KSL pays $1.8B for ClubCorp

KSL Capital Partners reached the 19th hole on its acquisition of ClubCorp Inc., completing a buyout of the owner of resort and golf properties. The purchase price was $1.8 billion, according to Crain s Chicago Business. The nearly 50-year-old company, based in Dallas, owns or operates nearly 170 golf courses, country clubs, private business clubs, sports clubs and resorts. It employs 18,000 workers, and generated gross revenue of just over $1 billion in 2005. KSL Capital s portfolio of golf and resort properties also includes Doral Golf Resort & Spa near Miami and La Quinta Resort & Club and PGA West in La Quinta, Calif. www.clubcorp.com www.kslcapital.com