# My Resort is Closing Down



## suzanne

I received  a letter from The Plaza Resort in Reno, NV  that they are ceasing operations as a timeshare property.  I have owned 2 weeks there since the 1985.

They have given me the option of signing the weeks back over to them or selecting one of 3 resorts to transfer to by playing $325.00 transfer fee. I plan to return the weeks back to the as I don't want any of the selections offered in Tahoe. 

They said that the building will be sold once all weeks are either returned to them or transferred to the resorts offered. They also said that after the costs involved in ceasing operations there will not be any funds left to pay out to members. That's the part that sucks to me. I have owned the 2 weeks free and clear and have always paid maintenance fees when due. I find it hard to believe based on property values that there will not be any funds left after the building is sold. Its prime property sitting along side the Truckee River, 2 blocks off the main strip in Reno. Its always been a Gold Crown Resort since RCI was started.

They have based closing on delinquent maint. fees and lack of unit sales over the past few years.

Thanks for listening to me rant.

Suzanne


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## Mike&Edie

I am so sorry to hear about this.  We enjoyed the Plaza very much the two or three times we went there.  You would think by selling off the antiques alone, there would be money leftover.  Please keep us posted on what's happening there.

Mike & Edie
www.fulltimetimeshare.com


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## vacationhopeful

I smell a 'rat' ... 

If you have any of those old financial statements ... like last year or three or so ... this debt (and slow payment of MFs would have to be shown).

Sounds like they (the management company) has received a offer (either inhouse or sweetheart deal) to take over the resort for another casino, full share condo or the LAND to build something.

Stand firm ... I would bet the "offered pot" will increase .. first takers will be the GLAD TO DUMP it crowd.

As for their 'comment' as "ceasing operations will use up all the funds" .... want to bet some BONUS CHECKs will be handed out to management along with sweetheart termination deals?

PS Older and underfunded resorts look and feel run down way before closing. Vacancy is high, lobby furniture is older than the stuff at grandma's, bed & sofas in the units been their for 20+ years, staffing is light & full of either recent HS dropouts or people on social security, no lobby plants & unpainted, no nice landscaping. 

It is a SLOW and VISIBLE death of a resort.


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## bogey21

vacationhopeful said:


> I smell a 'rat' ...
> 
> Stand firm ... I would bet the "offered pot" will increase .. first takers will be the GLAD TO DUMP it crowd.




Agree with the above.

George


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## Ty1on

vacationhopeful said:


> I smell a 'rat' ...
> 
> If you have any of those old financial statements ... like last year or three or so ... this debt (and slow payment of MFs would have to be shown).
> 
> Sounds like they (the management company) has received a offer (either inhouse or sweetheart deal) to take over the resort for another casino, full share condo or the LAND to build something.
> 
> Stand firm ... I would bet the "offered pot" will increase .. first takers will be the GLAD TO DUMP it crowd.
> 
> As for their 'comment' as "ceasing operations will use up all the funds" .... want to bet some BONUS CHECKs will be handed out to management along with sweetheart termination deals?
> 
> PS Older and underfunded resorts look and feel run down way before closing. Vacancy is high, lobby furniture is older than the stuff at grandma's, bed & sofas in the units been their for 20+ years, staffing is light & full of either recent HS dropouts or people on social security, no lobby plants & unpainted, no nice landscaping.
> 
> It is a SLOW and VISIBLE death of a resort.



I know downtown Reno really well.  There are no casinos interested in that property.  Lots of defunct casinos have gone condo, and there is a project or two for new construction condos.  It's all the rage there, so my guess is that this does in fact become another condo project added to the glut.

That said, I agree wholeheartedly with holding out....I don't believe they can just take an owners deed from them, and it will be interesting to see how they pull off getting owners to deed back to them and then pocketing 100% of the sale proceeds.

