With the opening of these developments, we will have more than doubled the size of our operating resort portfolio in about three years. With the cash we recently received from the sale of two resorts to the joint venture with CNL and our strong operating cash flow, we are well-positioned to stay on track to begin at least two new projects a year, as well as selectively add condominiums andor additional rooms and expanded facilities at existing resorts.
More Quotes from John Emery:
We also have further sharpened our focus on the Blue Harbor Resort in Sheboygan, Wis. We intend to increase our emphasis on group business to build mid-week revenues, and recently hired a new general manager who has significant experience in that market segment. Although the ramp-up for this property will continue slowly, we feel optimistic about its longer-term prospects.John Emery
With the demand that we're seeing right now in (the Williamsburg area) market, I'm very, very glad that we put this project in place. It really is probably going to be perfect timing, in terms of meeting the demand that we're seeing down there, and also offering an expanded guest amenity package.
John Emery
We are really happy at the number of people who have discovered the property already and booked reservations,
John Emery
We focus strictly on family entertainment and the water park is the big draw.
John Emery
From time to time, we intend to monetize the value of our more mature assets, and use the proceeds to fund new development and for other corporate purposes. This strategy efficiently recycles our investment capital to our future development program and allows us to retain a substantial ownership stake and establish a more stable income stream of licensing and management fees.
John Emery
Whatever situation they wind up in, their business model will continue. They do a great job running their business.
John Emery
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