Wyndham has "whamed" Celebrity Resorts

according to our sales rep ( RCI exchange updater ), Wyndham has acquired the Celebrity Resorts which were in financial trouble

lawgs said:

according to our sales rep ( RCI exchange updater ), Wyndham has acquired the Celebrity Resorts which were in financial trouble

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Very interesting (...if it's true). I can't really personally fathom why Wyndham would want to absorb a company (or its' +/- a dozen relatively weak resorts) already in Chapter 11 bankruptcy since March, 2010.
Then again, I can't and don't claim to know a thing about such big corporate machinations.

Let's wait and see if this is even true. This might be a good time to remember the old adage about timeshare salespeople --- "If their lips are moving, they're probably lying".

I sure hope this isn't true. I like my Celebrity resort and don't need Wyndham to come in and mess it up like they did to Fairfield.

Just curious...

Pat H said:

I sure hope this isn't true. I like my Celebrity resort and don't need Wyndham to come in and mess it up like they did to Fairfield.

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I certainly appreciate and respect that you like your resort, but the ugly fact remains that Celebrity Resorts, as a company, is bankrupt and has actually been in Chapter 11 bankruptcy status for eight months now. Clearly, whatever the Myers bunch has been doing with (or to) the company has resulted in bankruptcy.

With this irrefutable fact looming overhead like a guillotine, I'm curious what you, as a Celebrity owner, would like to see happen to change the company bankruptcy situation. I'm certainly not in any way waving the Wyndham flag here; I'm just wondering who or what you would prefer to see happen as an alternative route or solution for the bankrupt entity known as Celebrity Resorts...

If it came from a sales rep, it almost certainly isn't true, unless by some miracle the truth happens to help the rep sell a timeshare. Any actual truth is just luck of the draw.

This one doesn't make that much sense from a "fit" perspective.

This wouldn't seem to fit the WAAM model unless celebrity has a bunch resorts that are still in sales. Wyndham makes their money mostly on sales so to buy out another resort chain wouldn't make much sense unless they would set it up like a 3rd resort chain. Kind of how worldmark and wyndham are split maybe something similar.


Jason

bnoble said:

This one doesn't make that much sense from a "fit" perspective.

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I agree. Wyndham buying Celebrity Resorts as a company would essentially mean their acquiring 13 assorted, disparate, vastly different facilities, many of them just converted (...and /or failed) motels, some of them bordering on outright dumpy (I know nothing at all about the quality of Hanalei Bay in HI, however).

This just does not seem (to me, anyhow) like a "package" from which Wyndham could possibly extract any possible "benefit" but, as openly acknowledged previously, I also don't pretend to understand for a moment the machinations, mindset or financials of big corporates. We'll see soon enough if it's even true...

i dont believe wyndham "whamed" celebrity. however, that is one great verb.

WAAM, "whamed"......WAZZAT???

siesta said:

i dont believe wyndham "whamed" celebrity. however, that is one great verb.

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...and apparently one with multiple spellings (or perhaps the other reference to WAAM is an acronym for something; I've no clue in either case).

theo said:

...and apparently one with multiple spellings (or perhaps the other reference to WAAM is an acronym for something; I've no clue in either case).

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I believe the acronym was Wyndham Asset and Acquisition Management or something along those lines. Basically they were acquiring properties that were mostly or completely built by a developer who was having trouble moving them or finishing out the sales. I think Towers on the Grove was the first disclosed WAAM purchase.

Here's a Quick Update on Celebrity Resorts' Bankruptcy - from The Gatehouse/insidethegatehouse.com - dated November 13, 2010


Richard

Slowly separating the wheat from the chaff...

MULTIZ321 said:

Here's a Quick Update on Celebrity Resorts' Bankruptcy - from The Gatehouse/insidethegatehouse.com - dated November 13, 2010
Richard

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Thanks for that link, Richard. After reading the update, which is only about a week old now, it would certainly seem that neither Wyndham (...nor anyone else, for that matter) could or would likely be initiating a purchase of Celebrity Resorts right now while the Meyers' are still fighting in court (and still unresolved) regarding whether Dad Neil or son Jared is actually the legitimate CEO of the bankrupt company.

I think it's looking more and more like that sales rep referenced by the OP in post #1 was indeed moving his lips and....well.... you know the rest.

jjmanthei05 said:

This wouldn't seem to fit the WAAM model unless celebrity has a bunch resorts that are still in sales. Wyndham makes their money mostly on sales so to buy out another resort chain wouldn't make much sense unless they would set it up like a 3rd resort chain. Kind of how worldmark and wyndham are split maybe something similar.


Jason

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Wyndham is big into the ''points conversion'' racket, and resorts like this may be targets for that.

I hope it's true

As a long time owner of Ramada/Leisure/Celebrity Suites, and obviously as of late an unhappy one, I sure hope it is true. It can't get much worse from an owner's standpoint. Just received a call last week regarding a "Owner's phone interview request" from Celebrity which is nothing but a points push.
I just don't see why another company would or could take on all of the incured debt and family infighting currently going on in the Meyer's corporation.