Drive Shack Inc (DSHK)

[Enterprising Investor]

Drive Shack follows Topgolf into area with January debut (1/15/17)

second golf-entertainment center, Drive Shack, is teeing up to open in Central Florida just months after Topgolf.

Drive Shack has pegged January to open its 66,000-square-foot, three-story golf, restaurant and meeting center in Lake Nona, said Sara Yakin, the company’s chief operating officer.

The Lake Nona complex will be the debut location for the New York City-based company, which is also planning locations in Raleigh, Richmond, West Palm and Phoenix.

“We’re really excited to launch the brand in Orlando,” Yakin said. It’s a great area weather wise and has a lot of young families, as well as the tourist aspect.”

It’s under construction now at 7675 Lake Nona Blvd.

Drive Shack will have some big competition from recently opened Topgolf near International Drive. Both offer a gamified version of a driving range with targets and technology tracking the flight of balls. They also both offer food and drinks menus.

Yakin said details of Drive Shack’s exact driving range experience is still confidential and declined to give details on how it works or how similar it is to Topgolf’s system.

“There will be different types of games and a virtual aspect to it,” she said. “But we haven’t publicly launched it yet, so I can’t give the exact details.”

Details of the new Drive Shack came to light in September 2016 when plans were submitted to the City of Orlando. Executives with golf equipment maker TaylorMade also hinted at the new Drive Shack concept, but until now much has been kept secret.

TaylorMade is a partner with Drive Shack, offering clubs for customers.

What is known about Drive Shack is that it will have 90 golf bays on three stories, with a pro shop and bar.

According to Drive Shack’s regulatory filings, each new complex costs about $20 to $25 million to build.

Yakin said the menu will focus on “shareables” or appetizer-type items that can be shared with a group. There will also be some entree offerings.

Prices on the food and entertainment aspects are not available yet.

When it’s opened, Drive Shack will be one of a handful of sports and entertainment projects already built or in the works in the Lake Nona district, in the far southeast corner of Orlando.

The United States Tennis Association has its national campus there and the Orlando City Soccer Club is building a practice facility in the area.

This week more details were announced on a water sports park from German company Webit that includes dozens of giant inflatables on a lake.

Lake Nona’s developers Tavistock also said there are plans for a 120,00-square-foot beach volleyball venue at Lake Nona Resort.

http://www.orlandosentinel.com/business/consumer/os-bz-drive-shack-golfing-20171114-story.html