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Raintree Resorts Expands US, Mexico Portfolio

HOUSTON-Raintree Resorts signs a 1,000-week exchange with Diamond Resorts. Other deals add a hotel in Mexico, condos in Scottsdale, AZ and more units in Telluride, CO.

By Connie Gore | Updated on January 03, 2008

HOUSTON-Raintree Resorts International has jump-started the year with a quid pro quo arrangement for 1,000 weeks with Las Vegas-based Diamond Resorts International as part of an expansion plan for timeshare members. In addition, the local firm has a 99-room hotel under contract in Puerto Vallarta, a 120-condo plan in motion in Scottsdale, AZ and additional condos moving into the portfolio in Telluride, CO.

The $60-million pipeline of acquisitions and development will generate $300 million in revenue for the company, Douglas Bech, Raintree’s CEO, tells GlobeSt.com. As the 12-year-old club hoists its 2008 sails, Bech says a Boston-based investment banking firm is in the midst of negotiations with equity investors to finance Raintree’s plan to acquire and develop additional resort properties.

The Diamond Resorts’ agreement is “a test to see if this is a good way to facilitate exchanges other than through the big exchange companies,” Bech explains. “It’s all about member satisfaction at properties. We think they’ll be happy with this. We think this is a good way to do it.”

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