Hotel Online Special Report
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Jim E. Peters Appointed as  New President/CEO 
of Two Florida Timeshare Firms 
Effective January 1, 1999
 
NEW SMYRNA BEACH, Fla - Dec. 28, 1998--Jim E. Peters, RRP, a 20-year timeshare industry veteran and current president/CEO of Silver Lake Resort Ltd. (SLR), one of the Orlando area's premier timeshare developer/operators, has been named president and CEO of New Smyrna
Beach-based Kosmas Group International (KGI). 

The appointment is effective January 1, 1999, according to Steven Kosmas, KGI's current chief executive, who will step up to KGI chairman. Peters will continue to serve as Silver Lake's chief executive, and will divide his time between KGI and SLR headquarters in New Smyrna Beach and Kissimmee, respectively. 

``Jim and I have known each other for 15 years, both personally and professionally,'' says Kosmas. ``We share fundamental business philosophies and also share a vision for how we can expand timeshare growth into the next millennium. KGI has the infrastructure; Jim's administrative and fiscal-management expertise will enhance our position within the timeshare industry.'' 

Peters says the appointment gives him the opportunity to implement multi-site business synergies, which should result in cost efficiencies and improve bottom-line results for both companies. 

A. Jay Stanton Jr., one of SLR's general partners, says he is confident Peters can handle the dual-CEO responsibilities. ``Jim is one of the most focused individuals I have ever met. He has an incredible knack to assess situations quickly and respond appropriately,'' Stanton explains. ``I fully expect that both companies will benefit from Jim's leadership style, which combines innovation with bottom-line reality. That mix will lead these two groups down the path to unprecedented success.'' 

About Kosmas Group International 

Steven Kosmas started the business in 1975 with the company's first timeshare venture in Ocean City, Md. The KGI resort collection now includes developments in the U.S. Virgin Islands, St. Maarten, Florida, Louisiana and Maryland. The developer/operator currently serves more than 36,000 owner families from around the globe. In addition to its timeshare development and management entity, the KGI group of companies includes Cape Canaveral Cruise Line, Inc., a premier provider of affordable vacation cruises, and Cape Canaveral Cruise Line Tour & Travel, a leader in supplying qualified tour prospects to timeshare resorts. Kosmas, who founded and runs KGI with his brothers, Nick and Paul, has served as president and CEO since its inception. He has been involved in the timeshare industry for 24 years. 

About Silver Lake Resort Ltd. 

Silver Lake Resort Ltd. was founded in 1991. The company's flagship development, Silver Lake Resort, is located on 100+ acres in Kissimmee, Fla., and features 162 one-, two- and three-bedroom luxury condominiums and deluxe recreational amenities. The resort has been the recipient of RCI's prestigious Gold Crown award for seven consecutive years and currently serves nearly 8,000 owner families worldwide. Peters, who joined SLR as president and CEO in 1993, serves on the American Resort Development Association (ARDA) Board of Directors and as chairman of the ARDA Finance Committee. 

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Contact:
Anne Crawford Associates
Anne Crawford, 
317/554-2400
or [email protected]
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