Destination Club News Ultimate Resort Closes Acquisition of Tanner & Haley
Written by SherpaReport Staff Thursday, 10 May 2007 10:36
Yesterday Ultimate Resort announced that it had closed the acquisition of substantially all of the real estate assets of Tanner & Haley. This $100m acquisition gives Ultimate over 750 members and luxury homes located in 25 resort destinations in the United States, the Caribbean, Mexico and Europe.
Ultimate Resort acquired the real estate assets of Tanner & Haley's three former luxury destination clubs: Private Retreats, Distinctive Retreats, and Legendary Retreats. As part of the transaction more than 650 former members of Tanner & Haley have agreed to become members in Ultimate Resort and Ultimate Resort ELITE destination clubs.
"We are also pleased to welcome more than 100 former Tanner & Haley employees, many of whom have years of experience providing five-star concierge and member services." said Ultimate Resort Founder, President and CEO Jim Tousignant.
The destination club industry is growing rapidly. Exclusive Resorts announced today that it now has $1 billion of owned homes. Other clubs such as High Country Club and M Private Residences have reported reaching hundreds of members.
Image courtesy Ultimate Resort, St Thomas, USVI
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