Ocianico group sold off

[Tashyboy]

Reet for those of you prepared to follow my boring stories. Am out in the iberian pennisular entertaing the locals in me speedos. Anyway got a cracking deal on a Couple of courses and the the delightful young English lady was telling me that the oceanico group which has some gorgeous courses has been flogged off to a group which is fronted by an english guy. How can they be struggling when there courses are rammed.

 

[Hosel Fade]

I'd hazard a guess that they have been selling the tee times to tour operators too cheaply (if indeed the courses are rammed)

 

[351DRIVER]

They have had 100s of millions in debt for almost a decade

Overdeveloped when golf peaked 10 years or so ago and struggling ever since

I know at one point they had over 500million quids worth of debt, got to sell a lot of tee times to pay that off

 

[TheDiablo]

Got back from there last night. Courses not rammed, busy but no waiting really. And the bar, restaurant etc was empty, even on Ryder Cup Sunday. Rest of resort empty too, sat by pool one afternoon on our own.

 

[SammmeBee]

Reet for those of you prepared to follow my boring stories. Am out in the iberian pennisular entertaing the locals in me speedos. Anyway got a cracking deal on a Couple of courses and the the delightful young English lady was telling me that the oceanico group which has some gorgeous courses has been flogged off to a group which is fronted by an english guy. How can they be struggling when there courses are rammed.

Interest rates......

 

[Luca4]

Was told when out there earlier this year, by one of the local drivers, that is was a EPL player heading it up, she thought John Terry but wasn't sure.

 

[louise_a]

The courses have certainly always been busy when I have been there.

 

[Canary_Yellow]

It's John Terry's agent that is heading it up apparently.