Jim Justice Grows His Golf Portfolio
I just received a press release that Justice scooped up Glade Springs, a resort 40-miles west of the Greenbrier. Why? He probably got it for the contents of his wallet and Justice says he wants the option to cater to a middle-class customer.
To recap really quick: Since May of last year, Justice has purchased the Greenbrier, he rescued the employees of the storied resort and injected life into an abandoned local economy. He built a casino, brought (or bought) a tour event to White Sulphur Springs, and just bought the resort next door.
The price of Glade Springs isn't being revealed, but here's what he gets for his money:
The Resort at Glade Springs (pictured above) is located on 4,100 acres of land 39 miles west of The Greenbrier. The resort features 203 rooms, cottages and villas, over 15,000 square feet of meeting and event space, three eighteen hole golf courses, spa, equestrian center, indoor and outdoor pools, bowling, tennis and a myriad of outdoor adventure offerings.
__"The Resort at Glade Springs is an ideal addition to the amenities and services offered to our clientele at The Greenbrier," said Justice. "With this acquisition, Glade Springs will become an outpost to The Greenbrier and it allows The Greenbrier to be so much closer to all the wonderful West Virginia outdoor adventures, such as rafting, skiing and ATV riding. The sister resort relationship offers both resorts the opportunity to present a broader range of options in price and quality to their many loyal guests and corporate clients."
The previous owner, EMCO Hospitality, will continue to manage Glade Springs as it has for the past six years and will continue to employ the existing staff.
The Greenbrier offers 721 rooms, more than 50 recreational activities including three championship golf courses, a casino, indoor and outdoor tennis courts, a 40,000-square-foot spa and a sporting club. The PGA Tour comes to town July 26 - August 1.
I've never been to Glade Springs, don't know much about the courses or the resort. Do you?
They say capital is king in a down economy. Donald Trump keeps spending money, Herb Kohler bought the property in St. Andrews, Mike Keiser is opening a fourth course at Bandon Dunes in June. Quietly, Jim Justice is buying his way into that foursome.