Press Releases

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Press Releases

Timeshare resort development lenders explain how they added a few “0’s” to initial investment of $2,683.11 (July 2017)
Bill Ryczek

From top left to right: Tom Petrisko, Fred Dauch and Bill Ryczek, RRP. Seated l. to r.: Mark Raunikar and Jim Bishop.

Middletown, CT; July 2017 – Bill Ryczek, a principal of Colebrook Financial Company, talks about the growth of his company—from a $2,683.11 initial investment in 1993 to being one of the leading lenders to the timeshare industry.

In the company’s recently-issued newsletter, The Colebrook Chronicle, Ryczek discusses the origins of the company, how it transitioned from a part-time investment to a full-time venture and some of the keys that made it happen. One of the most important ingredients for any company is money, and Ryczek notes that Colebrook currently has relationships with 14 banks. He is quoted in the article as saying, “We’ve been able to maintain the confidence of our banks most of all because the results have been good. We’ve done hundreds of millions of dollars in business with our banks and none has ever lost a dime.”

The Chronicle contains several articles of interest to professionals in the resort industry, including data from a Deloitte & Touche study reporting that timeshare sales experienced an uptick during the last quarter of 2016. The upswing of 6.4 percent – an increase from $1.664 to $1.771 billion – is a strong indicator of better days ahead.

Another article profiles ESJ Collections, which has committed $35 million towards a purpose-built, mixed use five-star property in San Juan, Puerto Rico. The company has already broken ground and commenced construction on ESJ Verde, after having completely renovated the iconic, 40-year-old El San Juan Hotel, which offers a vacation ownership component. A third project, ESJ Noir, is in the planning stage.

Colebrook’s newsletter generally contains at least one human interest story, and this issue’s offering tells how a law school graduate-cum-timeshare resort development president has somehow found the time and inner resources to encourage her six-year-old daughter’s flourishing modeling career. FantaSea Resort’s Roxanne Passarella shows how to be a strong leader both at home and in the business world.

Those grappling with issues attending the processing of credit cards will find an interview of Gildersleeve Partners, LLC, CEO Larry Gildersleeve to be of interest. Colebrook tops off the eight-pager with a report on the positive performance of its timeshare portfolio.

About Colebrook Financial Company

Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

Media Contact for Colebrook Financial Company:

Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Financial Company Celebrates 15th Anniversary (January 2017)
Bill Ryczek

Bill Ryczek

Middletown, CT; January 2017 – Bill Ryczek, a principal of Colebrook Financial Company, announced his firm is celebrating fifteen years as a lending institution specializing in the timeshare industry.

When they opened their doors in January 2003, Colebrook was mostly financing small developers, lending against B credit portfolios, and taking on projects that contained a little more risk than the average development. Over the next few years the company grew and began to deal with slightly larger loans and stronger developers.

“Then came the Crash of 2008,” Ryczek said. That Fall, two of the largest lenders to the timeshare industry announced they would no longer finance timeshare developers. What had been a buyer’s market for money turned into a seller’s market overnight and Colebrook, with capital and experience, was able to establish relationships with some of the leading private companies in the industry. Over the next two years, the company completed the transition from boutique lender to mainstream timeshare lender offering a wide array of competitively-priced products.

Financial trends are transitory, and the seller’s market for money eventually became a buyer’s market again. By that time, however, Colebrook had established its reputation as a leading timeshare lender. Old competitors have left the marketplace, a few new entrants arrived, and Colebrook is now one of the very few companies with a consistent presence over the past decade and a half. “The company’s first 15 years took us from start-up to stability.” Ryczek said. “Everybody who started the company is still here, still enthusiastic, and looking forward to seeing what the next fifteen years will bring.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Financial providing timeshare receivables financing for purchasers of club membership in The Ridge Resorts (December 2016)
Bill Ryczek

The Ridge Tahoe

Middletown, CT; December 2016 – Bill Ryczek, a principal of Colebrook Financial Company, a lending institution specializing in the timeshare industry, announced his firm will be providing new financing for a portfolio of receivables for Resort Investment Capital, a RWGroup company. RWGroup operates Resort West Vacation Club, which is headquartered in the Lake Tahoe area. The Club owns accommodations at The Ridge Tahoe, Ridge Crest, Ridge View and Ridge Point, to which it assigns nightly point values based on unit type, season and resort property.

“Our team at Colebrook began our relationship with the club’s principals in 1988, while working with another institution,” says Ryczek. “They were among our earliest clients after we launched Colebrook and we have enjoyed working with them since 2003.”

“We’ve been happy to rely on Bill and the Colebrook team for their responsiveness and keen business sense, ever since we first met them,” says Resort Investment Capital and Resort West Vacation Club President Lex W. Adams. “Colebrook made the process of increasing our existing loan extremely easy; there was no long, drawn-out committee approval process. We’ll be using the financing to fund an ongoing expansion and growth program.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

RWGroup
About RWGroup
The RWGroup was formed in 1988 by a successful group of resort professionals. The team provides a substantial breadth of experience in the hospitality field with backgrounds in real estate development and sales, hotel and resort operations, homeowner association management, accounting and administration.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Timeshare Lender Colebrook Offering Loans to Mexican & Caribbean Resorts (June 2016)
Bill Ryczek

Bill Ryczek, Colebrook Financial Company

Middletown, CT – June 2016 – Colebrook Financial Company, a lending institution specializing in the timeshare industry, announced they have funds available for financing receivables in Mexico and the Caribbean.

“We’ve done a number of transactions with developers whose resorts are located outside the U.S., and who are selling a membership product to Americans,” says Colebrook Financial Principal Bill Ryczek. “Typically in the past, lenders were reluctant to provide receivables financing for products that did not have a real estate component or were located in foreign countries. We decided to step up several years ago to finance foreign projects that are well capitalized and have reputations for sound sales practices. The demographics of foreign travelers tend to be strong, which is reflected in the excellent performance we’ve seen in the receivables.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Timeshare Lender Colebrook to Finance staySky® Vacation Clubs (April 2016)
L - R, Bill Ryczek and John Gordon

L – R, Bill Ryczek and John Gordon

Middletown, CT – April 2016 – Colebrook Financial Company, a lending institution specializing in the timeshare industry, announced that they recently provided receivable financing for staySky® Vacation Clubs. Launched in 2014, staySky® Vacation Clubs is a points-based vacation ownership product that features four properties, each in the heart of Orlando’s thriving tourism “The staySky organization is relatively new to the timeshare scene, and we are very pleased to get in on the ground floor with the intention of growing along with them over the next several years,” said Colebrook’s Bill Ryczek.

