Golf Canada Sells Calgary Golf Centre To Golfuture YYC
- Category: Inside Golf
- Published: 2019-11-12
CALGARY, Alberta — 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.”