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Fairfield News & Notes
Fairfield Acquires Dolphin's Cove Resort
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Orlando, Florida, January 8, 2001 -- Fairfield Communities, Inc. (NYSE: FFD) today announced the acquisition of Dolphin's Cove Resort in Anaheim, California, from Dolphin's Cove Resort, LTD, a Winner's Circle Resorts International Inc. affiliate. The 136-unit resort, which began active sales three years ago and includes a mix of one-, two- and three-bedroom suites, is adjacent to Disney's California Adventure, the new Disney theme park scheduled to open in February 2001. The acquisition increases |
Fairfield's membership base to more than 340,000. Along with the resort and its unsold inventory, Fairfield will acquire property management rights at the resort, as well as a portfolio of quality receivables from previous vacation ownership interest sales. Under the terms of agreement, Fairfield also acquired option rights to develop a vacation ownership resort, oceanfront in Southern California. The multi-purpose project is expected to include 150 vacation ownership units. |
"With the Dolphin's Cove acquisition and oceanfront resort, Fairfield continues to strengthen its brand recognition and presence in the Western US," said Jim Berk, Fairfield's President and Chief Executive Officer. "Dolphin's Cove is an excellent addition to our portfolio of Gold Crown resorts and is a very strategic asset from a marketing standpoint. These California projects complement our existing presence in the west and allow us to further leverage our strategic alliance with Harrahs Entertainment." |
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Last Updated on January 31, 2001 |
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