International Golf Resort Management (IGRM) and Tourism International Consulting (TIC) have formed a joint venture company specialising in the management and design of golf courses in Spain and Portugal.

The new company’s primary objective is to identify commercial opportunities within the golf sector and hotel industry which can be operated under management agreements while also considering other opportunities to lease or purchase properties.

The service is designed for owners and financial institutions whose main objective it is to sell a golf course, resort or hotel. IGRM chief executive Michael Longshaw said: “The downturn in the golf industry followed by the world economic crisis has hit Spain and Portugal especially hard and the coastal economies which are so reliant on golf and residential tourism have suffered tremendously. Both countries have many good hotels and golf courses and given the climate, access to all parts of Europe and an excellent infrastructure there is a major opportunity to acquire viable businesses and maximise their potential through professional management and operations.”

Discussions in coastal areas are already in progress while potential opportunities in inland Spain and Portugal are also underway.