With what it called "the aim of amplifying and facilitating" foreign investment in its tourism industry, Cuba has agreed to allow foreign investors to lease government-owned property for as long as 99 years.
Investors from all over the planet -- with the exception of the United States, of course -- have been begging Cuba to offer such extended leases for years, contending that the mere 50-year leases it had been offering were a major impediment to development. Now we'll see if those investors are willing to put their money where their mouths were.
Golf developers, you're on the clock. Cuba is rolling out the proverbial red carpet, inviting the development of the whole gamut of resort amenities: hotels, condos, time-share units, and, yes, golf courses.
Here's the mostly predictable reaction:
"I think this is huge," the CEO of Leisure Canada told the Associated Press. "This is probably one of the most significant moves in recent years relative to attracting foreign investment."
"It's exceedingly good news," said the CEO of Esencia Hotels and Resorts. "It's been a long road. But having said that, it's very important for the country that they get each step right, and this is a very big step for them."
As you probably know, both Leisure Canada and Esencia have a vested interest in policies related to tourism in Cuba. For what seems like forever, Leisure Canada has wanted to build a resort community with two "championship" golf courses on beachfront property in Jibacoa. For a slightly shorter time, Esencia has wanted to build a golf course as part of Carbonera Country Club in Varadero.
Outside the development community, the response to the news wasn't quite so enthusiastic.
"I don't think it's going to open a floodgate. I think it may turn on a tap so that people know there's water," said a senior policy adviser for the U.S.-Cuba Trade and Economic Council. "Making one change isn't a panacea to solving the issues that companies have in evaluating their opportunities in Cuba."
Maybe not, but give Cuba credit for cracking open the development door. The question now is, how long do we have to wait for the U.S. government to lift its trade embargo and allow people like Jack Nicklaus, Tom Doak, and Robert Trent Jones, Jr. to design some of Cuba's golf courses?
scotland A New Nine for Ballumbie Castle?
A Scottish home builder wants to add nine holes to Ballumbie Castle Golf Club, if it can get permission to build some houses on adjacent property.
Stewart Milne Homes is working with the club's owner, Stuart Harrod, on the proposal, which calls for 150 houses and an unspecified upgrade to the club's 10-year-old, 18-hole golf course.
To make their dreams come true, however, it appears that the partners will have to change some hearts and minds. At the plan's unveiling, several local residents didn't hesitate to share their objections with a reporter from the Courier.
"It seems to be they are just doing whatever they like," a neighbor griped. "Big business is walking over a few residents."
Oh, well, opinions can change.
Incidentally, Ballumbie Castle is in Dundee, just down the road from Carnoustie. The golf course was built in the shadow of an actual historic castle -- now mostly in ruins -- that dates from the 14th century.
wisconsin Golf's Value: $2.4 Billion
A team of economic researchers has determined that golf was worth $2.4 billion to the state of Wisconsin in 2008.
According to the Wisconsin Golf Economy Report, a study prepared by SRI International, golf generates more than 38,000 jobs in the state and provides $771.5 million worth of wages. Wisconsin's s nearly 500 golf facilities serve as the main drivers of the golf economy.
The results of the study were made public during a press conference held in conjunction with the PGA Championship at Whistling Straits.
“The impact of major tournaments like the 92nd PGA is great, but the impact of the thousands of golfers who come to play all of the other courses is even greater,” said the managing editor of Key Milwaukee Magazine in comments reported by BizTimes.
south sudan ... And the Golf Course Is a Real Beast
From the Department of Now We've Heard It All: The government of Southern Sudan has unveiled plans to rebuild all 10 of its state capitals in the shape of animals.
According to CNN, one of the cities will take the shape of a giraffe "with a golf course on its chest and a sewage treatment plant on its tail."
You won't be surprised to learn that the gambit is designed to draw attention to one of the poorest places on earth. Never mind that the money for the multibillion-dollar project will be difficult, probably impossible, to find. Heck, most of Southern Sudan doesn't yet have paved roads.
"The reaction has been very good," said the plan's creator, an undersecretary in the nation's ministry of housing and physical planning. "We have been getting calls from everywhere."
california Sherwood Country Club Gets an Upgrade
Jennifer Lopez and Marc Antony -- described by ShowBizSpy as "her runt of a husband" -- are eager to join Sherwood Country Club, the tony, star-filled digs in Thousand Oaks, California.
The couple, who have a nice new house in Hidden Hills, recently interviewed at the member-owned club. (David Murdock sold it to them in 2007.)
“Jennifer did all the talk. Marc barely said anything,” said a source. “It seemed clear that he didn’t want to mess up, like it was really important to her.”
News of the couple's interest in the club was first reported by In Touch Weekly. The Weekly also reported that Lopez hopes to join the board of Hidden Hills' homeowners’ association.
Will wonders never cease?
If I was telling this story through one of J Lo's songs, would it be "In a Fantasy" or "It's Not That Serious"?
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