Carnoustie Golf Hotel has changed hands in what links bosses say is a “significant milestone” for the legendary Angus venue’s vision for the future.
International investor consortium MIJH Ltd has been confirmed as the new owner of the 106-bedroom hotel overlooking the Championship course.
Redevelopment of the hotel is a key strand in the masterplan to secure Carnoustie’s long-term position on The Open Championship rota.
Its new owners say the luxury venue will undergo “significant improvements”.
Carnoustie Golf Links Management Committee previously secured an option to buy the hotel – opened by Dundee developer Michael Johnson on the eve of Paul Lawrie’s 1999 triumph over the Angus links.
And in August, Angus councillors cleared the way for the hotel plan to progress.
They agreed the transfer of the land lease for the ground the hotel sits on.
The takeover deal with MJIH Ltd was completed in September for an undisclosed sum.
Investor consortium
MJIH Ltd is owned by an investor consortium led by Max Herberstein and Paul Lisiak.
Carnoustie Links chief executive Michael Wells said: “We are pleased to confirm that the Carnoustie Golf Hotel & Spa has changed ownership.
“This marks a significant milestone in delivering Carnoustie Golf Links Management Committee’s long-term vision for Carnoustie to become a world-leading, sustainable golf destination that benefits its stakeholders, particularly the local community and economy.
“We are working closely with Angus Council on the next steps to advance this ambition further and help secure the return of The Open Championship to Carnoustie this decade.”
He added: “The new owners of the Carnoustie Golf Hotel and Spa have a proven track record of making successful investments in leisure businesses and we are delighted to be partnering with them to improve and expand our facilities and secure Carnoustie’s future as a leader among the world’s best golf courses and destinations.
“We will be making further announcements about the progress of our plans in the near future.”
MIJH Ltd co-owner, Max Herberstein, said: “Carnoustie has a proud reputation as being one of the finest tests in golf anywhere in the world.
“We are fully committed to making significant and positive improvements to the hotel for visitors and members of the local community alike.
“We look forward to working with Michael and the excellent team to secure the return of The Open to this wonderful venue.”
The hotel will continue to be run by incumbent hotel management company, Bespoke Hotels.
New owners active in UK, Europe and US
Max Herberstein led the UK acquisitions of David Lloyd Leisure and Stonegate Pub Company while at TDR Capital.
In addition, he is a co-owner of several leisure assets in Austria.
Paul Lisiak is the managing partner and co-founder at Metropolitan Partners Group, a New York based investment fund.
He has completed over 150 transactions and deployed over $2.5 billion of capital.
Carnoustie vision
CGLMC remains in close discussions with the local authority over the council-owned sporting asset.
They say safeguarding the town’s Open status could unlock £500m for the Angus economy in a billion pound boost for Scotland.
Council talks revolve around a re-drawing of the links’ lease for the Carnoustie courses.
Mr Wells is confident the county will see the blue-riband event back before the turn of the decade.
The links committee say a new lease deal will galvanise investor confidence in long term ambitions for Carnoustie.
Assurances have been given over local access to the Championship, Buddon and Burnside courses.
Any far-reaching proposals will be the subject of community consultation, the council say.
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