Tag Archives: Troon

Troon

Troon announces alliance with SunRidge Canyon Golf Club

Troon will partner with SunRidge Canyon Golf Club, set in the dramatic surroundings of Fountain Hills.

Golf at SunRidge Canyon is an adventure, where nature plays a profound role in establishing the layout among the ridges in Fountain Hills in some of the most picturesque and dramatic stretches of natural land in the Sonoran Desert. Nestled between the canyon walls and foothills of the McDowell Mountains, on the edge of Scottsdale, this Keith Foster-layout features scenic elevation changes, bold design features and natural beauty that is simply awe-inspiring. From its beginning and all the way through the signature “Wicked 6” stretch of finishing holes, it’s no wonder why SunRidge Canyon is consistently ranked in the top 25 “Best Courses You Can Play” in Arizona by Golfweek and Golf Magazine and also hosted the 2014 PGA Club Professional Championship of Canada.

“We are pleased to be involved with SunRidge Canyon Golf Club,” stated John Easterbrook, executive vice president of operations, Troon. “The property is well known for its unique location and impressive championship golf course and we are excited to offer our popular Troon programs. We are confident that Troon’s impact will contribute positively to the overall value and experience.”

The club is nearing the completion of a half-million dollar enhancement project that boasts new Champion Bermuda greens, expanding putting surfaces, enhanced playability and even improvements to its expansive practice facility, which will host nationally recognized instructors. Upon the club’s re-opening on October 2, 2015, SunRidge Canyon will welcome and participate in proven Troon programs such as Troon Rewards, Troon Golf Vacations, Team Troon group/tournament opportunities and more.  SunRidge Canyon will immediately be added to the popular Troon Card program as a participating club for Arizona and National Twosome and Foursome card programs.

SunRidge Canyon is now also the global home to Hot Stix Golf, the leader in technology-based club fitting by certified club-fitters utilizing proprietary fitting software and state of the art technology.

“We are thrilled to welcome Troon’s expertise to SunRidge Canyon Golf Club,” said Don Misheff, owner of SunRidge Canyon Golf Club. “SunRidge has long enjoyed a great reputation and we are excited about our new alliance and are confident that both local and traveling Troon customers and members will appreciate the golf, dining, instructional and club-fitting experience offered here at SunRigde Canyon. Our staff takes great pride in providing our customers a total experience that doesn’t end on the 18th green.”

Dana Garmany, Troon's Founder, Chairman and CEO

Troon celebrates 25-year anniversary

Troon, the leader in upscale golf course management, development, and marketing, is pleased to recognize the company’s 25-year anniversary in 2015.

Since its beginnings in 1990 with the management of the iconic Troon North Golf Club, the company has grown to become the industry leader with more than 250 managed courses in 36 states and 27 countries and with international offices in Hong Kong, South Korea, Australia, Dubai and Switzerland. Troon has successfully captured a dominant niche within golf and hospitality, creating partnerships with other industry leaders including its current capital and strategic partner, Kohlberg & Company.

 “This marks a very exciting time for Troon as we take a moment to reflect back on the success we’ve experienced the past 25 years and the exciting opportunities that lie ahead,” stated Dana Garmany, Troon’s Chairman & Chief Executive Officer. “Without having the best in the industry on our team doing incredible work throughout the world, we never would have grown to where we are today. We are truly excited about the next 25 years as we position our strategy for continued growth by delivering successful operations for our clients, and memorable experiences for our guests and members,” added Garmany.  

Major accomplishments in Troon’s history include its first international expansion into Australia in 1998, along with its involvement with Turnberry Resort in Scotland the same year. Troon’s international growth continued from that point expanding from 10 domestic facilities to more than 100 by 2007, reaching into parts of Europe, Middle East, and Asia. International expansion continued into Russia and Africa along with parts of North and South America to bring the company where it stands today as the world’s largest third-party golf management company with more than 10,000 employees.

