FIVE IRON GOLF ANNOUNCES INVESTMENT FROM ENLIGHTENED HOSPITALITY INVESTMENTS (EHI) AND UNVEILS NEW FLAGSHIP LOCATION
New York, NY, March 12, 2024 (GLOBE NEWSWIRE) -- Five Iron Golf, the nation’s premier indoor golf and entertainment experience, announces a $20 million minority investment from Enlightened Hospitality Investments (EHI), along with its new flagship location at Grand Central Station in New York City.
EHI is a pioneering investment firm that fuels growth in people-driven companies. Co-Founder and Managing Partner, Danny Meyer, along with Mark Leavitt, Pete Mavrovitis and Harry Seherr-Thoss, brings their unparalleled expertise and experience in hospitality and consumer-facing businesses to the partnership. The investment marks a financial milestone while also aligning EHI with Five Iron Golf’s commitment to providing a unique blend of golf and entertainment through expansion of flagship locations and franchising opportunities.
Widely recognized as a trailblazer in the hospitality industry, Meyer is the Founder and Executive Chairman of Union Square Hospitality Group (USHG), which owns and operates award-winning New York City restaurants such as Union Square Cafe, Gramercy Tavern, and The Modern, and is also the Founder and Chairman of Shake Shack. As part of the investment, EHI Co-Founder and Managing Partner Peter Mavrovitis will join Five Iron's Board of Directors, providing strategic guidance to this partnership’s direction.
"We are excited to partner with Five Iron Golf to further enhance their innovative blend of golf, hospitality, and good food," said Meyer. "This investment is a testament to our belief in Five Iron’s vision and commitment to opening the world of golf both to enthusiasts and avid amateurs who want to practice their inner love for golf without having to visit the links."
Jared Solomon, CEO and Co-Founder of Five Iron Golf, expressed his enthusiasm for the support from EHI, “This partnership underscores our shared vision for revolutionizing the golf entertainment industry. With this backing, we are poised to accelerate our growth, enhance our offerings, and continue delivering an unparalleled experience for golf enthusiasts and newcomers alike. Together with Danny and EHI, we are embarking on an exhilarating chapter of innovation, expansion, and unforgettable moments on the green."
Five Iron Golf Grand Central marks the company's sixth New York location, introducing an expansive 16,390-square-foot space with 15 golf simulators, 2 full-service bars, and lounge areas featuring activities like air hockey, billiards, and shuffleboard. Nora Dunnan, Co-founder and Chief Development Officer, stated, "We're thrilled to unveil our flagship at Grand Central, marking a transformative chapter for Five Iron. The investment from EHI propels us into an era of growth and innovation. Positioned in the heart of midtown, our flagship promises an exceptional experience for golf enthusiasts, corporate entertainment, and an unparalleled sports bar." The Grand Central flagship location is now open at 101 Park Avenue, Floor 3, New York, NY 10017.
About Five Iron Golf
Five Iron Golf, a leader in indoor golf and entertainment, boasts a global presence with 24 locations spanning 13 states and 4 countries. Recognized for its cutting-edge simulators, premium amenities, top-tier instruction, and a lively community feel, Five Iron Golf provides a dynamic atmosphere for playing, practicing, and partying. By seamlessly integrating technology, social engagement, and competitive spirit, Five Iron Golf is reshaping the indoor golf experience, with something for everyone. Beyond golf, Five Iron serves as the ideal space for hosting private celebrations and corporate gatherings alike. Tee up good times at fiveirongolf.com.
About EHI
Enlightened Hospitality Investments (EHI) is a value-added strategic investor formed to leverage the brands, businesses, and team of Union Square Hospitality Group to identify growth potential and investment opportunities in both internal and outside ventures. EHI partners with portfolio companies to provide strategic direction, operational experience, increased visibility, and access to relationships, resulting in significant value creation for all stakeholders. For additional information on Enlightened Hospitality Investments, please visit www.ehi.fund.
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Danielle Kindelmann Five Iron Golf 6312521208 danielle.kindelmann@fiveirongolf.com Aaron Dorfman Lede 5166596826 fiveirongolf@ledecompany.com
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