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Press Releases |
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June 2010 NAPLES, FL. - MasterLink Club Services announced today it has been retained as a management consultant with The Lake Wales Country Club, Lake Wales, FL (www.lakeswalescc.com) . MasterLink (www.masterlinkinc.com) was initially retained to consult with the storied club and its ownership group Ben Hill Griffin, Inc. and the related Griffin family interests to review the operations in order to reach recommendations for the improvement in operations. The 18-hole golf course was designed in 1923 by Donald Ross, the nation's first renowned golf course architect. The club amenities in addition to the pro shop and driving range include tennis courts, clubhouse grill and dining room and banquet facilities. "The club is the leading private club in the area and the quality of the Donald Ross golf course is outstanding. The club has a very well established social following as well. Hosting many social events throughout the year. The Ben Hill Griffin Memorial Tournament has been held at the club for in excess of 40 years" said Tary Kettle, president of MasterLink, a club and lifestyle management, consulting and staffing company headquartered in Naples and Orlando with offices throughout Florida. "The club has a strong foundation and tradition, having been owned by the Ben Hill Griffith family for over 25 years," Kettle said. "Our retention will provide the club and staff critical support in implementing the recommendations for improving operations and financial performance." MasterLink has managed or consulted with a large array of golf and tennis clubs, lifestyle communities, deep-water marinas throughout Florida for over two decades. In addition to normal management services including staffing, the company has become involved in equity conversions of clubs and litigation support.
CONTACT: Tary Kettle (866-434-2300) or Dave Kempton (239) 405-1709 or
October 7, 2009 NAPLES, FL. - MasterLink Club Services accomplished a rare success story in the club lifestyle industry recently, providing litigation supporting services, management and assisting with and facilitating the sale of a Tampa Bay area club for a major regional financial institution. MasterLink Club Services president Tary Kettle announced the sale of Treasure Island Tennis and Yacht Club in the Tampa Bay market for Regions Bank, who financed the $7.l million clubhouse expansion. Treasure Island filed for Chapter 11 bankruptcy in November, 2008 and the lender secured the club industry experience of Masterlink (www.masterlinkinc.com) in March, 2009 to manage and operate the club, offer expert litigation support work and assist with the disposition of the toxic asset. Tampa Bay investor Bill Edwards purchased the club in early July for an undisclosed amount from Regions Bank. Treasure Island had an $8.6 million mortgage with the bank. "MasterLink was engaged in a toxic situation with the club but it was an excellent opportunity for the company to deliver positive results in three key areas of the club and golf management industry today," Kettle said. "As the club and lifestyle industry continues to face turbulent economic times and conditions, our experience allowed us to assist in resolving a difficult situation where everyone sees a positive at the conclusion of the litigation and disposition of the facility," Kettle said. MasterLink Club Services expanded its Litigation Support Services division in the last two years, allowing the Naples and Orlando-Florida based Management Company to help resolve toxic asset problems throughout the Eastern United States. "This turnkey approach to troubled clubs, where we have an opportunity to show all stakeholders resolution to very difficult situations" Kettle said. "Treasure Island, with a 38-year history and over 700 members, is the perfect example of becoming involved with a toxic financial situation," Kettle said. "They built a new clubhouse, membership declined; resulting in an impossible financial position and finally the club was forced into default." "Fortunately, it appears life will go on for this Club so rich in History." Kettle said. CONTACT: Tary Kettle (866) 434-2300 or tkettle@masterlinkinc.comor Dave Kempton (239) 405-1709 or dkempton@masterlinkinc.com
