Photo: Doral Gold Resort & Spa
Donald Trump’s Trump organisation last week agreed to purchase the Doral Golf and Spa Resort in Miami, the home of the WGC–Cadillac Championship, for $170 million in a bankruptcy sale (via Golf Channel).The resort’s current owners, hedge fund Paulson & Co. and realty company Winthrop Realty Trust, filed for Chapter 11 and bankruptcy protection earlier this year to try and save it.
An auction will still be held for the resort, but at this point it’s unlikely that anyone will make a better bid. If Trump wins and takes over the property in 2012, as expected, he’ll reportedly spend around $150 million on improvements.
The property includes a 700-room resort and four golf courses.
The hotel has four golf courses: the Blue Monster, the nine-hole Red, the new Jim McLean Signature Course, and the Par-3 course.
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