Timeshare resort industry lenders, Colebrook Financial Company, ink deal to underwrite receivables with Vacation Ownership Sales, Inc.
Middletown, CT – December 2012 / Hospitality 1ST / Colebrook Financial Company, boutique lenders in the timeshare resort industry, report they recently closed a $6 million receivables hypothecation loan with Vacation Ownership Sales, Inc. (VOS). VOS is the development and sales company affiliated with Vacation Internationale (VI), the oldest points-based vacation club in North America. VOS will use the loan proceeds in its ongoing and successful efforts to expand VI in the US, Mexico and Canada.
VOS President Stuart Allen said, “VOS is very appreciative of its financial relationship with Colebrook. This association dates back to 2005, when VOS was founded to foster growth for VI. Colebrook and its principals have aided VOS and VI immeasurably by their support of VI’s strategic plan. We look forward to more transactions like this in the future.”
“We’ve been delighted to work with Stu and his partner Mike Vasey,” says Colebrook Senior Partner Bill Ryczek. “Vacation Internationale practically invented the points-based model that is so prevalent in the timeshare industry today, and the fact that the club continues to thrive is a testament to the quality of the product and the soundness of the management. Stu and Mike are a great combination of administrative and marketing talent who complement each other well.”
About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.
for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
SharonINK PR & Marketing