NY Land Company

History
NY Land Company or " New York Land Company " .NY land Was founded in 1955 by a new jersey business man. The company developed, Apartments and gated Communities .NY land did

well so in 1966 they went public, Then In 1970 the company had accumulated enough wealth to expand there business. the CEO at time " David Davis " and the share holders where at odds, the Shareholders wanted to diversify the company into hotels resorts and theme parks due to the growth in the industry pressured Davis to stepdown as CEO. The new CEO Ronald Tegan started his plan to diversify the company so they acquired the hotel chain the western square in 1973 for 11,641,000 Usd. Western Square did unexpectedly well so to follow up this NY Land Company acquired Hotel chain, Paragon Hotels in 1975. The company had tripled in size as well as diversify from just residential to Hotels and resorts now. By 1982 the company had expanded there 2 hotel chains from Having ~ 100 Hotels now to 345 Hotels .Most of these hotels where Economy hotels they wanted to get into the big business and become a respected hotel chain like Marriott or Hilton. Instead of accruing a hotel chain like they did in with Western Square or Paragon. They looked to build one from the ground up they hired Seasoned hotel executive. Jackson Smith to construct this hotel chain. After a investors conference the decided on the name Rosewood Hotels, Everything was rolling for another success. They planned 12 Hotel locations to start with and planned to add 5 each year until 1986 the hotel chained if everything went right would have 27 hotels by 1990. The hotel chain went well and was another win for NY land. The Company was worth 5 Billion dollars at this time CEO Roland Tegan retired and Mason Williams was the new CEO Williams first Project as CEO was his infamous Las Vegas project also know as " Rosewood Las Vegas resort ". The resort didn't do very well 1.5 Billion dollars where misused on it and was the first of Williams bad decision. The next one of his plunders was to buy California Based Agricultural company " Cal Farms . By 1995 Williams was forced out of the company . The New Ceo Jacob Watts would start planning to fix Williams plunders and expand the company . First Williams did what make's the company money and invested 2 Billion dollar into there Hotel sector . Rosewood hotels would have doubled its amount of hotels from 27 to 54 Hotels by 2001 and Western Square and Paragon would have also grown a lot . NY land was preparing there next project they where planning to make there new resort . The Nova resort would be built on Athol island off Nassau . In late 1999 NY land made a deal with the Bahamas on the environmental effects of there projects and where in talks with a Bahamas company to buy the island . The Tragedy of 9/11 Struck before they could finish the purchase . The Company was heavily in debt when the recession hit due to the Las Vegas Project and the Acquiring and Cal farms. Something had to be sold off to save the company from bankruptcy. So they sold 20,000 of there apartment units. With there hotel business struggling the company would focus on there residential and development business for the next 5 years until they could start making money from there resorts again. by 2003 there resorts where making money it was faster than expected the company wouldn't expand for another few years as they where trying to pay off some of there debt. The Company had stagnated since 2001 in 2006 they restarted talks to buy Athol island in late 2007 they reached a deal and bough Athol island for 23 Million dollars soon after they started planning by 2008 ground had broken on this project and 34 Million dollars had been invested into it and in late 2008 the great recession hit. Yet again the hotel business was struggling and the Nova Resort was put on hold until 2010. Ceo Jacob watts did major cuts inside the company to avoid another almost bankruptcy and Cut hotel cost to avoid looses to a rate where it could still be profitable. The company did ok with them barely staying out of the red in 2009 - 2010. Watts Effectively saved the company. But with most of there sectors struggling the company will still have to take on some type of debt.

Hotels/Resorts Owned by NY Land

 * Western Square
 * Paragon
 * Rosewood Resorts

Resorts

 * Rosewood Las Vegas
 * Nova Resort



NY Land Agricultural Sector

 * Main Article - NY land Agricultural

NY Land Residential / Development Sector

 * Main Article - NY Land Residential / Development Sector