# Interesting, Wyndham taking over Towers On The Grove Condo In North Myrtle Beach



## TUGBrian (Mar 12, 2010)

Renaming it Wyndham Vacation Resorts Towers on the Grove at North Myrtle Beach 

quite a mouthfull =)

http://www.bizjournals.com/orlando/stories/2010/03/08/daily19.html


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## TUGBrian (Mar 18, 2010)

another article on this story

http://www.orlandosentinel.com/business/os-wyndham-timeshare-deal-20100316,0,4213910.story


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## BellaWyn (Mar 18, 2010)

Still not 100% clear on what "fee-for-service-timeshare" means.

Wyndham Worldwide

Towers on the Grove


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## bnoble (Mar 18, 2010)

It means Wyn isn't buying the condos up front before selling UDIs in them.  They're just taking a cut of the sales, presumably, and passing the rest on to the owners.  Shrewd move by Wyn in the current real estate market---the condo owner probably doesn't have many other options, but Wyn gets new inventory to sell without committing capital.


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## BellaWyn (Mar 18, 2010)

So Wyndham just acts as the marketing front and takes a marketing fee from the sales?  What would people really be buying?  Property or a program?


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## bnoble (Mar 18, 2010)

Property, just as they would if Wyndham owned it; the timeshare covenants work the same way.


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## Twinkstarr (Mar 19, 2010)

bnoble said:


> It means Wyn isn't buying the condos up front before selling UDIs in them.  They're just taking a cut of the sales, presumably, and passing the rest on to the owners.  Shrewd move by Wyn in the current real estate market---the condo owner probably doesn't have many other options, but Wyn gets new inventory to sell without committing capital.



A very smart move, and from what DH and I have read, this is just the start.


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## bnoble (Mar 19, 2010)

The quotes I've ready from Wyn mucky-mucks suggest that they plan to do several more of these as quickly as they can.  Strike while the iron is hot, as it were.  I'm guessing whoever came up with the idea at Wyndham has been given a nice promotion/bonus, because it's true genius.



> Property, just as they would if Wyndham owned it



I should amend this: if they sell it as Club Wyndham Access, then it won't be sold as real property.  But, that's independent of who owns the underlying assets---it's only a function of how the covenants are written.


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## chriskre (Mar 19, 2010)

So does this mean us regular Wyndham resale buyers will have another option in they Wyndham family or is this going to be a special club within the club?  

I'd love to see them do this in more big cities with maybe some of these gorgeous high rises that are beautiful but going belly up with foreclosures like my city of Miami.  That would be a nice addition to our club.


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## Twinkstarr (Mar 20, 2010)

chriskre said:


> So does this mean us regular Wyndham resale buyers will have another option in they Wyndham family or is this going to be a special club within the club?
> 
> I'd love to see them do this in more big cities with maybe some of these gorgeous high rises that are beautiful but going belly up with foreclosures like my city of Miami.  That would be a nice addition to our club.



From what I've read from Wyndham(presentations they've given to the financial types, not bs from sales weasels), these unit will be regular inventory. It's a way to get new resorts with out an outlay of a large amount of capital. Also I've heard talk of more "urban" resorts, so you may get your wish. 

I'm figuring the SW FL area might be the next target(Naples, Marco Island area). Be great for Brian, myself and the others on the I-75 corridor.


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## jeffmelpsl (Mar 20, 2010)

The only losers will be the existing 45 owners.  If they ever try to sell them they can never sell them as a whole unit unless they have cash buyers.  No bank will ever touch them.


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## Jya-Ning (Mar 20, 2010)

jeffmelpsl said:


> The only losers will be the existing 45 owners.  If they ever try to sell them they can never sell them as a whole unit unless they have cash buyers.  No bank will ever touch them.



Wyndham has a lot of condos that mixed with both whole owner and TS.

The only problem is coming to MF time, both sides believe they are taken advantage by the other group.

