Anything Left Of Ginn Besides Its Lawsuits?

I assume many of you received the following communication, which I received today as a proud owner at Reunion. Apparently Lubert Adler has finally seen fit to take away the day to day running of the Reunion and Hammock Beach resorts from Ginn. This can only be seen as positive news. Reunion and Hammock are the only of the Ginn resorts which, in the hands of a capable hotel operator, actually stand a chance - in the foreseeable future - of being real first class golf communities.

As everyone knows, Ginn has already closed down its entire sales operation. Tesoro, Quail West, Ginn Sur Mer and Laurelmor are either in bankruptcy or Ginn has essentially been forced out. Reunion and Hammock Beach were the only viable communities - but not so long as they were being operated by Bobby Ginn and his cronies.

The mystery to me is why Lubert Adler ever allowed Bobby to run the resort instead of getting a flag, a known hotelier, such as a Four Seasons, Ritz, etc. Ginn is a salesman and a marketer. He seemed about as capable at running a hotel as performing brain surgery.

Dear Club Members:

In my last communication, I noted we were working diligently in restructuring costs and working to improve processes to assure the high standards of service and ongoing value of your membership in Ginn Clubs & Resorts.

Included was reference to the ongoing search for additional support and investment to realize the dream and vision of Bobby Ginn for a new standard of resort community, one that maximized the quality of lifestyle and recreation for family and friends for years to come.

While that search continues; effective April 6, day-to-day operations management for Hammock Beach Resort and Reunion Resort will be transitioned to Noble Investment Group, a leading hospitality management company based in Atlanta, Georgia, and Reynolds Signature Communities, Greensboro, Georgia.

Noble Investment Group is a leading sponsor of private equity real estate funds and an integrated operating and development organization that specializes in making value-added investments in hotels and resorts throughout North America. An award winning operator of more than 8,000 hotel and resort guest rooms, convention and conference centers with approximately 1 million sq. ft. of meeting space, as well as day and resort spas, upscale restaurants and branded retail coffee stores.

Headquartered in Lake Oconee, Georgia (between Atlanta and Augusta), Reynolds Signature Communities was formed in 1985 by Mercer Reynolds and Jamie Reynolds to develop Reynolds Plantation and the surrounding lake area. Reynolds Plantation is an award-winning golf and lake community that has grown to feature 99 holes of championship golf and 80 miles of shoreline, as well as a AAA 5-diamond Ritz-Carlton Lodge.

While Ownership of the resorts remains the same, the broad expanse of resources and experience of these operators will allow even greater flexibility and availability of value-driven operations strategies, while at the same time continuing the high quality and standards establish by Ginn Clubs & Resorts, and especially the staff and management of these fine resorts.

There are no immediate changes planned for membership structure or rental operations with this change as both parties become more familiar with the projects and of course the valued input from you our Owners and Members.

The change is to be effective early April and additional communications and meetings will be scheduled in the next several weeks in an effort to answer the many questions you may have.

We hope you will remain patient through the initial transition and know we will make every effort to communicate directly through this process.

Steve Grainger
Senior Vice President, Chief Operating Officer
Ginn Clubs & Resorts