Item 8.01 Other Event.

On October 22, 2009, the Company issued a press release announcing that Ultimate Escapes Holdings, LLC, signed a definitive purchase agreement to acquire three new Elite ClubSM residences at See Forever Village at the Peaks in Telluride, Colorado. The press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description
99.1 Press Release, dated October 22, 2009.

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