Paradise Valley Golf Course - Photo by Bob Schneider

By Charles Lefebvre

Paradise Valley Golf Course seeking new investor

Dec 30, 2019 | 4:33 PM

MEDICINE HAT, AB — A Medicine Hat golf course revealed they are seeking new investors to help keep the course running.

In a newsletter sent out to subscribers via email, and obtained by CHAT Television, Paradise Valley Golf Course revealed they will be listing the course for sale this week, noting the golf industry has faced challenges in recent years.

“This has led some banks, including ours, to change lending guidelines and eliminate golf courses from their portfolio,” the letter, titled ‘Trouble in Paradise? Turning a Challenge into an Opportunity’ reads.

“Paradise Valley is in jeopardy unless we can quickly find a new lending partner or investor. In the meantime, we are being forced to list the course for sale immediately to pay out our business loan.”

HERE'S WHAT TO KNOW

Summer pool hours extended and discounts applied as Big Marble Go Centre upgrades start

Apr 18, 2024

Medicine Hat company drawing in clients with witty signage

Apr 16, 2024

Medicine Hat College holding event for missing and murdered Indigenous women awareness day

Apr 16, 2024

Co-owner Dawn Postnikoff, speaking over the phone from British Columbia, says the primary issue impacting golf courses is a decline in usage.

“We’ve worked really hard to bring in additional revenue,” she said. “Rounds have been dropping. There’s a lot of things vying for peoples’ attention these days, and keeping golfers active is a challenge. We’ve looked at food and beverage, we’ve looked at events, we’ve looked at catering, we ran the concession at the curling rink for two years. We’ve always looked at different ways to keep this business successful, rather than just being focused on golf.”

She adds because of the issues facing the golf industry, some banks are no longer interested in financing golf courses.

“They’re more cautious in this economic environment that they would have been five or 10 years ago,” she said.

In addition, the golf course is on leased land from the City of Medicine Hat, which has posed challenges in finding potential buyers for the course in the past.

Despite the challenges, Postnikoff notes it was a good year for Paradise Valley, noting the course has received strong community support since it opened its doors.

“We opened early, we had a good strong year, so business itself it as usual,” she said. “It’s just a matter of finding either and investor, or somebody who wants to take over the reins and take it to the next level before the next season gets kicked off.”

Postnikoff wants to reassure the community that the golf course, which has been running since 1982, will not be shutting down, and expects to be open for the 2020 season in the middle of March.

“We’re not going to be shutting down, we just need to have a short-term solution to take it to the next level,” she said.

Postnikoff says she is putting the final touches on a crowdfunding plan for additional development for Paradise Valley, and expects to release more details in the next six weeks. They’re also in discussions with the city regarding its long-term lease.

Those interested in helping can contact Postnikoff by email at dawn@paradisevalleypar3.com.