And, OP, I don't think they're telling you there will be no funds left after selling the property.  I think they're telling you they're exhausting any association funds.  Their clear intent is to have owners give them the deeds so they can sell the building and reap the proceeds.....A former owner wouldn't be due anything.


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## Dori

Something doesn't seem right to me either. Our home resort, Harbour Inn, Ontario, Canada, was facing many issues such as aging, older owner base, delinquent weeks, etc.

As a whole, the owners voted to sell the resort. After all dispensations, owners who were current with their MF's received a percentage of the net profit. We were very happy with the cheque we received. 

This sounds sort of like what has happened in so many South Africa resorts. Stuart Lamont  turned them into rental units. The only difference being we are expected to keep paying our MF's in hopes that our owned week will be rented out.

I would certainly investigate this further.

Good luck!

Dori


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## suzanne

Thanks everyone for your advice. I have a call into the Plaza Management Group for more information. I also have to call RCI to find out if my deposits from 2015 and 2016 are going to be honored for future exchanges or frozen. At least that's what the letter stated from the plaza. It further stated no reservations for 2017 will be taken by the resort and any already reserved and deposited with RCI will be frozen and reservations made with RCI using 2017 deposits will be cancelled.

 I will keep you updated on what I find out.

Suzanne


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## vacationhopeful

suzanne said:


> Thanks everyone for your advice. I have a call into the Plaza Management Group for more information. ..<snip>
> 
> I will keep you updated on what I find out.
> 
> Suzanne



Suzanne ..

A call to Plaza Management Group will most likely be answer by a sweet, young thing who KNOWS NOTHING...thereby, can't tell you anything. And don't bother waiting for a more informed person to call you back ... their interest is getting a free and clear title from each timeshare owner.

I would call the planning commission where this property is located and ASK if anyone has been researching OPTIONS for converting to condos, demolishing structure or rezoning the property for a different use than timeshares. And call over several over several weeks to get different answers from different staff members.


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## rickandcindy23

Linda of course is right!  There is underlying value in the real estate and no one should benefit from your weeks, because you own the deeds.  

You should definitely find out what entity is taking over the property and what the cash price for the real estate is. 

Admittedly, the real estate value is not going to be nearly what you paid, because 52 weeks X developer purchase is a lot of money for a condo, and then there is the inflation on the money you paid.  But you should get something. 

They are definitely trying to get all weeks back without paying for them.  

What management company is this?


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## suzanne

UPDATE: According to RCI my 2015 and 2016 weeks are safe. They will not be frozen or cancelled. That's a relief. As many of you know I lost my beloved husband last November. Due to his long battle with cancer we were not able to travel and use those weeks like we normally would have.

Still nothing from the Plaza Resort. I will try finding out the information that some of you suggested.

Suzanne


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## baf99

Apparently a lot of the older hotels in downtown Reno are being converted to condos. Some of them right around the Plaza Resort. 
http://aroundcarson.com/2005/09/02/the_reno_condo_invasion/

I wonder if something similar is planned for the Plaza, or the property. I agree with others that it seems as if the management group is trying to get people to give up their deeds to avoid distributing proceeds from the sale of the property.


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## Bwolf

Suzanne:  Where is the Board of Directors in all this?  You mention the management group but not a BOD.  Is there no BOD representing the owner's interests?  

Those who smell a rat are spot on.


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## suzanne

UPDATE 2: One of the ladies on the Board of Directors did return my phone call. The Board has been trying to run the resort as they lost the last 2 companies that was hired to handle sales and marketing. Then the person that was trying to handle it at the resort moved away from Reno. They tried to get another group to take it on and they cancelled at the last minute deciding they would only do their on points based club and did not want to be involved with a weeks based resort. They have found a development company that is going to advance them enough funds to continue to operate thru the end of 2016 and cover the expense of recovering all of the weeks whether current or delinquent on the maintenance fees, plus cost of retitling all the weeks back to the Plaza. Once this is done then the Plaza will belong to them without any further cash payout. She said that this was not what they wanted but could see no other choice. They could not find any company willing to take it on as a weeks timeshare.

