Rough greens for Houston's wealthiest golf coursesRough greens for Houston's wealthiest golf courseshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=205222018-07-10T05:00:00Z2018-07-11T00:50:00Z

​​​​​​HOUSTON – In a tough time for golf, Houston country clubs are managing to weather the storm.

Mergers, acquisitions, partnerships—these conversations rarely start in the office. 

Much of the ground work is done at high-end restaurants, private clubs and golf courses frequented by Houston’s business elite.

Houston’s economic climate and energy wealth over the past century has led the Bayou City to be home to three of the nation’s 20 wealthiest nonprofit country clubs, according to data from American City Business Journals

When measured by revenue, River Oaks Country Club is the sixth wealthiest in the U.S., Houston Country Club is 14th and Lakeside Country Club is 19th. 

Houston Country Club’s voting members recently approved—in a roughly 65 percent majority—an $80 million renovation project that’ll add a new wing to the club, a new state-of-the-art fitness center, change the configuration of the kitchen and other upgrades. 

Lakeside Country Club will soon break ground on its $32 million rebuild and renovation after sustaining significant damage after Hurricane Harvey.

Officials planned to start construction in June on a 101,000-sf clubhouse and country club that’ll deliver in November 2019.

A primary stress for those clubs is often long-term debt, which totaled around $491 million, or $9 million per club, among the 55 wealthiest nonprofit courses analyzed by the Business Journals
Houston Business Journal
Houston-The Woodlands-Sugar Land
https://www.bizjournals.com/houston/news/2018/06/28/maintaining-the-greens-how-houstons-wealthiest.htmlSource: {Source}

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