US private equity firm buys UK's Belfry hotel and golf resort

Denver-based private equity group KSL Capital Partners has acquired The Belfry, a well-known hotel and golf resort in England that has hosted the Ryder Cup on four occasions, from Sean Quinn Jr, the son of bankrupt former Irish billionaire Sean Quinn.

The financial details were not disclosed by the buyer or vendor, but various media sources reported the deal was valued at £70 mln (EUR 88 mln), a huge markdown on the £186 mln Sean Quinn Jr is said to have paid for the golfing mecca seven years ago.

The Belfry features seven food and beverage outlets, a 2,300 m² fitness centre, a spa and 18,4500 m² of meeting space. Spread across 222 hectares, the 324 room property is the world's only four time host of The Ryder Cup, having held the tournament in 1985, 1989, 1993 and 2002, on its world famous golf course, The Brabazon. The Belfry is also home to the PGA National Golf Academy and, in addition to The Brabazon, features two additional golf courses - PGA National, England's only PGA branded golf course, and The Derby.

KSL said it plans a comprehensive renovation of the hotel. The property will be managed by a subsidiary of De Vere Group, which previously owned and managed the resort prior to its sale in 2005 to an affiliate of The Quinn Group.

'The Belfry has a proud heritage and is widely known as the 'spiritual home of The Ryder Cup,' and we are honoured to be the next stewards of this great property,' said KSL partner Richard Weissmann.