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Sticky - Bankrupt / Closed resorts

Discussion in 'Buying, Selling, Renting' started by TUGBrian, Feb 21, 2015.

  1. vacationhopeful

    vacationhopeful TUG Member

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    Location:
    Northeast USA
    Resorts Owned:
    Ft Lauderdale Beach, Wyndham Santa Barbara, Wyndham Royal Vista, Wyndham Sea Gardens, Wyndham Shawnee (Poconos)
    The location is in Volusia County (inland from Daytona Beach) ... and is where the local women's county jail is. And there is NOT much around there years ago when I lived in the area ... now there might be a bunch of senior communities.

    Too far from the Orlando parks with limited local roads (no interstate). Not beach front. Cattle ranches or orange groves or wet areas with a lot of Spanish moss.
     
  2. mike130

    mike130 TUG Member

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    The Waves in Ocean City, MD is no longer timeshare.
     
  3. wkrusinski

    wkrusinski Guest

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    Does anyone have info on Peppertree Sands in North Myrtle Beach? Thanks.
     
  4. TUGBrian

    TUGBrian Administrator

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  5. zzcn69

    zzcn69 TUG Member

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    Balboa Towers and Balboa Club both closed a couple of years ago. Balboa Towers had a 30 year RTU which expired. It was supposed to be renovated and opened as year round condos, but that never happened. Balboa Club was nearby and closed for renovation and has never reopened. I had a friend that owned there and last time I talked with her, there was no news of reopening. She is no longer billed for MF
     
  6. pedro47

    pedro47 TUG Review Crew: Expert TUG Member

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    What happen to the timeshare called 560 Ocean Club, Atlantic City. NJ.?
     
  7. dougp26364

    dougp26364 TUG Review Crew: Veteran TUG Member

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    Grand Regency at Thousand Hills in Branson MO has been taken over by the bank. This will be the second or third time this resort finds itself in bankruptcy. The original owner built 2 of the planned 6 to 8 buildings before running out of money. The original developer of the French Quarter Resort in Branson ended up with it before he to fell into liquidation bankruptcy. After that the management of The Colonade took over. Friends of ours arrived yesterday for a reserved vacation to find the property was now bank owned again. They've been put up at The Colonade instead of at Grand Regency.

    It's to bad. This was a decent budget timeshare with nice size units and a good location. If it had ever been built out with all its amenities, it could have been one of our favorites. Instead it's become an orphan resort in perpetual financial trouble.
     
  8. dougp26364

    dougp26364 TUG Review Crew: Veteran TUG Member

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    It appears both The Collanade and Grand Regency have closed down. Both were managed by the same company. Both have been removed from the exchange companies directories and neither can be booked via hotel booking sites.

    There was no advance warning to owners. Friends of ours showed up for their reserved week and that's how they found out. They are currently the only guest at The Collanade. Yesterday all the employees except one were let go. Grand Regency hit owners up for a special assessment last year to make needed repairs.
     
  9. ao8294

    ao8294 TUG Member

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    Hi I'm a Grand Regency time share owner since 2011. I was unaware of this issue until I was trying bank with Interval international. Thank Doug for the information but if the owners needs additional information to start investigating our ownership. Check out goggle Missouri case net and case number is 16AF-CC00742
     
  10. tschwa2

    tschwa2 TUG Member

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    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    This is the final year of Gurneys Inn as a timeshare in Montauk. Buyout was offered in 2012 and owners had the option to sell back immediately, get nothing but get 5 years of usage with no MF, or 5 years continue to pay MF and after that get the buy back offer plus a percentage of the profits if the resort sold for more than a specified amount.
     
  11. TUGBrian

    TUGBrian Administrator

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    updated the global list
     

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