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SBD Global/August 6, 2012/Facilities
U.K. Golf Course Belfry Bought By U.S. Private Equity Firm
Published August 6, 2012
FORAY INTO EUROPE: The FINANCIAL's Janie Manzoori-Stamford reported that the hotel's new owner is American investment firm De Vere Group. The group was recently acquired by KSL Capital Partners and "specialises in travel and leisure business and has a long history of investing in golf resorts." Its purchase of the Belfry "marks KSL's first foray into Europe." An extensive renovation of the property, involving all the bedrooms, public areas and meeting spaces, "will now be undertaken." For De Vere, the addition of the Belfry "will be a boost" to the newly created De Vere Hotels and Village Urban Resorts division -- which operates alongside De Vere Venues -- under CEO Robert Cook. It will "particularly enhance De Vere's golfing facilities," which are currently at 11 of its hotels and venues, with 16 championship courses (FINANCIAL, 8/5).