After the recent transaction with Kohlberg & Company, new capital has been infused into Troon, positioning the company for accelerated growth in the golf and hospitality industry. In late 2014, Troon acquired Honours Golf, the premier golf management company in the Southeastern United States. The acquisition added 16 golf courses to the Troon portfolio, located across Alabama, Florida, Mississippi and North Carolina.

A special anniversary issue of Troon Golf & Travel magazine has also been published and distributed across Troon-managed facilities and select newsstands. Throughout the commemorative issue are exclusive stories that take a look back at the company’s early days through the eyes of Chairman and CEO Dana Garmany and the employees who have been with the company since the beginning. Additionally, Tom Weiskopf, who co-designed the first course at Troon North Golf Club (with Jay Morrish), recounts some of his earliest memories of those days as well. A third feature examines Troon from a business perspective, describes the company’s progress through the years via a timeline, and details the top achievements along the way.

During its 25-year history, Troon has earned a reputation for having pristine golf course conditions, personalized member service, outstanding food & beverage experiences and world-class retail offerings at its facilities. This reputation has helped Troon win the loyalty of millions of golfers with 95% of all guests who play at Troon-managed facilities indicating that their experience exceeds their expectations and 97% saying they would not hesitate to recommend Troon courses to others.

Troon’s expertise has grown to span across multiple areas of hospitality, taking its proven services to achieve success in homeowner association management, private residence clubs, estate management and associated hospitality venues. Within its current portfolio, Troon oversees operations at more than 20 spa facilities, 10 lodging facilities, 35 fitness facilities, 45 tennis facilities and 10 equestrian centers.

Troon’s resources combined with now 25 years of experience operating a myriad of private, daily fee, and resort operations in states and countries all over the world, have given the company the opportunity to develop the strategies and talent that the industry demands today. Combined with its past experience and strategic position for growth, Troon is poised to see its best years still to come.

To celebrate the exciting milestone, Troon has launched a 25-Year Anniversary “Ultimate Golf Vacation Sweepstakes” offer during the month of April. Participants can visit www.Troon25.com to enter to win a three-night stay at The Phoenician Resort for two people, including two rounds for two players at Troon North Golf Club; a round for two players at The Phoenician Golf Club; complimentary Callaway Club Fitting Experience for two people at Troon North Golf Club with a $100 Callaway Gift Card; and dinner for two people at Relish Burger Bistro and Il Terrazzo at The Phoenician.

Troon celebrates 25-year anniversary

Troon,® the leader in upscale golf course management, development, and marketing, recognizes the company’s 25-year anniversary in 2015.

Since its beginnings in 1990 with the management of the iconic Troon North Golf Club, the company has grown to become the industry leader with more than 250 managed courses in 36 states and 27 countries and with international offices in Hong Kong, South Korea, Australia, Dubai and Switzerland. Troon has successfully captured a dominant niche within golf and hospitality, creating partnerships with other industry leaders including its current capital and strategic partner, Kohlberg & Company.

“This marks a very exciting time for Troon as we take a moment to reflect back on the success we’ve experienced the past 25 years and the exciting opportunities that lie ahead,” stated Dana Garmany, Troon’s Chairman & Chief Executive Officer. “Without having the best in the industry on our team doing incredible work throughout the world, we never would have grown to where we are today. We are truly excited about the next 25 years as we position our strategy for continued growth by delivering successful operations for our clients, and memorable experiences for our guests and members,” added Garmany.

Major accomplishments in Troon’s history include its first international expansion into Australia in 1998, along with its involvement with Turnberry Resort in Scotland the same year. Troon’s international growth continued from that point expanding from 10 domestic facilities to more than 100 by 2007, reaching into parts of Europe, Middle East, and Asia. International expansion continued into Russia and Africa along with parts of North and South America to bring the company where it stands today as the world’s largest third-party golf management company with more than 10,000 employees.

