The golf club, which hosted the Ryder Cup four times, was reportedly sold under a £ 140million deal – with a second major UK resort sold on the same day.
Both venues were bought by US companies.
Wall Street investment bank Goldman Sachs becomes the new owner of The Belfry, ending nearly a decade owned by private equity firm KSL Capital Partners.
Corresponding Sky news, a real estate fund operated by Goldman, has beaten bond fund manager Pimco as the preferred bidder for the legendary Warwickshire hotel and golf courses that hosted the 1985, 1989, 1993 and 2002 Ryder Cup.
The purchase price is expected to be in the order of £ 140 million – £ 40 million less than KSL paid for it in 2012.
KSL has been trying to sell the resort for some time and held an auction in 2017 of the venue that recently hosted the Betfred British Masters tournament but then decided against selling it.
The bell tower
Just as the sale of The Belfry was announced, a second major transaction took place with a UK golf resort, which may point to an increase in market activity after 18 months of uncertainty due to the pandemic.
Slieve Donard Resort and Spa in Northern Ireland, which borders the Royal County Down Golf Club, has been sold by its owner, Hastings Hotels.
The Royal County Down championship course is currently on Rated as the best in the UK and fourth best in the world, and it often is marketed together with Slieve Donard Resort and Spa from Hastings Hotels.
Slieve Donard has now been sold to Adventurous Travel (AJ) Capital Partners – a Nashville-based real estate developer and hotel operator with over 40 hotels in the US and UK.
The brand currently has properties in other prime golf destinations including St Andrews, North Berwick and Troon.
Regarding the sale, Howard Hastings, Managing Director of Hastings Hotels said: “The acquisition of Slieve Donard Resort and Spa by AJ Capital Partners is encouraging for the hospitality and tourism industries in Northern Ireland and especially for the emerging golf tourism industry here – which has been in recent years Has been an important driver of local tourism for years and has considerable growth potential for the future.
“This investment is a strong vote of confidence in the local market of a large international hotel operator with exciting ambitions for the Slieve Donard Resort and Spa in the years to come. I firmly believe that AJ Capital Partners will empathize with the hotel’s legacy and that, under their leadership, it will continue to thrive and maintain its reputation as an iconic Northern Ireland travel destination. “
Slieve Donard Resort & Spa. Image from Facebook
Ben Weprin, CEO of AJ Capital Partners, said he was honored to have the hotel added to his collection.
“It is a tremendous responsibility and honor to be the next steward of this timeless asset. The Hastings family has held this award for nearly 50 years, ”he said.
“We plan to carry on and maintain the tradition and spirit of this iconic property and combine it with our existing assets to create a collection unparalleled in the golf world.”