Orange Lake Resorts Acquires Silverleaf Resorts, Inc.
Thursday, May 21, 2015
Today, Orange Lake Resorts announced that they have purchased Silverleaf Resorts, Inc. through their parent company, Orange Lake Holdings.
Silverleaf Resorts, Inc., an affiliate of Cerberus Capital Management, L.P., operates 13 timeshare resorts across the U.S. Although their headquarters are based in Dallas, Texas, Silverleaf offers resorts in six states including Texas, Florida, Georgia, and Missouri.
Through this purchase, Orange Lake will not only acquire the Silverleaf properties, but will also welcome their 3,000 employees and 120,000 vacation ownership members to their corporation.
Orange Lake Holding plans to run the two resort groups as independent brands: Holiday Inn Club Vacations® and Silverleaf Resorts. Combined, however, the company’s portfolio will include 26 resorts, 7,200 villas, and 320,000 timeshare owners.
CEO of Orange Lake Resorts, Don Harrill shared, “With this acquisition, we will be doubling the size of our parent company. This is a historic development for both companies. With our combined reach, we continue to stay on the forefront of providing diverse travel experiences for today’s changing market.”
President of Orange Lake Holdings, Thomas R. Nelson added, “With a history that spans more than 30 years, Silverleaf Resorts is a natural fit with our growing product offerings and customer demographic. We look forward to welcoming this successful vacation ownership brand into our resort family.”
For Silverleaf owners, there is no need to worry about your membership perks. Orange Lake Holdings plans to support the current Silverleaf membership program and benefits.
CEO of Silverleaf Resorts, Thomas J. Morris commented, “We’re excited to join with such an iconic brand that can trace its roots back to the founding of modern hospitality in this country. We are excited for the future and the tremendous opportunities this affords us.”
Stay tuned to The Timeshare Authority blog for more news on the Silverleaf Resorts acquisition.
PHOTO CREDIT:Orange Lake Resorts