Revolution, the company created by AOL co-founder Steve Case, has announced it has acquired a controlling stake in Canopy Development. Canopy Development builds destination villages in breathtaking locations that preserve open space and celebrate local culture through an innovative development process.
Canopy was founded in 2004 by former Trust for Sustainable Development executive Tom Horton with the goal of transforming the resort development industry through a cleaner, healthier and more sustainable approach.
“We have an exciting and innovative model for destination resorts that will deliver the active and enriching family experiences that the new generation of travelers and second home-buyers is seeking,” said Horton. “Today’s worldly and discerning individuals and families want to spend time in uniquely beautiful places that are community-focused, rich in culture and natural history, and that encourage a healthy lifestyle.”
Market trends validate Horton’s assertions. Seventy-nine (79) percent of travel agents polled by American Express identified family travel as one of the most significantly increasing trends in 2005 and in a survey conducted by the International Ecotourism Society, 61 percent of the U.S. tourists surveyed agreed “travel experiences are better when the destination is a well-preserved natural, historical or cultural site.” Market demand for green building is expected to continue its rapid increase. A 2005 National Association of Home Builders study states that green building is forecast to grow from a $7.4 billion market in 2005 to $38 billion in 2010.
“We share Canopy’s vision of creating a new type of luxury resort that balances the growing focus on health and community with the innate human aspiration to be in pristine and healthy natural environments,” said Revolution Chairman and CEO Steve Case. “Together with Canopy, we will offer consumers an irresistible combination of luxury, sustainability and social consciousness which will make their vacation experiences fulfilling in every way.”
Canopy is currently seeking exceptional pieces of land of 2,000 acres or more in the U.S., Caribbean and Central America. The company’s responsible development approach provides landowners who value the natural integrity of their property and its surrounding eco-system with the opportunity to create a lasting legacy and have a positive local and global impact. Canopy’s new model is scaled to preserve large tracks of land for generations by building villages juxtaposed to pristine nature. The company, which strives to conserve 90 percent of each of its properties while developing 10 percent, employs innovative energy and infrastructure solutions, implementing forward-thinking conservation strategies and driving community development. Canopy provides a positive solution to land development issues that appeal to the interests of environmentalists, local governments, investors and landowners.