# Tahoe Seasons hostile takeover?



## AnnaO (Nov 13, 2012)

I got an email from the Tahoe Seasons management warning me about a need to vote due to some group planning a hostile takeover of the Board> They have not said anything about who the group is and what they agenda might me. But perhaps it's the owners organizing? May be that's not a bad thing?
Anyone here heard of this?


----------



## timeos2 (Nov 13, 2012)

I believe this is currently a VRI managed resort and another Developer based management has bought a block of time and is challenging both the Board members & potentially the management contract. If I where an owner there I would make sure to send my proxy - better yet send it AND attend the next annual meeting - and get any other owners I knew to be sure they also send theirs (and attend if they can).  Having any Developer get control of the Board at any resort is NOT a good thing for the individual owners. Ever. No matter who that Developer may be.  Pay attention to what they are asking and respond. It is your resort. Be proactive don't let others decide for you.


----------



## Rent_Share (Nov 13, 2012)

This property was facing special assesments

http://tug2.net/googlesearchresults.html?cx=partner-pub-5638140788811827%3A1880241595&cof=FORID%3A10&ie=UTF-8&q=%22tahoe+seasons+Special+Assesement&sa=Search

There was an ongoing fight between Monarch (Now DRI) and VRI

Perhaps the new owner of Monarch Grand Vacations (DRI) might be the interloper


----------



## AnnaO (Nov 14, 2012)

*Downside of DRI takeover?*

Still pondering.... So let's assume that it's DRI squeezing its way to the BOD of Tahoe Seasons. What's the downside? The TS owners currently have very little if at all control. Resale value is null, maintenance fees keep going up beyond reasonable. Perhaps a shake up is warranted?


----------



## Rent_Share (Nov 14, 2012)

My reccolection was they when they couldn't get the SA passed they just jacked the maintenance fees


----------



## AnnaO (Nov 14, 2012)

*Secret buy back program*

TSR offered to take my deed back for $1000. Apparently some program opened up recently. Who knew? I was told I need to hurry. The program "might" close by Dec 8, the BOD Meeting incidentally. I chose to decline. But thought some others might be interested.


----------



## DeniseM (Nov 14, 2012)

If TSR is the resort, and the offer is legitimate - I'd jump on it!  

This resort has had negative value for years, and I don't expect it to change.  Since $1,000 is $268 less than your 2013 maintenance fee, I think it's a bargain!

Look at it this way:  If you don't sell it now (and I don't think there is any chance that you can sell it for $399 + closing costs, when these are going for 0 with no offers on ebay) you will have to pay $1,268 or more in just a few months ANYWAY!


----------



## Rent_Share (Nov 14, 2012)

AnnaO said:


> TSR offered to take my deed back for $1000. Apparently some program opened up recently. Who knew? I was told I need to hurry. The program "might" close by Dec 8, the BOD Meeting incidentally. I chose to decline. But thought some others might be interested.


 

You pay them $ 1,000 or they pay you ?


----------



## AnnaO (Nov 14, 2012)

Rent_Share said:


> You pay them $ 1,000 or they pay you ?



They wanted me to pay them. I said no. Not that desperate.


----------



## DeniseM (Nov 14, 2012)

AnnaO said:


> They wanted me to pay them. I said no. Not that desperate.



When is the 2013 maintenance fee due?


----------



## AnnaO (Nov 15, 2012)

DeniseM said:


> When is the 2013 maintenance fee due?



The MF assessments just came out last week. Due in December.


----------



## csxjohn (Nov 15, 2012)

AnnaO said:


> The MF assessments just came out last week. Due in December.



I'd follow Denise's advice here.  You will pay more in MFs than the $1,000.  

If you don't take the offer you may be paying the MFs again this time next year.

Assuming the offer is actually from your resort and not a rescue company trying to look like your resort.


----------



## AnnaO (Nov 15, 2012)

csxjohn said:


> I'd follow Denise's advice here.  You will pay more in MFs than the $1,000.
> 
> If you don't take the offer you may be paying the MFs again this time next year.
> 
> Assuming the offer is actually from your resort and not a rescue company trying to look like your resort.



If I pay $1220 in MF I have a use of the week. For most weeks that is not viable, but for the Presidents Week it is still a good option. If nothing else, SFX is always campaining for me to deposit it.

If I pay $1000 to the resort, I am paying for squat. I am trying to sell my week because we do not need Presidents Week anymore, but I am not desperate. Certainly not at the expense of paying someone $1000. 

Plus, I believe the resort made that offer to buy my vote in the upcoming BOD elections. I am not sure that's the right thing to do.


----------



## AnnaO (Nov 15, 2012)

DeniseM said:


> If TSR is the resort, and the offer is legitimate - I'd jump on it!
> 
> This resort has had negative value for years, and I don't expect it to change.  Since $1,000 is $268 less than your 2013 maintenance fee, I think it's a bargain!
> 
> Look at it this way:  If you don't sell it now (and I don't think there is any chance that you can sell it for $399 + closing costs, when these are going for 0 with no offers on ebay) you will have to pay $1,268 or more in just a few months ANYWAY!



I agree that most weeks @TSR, those which are floating, are worthless, the resort itself rents those units for less than MF most of the time. But there are few holiday weeks (Christmas & Presidents Week in particular) which are an exception. In a good snow year rentals are good for Presidents Week. And SFX keeps begging me to deposit the week with them after I did it once.

 In my opinion, the skiing here is better than from the Mariott. Mariott is at the base of Gondola, in the center of town. The gondola lines are neverending, especially in the morning and there is no other way up the mountain. Tahoe Seasons is at the California Base, where crowds for the tram are minimal, and if there is a line to the tram, you can catch a lift up.

I am trying to sell because we do not need the Presidents Week anymore and I do not have time to deal with rentals or exchanges. But it served us very well over the years and I am not desperate.


----------

