Fractional Ownership News

Ultimate Escapes closes Colorado office

Ultimate Escapes, the world's only publicly-traded destination club, has closed its Fort Collins, Colorado office, consolidating its operations in Kansas City. The move is part of a bid to take "steps to increase cash flow in order to cover 2010 operational expenses" and monitor and reduce operating expenses. The company says the move will save it roughly $3 million per year.

Originally the home of Private Escapes, the Fort Collins arm has included sales, operations, finance, IT, member services, and other divisions for a number of years. Following the acquisition by Ultimate Escapes, many of these departments have transitioned to Kansas City and the club's headquarters in Kissimmee, Florida.

"Given what the economy has done in the last year, Ultimate Escapes, like all companies, is looking at ways to be more efficient for less costs," said chairman Richard Keith in a voice mail message with The Coloradoan. Members of the club who had previously had travel planners based in Fort Collins have been contacted and introduced to their new Escape Planners for future club travel.

www.ultimateescapes.com

29/08/10

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