Cimarron is a 270-acre private resort featuring two championship golf courses. A total of 242 two-bedroom luxury vacation villas with attached garages will be developed adjacent to the courses. Under the agreement, Cimarron Golf Resort will be added to Raintree�s six other premier resorts.

Cimarron�s Chief Executive Officer, Joel Lazar, RRP, has been named Vice President of Raintree Resorts and will continue to serve as project director for Cimarron. He has led Cimarron�s pre-development operations for the last two years.

�The addition of Cimarron with its golf benefits to Raintree�s existing ski and beach properties is an ideal fit,� said Bruce MacIntire, Senior Vice President of Operations for Raintree. �This acquisition is in step with our goal of becoming a leader in the luxury segment of the vacation ownership market in North America.�
 

All of Cimarron�s golf operations are managed by OB Sports, a premier developer and operator of 14 golf courses located across the western United States. �OB Sports is very excited to be affiliated with Raintree Resorts,� says Orrin Vincent, President of OB Sports. �We are impressed with their people and their high-end projects and are confident that our two world-class golf courses will enhance the resort experience for all guests visiting Cimarron.� Raintree�s other resorts include four popular exchange destination resorts in

Cimarrón Golf Resort Palm Springs, California

According to Lazar, �Limited sales and marketing for Cimarron began in February with marketing activity, in earnest, to begin this June. The first phase of development, consisting of 40 units, is currently under construction with occupancy expected for July 2000. Both golf courses are completed and inuse. A total of 242 units will be developed over the next five years during eight construction phases.� 

Lazar has over 14 years of vacation ownership experience and currently serves as chairman of ARDA�s Membership Development Committee. He authors a monthly column titled �For Peak Performance Only,� published in the Resort Trades Magazine. 

The primary exchange vehicle for Cimarron will be accessed internally through Raintree�s Vacation Club. Cimarron is also affiliated with RCI and will be exchanged as an RCI Gold Crown Resort.  

Raintree has approximately 24,000 members, including 18,000 Club Regina members and 6,000 Whiski Jack members. The company completed over $80 million in total revenues for 1999, including almost $13 million at The Teton Club in Jackson Hole, Wyoming.