ILX RESORTS INCORPORATED (AMEX: ILX) a leading developer, operator and marketer of upscale flexible?stay vacation ownership resorts in the Western United States, announced today that it has agreed in principle to strategic alliances with Consorcio Asag and Grupo Casa, both of Sonora, Mexico, to develop and expand the Company`s timeshare presence in Mexico and Latin America. Through its Premiere Vacation Club, the Company will develop and market properties in San Carlos and Puerto Penasco (“Rocky Point”) Mexico in the State of Sonora on the Sea of Cortez and proximate to other Premiere Vacation Club venues.
“These relationships will afford us the benefit of more than 100 years of combined real estate development expertise in Mexico and enable us to explore and penetrate a growing market that will be particularly attractive to our rapidly expanding Premiere Vacation Club owner base. We have worked closely with the principals of Consorcio Asag and Grupo Casa and are confident that the synergies among us are such to enable the Company to grow this important future segment of our business. While our initial projects will be modest in scale, it is our intention to expand these operations systematically and consistently, ” said Joe Martori, Chairman and CEO.
ILX Resorts Incorporated develops, operates and markets upscale vacation ownership resorts. The Company`s current portfolio of resorts consists of six resorts in Arizona, one in Indiana, one in Colorado, one in San Carlos, Mexico, and land adjacent to an existing resort in northern Arizona for which the Company holds development rights. The Company markets its vacation ownership interests primarily through its Premiere Vacation Club. Internet users can visit the ILX Resorts Incorporated web site at http://www.ilxresorts.com.