May 8, 2001
American Vacation Resorts, Inc. ("AVR"), an Orlando, Florida based company, late last month acquired
the assets and membership base of Med Resorts. The CEO of American Vacation Resorts, Inc., Malcolm Wright, affirmed
the company's commitment to continue to deliver exceptional membership fulfillment and travel services to its members
and to maintain the continuity of the operations of the former Med Resorts. Mr. Wright further stated that the
next several weeks will be devoted to developing and implementing strategic new business strategies that will vault
AVR into the top tier of the resort development and vacation travel club industry.
American Vacation Resorts, Inc. assumed control of the Med Resorts operations as of Monday, April 16th. In addition
to Mr. Wright as CEO, AVR's officers include Kathy Cormier as Chief Financial Officer and Marianne Myers as Chief
Operations Officer.
AVR is jointly owned by Mr. Wright, a resort developer and travelbyus, one of the nation's largest travel groups.
While Members will be entitled to receive the same benefits they had received from Med Resort programs, such as
the same resort properties, same travel services and dedicated staff, they will also benefit from the resources
behind the AVR Team. Mr. Wright is a Chartered Accountant with more than 20 years experience in the time-share
and vacation resort industry in both the U.S. and Europe. Mr. Wright, through his affiliated companies, is undertaking
to commence development of Sunstone Golf Resort, a 799 unit/390 acre golf resort near Disney World in Orlando,
Florida. Mr. Wright also is currently negotiating for the purchase of River Ranch, a 1,700 acre "dude"
ranch including a golf course, airstrip, skeet shooting range, marina, rodeo facilities and condominiums, located
in Central Florida.
travelbyus, through its travel agency network, generates over $6.5 billion in annual retail travel sales. This
translates into exceptional buying power for American Vacation Resorts' members. travelbyus is a travel industry
leader with direct contracts with cruise lines, car rental companies and airlines (including ownership of "Cheap
Seats", an airline ticket consolidator).
Ms. Myers stated that American Vacation Resorts, Inc. looks forward to continuing the many valued business relationships
formerly enjoyed by Med Resorts and sees the company embarking on an exciting new era. "This is a wonderful
opportunity for the members and they can look forward to many new enhancements to their membership"
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Contact:
Marianne Myers American Vacations Resorts, Inc. (727) 531-1400
SOURCE: American Vacations Resorts, Inc.