# Grand Cayman resort changing to Holiday Inn Resort



## smileyface (Jan 31, 2013)

The timeshare owners received a letter from the new resort manager that the Holiday Inn Resorts have now purchased and there will be some changes.  I searched through the threads but didn't notice any comments about Holiday Inn. What concerns me is that the timeshare units have not had any upgrades to the furnishings, while the resort has had major renovations. The most recent financial report was typed all on one page with limited information of the expenses for 2012. There was no information about income coming in. Owners are talking to each other via email, but it is very difficult to get a clear answer from the resort. We were all asked if we would like to pay for new bedspreads, draperies, etc. which should have been done a few years back. The contract we have states "luxury accommodations" but who determines the definition of this? The maintenance fees went up again, so we are wondering if we are being taken advantage of. Does anyone have any experience with this? The resort has changed owners 3 times since we bought TS in 2004. Other owners are just glad the place is still open. I'm keeping my fingers crossed and hoping for the best. I look forward to any of your comments. Thank you.


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## mecllap (Feb 1, 2013)

I was dismayed at how much the MFs went up, but didn't bother to comment on the bedspread, etc. survey.  Guess I'm in the "just glad the place is still open" camp; we love it there.  I had a nice, encouraging chat with Reggie (the new owner) on my last visit a year ago (he told me he was working on an agreement with Holiday), but am not going to be able to return this year to see how things are going.  I don't think either Ramada or Holiday actually purchased the resort; it was some kind of operational agreement; I think the owner is still a local guy (not the Fosters, tho).  My understanding is that Holiday is mostly involved with guest services, marketing and running the hotel side of things (the new building), but I don't know that for 100%.

They're not selling timeshares anymore.  I don't know any other owners to email with.  

Unfortunately, I think we're at their mercy.  Did you see the "Queen of Versailles" (the David Seigel/Westgate movie -- shows a little of the inside of the timeshare industry).


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## smileyface (Feb 7, 2013)

Hello there, Thanks for responding. I'm glad it's still open too. At least we can go for a vacation and get away from the snow haha. Big storm coming our way tonight so I may not get out tomorrow. Yes the MRs have really gone up. I should have just kept a one bedroom and not upgraded...got talked into it by my husband and the sales pitch. Live and learn and that's OK with me. If they are not selling any more timeshare weeks, where does that leave us? At their mercy? Do we have a legal leg to stand on? I would really like to know if we have any rights at all under the Cayman law of contracts. I do have a list of members that I am in contact with. We now have a communication board on-line if you are interested in participating in the current chat. I told them about TUG and how great it is but you are the only one I've met on TUG. I will mention this website again to the group.....I think they could really benefit from membership. It's good to chat with you...let me know about the communication board for the GCR owners. Also, thanks for the tip about the movie...I will look it up!


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## gldnpear (Apr 23, 2013)

I'm very nervous about this changeover.  The MF are very high and I think they used that money for the hotel side since I hear (haven't been back in several years) that the timeshares are very dated now.  We are going down in November to see what is going on - if we can find out anything.  We would love to sell it, but I doubt very much if that is possible.  They will probably keep taking our money and put money into the property and rent out the hotel at higher prices.  I wonder if II will drop them at some point - we have traded for several years and if we can't sell that is our only option at this point.


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