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THIS FILING CONSISTS OF 4 PAGES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: September 12, 1996
(Date of earliest event reported)
SIGNATURE RESORTS, INC.
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<S> <C> <C>
MARYLAND COMMISSION FILE: 95-4582157
(State or other jurisdiction 000-21193 (I.R.S. Employer Identification No.)
of incorporation or
organization)
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911 WILSHIRE BOULEVARD
SUITE 2250
LOS ANGELES, CA 90071
(Address of principal executive offices, including zip code)
(213) 622-2211
(Registrant's telephone number, including area code)
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ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
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On September 12, 1996, Ernst & Young LLP advised the Registrant that
it was resigning as independent auditors for the Registrant. Ernst & Young LLP
had been retained since the Registrant's inception and there have been no
disagreements between the Registrant and Ernst & Young LLP with respect to
accounting principles or practices, financial statement disclosure, auditing
scope or procedures, which if not resolved to Ernst & Young LLP's satisfaction,
would have resulted in a reference to the subject matters of the disagreement in
its audit report. Since the Registrant's inception, Ernst & Young LLP's reports
on the Registrant's financial statements did not contain an adverse opinion or a
disclaimer of opinion, nor were the opinions qualified or modified as to
uncertainty, audit scope, or accounting principles, nor were there any events of
the type requiring disclosure under Item 304 (a)(1)(v) of Regulation S-K.
On September 17, 1996, the Registrant retained the accounting firm of
Arthur Andersen LLP as auditors for the fiscal year ending December 31, 1996
following Board approval, which was obtained on September 16, 1996. The decision
to retain Arthur Andersen LLP was based upon the prior relationship with a
predecessor of the Registrant as auditors for the fiscal year ending December
31, 1994 and Arthur Anderson LLP's experience in the Registrant's industry, and
was not motivated by any disagreements between the Registrant and Ernst & Young
LLP concerning any accounting principles and/or policy matters. Since the
Registrant's inception, the Registrant has not consulted with Arthur Andersen
LLP with respect to the matters described in Item 304 (a) (2) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibit
16.1 Letter, dated September 18, 1996 from Ernst & Young LLP former
independent auditors.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
SIGNATURE RESORTS, INC.
(Registrant)
Date: September 18, 1996 By: /s/ Steven C. Kenninger
________________________________
Steven C. Kenninger
Chief Operating Officer
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EXHIBIT 16.1
[ERNST & YOUNG LLP LETTERHEAD]
September 18, 1996
Securities and Exchange Commission
450 Fifth Street, N. W.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of Form 8-K dated September 12, 1996, of Signature Resorts,
Inc. and are in agreement with the statements contained in the first paragraph
of Item 4 therein. We have no basis to agree or disagree with other statements
of the registrant contained therein.
Ernst & Young LLP