June 8, 2009 There's no bailout for Southwest Florida golf communities in this economy - Naples Daily News - click here to view article September 2008 EL DIABLO GOLF & COUNTRY CLUB ADDING NEW CLUBHOUSE OCALA, FL. - El Diablo Golf & Country Club, ranked as one of Florida's top public golf courses for over a decade, has added a major addition to its lifestyle amenity package when a new clubhouse is completed in the fall. The Citrus Springs course, ranked in 2007 as the 17th best public course in golf rich Florida, was designed by Jim Fazio. El Diablo, which translates into "The Devil" in Spanish, was named America's best new public course by Golf Digest magazine when it opened in 1998. The clubhouse totals 3,000 square feet, including over 750 square feet of retail space. The expansion program will also include a new and expanded parking lot. The restaurant in the El Diablo clubhouse offers seating for up to 140 players with a full service bar. Breakfast and lunch will initially be served. "The golf experience at El Diablo, already considered as world class with the golf course, will be elevated with a modern clubhouse facility that completes the amenity package," said Brian Bittiker, the club manager. El Diablo, located in North Citrus County 20 minutes from Ocala, is managed by MasterLink Club Services, a club and lifestyle management company under the umbrella of The Link Related Companies. "The club continues to stand out in a very competitive industry," said Tary Kettle, MasterLink president. "We're especially pleased El Diablo has remained popular with the players in Central Florida and we will continue to add value to the experience." "We are very fortunate to have an ownership group with an unwavering commitment to continue to improve El Diablo," Kettle said. Kettle also indicated the condition of the course remains among the elite facilities in Florida. "Lonny Herndon, the superintendent, has continued to elevate course conditions despite increased costs that challenge today's market," Kettle said. "He not only has maintained the course in a superb fashion, it's actually been elevated with improvements including rock work and water fountains." CONTACT: Brian Bittiker (878) 886-1309 or www.eldiablogolf.com Tary Kettle (866) 434-2300 or tkettle@masterlinkinc.com Date: JUNE 2008 MASTERLINK GUIDES FLORIDA CLUB TO REORGANIZATION, RECORD MEMBERSHIP DRIVE MasterLink Club Services (www.masterlinkinc.com) participated in the establishing of a new not-for-profit club entity with an action plan that helped save a golf club from possible extinction. The end result could be a benchmark case for similar situations in the future. The golf club is now controlled by the Burnt Store Golf and Activity Club located between Cape Coral and Punta Gorda, Florida ( www.bsgac.org). In January 2008, a Lee County, Fla. judge ruled the community's homeowners association had no authority to assess its residents to maintain the course. The lawsuit was brought by a community within Burnt Store named South Shore. After failing to win an appeal the Board of Directors gave the owner, Realmark Group, notice that it was exiting the lease. A group of active and concerned Burnt Store individuals formed a not-for-profit association and secured 1,162 members in a three-week time period to satisfy a Realmark membership funding stipulation. The new Burnt Store group signed a five-year lease for the 27-hole property and clubhouse May 29. Tary Kettle, president of Naples-based MasterLink Club Services, (www.masterlinkinc.com), said the action saved Burnt Store. "It became a legal, real estate value and lifestyle issue for a community that was built 30 years ago," said Kettle of the 1,900-resident community. "The new logo which features an eternal flame represents the community and club very well." Board member Bob Wood, president of the new not-for-profit entity, indicated the residents understood what could have happened. "Without a golf course the property values would have plummeted while impacting the residents' quality of life," Wood said. "This community would have died if the course would have closed." Bob Nuckols and Jim Brown joined Wood in organizing the new entity. MasterLink Club Services, with operations throughout Florida and offices in Naples and Orlando, operates the club under a contract with the new entity. "The Burnt Store residents are very committed - I would call selling 1,162 memberships in three weeks committed and phenomenal - and they understand the golf and club experience here is a quality amenity and a significant contribution to the real estate value," Kettle said. INFORMATION: www.masterlinkinc.com or www.thelinkrelatedcompanies.com CONTACT: Tary Kettle (866) 434-2300 or Dave Kempton (239) 405-1709 tkettle@masterlinkinc.com or dkempton@masterlinkinc.com
Date: June, 2008 CONTACT: Tary Kettle (866) 434-2300 or Dave Kempton (239) 405-1709 tkettle@masterlinkinc.com or dkempton@masterlinkinc.com
Date: May 2008
