# Update on Fairmont Resort Properties houseboats



## Netgeek (May 10, 2010)

Well, the writing was on the wall.  After running their club boats at a loss, and a failed attempt at bringing Shuswap Lakes Resort Club owners onboard to purchase additional land-based weeks, Fairmont Resort Properties has officially ceased houseboat operations.

They claim that they are only "suspending" them for the next two years while they sort through the Creditor Protection, but the only way out is a White Knight gesture by NorthWynd Propertyies Real Estate Investment Trust, and the restructure/takover will not be leaning towards putting these money losers back into the water.

So now we wait for whatever "deal" they are willing to offer us.  Long time owners got their money's worth out, and while it would sting to walk away, it is not the end of the world.  People like ourselves who got suckered into purchasing an additional week to access their "Platinum Club" will probably be left high and dry with a bum week at Fairmont and zero trade ability.

The big hurt is going to be on people who traded their SLRC week for weeks elsewhere, either through Fairmont, RCI or Interval.  And anyone who traded in through RCI or Interval just got screwed.  This one ain't over by a long shot, baby!  I smell a whackload of trouble for Fairmont and/or anyone who takes over the operations.


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