Upscale golf course management firm Troon Golf is hoping to expand its presence in the Korean market, which it considers as one of the fastest growing markets for golf courses around the world.
Hud Hinton, president and CEO of Troon Golf, said the company is focusing much of its efforts in Korea, as well as China, in the next few years.
"I think it is one of the fastest growing golf markets in the world. First, the popularity of golf here is increasing exponentially, partly because of the increasing number of Koreans on the PGA and LPGA tours. Second, there is generally an undersupply of golf courses throughout the country. There are a lot of private clubs, but I think growth will come from the daily fee golf courses that are open to the public," Hinton told The Korea Times, Wednesday, at the Troon Golf Academy, Banyan Tree Club & Spa, Seoul.
Troon Golf, which oversees operations at properties located in 31 states in the U.S. and 26 countries, is known not just for its superior golf courses but also excellent guest service and food and beverage experience. Some 39 Troon Golf facilities are ranked in the Top 100 by U.S. and international publications.
"We bring in-depth knowledge of the game, how to attract customers, how to market golf and how to train employees so that they give a very high level of experience. We believe our brand is powerful enough to attract new members and golfers to our facilities once they know the facilities are managed by Troon Golf," Hinton said.
In Korea, Troon Golf manages Alpensia Golf & Country Club, Alpensia 700 Golf Club, Paju Golf Academy, Banyan Tree Club & Spa and Tuscany Hills. It will also be in charge of managing M's Club in Chuncheon, Gangwon Province and Pine Tree Luxury Condo & Spa in Ui-dong, Seoul, both of which are currently under construction.
Pine Tree, a private residential development/club, will be the first high-end property management project in Korea under the "Prive Residences" brand.
"Pine Tree will be very upscale with membership. Members will be able to access all Troon managed golf courses and clubs around the world, free of charge. We are going to expand beyond golf, with residential and small hotels. But our bread and butter will obviously still be golf, the daily fee and private clubs," Hinton said.
His years of experience in the hotel industry proved to be valuable for Troon Golf. He has served as managing director of New York's Plaza Hotel, and as senior executives for Starwood Hotels & Resorts Worldwide and Westin Hotels & Resorts.
"The brand was built on golf, but we are gradually expanding our brand so we can run other hospitality-related businesses. If you think about golf, it's really about service, products and hospitality and that's transferrable to other businesses as well," Hinton said.
Had it not been for the global recession, Troon Golf would have expanded at a much quicker pace in Korea. "I think we would have had eight or nine (golf courses) by now, if not for the recession, which has caused a lot of courses that were being planned to not be continued. But I think in the next five years, we can have 10 golf courses in Korea and have a good presence for our company here," said Hinton.
The American executive believes Asia will be the key driver of the company's "profitable growth" in the future.
"I really believe Asia is going to be a growing region for golf in the next few years. Golf is overbuilt in a lot of areas around the world but Asia there is a lot of demand to be satisfied. I see Korea, China, Vietnam, Thailand, Malaysia and India as the big growth areas in the next 10 years. We are looking for more opportunities here," Hinton said.
