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Trump Acquires Doonbeg
Donald Trump's golf group announced on Tuesday that it had completed the purchase of the financially-troubled Doonbeg Golf Club in County Clare, Ireland.
In January, the 400-acre property bordering the Atlantic Ocean was put in receivership. At that time, the receivers, Luke Charleton and David Hughes of EY, said buyers were interested in acquiring the property, and were hopeful a sale could be consummated within a short period of time.
In stepped Trump, who paid an unspecified sum for the Greg Norman-designed golf course, which opened in 2002, and the neighboring Lodge at Doonbeg, a massive clubhouse with dining facilities, various amenities and overnight accommodations.
Doonbeg will be renamed "Trump International Golf Links Ireland," a similar moniker to the Trump International Golf Links, Scotland, a golf resort that opened with 18 holes in Aberdeenshire in 2012. Another 18-hole course is planned for the near future.
"I am thrilled to announce that we have purchased yet another incredible golf resort," said Trump in a statement. "From Trump National Doral, Miami, to Trump International Golf Links, Scotland, known as 'the greatest golf course in the world,' we only have the best.
"Doonbeg is an already terrific property that we will make even better. It will soon be an unparalleled resort destination with the highest standards of luxury."
Doonbeg is the 16th course in the growing Trump portfolio, and its lodge is the 12th hotel.
Earlier this month, Trump and his family unveiled the totally renovated Blue Monster course. After buying the former Doral Resort and its four courses - renaming the facility Trump National Doral Miami, the Trump Organization invested extensively in the Blue Monster remodel - overseen by architect Gil Hanse - along with major infrastructure improvements. Future upgrades are planned for the Gold and Red layouts, which will also overseen by Hanse.
Doonbeg was developed by the former owners of Kiawah Island in South Carolina, site of the 1991 Ryder Cup. Problems arose between the original owners, Kiawah Partners - cousins Charles "Buddy" Darby and Leonard Long, resulting in the sale of Doonbeg and the company's entire portfolio, which includes Kiawah Island, to South Street Partners. The original developers invested more than €67m in the project.
When South Street Partners acquired the property, the company announced it would be "evaluating" its overseas holdings. In its 11 years of operation, Doonbeg Golf Club never recorded a profit. During its high season the resort has a staff of 245 workers. The site has permits 61 holiday properties, according to reports.
There were no changes in the operations of the facility, which remained open during the legal process and subsequent ownership change.