# DRI buying ILX assets



## CJ711 (Feb 7, 2010)

I did a search in TUG but didn't find anything about DRI's proposed buyout of ILX Resorts' assets from bankruptcy court. If I missed it and this has already been covered, my apologies, but I think there might be some interesting possibilities involved. Like, which resorts would DRI be likely to keep and which might they try to unload? How would they fold the ILX properties into THE CLUB? What would happen with MFs and SAs (I hear that some ILX properties need some upgrading). I found a bit on this at a blog about Puerto Penasco, MX, too that you might find interesting, it's mostly concerning the Puerto Penasco project that ILX was just starting to market when the big crash hit. That URL is ILX Resorts, With Planned Resort in Puerto Penasco, May Have New Buyer

Anyway, if anyone hadn't heard about this buyout, here's the basics (sources tell me it's a done deal and will be finalized around May, but that's one of those "some people say" things, not confirmed):



> *Diamond Resorts Offers Buyout of ILX Assets*
> Published: January 21, 2010
> 
> Las Vegas, NV, and Phoenix, AZ, January 21, 2010 — On Thursday January 7, 2010 ILX Resorts Inc. stipulated to terms in the U.S. Bankruptcy Court, subject to a contingency period which expired at the close of business on January 12, 2010, which provide that it will file a joint plan of reorganization with its largest creditor, Textron Financial Corporation. ILX owes Textron $29 million in loans.
> ...


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## marg2 (Mar 12, 2011)

Hi, there's a discussion on another thread. Search for Premiere Vacation Club or follow this link:  http://www.tugbbs.com/forums/showthread.php?t=124992&highlight=premiere+vacation+club


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