“We have a fairly complex business model, and Colebrook was able to come up with a financing proposal to accommodate our structure,” says staySky CEO John Gordon. “We’re very pleased with the relationship.” 

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

Stay Sky Press Release

About staySky Vacation Clubs
staySky® Vacation Clubs is a dynamic points-based program offering members the ultimate flexibility and control over their vacation lifestyle. Members can use their staySky® Points in a variety of ways, including accessing vacation resorts worldwide through staySky® Vacation Clubs’ partnership with Interval International’s global points system; banking their points for use in the following year; borrowing points for more vacation time in the current year; or earning staySky® Escapes reward credits to enhance their vacation experience. For more information, visit staySkyVacationClubs.com.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Timeshare lender Colebrook publishes industry newsletter (January 2016)
Bill Ryczek

Bill Ryczek, Colebrook Financial Company

Middletown, CT; January 2016 – Colebrook Financial Company, a lending institution specializing strictly in the timeshare industry, issued their eighth edition of their newsletter The Colebrook Chronicle – providing in-depth information about the direction of the industry.

Bill Ryczek and his team always manage to inject a note of humor while covering important and interesting information, theming this issue “Something Old, Something New, Something Borrowed, and Something Blue.”

“In our lineup of articles,” read the Editor’s Note, “we have something old, if he will pardon the label, in industry veteran Herb Hirsch; something new, dynamic young Patton Hospitality CEO Will Horton; something borrowed as discussed in Bill Ryczek’s article on hypothecation loans; and finally, we have beautiful Blue Water Resort in Nassau.”

“There are a couple of other articles that don’t fit the theme, and we utilized the old trick of getting your attention by using a photo of a beautiful actress who is only peripherally connected to the subject matter.” The photo is of Herb Hirsch, together with Bo Derek, circa 1985. To find out more, check out the January 2016 edition of The Colebrook Chronicle.

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Timeshare lender Colebrook increases line for King’s Creek Plantation (October 2015)
Bill Ryczek

Bill Ryczek, Colebrook Financial Company

Middletown, CT; October 2015 – Colebrook Financial Company, a lending institution specializing strictly in the timeshare industry, announced they had increased their line of credit for the Williamsburg, Virginia, timeshare developer King’s Creek Plantation from $10 to $13 million, including a second fixed-rate tranche.

“We’ve worked with King’s Creek since 2012,” says Colebrook Principal Bill Ryczek. “I have great confidence in the management team; they’re hard-working, straightforward, and have built a superior product.”

Joe Cantrell, King's Creek Plantation

Joe Cantrell, King’s Creek Plantation

King’s Creek Plantation Executive VP/COO/CFO Joe Cantrell says, “We greatly value our relationship with Colebrook. They’ve been great partners over the past several years, and we’re looking forward to continuing what has proven to be a mutually satisfying relationship.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About King’s Creek Plantation
Situated in Williamsburg, Virginia, King’s Creek Plantation is an Interval International 5-Star Resort located within easy access of the Colonial Parkway, which links Williamsburg to historic Jamestown and Yorktown. The resort features one, two, three and four bedroom homes amidst a complex offering multiple swimming pools, a year-round indoor aquatic center, jetted pools, saunas, large workout room, tennis courts, a basketball court, picnic areas, playgrounds, an 18-hole miniature golf course, jogging trail and more in a gated community. For more information, call 866-228-6796 or visit http://www.kingscreekplantation.com.

king's_creek

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Financial Company extends River Run Company loan (August 2015)
Joe Berry, President, River Run Company

Joe Berry, President, River Run Company

Middletown, CT; August 2015 – Colebrook Financial Company, a prominent lender relied upon by timeshare resort companies, announced the two-year extension of a line of credit to River Run Company, located in North Conway, New Hampshire.

“Colebrook became our lender in 2009 at the height of the recession after our previous lender exited the business,” says River Run Company President Joe Berry. “They placed their faith in us and we’ve had a great relationship ever since. Due in part to their continuing support we’ve been able to build new inventory at the Eastern Slope Inn and at our Attitash Mountain Village properties. I’m happy to say we are recognizing a steady rate of sales at both locations.”

Bill Ryczek

Bill Ryczek, Colebrook Financial Company

“Joe Berry is one of the legendary figures of the New England vacation ownership industry, and we are delighted to be a part of his continuing development of the Eastern Slope Inn and Attitash Mountain Village,” says Colebrook Financial Principal Bill Ryczek.

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About River Run
For more than 30 years, River Run Company, Inc. has been serving the commercial development needs of the Mount Washington Valley in New Hampshire. River Run Co. also develops and manages timeshare and whole ownership vacation properties including the Eastern Slope Inn Resort, located in North Conway, New Hampshire, and condominiums in Attitash Mountain Village. River Run Company’s residential and commercial land development initiatives division is involved in premier projects, including master-planned communities and commercial interests.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Financial Company provides fixed rate $7.5mm loan to Festiva Resorts (August 2015)
Herbert "Butch" Patrick

Herbert “Butch” Patrick

Middletown, CT; August 2015 – Colebrook Financial Company, specializing in making loans to timeshare resort operators, says they were able to re-finance a $7.5 million loan to Festiva Resort Group, LLC, by offering a very competitive fixed rate.

“We very much appreciate working with Colebrook to lock in our margins to refinance a portfolio that was associated with our earlier acquisition of the Kosmas Group International properties,” says Festiva’s President Herbert (Butch) Patrick. “Colebrook has been a solid company with which to work since 2003 when they lent us our first million.”

Bill Ryczek

Bill Ryczek, Colebrook Financial Company

“We’re pleased to continue to expand our lending to Festiva,” said Colebrook’s Bill Ryczek. “We’ve worked with the management team there for well over a decade, and it’s a good, comfortable relationship. One of the things I’ve always enjoyed about lending is watching customers grow and evolve, and it’s been great having a front row seat as Butch Patrick and his staff have gone from a two-man show and a marketing company to a dynamic multi-division company.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About Festiva Development Group, LLC
Festiva operates boutique interval ownership resorts, cruise club destinations, and an adventure club in the United States and the Caribbean. Festiva was founded in 2000 and is located in Orlando, FL.

Festiva Resorts

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Lenders’ Timeshare Education Seminar scheduled for Thursday, September 24th in Connecticut (July 2015)

seminar

Middletown, CT; July 2015 – Colebrook Financial Company, a provider of financing for timeshare resort developers, has set the date for its seventh annual “Timeshare Lender Education Seminar.” The event features influential professionals whose organizations focus on the timeshare industry and will be held on September 24, 2015, at the Inn at Middletown in Middletown, Connecticut.

