Global Edition

 

St. Andrews Old Course Hotel is sold

1.00pm 4th October 2004 - Property

The directors of Swilken Holdings announced today the acquisition of the famous Old Course Hotel, Golf Resort and Spa in St. Andrews. The purchase price was not disclosed but reports suggest that it was in the region of £35 million.
The iconic 134 bedroom five star hotel, overlooking the most famous golf course in the world, was bought last Friday by a consortium of Kohler Company and Swilken Holdings. It was previously owned by Kosaido Corporation, a Japanese based company. Kohler Company; a US based international business, is not new to golf, being the owner of Whistling Straits, host to this year’s USPGA tournament.
Swilken Holdings, an investment vehicle that facilitates deals in the golf and hotel businesses, introduced the opportunity to the owner of Kohler Company, Mr Herbert Kohler, and thereafter assisted the deal through to its completion.
Swilken’s MD, Ken James, formerly of Lehman Brothers in New York, said, “This transaction utilised all of our divergent skills from deal origination all the way through to debt and equity financing and has culminated in an extremely exciting development for St. Andrews and the golf industry in general.”
Richard Wax, Swilken Holdings‘ golf project director, is once again delighted to contribute his golf expertise to the Home of Golf. He was previously involved in the creation of the Kingsbarns Golf Links, selecting Kyle Phillips to design what has become recognised as one of the ‘must play‘ golf courses in the world. Richard has been golf adviser to the developers of The Grove since the outset and this superb north London Home Counties based development also announced today that from 2006 onwards it will host The Amex World Golf Championship.
Swilken Holdings is currently working on similar major golf resort projects in association with its golf marketing advisors, Business Golf Corporation Limited, and expects to make a further announcement early in the New Year.
The Old Course Hotel www.oldcoursehotel.co.uk

       

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