Fractional Real Estate News

100% of These New Residences are Company-Owned

DENVER and WASHINGTON, August 14, 2006 – Exclusive Resorts, the worlds leading destination club, today announced that it plans to open 30 new luxury residences for its members before the end of this year, at an average rate of two new residences for members each week.  All of these new residences are owned by Exclusive Resorts, further strengthening the industrys largest real estate asset base, which is currently valued at over $800 million.

"Top 100 Companies For Working Families"

ORLANDO, Fla. 08-07-2006 — Wyndham Vacation Ownership has been recognized by the Orlando Sentinel as one of its "Top 100 Companies for Working Families" for the fifth consecutive year, and for the first time joins an elite group of companies to rank within the Sentinel's Top 10, placing 9th overall.  The company is also the only hospitality company to receive top 10 honors.

Tanner and Haley (Complete Retreats, LLC) files Debtor-In-Possesion creditor comittee.  Eleven member comittee represents most of the largest unsecured creditors.

ORLANDO, FL (August 3, 2006) – Ultimate Resort, a leader in the luxury destination club industry, is pleased to announce the appointment of Gregg Amonette as Senior Vice President, Business Development. In his new role, Gregg Amonette will be responsible for developing strategic partnerships with complementary luxury brands.

BelleHavens is more confident than ever about equity model and asset protection for members

Salt Lake City, UT (August 3, 2006) - Recently, destination club pioneer Tanner and Haley filed for Chapter 11 bankruptcy protection in order to reorganize the company and restructure their business model.  With this announcement, members of destination clubs as well as potential buyers may be experiencing some skepticism about the industry.

Hall of Famers Billy Casper, Donna Caponi and Other Elite Players Join Council to Provide Best Golf Experiences Possible

(ST. GEORGE, UTAH) – July 28, 2006 – For those who love the game of golf, theres nothing more exhilarating than teeing off with a golf idol, gleaning wisdom from those who have played the most awe-inspiring opponents and the toughest courses. Members of The Markers, the first and only residence club created exclusively for devout golfers and their families, can live out their fantasy of playing golf among the worlds best with the advent of The Markers Players Council. Comprised of a select group of personalities and players from the PGA, LPGA, Champions and Nationwide Tours, the Players Council offers tour-level insights for every Markers member through a variety of member-only events, clinics, and one-on-one interaction.

Fractional Ownership is Deeded and Secure Says Star Resort Group CEO

SCOTTSDALE, Ariz., July 27 - Star Resort Group (Scottsdale, AZ), a leading developer, marketer and seller of resort real estate in North America, has reacted to the recent news that Tanner & Haley, a Destination Club based in Westport, Connecticut has filed voluntary petitions to reorganize under Chapter 11.

First-Day Orders Will Enable Company to Continue To Serve Members, Meet Post-petition Obligations to Vendors and Employees, During Financial Reorganization Process

WESTPORT, Conn., July 26, 2006 — Tanner & Haley Resorts, a leading, privately held destination club enterprise based in Westport, Conn., today announced that Judge Alan H. W. Shiff of the U.S. Bankruptcy Court for the District of Connecticut, Bridgeport Division, has given his approval for the companys $10 million interim debtor-inpossession (DIP) credit facility, and for all of the companys other first-day motions.

Company Obtains Commitment for $10 Million in Interim Financing to Support Continued Business Operations
Holly Etlin of XRoads Solutions Group LLC Named Chief Restructuring Officer
Company Intends to Continue to Meet Substantially All Travel Commitments Made to Destination Club Members
Will Explore Opportunities to Strengthen Business Model

WESTPORT, Conn., July 24, 2006 — Tanner & Haley Resorts, a leading, privately held destination club enterprise based in Westport, Conn., today announced that its U.S.-based operations, principally including Preferred Retreats, LLC and Complete Retreats, LLC, have filed voluntary petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code. Tanner & Haley has taken this action to enhance its ability to meet its financial obligations, modify its business model and position the company for long-term stability. The Chapter 11 filing was made on July 23 in the U.S. Bankruptcy Court for the District of Connecticut in Bridgeport, Conn.

Pahio Resorts, Inc. and Vacation Ownership Inc.

KAUAI, HI. 07-20-2006 — Wyndham Vacation Ownership, Inc., the world's largest vacation ownership company, today announced it has acquired Hawaii-based, privately-held PAHIO Resorts, Inc. (PRI) and PAHIO Vacation Ownership, Inc., (PVO) located on Kauai.  Wyndham Vacation Ownership will assume all property management, sales and marketing operations of Bali Hai Villas, Ka ￯﾿ﾽEo Kai, Kauai Beach Villas, Shearwater, and Makai resorts. Additionally, Wyndham Vacation Ownership has entered into an exclusive relationship with the developer David Walters to expand the Bali Hai Villas resort, which includes plans to add more than 125 vacation ownership units and a new club house.