Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SHAWNEE ON THE DELAWARE, PA-Orlando-based Fairfield Resorts Inc. acquires Shawnee Development Inc., a timeshare resort in the Pocono Mountains. Fairfield acquired approximately 28,000 existing timeshare-owners, 600 timeshare condo units under active management contracts, 14 units of available timeshare inventory, fully entitled land for 41 timeshare units, and approximately 200 acres adjacent to the Shawnee Mountain ski area that are tentatively entitled for future timeshare development. In all, the resort encompasses approximately 1,000 acres, according to the Fairfield spokesman.

Both a member of the former ownership and a Fairfield spokesman declined to disclose the price tag, and the terms are not provided in current SEC filings by Fairfield’s parent, Cendant Corp. Commenting on the acquisition in a statement, Franz S. Hanning, Fairfield’s president and CEO, says the deal gives Fairfield an “immediate presence in a highly desirable and growing resort destination in the Poconos. We’ve been eager to add a resort in this region for some time.”

Bob Shebelsky, former chairman, CEO and one of the six sellers of Shawnee, tells GlobeSt.com, “We’ve been selling fixed-unit, fixed-week timeshare ownership for over 30 years. That’s how it evolved. But Fairfield was getting away from that with its FairShare Plus, point-based system, which gives owners much more flexibility, and Fairfield also has a large network of resorts to offer owners.” Fairfield initiated the FairShare Plus system in 1991, which gives timeshare owners the opportunity to stay at resorts throughout its nationwide network. The network now contains more than 70 resorts.

“We thought about starting a point system of our own,” Shebelsky says, “and we have a couple of other small properties in Florida and South Carolina, but it just wasn’t feasible for us.” He said under the agreement with Fairfield, “we will stay on, not as employees, but in some capacity.” The Fairfield spokesman tells GlobeSt.com that Fairfield took over management of the property at the close of the sale on Aug. 12.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.