Irish-based golf, leisure and tourism consultancy GreenScape has been involved in the industry for many years and believes that the golf industry is about to enter another period of expansion.
This expansion will be on a wide geographical scale. Developments are being and will be undertaken not just in the familiar locations of western Europe but also in countries that currently have a tourism industry and now realise the high spending potential of golfers, as well as in countries that have begun to develop their tourism industry and want golf related development to be an integral part of that, countries that now have free market economies and want a broader range of interests and facilities. Of course, the model of creating a residential community around golf and leisure facilities is one that continues to attract property developers as much as it attracts property purchasers.
The industry has matured. In the early 1990s, in many countries throughout Europe, golf related developments were being built without sufficient attention to location, standards, strategy or commercial realities. Some got into trouble and that is well documented.
Nowadays most projects are better planned in every sense of the word and the valuable contribution made by professional consultants in many disciplines is now realised. But developers, particularly those falling into the categories referred to above, still find it much more difficult to realise their development plans than they probably ever expected.
Following analysis and discussions with associates and colleagues in the industry, GreenScape has formed a partnership with a number of other businesses in the golf resort development arena, seeking the best ways to assist developers realise their projects, particularly in countries looking to establish or re-launch their tourism industries.
This partnership is now looking to participate in golf resort developments on a part fee part equity basis or a purely equity basis.
The partnership can provide expertise and a broad range of services, including golf course design and construction, marketing, management and consultancy in return for equity shares in the development. A limited amount of investment capital can also be provided in the right circumstances.
The partnership strongly believes that this approach to resort development will be of particular interest to landowners, development companies, investors, hotel groups and others who are seeking joint ventures for current or future projects, particularly in countries that fall into the development criteria described. The partnership is receptive to potential developments in both existing markets and new ones.
Roger Jones, principal of Roger Jones Golf Design and GreenScape, who heads up the partnership said, “We have been looking at this strategy for a long time now. A lot has changed geographically, economically and politically in recent years. Although this has provided many new opportunities for all of us involved in golf, leisure and tourism, we believe that a more pro-active approach is needed.
“In some countries, years after strategic plans were announced and even incentives offered by governments, these countries still don‘t have the facilities they would like. Other countries are going to encounter the same difficulties or maybe find it even harder.
There will always be fully funded high profile projects in every country and these are so important in setting the standards that other aspire to. I doubt that our strategy will appeal to this type of developer. On the other hand, at a lower level – the level at which the majority of new facilities will compete in the market – we can offer a service that can help developers minimise the funding requirements and at the same time maximize the commercial potential of any project and ensure that the very best standards are achieved with the resources available.
“We have not just become charity workers and we haven‘t found a bottomless pot of money. What we are doing is taking a longer-term view of the business. We are not expecting to become large scale golf resort owners but, as a group, we have a very strong pool of skills that we can put to good use working with, not just for, developers and developing ‘golf countries‘. In the future, I believe we can be seen as having been an important influence in the further progression of the golf, leisure and tourism industry in many countries”.
The benefits to developers are seen as:
The partnership will give proper consideration to all types of projects in all areas but will have to favour projects that can provide realizable equity growth for the partnership. GreenScape is inviting enquiries and project proposals, in confidence, from developers around the world.
GreenScape can be contacted by phone on Int. +353 87 6846044 or by email at email@example.com.
In each month and year listed below every article that has ever appeared in golfbusinessnews is reproduced in reverse date order.