Amelia Island Plantation Announces Investor Agreement
Group of plantation homeowners seek to ensure long-term financial growth of resort.
-- Hotels, 11/13/2009 11:21:00 AM
PRESS RELEASE
Amelia Island Plantation, Fla. (Nov. 13, 2009) —Amelia Island Plantation today announced it has signed an agreement with a new investor group, Red Maple Investors, LLC (RMI) to help ensure the future of the renowned, 1,350 acre resort in Northeast Florida.
The investor group, all residents of the island with distinguished business resumes, delivers immediate interim financing and long term financial planning and expertise while assuring the uninterrupted, high quality operation of the resort. As part of the agreement, the Amelia Island Company will restructure its debt and liabilities under the protection of the courts while maintaining ongoing operations.
“We’re pleased that RMI truly believes in our vision for the future, as well as our commitment to a resort community that exists in harmony with nature,” said Jack Healan, president of Amelia Island Plantation. “The resources they bring to our relationship will provide the continued high quality service of the resort that our leisure and conference guests have come to expect when they visit us and that our club members and property owners enjoy every day.”
RMI is a group of high net-worth Amelia Island Plantation homeowners investing in The Amelia Island Company with the goal of building a financially healthy company. The group was formed and is led by long-time resident Robert C. Smith. One of the conditions required and part of the financial plan is that the Amelia Island Company restructures its debt and liabilities under chapter eleven protection of the courts. The RMI investors will provide funding as well as long term strategic and asset management services in an effort to enhance operations and improve financial performance.
“This debt restructuring will pave the way to the profitable operation of our resort. They are providing immediate interim financing with the intent of becoming long-term equity partners in the Company, which we welcome,” said Healan. “We have a great group of people in RMI, and we look forward to the opportunity to deliver an even stronger customer experience as well as providing stable employment to our staff.”
One of the RMI investors is John A. Griswold, president of Harbor Hotel Investors, LLC. Griswold has more than 30 years’ experience in the ownership, operation and management of several iconic hotels and resorts.
“Our investors believe in the potential for the long-term success of Amelia Island Plantation and are pleased to be able to provide the needed financial and strategic support to accomplish this in a professional and thoughtful way. All of us in RMI want to protect this little paradise we have come to love. And, we are willing to put up our own money to assure its success far into the future,” said Smith.
Located 29 miles northeast of Jacksonville International Airport, Amelia Island Plantation is Florida’s Natural Island Destination. Nestled between the Atlantic and the Intracoastal Waterway, the resort features 3½ miles of wide, un-crowded beach, 54 holes of championship golf, a full service holistic spa, 23 tennis courts, 20 pools, a shopping village, state-of-the-art health and fitness center, 9 dining opportunities and age-specific youth programs.
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