O'Leary will oversee management activity at the 2,300-acre Reunion Resort & Club of Orlando, under development in Davenport, FL, and the 1,000-acre Hammock Beach condominium community in Palm Coast, FL. O'Leary plans to have a fulltime staff of 400 professionals by yearend and grow the new division to 1,200 employees by 2006.

The corporate growth plans for the privately held company are the most ambitious announced in metro Orlando in the past three years. "Hospitality is a key growth area for our company," Ginn says. "We are determined to provide the finest guest experience as our resorts grow."

Reunion Resort is expected to open by yearend. Ginn claims it is the top-selling new community in Central Florida with 2002 sales of $28.8 million. The sales comprised 211 lots for $24.1 million or an average $114,218 per lot, and 17 townhomes for $4.7 million or an average $276,471 per residence. The resort will have an estimated build-out value of $2 billion, Ginn says.

Since opening sales at Reunion Resort 14 months ago, the community has generated $52 million in total property sales. That total comprises 438 lots for $40 million or an average $91,324 per lot; 40 townhomes for $11 million or an average $275,000 per unit; and eight resales.

At Hammock Beach, Ginn closed 2002 with $97 million in total sales. The volume comprised 214 lots for $55.1 million or an average $257,477 per lot and 85 condos for $30.4 million or an average $357,647 per unit. The Celebration, FL-based company also logged $11.4 million in lot and condo resales. Since opening in June 1999, the 12-story Hammock Beach and nearby Yacht Harbor Village, also a Ginn venture, have posted $315 million in aggregate sales.