Press Release
December 11, 2001
BELLA VISTA, AR -- Countering the slowing trend in hospitality, resort sales at Escapes!, one of the nation's leading
and oldest independent timeshare resort development companies, have continued on a strong path through the third
quarter of this year. Topping the company's performance of last year, Escapes! sales revenue reported through
September 30, 20001, shows a 24 percent increase over third quarter 2000 sales.
"Our strategies for growth are carefully calibrated to achieve steady growth over the long term and help the
economy weather any economic climate," said T.L. Spencer, president and CEO of Escapes! "It's simple:
We offer consumers an interesting mix of resorts in drive-to destinations, a variety of exciting vacation experiences
and leisure activities, and price points that are affordable for families."
Known internationally for his leadership and "turn-around" sales skills, Spencer also attributes the
sales increase to the company's rebranding to Escapes!, the significant expansion of its resort portfolio in what
he calls a "Wal*Mart growth strategy" that targets markets typically underserved by the timeshare industry,
and the introduction of new vacation and leisure options through Escapes!.
"This year we added destinations to our portfolio where vacationers like to travel, but where there are not
many timeshare resorts, and we're adding more," said Spencer. "In existing portfolio destinations such
as Branson, Missouri, where the competition is tougher, we have introduced a new vacation experience with Escapes!
to Branson Yacht Club. Not only are the new boating, fishing, and other resort amenities proving a hit, the unique
value-added products we are offering to new owners are keeping sales strong."
Ownership at Escapes! to Branson Yacht Club, located on picturesque Table Rock Lake, includes use of a pontoon
boat for one or two days based on a split- or week-long stay, respectively.
"People who enjoy a Branson vacation typically enjoy boating and fishing," said Project Director Wes
Spencer. "Pontoon boat rentals in Branson cost approximately $250 per day plus gasoline. Having the pontoon
as part of ownership is something that separates us from the competition and makes ownership with Escapes! more
valuable - and more fun."
Both Spencers also credit strong sales to Escapes! cross-selling from one resort property to another and easy access
of drive-to resort locations.
"Sales to our existing owners are very strong. By cross-selling between properties, we simplify the purchase
process for consumers," commented Wes Spencer. "In our sales rooms,
we're hearing that finding an affordable means of reconnecting with family and friends is more important today
than ever, and consumers recognize that with Escapes! they're truly buying into a family," commented Wes Spencer.
According to the Travel Industry of America nearly 80 percent of travelers drive to their vacation destination.
October survey data by TIA also shows that some 70 percent of people say they will not change their vacation plans
in the wake of the Sept. 11 events.
For nearly two decades, Escapes! has offered exciting and flexible vacation ownership products backed by almost
five decades of successful community and resort development. Headquartered in Bella Vista, Ark., the company currently
has more than 11,000 vacation owners. This year the company renamed its resorts under the new Escapes! brand:
Escapes! to Bella Vista Village and Escapes! to Hot Springs Village, both in Arkansas, and Escapes! to StoneBridge
Village in Branson, Missouri. The company also more than doubled its resort portfolio with the recent re-acquisition
of its original resort, Escapes! to Cherokee Village, also in Arkansas, and the addition of three new properties:
Escapes! to Branson Yacht Club, a lakeside property under construction in Branson, Missouri; and its first two
beach resorts, Escapes! to the Gulf at Orange Beach, in Alabama, and, in the planning stages, Escapes! to the Gulf
at Galveston, in Texas.
Its parent company, Cooper Communities, Inc., which was founded in 1954, pioneered the recreational community concept
through the development of six such communities across four states. Today, 120,000 families are members of Cooper
Communities. Timeshare was introduced to its mixed-use developments in the early 1980s in Cherokee Village; sales
were first limited to existing Cooper Communities property owners and extended to the general public in the mid-90s.
--------------------------------------
Contact:
Ellen Yui, Yui & Co., 301-270-8571 ellenyui@yuico.com Elizabeth Kelley Grace, 561-989-9855 lizkgrace@aol.com