Jya-Ning


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## chriskre (Mar 21, 2010)

jeffmelpsl said:


> The only losers will be the existing 45 owners.  If they ever try to sell them they can never sell them as a whole unit unless they have cash buyers.  No bank will ever touch them.



Maybe these owners should let Wyndham sell their units in weeks also and give them a cut on each week just like they are doing with the developers.

I know I'd approach them and get out ASAP if I purchased there.  :annoyed:


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## jeffmelpsl (Mar 21, 2010)

Jya-Ning said:


> Wyndham has a lot of condos that mixed with both whole owner and TS.
> 
> The only problem is coming to MF time, both sides believe they are taken advantage by the other group.
> 
> Jya-Ning



Yes they are called condotels and are no longer available for mortgages since the credit crisis started.


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## Jya-Ning (Mar 22, 2010)

jeffmelpsl said:


> Yes they are called condotels and are no longer available for mortgages since the credit crisis started.



Than does not matter if Wyndham take over and make the rest of condo TS or not, at current moment, there is not much market unless seller pay cash.

Although it maybe nicer if the developer affliate with some bigger name like Trump or Ritz, it still gives a chance for those project actually operate.   But it will require the other side willing to take it with some price.  Who knows, after say 5 or 10 years, if the unit itself can show profit, it will get commerical loans.  And at least for the current moment, the unit can start to get rent and operates.

Jya-Ning


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## Goofyhobbie (Apr 20, 2010)

*Wyndham Vacation Resorts Towers on the Grove, North Myrtle Beach, SC*

Update:

As Brian said earlier, saying the name is a mouth full.

Here is the latest website information for those interested.

http://www.towersonthegrove.com/

Those of you planning a vist to North Myrtle Beach this summer be on the alert for Wyndham Update Opportunities and if you go share what the "Weasels" are saying about this Used but new Wyndham property offering.

Meanwhile: *RCI* is currently marketing some of the Units which Wyndham has made available for RENT in Extra Vacations.

To the best of my knowledge there are currently no exchanges being offered. But, I just might not be able to see them using my traders. 

If anyone sees a sighting where Exchanges are being offered share with other TUG MEMBERS at the Sightings/Distressed Forum. 

Wyndham Vacation Resorts Towers on the Grove at North Myrtle Beach (#C342)  
2100 N. Ocean Blvd 
North Myrtle Beach, SC  29582 

Units that meet your criteria Total Units Available: 71 

Examples of the 71 offerings are provided below:

Unit Type Max Occup
(Privacy) Kitchen Check-In Date Check-Out Date Price 

  1 BR 4 (2) Full 21-May-2010 28-May-2010 USD 999.99 
  1 BR 4 (2) Full 28-May-2010 04-Jun-2010 USD 1,579.99 
  1 BR 4 (2) Full 04-Jun-2010 11-Jun-2010 USD 1,579.99 
  1 BR 4 (2) Full 11-Jun-2010 18-Jun-2010 USD 1,579.99 
  1 BR 4 (2) Full 18-Jun-2010 25-Jun-2010 USD 1,579.99 
  1 BR 4 (2) Full 25-Jun-2010 02-Jul-2010 USD 1,579.99 
  1 BR 4 (2) Full 02-Jul-2010 09-Jul-2010 USD 1,579.99 
  1 BR 4 (2) Full 09-Jul-2010 16-Jul-2010 USD 1,579.99 
  1 BR 4 (2) Full 16-Jul-2010 23-Jul-2010 USD 1,579.99 
  1 BR 4 (2) Full 23-Jul-2010 30-Jul-2010 USD 1,579.99 
  1 BR 4 (2) Full 30-Jul-2010 06-Aug-2010 USD 1,579.99 
  1 BR 4 (2) Full 06-Aug-2010 13-Aug-2010 USD 1,579.99 
  1 BR 4 (2) Full 13-Aug-2010 20-Aug-2010 USD 1,579.99 
  1 BR 4 (2) Full 20-Aug-2010 27-Aug-2010 USD 1,579.99 
  1 BR 4 (2) Full 27-Aug-2010 03-Sep-2010 USD 1,579.99 
  1 BR 4 (2) Full 03-Sep-2010 10-Sep-2010 USD 1,579.99 

