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Entertainment golf: Drive Shack granted permit for Lake Nona complex

Drive Shack golf complex lake nona

Drive Shack Inc. has been granted a permit to allow them to begin construction of a new golf attraction at 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 as places 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 is still sluggish.  Drive Shack hopes that making golf a little more fun and will reap rewards with new golf entertainment venues appealing to a wider audience.  Technologically-enhanced golf games will be available as the company delivers an experience that will be “not quite golf, but golf-like”.

Each site will require an investment of between $15 and 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.

http://www.bizjournals.com/orlando/news/2017/05/22/construction-tees-up-for-25m-lake-nona-golf.html?ana=e_orl_bn&u=vjae6yLpzZ6mllz4kfkfbg05165bcc&t=1495483382&j=78227891

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Rachel Reed

Rachel Read

Rachel is Finance Director. She has a degree in engineering from Cambridge University and qualified as a Chartered Accountant at Deloittes in London. She worked in finance in industry for twenty years. She oversees our news and also manages our events.

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