More than 50 bankers, accountants and attorneys are expected to attend the by-invitation-only event. Howard Nusbaum (pictured left), CEO of ARDA, who has spoken at each of the six prior sessions, will inform the audience of developments in the timeshare industry during the past year.

Other speakers include Gold Key/PHR Hotels & Resorts Chief Investment Officer Robert “Bob” Howard, digital transaction experts eOriginal CEO Stephen Bisbee and President & CEO of Welk Resorts Jonathan P. Fredricks RRP*.

Ryczek_B_02

“Attendees at prior events tell us our annual seminar provides an excellent introduction to the timeshare industry,” says Colebrook Financial Company Principal Bill Ryczek RRP* (pictured right). “In fact, many of our banking partners and other interested parties return year after year to get an update on the industry, as well as to network among their peers. Colebrook acts proactively to nurture banking relationships of this sort. The increased capacity enables us to structure larger financing packages on more competitive terms.

Ryczek, Jim Bishop, Fred Dauch, Tom Petrisko, and Mark Raunikar from Colebrook Financial Company will officiate at the event and will be available to answer questions afterward. Any lender, attorney or accountant who is interested in attending should contact Bill at bryczek@colebrookfinancial.com for details.

*Fredricks and Ryczek are registered resort professionals with the American Resort Development Association (ARDA), Washington, DC.

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook announces loan to FantaSea Resorts (June 2015)

Ryczek_B_02

Middletown, CT; June 2015 – Timeshare development/vacation ownership specialty lender Colebrook Financial Company announced the finalization of a loan to FantaSea Resorts for acquisition of inventory at Atlantic Palace Resort in Atlantic City, New Jersey. Colebrook finances all three of FantaSea Resorts’ Atlantic City properties—Flagship, LaSammana and Atlantic Palace.

“Bruce Kaye and his companies have been the leaders in the Atlantic City timeshare market for over 20 years,” says Colebrook Financial Partner Bill Ryczek (pictured here). “We’re delighted to assist him in expanding his operation.”

“The principals at Colebrook have been terrific partners for us since 2009 and were particularly supportive throughout the recent recession,” says FantaSea Resorts CEO Bruce Kaye. “They go the extra mile to make themselves available to answer questions or to help solve any problems. We look forward to continuing our relationship for many more years.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About FantaSea Resorts
FantaSea Resorts is proud to be the premier independent provider of Vacation Ownership products and services in the Northeast. Since coming to Atlantic City in 1992, our portfolio of properties has grown to include three unique resorts that include 700+ units, making us the largest non-casino hospitality provider in the entire city. Whether you choose Flagship or La Sammana, one of our properties will be certain to satisfy your unique tastes.

As the largest private employer in Atlantic City and one of the largest in all of Atlantic County, we are committed to delivering a high level of personal service to each of our over 37,000 owners. We are dedicated to delivering memorable vacation experiences both in Atlantic City and throughout the world with our global exchange partners, RCI and Interval International.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook provides fixed rate loan to Global for points-based club timeshare receivables (May 2015)

Middletown, CT; May 2015 – Colebrook Financial Company, a lender specializing in the timeshare or vacation ownership industry, announced they recently closed a loan with Global Exchange Development Corporation (GEDC) in which they converted a portion of Global’s variable rate loan to a fixed rate.

“The partners at Colebrook take the time to truly look at our business model and are willing to go that extra mile,” says GEDC President Rick Sargent. “They are attentive to our needs and together, we are able to make money while putting people on vacation.”

“Developers like Rick are concerned about the possibility of rising interest rates,” said Colebrook’s Bill Ryczek, “and we move a portion of his loan to a fixed rate on a regular basis.  Rick has a lot of exciting new marketing initiatives and we look forward to growing with him over the next several years.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About Global Exchange Development Corporation (GEDC)
A leader in the timeshare club industry, GEDC has developed Global Exchange Vacation Club (GEVC), which is powered by RCI points and offers a variety of flexible getaway opportunities for timeshare club members. The company provides members with a lifetime of memorable vacation experiences and enhances the quality of their lives through the flexibility of its customized points based vacation ownership system. Their commitment to the highest standards of quality and service is what has made GEDC a leader in the global timeshare club industry.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook finances purchase of Hawaii timeshare resort inventory for Vacation Internationale (March 2015)

Vacation Internationale

Middletown, CT; March 2015 – Timeshare development/vacation ownership specialty lender Colebrook Financial Company announced they recently provided financing to enable Vacation Ownership Sales, Inc. (VOS) to acquire 44 one- and two-bedroom condominium units in the Sea Village Resort at Kailua-Kona on the Big Island. The units were acquired for Vacation Internationale (VI), the oldest points-based, multi-site vacation club in North America, which was started in Hawaii in 1974. VOS has been the management and sales company for VI since 2003. The club currently has over 44,000 members and a resort network of over 40 destinations in the US, Canada, and Mexico.

“We are very pleased with our long-term relationship with Colebrook and its ability to help us grow VI over the past ten years,” said Stuart Allen and Mike Vasey, owners of Vacation Ownership Sales.

Allen and Vasey added that the VI owners association had targeted the inventory at the Sea Village Resort for many years as part of its economic sustainability and growth strategy. Hawaii is a much-desired destination for VI owners, and the additional inventory provides more opportunities for owners to visit the islands.

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About Vacation Ownership Sales, Inc.
Vacation Ownership Sales, Inc. provides management, marketing and sales services to Vacation Internationale, the oldest points-based multi-site vacation club in North America. Based in Bellevue, Washington, VOS and VI have created a uniquely successful business model of a non-profit owner-controlled club working together with a privately held management, marketing and sales company to grow the club more than 25 percent in the past 10 years.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook increases loan to FantaSea Resorts (March 2015)

Middletown, CT; March 2015 – Timeshare development/vacation ownership specialty lender Colebrook Financial Company recently finalized an increase of an existing loan to FantaSea Resorts that includes a fixed rate tranche to finance sales at the Atlantic Palace Resort in Atlantic City, New Jersey. Colebrook Financial’s Bill Ryczek says they have had a relationship with the organization since 2009.

“Bruce Kaye and his companies have been the leaders in the Atlantic City timeshare market for over 20 years,” says Ryczek. “He has continued to prosper through numerous gaming cycles, and the strength of his organization enables him to succeed even in difficult times. We’re delighted to have the opportunity to expand our relationship with an excellent customer.”

