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 Ty Warner Acquires Rancho San Marcos Golf
Course from Premier Golf International

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SANTA BARBARA, CA – July 15, 2005   - Today, local property owner Ty Warner purchased Rancho San Marcos Golf Course from Premier Golf International, a continued sign of Mr. Warner’s devotion to invest in properties that define the community for the betterment of the region and its residents.

Rancho San Marcos has suffered financially in recent years.  Mr. Warner seeks to improve the beauty and ecological-friendliness of the course through new advancements in environmental maintenance procedures, as well as enhance the golf experience for those who use the course. 

“This is a course that adds tremendously to the tranquil, bucolic setting of the Santa Ynez Valley area,” states Ty Warner.  “It is our goal to help the course fulfill its anticipated potential, create a better experience for golfers, while better protecting the natural environment and adhering to the needs and concerns of local residents.”

Ty Warner adds that also owning the Sandpiper Golf Course and the Montecito Country Club provides tremendous opportunity to make golf in Santa Barbara County dynamic and enjoyable.  “As we look to the individual needs of each course we are also considering a more holistic vision that ensures our courses compliment each other and provide a wide range of recreational experiences for local and visiting golfers,” says Ty Warner.

Prior to selling the course, the previous owner filed an application with the County to expand the existing clubhouse, create a teaching facility, add locker rooms, and to obtain a permit to sell beer and wine.  On June 14, 2005, the County released a Draft Supplemental Environmental Impact Report for public comment. Ty Warner and his team are very interested on reviewing the comments received by both the public and the County Planning & Development department on the proposed improvements to the course. 

“We are in a ‘getting to know you’ phase on several levels with this course,” stated Greg Rice, representative for Ty Warner Hotels and Resorts.  “We are familiarizing our self with the proposed plan that was created by the previous owners, and we look forward to getting acquainted with what the County and the local community think about the plan and any ways they see to improve Rancho San Marcos.”  Greg Rice adds that they are also exploring opportunities in creating a golf academy with facilities at both Sandpiper Golf Course and Rancho San Marcos.

Improved landscape and maintenance alone could lead to the much-needed increase in business.    Ty Warner has already brought on the original golf course architect, Robert Trent Jones II to assess the course in its current condition.   Trent Jones’ design firm considers Rancho San Marcos one of the best courses they’ve ever done, and their initial assessments concluded that mostly minor maintenance adjustments will foster immediate fixes to the course.  Additionally, in the span of just a few years, there have been major advancements by way of more ecologically friendly ways to maintain the course. Ty Warner plans to implement these measures as well as a comprehensive Water Management plan that will reduce water waste as soon as possible.

Responding to the overall approach anticipated for Rancho San Marcos, Greg Rice states, “I think Ty Warner’s efforts with his other properties clearly shows that he is not interested in a quick turn on profit. He is not looking for more volume or bigger structures, but a better overall experience for those who use the property and those who surround it.” 

ABOUT TY WARNER
Forbes Magazine ranked Ty Warner as being the 30th wealthiest individual in the U.S. with a net worth of six billion dollars.  He is known for his generosity, most recently donating $6 million to the Andre Agassi Charitable Foundation for his underprivileged children’s school in Las Vegas.  He also completed the $8.1 million building fund for the Ty Warner Sea Center in Santa Barbara, California with a donation of $1.5 million.  Recently, Mr. Warner donated soft toys valued at $300 million to promote a Red Cross Blood Drive in Japan.

ABOUT TY INC.
Founded in 1986 by Ty Warner, creator of the wildly popular Beanie Babies®, Ty is the world leader in the sale of plush toys. In Japan, collectors have been known to wait in line overnight to purchase some of Ty Inc.’s exclusive new releases.  In addition to the Beanie Baby® line, which is celebrating its 11th anniversary, the company’s product line includes: Beanie Buddies®, Classic®, Beanie Boppers®, Punkies®, Pluffies® and Teenie Beanie Boppers®. The Ty Heart Logo®, recognized around the world, can be found on all Ty products available at finer specialty gift retailers. Visit Ty on the internet at http://www.ty.com.

ABOUT TY WARNER HOTELS AND RESORTS
Ty Warner Hotels & Resorts, LLC was founded and is solely owned by Ty Warner.  Properties owned by the company include the Four Seasons Hotel New York located on 57th Street. I.M. Pei, the world-renowned architect who also designed the Miho Museum in Kyoto, Japan and the Pyramide du Louvre in Paris, France, designed this hotel.  Other properties include the 75 year-old Four Seasons Biltmore, the Coral Casino Beach and Cabana Club, and the romantic 500-acre San Ysidro Ranch retreat, all located in the affluent Montecito community in beautiful California.   Just added to his unique collection of properties - the enchanting Kona Village Resort located on the Kona Coast of the Big Island of Hawaii, the Las Ventanas Resort in Los Cabos Mexico, the Montecito Country Club located in Santa Barbara, California, and the Miramar Hotel located Montecito.  Mr. Warner also owns the magnificent Sandpiper Golf Course which is situated on a Pacific Ocean bluff.  All of the properties are currently involved in extensive renovation programs according to Mr. Warner’s vision.

ABOUT RANCHO SAN MARCOS
Located 12 miles outside of Santa Barbara, California, Rancho San Marcos Golf Course opened in January 1998.  Designed by Robert Trent Jones, Jr., this 6,800-yard par-71 course was named one of the "Top 10 You Can Play" by Golf Magazine. Built on the site of the historic Rancho San Marcos, circa 1804, the course is reminiscent of its history with nineteenth century adobe structures and an original stagecoach trail.

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Contact:

Greg Rice
695-8887 ext 21 
Erinn Lynch
963-5929 ext 235
 

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Also See: Ty Warner Closes Purchase of Miramar by the Sea, Located On one of the Most Valuable Beachfront Properties in California / May 2005
Massive $145 million Renovation Nearing Completion for Ty Warner's Four Seasons Biltmore Resort in Santa Barbara / May 2005


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