World’s Finest Resorts Acquired by The Registry Collection

The World’s Finest Resorts,
the world’s leading provider of exchange benefits for luxury resort and
residential resort owners, was acquired by The Registry Collection, a
luxury exchange program offered by Resorts Condominiums International, LLC
(RCI), a subsidiary of Cendant Corporation, it was announced today. The acquisition allows the principals and executive management of The
World’s Finest Resorts to concentrate on the core business of Star Resort
Group (SRG). Star Resort Group, a pioneer in the fractional resort real
estate industry, is the premier developer, marketer and seller of luxury
fractionals, private residence clubs, multi-site clubs, condo-hotels,
timeshares, vacation ownership and whole ownership resort real estate
products in North America. Star Resort Group will continue to acquire,
develop, and market projects for its own account as well as provides sales
and marketing, development and management expertise to other hospitality
operators, landowners and builders. SRG provides financing assistance and
can become a strategic investor in instances where Star Resort Group is
involved in the development, marketing or management of a project.

In addition to trading, WFR members and owners are also able to use the
inherent value of their ownership for dramatic price reductions on luxury
travel and cruise programs with the finest independent companies in the
world. They may also purchase specially selected travel programs at a WFR
Member-only price, rent other accommodations available within the
Collection for their use and trade time in their accommodations. WFR,
founded in the United Kingdom in 1999 and in the United States in 2001 is
headquartered in Scottsdale, Arizona. The World’s Finest Resort has over
40 high-end resorts in its portfolio.

The Registry Collection exchange program is an international provider of
services to the luxury leisure real estate industry, with core
competencies in exchange services, club operations, travel networks,
concierge service, proprietary technology and quality assurance.

“The transition of The World’s Finest Resorts to The Registry Collection
will benefit our affiliates and allow Star Resort Group to concentrate on
our established expertise of developing and selling fractional
properties,” said Carl G. Berry, chief executive officer of Star Resort
Group, and one of the founders of The World’s Finest Resorts. “We have a
rich legacy of years of experience in sales and marketing services; we
will now be able to focus on working with developer’s to increase their
sales velocity and profitability.”

Rich Feldheim, CEO of Star Resort Holdings LLC said, “Our sales and
marketing expertise has generated more than $2 Billion in resort real
estate sales. After many years in this business we have learned what works
and what doesn’t. The developers we work with benefit from that
experience.”

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Star Resort Group’s founders conceived and built the first properties in
the shared resort real estate ownership industry and collectively
represent the most experienced and qualified entrepreneurs in the resort
real estate market. From pioneering fractionals, private residence clubs
and timeshare projects, SRG’s principals continue to serve as contemporary
leaders in the resort real estate industry. CEO of Star Resort Group is
Carl G. Berry and Richard M. Feldheim is CEO of Star Resorts Holdings,
LLC. John R. Kazanjian is its COO. David Hanna pilots the hospitality
division; Chris Tivey directs the marketing division and Bert Blicher
steers the finance component.

SRG has been responsible for the success of such well known projects as
Northstar Club (Lake Tahoe), Snowmass Club Phase I (Aspen/Snowmass, CO),
Manhattan Club (NYC), The Cottages at National Golf Club (Pinehurst), San
Francisco Suites and the first major branded timeshare, Holiday Clubs
International. SRG has currently initiated pre-sales for Front Four at
Stowe Mountain Lodge (Stowe, Vermont) representing approximately $100
million in fractional sales.
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