Holiday Inn Club Vacations adds Myrtle Beach, S.C. and Gatlinburg, Tenn., to Growing Portfolio of Resorts

19 February 2009             
   
Holiday Inn Club Vacations adds Myrtle Beach, S.C. and Gatlinburg, Tenn., to Growing Portfolio of Resorts

Holiday Inn Hotels

Holiday Inn Club Vacations announced today that it is adding two new destinations to its resort portfolio, Myrtle Beach, S.C., and Gatlinburg, Tenn., bringing the total number of resorts to six.  The new resorts will join the three locations currently available to owners and guests – the flagship location, Holiday Inn Club Vacations at Orange Lake Resort in Orlando, Fla., and resorts in Lake Geneva, Wis., and Panama City, Fla., – with another location in Ascutney, Vt., scheduled to go live later this month.

Orange Lake Resorts, under an exclusive licensing agreement with IHG to use the Holiday Inn Club Vacations brand, has acquired the 256-unit South Beach Resort in Myrtle Beach, S.C., and 109-unit Crown Park Resort – to be renamed Smoky Mountain Resort – in Gatlinburg, Tenn., from Burroughs & Chapin Company, Inc.  Orange Lake will own and operate these resorts as a privately held company.

“The addition of two new resorts to the Holiday Inn Club Vacations portfolio in such a short period of time demonstrates the strength of the alliance and our ability to find strategic opportunities to grow this brand, even during challenging economic times,” said Christian Hempell, vice president, Holiday Inn Club Vacations.  “Guests know and trust Holiday Inn, and we’re pleased to offer them even more destinations to experience the brand through timeshare ownership.”

Effective Feb. 13, 2009, Holiday Inn Club Vacations assumed management of operations at both resorts, with a target date for conversion by April 2009.  A timeshare sales operation will begin at the South Beach Resort on April 1.

Andrew Tilmont, COO for Burroughs and Chapin Company, Inc. commented on the purchase: “We are happy to have a company like Orange Lake with such a depth of experience and reach in the industry to take ownership of our timeshare resorts, allowing our members and employees to have unparalleled leadership as they look to their future growth.”

Both of the new resort properties offer a host of amenities that Holiday Inn Club members will enjoy:
• Smoky Mountain Resort in Gatlinburg, Tenn., (formerly Crown Park Resort) is a 109-unit resort situated near the Great Smoky Mountains National Park, offering spectacular views and the ability to experience the natural wonders of the mountains. The resort was completed in 2006 and offers indoor and outdoor pools, a fitness room and more. The area is also home to many shops, restaurants and family attractions for an estimated 12 million annual visitors.

• South Beach Resort in Myrtle Beach, S.C., is a 256-unit resort offering indoor and outdoor pools, a lazy river, a video game room, a fitness center and private access to a beautiful stretch of beach located just steps from the resort. This resort, the first units of which were completed in 2003, is ideal for families wanting to take advantage of the many golfing, shopping, dining and entertainment options available in the Myrtle Beach area for an estimated 10 million annual visitors.

“We are thrilled to be adding one of the most prestigious resorts in Myrtle Beach to our resort offering.  Myrtle Beach has always been in the top 10 list of most desired locations in our member surveys,” said Don Harrill, President and CEO for Orange Lake Resorts.  “Gatlinburg also has a great experience to offer being located so close to the Smoky Mountains National Park.”

Holiday Inn Club members will continue to enjoy access to the flagship Orlando resort, plus Member Resorts in Ascutney, Vt., Lake Geneva, Wis. and Panama City, Fla. They will also have access to Resort Condominium International’s (RCI) network of more than 4,000 resorts.

Holiday Inn Club members will also receive automatic enrollment in the Priority Club® Rewards loyalty program with Gold Elite status and can reserve stays at IHG’s more than 4,150 hotels in nearly 100 countries worldwide. Priority Club Rewards members enjoy features and benefits, such as Reward Nights with no blackout dates and the ability to redeem points for merchandise and special experiences. To learn more about the Priority Club Rewards program, visit www.priorityclub.com.

Holiday Inn Club Vacations will continue to expand its Member Resorts into top North American destination locations, adding more vacation experiences, features and benefits. In addition, Orange Lake also plans to build a flagship Holiday Inn Resort hotel at the Orlando resort and has the potential to develop up to 2,500 more timeshare villas at this location.  For more information, visit www.hiclubvacations.com.

About Holiday Inn Club Vacations
Holiday Inn Club Vacations was created in September 2008 as a strategic alliance between IHG, the world’s largest hotel company, and Orange Lake Resorts, a leader within the timeshare industry with more than 25 years of proven success.  Holiday Inn Club Vacation’s 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, water park and sports resort, Holiday Inn Club Vacations at Orange Lake Resort includes 2,412 villas and plans for expansion to 4,500 villas. Other member resort locations include Brownsville, Vermont; Lake Geneva, Wisconsin and Panama City, Florida. Holiday Inn Club members enjoy access to Holiday Inn Club Vacations resorts in Wisconsin, Vermont and Florida and IHG’s network of more than 4,150 resorts worldwide.  Holiday Inn Club Vacations will continue to expand their Member Resorts to destination locations.  For more information on Holiday Inn Club Vacations, visit www.hiclubvacations.com.

About Burroughs & Chapin Company, Inc.
A leader in the fields of commercial and residential real estate development, and related operations, Burroughs & Chapin Company, Inc. has been serving the grand strand for more than 100 years – the company's service to Myrtle Beach and Horry County, South Carolina dates back to 1895.

Burroughs & Chapin’s residential developments include the award-winning Grande Dunes, a 2,200-acre four-star community stretching from the Atlantic Ocean to west across the Intracoastal Waterway. Burroughs & Chapin has also created numerous commercial developments offering national and regional name brand shopping. These include Broadway at the Beach – an award-winning 350-acre festival shopping, entertainment and dining complex; Coastal Grand Mall, a one million square foot regional shopping mall joint ventured with CBL & Associates Properties of Chattanooga, Tenn.; Seaboard Commons; South Strand Commons; Arcadian Shores Commons; the 501 Power Centers and many smaller “jewel box” centers.  In addition, Burroughs & Chapin Golf Management offers many of the finest 18-hole championship golf courses in Myrtle Beach.