Silverleaf Resorts is a growing vacation ownership company that operates 13 vacation properties across six states in the eastern half of the U.S., serving approximately 120,000 members. With headquarters in Dallas, Texas, the company employs over 3,000 people.
Orange Lake Holdings will now operate two brands independently, Holiday Inn Club Vacations® and Silverleaf Resorts, encompassing 26 resorts, 7,200 villas and over 320,000 owners. Club members in each brand will continue to enjoy all the benefits of their existing membership plans.
“With this acquisition, we will be doubling the size of our parent company,” said Don Harrill, CEO of Orange Lake Resorts. “This is an 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.”
“With a history that spans more than 30 years, Silverleaf Resorts is a natural fit with our growing product offerings and customer demographic,” said Thomas R. Nelson, President of Orange Lake Holdings. “We look forward to welcoming this successful vacation ownership brand into our resort family.”
“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,” said Thomas J. Morris, CEO of Silverleaf Resorts. “We are excited for the future and the tremendous opportunities this affords us.”
SunTrust Robinson Humphrey and Bank of America Merrill Lynch acted as financial advisors and joint lead arrangers for the financing to support the acquisition.
About Orange Lake Holdings
Orange Lake Holdings is the parent company of Orange Lake Resorts and Silverleaf Resorts, encompassing 26 resorts and 7,200 villas in the U.S., with over 320,000 timeshare owners and 6,000 employees. Orange Lake Resorts, a leader within the vacation ownership industry with more than three decades of proven success, operates the Holiday Inn Club Vacations® brand. It was created in 2008 through a strategic alliance with IHG® (InterContinental Hotels Group), one of the largest hoteliers in the world. The Holiday Inn Club Vacations flagship property in Orlando, Fla., located next to the Walt Disney World® Resort, was established in 1982 by Holiday Inn® brand founder Kemmons Wilson. The brand operates 12 resorts across eight states, with another in development in Scottsdale, Ariz., scheduled to open in late 2015. For more information on Holiday Inn Club Vacations or to book reservations, visit hiclubvacations.com. Find us on Facebook at facebook.com/hiclubvacations or Twitter at twitter.com/hiclubvacations.
Silverleaf Resorts is a growing vacation ownership company that has provided getaway and destination resort experiences since 1989. With headquarters in Dallas, Texas, the company operates 13 resorts in six states across the eastern half of the U.S. For more information on Silverleaf Resorts or to book reservations, visit silverleafresorts.com. Find us on Facebook at facebook.com/silverleafresorts or Twitter at twitter.com/slresorts.
PRESS RELEASE SOURCE: Orange Lake Resorts
Orange Lake Resort