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Sticky - Bankrupt / Closed resorts

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

  1. TUGBrian

    TUGBrian Administrator

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    Lots of speculation of delinquent fees and such causing resorts to declare bankrupcy and close down, but its rarely ever in the news when this actually happens unless its a major resort.

    As we have been doing some emails to members about resorts that have not been updated in many years, its come to no surprise that a number of replies have been from owners informing us that the resort has closed or shut down due to a myriad of issues.

    I wanted to start listing these resorts somewhere as owners provide the information on the closings...so here we go:

    [UPDATED LISTING AS Of 6.2017]

    NOTE: Information as Reported by Various Sources

    Sorted: by Location [State within the United States or if INTL by Country]

    River Grove Chalets Felton CA
    Palm Springs villas Palm springs CA
    Warner Springs Ranch, Warner Springs CA
    Club Vacances Magog Quebec, Canada
    Sutherland Crossing, Crystal Beach, FL
    Neptune Hollywood Beach Club, Hollywood, FL
    Spanish River Resort, Delray Beach, FL
    Ocean Palms - New Smyrna Beach, FL
    Jolly Harbour Marina and Golf Resort, Antigua
    Prospect Reef Resort, Tortola, British Virgin Islands
    Lodge at Horseshoe Resort, Quebec, Canada
    Indies Suites Cayman Islands
    Divi Tiara Beach Resort, Cayaman Islands (hurricane)
    Royal Caraibes, Guadeloupe
    Xpu-Ha Palace, Quintana Roo, Mexico
    Encanto Timeshares, Playa Del Carmen, Mexico
    Vacation Club at Bahamia at Royal Oasis Crown Plaza, Bahamas
    North Harbor III, Slidell, Louisiana (hurricane destroyed)
    Harbor Hill at Provincetown in MA *****
    Club at Cape Cod, Cape Cod, MA
    Legend Resort, Vernon, NJ
    560 Ocean Club, Atlantic City, NJ
    Deer Run Village, Samford, NY
    Nottingham Village (with Friar Tuck Inn) , Catskill, NY
    Deschutes River Ranch, Bend, Oregon
    Club La Costa Hustyns - UK
    apple valley - ohio
    Peppertree Atlantic Beach Phase I. - Atlantic Beach, NC
    La Renaissance, Atlantic City, NJ
    Waves Ocean City, MD
    Balboa Towers and Balboa Club
    Grand Regency at Thousand Hills - Branson MO
    Collanade
    Gurneys Inn (closing 2018)

    Sorted Alphabetically

    560 Ocean Club, Atlantic City, NJ
    Apple Valley - Ohio
    Balboa Towers and Balboa Club
    Club at Cape Cod Cape Cod, MA
    Club Vacances Magog, Quebec, Canada
    Collanade
    Deer Run Village , Samford, NY
    Deschutes River Ranch, Bend, Oregon
    Divi Tiara Beach Resort, Cayaman Islands
    Encanto Timeshares, Playa Del Carmen, Mexico
    Grand Regency at Thousand Hills, Branson
    Gurneys Inn (closing 2018)
    Harbor Hill at Provincetown in MA *****
    Hustyns - club la costa - UK
    Indies Suites, Cayman Islands
    Jolly Harbour Marina and Golf Resort, Antigua
    La Renaissance, Atlantic City, NJ
    Legend Resort, Vernon, NJ
    Lodge at Horseshoe Resort, Quebec, Canada
    Neptune Hollywood Beach Club, Hollywood Beach, FL
    North Harbor III, Slidell, Louisiana (hurricane destroyed)
    Nottingham Village (with Friar Tuck Inn), Catskill, NY
    Ocean Palms - New Smyrna Beach, FL
    Palm Springs Villas, Palm Springs, CA
    Peppertree Atlantic Beach Phase I. Atlantic Beach, NC
    Prospect Reef Resort, Tortola, British Virgin Islands
    River Grove Chalets, Felton, CA
    Royal Caraibes, Guadeloupe
    Spanish River Resort, Delray Beach, FL
    Sutherland Crossing, Crystal Beach, FL
    Vacation Club at Bahamia at Royal Oasis Crown Plaza, Bahamas
    Warner Springs Ranch, Warner Springs, CA
    Waves, Ocean City, MD
    Xpu-Ha Palace, Quinta Roo, Mexico


    ill keep this updated as more come in, please feel free to post up known / recent closures and ill add them to the list.
     
    Last edited: Sep 7, 2017
  2. theo

    theo TUG Review Crew: Veteran TUG Member

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    Here's another one...

    Sutherland Crossing in Crystal Beach, FL --- just a very few years ago.
     
  3. Bunk

    Bunk TUG Member

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    Nottingham Village (with Friar Tuck Inn) , Catskill, NY DOD: 2011

    Legend Resort, Vernon, NJ RIP: 2007
     
  4. SMHarman

    SMHarman TUG Member

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    Could you add a city and state to the list please.
     
  5. Roger830

    Roger830 TUG Member

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    Neptune Hollywood Beach Club, Florida was a timeshare that was purchased from the owners. Owners at the Hollywood Sands that owned there reported that they received $6,500 for each week. Someone, not an owner, told me that they got $5,000 - $6,000. Perhaps a studio got $5,000.

    I stayed there in 2007 and an owner told me they were offered over $6,000,000 and refused it. Broward records shows that it went for $7,200,000 Oct 29, 2013.

    https://officialrecords.broward.org...pt=-1&dt=ALL DOCUMENT TYPES&st=fullname&vbt=M
     
  6. Rent_Share

    Rent_Share Guest

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    IMHI that would be the euivient if call a running play instead of a pass in the Super Bowel
     
  7. silentg

    silentg TUG Review Crew: Expert TUG Member

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    Resorts Owned:
    Orange Lake, Holly Tree,Calini Beach, Fitzpatrick's Castle Holiday Homes, Pines,
    Fishermen's Village
    Hollywood Sands is still a timeshare! Why would they buy owners out?
     
