Golf Industry Central Winter 2012 - Page 9

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