The Timeshare Beat Home | Today's Headlines | Back to Previous Page
|
The Timeshare Beat Home | Today's Headlines | Back to Previous Page |
|
|
|
Press Release: Sunterra Corporation
July 26, 2005
LAS VEGAS, NV -- Sunterra Corporation (NasdaqNM:SNRR) ("Sunterra" or the "Company") announced
yesterday that it has closed agreements with the Eden Leisure Group to acquire the Eden Bay Resort in Malta. This
strategic acquisition will add a further year round Mediterranean destination to Sunterra's portfolio of resorts.
Consisting of 46 one and two bedroom apartments, the resort will start accepting Club Sunterra members from July
30th, 2005.
"The Maltese Islands are a popular choice for holidaymakers from the UK," commented Nick Benson, Sunterra's
President and CEO. "We are sure that our members will embrace this new vacation experience and enjoy the rich
history, culinary delights and culture as well as the seafront location of the resort. We are pleased to be replacing
inventory that we have sold through in the past year with an attractive new destination at a reasonable cost."
The five-star resort is within the InterContinental Hotel Malta, giving Club Sunterra guests access to an array
of luxury amenities, including a panoramic pool that overlooks St. George's Bay; one of the largest fitness centers
in the area with an aerobics studio, indoor pool, climbing wall and squash courts; a beauty spa with saunas and
steam room; and a number of high quality dining establishments offering a variety of cuisines. This coastal area
is home to several of the island's newest hotels and entertainment complexes, as well as historical attractions
and the capital city of Valletta, which is famous for its magnificent baroque architecture.
ABOUT SUNTERRA
Sunterra is one of the world's largest vacation ownership companies with more than 300,000 owner member families
and nearly 100 branded or affiliated vacation ownership resorts throughout the continental United States and Hawaii,
Canada, Europe, the Caribbean and Mexico. Sunterra news releases, as well as additional news and information on
the Company, can be found at http://www.sunterra.com
Statements about booking availability made in this release constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act. The Company cautions that these statements are not guarantees
of future performance, and involve risks, uncertainties, and other factors that may cause results to differ materially
from those anticipated at the time such statements are made, including risks associated with making financial forecasts
and estimates. Many of these risks and uncertainties are presented in detail in our filings with the Securities
and Exchange Commission, including our most recent report on Form 10-K. We undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
-----------------------------
Contact:
INVESTOR CONTACT:
Bryan Coy
702-304-7005
Email Contact
Source: Sunterra Corporation