Pinehurst Resort is one of the most popular destinations in North Carolina, attracting tourists from all over the world. But have you ever wondered who the owner of this iconic resort is? In this article, we’ll explore the history of Pinehurst and its current ownership.
History of Pinehurst Resort
Pinehurst Resort was established in 1895 by James Walker Tufts, a wealthy businessman from Boston. Tufts purchased 5,500 acres of land in the Sandhills region of North Carolina with the intention of creating a health resort. He hired Frederick Law Olmsted, the architect behind New York City’s Central Park, to design the grounds.
The resort quickly became popular with wealthy northerners looking to escape harsh winters and enjoy outdoor activities like golf and tennis. Over the years, Pinehurst has hosted numerous US Open Championships and has become known as a premier golf destination.
Changes in Ownership
After Tufts’ death in 1902, his son Leonard took over as president of Pinehurst Resort. Leonard continued to expand and improve the resort until his death in 1955.
In 1970, Diamondhead Corporation purchased Pinehurst from Leonard Tufts’ estate for $6.2 million. The corporation invested heavily in the resort, adding new courses and amenities.
In 1984, ClubCorp acquired Pinehurst from Diamondhead for $22 million. Under ClubCorp’s ownership, Pinehurst continued to thrive as a top golf destination.
In 2014, Pinehurst underwent another change in ownership when it was sold to FelCor Lodging Trust for $119 million. FelCor is a real estate investment trust that owns hotels across the United States.
Current Ownership
In August 2017, FelCor Lodging Trust announced that it had agreed to merge with another real estate investment trust called RLJ Lodging Trust. The merger was completed in October 2017, and the combined company is now known as Xenia Hotels & Resorts.
Xenia Hotels & Resorts currently owns and operates Pinehurst Resort. The company has continued to invest in the resort, renovating rooms and adding new amenities to ensure that Pinehurst remains a top destination for golfers and vacationers alike.
Conclusion
Pinehurst Resort has a rich history and has undergone several changes in ownership over the years. Today, it is owned by Xenia Hotels & Resorts, a real estate investment trust that is committed to maintaining Pinehurst’s status as one of the top golf destinations in the world. Whether you’re a golfer or just looking for a relaxing getaway, Pinehurst Resort is definitely worth a visit.