Grand Resort Properties
Documents

After owning timeshares and second homes, Brad Brown wished to create something for flexible for his own travel patterns and Grand Resort Properties was formed.

The young destination club would bring a midwestern approach to their design, combining a collection of drivable vacation destinations for their core group of members and more traditional destination club locales like Cabo.

Based out of Omaha, Nebraska, Grand Resort Properties would quietly grow to roughly 50 members towards the end of 2008, a combination of equity investors and members paying non-refundable membership deposits to join the club.

Just as the club began looking for new investors and members late in 2008, interest in the destination club industry and model dropped drastically. Clubs across the sector would cease operations and file for bankruptcy and even the industry's leading clubs would restructure their operations to respond to the economic climate.

Unfortunately, while able to outlast many of their competitors, Grand Resort Properties would file for Chapter 11 bankruptcy early in 2010, citing between $1 million and $10 million in both assets and liabilities.

During their bankruptcy, Grand Resort Properties would work towards developing a new, more stable operational model as well as evaluating options to merge or be acquired by other destination clubs.

Below you will find a copy of the club's voluntary Chapter 11 bankruptcy petition.

Grand Resort Properties Chapter 11 Bankruptcy Petition
January 19, 2010

If you would like to learn more about Grand Resort Properties, please feel free to access the club's quick links found to the right for additional information.