Opsrey Ridge golf course closing - will become part of Four Seasons resort

[Tri-Circle-D 2,059]

in the interest of putting it out for those that aren't aware of it, while Disney owns the courses, they don't operate them. They turned operation of the courses over to Arnold Palmer Golf Co. a few years ago. Everyone at those courses works for APG.

 

It appears the Disney hasn't owned the Osprey Ridge golf course since 2009.

 

TCD

[Lou... 3,118]

It appears the Disney hasn't owned the Osprey Ridge golf course since 2009.

 

TCD

 

I guess it must have been announced internally in 2009, because when this latest announcement was made, I was confused because somehow I knew the Osprey Ridge Course was part of the project when it was initially announced.

[Tri-Circle-D 2,059]

I guess it must have been announced internally in 2009, because when this latest announcement was made, I was confused because somehow I knew the Osprey Ridge Course was part of the project when it was initially announced.

 

The thing is, though, that Osprey Ridge is indistinguishable from the other Disney Golf Courses.

 

Just now, I went on the official Disney site and searched for golf courses.  I was offered five to choose from, one of which is Osprey Ridge:

 

 

Obviously, this will be changing soon.  But, there has been no change in operation of the course since it was sold in 2009.  At least nothing apparent to the general public.

 

Note, it's called Disney's Osprey Ridge Golf Course on the Disney site.

 

Liars.

 

TCD

[Tri-Circle-D 2,059]

Just for giggles, I went back and found the original text of an email I received from Disney via something they call Mouse Mail for Community Leaders back in March, 2007.  That's not a typo.  It was 2007.  Over six years ago now:

 

LUXURY RESORT AND GOLF COMMUNITY

Along the northeast border of Walt Disney World Resort, Disney plans to convert its Eagle Pines and Osprey Ridge golf courses into a luxury resort and golf community. The development will include a luxury hotel, 18-hole championship golf course, single- and multi-family vacation homes and fractional ownership vacation homes.

Disney entered into a letter of intent with Four Seasons Hotels and Resorts to bring these two complementary and respected brands together to anchor a new world-class family resort destination.

Four Seasons is dedicated to perfecting the travel experience through continuous innovation and the highest standards of hospitality. Currently with 74 hotels in 31 countries, and more than 25 properties under development, Four Seasons continues to lead the hospitality industry with innovative enhancements, making business travel easier and leisure travel more rewarding. The deeply instilled Four Seasons culture is personified in its employees – people who share a single focus and are inspired to offer great service. Four Seasons currently operates two properties in Florida, Four Seasons Hotel Miami and the Four Seasons Resort Palm Beach.

"The Resort will have all the ingredients needed to create memorable vacations: gracious and caring staff; beautiful surroundings that are thoughtfully designed; and services and amenities that make every experience one to cherish," said Kathleen Taylor, president and chief operating officer, Four Seasons Hotels and Resorts. "It's an honor to collaborate with Walt Disney World Resort on this project. Walt Disney's reputation for service excellence and exceptional family entertainment amenities is an ideal complement to the values of Four Seasons. Central Florida will be a valuable addition to our family of resorts, particularly since this is a destination our guests already enjoy."

Once terms of the project are finalized, site work could begin later this year, with a hotel opening forecasted for 2010.
 

I didn't notice it at the time, but the original announcement does state that both the Eagle Pines and the Osprey Ridge courses would be part of the deal.  This announcement made no mention of Golden Oaks, and it seemed at the time that the whole project would be built by Four Seasons.

 

I guess they were a bit off about that forecasted 2010 opening date, though.

 

TCD

[Lou... 3,118]

But, there has been no change in operation of the course since it was sold in 2009.  

 

That's correct, APG has been operating it as a Disney course.

 

I think it because, why would the new owners want the responsibility and capital outlay of operating it when they didn't have that many Golden Oak or Four Seasons Resort guests to use it.

It appears that they held off taking it over until they had to. It was a win, win for both parties.  It makes sense to me.

[Tri-Circle-D 2,059]

That's correct, APG has been operating it as a Disney course.

 

I think it because, why would the new owners want the responsibility and capital outlay of operating it when they didn't have that many Golden Oak or Four Seasons Resort guests to use it.

It appears that they held off taking it over until they had to. It was a win, win for both parties.  It makes sense to me.

 

That makes sense to me too.

 

What surprised me in all of this is that I wrongly concluded a while back that the deal went differently than it had been originally announced and that Disney kept Osprey Ridge.  All this time, I felt the Fort was safe because there was a big buffer of Disney owned land between the Fort and the Four Seasons.  Now, I know there is no buffer.  The Four Seasons project directly abuts the Fort.  What if they hire competent security guards?  How am I supposed to sneak into the lazy river?

 

TCD

[Lou... 3,118]

What surprised me in all of this is that I wrongly concluded a while back that the deal went differently than it had been originally announced and that Disney kept Osprey Ridge.  

 

The project has gone through changes and some bumps in the road. At one point the Four Seasons resort portion, was in jeopardy of going forward due to, I guess, the economy.

[DaveInTN 3,247]

It makes sense that TCD's email from March 2007 indicates the project would be completed in 2010.  At that time money was pretty easily obtained for real estate transactions and construction projects.  However, the securitization market collapsed in August 2007, and with it the financing for many deals such as this one.  There are several articles online from mid-2011 discussing the finalization of a credit facility for this project, including quotes from Larry Silverstein discussing the difficulties they had in obtaining credit.  That would directly relate to the 2007 freezing of the credit markets, and the subsequent recession that officially began in 2008.  They are fortunate that they eventually got it done, although I guarantee the credit terms they ended up with are not nearly as good as what they hoped for in 2007.   

[AC in A2......Aaron 693]

I still need to figure out a way to take all the younglings to the lazy river without swim diapers......rules be damned.

[Katman1356...Jason 1,140]

I still need to figure out a way to take all the younglings to the lazy river without swim diapers......rules be damned.

 

Boy that Tag fairy is quick these days. Less than 28 minutes to change your tag. 

[AC in A2......Aaron 693]

Boy that Tag fairy is quick these days. Less than 28 minutes to change your tag. 

 

That was quick.  I am impressed.