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With the opening of these developments, we will have more than doubled the size of our operating resort portfolio in about three years. With the cash we recently received from the sale of two resorts to the joint venture with CNL and our strong operating cash flow, we are well-positioned to stay on track to begin at least two new projects a year, as well as selectively add condominiums and/or additional rooms and expanded facilities at existing resorts.
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We started off great, but we couldn't stay consistent. We go through droughts because we're still a young team trying to figure out how to score against tough defense. Even though we were ahead, I didn't like the flow of the game. We were trading baskets with Lehigh and you can't do that. I knew we needed to clamp down.