After the recent transaction with Kohlberg & Company, new capital has been infused into Troon, positioning the company for accelerated growth in the golf and hospitality industry. In late 2014, Troon acquired Honours Golf, the premier golf management company in the Southeastern United States. The acquisition added 16 golf courses to the Troon portfolio, located across Alabama, Florida, Mississippi and North Carolina.

A special anniversary issue of Troon Golf & Travel magazine has also been published and distributed across Troon-managed facilities and select newsstands. Throughout the commemorative issue are exclusive stories that take a look back at the company’s early days through the eyes of Chairman and CEO Dana Garmany and the employees who have been with the company since the beginning. Additionally, Tom Weiskopf, who co-designed the first course at Troon North Golf Club (with Jay Morrish), recounts some of his earliest memories of those days as well. A third feature examines Troon from a business perspective, describes the company’s progress through the years via a timeline, and details the top achievements along the way.

During its 25-year history, Troon has earned a reputation for having pristine golf course conditions, personalized member service, outstanding food & beverage experiences and world-class retail offerings at its facilities. This reputation has helped Troon win the loyalty of millions of golfers with 95% of all guests who play at Troon-managed facilities indicating that their experience exceeds their expectations and 97% saying they would not hesitate to recommend Troon courses to others.

Troon’s expertise has grown to span across multiple areas of hospitality, taking its proven services to achieve success in homeowner association management, private residence clubs, estate management and associated hospitality venues. Within its current portfolio, Troon oversees operations at more than 20 spa facilities, 10 lodging facilities, 35 fitness facilities, 45 tennis facilities and 10 equestrian centers.

Troon’s resources combined with now 25 years of experience operating a myriad of private, daily fee, and resort operations in states and countries all over the world, have given the company the opportunity to develop the strategies and talent that the industry demands today. Combined with its past experience and strategic position for growth, Troon is poised to see its best years still to come.

To celebrate the exciting milestone, Troon has launched a 25-Year Anniversary “Ultimate Golf Vacation Sweepstakes” offer during the month of April. Participants can visit www.Troon25.com to enter to win a three-night stay at The Phoenician Resort for two people, including two rounds for two players at Troon North Golf Club; a round for two players at The Phoenician Golf Club; complimentary Callaway Club Fitting Experience for two people at Troon North Golf Club with a $100 Callaway Gift Card; and dinner for two people at Relish Burger Bistro and Il Terrazzo at The Phoenician.

golf

Troon acquires Honours Golf

Troon,® the leader in upscale golf course management, development and marketing, announced it has acquired Honours Golf, the premier golf management company in the Southeastern United States.

Honours Golf currently manages 16 golf courses located across Alabama, Florida, Mississippi and North Carolina. The portfolio includes many exceptional golf courses designed by some of the most well-known golf course architects in the industry, each offering its own unique experience yet unified by the Honours trademark of exceptional golf course conditions and Southern hospitality. The transaction combines two successful brands in the golf and hospitality industry known for extraordinary levels of services and expertise.

“Honours Golf is an ideal addition to the Troon family,” said Tim Schantz, Executive Vice President, Global Development Officer, Troon.  “Both companies share complementary values, and the combination will undoubtedly help each company continue to grow, particularly in the Southeastern United States.”

Headquartered in Birmingham, Ala., Honours Golf was founded on a vision similar to Troon’s – provide award-winning golf courses with unparalleled course conditions, hire dedicated team members who share a passion for golf, and deliver impeccable personalized service. As a result, Honours Golf has grown to become the Southeast’s leading golf course development and management company.

“I am delighted to join with Troon in this new and exciting opportunity,” said Bob Barrett, CEO, Honours Golf. “Troon has for many years been the leading golf management company and I look forward to the collaborative effort to help advance both the Troon and Honours names. Our companies share similar values with a focus on high brand standards and I am excited about what the future holds. Troon’s worldwide reach and expertise will help grow the Honours name and provide a wonderful opportunity for Honours’ team members by being part of a larger platform. For many years I have admired and respected Troon’s founder, Dana Garmany, for his many accomplishments, and I look forward to this new partnership.”