“We have enjoyed working with the team at Colebrook over the years,” says FantaSea Resorts CEO Bruce Kaye. “They are always very accessible; you can always get any questions answered readily and thoughtfully. I’m looking forward to continuing our relationship for many more years.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About FantaSea Resorts
FantaSea Resorts is proud to be the premier independent provider of Vacation Ownership products and services in the Northeast. Since coming to Atlantic City in 1992, our portfolio of properties has grown to include two unique resorts that include 500 units, making us the largest non-casino hospitality provider in the entire city. Whether you choose Flagship or La Sammana, one of our properties will be certain to satisfy your unique tastes.

As the largest private employer in Atlantic City and one of the largest in all of Atlantic County, we are committed to delivering a high level of personal service to each of our over 30,000 owners. We are dedicated to delivering memorable vacation experiences both in Atlantic City and throughout the world with our global exchange partners, RCI and Interval International.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook’s Bill Ryczek to participate on ARDA World panel on April 14, 2015

Bill RyczekMiddletown, CT; March 2015 – Colebrook Financial Company Principal Bill Ryczek says he will provide a lender’s perspective on short-term vacation ownership products as a panel member during the upcoming ARDA World Convention being held in Orlando. The session “Short-term Fever: Variable-term Vacation Products – Time for a New Approach?” will be presented on April 14, 2015 from 2:45 p.m. – 4:00 p.m. EST. Colebrook is a well-known provider of receivables financing for timeshare resorts/vacation ownership companies. During the educational session, Ryczek joins a panel of experts drawn from various disciplines within the industry and will take a look short-term, fixed term and diminishing-use timeshare products and travel clubs.

“The use of variable and limited duration offerings confirms the concept that timeshare is a vacation product and not a real estate investment,” said Ryczek. “I think we’re going to see greater use of such products, and we’ve tried to get on the cutting edge of the financing part of the equation.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook finalizes a $10mm, fixed rate loan to Starpoint (January 2015)

Middletown, CT; January 2015 – Colebrook Financial Company, which provides receivables financing for timeshare resorts/vacation ownership companies, announced they are providing a $10 million receivable traunche, fixed-rate refinancing loan to Starpoint Resort Group, Inc. Starpoint, a subsidiary of BQ Resorts LLC, is the developer of Sapphire Resorts which is a multi-site timeshare club comprised of 21 resorts based in Las Vegas, Nevada.

“We have enjoyed having a long and stable relationship with Starpoint,” says Colebrook Financial Principal Bill Ryczek. “This will be our eleventh year to provide end-loan receivables financing for them.”

“Colebrook has always been a supportive and creative partner to us,” says Starpoint CEO Mike Muldoon. “Their business philosophy is similar to ours; we strive to deliver an excellent product and to exceed customer expectations. Over the years, we’ve witnessed this attitude in the professionals at Colebrook; they are always accessible and collaborative.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About Starpoint Resort Group
Starpoint, a subsidiary of BQ Resorts LLC, is the developer of Sapphire Resorts which is a multi-site timeshare club comprised of 21 resorts based in Las Vegas, Nevada. The company is active in all facets of the hospitality industry including resort development, property and resort management, sales and marketing. They manage four timeshare clubs, 21 timeshare resorts, several condominium projects and the vacation interests of approximately 50,000 owners throughout Canada, the U.S., the Caribbean and Central America, in addition to well scaled sales and marketing operations which grow both the platform and scale of members to be serviced.

starpoint

About BQ Resorts LLC
BQ Resorts, a privately held company, is focused on the timeshare/hospitality space and owns companies including Starpoint Resorts, GeoHoliday Club, GetAways Resort Management and Sapphire Resorts. Leveraging its strategic partnership with TZP Group, a New York based private equity firm, it continues to expand its core business platforms through organic growth and strategic acquisition. Under its ownership umbrella are four timeshare clubs, 22 resorts under management, two resort and property management companies, an active sales and marketing company, and approximately 50,000 timeshare members throughout Canada, Costa Rica, the U.S. and the Caribbean.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

Contact for Starpoint Resort Group Inc.:
Alan Dickler, COO
ADickler@StarpointResorts.com

 

Colebrook Financial Company builds lending relationship with London Bridge Resort (September 2014)

News_Colebrook lends to London Bridge Resort_Oct 2014Middletown, CT; September 2014 – Colebrook Financial Company, which provides receivables financing for vacation ownership/timeshare resort companies, announced they have established a new lending relationship with the London Bridge Resort, in Lake Havasu City, Arizona. Colebrook will be underwriting a portfolio of timeshare resort receivables.

“London Bridge is a mature resort with a long history of successful operations,” says Colebrook Principal Bill Ryczek. “We’re delighted to have them as a customer.”

“It’s been awhile since we’ve done receivable financing, and Colebrook’s attorney was extremely helpful in walking us through the process,” says London Bridge Resort President Tom Flatley.

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About London Bridge Resort
London Bridge Resort is an all-suite property on Lake Havasu’s Bridgewater Channel. Located between Phoenix and Las Vegas, this waterfront resort offers on-site restaurants and nightclubs, 12,000 square feet of event space, 122 diverse suites, diverse Arizona vacation packages and many on-site amenities. Whether guests are traveling for business or leisure, with a large group or alone, they’re sure to find the perfect accommodations to suit their needs at this Lake Havasu resort. More information about London Bridge Resort is available at: www.londonbridgeresort.com.

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Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Financial Company increases Starpoint Resort Group loan to $15mm; total commitments now $32mm (September 2014)
Colebrook Financial Company expedited deal to finance end-loan receivables for large vacation ownership marketing, sales and management company.

Middletown, CT; September 2014 – Colebrook Financial Company, which provides receivables financing for timeshare resorts/vacation ownership companies, announced they increased one of their lines of credit to Starpoint Resort Group, Inc. from $10 million to $15 million, making their total commitment $32 million.

“We were able to provide increased financing for Starpoint quickly to meet the company’s schedule,” says Colebrook Financial Principal Bill Ryczek. “Mike Muldoon and his company have been customers since 2003, when he had a $3 million line. He wanted to move some paper around recently, and we moved very quickly to increase the line and get it done.”

Starpoint has shown significant growth since its inception. Last year they announced the acquisition of The Geo Group of Companies which included the acquisition of numerous timeshare clubs, resorts and management contracts throughout Canada, the United States, the Caribbean and Central America. Starpoint has continued with their acquisition strategy this year and enjoys a strategic partnership with TZP Group, a New York based private equity firm.

“Opportunism requires access to aggressive, creative and capable professionals,” says Muldoon, “and Colebrook has consistently displayed their creative and hard working ability to get it done. Everyone in the company, and particularly Mark Raunikar, has been extremely accessible and a pleasure to collaborate with. They always pick up the phone when you call and really make an effort to make things work for all parties.”

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396.

