Pair forms joint venture to acquire PGA West

Pair forms joint venture to acquire PGA West

Century Golf Partners and Hankuk Industry obtain nine-course portfolio in Southern California’s Coachella Valley.

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Century Golf Partners and Hankuk Industry, an owner of private clubs and golf courses in the U.S. and Japan, have formed a joint venture and acquired the PGA WEST Portfolio, which includes The Citrus Club, nine golf courses and five clubhouses located in La Quinta, California.
 
Century Golf Partners was founded in 2005 for the purpose of acquiring and managing private clubs, public courses and golf resorts and will be the managing partner of the joint venture. The PGA WEST Portfolio will be managed under its Arnold Palmer Golf Management brand. Century Golf owns and/or operates more than 45 courses throughout the U.S., including Walt Disney World Golf in Orlando. Hankuk Industry currently owns 25 golf courses, along with being a distributor of Baroness turf maintenance equipment and Yamaha golf carts in South Korea.
 
The acquisition of the Portfolio was finalized on Jan. 31, 2020 and includes two private clubs – PGA WEST Private Club and The Citrus Club – with golf courses designed by Arnold Palmer, Jack Nicklaus, Tom Weiskopf and Pete Dye. There are five resort courses open for public play, including the renowned Stadium Course designed by Pete Dye, the Tournament Course designed by Jack Nicklaus, the Greg Norman Course and the Mountain and Dunes Courses designed by Pete Dye.
 
The historic La Quinta Resort will remain with its current ownership and the PGA WEST Portfolio and La Quinta Resort will maintain a close working relationship so that each may continue to provide members and guests with exceptional service and facilities.
 
"Most people are drawn to PGA WEST because of the gorgeous desert setting, spectacular views and legendary golf experience. For us, it's a dream come true to be part of 'The Western Home of Golf in America,'" Century Golf founding partner and CEO Jim Hinckley said. 
 
"We are looking forward to working with the talented teams at PGA WEST and The Citrus Club to build on the rich history and deliver extraordinary experiences for all to enjoy," Century Golf partner and COO added Doug Howe added.