Renault Winery Owners Purchase Little Egg Harbor Country Club
Accountable Equity, a private equity group, purchased the 200-acre property for $6.5 million, according to Philadelphia Business Journal. Josh McCallen, president and CEO of Accountable Equity took over Renault Winery in Egg Harbor City in 2018.
Accountable Equity also owns the Kent Island Resort in Stevensville, MD.
Sea Oaks Country Club and Golf Resort had a history of financial troubles, filing for Chapter 11 bankruptcy with more than $15 million in debt and then closing during the pandemic.
McCallen sees an opportunity with Sea Oaks, which will be rebranded as LBI National Golf & Resort. He points to $1.4 million in advance memberships for the resort and calls it an "in-demand -property."
McCallen told PBJ that half of the resort's business will come from 600 golf community homes in close proximity to the club and the other half from well-to-do vacationers on Long Beach Island.
The property includes a 194-acre golf course, a 31-room boutique hotel, a 35,000 sq. ft. clubhouse with restaurant space, and an additional 15,000 sq. ft. of space for events, meetings, and functions.
McCallen's company Vivamee Hospitality will handle hospitality services for the property as it does with the company's other properties.
Accountable Equity is planning $4.5 million in renovations to make the property a "world-class wedding venue," plus improvements to hotel rooms, and two restaurants, one of which will offer farm-to-table dining.
LBI National Golf will employ 50 people when it reopens its golf course on June 1st and plans to have 175 employees when the resort is completely open later this year.