About Starpoint Resort Group
Starpoint Resort Group, Inc. is a privately held company whose executive management team averages more than 30 years of proven performance and experience in the timeshare and hospitality industry. Based in Las Vegas, Nevada, the company is active in all facets of the hospitality industry including resort development, property and resort management, sales and marketing. They manage four timeshare clubs, 21 timeshare resorts, several condominium projects and the vacation interests of approximately 50,000 owners throughout Canada, the U.S., the Caribbean and Central America, in addition to well scaled sales and marketing operations which grow both the platform and scale of members to be serviced.

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Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

Contact for Starpoint Resort Group Inc.:
Alan Dickler, COO
ADickler@StarpointResorts.com

 

Colebrook Financial and Festiva enhance long-term lending relationship (July 2014)

Middletown, CT; July 2014 – Colebrook Financial Company, which provides financing for timeshare resort entities and has worked with Festiva Development Group since 2003, announced it is expanding the interval ownership company’s existing loan and setting up a $10 million fixed rate term loan tranche.

“We very much appreciate working with Colebrook and having the opportunity to lock in our margins with fixed rate financing,” says Festiva’s President Herbert (Butch) Patrick. “Colebrook’s rate for this loan is very competitive, and their management team is extraordinarily flexible and patient. For example, I think of how they bent over backwards to assist us in financing a recent acquisition; even to the point of one of them, Tom Petrisko, flying halfway across the country to retrieve the collateral and resolve a logistical problem.”

“We find working with Festiva and their management to be very rewarding,” says Colebrook Principal Bill Ryczek. “They’re a dynamic organization and it’s sometimes a challenge to keep up with them, but it’s never dull. Watching them grow from their modest beginnings to what they are today has been fascinating, and I’ve learned a tremendous amount from Butch over the years.”

About Festiva Development Group, LLC
Festiva operates boutique interval ownership resorts, cruise club destinations, and an adventure club in the United States and the Caribbean. Festiva was founded in 2000 and is located in Orlando, FL.

festiva

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized developers in the US, Mexico, and the Caribbean. Colebrook is large enough to provide financing in the $20-$30 million range, but small enough to deliver a unique brand of personal service. For further information, call Bill Ryczek at 860-344-9396

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook and Amber Group, Inc. announce HOA Financing (June 2014)
Colebrook Financial Company provides refurbishment loan for two Amber Vacation Club projects in the Orlando area.

Middletown, CT; June 2014 – Colebrook Financial Company, which provides financing for timeshare resort entities, announced recently they had closed a deal with a timeshare resort homeowners association (HOA) to assist in refurbishing two conjoining resorts – Alhambra at Poinciana and Alhambra Villas – near Kissimmee, Florida. The loan was facilitated by the Amber Group, Inc., which manages both properties.

“The loan enabled what had been a piecemeal renovation to take place in one phase, without burdening the owners with a special assessment,” said Colebrook Financial Principal Bill Ryczek. “A key reason for us to make the loan was the fact that the projects are professionally managed by Amber, which was able to provide us with complete information on the scope and timing of the renovation project. Many older resorts (or ‘legacy’ as they are often called) are in a similar condition and contemplating renovation projects. If a project is healthy, we may be able to help them.”

“The principals at Colebrook made the process pretty much wrinkle-free for us,” said Amber Group, Inc. COO Nick Gray. “We met with them in Orlando to discuss the process and there was very little red tape to go through since they understand timeshare and appreciated our business model.”

Gray explained that when they began managing the resorts, the reserves had been depleted and the units were in need of extensive maintenance. “We brought the resorts back to health by refurbishing them gradually,” he added. “There came a point at which RCI would have given them Gold Crown status, but we wanted to wait until they had been completely renovated. We calculated that by borrowing the $25,000 per unit to refurbish all the units, we would be spending the same dollars, including interest, as we would by continuing to renovate them gradually over the same period of time.”

About Amber Group, Inc.
Established in 1994, the Amber Group manages Amber Vacation Club and Amber Resort Management, which provide central reservations, owner services and resort management to 16,000 owners at three resort locations as well as three additional affiliate sites. Currently, Amber is actively seeking affiliate sites and management opportunities, and developing a plan for expansion of Amber Vacation Club benefits. (www.ambervacations.com)

About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized developers in the US, Mexico, and the Caribbean. Colebrook is large enough to provide financing in the $20-$30 million range, but small enough to deliver a unique brand of personal service. For further information, call Bill Ryczek at 860-344-9396

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Financial agrees to finance sales for Highlands Resorts at The Christie Lodge (February 2014)
Colebrook to finance up to $10M in timeshare sales at Colorado Resort

Middletown, CT; February 2014 – Colebrook Financial Company, providing timeshare receivable financing for timeshare resort companies, agreed to lend up to $10,000,000 to Highlands Resorts to finance re-sales at The Christie Lodge in Avon, Colorado.

The Christie Lodge has been a successful timeshare in the Vail Valley for 31 years. Located within minutes of two world-class ski resorts, The Christie Lodge is in a prime location to access year-round mountain activities.

“We’re thrilled to have partnered with Todd Herrick and Highlands Resorts, as their strength and success in sales is a perfect match for our experience and passion for hospitality,” says Lisa Siegert-Free, Managing Director and General Manager of The Christie Lodge.

The Highlands Resorts companies, owned and operated by Todd Herrick, develop and sell vacation ownership resorts at the Sedona Pines in Sedona, Arizona, Highlands Resort at Verde Ridge in Cornville, Arizona, and the Dunes Club in Palm Springs, California. Todd Herrick is also the managing partner of The Peaks Resort in Telluride, Colorado. Colebrook has been providing financing for the Sedona Pines and Verde Ridge projects for the past four years. Highlands has immediate plans to expand further in the Southwest and Colebrook looks forward to partnering on these projects.

“The Christie Lodge is a mature, well-managed property in a terrific location,” says Colebrook Partner Bill Ryczek. “Todd Herrick has been a great customer, and when he had the opportunity to enter into a relationship with the Christie Lodge, we were delighted to be a part of it. Todd operates the way we do—he’s focused, direct, and gets right to the point. We really enjoy working with him.”

“We feel fortunate to have aligned with The Christie Lodge,” says Herrick, “which has a similar history of long-term employee retention, business practices and longevity in the industry, and with Colebrook, which has been a terrific lending partner for us over the years. We are one of the few developers in the United States to be developing new products at this time, and appreciate working with a finance company flexible enough to handle our growth. Plus, the partners at Colebrook are totally hands-on and available whenever we call on them.”

