Bethel Inn no longer an RCI Member? No longer a timeshare property?

[escanoe]

I think we need to hire an Attorney to review the Timeshare Ownership Agreement. I'm particularly interested in number 9 on the second page. It reads;
"9. Termination of Condominium. In the event the Condominium is terminated, the Resort shall from proceeds derived from any sale of the Condominium property distribute such sums as are fair and just to the Timeshare Owner in full liquidation of Timeshare Owner's Timeshare pursuant to the provisions of the Condominium Documents." Any thoughts?

I know nothing about the particulars here. But if the developer/owner is flagrantly breaching their contract with RCI as it appears they likely are -- I would say it is worth checking out if they are meeting their obligations to unit owners.

 

[bnoble]

RCI is currently suing the Bethel Inn for breach of contract. Apparently their agreement ran through 2025

I don't have a dog in this fight. But if I owned here, this is what would be going through my mind:

Even if somehow RCI prevails in this suit and forces the new ownership to honor the RCI contract, it's fairly obvious that the affiliation agreement is not going to be renewed after 2025. And, if that happens, the current management will not be required to honor deposits, and it is also likely that they won't. So, the writing is on the wall, and it's less than two years away.

This is also a seasonal destination, with some very quiet weeks after leaf-peeping is over but before skiing starts, and after skiing ends but before golf is realistic. I would not be surprised to hear that a lot of those mud-season weeks are in default, and therefore have voting interests not contributing to quorum and/or controlled by the management company. Add to that the claim that the golf course is going the way of the dodo bird, which is going to make those summer weeks less compelling, which will push more weeks into default.

If this is an owner-controlled resort, you have some hope of getting at least the affiliation agreement changed. But, if it is not, it is VERY HARD to vote out current management--particularly if current management controls the voting interests of weeks in default. Even if that's not the case, most owners are apathetic and barely likely to open the proxy letter, let alone vote it in a way other than recommended by management.

Finally, it does not sound like the new ownership is looking to redevelop the property--which would afford some sort of payout to owners in good standing. At least, it does not sound like that is happening anytime soon. They haven't terminated the condominium plan, only the affiliation with RCI. That means the prospect of payout in response to termination is doubtful, and if it happens might be years in the future.

So, putting that all together, I'd be looking for the exits. If the current management company was offering to take those deedbacks at no cost, I would take them up on the offer. Yes, I'm getting screwed out of a little value. But better to be screwed a little than screwed a lot, and those seem like the options.

 

[Barnyard]

None of us know who each other is. There are potentially hundreds of time share unit owners. Who said anything about the condominium being terminated?

The way I see it, they are dropping out of RCI, this has or will devalue what you purchased. Tania Paul sent a letter to most if not all of the Owner's and she state that she is so excited to introduce the Timeshare Giveback Program, an opportunity for you to deed back your timeshare, potentially at no cost to you. That sound like extortion to me but if it's not extortion than what is it? Because it's not what I purchased. Let's face it, they have no intention of keeping it as it was. Remember the first thing they did was drop RCI. That was always their intention. I have attached the letter for reference and for anyone who may not have seen it. I'm working on compiling information, seeking legal counsel to see if it's worth pursuing, and if it is, I will compile a list of owners that didn't take advantage of the great opportunity to give back something I paid for and greatly enjoined.

 

[sark47]

I share your concerns about the Bethel Inn. Everyone agrees it is against the law what has been done. I am willing to join a class action law suit against both Allan Conners and Giri Hotels.

 

[sark47]

The way I see it, they are dropping out of RCI, this has or will devalue what you purchased. Tania Paul sent a letter to most if not all of the Owner's and she state that she is so excited to introduce the Timeshare Giveback Program, an opportunity for you to deed back your timeshare, potentially at no cost to you. That sound like extortion to me but if it's not extortion than what is it? Because it's not what I purchased. Let's face it, they have no intention of keeping it as it was. Remember the first thing they did was drop RCI. That was always their intention. I have attached the letter for reference and for anyone who may not have seen it. I'm working on compiling information, seeking legal counsel to see if it's worth pursuing, and if it is, I will compile a list of owners that didn't take advantage of the great opportunity to give back something I paid for and greatly enjoined.

I am with you. I think a class action law suit is the way to go. I figure over 10 million was spent in time share weeks.