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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 (Date of earliest event reported) January 26, 1996
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Resort Income Investors, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-10084 36-3593298
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(State of or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
150 South Wacker Drive, Suite 2900, Chicago, Illinois 60606
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (312) 683-3323
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
Capitalized terms not otherwise defined herein shall have the same
meaning as in the prospectus of Resort Income Investors, Inc. (the "Company")
dated October 24, 1988 (the "Prospectus").
Mr. John R. Young, Chairman of the Board of Directors of Resort Income
Investors, Inc. announced the expansion of the Board of Directors to three
members and the election of Thomas A. Ellsworth as an Independent Director and
a member of the Corporation's audit committee, as of January 26, 1996. The
other directors of the Corporation are Mr. Young and Daniel D. Lane.
Mr. Ellsworth is a principal of PKF Investments, a hotel real estate
consulting and brokerage company which is a subsidiary of PKF Consulting, an
international hotel consulting firm. Prior to joining PKF Investments in 1992,
Mr. Ellsworth was a senior vice president and director of real estate of ITT
Sheraton Corporation. Mr. Young stated that he and Mr. Lane were pleased to
have Mr. Ellsworth join the Company's Board and that Mr. Ellsworth, with over
25 years of experience in real estate, will be beneficial to the Company in its
monitoring of the activities of its borrowers as part of the Company's orderly
self-liquidation.
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SIGNATURES
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, thereunto duly authorized.
RESORT INCOME INVESTORS, INC.
(Registrant)
DATE: January 26, 1996 By: /s/ John R. Young
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Name: John R. Young
Title: Chairman of the Board of Directors,
Chief Executive Officer, President and
Chief Financial Officer