About The Christie Lodge

The Christie Lodge is a timeshare and rental resort located in Avon, Colorado. Two miles from Beaver Creek Resort and ten miles from Vail Mountain, The Christie Lodge is centrally located to two world-class mountain resorts. A long-time associate of the RCI Weeks program, more recently The Christie Lodge has affiliated with RCI Points Platinum to add additional value and flexibility to their owners.

About Colebrook Financial Company

Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized developers in the US, Mexico, and the Caribbean. Colebrook is large enough to provide financing in the $20-$30 million range, but small enough to deliver a unique brand of personal service. For further information, call Bill Ryczek at 860-344-9396.

About Highlands Resorts

Highlands Resorts is owned and operated by Todd Herrick and has enjoyed strong success in the Southwestern United States. HR is currently developing and selling Sedona Pines Resort in Sedona, Arizona; Highlands Resort at Verde Ridge in Cornville, Arizona, and the Dunes Club in Palm Springs, California.

Media Contact for Christie Lodge:
Tom Butz
Director of Resort Sales and Marketing
1-970-845-4527; tbutz@christielodge.com

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook completes transaction with Starpoint Resort Group, Inc. (December 2013)
Colebrook Financial Company announces they have signed a deal to finance end-loan receivables for large vacation ownership resorts marketing, sales, and management company.

Middletown, CT; December 2013 – Colebrook Financial Company, which provides receivables financing for timeshare resort companies, announced that they just closed a new transaction with Starpoint Resort Group, Inc., headquartered in Las Vegas.

“We’ve been a financing source for Mike Muldoon and Starpoint for over ten years,” said Colebrook Financial Principal Bill Ryczek, “and it’s been remarkable to see what Mike has done with the company over that period. He’s one of the hardest-working people you’ll ever meet, and we’re very happy for him.”

Starpoint has shown significant growth since its inception and in the spring of this year announced the acquisition of The Geo Group of Companies, which boasts resorts located throughout Canada, the United States, the Caribbean and Central America. At roughly the same time, the company announced a strategic partnership with a private equity company, TZP Capital Partners I, based in New York City.

“Colebrook was there for us in the beginning,” said Starpoint CEO Michael Muldoon, “when we were a lot smaller than we are now. The group, especially Mark Raunikar, was a great sounding board and resource for me as I was growing the company. I didn’t have a big staff and Mark was always there to listen and provide feedback.”

About Starpoint Resort Group, Inc.

Starpoint Resort Group has approximately 30,000 timeshare owners/members at 24 resorts around the world. The company also performs property management for four timeshare membership clubs and six resorts located in four countries and continues to expand the company’s footprint by providing resorts with an outlet for unsold inventory and/or full management services. Starpoint expects to close two acquisition transactions that will allow it to go into 2014 with more than 20 resorts and 50,000+ members and owners under management in U.S., Canada, the Caribbean, and Central America.

starpoint

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook and Festiva expand lending relationship (October 2013)
Colebrook Financial Company announces they have increased one of their loans to Festiva Development Group, LLC.

Middletown, CT; October 2013 – Colebrook Financial Company, which provides receivables financing for timeshare resort developers, announced that they just closed a new transaction with Festiva Development Group, LLC, located in Asheville, NC.

“We’ve had a great relationship with Festiva and their management over the past ten years,” says Colebrook Principal Bill Ryczek. “In 2003 we were both small companies just starting out, and it’s been so gratifying to see Butch and Don build a not just a timeshare company, but a terrific, diversified hospitality organization.”

“Festiva and Colebrook are pleased to see this latest development in growing a mutually beneficial and long-term relationship,” says Festiva’s President Herbert (Butch) Patrick. “Our association with them began with a $1 million loan in 2003 and they are now one of our key lenders with a relationship of more than $20 million. Colebrook has been a great partner; they’ve been a great help and a strong, consistent ally.”

About Festiva Development Group, LLC

Festiva operates boutique interval ownership resorts, cruise club destinations, and an adventure club in the United States and the Caribbean. Festiva was founded in 2000 as Festiva Resorts and is based in Asheville, North Carolina.

festiva

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook becomes lender to CLC World Resorts & Hotels (August 2013)
Colebrook Financial Company announces they have closed a loan for timeshare receivables for CLC World’s first U.S.-based resort.

Middletown, CT; June 2013 – Colebrook Financial Company, which provides timeshare receivables financing for timeshare resort developers, announced the closing of a transaction with CLC World Resorts & Hotels, a major European timeshare developer, to finance American purchasers at the company’s first U.S. timeshare project, Encantada Resort in Kissimmee, Florida. In addition to starting sales at Encantada in April of this year, CLC World will soon be selling timeshare at another Orlando area-based resort it is developing, Regal Oaks in Kissimmee, FL.

“We were very impressed with what Club La Costa has accomplished in Europe, and with the caliber of their executive management,” says Colebrook Principal Bill Ryczek. “This is their first fractional venture into the U.S. market. We feel we are a good fit for them because we are willing to start from a small base and grow with a company. We look forward to talking with them about future projects.”

“Colebrook’s principals impressed us with their accessibility and emphasis on building a long-term relationship,” says CLC USA Chief Executive Officer Marty Kandel. “As a European developer, this was crucial to our decision and we are happy to be working with them. We have a unique business model and strategy enabling us to leverage our global marketing opportunities to sell fractional or whole product to both U.S. and European citizens. The results are already very promising.”

About CLC World Resorts & Hotels

CLC World Resorts & Hotels is a leading provider of mixed use holiday products in Europe. The private members’ club that began in 1984 has over 50,000 members and 28 mixed use resorts worldwide, including the UK, Spain, Tenerife, Austria, Turkey, Australia and the USA, as well as the Club La Costa Yacht Club. The company has its own resort management team, a rapidly expanding freehold property division and an in-house travel department serving its members.

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Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Tom Petrisko joins Colebrook Financial (July 2013)

petrisko
Middletown, CT; July 2013 – Colebrook Financial Company, a premier lending institution in the timeshare industry, announced Tom Petrisko has joined the firm as a partner. His responsibilities include working with existing clients, as well as forging new relationships with resort and club developers.

“Colebrook’s team was impressed with Tom’s capabilities when we worked together at another timeshare lending institution,” says Colebrook Principal Bill Ryczek. “His aptitude for seeing the ‘big picture’ when it came to putting a financing deal together was readily apparent then and now, 14 years later, his experience enables him to handle all aspects of this business.”

Prior to joining Colebrook, Petrisko was employed by Capital One as a vice president in their vacation ownership division. “It is a delight for me to return to an environment in which I can touch the deal from start to finish,” says Petrisko. “Working with Colebrook allows me to build relationships with the developers. It’s conducive to understanding their needs and being able to put together win-win deals.”

