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Health and Fitness Club Industry News: Chains

Sunday, November 19th, 2017

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ClubCorp Stockholders Approve Acquisition By An Affiliate of Certain Funds Managed By Affiliates of Apollo Global Management, LLC
Posted: September 18, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp – The World Leader in Private Clubs (NYSE:MYCC), announced that its stockholders approved the acquisition of ClubCorp by an affiliate of certain investment funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO) at its special meeting of stockholders held September 15, 2017. Subject to the satisfaction of the remaining customary closing conditions, the transaction closed on September 18, 2017. Upon the closing of the transaction, ClubCorp stockholders were entitled to receive $17.12 per share in cash. Read More...

ClubCorp Provides Update on Impact of Hurricane Harvey
Posted: August 30, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp - The World Leader in Private Clubs (NYSE:MYCC) - provided the following update regarding the impact of Hurricane Harvey on its clubs. Read More...

ClubCorp Reports Thirteenth Consecutive Quarter of Revenue Growth
Posted: July 20, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp - The World Leader in Private Clubs (NYSE:MYCC) - announces financial results for its fiscal-year 2017 second quarter ended June 13, 2017: Revenue increased $7.4 million to $276.4 million, up 2.7%, for the second quarter of 2017. Net Income decreased $5.0 million to $0.8 million, down 86.2%, primarily due to higher selling, general and administrative expense related to centralization and transformation of administrative processes, finance processes and related IT systems, and impairment of assets related to recently divested clubs. Adjusted EBITDA(1) of $62.9 million, up 0.1%. Read More...

ClubCorp Enters into a Definitive Agreement to be Acquired by Certain Investment Funds Affiliated with Apollo Global Management in an All-Cash Transaction Valued at $1.1 Billion
Posted: July 9, 2017 in Chains

ClubCorp - The World Leader In Private Clubs DALLAS, TX and NEW YORK, N.Y. - ClubCorp – The World Leader in Private Clubs (NYSE:MYCC), announced that it has entered into a definitive agreement with affiliates of certain investment funds (the "Apollo funds") managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE:APO), a leading global alternative investment manager, pursuant to which the Apollo funds will acquire all of the outstanding shares of ClubCorp for $17.12 per share in cash, or approximately $1.1 billion. The all-cash transaction represents a premium of approximately 30.7% over ClubCorp’s closing stock price on July 7, 2017. Read More...

ClubCorp Announces 5th Acquisition in 2017 With Purchase of Medina Golf & Country Club in Medina, Minnesota
Posted: June 22, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp – The World Leader in Private Clubs (NYSE:MYCC) – announces the acquisition of Medina Golf & Country Club, a formerly member-owned private club, in Medina, Minnesota, just west of downtown Minneapolis. This is the first club in Minnesota for ClubCorp, expanding the company’s presence to 28 states. ClubCorp plans to spend more than $2.5 million over the first two years to reinvent the club bringing new contemporary dining and lifestyle features to the clubhouse and patio, plus improvements to the golf course, golf practice facilities and aquatics. Read More...

Topgolf and ClubCorp Team Up to Accelerate Innovation for Golf Industry
Posted: June 20, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - Topgolf, a global leader in sports entertainment with the world's largest digital golf audience, is teaming with ClubCorp – The World Leader in Private Clubs (NYSE: MYCC) to grow interest and participation in golf among Topgolf's 10.5 million players and ClubCorp's 430,000 members. The strategic alliance will result in Topgolf providing new technology and benefits for ClubCorp members and ClubCorp providing special offers and experiences at ClubCorp clubs. Read More...

ClubCorp Reports 12th Consecutive Quarter of Growth, Announces Acquisition of Oakhurst Golf and Country Club and “The Collective” a New Club Concept
Posted: April 26, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp - The World Leader in Private Clubs (NYSE:MYCC) - announces financial results for its fiscal-year 2017 first quarter ended March 21, 2017. The first quarter of fiscal 2017 and fiscal 2016 consisted of 12 weeks. All growth percentages refer to year-over-year progress. First quarter revenue was $221.3 million, up 3.0%, net loss decreased $0.8 million to $7.5 million, and adjusted EBITDA was $43.7 million, up 4.2%; ClubCorp acquires Oakhurst Golf and Country Club in Clarkston, Michigan; ClubCorp signs lease to open a new concept business / social club "The Collective" in Seattle, Washington; Eric Affeldt announces his intention to retire from his role as Chief Executive Officer upon the appointment of his successor. Read More...

