Exploria Resorts Purchases the Grand Seas Resort
Tuesday, November 4, 2014
Exploria Resorts has just purchased the popular Grand Seas Resort located in Daytona Beach, Florida. Previously owned by the Madorsky Family, the resort is just one of the many properties in the area to recently change owners.
The nearly $2 million purchase includes the 176-unit resort, and common areas. In addition to the physical property, Exploria Resorts also took control of the company’s remaining unsold inventory, about 850 weeks out of a total of 9,000.
The President and CEO of Exploria Resorts, Paul Caldwell says they plan to renovate the property and may expand it as well. Renovation plans include repainting the resort, upgrading the reception area, and building a completely new restaurant.
Caldwell shared, “We are working with an architect and designer on a preliminary budget for the facelift.”
This is the second purchase that Exploria Resorts has made in Florida in 2014. Back in May, the group purchased a block of inventory at the Ocean Sands, located in New Smyrna Beach. Now, Exploria Resorts manages the Ocean Sands through its management division of Summer Bay.
Caldwell continued, “We have for many years now sought a nearby Florida beachfront destination to offer our owners and prospective owners, providing synergy with our Orlando-based flagship resort, Summer Bay Orlando. Both the Daytona Beach and New Smyrna Beach markets provide thriving destinations from which we plan to grow our Exploria Resorts brand.”
The Grand Seas Resort originally opened in 1962 as the Voyager Motel. In the 1990s, the Madorsky Family took the 251-unit hotel and transformed it into the timeshare resort it is today. In addition to the guest rooms, the resort also features two Olympic-size pools, water slides, a restaurant, bar, and nine holes of mini-golf.
Caldwell also mentioned that Exploria Resorts may use extra parking lot space to build new luxury timeshares.
To learn more about changes at the Grand Seas Resort, stay tuned to TheTimeshareAuthority.com.