The Plaza was originally a hotel. It was converted to Studio for 4/2 timeshare units in early 1980's. It was remodeled and marketed as timeshare weeks. Somewhere in the fine print of the by-laws it states that they could cease operations in 2020 if the situation warranted it, and it could be changed by a majority vote by the board to do so earlier. The Board used this option as they did not have the money to continue operating until 2020.

She said the hard part is having to let people go that have worked there for years. All of the Board of Directors own weeks at the resort and have like me for years. The staff are like family members.  She said its very difficult time for them all.

So this is all I know at this point. If anything further comes up I will let you all know.

Suzanne


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## Talent312

As another poster said, once you release or transfer your TS, you are history and owed nothing. But if you hang onto your deed until after they shut-down, then you and any other hold-outs will likely become tenants-in-common with the company. You'll be a stake-holder with who they'll have to deal. Even if your share in the property is ridiculously small, I'd hang onto it until they put something on the table to be rid of you. 

_Note: I'm not a licensed Nevada lawyer, so this is based on general principles.
You should consult a Nevada attorney to determine your legal rights._ 
.


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## Dori

We also had a similar clause at Harbour Inn. Every 10 years or so, we, as owners would vote to keep it open or dissolve and sell the property. Did the owners not get a chance to vote on this?

Why can't the resort be sold as an entire entity? Harbour Inn is now a Knight's Inn. Somehow, the explanation you have been given seems suspect.

I agree with Talent 312 and others. Don't give up you deed until you and other owners see how this whole thing plays out.

Dori


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## Ty1on

It may be that by the contract, the board can vote to dissolve the association without consulting owners.  However, you still own n/51 of a unit in that building.  I don't think they can vote to take your real property away from you, and I don't think they can vote to pledge real property you own to another company, whether they are advancing funds to the association or not.  As mentioned above, you might want to see a RE attorney in Reno.


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## am1

Hopefully someone is getting a kick back in the situation you describe.  Why bother to continue ad not just sell now?


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## TomWK

*Plaza Resort*

I own two units and just found out about the Plaza's situation in October.  

What is strange to me is that this situation was never documented in the prior year's Annual Meeting Minutes.  If they were working on a solution, it should have been discussed in the 2015 meeting.

My last email with questions to the Board have gone unanswered.

As people have stated...don't give up your Deed(s).

Too bad we cannot learn the names/email of the owners.


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## suzanne

I received a letter from Mr Dreschler couple of weeks ago saying they had found a new management company and they would not be closing after all. I called this morning and spoke with a lady regarding his letter as I had sent an email to him 2 weeks ago requesting that the Plaza honor the letter regarding taking the weeks back or transferring ownership to another resort. Told her he had not responded to my email even though his letter said that was the preferred way to contact the Plaza. She said that they would honor the agreement and it would take 2 to 3 weeks for me to receive an email with the documents and I would need to print it off, take it to have my signature notarized and return it to the Plaza. If you would like the new customer service phone number send me a PM and I will send it to you.

Hope this helps.

Suzanne



TomWK said:


> I own two units and just found out about the Plaza's situation in October.
> 
> What is strange to me is that this situation was never documented in the prior year's Annual Meeting Minutes.  If they were working on a solution, it should have been discussed in the 2015 meeting.
> 
> My last email with questions to the Board have gone unanswered.
> 
> As people have stated...don't give up your Deed(s).
> 
> Too bad we cannot learn the names/email of the owners.


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## TomWK

*Plaza Resort*

The reason I just found out recently (October) about the changes is that I recently relocated and they failed to record my new address.  It was only after I did not receive my Yr2017 reservations that I contacted them to find out what's happening.  I now have their email and phone number.

