TZP Capital Partners I, L.P. Completes Investment in BQ Resorts, LLC
and Simultaneously Completes Two Add-on Acquisitions
We are pleased to announce that TZP Capital Partners I, L.P. (“TZP”), a private equity fund based in New York, has completed its investment in BQ Resorts, LLC (“BQ Resorts” or the “Company”), an independent, asset-light timeshare and hospitality company primarily focused on acquiring vacation ownership inventory, selling the inventory through its sales operations, and providing the end purchaser financing and resort
property management services.
Founded in 2002 and headquartered in Las Vegas, NV, BQ Resorts (DBA Starpoint Resort Group) markets, sells and finances GeoHoliday Club memberships and is the founding developer of GeoHoliday Club Inc. (a real estate backed, multi-location timeshare membership club). Simultaneously, the Company closed on two acquisitions, including: a) a management company that has the rights to provide fee-for-service hospitality and resort management services to timeshare resort homeowner associations and the internal hospitality and resort management services associated with the fifteen GeoHoliday Club resorts and its international membership; and b) two additional timeshare clubs based in Canada and the Bahamas, reflecting over 13,000 members and nine additional resort sites. Post-closing, BQ Resorts will become a fully integrated hospitality company providing fee-for-service resort management to third parties and will manage a timeshare club that owns inventory at twenty four resorts in the U.S. and internationally, has approximately 30,000 timeshare club members, and has a timeshare
management company business.
“We are excited to bring TZP on as our partner,” said BQ Resort’s Founder and Chief Executive Officer, Michael J. Muldoon. “This strategic
partnership provides us with access to capital and resources to support Starpoint’s next phase of growth, pursue acquisition opportunities, and,
in particular, maintain our commitment to the vital needs of the homeowners associations to sustain long-term viability for their owners.”
Samuel L. Katz, the Managing Partner of TZP, commented “I have been associated with great timeshare companies like RCI and Wyndham for
20 years and have yet to see a model as appropriate for the industry as that of Starpoint. My colleagues and I at TZP have looked exhaustively
at numerous investments in the travel space over the past five years and are enthusiastic that we have found exceptional partners like Michael
Muldoon and his team with whom to make our first fund investment in the hospitality industry.”
Financial terms of the private transaction and the size of the investment were not disclosed. The transaction team at TZP included Samuel L. Katz, Nathan Chandrasekaran, Andrew Hollod and Ryan Dunn. As part of the investment, Sam and Nate will join BQ Resorts’ Board of
Directors.
About BQ Resorts, LLC
BQ Resorts, LLC, based in Las Vegas, NV, is an independent, asset-light timeshare and hospitality company primarily focused on acquiring vacation ownership inventory, selling the inventory through its sales operations, and providing the end purchaser financing and resort property management services. The Company’s executive management team averages more than thirty years of proven performance and experience.
The Company is active in all facets of the resort development and finance business, including the marketing, sales and financing of new and existing timeshare memberships in the US, Canada, Caribbean and Central America.
About TZP Group Founded in 2007, TZP Group LLC is a private equity firm focused on control investments in business and consumer services companies with enterprise values up to $200 million. TZP targets companies with solid historical profitability and sustainable value propositions, and seeks to be a “partner of choice” for business owners and management teams. TZP is focused on business and consumer services verticals where the firm’s investment professionals have significant operating and transaction experience. These include: hospitality services, travel content and
distribution, franchising, outsourced business and IT services, marketing and media services, and specialty finance.
TZP’s current and historical portfolio companies include avVenta Worldwide, DLT Solutions, The Dwyer Group, Media Storm, and Total
Military Management.
