discover the investment trajectory of billionaire Robert Rowling

Businessman Robert Rowling grew up in the oil business under the influence of his father, Reese, a geologist who began his career at the company Standard Oil of Texas before striking out on your own. Later, in order to diversify his income, Robert Rowling started to invest in the hotel industry, something that earned him billion-dollar income.

During the pandemic, the businessman invested around US$500 million (R$2.5 billion) to acquire the “Omni PGA Frisco Resort”, which has golf and mini golf courses and is located in Texas. The hotel has capacity for 700 parties and has a waiting list to rent one of the six spaces available in the indoor golf area, which offers full food and beverage service.

Last year, the hotel recorded an estimated revenue of US$3 billion (R$15 billion), with cash flow of around US$700 million (R$3.5 billion). “While in many places golf is considered a simple activity, here it is different. Here, golf generates profit”says Rowling in an interview with Forbes, which estimates that the billionaire's current fortune is US$8.9 billion (R$45.7 billion).

The beginning of everything

In 1980, the Rowlings family found it difficult to find partners to support oil exploration amid falling commodity prices. The family risked drilling a well and managed to find enough resources to support 17 more wells. A few years later, most of the family company's assets were sold to Texaco.

In charge of taking care of the diversification of the fortune from the sale carried out for US$480 million (R$2.4 billion), Rowling declared that all amounts have been paid and that they continue to receive payment for the assets. That's how he started acquiring hotels, to have a constant flow of money that wouldn't run out over time, as is the case with oil, “I wanted something with lasting value”, argues the businessman.

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_{Robert Rowling and his wife Terry Rowling at Augusta National Golf Club (Photo: reproduction/Getty Images Embed/Rob Carr)}

The first acquisition took place in Texas, where he purchased two hotels located in Corpus Christi. The acquisition of Omni Hotels occurred in 1996, and included eight premium hotels. At the time, he was warned by his father that it was a very risky operation, but he still invested US$500 million in the acquisition.

Strategies and objectives

In 2015, the billionaire invested in the acquisition of the resort Mt. Washington in New Hampshire, at a time when more golf courses were closing than opening, due to public lack of interest.

During the pandemic, he took advantage of the significant increase in golf practice to invest in the “Omni PGA Frisco Resort”, as people sought private environments where they felt safe.

For Rowling, there is no other hotel chain that develops, operates and has such a broad portfolio while financing growth projects with money from operations. As a future plan, the billionaire intends to inaugurate a golf project still under construction, which will be located in Mexico and will compete with the resort Four Seasons.

Featured photo: Robert Rowling and his wife Terry Rowling at Augusta National Golf Club (reproduction/Getty Images Embed/Rob Carr)