Vacation Resorts International Purchases
Owner's Resorts & Exchange Inc. (ORE)
July 5, 2006, Laguna Hills, CA – Vacation Resorts International (VRI) announces the purchase of Owner’s Resorts & Exchange Inc. (ORE).
ORE has been headquartered in Salt Lake City, Utah for the past 15 years and those offices will remain in tact and operational with the existing team members, under the direction of VRI. This purchase adds 25 resort associations in ten states to VRI. ORE also offers an internal exchange program and manages a program called Multi-Resort Ownership Partnership (MROP) (a weeks based vacation club) that includes over 65 resort locations.
As stated by Roy Fraser, Chairman and CEO of VRI: "This is a very exciting time for VRI. The team at ORE has the same strong values and ethics that have been the trademark of VRI for the last 26 years and we look forward to the opportunities that will continue to present themselves as a result of joining two great teams together. The VRI executive team led by Joseph Takacs, President and including Alex Fogel, COO, Juanita Presley, CFO, Stacey Shilling, Sr. Vice President Operations and Jan Samson, Sr. Vice President Business and Corporate Development have done, and continue to do an outstanding job for VRI and I am confident they, along with the new team from ORE will welcome and ensure a seamless merger of ORE into VRI."
"The ORE internal exchange program is extremely attractive, and we look forward to being able to integrate this program into many of the resorts that VRI is privileged to manage as a very cost effective, simple to use program for the owners," says Joseph Takacs, President of VRI.
Some of the new resort locations included in this purchase are Jackson Hole, Wyoming; Mesquite, Nevada; Pinetop, Arizona; Ruidoso, New Mexico; Sun Valley, Idaho; Waikiki and Kauai, Hawaii and several locations in Utah, including Park City.
"These locations give us beautiful new vacation destinations and bring our total resort family to almost 150 resort locations and over 300,000 owners," says Jan Samson, Senior Vice President Business and Corporate Development & Special Projects. "We are thrilled to be announcing this purchase of ORE, and are obviously very excited about what it means to our future as well as those of all of our team members and owners that we so proudly serve!"
For individuals interested in more information on Vacation Resorts International, please contact Jan Samson at 863-424-1698 or by E-mail at jan.samson@vriresorts.com.
