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10-03-2009, 09:05 PM
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Horny Toad/Pecker's to be turned over to management company
Financial difficulty has taken its toll on one of the lake’s most well-known entertainment venues.
In a statement released late Thursday afternoon, Merlyn Vandervort, the developer/owner of the Horny Toad entertainment complex and Pecker’s restaurant, announced that operations of the entities will be turned over to a management company.
The transition is expected to take place immediately.
Vandervort said the recession placed a hardship on his operations. That was further complicated by the lending crisis, according to the statement.
At some point, Vandervort said it is his intent to put together an investment group to buy back the properties.
Vandervort has been in business for 11 years, building the Toad Cove complex with two restaurants, gas dock/100-slip marina, spa, salon, the Diamonds of Toad Cove, Tropical Sensations, Jeremiah’s Nightclub and The Resorts Residences, a 116-suite hotel.
By land the Horny Toad is located off Bittersweet Road. By water it is at the 7-mile marker in 7-mile cove. Pecker’s is located on Bagnell Dam Boulevard.
Vandervort’s statement said the Lake of the Ozarks certainly hasn’t been sheltered from the global economic conditions.
He also said in his statement that he believes it would be hard-pressed to find any business here at the lake that can honestly report they had a good year; his businesses among them.
Having just completed the first luxury hotel to be built here at the Lake of the Ozarks in over a quarter century, Vandervort said the timing couldn’t have been worse.
The project was completed the third quarter of last year, amidst the beginning of the recession and going into the off season. The recession went from bad to worse, and there still doesn’t appear to be any end in sight, the statement said.
Employees were notified of the change this week. Vandervort said he intends to stay in the lake area and concentrate on his development and construction company.
The management company in conjunction with the bank(s) will oversee the operations of the entities.
Just last weekend, the complex hosted the Offshore Super Series that drew national boat racing coverage.
Vandervort entities
• Horny Toad entertainment complex, including two restaurants, gas dock/100-slip marina, spa, salon, Tropical Sensations, Jeremiah’s Nightclub and The Resorts Residences, a 116-suite hotel
Financial difficulty has taken its toll on one of the lake’s most well-known entertainment venues.
In a statement released late Thursday afternoon, Merlyn Vandervort, the developer/owner of the Horny Toad entertainment complex and Pecker’s restaurant, announced that operations of the entities will be turned over to a management company.
The transition is expected to take place immediately.
Vandervort said the recession placed a hardship on his operations. That was further complicated by the lending crisis, according to the statement.
At some point, Vandervort said it is his intent to put together an investment group to buy back the properties.
Vandervort has been in business for 11 years, building the Toad Cove complex with two restaurants, gas dock/100-slip marina, spa, salon, the Diamonds of Toad Cove, Tropical Sensations, Jeremiah’s Nightclub and The Resorts Residences, a 116-suite hotel.
By land the Horny Toad is located off Bittersweet Road. By water it is at the 7-mile marker in 7-mile cove. Pecker’s is located on Bagnell Dam Boulevard.
Vandervort’s statement said the Lake of the Ozarks certainly hasn’t been sheltered from the global economic conditions.
He also said in his statement that he believes it would be hard-pressed to find any business here at the lake that can honestly report they had a good year; his businesses among them.
Having just completed the first luxury hotel to be built here at the Lake of the Ozarks in over a quarter century, Vandervort said the timing couldn’t have been worse.
The project was completed the third quarter of last year, amidst the beginning of the recession and going into the off season. The recession went from bad to worse, and there still doesn’t appear to be any end in sight, the statement said.
Employees were notified of the change this week. Vandervort said he intends to stay in the lake area and concentrate on his development and construction company.
The management company in conjunction with the bank(s) will oversee the operations of the entities.
Just last weekend, the complex hosted the Offshore Super Series that drew national boat racing coverage.
Vandervort entities
• Horny Toad entertainment complex, including two restaurants, gas dock/100-slip marina, spa, salon, Tropical Sensations, Jeremiah’s Nightclub and The Resorts Residences, a 116-suite hotel
