Exhicon Secures 76% Stake In Pinewoods Golf Club
The deal encompasses control over key facilities, including the Pinewoods Golf Club and academy, event arena, pro shops, cafés, golf lounges and golf simulator. Exhicon Events Media Solutions revealed that it has signed an MOU with Pinewoods Golf Club, to acquire a controlling 76 per cent stake in Pinewoods Golf Club LLP.
This acquisition includes management rights to manage two golf courses, covering a total of 73 acres, located at the Lodha Belmondo on the Mumbai-Pune Expressway and Blue Ridge, a 28-acre Golf Course in Hinjewadi, Pune. This move will position Exhicon as a key player in the Golf Tourism Industry facilitating corporate golf, sports events, live events, corporate branding and experiences such as ‘Movies Under the Sky’ to golf enthusiasts and corporate clients.
M. Q. Syed, Chairman & Managing Director, Exhicon said, “The flourishing Golf Tourism is being driven by factors such as increasing interest in golf as a recreational activity, the development of golf courses, and the expanding use of Golf Courses for Business & Entertainment Events”. Addressing the relatively limited presence of golf course management companies in India, Syed expressed confidence that Exhicon's venture into this domain will significantly influence the Golfing Tourism industry.
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