Sunday, Nov 02, 2008
Dubai: Leisurecorp, a Dubai World investment subsidiary focused on the sports and leisure sector, yesterday said it had taken over the ownership of its latest acquisition, the Turnberry Resort in Scotland.
First announced in May, the A55 million (Dh326.5 million) deal sees Turnberry transferred from Starwood Hotels & Resorts Worldwide, Inc. to Leisurecorp.
Starwood has entered into a 50-year management agreement with Leisurecorp to manage the hotel. After extensive restoration, the property will become a member of its Luxury Collection portfolio.
From today, the hotel will close for a A30 million refurbishment ahead of the 138th Open Championship in July 2009.
The internationally renowned interior designer Mary Fox Linton has been appointed to lead the refurbishment, which will see the 101-year-old hotel restored to the original vision of the original architect, James Miller.
Working in conjunction with a heritage consultant, the refurbishment will ensure that the building's heritage is maintained, while delivering beautifully-designed stylish hotel rooms and facilities.
Alan Rogers, group CEO, Leisurecorp, said: "Turnberry is a significant addition to our property portfolio and we take seriously our responsibility to restoring the hotel and facilities to its former glory. When the eyes of the world fall upon Turnberry next summer, we are determined that the venue will stand tall with pride, taking its rightful place as one of the top golf courses in the world.
"At Leisurecorp, we have been lucky enough to have worked with some of the world's best performers in their fields, from sporting superstars to designers and architects. Since we announced the deal with Starwood in May, we have been working hard on the development plans and are delighted with Mary Fox Linton's appointment and her vision for Turnberry.
Looking ahead
"Next week, Shanghai kicks off the inaugural Race to Dubai and arguably one of the most exciting seasons in The European Tour's history. For Leisurecorp, this will see three of our golf courses rise to the occasion with The South African Open at Pearl Valley Golf Estates, The Open Championship at Turnberry and the Dubai World Championship to climax the season at Jumeirah Golf Estates.
"We are certain that each of these tournaments will prove our passion and commitment to the golf world."
Leisurecorp was established by Dubai World in July 2006 to identify, acquire, develop and manage a portfolio of investments in the sports and leisure sectors. Its portfolio includes Jumeirah Golf Estates, Pearl Valley Golf Estates, Island Global Yachting, a stake in Troon Golf and a stake in Snowmass Colorado.
Gulf News 2008. All rights reserved.
