SAM Magazine-Ascutney, Vt., July 14, 2008-Orange Lake Resorts has acquired 26 villas at Ascutney Mountain Resort and assumed management responsibilities for the condo hotel, fitness center, and food and beverage at the resort. Ascutney remains responsible for mountain operations, marketing, and future resort development. Financial terms of the deal were not disclosed.

The club concept was incredibly successful in its first season, Ascutney owner Steve Plausteiner told SAM, with higher occupancy rates than Ascutney could generate on its own. "They have some great programs and resources-there are things they can do that we can't, " he added.

Most former Ascutney hospitality staff are transitioning to the new ownership. "We wanted to make it a turnkey operation," Plausteiner explained.

In 2007, Orange Lake bought 34 villas at Ascutney and spent $3 million on renovations. The new acquisition will undergo a similar renovation, said Don Harrill, president and CEO of Orange Lake Resorts. Started in 1982 by Holiday Inn founder Kemmons Wilson, Orange Lake Resorts operates timeshare properties in Lake Geneva, Wis.; Ascutney, Vt.; Panama City and Orlando, Fla. Its club membership totals about 30,000.

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