New York (January 5, 2011) — Silverpoint Group Holding has formally completed the purchase of assets from Resort Properties Group, in a groundbreaking deal to create Silverpoint LeisureTM
Silverpoint Group Holding has been formed by leading leisure industry expert Markus Deutsch. The sole purpose of the Group will be to locate and develop leisure hospitality assets, online and offline, in growth markets as well as the pursuit of non-leisure real estate opportunities that selectively utilise the core competencies of the Group.
Mr. Deutsch, until 2006 the President and CEO of the Cendant Vacation Rental Group, will retain his existing board positions with Landmark Global Associates and Insight Capitalists LLC but will step down from day to day involvement in these entities.
Mr. Deutsch has spent a number of months negotiating the acquisition of several assets from Resort Properties Group under a staged purchase agreement. Several members of the existing management team of Resort Properties Group, and related entities, are part of the buy-in group. All of the executive and operational management of the Group will continue with Silverpoint Group Holding and its various subsidiaries.
Markus Deutsch explained: “Silverpoint Group Holding has been looking for significant, leisure hospitality assets and we are pleased to announce the agreement to purchase assets from Resort Properties Group. The management team will be tasked with growing the business in line with a number of strategic objectives focused on providing excellence in both customer service and customer experience. Initially we will group our Vacation Ownership and hotel management activities into a new company under the Silverpoint LeisureTM brand headed by Mark Cushway. This division will focus on providing expanded club management, Vacation Ownership sales, as well as owned and third party hotel management and marketing services.
“Silverpoint Group Holding has been created to operate and invest in leisure hospitality assets, online and offline, as well as other real estate across selected markets. We will be aiming to add to the current locations, services and asset base offered to our existing leisure clients as we look to further enhance their experience with Silverpoint. We will also be looking to utilise the existing expertise of the Group to provide development and asset management services to company owned and third party assets.”
Mr. Robert T. Trotta, founder of Resort Properties Group, who remains active in various business, investment, and charitable activities around the world, has stepped down from his day to day involvement with Silverpoint related assets in Europe. He will remain a non-executive director of the company until such time that the staged buy-out is completed.
About Silverpoint Group Holding:
Founded in 2010, Silverpoint Group Holding is focused on developing products for the leisure market by building on the platform created by Resort Properties Group and by continuing over 25 years of excellent service to owners in the Vacation Ownership market. The Group seeks to invest, develop, and asset manage multi-use leisure and hospitality assets in key leisure markets, as well as to focus on other growth markets, non-leisure real estate and online opportunities.
About Silverpoint LeisureTM:
Providing property, sales, and management operation services for Silverpoint Group Holding’s owned and third party properties, Silverpoint Leisure™ will continue to enhance, via new products and services, the capabilities created over a period of 25 years. These capabilities include approximately 40,000 Vacation Ownership members and over 3,000 condos, villas and hotel rooms both developed and sold. Silverpoint Leisure™ will initially operate from offices in Malta, Spain, Italy, and the United Kingdom with additional destinations located in Florida, the Caribbean, and Dubai.
SOURCE: Silver Point Group Holding