  8. GrayFal

    GrayFal TUG Member

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    Marriott Bluegreen WYN WestinStJohn VGV & CV SVV Morritt's Seaside
    Thanks. :)
     
    Last edited: Feb 21, 2015
  9. Roger830

    Roger830 TUG Member

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    OK, me let be clearer.

    We used to rent at the Neptune 1998-2000 before we bought a week at the Sands. We also rented 2007 and 2008 when the Sands was closed for repairs.

    In 07 or 08 someone we met then from RI told us about the $6,000,000. They were mad that it was rejected, then the market dropped.

    Also, we met a younger couple also from CT. At first the mother owned 5 weeks, then they inherited them. They rented 4 and stayed 1 week. This year we bumped into them and they told us that they were all bought out by a foreign investor. They said that they broke about even, but because the units were free to them, I assumed it was close to what the mother paid.

    I then talked to a guest at the Sands about it and he told be that someone told him he received $6,500. I talked to someone who works at the Sands resort, and she told me that people that owned at the Sands told her that they got $5,000-$6,000.

    I couldn't find any evidence of individual deeds being processed, just foreclosures. Perhaps once the association is dissolved, those individual deeds have no purpose.
     
    Last edited: Feb 21, 2015
  10. suzanne

    suzanne Tug Review Crew: Rookie TUG Member

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    Brian, thank you for starting this thread. I think it will be very helpful to everyone.

    Suzanne
     
  11. TUGBrian

    TUGBrian Administrator

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    added locations
     
  12. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    Resorts Owned:
    HGVC x2 and Gatlinburg Town Square
    This should prolly be a sticky, lest it get lost among the trivia of the day.
    .
     
  13. rapmarks

    rapmarks TUG Review Crew: Expert TUG Member

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    there was a resort in Bonita Springs near the municipal golf course that was timeshares in the 90's and early 2000's, but I don't believe it is one any longer. Golf Villas of Bonita
     
    Last edited: Feb 21, 2015
  14. engelage

    engelage TUG Member

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    Howey in the Hills, FL

    There was a timeshare in Howey in the Hills, Florida outside of Orlando that no longer exists. Apparently, the board of directors accidentally forgot to remember to pay the taxes when due. This was several years ago. Then, someone purchased the tax deed and ended up with ownership of the property and the timeshare owners were pushed out. It would seem the board would have a fiduciary responsibility to the owners to at least pay the taxes or to carry errors and omissions insurance. The owners were powerless to do much about it except on an individual basis. Hard to imagine timeshare ownership can merely evaporate so easily.
     
  15. moonstone

    moonstone TUG Member

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    The timeshare closest to us was The Lodge at Horseshoe Resort (RCI #0580) which closed a few years ago. It is nearly walking distance (downhill) from Carriage Ridge & Hills, a great location at the foot of the ski hill. The maintenance fees went crazy high & owners walked away in droves. There were many articles about the closing in our local papers, a lot of unhappy owners! We stayed there (before even thinking of moving to the area) in 1986 & it was old & tired then. It was (is) being converted to condos now I believe.

    ~Diane
     
  16. b2bailey

    b2bailey TUG Member

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    This is nearly impossible to believe...I think there was an underlying motive.

    First, it takes several years and many notices for this to happen. I am suspect that the person who bought the deed for back taxes had some connection to the resort.
     
  17. pedro47

    pedro47 TUG Review Crew: Expert TUG Member

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    560 Ocean Club, Atlantic City, NJ on the broad walk many, many years ago.
     
  18. lynne

    lynne TUG Member

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    Spanish river resort, delray beach,fl
     
  19. zilentbob

    zilentbob TUG Member

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    That's very interesting !
    So although the new condos (Ridge & Hills) are very nice and well managed now, I'm thinking many people are sick of the fees and want to get out.
    Can the HOA force a sale and get our money back ?

    What happens in the case of bankruptcy/closing of the resort?
    Do owners ever get some money back ?? :confused:
    That's what I was hoping for Carriage Hills.
     
  20. TUGBrian

    TUGBrian Administrator

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    In most cases I have seen/heard from owners reporting the situation...

    the resort and assets are sold, and the proceeds go to first paying all of the outstanding debt (ie the reason the resort was in bankrupcy to begin with). Only after all that has been settled, to owners get a share of whats leftover (if anything).
     
  21. pedro47

    pedro47 TUG Review Crew: Expert TUG Member

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    What did the owners of 560 Ocean Club received from the court?
     
  22. humor_monger

    humor_monger TUG Review Crew: Veteran TUG Member

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    Deschutes River Ranch, Bend, Oregon dissolved early 2000's
    North Harbor III, Slidell, Louisiana wiped out by Hurricane Katrina
     
  23. amycurl

    amycurl TUG Member

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    Prospect Reef Resort, Tortola, BVI....taken over by the BVI government from the developer, and the owners got squat. Years of advocacy and litigation, and still....bupkiss.
     
  24. ebratt

    ebratt TUG Member

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    El Faro Residences

    Encanto Timeshares, located at the El Faro Residence, Playa del Carmen MX, has ceased to honor their timeshare contracts
     
  25. rhonda

    rhonda TUG Review Crew: Veteran TUG Member

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    Warner Springs Ranch, Warner Springs CA -- closed January 2012; affiliated with II

    Brian: Any chance the list in post #1 could be maintained in either Alphabetical or Geographical order? Thx!
     

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