How the westwood Golf Course Became a Billion Dollar Franchise for the Westwood Group
Westwood Golf Club became the nation’s largest privately held golf resort when it purchased the land for $5.3 billion in 2016, which is when it was still a public entity.
The deal was made public by the state in 2016.
The $1.3-billion acquisition of the land was financed by the Federal Housing Finance Agency, which made sure the property was in good condition.
The property includes two golf courses, two golf course hotels, a golf course parking lot, an indoor pool and a golf club clubhouse.
Westwood bought the land in the late 1990s, but in the 2000s, it became an asset for the company, according to Westwood spokeswoman Andrea Hagen.
The acquisition of Westwood also created a new private ownership group, the Westwoods Foundation.
The foundation was founded in 2015 by former Westwood executives David Westwood, John F. Williams and Steve Buscemi.
The new Westwood Foundation is chaired by Westwood chairman and CEO Joe Roth, who was the CEO of Westinghouse, the company that developed the nuclear reactor that powers the company.
The Westwood family owns stakes in several major businesses, including Westwood Resorts, which operates three golf courses and has been in business for 40 years.
Westinghouses shares rose 3.3% in the fourth quarter of 2018.
“We are proud to share our heritage with our current and future partners, including the new Westwoods foundation, and to bring this great facility to our community,” Roth said in a statement.
Roth, who took over as CEO in August, is the son of the late former Westing house CEO John Roth.
Westwood also owns the former W.G. Pritzker International Airport, which opened in 2008.
The airport serves Chicago, New York, Philadelphia, Los Angeles and other areas.
The purchase price was $1 billion, according the company’s statement.
Westwoods is not a big investor in other major golf courses.
In 2016, it bought a majority stake in the U.S. Golf Association for $200 million, a sum that will not be made public until the 2019 election.
This is the first time that Westwood has purchased a major golf course, according at the company website.
In addition to its Westwood golf properties, the new foundation will invest in “small-scale recreational facilities, a youth development center and a new public health and wellness facility,” according to the company statement.
The group also announced that it will invest $50 million in a “green space in the heart of the community.”