I'll decide what to do in Dec/Jan when the new annual maintenance fees are announced.  Even though they have a new investor to help the situation, I have a gut feeling the maintenance fees will increase greatly.


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## TUGBrian

this is certainly a fascinating story, please keep us updated!


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## Kauai Kid

*Patience of Job a good virtue*

My timeshare, NaPali Kauai Club, at Princeville is also going out of business.  If your situation is similar don't expect things to move rapidly--Condo owners have deeds in 5 units and we should get paid our fair share this January 2017.  There are four more condos to sell and it appears to take about a year to find a buyer and do the closing for each condo

The good news is that we are expected to receive about 90% of the monies we originally paid.  

The bad news the sales are so slow I may be dead before the last units sells.  :hysterical:


Sterling


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## silentg

suzanne said:


> Thanks everyone for your advice. I have a call into the Plaza Management Group for more information. I also have to call RCI to find out if my deposits from 2015 and 2016 are going to be honored for future exchanges or frozen. At least that's what the letter stated from the plaza. It further stated no reservations for 2017 will be taken by the resort and any already reserved and deposited with RCI will be frozen and reservations made with RCI using 2017 deposits will be cancelled.
> 
> I will keep you updated on what I find out.
> 
> Suzanne



Hi Suzanne, If you have your own RCI account then take this to the next level. Years ago I had a similar situation, my resort was dropped from RCI due to not keeping the resort up. I had been paying my maintenance fees and membership was up to date. RCI agent told me that since the resort was not affiliated I couldn't use my week for exchange. I talked to a supervisor said "I have kept up my part, why should I be penilized for this?" They let me exchange my week. The resort has since been reinstated but I no longer own there. The point is if you have kept your week current, you should be able to exchange. Good Luck!
Silentg


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## Sandy

Kauai Kid said:


> My timeshare, NaPali Kauai Club, at Princeville is also going out of business.  If your situation is similar don't expect things to move rapidly--Condo owners have deeds in 5 units and we should get paid our fair share this January 2017.  There are four more condos to sell and it appears to take about a year to find a buyer and do the closing for each condo
> 
> The good news is that we are expected to receive about 90% of the monies we originally paid.
> 
> The bad news the sales are so slow I may be dead before the last units sells.  :hysterical:
> 
> 
> Sterling



Thanks Sterling.

I was just going to join in this discussion referencing our Na Pali Kauai units when I saw your post. Of course, we should not count our eggs until they hatch, but I am hopeful.

Apparently, after reading through this thread, this is becoming a more common occurrence.  All in line with the shifting economy and the fact that baby boomers' kids enjoyed the ride, but do not want the future responsibilities.  Plus us baby boomers ourselves not wanting the long term responsibility in the future, given our changing life stage.


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## ken334

suzanne said:


> I received a letter from Mr Dreschler couple of weeks ago saying they had found a new management company and they would not be closing after all. I called this morning and spoke with a lady regarding his letter as I had sent an email to him 2 weeks ago requesting that the Plaza honor the letter regarding taking the weeks back or transferring ownership to another resort. Told her he had not responded to my email even though his letter said that was the preferred way to contact the Plaza. She said that they would honor the agreement and it would take 2 to 3 weeks for me to receive an email with the documents and I would need to print it off, take it to have my signature notarized and return it to the Plaza. If you would like the new customer service phone number send me a PM and I will send it to you.
> 
> Hope this helps.
> 
> Suzanne


Suzanne, did you ever receive the documents for transferring back your timeshare? I am in the process
of trying to turn my unit back and have not yet received anything.


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## suzanne

ken334 said:


> Suzanne, did you ever receive the documents for transferring back your timeshare? I am in the process
> of trying to turn my unit back and have not yet received anything.



I have not received the documents as of today. They said it would take 2 to 3 weeks to receive them via email. I will post as soon as I get them.

Suzanne


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## tonyg

It doesn't look like there is anything to lose by not transferring the weeks back.


