Despite a letter going out to all members the last week of May, Tapatio Springs officials are staying tight-lipped about the sale of The Club at Tapatio Springs.
The letter sent to members of the club on May 23 states the sale was set to finalize June 1 with the new managing agency, Crescent Hotels & Resorts, set to begin its day-to-day operations of the club Thursday.
“Northview Hotel Group, George Strait and Tom Cusick have decided to sell The Club at Tapatio Springs,” the letter from Tapatio Springs Managing Director Caleb DuBose read. “Crescent Hotels & Resorts has been selected as the new management company to oversee the day-to-day operations of The Club. It is anticipated that Northview’s last day of ownership will be June 1, 2022.”
Northview Hotel Group and Strait and Cusick – operating under the investment group Vaqueros del Mar – purchased the club from Michael Shalit in 2011 after Chapter 11 bankruptcy filings were entered by Tapatio Springs Resort owners. The property was put on the market for a couple years prior for $22 million with no prospective buyers, leading to the foreclosure sale to pay off a $15 million loan used by Shalit to purchase the property in 1998.
The Crescent hotel group will be the fourth owner of the club since its founding in 1981. The large corporation with main offices in Fairfax, Virginia, and Toronto, Ontario, in Canada has an expansive portfolio of hotels and resorts across the county, including the Horseshoe Bay Resort, the Hall Arts Hotel in Dallas, the Doubletree by Hilton Hotel & Suites in Houston, three hotels in The Colony, Texas, and numerous locations from New York to Colorado and up to Canada.
While the reason for the sale has yet to be announced, the local resort has seen its fair share of difficult times since its sellers formally bought the property in 2012. In 2015, record-breaking rainfalls caused major flooding at the resort, even causing an SUV to be overtaken by floodwaters and carried downstream. Then, in November 2017, a fire destroyed the clubhouse and nearly burned the structure to the ground, leading to millions being poured into the new clubhouse that houses La Cascada Table and Bar restaurant.
Finally, the clubhouse, as many businesses were, was heavily impacted by the COVID-19 pandemic as the not-long-open restaurant had to shutter its doors and the number of golfers had to be limited due to state orders.
Even though officials are saying nothing about what changes, if any, the club will see under new ownership, DuBose said he will continue in his role under the Crescent hotel group.
“I will remain as managing director of The Club at Tapatio following the change of ownership next month,” DuBose wrote. “My team and I will ensure a smooth transition for you and your fellow members. I know that there are many great plans underway to improve the club in the coming months which will be shared in the near future.”
Little is known about the plans for the club once the Crescent hotel group takes over, but just as Northview Hotel Group stated when it took over the property less than a decade ago, the new owners seem to have some big improvements envisioned.
“Northview (Hotel Group), along with George (Strait) and Tom (Cusick), are thrilled with the accomplishments achieved under our ownership in conjunction with the club’s operating team members,” DuBose said in his letter to members. “It seems like only yesterday when we were able to unveil our world-class clubhouse, including La Cascada Table and Bar, an expanded pro shop, luxury locker rooms and meeting rooms. But most notably, we are very proud of the many contributions that Tapatio, together with our community, has made to the military families through donations of over $11 million.”
When contacted by The Star, Tapatio officials opted not to comment on the sale or the future of the establishment.
Comment
Comments