What do you get when you combine a private club founded in 1894 and a private club on the 49th floor of One Shell Plaza with a 360 degree view of the Houston skyline? You get a mouthwatering combination of the oldest club in Houston and a multimillion dollar renovation of a club in one of the most succulent locations.
According to the press release, the rich traditions and prominence of both clubs will be honored and respected when the Houston Club and the Plaza Club complete their merger.
The Houston Club, founded in 1894, will relocate to the Plaza Club location. The name of the merged organization will be the Houston Club.
It was not mentioned why the two clubs are merging; however from an outside perspective it appears to be a friendly merger. Physically, the main result will apparently be the $3.5 million renovation and reinvention of the One Shell Plaza location and the relocation of the Houston Club to the One Shell Plaza location.
The Houston Club is a member-owned private club, according to its website. The Plaza Club is affiliated with Dallas-based ClubCorp, which promotes itself as the world leader in private clubs. According to the Plaza Club website, the club does not appear to be member-owned.
As there seem to be two different ownership profiles, one could assume that there are numerous details involved in this merger.
The members of both clubs are being reassured that they will enjoy "enhanced access benefits and privileges with this future merged-club structure." Both clubs are promoting the merger in a positive light so one could assume that their executive leadership and boards have taken the time to evaluate the various merger options.
As we have mentioned previously, if your company is one of the many companies planning on making some major changes, you may consider speaking with a knowledgeable business law attorney. He or she can assist you with your large transaction process.
Source: chron.com, "Houston Club and Plaza club are merging," Nancy Sarnof, June 29, 2012