Sunterra buys Epic Resorts

LAS VEGAS -- Sunterra Corp. acquired the assets of Epic Resorts, including the management rights to and the unsold inventory of the 152-unit Desert Paradise Resort here, with an all-cash bid of $25 million.

The deal was closed after final confirmation by the U.S. Bankruptcy Court for the District of Delaware.

One of the world's largest vacation ownership companies, Sunterra plans to brand the vacation ownership resort, which offers one- and two-bedroom suites, as a Sunterra resort and transition customer services, reservations and billing and collection functions to Sunterra's corporate office here, according to company officials.

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