Calgary firm presents plan to lease and run Revelstoke Golf Club

A Calgary-based management company wants to invest and turnaround the struggling Revelstoke Golf Club through a potential lease agreement with the city.

About 120 residents attended a consultation session on April 8 to hear from the operators of Citrus Capital Partners who have visions to revitalize the course into a feasible operation.

The club has struggled with declining member and visitor numbers and financial difficulties. The board recently succeeded in getting city council to write-off accumulated debt of $43,000, plus rent payments to the city have been suspended for the next two years.

The city is creating a task force to look at ways to deal with the issues. It will be the task force’s decision, along with community consultation and city input, whether a lease agreement is created with Citrus Capital Partners.

Citrus Capital Partners managing partner Larry Shelley (left) and team leader, hospitality and entertainment James Costello presented to a busy Revelstoke auditorium. Photo: Emily Kemp/Revelstoke Mountaineer.

Managing partner of Citrus, Larry Shelley, headed the information session and stressed the importance of creating a sustainable operation.

“Let it be heard we are not here to buy the golf course,” he said.

“We are here to potentially enter into a lease agreement with the City of Revelstoke that will define the way in which the golf course will operate going forward in a way that is constructive to the citizens of the city.”

Shelley presented concept plans to invest substantial into improving the club’s marketing presence plus building infrastructure and either renovating or rebuilding the clubhouse.

“Our objective would be to have an agreement that would allow us to invest over the next three years and divest a little bit at a time [for] a number of years, so that in 15 or 20 years from now we would recover our investment,” Shelley said.

The presentation noted that the entire North American golf industry has been struggling in the past years following over-development and declining interest in the sport. Revelstoke though is in a unique position as it is the only golf course in our city and it is based in a desirable mountain location and on a busy travel route next to the Trans-Canada.

The response to the session seemed positive though there were a number of questions regarding Citrus’s history. Attendees heard that the firm has previously managed two courses directly, was involved in two turnarounds, have board and committee experience on 13 courses and have designed and constructed one golf course.

Member for ten years, Wayne Martin said he trusted the city would not lead them astray.

“They’ll do their utmost to make sure it’s all above board,” he said.

Revelstoke Golf Club members Kip Holloway (left) and Bill Gallicano were excited about the proposed plans to revitalise the club. Photo: Emily Kemp/Revelstoke Mountaineer.

“I found it very informative I like what they offered,” Kip Holloway, a club member for 25 years, said. “I’m quite enthused about the whole thing.”

“I think it all sounded very well but as you know the devil is in the detail,” Bill Gallicano said. “If everything can work out fine, then it sounds very good but we shall see.”

Residential designer Glen O’Reilly was also hopeful of the proposed progress.

“If this doesn’t happen, in my view, the club has like maybe two years left and it’s going to die,” he said.

Shelley said the family-run company has currently no other investments or interests in Revelstoke and its plans for the course do not involve a casino. In his slide presentation, Shelley showed Citrus Capital Partners is involved in a variety of businesses, and casinos are one of them.