ORANGE LAKE RESORTS CLOSES TRANSACTION TO
ACQUIRE RESORTS IN LAS VEGAS, NV AND MARCO ISLAND, FL
a CFL Partners’ facilitated transaction
ORLANDO, FL September 12, 2011 – CFL Partners, Inc., specialists in providing strategic alternatives, alliances and structured finance options to the world’s largest vacation ownership companies is pleased to announce that Orange Lake Resorts, which operates six vacation ownership properties under the Holiday Inn Club Vacations® brand, has closed a transaction to acquire the Desert Club Resort in Las Vegas, NV and Sunset Cove Resort in Marco Island, FL from Summer Bay Partnership, LLC. This represents one of the largest non-distressed acquisitions within the vacation ownership industry since 2009. CFL Partners and its related entities is pleased to have procured and facilitated this transaction.
The Desert Club in Las Vegas, NV is an RCI Gold Crown resort uniquely situated on 19 acres just one block off of The Strip. The resort consists of 648 one and two-bedroom condominium-style units. On-site recreational amenities include five outdoor swimming pools with spas, a brand new state-of-the-art clubhouse, convenience store, fitness center, restaurant, bar, putting green and other amenities.
Sunset Cove in Marco Island, FL is currently part of RCI’s distinguished Registry Collection® of fine leisure assets. It is located on the Rio waterway in the "City Center" activities district. This resort consists of 36 three-bedroom residences ranging from 1,667 to 1,900 square feet, with stunning waterfront views. On-site amenities include a pool with sundeck, a bar and promenade area, boat dock and a fitness center. First class dining and shopping are available nearby. Orange Lake Resorts plans to bring all Sunset Cove units into its upscale "Signature Collection" product line. The intent is to bring both resorts into the Holiday Inn Club Vacations® brand, with Sunset Cove joining the brand this fall and Desert Club in the spring of 2012.
About CFL Partners
CFL Partners provides expert consulting, advisory, and merger & acquisition (“M&A”) services to private and publicly held, mid-sized companies. Specializing in the Hospitality, Vacation Ownership and Resort industry, CFL Partners assists clients with leveraging their core assets and unlocking shareholder value through Strategic Partnerships/Alliances, Equity/Capital raises, and properly positioning companies for exploring other strategic alternatives or various liquidity options. With over 75 years of unmatched depth and industry-specific experience, CFL Partners and its Advisors are well prepared to help clients achieve their goals. http://www.cflpartners.com
About Orange lake Resorts
Orange Lake Resorts has been a leader within the timeshare industry for nearly 30 years. Their flagship property in Orlando, located next to Walt Disney World® Resort, was established in 1982 by Holiday Inn founder Kemmons Wilson. A 1,450-acre golf, lazy river and sports resort, the flagship resort includes 2,478 villas. Other member resort locations include Lake Geneva, Wis., Panama City, Fla. Brownsville, Vt., Myrtle Beach, S.C., and Gatlinburg, Tenn. For more information on Orange Lake Resorts, visit www.orangelake.com.