ClubCorp CEO Eric Affeldt to Retire
Posted: April 12, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp – The World Leader in Private Clubs (NYSE:MYCC) – announced that Eric Affeldt intends to retire from his role as Chief Executive Officer upon the appointment of his successor. As part of its regular CEO succession planning process, the Board has identified a strong internal candidate and will engage a leading executive search firm to identify additional, highly qualified, external candidates. Read More...

ClubCorp and Alexandria Real Estate Equities Launch New, Dynamic Club in Seattle
Posted: April 10, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp – The World Leader in Private Clubs (NYSE:MYCC) – announces with Alexandria Real Estate Equities, Inc. (NYSE:ARE), the leader in collaborative life science and technology campuses, plans for The Collective, a new club in the heart of South Lake Union. Slated to open in March 2018, The Collective will connect Seattle’s growing community of innovators and creatives, as well as provide them with an urban escape for the mind, body and soul. Read More...

ClubCorp Announces Third Acquisition in 2017 with Purchase of Norbeck Country Club
Posted: March 14, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp – The World Leader in Private Clubs (NYSE:MYCC) – announces the acquisition of Norbeck Country Club, a premier country club in Rockville, Maryland, just north of Washington, D.C. This marks the third acquisition this year for ClubCorp, which plans a multimillion-dollar reinvention of the club that will feature new dining amenities, and improvements and upgrades to the club over the next two years. Read More...

ClubCorp Reports Sixth Consecutive Year of Record Results, and Announces Acquisition of North Hills Country Club
Posted: February 22, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp - The World Leader in Private Clubs (NYSE:MYCC) - announced financial results for its fiscal-year 2016 fourth quarter ended December 27, 2016. The fourth quarter of fiscal 2016 and fiscal 2015 consisted of 16 weeks. Fiscal 2016 and fiscal 2015 consisted of 52 weeks. All comparisons are year-over-year. Fiscal 2016 revenue was $1.1 billion, up 3.4%, net income increased $13.6 million to $4.0 million, and adjusted EBITDA was $247.7 million, up 6.2%; Fourth quarter revenue was $345.3 million, up 4.1%, net income increased $11.7 million to $5.4 million, and adjusted EBITDA was $83.3 million, up 4.7%; ClubCorp acquires North Hills Country Club in Glenside, Pennsylvania. Read More...

ClubCorp Charity Classic Raises Record-Breaking $3,053,312
Posted: February 15, 2017 in Chains

ClubCorp - The World Leader In Private Clubs DALLAS, TX - ClubCorp – The World Leader in Private Clubs (NYSE:MYCC) – announced that, through its Charity Classic events, the company raised $3,053,312 in 2016, breaking its previous all-time fundraising record set in 2015. The Charity Classic, ClubCorp’s major philanthropic effort benefiting over 100 national and local charitable organizations, Augie’s Quest/ALS Therapy Development Institute and ClubCorp’s E.P.C.F., has now raised more than $20.3 million since its inception in 2007. Read More...

ClubCorp Acquires Eagle’s Nest Country Club
Posted: February 8, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp – The World Leader in Private Clubs (NYSE:MYCC) – announces the acquisition of Eagle’s Nest Country Club, a premier member-owned country club located in Maryland, just north of Baltimore. ClubCorp plans to spend more than $1 million on capital projects that will bring new amenities, improvements and upgrades to the club. Read More...

ClubCorp Reviewing Strategic Alternatives
Posted: January 12, 2017 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp Holdings, Inc. - The World Leader in Private Clubs (NYSE:MYCC) - announced that the Board of Directors has established a Strategic Review Committee, which, with the assistance of financial advisors, is reviewing and evaluating alternatives to further enhance shareholder value. Read More...

