Drive Shack Inc.has been granted apermit to allow them to begin construction of a new golf attractionat Lake Nona, Orlando.
According to the Orlando Business Journal, the 57,000 square foot, three story driving range entertainment facility will be built on a 15-acre site and includes hitting bays as well asplaces to eat, drink and socialise."Not quite golf, but golf‐like"The company's December 2016 Investor Presentation states that the $70 billion a year US golf industry declined during to the recession and isstill sluggish. Drive Shack hopes that making golf a little more fun and will reap rewards with new golf entertainment venues appealingto a wider audience. Technologically-enhanced golf games will be available as the company delivers anexperience that will be "not quite golf, but golf-like".
Each site will require an investment of between$15and 25 million, and is expected to generate EBITDA of between $3 million and $6 million within three to five years.
The Orlando site is expected to open withing 12 months with a second proposed for Richmond, Va and more to follow.
Image: Drive Shack Inc.
Rachel Read
Rachel is co-founder and strategic director at blooloop. She has a degree in engineering from Cambridge University, is a Chartered Accountant and has certificates in Sustainability Leadership and Corporate Responsibility from London Business School, and Sustainable Marketing, Media and Creative from Cambridge University's Institute for Sustainability Leadership (CISL). Rachel oversees our news, events and sustainability.