Honours Golf utilizes industry experience, expertise and best practices to create the most memorable experience at its golf courses, which now includes the resources and knowledge of the world’s leading golf management company in Troon.

“Bob Barrett is one of the most respected business leaders in our industry,” stated Dana Garmany, chairman and CEO, Troon. “Everyone at Troon is excited to welcome Bob and his team into the Troon family and to move forward in growing both brands and expanding our services.”

luxuryrealestate

Luxury Real Estate Market Retrospective: 2001-2012

News archives must be bursting with stories examining real estate’s regional and national trends after one of the most dramatic events in U.S. real estate history. However, with the old adage in mind that all real estate is local, we wanted a clear retrospective of the market we serve without the sensationalism and consistently inconsistent “expert” predictions.

Real estate veterans and industry followers are no doubt aware of the outstanding work Mike Orr has done as founder of real estate research firm The Cromford Report, and his recent appointment to Director of the Center for Real Estate Theory and Practice at ASU’s School of Business. We’ve asked him to analyze specifically our luxury market since 2001.

Though it’s no secret that residential real estate is often a purchase driven by passion, our clients are increasingly concerned about home-as-investment strategy. With this in mind, we analyzed the most helpful statistics for luxury home investors in Phoenix’s Northeast Valley from 2001 through 2012. The analysis covers single family homes $1,000,000 or more in Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek, and Carefree. It is our hope that a better understanding of where we’ve been will help us know where we are going.

Annual Sales

In 2001, there were 396 sales of single-family homes listed at $1,000,000 or more. At the time, Scottsdale (182) narrowly beat Paradise Valley (170) for units sold, but Paradise Valley had a slight edge in terms of dollars spent. Sales in these two areas made up 89 percent of the entire luxury market, with Phoenix trailing at 15 sales in the Biltmore area and 13 in Arcadia. Carefree (7), Cave Creek (4), Fountain Hills (4) and Rio Verde (1) were relatively small markets then, and while they have grown tremendously since 2001, 86 percent of sales are still in either Scottsdale or Paradise Valley.

Sales volume grew slowly in 2002 and 2003, before expanding dramatically in 2004 and 2005 when it peaked at 1,563, almost four times the sales volume a mere four years earlier. Scottsdale accounted for much of the luxury sales growth, thanks to its relatively undeveloped landscape with room for new projects in DC Ranch, Troon, Grayhawk, McDowell Mountain, Pinnacle Peak, the Shea Corridor and Desert Mountain.

Although sales began to decline after the frenzied peak of 2005, luxury home sales remained reasonably buoyant when compared to the market at large, until demand fizzled out in the second half of 2007. The broader real estate market collapse, as well as the stock market collapse in 2008, would destroy confidence in real estate for years to come. Foreclosures and short sales became part of the new vernacular, peaking in 2010 and representing 33 percent of transactions that year. Total annual sales have remained at a similar level for the past five years, but distressed sales have declined to 17 percent of transactions in 2012. Total sales in 2012 were at their highest level since 2007.

Sales Pricing

The Northeast Valley luxury market appears extremely volatile when measured on a shortterm basis, due to relatively low volume and a wide range of price points. Greater accuracy is obtained by measuring pricing over longer periods, and the best way to judge pricing is typically on a per square foot basis. The next chart shows the 12-month moving average sales price per square foot, meaning each month is the average of that specific month and the 11 months preceding it.

In 2001, the luxury market was already troubled by over-supply, and took another hit after the terrorist attacks of 9/11 and resulting stock market weakness. However, by 2004 pricing improved and prices escalated quickly during 2005 and 2006.

Yet, while prices fell from mid 2006 onwards in less expensive markets, luxury market price per square foot continued climbing – despite a slowdown in sales – into the early part of 2008. However, the extreme economic recession and the failures of Bear Stearns and Lehman Brothers took their toll from May 2008 onwards; prices collapsed from the peak of $404 per square foot in December 2007 to reach $290 by May 2010, before drifting to their lowest point ($277) in February 2012. Although the decline from peak to trough was a significant 31%, this is far less than the 59% drop in average price per square foot experienced by the overall market in the Metro Phoenix area.

