ILX Resorts ends strategic review process

By Lisa Kerner

Charlotte, N.C., Dec. 13 - ILX Resorts, Inc. is discontinuing its efforts to assess strategic alternatives and ending its engagement of Silver Portal Capital, LLC, which was assisting in the process.

"With the guidance and expertise of financial and legal advisors, the company has elicited and explored the potential opportunities presented and determined that none were worth pursuing at this time," chairman and chief executive officer Joe Martori said in a company news release.

"We look forward to having our management's full time and attention focused on the continuation of our business plan and moving the company forward."

On Aug. 2, ILX Resorts announced it would consider strategic alternatives after it received two unsolicited expressions of interest from third parties.

Phoenix-based ILX Resorts acquires, develops and operates timeshare resorts primarily in the western United States.

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