Kingsmill has three golf courses, one of which has hosted LPGA and PGA tournaments. (Courtesy Xanterra)
One of Virginia’s best-known golf resorts has a new owner.
Earlier this week, Colorado-based Xanterra Parks & Resorts sold Kingsmill Resort in Williamsburg to Texas-based Escalante Golf.
The deal was announced Wednesday. The purchase price was $29.3 million, according to a report by the Virginia Gazette.
“We love the high-profile aspect of Williamsburg,” Escalante VP David Matheson said. “It fits well into our wheelhouse.”
Kingsmill originally was built by Anheuser-Busch in the 1970s on hundreds of acres along the James River. The resort has three golf courses, one of which hosts an LPGA tournament and used to host the PGA’s Michelob Championship until the early 2000s.
The 2,400-home resort also includes 15 tennis courts, four restaurants, a pool complex, a 16,000-square-foot conference center and a marina.
Kingsmill was built by Anheuser-Busch in the 1970s along the James River, an hour southwest of Richmond. (Scott K. Brown Photography)
Xanterra made minor changes to the resort, removing a par-3 course and installing a lazy river pool. It also sold home lots along some of the golf holes.
Matheson said Escalante has been interested in Kingsmill for some time. In 2010, it tried to buy the resort from Anheuser-Busch but was outbid by Xanterra.
“We had always had an affinity for the place,” said Matheson. “It’s one of those iconic properties.”
Escalante, which started in 1991, owns golf properties across the U.S. and has hosted tournaments such as the Shell Houston Open and the Charles Schwab Cup. Matheson said that while golf is Escalante’s core business, it also has partnerships with hotels and owns real estate.
“We have some significant plans for the entire resort,” Matheson said, adding that it was too soon to disclose those plans.
Meanwhile, Richmond is readying for a second round of the Dominion Charity Classic, a tournament on the PGA’s Champions Tour that again will play out at the Country Club of Virginia. Sponsors for last year’s inaugural event included TowneBank, which has previously sponsored the LPGA event at Kingsmill.
Kingsmill has three golf courses, one of which has hosted LPGA and PGA tournaments. (Courtesy Xanterra)
One of Virginia’s best-known golf resorts has a new owner.
Earlier this week, Colorado-based Xanterra Parks & Resorts sold Kingsmill Resort in Williamsburg to Texas-based Escalante Golf.
The deal was announced Wednesday. The purchase price was $29.3 million, according to a report by the Virginia Gazette.
“We love the high-profile aspect of Williamsburg,” Escalante VP David Matheson said. “It fits well into our wheelhouse.”
Kingsmill originally was built by Anheuser-Busch in the 1970s on hundreds of acres along the James River. The resort has three golf courses, one of which hosts an LPGA tournament and used to host the PGA’s Michelob Championship until the early 2000s.
The 2,400-home resort also includes 15 tennis courts, four restaurants, a pool complex, a 16,000-square-foot conference center and a marina.
Kingsmill was built by Anheuser-Busch in the 1970s along the James River, an hour southwest of Richmond. (Scott K. Brown Photography)
Xanterra made minor changes to the resort, removing a par-3 course and installing a lazy river pool. It also sold home lots along some of the golf holes.
Matheson said Escalante has been interested in Kingsmill for some time. In 2010, it tried to buy the resort from Anheuser-Busch but was outbid by Xanterra.
“We had always had an affinity for the place,” said Matheson. “It’s one of those iconic properties.”
Escalante, which started in 1991, owns golf properties across the U.S. and has hosted tournaments such as the Shell Houston Open and the Charles Schwab Cup. Matheson said that while golf is Escalante’s core business, it also has partnerships with hotels and owns real estate.
“We have some significant plans for the entire resort,” Matheson said, adding that it was too soon to disclose those plans.
Meanwhile, Richmond is readying for a second round of the Dominion Charity Classic, a tournament on the PGA’s Champions Tour that again will play out at the Country Club of Virginia. Sponsors for last year’s inaugural event included TowneBank, which has previously sponsored the LPGA event at Kingsmill.