Pricing finally began to recover as distressed homes worked their way through the system and by the end of 2012, price per square foot had crawled back to $291 and continue to trend upward. “86 percent of sales are still in either Scottsdale or Paradise Valley” “prices collapsed from the peak of $404 per square foot in December 2007 to reach $290 by May 2010.

Supply

During 2004 and 2005, new listings grew at a slower rate than sales volume, but they continued growing in 2006 and 2007 as sales declined; projects began during what we now recognize as the peak took time to finish. This ominous imbalance led to the huge excess of inventory in 2008 when only 766 homes were sold across the entire Northeast Valley luxury market. The number of distressed listings peaked in 2009 at 21 percent of new listings before declining to 9 percent in 2012. The number of new listings in total was at its lowest in 2011; 2012 was the first year since 2007 to show an increase in inventory. By the end of 2012, supply was roughly in balance with demand.

Seasonality

The luxury market is most active during the spring, and most transactions close from March to June each year. Over the last 12 years, this period typically generates sales at a remarkable 39 percent higher rate than the rest of the year.

Summary and Outlook

Between 2001 and 2012 the luxury home market has experienced a period of great turbulence and volatility, though not quite the extremes suffered by the rest of the market. As 2012 came to a close, supply and demand are near balanced. Barring external economic shocks, the luxury market looks likely to be relatively calm and positive.

For a personal analysis of what these numbers mean for your home, please contact our office at 480-991-2050.

Golf-Course-Working-Dogs

Golfers and goldens will tee off at Troon

Golfers will encounter some furry four-footed companions when they tee off at Rescue A Golden of Arizona’s “Links of Gold” Golf Tournament at Troon North Golf club in north Scottsdale on September 15, 2012.

Links of Gold is the signature fundraising event for Rescue A Golden of Arizona (RAGofAZ), an all-volunteer non-profit organization that has been rescuing golden retrievers since 1998.  “We rescue goldens of all ages and medical conditions, and are continuously raising funds to pay our veterinarian expenses,” said Bob Schillaci, President of RAGofAZ.  “Without a doubt, Links of Gold is our favorite event of the year, and our most important.  Golfers love to play Troon’s Pinnacle Course, and non-golfers also have a great time at our yappy hour and buffet dinner.  And everyone gets to show some love to our Golden “ambassadogs,” who are always up for some head scratching and belly rubs.”

The event kicks off with a four-person scramble shot gun start at 1:30 PM followed by a cash bar yappy hour at 5:30 PM and a buffet dinner at 6:30 PM.  Throughout the event, attendees can purchase tickets for an array of raffle prizes, including a flat screen television, a $500 US Airways gift card, wine refrigerator, free golf and more.  Proceeds help RAGofAZ to provide preventative and sometimes life-saving medical care to rescued golden retrievers, who are then placed, through adoption, in new “forever” homes.

RAGofAZ is particularly pleased to introduce Capsuline as its presenting sponsor for the tournament.  Capsuline, an e-commerce business based in Pompano Beach, Florida, is a world-wide supplier of high quality affordable capsule supplements and products for pets and their humans.  “Having a corporate sponsor like Capsuline brings greater prestige and importance to our golf tournament,” said Schillaci.  “But other sponsorships are still available, some for as little as $150.00, so we encourage anyone who is interested to get in touch with us before August 31st to secure a sponsorship.”

RAGofAZ invites golfers to register now to play on the coveted Pinnacle Course or attend just the cash bar yappy hour and buffet dinner (go to www.golden-retriever.org).  Registration fee is $145.00 for individual golfer, $500.00 for a foursome and $35.00 for dinner only.  Pre-registration and pre-payment is required by August 31, 2012.