PGA National Resort and Spa is a world-renowned luxury resort located in Palm Beach Gardens, Florida. The resort boasts of five golf courses, nine restaurants, a full-service spa, a tennis center, and luxurious accommodations.
But who owns this prestigious property? Let’s find out.
History of PGA National Resort and Spa
The PGA National Resort and Spa was originally built-in 1981 by E. Llwyd Ecclestone Jr., a real estate developer from Palm Beach Gardens. The resort was initially managed by Sheraton Hotels and Resorts until 1989 when it was purchased by the Professional Golfers’ Association of America (PGA). The PGA then invested $42 million in renovations to upgrade the resort’s facilities.
Current Owner
In 2006, the PGA sold the resort to the Walton Street Capital, a private equity firm based in Chicago. Walton Street Capital paid $170 million to acquire the property in what was then one of the largest hotel transactions in Florida’s history.
Details about Walton Street Capital
Walton Street Capital is a leading real estate investment firm that specializes in acquiring and managing commercial properties such as hotels, office buildings, retail centers, and apartments. Since its inception in 1995, Walton Street Capital has invested over $12 billion in various real estate projects across North America, Europe, and Asia.
PGA’s Involvement with the Resort
Even though Walton Street Capital owns PGA National Resort and Spa now, the PGA still maintains a strong connection with the property. The resort continues to host some of the most prominent golf tournaments such as The Honda Classic on its courses every year.
Furthermore, many of the rooms at the resort are decorated with golf memorabilia that highlights some of the significant moments from past tournaments held at this venue. There is even an annual ‘Legends of Golf’ event held at the resort, which brings together some of the top golfing legends from around the world.
Conclusion
In conclusion, Walton Street Capital is the current owner of PGA National Resort and Spa. However, the resort’s rich history with professional golf will always remain a significant part of its identity. Whether you are a golf enthusiast or someone looking for a luxurious getaway, PGA National Resort and Spa is undoubtedly a place that should be on your bucket list.