Danny Meyer’s Enlightened Hospitality Investments (EHI) has made a $20 million investment in the eatertainment concept Five Iron Golf.
The New York-based Five Iron, which has 24 units in the U.S. and four countries, said Tuesday the investment helped support the opening of a 16,390-square-foot flagship location at Grand Central Station in New York City. It will be the sixth location in the city for the concept, which is also planning to franchise.
The flagship has 15 golf simulators, two full-service bars and lounge areas with other games, like air hockey, billiards and shuffleboard. It’s also available for group and corporate events.
“We are excited to partner with Five Iron Golf to further enhance their innovative blend of golf, hospitality, and good food,” said Meyer, who is also founder and executive chair of Union Square Hospitality Group, in a statement. “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.”
Meyer, who is also founder and chairman of Shake Shack, is partnered in EHI with Mark Leavitt, Pete Mavrovitis and Harry Seherr-Thoss. With the investment, Mavrovitis will join Five Iron's board.
Jared Solomon, CEO and co-founder of Five Iron, said the investment will help the concept accelerate growth, enhance offerings and deliver an unparalleled experience for guests.
EHI’s investments have included restaurant and food concepts, such as the ice cream brand Salt & Straw, Joe Coffee Company, Dig, Slutty Vegan, and the taco chain Tacombi, as well as tech companies, like the point-of-sale provider Qu.
Eatertainment concepts are on the rise, and Five Iron is one of several golf-focused chains designed to bring people together to play, eat and drink. Others include Topgolf, Puttshack and Puttery, as well as Popstroke.
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