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Oceania Family Of Resorts Creates New Niche

OCEANIA FAMILY OF RESORTS CREATES NEW NICHE IN VACATION OWNERSHIP IN MYRTLE BEACH

Multiple Oceanfront Resorts Expand Owners' Vacation Options

May 14, 2007, Myrtle Beach, S.C. - Building upon the acquisition of The Hoffman Group in 2006, Casey Shroff has expanded his emphasis on oceanfront properties in Myrtle Beach by creating Oceania Family of Resorts, a new company that will offer consumers an unprecedented array of choices in oceanfront vacation ownership.

Michael D. Cousins, former Executive Vice President Of Interval Ownership For Burroughs & Chapin Company, Inc., has been selected to head the Oceania Family of Resorts. Cousins has more than 25 years of experience in timeshare, including key management positions at Bluegreen Corporation and The Rank Organization, Ltd. While a member of the Burroughs & Chapin executive management team, he engineered their entry into the timeshare market and led a staff that designed, marketed and sold two highly successful timeshare developments - South Beach Resort in Myrtle Beach, S.C. and Crown Park Resort in Gatlinburg, Tenn.

"The Oceania Family of Resorts presently offers more oceanfront choices along the Grand Strand for our timeshare buyers than anyone else in the Myrtle Beach area," says Cousins.
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"Even more exciting," says Cousins, "we are establishing a new configuration of possibilities that gives buyers an unparalleled choice in ownership and amenities. With our close relationship to the Hoffman Group, we'll be able to include mixed-use options for our buyers. Our vision will allow families to choose between whole ownership, fractional ownership and timeshare ownership within the same oceanfront property. When you add to this our affiliations with traditional timeshare benefits that provide RCI and I.C.E. vacation exchange privileges and cruise options, we will be providing maximum flexibility for our customers."

Casey Shroff and family members have been developing and selling oceanfront property in Myrtle Beach for more than 20 years. The decision to offer timeshare was driven by industry trends showing that consumers are seeking more choices in vacation ownership.

"Vacation ownership is evolving and consumers want more choices," said Stephen Edelman, COO of The Hoffman Group. "This consumer demand is driving development companies to be more creative in what they can bring to the market. According to industry research, timeshare is the fastest growing segment of vacation ownership. That's partly because it's a very affordable way to enter the vacation ownership market, but also because consumers like the flexibility and amenities that come with timeshare. Fractional ownership is appealing to baby boomers because they like the value and amenities as well as the convenience of being able to return to one vacation spot again and again, - but they don't want the hassles of owning a second home. And, additionally, there will always be a market for those who want to own a place on the ocean - but they too are looking for something more in the way of amenities."

Some of the largest companies in the resort industry have integrated ownership and timeshare, according to Hotel & Motel Management magazine. According to a recent report in the magazine, "a dash of timeshare is the secret ingredient in mixed-use resort development" because it "makes sense on a lot of fronts." In addition to enabling resort operators to share operational efficiencies, the mixed-use approach to vacation ownership responds to a growing consumer demand for more vacation ownership options along the oceanfront.

About Oceania Family Of Resorts

The Oceania Family of Resorts currently includes oceanfront properties Sandcastle South (Myrtle Beach), Avista Resort (North Myrtle Beach), and Grande Shores Ocean Resort (Myrtle Beach), as well as Apogee Towers (Myrtle Beach) and Towers On The Grove (North Myrtle Beach), which are in various stages of development.

About The Hoffman Group

Since its inception in 1984, The Hoffman Group has been the premier oceanfront condominium sales and marketing company in the Myrtle Beach area. With more than 40 sales associates, the company has annual sales in the $400 million range consisting of both pre-sales of new oceanfront developments and resales of existing condos. In April 2006, Casey Shroff acquired the company from founder David Hoffman.