Date: April, 2008 MASTERLINK ADDS PANAMA CITY COURSE TO PORTFOLIO OF MANAGEMENT SERVICESPANAMA CITY, FL. ----- Sunny Hills Golf Club, a picturesque golf retreat in the Panama City area, has retained MasterLink Club Services www.masterlinkinc.com to assist with management of the 27-hole facility. Sunny Hills, located 20 minutes north of Panama City, was built in 1974 by the Deltona Corporation and designed by Hall of Fame golfers Ken Venturi and Gene Sarazen. The championship par 72 layout totals 7,095 yards. The public facility also includes a range, pro shop and a full service lounge that serves breakfast and lunch. "This property is tied to a long standing relationship MasterLink has had with the ownership group since the early 1990's," said Tary Kettle, president of MasterLink, a club and lifestyle management company with offices in Naples and Orlando. "We have a great relationship with the family that originally developed Marco Island and most recently El Diablo Golf & Country Club in Citrus Springs," Kettle said. "We intend to increase the scope of Sunny Hills in the northern Florida marketplace, stressing value and a fun experience," Kettle said. "We intend to evaluate the facility and make improvements as needed to attract a great cross section of golfers." INFORMATION: www.masterlinkinc.com or www.thelinkrelatedcompanies.comCONTACT: Tary Kettle (866) 434-2300 or Dave Kempton (239) 405-1709 tkettle@masterlinkinc.com or dkempton@masterlinkinc.com
Date: January, 2008
NAPLES, FL. - Tary Kettle, the president of Masterlink Club Services, remembers the days of flying his airplane over Southwest Florida over a decade ago and seeing the reflectio
are maturing and the residents and members of golf, yacht harbor marina, and resort club communities are being offered to purchase or assume ownership of the club assets and amenities from the developer or related ownership entity.
Accepting the fact that equity conversion or developer sale of club assets will be an ongoing part of the club business for the next decade, Kettle and Masterlink have added to a long portfolio of success stories in the industry by establishing itself as a leader in the complicated conversion or sale of a club.
Equity conversion or sale indicates the members, residents, Homeowners Association, or another formal group of stakeholders will accept financial and legal responsibility of the entire club in terms worked out with the owner/developer. Many clubs have a difficult time managing this transition successfully, because the strategies that served the developer are probably not appropriate for the long-term benefit of the club.
"Significant changes in the club financial management, membership plans, bylaws, dues, etc. are almost always necessary," Kettle said. "With our experience in the club industry, we can structure a fair transaction that provides value to the owner/developer while providing the club members/residents or stakeholders a fair and efficient transaction and importantly one that will stand the test of time."
Kettle explained a key component in an equity conversion or sale is maintaining a positive environment, a focused timeline of tasks/events and the structure of the transaction that will facilitate and accomplish the conveyance and be established on sound financial footing.
"These situations can be very controversial in a community, but handled effectively it will translate into a positive experience," Kettle said. "With the record growth in the Southwest Florida market in the last decade, a great number of the clubs are nearing a point where the owner/developer is prepared for what should be a natural transition."
"This is somewhat of a natural progression since the club or amenities should migrate to a group of the most interested, vested or appropriate stakeholders in these changing times," Kettle said. "The conversion or sale of a club is significant since developers have committed millions of dollars to clubs and related amenities in the Southwest Florida market."
In addition to the equity conversion or sale projects, Masterlink, an affiliated company of the Link Related Companies based in Naples and Orlando, has also provided management, staffing and consulting services to a wide variety of entities-developers, residential communities, private or public enterprises. Included among Masterlink's clients are golf and tennis clubs, deep-water marinas, lifestyle communities and upscale shopping mixed-use developments. Recent representation includes consulting for the approximate 2,000 residential unit community (4,000 residents) of Burnt Store Marina Golf Club in the securing of interest in the community's 27 hole golf course, clubhouse, restaurant and related amenities. Masterlink Club Services has also announced it has been retained by major Southwest Florida developer Stock Development to manage the equity sale of two premier golf course clubs: The Club at Grandezza in Estero and The Club at Olde Cypress in Naples, Florida.
INFORMATION: www.masterlinkinc.com or www.thelinkrelatedcompanies.com |
MasterLink Club Services, Inc. |