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## K. Lower

I too am trying to return my timeshare back to the Plaza Resort Club. I sent e-mail to the Board.
Maybe I should call instead? Suzanne, please keep us posted on the documents you are supposed
to receive.


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## suzanne

Still nothing from The Plaza. I will give them one more week and call them back. I want it resolved before the first of January if possible. I will keep this thread updated as things happen.

Suzanne


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## suzanne

I received letter from Plaza today. To return my weeks I have to pay Oct. Quarterly main fees that I was previously told I didn't need to pay plus a fee of $350.00 for document prep. They will send me docs to sign once they receive these fees. They said the board emplemented these policies at board meeting on Dec 4, 2016. This is where things stand for me now. I don't know at this point what I will do. Pay over $1100. To get rid of weeks or keep them and pay the Oct. Maint fees to keep acct up todate.
Suzanne


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## pedro47

To the OP, what is the latest information on the resort?


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## suzanne

pedro47 said:


> To the OP, what is the latest information on the resort?


Please see my post from  yesterday, on the letter I just received regarding cost to give weeks back.

Suzanne


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## cerralee

One of my resorts, the Waves in Ocean City Maryland is in the process of dissolving.  At this point, ALL of the owners who did not turn their deeds back in and were current in their maintenance fees have gotten two of the three distribution checks that we were due after the association sold the units at auction.  All owners were first given the option to turn their units back in to the association for free.  For those that held out, the proceeds are being divided among the owners.  So glad I didn't panic and turn my deed back in.  There was a lot of paperwork involved but it was worth it.  It took several years to get all the paperwork and holdout owners on board.


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## K. Lower

suzanne said:


> I received letter from Plaza today. To return my weeks I have to pay Oct. Quarterly main fees that I was previously told I didn't need to pay plus a fee of $350.00 for document prep. They will send me docs to sign once they receive these fees. They said the board emplemented these policies at board meeting on Dec 4, 2016. This is where things stand for me now. I don't know at this point what I will do. Pay over $1100. To get rid of weeks or keep them and pay the Oct. Maint fees to keep acct up todate.
> Suzanne


I also received an email that for $350 I can deed my week back to the Plaza. I have decided to do that because of hardship and the annual maintenance fee is more than a hotel stay for a week somewhere else in Reno. I've found it's hard to sell a timeshare so will take this opportunity to let it go.


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## suzanne

I have reached the decision to pay the fees to get out of the Plaza. I don't see things getting any better even with a new management company.

Suzanne


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## suzanne

Update on resort give back. I received email link yesterday from The Plaza, the weeks are no longer in my name according to the Washoe County recorders office.

Suzanne


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## preinero

Hi Everyone.  I'm trying to follow the thread.  I am researching this for my parents who are aging and are not up to speed on what is happening.  We received the letter explaining that the timeshare is closing and the offers to purchase another club membership or give back the "space" if you will and pay a fee.  Well, yesterday they received a Notice of Default and Election to Sell their share for maintenance dues.  So I'm confused.  Is The Plaza still in business or are they shutting down??  I haven't received anything stating they are continuing to exist under new management.  The more I think about it, the more I feel they should just let it go and move on.  Any ideas? recommendations? or suggestions? would be most helpful


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## suzanne

The Plaza is remaining open under new management. The offer to take the weeks back was accepted in my case as a "hardship" case due to my husband's death in Nov. 2015. I'm not quite sure why they stated that, as they offered to take the weeks back when they were going to close and I accepted the offer. When I received the notice that they were going to remain open, I called and asked that they honor the offer to take the weeks back and was told that they would. The cost to me was $350.00 per week owned. (I owned 2 weeks). I don't know about the Notice of Default as my Maintenance Fees were never delinquent and the weeks were paid for in full. I have returned both weeks, see my previous post. In December I sent the necessary funds and the notarized documents they had sent me. I received confirmation last week that the weeks were transferred out of my name and into the Plaza Resorts name by the Washoe County Recorders office. I would suggest you call the resort and discuss the issue with them as everyone's situation is different.

