Drive Shack Inc. (DS, Financial), the owner and operator of golf-related leisure and entertainment businesses, is spreading holiday cheer with numerous seasonal activities available at both its Drive Shack and recently introduced Puttery venues through the new year.
The company’s portfolio of concepts also includes American Golf.
Drive Shack has carved a niche with competitive, social entertainment through golf-related leisure and large-format entertainment venues that combine gaming and premier golf technology with a chef-inspired menu, craft cocktails and year-round social events. The company operates four venues in Florida, North Carolina and Virginia.
Puttery is a modern spin on putting, redefining the game within an immersive experience and innovative technology as guests move from one course to the next. The high-energy atmosphere combines curated culinary offerings, inventive craft cocktails and a lively bar area. Locations are under development in Washington D.C., Miami, Houston and Philadelphia.
Puttery’s Charlotte, North Carolina location will open to the public this Friday, Dec. 17, and remains a prime expansion vehicle. During the last week of November, the concept debuted in Philadelphia in a bustling area between Old Kensington and Fishtown, a short train ride from Center City.
“Following Puttery’s successful debut in The Colony, Texas, we’re beyond excited to open our second venue in Charlotte,” DSI President and CEO Hana Khouri said. “Charlotte is already known for its epic nightlife and culinary scenes. From competitive socializing to curated culinary options and inventive craft cocktails, Puttery Charlotte offers everything you need to have a great time.”
The Philadelphia location is part of a mixed-use retail redevelopment project in one of the area’s most historic neighborhoods. The 20,000-square-foot venue will feature three uniquely themed, nine-hole putting courses, multiple bars and a chef-driven menu and incredible cocktail program, adding to Fishtown’s already booming nightlife and culinary scenes.
The third quarter was a historic one for the company due to the launch of Puttery. "Our first Puttery venue debuted in our home market on Sept. 3 in The Colony, Texas, one of the most exciting entertainment districts in North Texas,” Khouri said in a release. “Guests are responding favorably to our inaugural Puttery and the feedback on their experience remains overwhelmingly positive. I am beyond proud of the countless team members that worked hard to deliver our first venue and I thank them for their unmatched dedication and commitment to bring our Puttery brand and vision to life. We look forward to opening additional Puttery venues in the coming months, including our Charlotte location which is planned to open later this quarter."
Khouri continued, "We delivered strong results for the third quarter, including the highest quarterly revenue in three years and our fifth consecutive quarter of positive adjusted EBITDA. Our American Golf and Drive Shack businesses have largely returned to pre-COVID levels, and our events business continues to meaningfully increase as we near the important, key holiday months. 2021 has been an instrumental year and we remain centered on our strategic priorities to drive growth and profitability this year and beyond."
