Concert Golf Partners
Corporate Headquarters: Lake Mary, Florida
Website: https://www.concertgolfpartners.com/
Category: Course Management
LEADERSHIP
Peter Nanula – Chairman and CEO
Susan Dunnavant – Chief Operating Officer
Joseph B. Nowell, SVP of Operations
Walter Bogumil – Chief Financial Officer
Sundria Ridgley, SVP General Counsel & Corporate Secretary
Tom Moran – VP of Business Development
Concert Golf Partners is a boutique owner-operator of upscale private golf and country clubs, with a nationwide portfolio of almost 30 facilities that recapitalized and transitioned to non-equity status. With over $250 million of capital at its disposal to make all-cash investments in large-scale, private golf & country clubs in major metropolitan areas, the company continued its upward growth with seven more club acquisitions in 2022.
Started in 2010 by former Arnold Palmer Golf Management founder Peter Nanula, the company focuses on premier private clubs in major metropolitan areas, making significant all-cash investments and upgrades while changing their business model to for-profit.
In each course they have added to their portfolio, Concert Golf Partners has been able to gradually increase membership rosters, invest in new capital improvements, and improve levels of service and course conditions. Of equal note, all facilities are operating profitably and generating significant cash each year to fund additional capital projects in the future.
Gaillarda CC is the premier private club in Oklahoma City, with an 18-hole Tom Kite-redesign that’s the centerpiece of a luxurious 600-acre residential community. (Photo courtesy: Concert Golf Partners)
Concert’s members enjoy free reciprocal privileges at the company’s other upscale clubs along with discounted access to 400+ other TPC clubs and Pacific Links International properties. In addition, a key factor in all of Concert’s membership agreements is a contractual obligation that members will never be assessed or experience a surprise rise in their club dues.
One example of Concert Golf’s approach can be found at the Muttontown Club, an exclusive, member-owned Jewish club on Long Island’s “Gold Coast” that was founded in 1962.
The club’s annual dues had risen to $26,000 per year, creating a barrier to membership growth. When Concert was brought in in 2017, it paid off all the club’s debt while investing millions of dollars in capital projects, among them a bunker renovation, course expansion, upgrades to the bar and dining area, clubhouse remodeling, pool upgrades, and a new basketball court and dedicated kids room. Not long afterward, the club’s number of golf members increased by more than 100, the number of social members jumped by almost 20% and the average age dropped from over 65 to approximately 53.
KEY TAKEAWAYS
Concert Golf Partners has had a significant impact on the industry, building an investment portfolio of about 30 private clubs spanning from Boston to Denver.
The company continues to aggressively look for elite, fully private clubs, in major markets, and pays generously to those who facilitate introductions to owners or board members.
All Concert Golf Partners clubs were previously developer- or member-owned clubs. Through Concert Golf Partners’ ability to pay off debt and invest cash into the properties, they have been able to increase membership rosters, add new amenities, invest in capital improvement, improve course conditions and raise the level of service. Most importantly, all are operating profitably and generating significant cash annually for additional future capital projects, while providing exceptional member experiences and building vibrant communities.
Fortnight.
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