PGA National Resort is a world-renowned golf resort located in Palm Beach Gardens, Florida. It has hosted numerous major golf events, including the Ryder Cup and the PGA Championship.
It is a popular destination for golf enthusiasts and tourists alike. But who owns this prestigious resort? Let’s take a closer look.
The Ownership History of PGA National Resort
PGA National Resort was initially developed by E. Llwyd Ecclestone Jr., a wealthy landowner in South Florida, in 1981. He sold the resort to RCA Corporation in 1985, which later sold it to the PGA of America in 1989.
After owning the resort for almost two decades, the PGA of America sold it to RREEF Property Trust, a real estate investment trust managed by Deutsche Bank, in 2006. RREEF renamed the property “The Palmer Course at PGA National” and invested millions of dollars into renovations and upgrades.
In 2012, RREEF sold The Palmer Course at PGA National to Walton Street Capital LLC for $170.6 million. Walton Street Capital LLC is a private equity real estate investment firm based in Chicago that specializes in acquiring and managing high-end properties like PGA National Resort.
Current Ownership of PGA National Resort
As of today, Walton Street Capital LLC still owns PGA National Resort. However, they have entered into an agreement with Noble House Hotels & Resorts to manage the property since 2018.
Noble House Hotels & Resorts is a luxury hotel management company based in Seattle that manages hotels and resorts across North America. They have been responsible for overseeing all aspects of managing and operating PGA National Resort since taking over from Troon Golf, who previously managed the property.
The Future of PGA National Resort
With its rich history and world-class amenities, it’s no wonder that there has been speculation about potential changes to PGA National Resort under its new ownership. While there have been no official announcements, rumors have circulated about the possibility of expanding the resort’s hotel facilities or even adding a water park.
Regardless of any future changes, one thing is certain – PGA National Resort will remain a top destination for golf enthusiasts and vacationers alike. Its reputation for excellence and its legendary courses will continue to draw visitors from around the world.
Conclusion
In summary, PGA National Resort has changed hands several times since its inception in 1981. Currently, Walton Street Capital LLC owns the property, but Noble House Hotels & Resorts manages it on their behalf. While there has been speculation about potential changes to the resort in the future, one thing is certain – PGA National Resort will continue to be a world-class destination for golfers and vacationers alike.