On June 27th, Patience Capital Group (PCG) announced the acquisition of the Nagano Keikyu Country Club golf course in Nagano City from Keikyu Corporation and its subsidiary, Nagano Keikyu Country Club (Nagano Keikyu CC).
Already operating ski resorts in Iiyama City, Nagano Prefecture, and Myoko City, Niigata Prefecture, PCG plans to leverage this acquisition to enhance regional tourism.
On-site teaser drone video courtesy of Nagano Keikyu CC website.
The golf course, owned by Keikyu and operated by Nagano Keikyu CC, will see its business operations transferred to Patience Golf Club (Nagano City), a PCG group company, effective September 1, 2024.
The course will be renamed, although the new name is yet to be announced. The purchase price remains undisclosed.
Patience Realty is a proud group company of Patience Capital Group
Located about 30 minutes by car from JR Nagano Station, the 160-hectare course is renowned for its elevation of over 900 meters, attracting a diverse clientele, including members and local residents.
For the fiscal year ending March 2024, the course generated ¥259 million in operating revenue for Keikyu.
Ken Chan, founder and CEO / CIO of PCG
According to PCG’s press release, Ken Chan said “We are excited to acquire the Nagano Keikyu Country Club, given its strong market positioning, and the thriving user-demand for outdoor leisure activities in this post-pandemic era. its proximity to our other hospitality assets will further enhance the upside potential for our Myoko resort development project.”
Following the transfer, the Nagano Keikyu Country Club will serve as a strategic base for PCG Group's broader tourism promotion efforts. These efforts focus on northern Nagano Prefecture and Myoko City, Niigata Prefecture.
The goal is to create synergies with other PCG Group investments in the area, including the Madarao Kogen Ski Resort and Myoko Suginohara Ski Resort.
PCG is dedicated to contributing to regional revitalization in Japan by making impactful investments in attractive tourism projects and content. Through these initiatives, PCG aims to bring new vitality to local communities and support their growth.
"We are committed to contributing to regional revitalization by investing in Japan's rich tourism resources," said Mr. Chan, who is also the president of Patience Golf Club. "Our goal is to bring new energy and growth to local communities."
The new name of the golf course will be announced with its reopening on September 1, 2024.
Sources:
PCG English Language Press Release
