Golf Inc - April 2008 - (Page 41)

The power of won teach Korean nationals English and provide other business and playing instruction that will help them develop professional careers in golf. Over the past five years, more than half of all courses sold in Southern California have been to buyers with Korean ties Year 2007 2006 2005 Total sales 10 7 9 Buyers with Korean ties 7 3 6 All other buyers 3 4 3 Are there pitfalls? Golf industry veterans will recall 2004 8 4 4 a couple of decades ago, when 2003 6 3 3 Japanese buyers, riding a strong Total amount paid $268,450,000 $239,600,000 yen and Japan’s manufacturing and technology boom, scooped Source: CB Richard Ellis Golf & Resort Properties up U.S. golf course properties at every opportunity. Their purchas es included many trophy courses and pay top fees. success of [PGA Tour star and Korea properties, among them Pebble Beach. Will Korean owners fall victim to a native] K.J. Choi and all their LPGA Many of those buyers poured millions similar plight? Most observers say no. players, so when they see an opportunity into their newly acquired properties, “Koreans are traditionally big buyers of to add golf to their operational portfolio, confident that golf-crazy Japanese tourists real estate that is geared toward operational they like the opportunity to improve the who had little opportunity to play in businesses,” Woolson said. “Their whole operational efficiency of golf courses.” their native country would flock to U.S. culture is fascinated with golf, with the Kang, however, cautions that Korean 2008 Listings Alden Pines Country Club Bokeelta, FL Asheboro Country Club Ashboro, NC Caswell Pines Golf Course Yanceyville, NC Drumm Farm Golf Club Independence, MO Hilda W. Allen Real Estate Inc. Specializing in golf and resort properties REAL ESTATE, INC. Doe Valley Golf, 400 Ac & Lake, Brandenburg, KY Emerald Mtn Golf Club Wetumpka, AL Greenwood Country Club Greenwood, SC Nashboro Golf Club Nashville, TN TUESDAY • MAY 6 • 11 AM CST ABSOLUTE AUCTION TUESDAY • MAY 13 • 11 AM EST BANK ORDERED AUCTION • Bellaire Golf Club, Bellaire, MI 18-Hole Public Course, T-Bones Restaurant & Pro Shop on 126 Acres with two additional Development-Potential Tracts: 5 Ac & 16 Ac PREVIEW DATES: April 10 & May 5, 1 to 3 PM Auction conducted in conj w/ Sheridan Auction & Rlty No Minimums, No Reserves! New Live Oak Golf & Country Club, Georgetown, FL • RiverWatch Golf, Smithville, TN (near Nashville) River Islands Golf Course 18-Hole Championship Course on Center Hill Lake Kodak, TN with Lodging and Residential Land Serenoa Golf Club including Development Pods Sarasota, FL PREVIEW DATES: April 3 & April 29, 11 AM Southwind Golf Club Fulton County, GA West Winds Golf Club New Market, MD THURSDAY • MAY 15 • 11 AM EST • HYBRID AUCTION • Sherman Hills Golf Club, Brooksville, FL (near Tampa) 18-Hole Course with two distinctly different nines. PREVIEW DATE: May 1, 11 AM Whispering Woods Golf Whispering Pines, NC Woodlake Golf Course Monroe, GA NEW LISTING: Western NC trophy golf property by famous name designer. Asking price $5,000,000. (Developed and undeveloped land available for an additional price.) Woodlawn Springs Golf Club Bardstown, KY 800-324-5020 April 2008 • www.hilda-allen.com 41 www.GolfIncMagazine.com http://www.hilda-allen.com http://www.hilda-allen.com http://www.GolfIncMagazine.com

Table of Contents Feed for the Digital Edition of Golf Inc - April 2008

Golf Inc - April 2008 Contents Editors Column Birney Takes NGCOA Helm Construction Costs on the Rise KemperSports Adds 14 Courses Americas: Fazio Designs St. Kitts Layout Europe/Africa: Seaside Resort Planned in Egypt Asia/Australis: Faldo Opens New Chinese Course High-Tech Tools: New Technologies that can Help Operators There's No Economic Slump at Still-Popular Reynolds Plantation Tim Moraghan Wants to Make Golf Fun Again Why a $1.5 Billion Resort has Made Environmental Protection a Top Priority Most Admired Operators Marketing Experts Make Their Pitch for Golf Courses From Korea, with Cash Last Word

Golf Inc - April 2008

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