Industry News
(cont.)
“Club Car is thrilled to be the
Exclusive Partner for fleet golf cars
of GMA,” commented Kevin Gates
Vice President (Asia/Pacific) for Club
Car. “The strong focus of GMA on
professional development, expansion
of the game and enhancing the
quality of management within
our industry aligns well with our
corporate goals.
“I’m looking forward to sharing
educational resources and
supporting the efforts of the
organisation. Golf managers in
Australia will continue to play a
central role in the ongoing growth
and consolidation of our business in
this country.”
highs and lows of the golf business
cycle and the future looks bright. We
look forward to a mutually beneficial
relationship and thank Club Car for
their foresight and commitment to
the industry by engaging in this
partnership.”
GMA President David Burton
added “GMA is extremely pleased
to strengthen our wonderful
relationship with Club Car through
this partnership. Both golf clubs
and Club Car have experienced the
Terrace Downs golf resort sold
Terrace Downs golf resort sold
Wealthy Japanese investor Hiroshi
Hasegawa has been given permission
to buy the company that owns luxury
golf resort Terrace Downs in South
Canterbury.
Hasegawa has been given permission
by the Overseas Investment Office
(OIA) to acquire the whole of
Cathedral Square Investments, which
owns Terrace Downs resort.
The OIO said Hasegawa planned to
work with current management to
improve the resort so that it becomes
globally recognised as a leading luxury
golf and adventure destination.
Terrace Downs chief executive
Jonathan Hendriksen said Hasegawa
was ‘’a dear old friend’’ whom he had
known for many years and a ‘’wealthy
chap’’ who loved New Zealand.
Hendriksen said he was very excited
about Hasegawa’s investment and it
would be positive for the resort.
He described Hasegawa as a ‘’family
friend’’ who had assisted the resort
previously.
‘’For the resort to move forward it
does need extra capital,’’ Hendriksen
said.
Hendriksen declined to disclose
the level of investment involved in
Hasegawa’s purchase of Cathedral
Square Investments, saying he did not
want to go into the financial side of
the deal.
Asked what changes or improvements
were likely to occur at the resort
Hendriksen said time would tell what
was needed but the resort was in the
process of upgrading
its rooms.
year on year since the quake.
The resort’s wedding business doubled
last year as many other venues in
Christchurch had been damaged in the
quakes.
The OIO said the transaction had
satisfied the “substantial and
identifiable benefit to New Zealand
criteria such as retention of jobs,
increased export earnings, greater
efficiency or productivity and an offer
to sell riverbed to the Crown.
In January this
year Hendriksen
rubbished rumours
the luxury golf resort
was struggling and
said the February
2011 earthquake
had triggered a
surge in turnover
for the resort, with
nearly every month’s
turnover 20 per cent
to 25 per cent higher
Golf Industry Central Winter 2012
7