  1 BR 4 (2) Full 10-Sep-2010 17-Sep-2010 USD 999.99 
  1 BR 4 (2) Full 17-Sep-2010 24-Sep-2010 USD 999.99 
  1 BR 4 (2) Full 24-Sep-2010 01-Oct-2010 USD 999.99 

  2 BR 6 (4) Full 21-May-2010 28-May-2010 USD 1,289.99 

  2 BR 6 (4) Full 28-May-2010 04-Jun-2010 USD 1,859.99 
  2 BR 6 (4) Full 04-Jun-2010 11-Jun-2010 USD 1,859.99 
  2 BR 6 (4) Full 11-Jun-2010 18-Jun-2010 USD 1,859.99 
  2 BR 6 (4) Full 18-Jun-2010 25-Jun-2010 USD 1,859.99 
  2 BR 6 (4) Full 25-Jun-2010 02-Jul-2010 USD 1,859.99 
  2 BR 6 (4) Full 02-Jul-2010 09-Jul-2010 USD 1,859.99 
  2 BR 6 (4) Full 09-Jul-2010 16-Jul-2010 USD 1,859.99 
  2 BR 6 (4) Full 16-Jul-2010 23-Jul-2010 USD 1,859.99 
  2 BR 6 (4) Full 23-Jul-2010 30-Jul-2010 USD 1,859.99 
  2 BR 6 (4) Full 30-Jul-2010 06-Aug-2010 USD 1,859.99 
  2 BR 6 (4) Full 06-Aug-2010 13-Aug-2010 USD 1,859.99 
  2 BR 6 (4) Full 13-Aug-2010 20-Aug-2010 USD 1,859.99 
  2 BR 6 (4) Full 20-Aug-2010 27-Aug-2010 USD 1,859.99 
  2 BR 6 (4) Full 27-Aug-2010 03-Sep-2010 USD 1,859.99 
  2 BR 6 (4) Full 03-Sep-2010 10-Sep-2010 USD 1,859.99 

  2 BR 6 (4) Full 10-Sep-2010 17-Sep-2010 USD 1,289.99 
  2 BR 6 (4) Full 17-Sep-2010 24-Sep-2010 USD 1,289.99


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## Don (Apr 21, 2010)

It seems Wyndham has now closed the circle.  In the early '90's they (as Fairfield) dumped Sands Beach and Sands Ocean Clubs which are both in N. Myrtle Beach.  And now Wyndham has returned.


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## Goofyhobbie (Jun 17, 2010)

*Towers On The Grove - Update*

Note Item 3 "FROM CONDOS TO TIMESHARES" In This Write Up by Brad Berton in *Apartment Finance Today *Magazine 

Towers On The Grove is apparently a flourishing Wyndham enterprise that some Wyndham owners are taking advantage of this summer. Reservations are being offered to Wyndham Point Owners in a complicated arrangement  through the current Wyndham Reservation Number.

If you want to use Advanced Reservation Priority you have to call the normal reservaton number: 1-800-251-8736 and the Vacaion Counselor will try to connect you to a Specialist in the Owner Relations department. Only that specialist can book a reservation if you do not own at Towers On The Grove.

I went through the process to see what would be available for an ARP  reservation beginning Sunday, July 17, 2011. They had just one Unit available at 8 A. M. sharp this morning. 

The Unit was on the 19th floor. It was available as a 3-BR Ocean Front lock-out (355,000 points), or as a 2-BR Ocean Front (275,000 points) and a Studio Ocean View (135,000 points.) Nothing else was being offered for check-in on July 17, 2011.


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