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Palm Coast Tuesday, Jan. 7, 2020 2 weeks ago

Sold: Hammock Beach Resort gets new owner and new management companies

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Aimbridge Hospitality will manage Hammock Beach Resort, Troon the golf club.
by: Brian McMillan Executive Editor

Updated 11:02 a.m. Jan. 7

Hammock Beach Resort has been sold by Lubert-Adler to KDG Capital, and two industry-leading companies have been hired to take over operations of the resort and the golf club. Is a new hotel next?

"The owner has promised to build a hotel, and that'll bring many jobs to our county, and also put us as a higher place in people's minds as a destination," said Greg Hansen, Flagler County commissioner. "I really think it's going to be great for the county, great for tourism. ... The two golf courses are beautiful — they're enough of an attraction — but throw a hotel in there, too. We want that whole north Hammock area to be developed."

Hansen noted that there is also a chance of a hotel being built in Marineland. "I think it's a start," he said.

KDG's owner "has visions of a multimillion-dollar renovation that could make the property worthy of a five-star flag," according to a story in the Tampa Bay Business Journal. 

The sale of the resort for $18.3 million was first reported by gotoby.com.

Aimbridge Hospitality, which says it's the the world’s leading third-party hotel management company, will now manage the resort's nine food and beverage establishments, according to a press release. These include Atlantic Grille, Delfinos and the Ocean Bar & Cafe. Aimbridge now manages four KDG properties.

Troon also announced in a press release that it was hired to manage the golf course.

“The opportunity to manage a tremendous property like The Club at Hammock Beach is very exciting,” Bruce Glasco, chief operating officer for Troon, said in a press release.

KDG Capital is a Tampa-based private equity fund focused on investing in "institutional grade hospitality assets ... in select high-growth markets," according to a press release. 

“We feel very confident about partnering with Aimbridge Hospitality,” Greg Ogle, of KDG Capital, said in a press release.

Hammock Beach Report features a Jack Nicklaus golf course, 330 accommodations, a 91,000-square-foot pool complex and 50,000 square feet of indoor and outdoor meeting and event space.

Like Hansen, fellow County Commissioner Donald O'Brien also sees the sale as more likely to lead to the fulfillment of the promise to build a hotel at Hammock Beach Resort. The new ownership would also hopefully "make it a world-class resort and invest in cleaning up the facility and marketing it."

"If all that happens, that's all good news," O'Brien said.

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