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Timeshare lender Colebrook signs finance deal with King’s Creek Plantation (June 2013)
Colebrook Financial Company extends an existing facility to $8mm for receivables financing

Middletown, CT; June 2013 –  Colebrook Financial Company, which provides timeshare receivables financing for timeshare resort developers, announced the expansion of their lending relationship with Williamsburg, Virginia, timeshare developer – King’s Creek Plantation.

“George David of Realty Financial Resources, Inc. introduced us to the team at King’s Creek and helped facilitate the arrangement,” says Colebrook Principal William “Bill” Ryczek. “We inked our first deal together in March of last year and were happy to extend it to $8 million earlier this spring. The project has been successful in making $18 million in sales per year, has 15,000 owners and continues to grow. So, we are excited to continue working with them going forward.”

King’s Creek Plantation Executive VP/COO/CFO Joe Cantrell says, “We are extremely fortunate to work with Colebrook. Their team is very professional and easy to work with. If any issue were to emerge, they are great problem-solvers, too. We are glad to have them as our lending partners.”

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Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Timeshare Lender Education Seminar to take place June 11 in Connecticut (March 2013)
Colebrook Financial Company’s fifth annual seminar will teach banking professionals about timeshare resort receivables financing.

seminar
Middletown, CT; March 2013 – Colebrook Financial Company, which provides timeshare receivables financing for timeshare resort developers, announced they will present their fifth annual “Timeshare Lender Education Seminar” on June 11, 2013 at the Crowne Plaza Hotel in Cromwell, Connecticut.

Approximately 60-75 bankers, accountants and attorneys are expected to attend the by-invitation-only event. Howard Nusbaum (pictured left), CEO of ARDA, who has spoken at each of the four prior sessions, will inform the audience of developments in the timeshare industry during the past year. Following Howard will be the chief executives of three leading timeshare development companies, Stuart Allen of Vacation
Ownership Sales, Butch Patrick of Festiva Resorts and Kevin Jones of King’s Creek Plantation. Each will speak about a specific facet of the timeshare business.

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According to Bill Ryczek RRP* (shown right), “The previous four educational forums have provided an excellent introduction to the timeshare industry for many institutions and have been an informative update for those already doing business with Colebrook. In addition, the session is an opportunity for networking among the institutions and allows them to share experiences.”

Colebrook now has 15 banking partners, several of which have established a relationship during the past two years. The increased capacity enables Colebrook to structure larger financing packages on more competitive terms.

Ryczek, Jim Bishop, Fred Dauch and Mark Raunikar from Colebrook Financial Company will officiate at the event and will be available to answer questions afterward. Any lender, attorney or accountant who is interested in attending should contact Bill at bryczek@colebrookfinancial.com for details.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook extending loan to RWGroup in Lake Tahoe (February 2013)
Timeshare resort industry lenders, Colebrook Financial Company, recently announced they will increase their commitment from $5mm to $8mm.

rw_resort
Middletown, CT; February 2013 – Colebrook Financial Company, lenders specializing in the timeshare resort industry, report they recently expanded their relationship with the RWGroup to underwrite receivables financing for consumers purchasing club interests in four resorts located in Lake Tahoe, Nevada.

“One of the benefits of working with Colebrook is that they understand and appreciate our product,” says RWGroup CFO Bob Dunbar. “We have dealt with them since Colebrook’s inception and are very satisfied with the relationship.”

RWGroup’s partners Ron Wilhite, Lex Adams and Bob sell a non-deeded interest in a club product which provides its members with access to the Ridge Tahoe, Ridge View, Ridge Crest and Ridge Pointe properties, located in Lake Tahoe, Nevada. “My relationship with the principals of the RWGroup goes back nearly 25 years,” said Colebrook principal Bill Ryczek, “and the fact that we continue to do business together speaks to the quality of their product, their integrity and their business acumen. We look forward to many more years of working together.”

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Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Lends $6mm to Timeshare Entity (December 2012)
Timeshare resort industry lenders, Colebrook Financial Company, ink deal to underwrite receivables with Vacation Ownership Sales, Inc.

Middletown, CT; December 2012 – Colebrook Financial Company, boutique lenders in the timeshare resort industry, report they recently closed a $6 million receivables hypothecation loan with Vacation Ownership Sales, Inc. (VOS). VOS is the development and sales company affiliated with Vacation Internationale (VI), the oldest points-based vacation club in North America. VOS will use the loan proceeds in its ongoing and successful efforts to expand VI in the US, Mexico and Canada.

VOS President Stuart Allen said, “VOS is very appreciative of its financial relationship with Colebrook. This association dates back to 2005, when VOS was founded to foster growth for VI. Colebrook and its principals have aided VOS and VI immeasurably by their support of VI’s strategic plan. We look forward to more transactions like this in the future.”

“We’ve been delighted to work with Stu and his partner Mike Vasey,” says Colebrook Senior Partner Bill Ryczek. “Vacation Internationale practically invented the points-based model that is so prevalent in the timeshare industry today, and the fact that the club continues to thrive is a testament to the quality of the product and the soundness of the management. Stu and Mike are a great combination of administrative and marketing talent who complement each other well. ”

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook completes loan transaction with Manhattan Club (October 2012)
Timeshare resort industry lenders, Colebrook Financial Company, ink $5 million lending transaction with New York City timeshare developers.

Middletown, CT; October 2012 – Colebrook Financial Company, boutique lenders in the timeshare resort industry, report they have completed a $5 million receivables hypothecation loan to the Manhattan Club, which is located in the heart of New York City.

“We’ve known Colebrook’s Principal Bill Ryczek for a number of years and were delighted to find that his company could address our needs,” says Operating Partner Scott Lager. “We were very impressed by Bill’s competent handling of the due diligence process leading up to completing the transaction. It was the least-pressured of any of these processes we’ve ever experienced. Bill’s knowledge and experience was clearly evident. He had very few questions, which we were able to satisfy easily and quickly. I’ve dealt with many lenders in the past and the procedures were never so easy.”

“We are very pleased to initiate this new lending relationship with The Manhattan Club,” says Bill Ryczek. “The fact that it is one of the few urban timeshare projects in the U.S. makes it very attractive. Plus, the demand for usage is very high because of the desirable location.”

manhattan_club

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Lenders and investment groups learn about timeshare finance (June 2012)
Industry leaders speak at Colebrook Financial’s Lender Education Conference .

