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Doral Resort May Have New Owner


Various business publications are indicating that the Doral Golf Resort and Spa may have a new owner. The Wall Street Journal reports that the current owners, a group led by Paulson & Co. and Winthrop Realty Trust, said in court filings late last week that it has a tentative buyer willing to pay $170 million for the facility near Miami, Fla.

The current ownership group is a joint venture which took control of eight resorts, including Doral, through a foreclosure in early 2011. Doral filed for bankruptcy protection and was put up for sale.

The resort includes five golf courses, but the White Course, according to reports, would not be part of the transaction.

However, the famed Blue Monster - now called TPC Blue Monster at Doral, along with the Red, Gold and the recently opened McLean courses would be part of the deal. The TPC Blue Monster hosts the PGA Tour's annual WGC-Cadillac Championship in mid-March. Further details are pending.