2013-12-31 18:58:03 -
KING CITY, ONTARIO -- (Marketwired) -- 12/31/13 -- ClubLink Enterprises Limited (TSX: CLK) ("ClubLink") announced today that a wholly owned subsidiary has acquired TPC Eagle Trace in Coral Springs, Florida, giving ClubLink a total of 12 18-hole equivalent championship and two 18-hole equivalent academy courses in that state.
The purchase price was US$3.4 million. This cash transaction was facilitated by Steven Ekovich, Vice-President Investments of the National Golf and Resort Properties Group at Marcus & Millichap Real Estate Investment Services.
In the Fort Lauderdale area, in addition to TPC Eagle Trace, ClubLink owns the 54-hole Palm Aire Country Club, the 36-hole Woodlands Country Club and Heron Bay Golf Club. ClubLink made its initial foray into Florida in 2010, when it acquired five 18-hole equivalent championship courses and two 18-hole equivalent academy courses in Sun City Center, south of Tampa.
In total, ClubLink now owns or operates 53.5 18-hole championship and six 18-hole equivalent academy courses in Florida, Ontario and Quebec.
"The acquisition of this prestigious golf club demonstrates our commitment to providing our more than 20,000 members in Florida, Ontario and Quebec the opportunity to truly experience 'One Membership, More Golf,'" said ClubLink President and CEO Rai Sahi. "Since our founding in 1993, that has been our unique business model and one that continues to be very successful."
Opened in 1983 as the first member club in the PGA TOUR's Tournament Players Club network, TPC Eagle Trace is an Arthur Hills design. Home to the PGA TOUR's Honda Classic for nine years, TPC Eagle Trace is the centrepiece of a luxury gated community of approximately 900 homes.
ClubLink's unique membership model provides its members with reciprocal access to all ClubLink clubs in all regions. ClubLink's innovative TravelLink program offers three levels that allow members inter-regional access. The first level provides members inter-regional access to all clubhouses and courses at preferred pricing. Levels 2 and 3 are optional and provide members with greater inter-regional access for fixed annual fees.
ClubLink is engaged in golf club and resort operations under the trade-mark, "ClubLink One Membership More Golf." ClubLink is Canada's largest owner and operator of golf clubs with 53.5 18-hole equivalent championship and six 18-hole equivalent academy courses at 44 locations, primarily in Ontario, Quebec and Florida.
ClubLink is also engaged in rail, tourism and port operations based in Skagway, Alaska, which operates under the trade name "White Pass & Yukon Route." The railway stretches approximately 177 kilometres (110 miles) from Skagway, Alaska, through British Columbia to Whitehorse, Yukon. In addition, ClubLink operates three docks primarily for cruise ships.
ClubLink Enterprises Limited
Chief Financial Officer