Cabot is Pushing the Envelope
Cabot has a strategy for destination golf that sets it apart.
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Hey Golfers -
A couple of weeks ago, Cabot announced they acquired World Woods Golf Club. World Woods has two 18-hole golf courses and a 9-hole par-3 golf course — located in Brooksville, Florida; it will be Cabot’s first location in the United States.
Also announced in the deal was the acquisition of Sugarmill Woods and Southern Woods. All three properties will total 1,200 acres. It has not been revealed what Cabot’s plans are with Sugarmill Woods and Southern Woods.
Cabot entered the golf scene in 2011 with its first 18-hole golf course in Inverness, Nova Scotia, called Cabot Links. Then four years later, it opened its next 18-hole golf course, Cabot Cliffs. Cabot Links and Cabot Cliffs are consistently ranked in the Top 100 in the world. Quite impressive, considering how remote the location is.
Here is the crazy thing. Cabot Co-Founder and CEO Ben Cowan-Dewar didn’t have experience developing and building golf courses. It took him three years to purchase the land in Inverness, a complicated process. Recognizing he needed an experienced mentor, Ben partnered with Mike Keiser, the man behind Bandon Dunes. A phenomenal individual to learn how to build a golf destination.
Almost every successful entrepreneur needs to overcome adversity, and Ben’s story is no different. Cabot Links was put on the shelf in 2008 during the recession. Ben and his wife had recently moved to Inverness with their six-month-old from Toronto when Ben received the news. They pushed forward in 2009 with a bare-bones staff and budget. And it worked. Cabot has been wildly successful.
Cabot Links and Cabot Cliffs is an ideal golf destination in Nova Scotia.
36 championship holes
10 hole Par-3 course
60 hotel rooms
16 villas
Three on-site restaurants
Cabot will re-brand World Woods to Cabot Citrus Farms. Cabot has three active projects. Let’s take a look at Cabot’s timeline.
2011: Cabot Links opens
2015: Cabot Cliffs opens
2022: Cabot Saint Lucia will open
2023: Cabot Citrus Farms will open
2024: Cabot Revelstoke will open
While Cabot currently has 36 holes, they have 72 in development. An aggressive growth strategy. But it makes sense, ‘destination golf’ is booming. Bandon Dunes debuted its fifth 18-hole golf course, Sheep Ranch, in 2020 and has plans for additional golf courses in the future. Sand Valley is in the process of building its third 18-hole golf course, The Lido.
Destination golf courses fill up the Golf Digest Top 100 Courses in America.
#18 - Pacific Dunes
#23 - Whistling Straits (Straits)
#29 - Pinehurst (#2)
#37 - Bandon Dunes
#56 - Old Macdonald
#67 - Bandon Trails
#95 - Blackwolf Run (River)
What stands out is Cabot’s growth strategy. Rather than continue to build in one location like Bandon, Sand Valley, or even Pinehurst, Cabot is building destination golf courses throughout North America. They are replicating the winning strategy of Cabot Links and Cabot Cliffs. Fascinating.
The financial details of the World Woods acquisition were not disclosed. In the Spring of 2021, Fore Golf rejected a $10.9 million bid on its two LPGA International golf courses. I would certainly expect the price would be north of that benchmark for World Woods.
World Woods's green fees are certainly less than Cabot Cliffs, Bandon, and Sand Valley. Cabot Citrus Farms will likely fall in line with the other three in the future.
Below is a quick breakdown of peak season green fees.
Ben Cowan-Dewar is an incredible entrepreneur and golf operator. Cabot is set up for tremendous success with its unique strategy and is looking to capture the destination golf world. I am excited to see more detailed plans of Cabot Citrus Farms in the future.
Have yourself a Monday, talk to you next week!
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