Strategic partner with the function of holding assets
Accordia Golf will transfer golf course assets that are mature and that generate stable earnings to Accordia Golf Trust, which it has set up to take on the function of holding golf course assets. After the sale of assets, Accordia Golf will continue to be involved in the operation and management of golf courses and will post earnings from contract management. Accordia Golf will thus secure a stable source of earnings and at the same time will help Accordia Golf Trust achieve stable growth.
A management commission agreement is an agreement between Accordia Golf and subsidiaries of Accordia Golf Trust to maintain and increase earnings from the golf course assets held by Accordia Golf Trust. Under the agreement, Accordia Golf will be involved in operation and management and will grant a license to use its brand and trademark.
Relationships with the business trust