A sale of the Lake Texoma Lodge and accompanying golf courses was put on hold earlier this year after an out-of-state company that was selected didn't follow through with its payment.

We're hopeful the second sale of the Lake Texoma Lodge to investors is more successful. The principals are Oklahomans involved in the oil industry.

The Commissioners of the State Land Office last week chose Pointe Vista Development to build a new resort on Lake Texoma. The old lodge, in Kingston, will be demolished in the spring, according to a report on the bid opening by the Associated Press.

Pointe Vista agreed to pay $14.6 million for the lodge and surrounding property which includes one old and one new golf course. The owners plan to spend about $350 million for condominiums, cabins, a water park and a family motel.

Principals of the investment group are Aubrey McClendon, chairman and CEO of Chesapeake Energy Corp., and Mark A. Fisher, founder, president and chief executive officer at Chaparral Energy. Both of the companies are based in Oklahoma City.

The Lake Texoma lodge sits on a beautiful piece of property that has enormous potential. It served a useful purpose for many years but has fallen into disrepair and is not marketable to vacationers.

Today's travelers want lodging amenities that were not available at the Kingston lodge. State lodges have lost more than $4 million over the last 10 years. Lawmakers have authorized millions of dollars in subsidies just to keep the doors open in the past few years.

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