When the companies announced the deal in October, they said that the acquisition would close immediately after ClubCorp closed on the sale of Pinehurst Resort in North Carolina, which is being sold to the Robert Dedman family. KSL managing director Michael Shannon said at the time that the acquisition of ClubCorp would provide "a significant platform for our entry into the membership side of the leisure business."

Among ClubCorp's nationally recognized resort and golf properties are BartonCreek Resort & Spa in Austin; the Homestead in Hot Springs, VA; Firestone Country Club in Akron, OH and the Mission Hills Country Club in Rancho Mirage, CA. The company's golf courses include a number that have been the venues for some of the top championship tournaments in men's and women's golf.

ClubCorp's more than 60 business clubs and business and sports clubs include the BostonCollege Club, City Club on Bunker Hill in Los Angeles, Columbia Tower Club in Seattle, Metropolitan Club in Chicago and the City Club of Washington, DC. KSL Capital Partners specializes in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services.

ClubCorp was founded in 1957 and by 2005 had grown to $1.04 billion in annual revenue.

In connection with the KSL-ClubCorp deal, KSL Resorts, an independent management company, will manage the Homestead and Barton Creek Resort & Spa for ClubCorp.

Instant Insights /

KSL Closes $2B ClubCorp Acquisition

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