MIAMI—Festiva Development Group just added two more Florida resorts to its portfolio through the acquisition of Orlando-based Kosmas Group International and its subsidiary companies. The deal adds about 15,000 vacation owners and club members, 1,100 intervals, and 200 employees to the company.

As part of the acquisition, Festiva now owns Coconut Palms Beach Resort II in New Smyrna Beach, FL and Vacation Villas at Fantasyworld Two in Kissimmee, FL. The deal brings the number of Festiva's Florida offerings to five, expanding the company's presence in its most sought-after vacation destination.

"The acquisition of KGI greatly enhances our ability to generate future growth due to their superb marketing operation and the variety of services they provide," says Festiva president Butch Patrick. "This has the opportunity to greatly impact our company's trajectory, particularly with KGI's Lance Croft joining Festiva Development Group as our senior vice president of marketing."