Suzanne


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## pedro47

What is the HOA telling owners in writing and have anyone received last year owners newsletter or any written correspondence ?


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## suzanne

pedro47 said:


> What is the HOA telling owners in writing and have anyone received last year owners newsletter or any written correspondence ?



The only thing I ever received in writing from the Plaza was the quarterly news letters.  They never mentioned anything about the resort closing and then deciding to remain open under new management. Until I got letter about the closure of the Plaza I had no idea they were in trouble. I did find it interesting that I received an email from RCI that the Plaza was not closing due to finding a new management company before I heard this  from the Plaza. Made me wonder who the new company was,  as I still have no idea who it is.
Suzanne


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## ken334

I was able to return my week back to the new owners of Plaza Resort. The price was $350.00 to cover recording fees and administration expenses. I received a confirmation from management company that the transfer was completed and a link to the Washoe County Recorder where I was able to confirm that the timeshare was transferred to The Plaza Resort.


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## jthitch

ken334 said:


> I was able to return my week back to the new owners of Plaza Resort. The price was $350.00 to cover recording fees and administration expenses. I received a confirmation from management company that the transfer was completed and a link to the Washoe County Recorder where I was able to confirm that the timeshare was transferred to The Plaza Resort.


When I got the letter that they were closing I selected the option to return my week. I heard nothing more until I got the second letter saying never mind. I called the resort several times and got a different story every time. I talked with a Michelle who was involved with the transition. She told me that the option to walk away was still available and that she would email me the paperwork. I got nothing. Then I got the letter saying I had to pay $350 to get out. A second call got Kennedy. She said the board changed their mind and no one could change it. She said she would have Richard Drechsler, the president, call me back. No call. The board of directors have been deceitful and have hidden the situation from the owners. They said it was closing and I made other plans. I was twice told that I could return my week and now they are trying to get me to pay them to take it back. I want nothing to do with this organization and will no longer participate. I have walked away. I will quit claim the title if they like, but I will not allow them to extort $350 from me to get my unit for free.


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## suzanne

jthitch said:


> When I got the letter that they were closing I selected the option to return my week. I heard nothing more until I got the second letter saying never mind. I called the resort several times and got a different story every time. I talked with a Michelle who was involved with the transition. She told me that the option to walk away was still available and that she would email me the paperwork. I got nothing. Then I got the letter saying I had to pay $350 to get out. A second call got Kennedy. She said the board changed their mind and no one could change it. She said she would have Richard Drechsler, the president, call me back. No call. The board of directors have been deceitful and have hidden the situation from the owners. They said it was closing and I made other plans. I was twice told that I could return my week and now they are trying to get me to pay them to take it back. I want nothing to do with this organization and will no longer participate. I have walked away. I will quit claim the title if they like, but I will not allow them to extort $350 from me to get my unit for free.



I agree that the way us owners were treated in this mess really sucked. I did pay the $350.00 per week fee just to get rid of them. Since I owned 2 weeks its cost me $700.00 total to be down with it. I still feel like I was ripped off,  but at least I no longer have to deal with them. I still don't know who the new management group is. But word of advice,  if you do not pay them to take it back or pay your maintenance fees it will be turned over to a collection agency and hurt your credit. They very adamant about that. Good Luck.

