01/16/2020
RAGATZ REALTY ANNOUNCES SALE OF LAKE TAHOE RESORTS
Ragatz Realty recently represented RWGroup in the sale of their resort timeshare assets to Holiday Inn Club Vacations Incorporated. The assets had been operating under the umbrella of The Ridge Resorts with four separate properties in the Lake Tahoe area of Nevada.
The four properties include The Ridge Tahoe, The Ridge Pointe, the Ridge View and The Ridge Crest. Collectively, they contain 378 units. The four individual properties have been rebranded as Holiday Inn Club Vacations Tahoe Ridge Resort, and is now operating as a single entity. The first Ridge property opened in 1983, as one of the largest and highest quality timeshare resort in the world at that time.
Richard Ragatz, President of Ragatz Realty and Ragatz Associates states, "We were very fortunate to have participated in this transaction, as it brings one of the landmark, regional timeshare companies in the country into the fold of one of the largest and most respected resort timeshare companies in the world. Both RWGroup and Holiday Inn Club Vacations have been consulting clients of Ragatz Associates in the past, and it has been a privilege to work with them under our brokerage group, Ragatz Realty."
Lex Adams, President of RWGroup comments, "We feel this was a very good move for the two companies, and we know that our employees, owners, members and the Property Owners Associations will greatly benefit from Holiday Inn Club Vacations. Dick Ragatz played a key role in the process, and for that we are thankful."
"In looking for opportunities to build our resort network, we seek out destinations that will provide both memorable and effortless experiences," said Tom Nelson, President and CEO of Holiday Inn Club Vacations Incorporated. "Our new Ridge Resort is a great addition for our Club members and guests who can enjoy access to world-class skiing without leaving the resort. It's also a great escape in the warmer months, thanks to its outdoor amenities and ideal location minutes away from Lake Tahoe." John Alvarez, Vice President of Acquisitions for Holiday Inn Club Vacations Incorporated also commented, "It was one of the smoothest transactions I've been a part of."
