Drive shack professional#

The Puttery concept is miniature golf for adults to include adult beverages and food. The company recently launched a new concept called Puttery that we see driving this company to new highs. The pandemic put a tailwind into the golfing industry and Drive Shack (NYSE: DS)but that's not what has us excited now. Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.Puttery Expansion To Push Drive Shack Higher The story was updated with Drive Shack’s HQ transition on May 13, 2021.

to clarify’s The Puttery’s business model that combines an auto-scoring technology combined with mini golf and link to a source publication, Golf Inc.Ĭlarification: The auto-scoring technology of Topgolf is called Toptracer, which is proprietary to the Topgolf brand. “I am personally making a financial investment in the growth of future Puttery venues across the country and can’t wait to debut our first Puttery in Dallas this summer.” “Once COVID-19 is under control, the ability to combine high-tech mini golf with a high-quality food-and-beverage menu will make Puttery a great experience for any social gathering,” said McIlroy in a statement. While traditional Drive Shack venues cost $25 to $40 million, Puttery venues cost $7 to $11 million, which contributes to an increase in development yields from 10 to 20 percent for Drive Shack venues to 25 to 40 percent for Puttery venues.ĭrive Shack’s growth plans also go beyond this summer, having previously stated that it hopes to have five Puttery locations by the end of this year and ten by the end of 2022.

The company has said that indoor putting venues decrease the cyclicality of its originally more seasonal demand and require less space, which in turn provides access to more densely populated areas, improve capital efficiency, and more. The creation of the Puttery brand is a strategic one, influenced by the disruption in the golfing industry as a result of the COVID-19 pandemic, as well as by increased demand for social and active entertainment options, according to Drive Shack. READ NEXT: Rory McIlroy Invests in Dallas-Based Drive Shack’s Puttery McIlroy became interested in the idea of a golf-oriented entertainment option for adults, leading him to enter into a non-binding agreement with Drive Shack to help create, invest in, and launch Puttery, according to a press release.

Drive shack professional#

At the same time, the company announced both its expansion into the mini-golf industry and its new partnership with professional golfer Rory McIlory, a four-time Major Champion, two-time FedEx Cup winner, and first place ranking holder of the Official World Golf Ranking. Last month, Santa Monica, California-based Drive Shack had an initial public offering during which it met its goal of selling $50 million in stock. “ It’s basically Topgolf meets mini golf,” writes Hil Anderson in Golf Inc. The first of the venues is set to open this summer at Grandscape in The Colony just north of Dallas. The Puttery will combine auto-scoring technology with the social nature of mini golf in an upscale, lively cocktail environment. What was once the world’s largest golf course management company, now Drive Shack, is moving forward with plans to debut its brand of miniature golf venues that will include tech-enhanced indoor putting, entertainment, and upscale food and beverages.

10, it features wildly creative 9-hole “golf courses” on two floors, three bars, an outdoor terrace, and multiple lounges and seating areas. Take a photo tour of Drive Shack’s debut Puttery location at Grandscape in The Colony, just north of Dallas. Drive Shack CFO Michael Nichols noted the move in a Q1 analyst call.

10, 2021ĭrive Shack announced the relocation of its headquarters to Dallas in May: It’s another in a string of publicly traded East Coast companies moving here, reports the DBJ.