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Lou_Duran

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #25 on: December 03, 2018, 05:18:08 PM »
JK,


If you haven't been to Briggs Ranch, hurry down.  One of the best scaled courses I've played, challenging but very playable, and with a lot of variety.  It would have been successful as conceived if it was located in the north end.  SA is a big hit with our out-of-state friends (two Tillies near DT).  If I was 10 years younger, I'd be jumping on the DN program.
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John Kavanaugh

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #26 on: December 03, 2018, 07:39:00 PM »
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Joe Bausch

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #27 on: December 03, 2018, 08:08:50 PM »
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@jwbausch (for new photo albums)
The site for the Cobb's Creek project:  https://cobbscreek.org/
Nearly all Delaware Valley golf courses in photo albums: Bausch Collection

Nick Ribeiro

Re: Hidden Creek Sold
« Reply #28 on: December 03, 2018, 09:08:09 PM »
For those of you who follow Dormie Network on IG, they posted a photo of Hidden Creek with a "Coming Soon" over it...
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B.Ross

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #29 on: December 04, 2018, 10:26:27 AM »
anyone else curious how the economics are going to work out here? the club cost / cost of living in hidden creek's main DMA is vastly different than the other dormie network club locales. if the memberhip dues & initiation at hidden creek are say 1.5x-2x that of say bally hack or briggs ranch, how is this going to work out?
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archie_struthers

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #30 on: December 04, 2018, 11:24:05 AM »
 ???




Interesting that members have right of first refusal. Wonder if anyone steps up ?
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Tommy Williamsen

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #31 on: December 04, 2018, 05:51:16 PM »
Got this in the Ballyhack December newsletter.


DORMIE NETWORK SET TO WELCOME HIDDEN CREEK GOLF CLUB IN JANUARY We’re thrilled to announce the pending purchase of the sixth official Dormie Network club: Hidden Creek Golf Club in Egg Harbor Township, New Jersey (just outside Atlantic City). Hidden Creek opened in 2002 to widespread critical acclaim, ranking third among private golf clubs in the United States in Golf World’s inaugural Reader’s Choice Awards in 2008 (behind only the fabled Augusta National and Pine Valley Golf Clubs). In 2003, just one year after its inception, Hidden Creek was ranked 72nd on GOLF Magazine’s list of top 100 courses in the U.S. Hidden Creek Golf Club features an 18-hole heathland-style golf course designed by Bill Coore and Ben Crenshaw. Crafted into 750 acres of aged woodlands and rolling hills, the course features bent grass fairways, strategically carved bunkers, dramatic elevation changes, and subtle green contours. The club has been the site of a number of championships and Open qualifiers, including: a U.S. Senior Open qualifier in 2004; 2004 and 2017 Women’s Open qualifiers; the 2015 U.S. Senior Amateur Championship; and 2014 and 2018 U.S. Open qualifiers. The sale of the club is expected to be finalized in January. We couldn’t be more excited to welcome it to the Dormie Network family, and will announce additional updates as details are finalized.
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Where there is no love, put love; there you will find love.
St. John of the Cross

"Deep within your soul-space is a magnificent cathedral where you are sweet beyond telling." Rumi

Steve_ Shaffer

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #32 on: December 04, 2018, 07:11:40 PM »
Here is the announcement from Hidden Creek:


http://myphillygolf.com/detail.asp?id=19745&pid=20
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Kevin_Reilly

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #33 on: December 05, 2018, 02:01:11 AM »
Quote from: archie_struthers on December 04, 2018, 11:24:05 AM
???
Interesting that members have right of first refusal. Wonder if anyone steps up ?


In business situations where there is a ROFR, you wouldn't move forward with a deal process unless you were 100% sure that the ROFR will not be acted on.  Otherwise the other party (Dormie in this case) would not spend 5 minutes on the deal. 
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"GOLF COURSES SHOULD BE ENJOYED RATHER THAN RATED" - Tom Watson

Gary Sato

Re: Hidden Creek Sold
« Reply #34 on: December 05, 2018, 01:03:48 PM »
Quote from: BRoss on December 04, 2018, 10:26:27 AM
anyone else curious how the economics are going to work out here? the club cost / cost of living in hidden creek's main DMA is vastly different than the other dormie network club locales. if the memberhip dues & initiation at hidden creek are say 1.5x-2x that of say bally hack or briggs ranch, how is this going to work out?


Good question. I'm intrigued if not confused about the business model considering some of the remote locations of the courses.


Buying a quality course cheaply these days is not an issue. Running it profitably and growing the membership is the issue.
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Steve_ Shaffer

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #35 on: December 05, 2018, 02:03:33 PM »
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"Some of us worship in churches, some in synagogues, some on golf courses ... "  Adlai Stevenson
Hyman Roth to Michael Corleone: "We're bigger than US Steel."
Ben Hogan “The most important shot in golf is the next one”

Ryan Hillenbrand

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #36 on: December 05, 2018, 02:11:24 PM »
Quote from: Kevin_Reilly on December 05, 2018, 02:01:11 AM
Quote from: archie_struthers on December 04, 2018, 11:24:05 AM
???
Interesting that members have right of first refusal. Wonder if anyone steps up ?


In business situations where there is a ROFR, you wouldn't move forward with a deal process unless you were 100% sure that the ROFR will not be acted on.  Otherwise the other party (Dormie in this case) would not spend 5 minutes on the deal.

An exception to that would be the sale of the St. Louis Rams. Shad Khan thought he had the purchase all locked up and then Kroenke exercised his ROFR as minority owner, using the market price Khan set. Of course the NFL had rules an owner couldn't own another pro franchise, and Kroenke owned 3 others, but we now know the NFL's rules mean nothing.

- Bitter Ex Rams fan
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archie_struthers

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #37 on: December 05, 2018, 07:34:22 PM »
 8)


Hidden Creek fills in a nice niche for the new owners .  Fun , interesting golf course with some nice amenities with the lodge et al on site .   


The location close to AC provides some opportunity for vacation fun and the beaches in this area are fantastic. 


Could be a wonderful fit !


Earlier I misstated that there was a FROR clause in the membership docs.  There is something there but not having seen it I’m just guessing .  Do know that it will take a super majority vote of membership to buy it at some price .
Illuminati not ! Lol

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JESII

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #38 on: December 05, 2018, 07:48:51 PM »
Agree Archie...I assume (and it's only an assumption) that Hidden Creek could benefit from an additional 50 - 75 members because most every course in the region is the same. There's no way the Dormie folks cause more disruption than that and likely come with much more financial value. Add in the simple reality that the owner is of a natural age to look for a successor and this seems like a great move by everyone.
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JESII

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #39 on: December 10, 2018, 07:02:54 PM »
Is there any way to guess at the purchase price for this deal?
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Tommy Williamsen

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #40 on: December 10, 2018, 11:04:53 PM »
It does not appear to be a fire sale, so I am thinking it was a pretty big ticket item.
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Where there is no love, put love; there you will find love.
St. John of the Cross

"Deep within your soul-space is a magnificent cathedral where you are sweet beyond telling." Rumi

archie_struthers

  • Karma: +0/-0
Re: Hidden Creek Sold
« Reply #41 on: December 11, 2018, 08:00:34 AM »
 8) ???


As to price sure we will know soon but there are member deposits in the mix that will have to be factored in to the final analysis.
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Nick Ribeiro

Re: Hidden Creek Sold
« Reply #42 on: December 12, 2018, 10:29:53 AM »
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