ClubCorp Reports Tenth Consecutive Quarter of Growth, Narrows Full Year Outlook, and Initiates Strategy to Reduce Leverage
Posted: October 13, 2016 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp -- The World Leader in Private Clubs (NYSE: MYCC) -- announces financial results for its fiscal-year 2016 third quarter ended September 6, 2016. The third quarter of fiscal 2016 and fiscal 2015 consisted of 12 weeks. Year-to-date results of fiscal 2016 and fiscal 2015 consisted of 36 weeks. All growth percentages refer to year-over-year progress. Third quarter revenue was $259.3 million, up 1.6% due to increases in dues and food and beverage revenue. Third quarter net income was $1.2 million. Third quarter adjusted EBITDA was $59.0 million, up 7.5%. Read More...

Clubcorp CEO, Eric Affeldt, To Be Inducted Into Hospitality Industry Hall of Honor
Posted: September 15, 2016 in Chains

ClubCorp - The World Leader In Private ClubsHOUSTON, TX - Eric Affeldt, CEO of ClubCorp, a world leader in private golf and country clubs, will be inducted into the Hospitality Industry Hall of Honor this year at the University of Houston Conrad N. Hilton College of Hotel and Restaurant Management. The Hall of Honor, housed at Hilton College, was created in 1996 to recognize industry leaders who have made extraordinary contributions to American and international business and society. Read More...

ClubCorp Acquires Heritage Golf Club
Posted: August 31, 2016 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp -- The World Leader in Private Clubs (NYSE: MYCC) -- announces the acquisition of Heritage Golf Club, a premier private country club in Hilliard, Ohio, just west of Columbus. ClubCorp plans to spend more than $1 million on improvements to the clubhouse, golf course and practice facilities. Read More...

ClubCorp Announces Sponsorship of PGA Tour Professional Austin Connelly
Posted: August 8, 2016 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp -- The World Leader in Private Clubs (NYSE: MYCC) -- announced a sponsorship with rising star Austin Connelly, playing in his first year as a professional and competing in this weekend's John Deere Classic on the PGA TOUR. Connelly, just 19 years old, learned the game as a junior golfer at Hackberry Creek Country Club, a member of the ClubCorp family of clubs. Read More...

ClubCorp Reports Strong Second Quarter Results, Announces Promotion of Mark Burnett to President and Announces Deal to Manage a New Business Club Atop of One World Trade Center in New York City
Posted: July 14, 2016 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp -- The World Leader in Private Clubs (NYSE: MYCC) -- announced financial results for its fiscal-year 2016 second quarter ended June 14, 2016. The second quarter of fiscal 2016 and fiscal 2015 consisted of 12 weeks. Year-to-date results of fiscal 2016 and fiscal 2015 consisted of 24 weeks. All growth percentages refer to year-over-year progress. Second quarter revenue was $269.0 million, up 2.0% due to solid increases in dues and F&B revenue; Second quarter net income was $5.8 million, up $6.0 million; Second quarter adjusted EBITDA was $63.3 million, up 5.3%; ClubCorp Promotes Mark Burnett to President and COO; ClubCorp signs management deal to operate a new Business Club in NYC; Read More...

ClubCorp Announces Its Eighth Straight Quarter of Record Results
Posted: April 27, 2016 in Chains

ClubCorp - The World Leader In Private ClubsDALLAS, TX - ClubCorp -- The World Leader in Private Clubs (NYSE: MYCC) -- announced financial results for its fiscal-year 2016 first quarter ended March 22, 2016. The first quarter of fiscal 2016 and fiscal 2015 consisted of 12 weeks. All growth percentages refer to year-over-year progress: First quarter revenue was $214.9 million, up 6.3% due to solid increases in dues, F&B and golf ops revenue; First quarter adjusted EBITDA was $42.1 million, up 8.2%; ClubCorp reiterates 2016 adjusted EBITDA expected to be between $242 and $252 million. Read More...

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