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Sunterra Corp. Adds Island Resort in Spain

LANZAROTE, SPAIN-The Las Vegas-based timeshare company acquires the Jardines del Sol, a 54-unit resort located in Playa Blanca, a one-time fishing village on the southern coast of the northernmost Canary Island.

By Brian K. Miller | Updated on October 26, 2004

LANZAROTE, SPAIN- Sunterra Corp. has acquired a 51-unit resort on the southern coast of this northernmost Canary Island. The Las Vegas-based timeshare company already owns several resorts on another of the Canary Islands.The resort is located in Playa Blanca, a one-time fishing village. The city’s beach is backed by a promenade lined with shops, cafes and restaurants. Brian Coy of Sunterra’s investor relations department declined to provide the purchase price or the seller, and it was not otherwise immediately available. Sunterra also owns seven resorts on Tenerife, one of the largest and most visited islands in the chain. Sunterra touts itself as “one of the world’s largest” vacation ownership companies with over 90 affiliated resort locations throughout the continental US and Hawaii, Canada, Europe, the Caribbean and Mexico.

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