# Are there any timeshares in Canada controlled by the owners?



## Maple_Leaf (Dec 21, 2013)

There have been numerous reports of crooked timeshare developers in Canada leaning on owners with big special assessments to clean up their messes.  Many of these developers have sweetheart deals with their own management subsidiaries to manage the resorts and they run them into the ground with underfunded reserves.  Some of these affected resorts have weeks for sale on Ebay and other places that may be a trap for some unsuspecting buyer.  One way to manage this risk as a timeshare owner is to buy at resorts controlled by the owners.

Question: Are there any timeshares in Canada controlled by the owners?


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## MaryH (Dec 21, 2013)

Canada with the exception of some cityshares in Vancouver have huge seasonalities so I think independent TS would struggle a bit.

Even Intrawest had some bumps.


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## djyamyam (Dec 21, 2013)

Maple_Leaf said:


> There have been numerous reports of crooked timeshare developers in Canada leaning on owners with big special assessments to clean up their messes.  Many of these developers have sweetheart deals with their own management subsidiaries to manage the resorts and they run them into the ground with underfunded reserves.  Some of these affected resorts have weeks for sale on Ebay and other places that may be a trap for some unsuspecting buyer.  One way to manage this risk as a timeshare owner is to buy at resorts controlled by the owners.
> 
> Question: Are there any timeshares in Canada controlled by the owners?



The Whistler Vacation Club resorts (Twin Peaks and Lake Placid Lodge) are self-managed by the owners.  They have been for about 3-4 years now.  They are booted out the developer and have made things work.  From a financial standpoint, they are in very good shape with MF defaults in the 6-10% range (might be on the high side) which is significantly better than the resort average.


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## eal (Dec 21, 2013)

As well as Whistler Vacation Club, who won this year's Cornerstone Award "acknowledging individuals, HOA's or Corporations that have had a positive effect on the (timeshare) industry and been game changers", Pacific Shores on Vancouver Island is now owner-managed after parting ways with the developer and doing well.


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## Maple_Leaf (Dec 22, 2013)

djyamyam said:


> The Whistler Vacation Club resorts (Twin Peaks and Lake Placid Lodge) are self-managed by the owners.  They have been for about 3-4 years now.  They are booted out the developer and have made things work.  From a financial standpoint, they are in very good shape with MF defaults in the 6-10% range (might be on the high side) which is significantly better than the resort average.



Congratulations to them for taking the initiative to show the developer the door.  Whistler is a world-class resort so the HOAs should be able to make a go of it.


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