An investor group from China became the largest operator of golf courses with their latest purchase of more than 100 golf courses in Myrtle Beach, South Carolina, known as the seaside golf capital of the world, the China Daily reported.
According to the report, the majority of the assets of National Golf Management was acquired last month by the Founders Group International owned by Chinese investor Dan Liu.
The report said that the National Golf Management, the largest owner/operator in the area, owns 12 courses and an additional five operated through management.
The report added that Founders was not the only investor that acquired golf courses in the area, as other Chinese groups, families or individuals have purchased golf courses and related assets.
Charlotte Observer, a newspaper based in North Carolina, said that Chinese investors have bought 27 of the area's 80-plus public courses since June 2013, which accounts for about 25 percent of the region's golf industry.
Before Founders made the purchase, the company had acquired several other courses in the area.
Founders Group International is mainly owned by Dan Liu and Nick Dou, a New York resident, who is also the president of Founders Group.
"I was attracted by the golf, Myrtle Beach's close location to the ocean and the wonderful weather," Dou told China Daily. Dou added that not too many Chinese were familiar with Myrtle Beach.
According to Dou, the National Golf Management employs about 700 people.
"We have invested over $100 million in Myrtle Beach and we provide jobs and pay taxes," he said.
The report said that Chinese tourists started coming to the place about a year ago, adding to its annual six million visitors.
Tourists come to the place due to its mild climate and beaches with access to the Atlantic Ocean.
Many of the golf courses in the Myrtle Beach area, also known as the Grand Strand, are created by top designers. The place, with its 50 miniature courses, claims to be the miniature golf capital of the world.