Trump Closes Deal on Iconic Doral Golf Resort, Plans $200 Million Renovation
The first mention of the name Trump brings a certain level of respect and expectation. Donald Trump has a knack for turning everything he touches into gold or bankruptcy. Often, other companies buy just the name, and along with it comes the success. A set of esteemed buildings in North Miami Beach is a perfect example.
In October, Trump announced he would pursue the purchase of Miami's iconic Doral Golf Resort & Spa. The deal closed Monday, and the Trump Hotel Collection (THC) took over operations.
"Every year, my father and mother would take me to Doral for a weekend. It was the ultimate treat for me, it was beautiful," Trump recalled in a press release.
At the time the course was built by Alfred Kaskel in 1962, it represented the height of sophistication. Over the years, its five championship courses (including the famous Blue Monster) saw the likes of every great player, from Jack Nicklaus to Tiger Woods. But the resort and course became outdated and could no longer compete with some of the most sophisticated structures in the nation. In 2011, it was taken over by hedge fund Paulson & Co. and Winthrop Realty Trust, filed for bankruptcy, and then put up for sale.
"My ambition is to bring Doral back to its first 20 years and then top it by a wide margin" Trump continued. "When the renovation is complete, Doral will be the greatest resort anywhere in the country... This amount of land (around 800 acres) in this prime a location can never be again assembled."
Trump plans on dishing out $200 million in renovations in addition to the about $170 million he spent on the property and resort. Well-known golf course architect Gil Hanse has been tapped to lead the course revival. THC has already hired WATG and Wimberly Interiors to "reimagine the architecture and design with a fresh, relevant vision that capitalizes on the resort and spa's prestigious heritage."
"We are thrilled about this tremendous opportunity to transform Doral with a fresh and relevant vision, mingling the tradition of the Trump brand with the casual elegance of Miami as a destination," said the managing director of Wimberly Interiors, Margaret McMahon.
Among the many renovations, set to be complete by fall 2013: The driving range will be lengthened and broadened to more than twice its size, and the Members' Clubhouse will be redesigned to include vastly upgraded amenities. The hotel rooms and public spaces will be greatly enhanced, and the lodges, conference rooms, and spa renovated.
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