bad.
Posted on 8/7/23 at 7:21 am to bopper50
None expected in the next 2 weeks :sigh:
Posted on 8/7/23 at 10:06 am to bopper50
Played Southwyck this weekend, the drought is killing the course, some of the fairways are so dried out the huge cracks can swallow up a golf ball. We talked to the Marshall, he said that management was in the process of repairing two of the three broken main pumps. Hopefully they can get ahead of that, he also said they are getting new carts in October and will do some renovations to the “clubhouse” next year.
Posted on 8/13/23 at 10:47 am to classicgold
quote:
Cypress Lakes was trash for what they charged last time I played it.
Played yesterday and I can confirm this remains true. Fairways were all but gone. Same for the tee boxes. It looked like the cups hadn't been moved in a week.
Posted on 8/13/23 at 3:50 pm to Goldensammy
I played it two weeks ago and it was the worst shape I've ever seen a previously decent course. I understand that we've been in a drought, but it was as bad as can be. Yesterday, somebody informed me that their irrigation system broke. So, it's not like they are purposely not watering. It seems they can't do anything about it. I'm really glad I just went that day at 6 pm to play nine with my 1.5 year old in tow.
This post was edited on 8/13/23 at 3:52 pm
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