Tag: Acquire

Camping World Announces Entry Into North Dakota with Agreement to Acquire Outlet Recreation

Camping World Holdings, Inc. (NYSE: CWH) (“Camping World”), the nation’s largest network of RV and outdoor lifestyle – centric retail locations, today announced an agreement to acquire the Outlet Recreation dealership based in the Fargo market. This acquisition marks the Company’s first location in North Dakota, with plans for the deal to close in December 2020.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201116005291/en/

Camping World RV SuperCenter (Photo: Business Wire)

“We are well-positioned to remain a leader in the RV industry as it continues to evolve,” said Marcus Lemonis, Chairman of Camping World. “The addition of Outlet Recreation in Fargo will allow us to expand our footprint into the state of North Dakota while continuing to deliver a high standard of customer service and integrity in the industry.”

Located in West Fargo, ND off I-94, Outlet Recreation offers a wide range of new and used travel trailers, fifth wheels and motorhomes from top manufacturers and brands. This acquisition is in line with the Company’s future growth plans.

“I’m proud of the network that Camping World has built over the last few years, and we are not even close to reaching our potential,” continued Lemonis. “As we enter our 38th state, we are laser focused on being in all 48 continental states by the end of 2021, which will help us execute our goal of selling RVs seamlessly online, to complement our physical retail locations.”

Camping World currently owns and operates over 160 SuperCenters nationwide, specializing in RV sales and service, RV parts and accessories, outdoor lifestyle products and its entire portfolio of Good Sam products and services. From new strategic acquisitions, new store development and facility upgrades, the Company’s network will continue to expand and evolve while serving its customers’ outdoor, RV and camping needs.

Camping World is always looking for seasoned and professional RV sales associates, technicians, and retail support to assist with locations across the country. Individuals interested in applying for a position with Camping World may visit http://www.campingworldcareers.com/.

About Camping World Holdings, Inc.

Camping World Holdings, headquartered in Lincolnshire, Illinois, is America’s leading recreational vehicle and outdoor retailer, offering an extensive assortment of recreational vehicles for sale, RV and camping gear, RV maintenance and repair, other outdoor and active sports products, and the industry’s broadest and deepest range of services, protection plans, products and resources. Since the Company’s founding in 1966, Camping World has grown to become one of the most well-known destinations for everything RV, with more than 160 locations in 37 states and a comprehensive e-commerce platform. For more information, visit www.CampingWorld.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Camping World and other matters. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding our future results of operations and financial position, our capital return strategy, and expected dividend payments are forward-looking

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Eagle Four Partners and Lyon Living Acquire the Newport Beach Marriott Hotel & Spa

“As local owners and operators, we are thrilled to be acquiring the Newport Beach Marriott Hotel & Spa and adding it to our portfolio of iconic hospitality and lifestyle residential assets. Being an integral part of the community fabric of Newport Beach, we are dedicated to a transformative renovation in 2021 bringing the hotel to a new level of guest experience and service befitting its location in the heart of Newport Beach,” said Kory Kramer, partner at Eagle Four Partners.

“The hotel will complete a comprehensive renovation of both public space and guestrooms including exterior enhancements. The result adds incredible value not only to the hotel but is accretive to the Newport Center neighborhood and the many businesses in and around Fashion Island,” said Peter D. Zak, president and partner of Lyon Living Development Company.

Marriott International will continue as the hotel operator led by veteran general manager Debbie Snavely. “I’m excited to have new owners based here in Newport Beach who have a strong dedication to the local community and a plan to elevate our hotel through a major repositioning. We will successfully attract higher-rated leisure and business and group events within the local coastal luxury market. This is great news for Newport Beach.”

Newport Beach is our home. We are proud owners of the Balboa Bay Resort & Club and Newport Beach Country Club. Partnering with Newport Beach-based Lyon Living, we believe our group will transform the Newport Beach Marriott Hotel & Spa into a preeminent community asset for future generations,” said Kevin Martin, partner at Eagle Four Partners.

Bob Webster and Michael DiPrima of CBRE Hotels advised both the seller, Host Hotels and the buyer on the transaction. Pillsbury Winthrop represented as buyer’s counsel and Latham & Watkins represented as seller’s counsel.

About Eagle Four Partners, LLC
Eagle Four Partners is a Newport Beach, CA-based private equity group specializing in strategic real estate investments in hospitality, golf, and lifestyle residential. Founded in 1996, Eagle Four has participated as the lead equity investor in more than $2 billion of real estate transactions including most notably the acquisition of the Sheraton Denver Downtown Hotel and the purchase, repositioning, and disposition of Bacara Resort in Santa Barbara. Eagle Four’s current asset portfolio consists of Reno’s largest mixed-use project Reno Experience District (RED) and independent resorts such as Balboa Bay Resort in Newport Beach, Paséa Hotel & Spa in Huntington Beach, Estancia La Jolla, Meritage Resort & Spa in Napa, and Ko’a Kea Resort in Kauai as well as other branded hotels in California and Arizona. Eagle Four owns and operates the Newport Beach Country Club and recently developed the new clubhouse located at Newport Center. Eagle Four’s expertise includes building strategic partnerships, aggressive asset management, and creative deal structuring all with the goal of generating substantial investor value.   www.eaglefourpartners.com

About Lyon Living
Founded in 1989 by Frank T. Suryan Jr., Lyon Living is a

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