Middletown, CT; June 2012 – Lenders attending an educational seminar presented by timeshare receivables financiers Colebrook Financial Company heard ‘the good, the bad and the not-so-bad’ from Howard Nusbaum, RRP*, CEO of the American Resort Development Association (ARDA); Interval Leisure Group CEO Craig Nash; Michael Hug, Exec. VP and CFO of Wyndham Vacation Ownership and Bluegreen Services CEO David Pontius, last week.

Approximately 60 financial professionals at Colebrook’s “Timeshare Lender Education Seminar” learned about the new “Fee for Service Marketing” model whereby several larger, well established timeshare veteran companies are partnering with smaller resorts and leveraging their expertise to provide management, sales and marketing. Attendees heard first-hand about the state of the industry, the increase of timeshare transactions in the asset-backed securitization markets, how timeshare portfolio performance is improving at the present time and how the role of the exchange company has evolved to keep pace with the market.

Colebrook Financial professionals Bill Ryczek RRP*, Jim Bishop, Fred Dauch and Mark Raunikar were available immediately following the event to answer questions. Colebrook works in concert with a number of financial institutions to provide financing for the resort industry. A limited number of conference handouts are available on a first-come, first-served basis. Please contact Bill Ryczek at bryczek@colebrookfinancial.com to request a copy.

*Nusbaum and Ryczek are registered resort professionals with the American Resort Development Association (ARDA), Washington, DC.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook hosts lenders’ timeshare finance education event (June 2012)
Colebrook Financial Company holding seminar to introduce timeshare resort receivables financing information to banking professionals

Middletown, CT – May 2012; Colebrook Financial Company, providing timeshare receivables financing for single-site and multi-site timeshare resort developers, announced they will present their annual “Timeshare Lender Education Seminar” on June 7, 2012 at the Crowne Plaza Hotel in Cromwell, Connecticut, from 9:00 a.m.-1:00 p.m. before a group of by-invitation-only lenders and professionals. Colebrook works in concert with a number of financial institutions to provide financing for the resort industry.

Bill Ryczek RRP* (pictured), Jim Bishop, Fred Dauch and Mark Raunikar from Colebrook Financial Company will officiate at the event and be available to answer questions afterward. Craig Nash, CEO of Interval Leisure Group, Miami, FL, will discuss the role of exchange organizations in an evolving industry. Howard Nusbaum, president of the American Resort Development Association (ARDA), Washington, DC, will provide an overview on the state of the timeshare industry. Michael Hug, CFO of Wyndham Vacation Ownership, Orlando, FL, will provide the current status of timeshare receivables securitizations and will discuss portfolio performance; while Bluegreen Services, Boca Raton, FL, President David Pontius will describe the latest concept in timeshare marketing – the fee-for-service model. After their remarks, panelists will be available to answer questions in a Q and A session, as well as during the networking luncheon.

Any lender, attorney or accountant who is interested in attending should contact Bill at bryczek@colebrookfinancial.com for details.

*Ryczek is a registered resort professional with the American Resort Development Association (ARDA), Washington, DC.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Financial reports seeing increased liquidity for timeshare developers (April 2012)
Colebrook Financial Company executive Bill Ryczek tells timeshare industry conference attendees “We’re seeing funds become more available.”

April 17, 2012 – Colebrook Financial Company principal, Bill Ryczek, recently shared good news about the financial outlook for resort developers who offer their consumers end-loan financing. In Ryczek’s remarks as part of a panel presentation – “NEW Fundamentals of Finance” – at the American Resort Development Association (ARDA) convention held earlier this month, he reported seeing a rebound in the financial markets for the industry.

“Timeshare financing, like nearly every element of business, runs in cycles,” says Ryczek (pictured above). “We are now on the upward slope, with more lenders, more funding, somewhat more liberal terms and lower rates.”

Several of Colebrook Financial Company’s principals began their involvement in the resort industry as early as 1979. “Money is fungible,” says Ryczek, “and pricing is easily compared. We try to add value with a little more flexible structure and by acting as a conduit to aid networking among our developers, whether it is to swap inventory, develop strategic alliances or simply discover a better way of doing things.”

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Bill Ryczek on Fundamentals of Timeshare Finance Panel at ARDA World 2012 (March 2012)
Colebrook Financial Company executive to address timeshare industry conference April 3, 2012

Middletown, CT – March 2012; Colebrook Financial Company, providing timeshare receivables financing for single-site and multi-site timeshare resort developers, announced that Principal Bill Ryczek will participate on the panel entitled, “NEW Fundamentals of Finance,” April 3, from 9:00 to 10:15 a.m. during the ARDA World 2012 Las Vegas convention (www.ARDA.org).

“The timeshare lending environment has changed dramatically over the past year,” says Ryczek (pictured). “There have been new entrants to the market and the availability of funding has increased, but the terms and types of loans have changed from the years before the financial crisis of 2008. We will talk about those changes and our expectations for the coming year. Our first conference call among the panelists produced some very interesting observations, and I think the session will have value even to those who have many years of experience in the industry.”

Attendees at the session will learn about the types of finance available for timeshare operators and how to go about obtaining it, after which they will have an opportunity to ask questions of the panelists.

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269

 

Colebrook Financial Agrees to Purchase $30 million in Receivables from Highlands Resorts (February 2012)
Colebrook Financial Company extends purchase agreement to timeshare resort development company.

Middletown, Connecticut; February 28, 2012 – Colebrook Financial Company, providing timeshare receivables financing for single-site and multi-site timeshare resort developers, announced recently it had extended an existing facility for Highlands Resorts to $30 million.

“Highlands Resorts will be using the financing for consumers purchasing vacation ownership in their projects in Sedona, Arizona,” says Colebrook principal Bill Ryczek. “We made our first commitment to Highlands in 2009 and have been very pleased with the relationship since that time. Highlands’ management team is highly professional and the resort projects, themselves, are well-maintained, well-managed properties in high-demand locations. We enjoy working with Todd Herrick who is an energetic, decisive and competent developer.”

“Colebrook has been a terrific lending partner for us,” says Highlands Resorts Owner Todd Herrick. “As one of the few timeshare developers in the United States to be developing new product at this time, we needed a company that would be flexible enough to handle our growth. Colebrook has more than risen to the occasion. Plus, I like the fact that whenever I call their office, I get a real person on the phone – a principal – rather than voice mail. It’s just another indication that they are interested in talking to you.”

Colebrook principals take pride in the attentive, personal service they provide clients throughout the relationship. “Most of our clients have started with a small relationship that has grown over the years as we both become more comfortable with each other,” says Ryczek. “Like timeshare developers, we believe our existing customers are our best prospects and if we treat them well, they will expand the relationship.”

Media Contact for Colebrook Financial Company:
Sharon Drechsler-Scott, RRP
Sharon@SharonINK.com; 310-923-1269