Golf Canada sells Calgary Golf Centre to Golfuture YYC
Calgary, Alta. – Golf Canada has announced that it has transferred the property lease and sold the operation and assets of the Golf Canada Calgary Golf Centre to Golfuture YYC.
With their purchase of the facility, Golfuture YYC will license the Golf Canada name and intellectual property on a short-term basis, continuing to operate all facets of the operation with future plans to enhance the facility. All existing staff at the Calgary Golf Centre will remain with the operation under new employment or contract with Golfuture YYC.
Golf Canada’s decision to divest the Calgary Centre from its asset portfolio followed an annual review of the facility for alignment within Golf Canada’s strategic plan.
“Our facility strategy has evolved significantly since the original acquisition of the lease in 2002 and despite strong year over year financial yields, it was clear that owning and operating the Calgary Golf Centre was no longer a strategic fit for the organization moving forward,” said Golf Canada CEO Laurence Applebaum. “Golfuture YYC has an exciting vision for the continued expansion of the facility as a meaningful hub for accessible golf in the city and we look forward to seeing the property continue to evolve with their strong local ownership.”
Golf Canada originally acquired the lease and operations of the Golf Canada Calgary Centre in 2002. A popular destination for golf activity in the city, the Calgary Golf Centre was a hub for junior, recreational and high-performance golf in Alberta, being certified as one of the inaugural National Junior Golf Development Centres. The facility also contributed to the growth of the Golf Canada brand in one of the country’s major markets.
The year-round Calgary Golf Centre located in the heart of the city is one of the city’s most utilized practice facilities. Situated adjacent to the Bow River on 42 acres of leased land, the facility features a double-ended two-tier heated driving range (54 hitting stalls) for all-season use; a par-3, 9-hole golf course; a miniature putting course; robust junior golf programming; a clubhouse and pro shop with entertainment facilities; all-season golf simulators; a custom fitting operation (leased to tenant Ted & Dave Custom Golf); and a training academy with six certified PGA of Canada professionals.
In addition to present operations, Golfuture YYC will upgrade some of the existing infrastructure to explore its new golf concept. The Golfuture concept combines modern radar tracking technology with innovative driving range design to emulate the experience of playing a traditional golf course, including full swing shots and putting.
“We are excited to carry on the business of Golf Canada Calgary Centre while adding the innovation and excitement of Golfuture” said Golfuture YYC President Art Korpach.
Golf Canada’s Asset Purchase Agreement with Golfuture YYC followed pitches from, and discussions with, a number of prospective parties following a targeted go-to-market strategy when the facility was put up for sale.