Inniscrone Golf Club sold

[Mike_Trenham]

Not sure if this is new news but the group that owns Hartefeld National has purchased Inniscrone.  They are promoting it in this apparent press release as a daily fee course to complement the "private" Hartefeld National.  What is know about the changes in the works for the course.

Inniscrone Golf Club Changes Hands

Forewinds Hospitality LLC, a division of Sawyer Realty Holdings, has completed its acquisition of Inniscrone Golf Club in Avondale, Pa. Located approximately 20 minutes outside of both Philadelphia and Wilmington, Del., and just 10 minutes from another Forewinds golf property Hartefeld National, Inniscrone is a public, daily-fee facility featuring an 18-hole championship course designed by Gil Hanse.  
 
Built in 1998, the course is complemented by a 7,500-square-foot clubhouse which contains a grill and pub, men's and women's locker rooms and a pro shop. Forewinds will re-open the course in early spring 2006.  
 
"Everyone at Forewinds is excited about the addition of Inniscrone Golf Club to our portfolio of golf destination properties," said Ron Winarick, managing director of Forewinds. "This daily-fee facility creates a great synergy now with its neighboring sister property Hartefeld National, giving both our members and the public a great deal of flexibility and choice for membership, daily-fee play, dining, tournaments, outings and special events."  
 
In addition to Hartefeld National and Inniscrone, Forewinds also owns Mountain Branch Golf Course, a public course in Joppa, Md., and Sterling National Country Club in Sterling, Mass.  

[Craig_Rokke]

Is Davis Sezna still behind Hartfeld and Mountain Branch or is Forewinds a group that assumed ownership of his courses?

[TEPaul]

I'm not positive but I think Davis Sezna maintained the "hospitality" (food) service part of Hartefeld and sold the course and the golf operation to Fourwinds or whatever the purchasing entity is called. Sezna runs a restaurant chain centered out of Wilmington Del and the old prestigous Columbus Inn in Wilmington which was owned and operated by his father, Wally Sezna, before him.

[Joel_Stewart]

How much did they pay?   I'm trying to evaluate golf course prices to see if they have hit bottom.

[TEPaul]

Joel:

If you figure that out with a high degree of certainty, please let me know. Hell, I'll buy almost anything if it's price really has hit bottom. That's precisely why I shop at Syms and Cosco.  

[Steve_ Shaffer]

This course will now be  completely daily fee.

[Scott_Burroughs]

Do I see irony in all this?  Hartefeld starts out as a CCFAD, but due to it being too expensive and the location being a little out of the way (I'm sure there are other reasons), needs to go private to stay afloat.  Inniscrone starts out private, but due to different factors (course too tough, even farther out of the way than Hartefeld), needs to go public to stay afloat.

[George Pazin]

Scott, maybe the changing of hands resulted in a changing of capitalization, and that was the key thing. It is an interesting paradox.

Did Inniscrone ever undergo the changes to the course that were supposed to happen a couple years ago?