Trading Places International

Login My Account

October 27, 2004

ISLAND PARK VILLAGE RESORT SUCCEEDS IN LAND ACQUISITION

ISLAND PARK , IDAHO ------- With a 95% majority vote, the owners of the beautiful Island Park Village Resort located in Fremont County, Idaho, recently agreed to purchase the 12 acres adjacent to the property in the hopes of protecting the property from excessive development. The Island Park Village Resort has 72 condominium units and 132 residential lots, with 3,366 owners. The resort is managed by California-based Trading Places International.

Ken Heikes, president of the Island Park Village Resort Association stated, “The Village will now control its own fate. There is much work remaining in the subdividing of the land parcel as well as finding a buyer for residential lots, a two-acre commercial tract and at least six condominium pad sites. There is already interest in development in the Island Park area, and we believe we will become a major player in that development.”

“It was discovered that a major developer had designs on purchasing the land to build 70 or so condominiums on it,” said Richard Zimmerman, General Manager of Island Park Village Resort. Once the Island Park Board of Directors and Trading Places caught wind of this information, they decided to pursue the possibility of the resort owners purchasing the land and averting the impact of added population and traffic to the pristine area surrounding the resort.

An overwhelming majority of the owners agreed to the purchase and plans are now being discussed with regard to future development of the property. “We may apportion some of it for residential homes and construct 10 – 12 whole or fractional units as well,” said Zimmerman. This bodes well for the owners of Island Park. Not only do they maintain control over what happens to the property, but there is also an anticipated increase in the value of their timeshares and lots as a result of the acquisition.

Additionally, the acquisition of the remaining property will allow certain operating costs to be spread out over a broader base of membership, thus keeping assessments to present members lower than otherwise would be possible.

Trading Places is a 30-year veteran of the cruise, travel and vacation ownership industry. It is the only vertically integrated, independent timeshare company that provides full-service resort management, exchange and rental services, and owner resales, as well as a full-service travel agency. Trading Places currently oversees more than 40,000 timeshare owners at 30 resort locations on the mainland USA, Hawaii and Mexico.