Suzanne


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## Emmie

Hello, I am new to this forum, found it by doing a search on what happened to the Plaza. We purchased our week over 30 years ago and used it almost every year. We had been thinking about giving it back as the dues were getting higher then the cost of a hotel room and we get a lot of offers for free rooms. However we really enjoy there and the friendly employees who always remember us. We had mixed feelings when we got the letter. We were in Reno last SeptembSeptember and had a long talk with Richard Drechsler. He explained all the factors that let up to the problems, most have been mentioned above. There are many problems with selling the building due to some environmental concerns about gasoline storage tanks under the street or building  (I don't remember all the details ).  We asked about selling the antiques but they are owned by the family of the orginial owner. We didn't want any of the other resorts so we decided to sign our share back. His assistant took us next door to an office where we signed a quit claim deed. We didn't have to pay any fees.  A few weeks later we received a letter that they weren't closing after all and again had mixed feelings but in the long are glad to be out of it. There might be expenses later on regarding the gasoline tanks needing to be removed. We will miss staying there but will still go to Reno.


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## jthitch

jthitch said:


> When I got the letter that they were closing I selected the option to return my week. I heard nothing more until I got the second letter saying never mind. I called the resort several times and got a different story every time. I talked with a Michelle who was involved with the transition. She told me that the option to walk away was still available and that she would email me the paperwork. I got nothing. Then I got the letter saying I had to pay $350 to get out. A second call got Kennedy. She said the board changed their mind and no one could change it. She said she would have Richard Drechsler, the president, call me back. No call. The board of directors have been deceitful and have hidden the situation from the owners. They said it was closing and I made other plans. I was twice told that I could return my week and now they are trying to get me to pay them to take it back. I want nothing to do with this organization and will no longer participate. I have walked away. I will quit claim the title if they like, but I will not allow them to extort $350 from me to get my unit for free.


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## jthitch

I am out, I got a goodbye email today saying I was no longer a member with a link to the recorded transfer deed. I don't know why they decided to let me leave after saying it would cost $350. Probably they just tired of hearing me complain. It wasn't really the money that bothered me as much as how poorly they treated their members. But I refused to pay anything after what they did to me. The board hid the situation, announced it was closing, cancelled my 2017 reservation, gave me the option to leave, said never mind, said you can still leave under a hardship provision if you pay $350. But it is over now. I will try to never think about them again.


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## bogey21

suzanne said:


> I did pay the $350.00 per week fee just to get rid of them. Since I owned 2 weeks its cost me $700.00 total to be done with it.



You made a good decision.  About 3 years ago I paid $1,000 in lieu of a large Special Assessment to Deed Back a Week at a Colorado Resort.  I have never regretted it.  The end result is that what counts is severing your ownership, not the money.  IMO $700 is a small price to pay for peace of mind.

George


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## momdeb

I just received our "farewell" letter and a link to the recorded Grant Deed being signed over to the Plaza Resort Club.  We have owned since 1986, but we bought it only for trading into RCI.  Over the years that has worked pretty well for us, as the Plaza has always been a Gold Crown, so we traded straight across to some very nice larger units around the country.  Things changed, though, when RCI was sold to Wyndham and the Plaza was now only worth between 14-18 points.  When we got the letter saying they were selling the property, we saw a chance to get out from under it.  I delayed doing anything until this January, and was afraid that they would not accept the timeshare back, since they were going to continue to stay open.  I emailed a letter stating the different reasons why we could not continue to use the timeshare, and fairly quickly got an email response telling us that they would take it back because it was a financial hardship for us to keep it.  All they required was the payment of $350. (I am a Notary Public, so I know that payment is for the title company and is a pretty standard fee in the industry).  I sent the check, then waited over 3 months to hear from them, and only did because I emailed them and asked why I had not received anything.  They quickly responded, and we had the Grant Deed notarized and returned ASAP. 

We have 3 weeks already banked at RCI, and RCI will honor those weeks.  As long as we pay for our membership in RCI, we can still take advantage of their Last Call and their Extra Vacations, even though we no longer own a timeshare.  Many of those deals are WAY better than using a timeshare week, when you add up the total cost of the maintenance fee and exchange fee ($230.).  I am SO relieved to be done with this timeshare!!


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## TomWK

Suzanne, have you received any update on the Plaza's status??  Unfortunately, I could not attend the annual meeting in March.


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