Leisurecorp, formerly Istithmar Leisure, is a
subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...
of
Dubai World, established in 2006, that invests in sports and leisure facilities, with
golf being a particular focus.
Sites
Among the sites owned by Leisurecorp are
PGA European Tour venues Pearl Valley Golf Estates in
South Africa, and
Jumeirah Golf Estates
Jumeirah Golf Estates is a luxury residential golf community that is located along E 311 road (United Arab Emirates), in Dubai, United Arab Emirates. It is rated among the top 10 lifestyle estates in the world.
Jumeirah Golf Estates consists of o ...
in Dubai. It bought the
Turnberry Resort in
Scotland in October 2008, which hosted the 2009
Open Championship,
and sold it to
Donald Trump in April 2014. Leisurecorp also has major shareholdings in Island Global Yachting, Troon Golf, GPS Industries, and
Snowmass, Colorado.
History
In November 2007, Leisurecorp agreed a major partnership deal with the PGA European Tour.
The highlight of the deal saw the creation of the season ending
Dubai World Championship, held annually on the Earth Course at Jumeirah Golf Estates. The
US$
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...
10 million prize fund makes it the world's richest golf tournament. In addition, the European Tour Order of Merit was rebranded as the Race to Dubai, with an additional US$10 million bonus fund, and the top 60 players qualifying for the season finale.
The PGA European Tour's International Headquarters were also moved to Jumeirah Golf Estates in 2009, and from the 2010 season, the European Tour schedule will open and close at Leisurecorp venues, starting with the
South African Open at Pearl Valley and finishing with the Dubai World Championship. There are also plans for the
European Open, a regular tour event, to be moved and make Turnberry its permanent home, although there are reports that this could affect the venues place on the Open Championship rota.
Having developed this close relationship with the PGA European Tour, Leisurecorp hopes that in the future it may be able to stage the
Ryder Cup
The Ryder Cup is a biennial men's golf competition between teams from Europe and the United States. The competition is contested every two years with the venue alternating between courses in the United States and Europe. The Ryder Cup is named af ...
in Dubai.
References
External links
Official websiteCompany Overview of Leisurecorp LLC
Entertainment companies established in 2006
Companies based in Dubai
Investment companies of the United Arab Emirates
Dubai World
Emirati companies established in 2006
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