I’m a long time owner at Roark and have only stayed there about three or four time, mostly been trading. I know a new management company has taken over but other than that haven’t heard much from them. Their web site hasn’t been updated since 2015. Anyone know what’s happening there with the new management (think maybe it’s Summerwinds or something like that)?
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Roark Resort Branson Missouri
- Thread starter BigRedOne
- Start date
I was expecting this special assessment, just didn't know when. Actually stayed at Roark a couple of summers ago, which was shortly after the new management company, and they had already discovered the structural damage. Roark has been sold out since at least the mid 90's so I am fairly certain that most, if not all, owners are older and either retired or ready to retire; most of these owners either can't afford, or even want to spend more money on a TS.
So what re we to do? Regardless of the management companies plans there are other options. The resort is in a prime downtown location and can be sold. As deeded owners we could all benefit as we could probably recoup some or all of our initial investment. Of course then the management company wouldn't be able to soak everyone for more fees or try and get everyone to either switch over to Summer Winds. There's no incentive for the management company this way as they would loose out on a lot of $$$$.
I'm thinking we, as owners, need to retain a class action law firm to handle this. Anyone out there know how to do this or how to find a law firm?
I am speaking with an attorney on Thursday. He is in the Branson area. Will post after I hear what he has to say. Do we have an HOA? Who are the Board of Directors? I am ashamed to say I don't know. I have owned for 33 years, but never paid much attention I am sorry to say now!
I totally agree that there are other options. I really don't like the three options offered. #3 really irritated me. So, did they get more than one bid? What is the structural damage? 12 million dollars sounds like they are going to gut it and rebuild. I want to see the reports on this.
I had a casual conversation with one of the maintenance people when I last stayed there the summer before last and the issue is with the external stair cases needing new steel and some roofing issues, nothing that should be this amount of money.
I attended what they termed was an informational meeting which was really a high-pressure sales pitch to get me to trade my Roark week for Summer Winds points. First of all, I don't like points and they really wanted an exorbitant amount of money. My daughter just happened to have a tour of Summer Winds the same day and they tried to sell her the same deal at the same price as what they offered me except mine included trading in my Roark week. What a bunch of shady people that took over the management. I filed a complaint with the Missouri Attorney General's office but it wasn’t a headline maker for them and they weren't interested.
I want to wait til I talk to the attorney before contacting the number listed. I am definitely asking for the reports and financial statements. I have loved this timeshare. Like you, I have only stayed at Roark one time in the 30+ years I have owned as I have used it to exchange. However, as we are getting older, my husband and I planned to use our week every year at Roark. I don't want to lose this investment, but certainly don't want to fork out $8200. That's more than what I paid for the timeshare originally (approx $5k). And....what guarantees do we have that they will spend the money at Roark? I have read that some of these companies use the funds from special assessments to fund purchasing other resorts. I certainly think the funds could be phased in too if $12 million is really necessary and I don't believe that it is. We definitely need to know what our options are (and not just the ones they gave us). I will let you know what I find out.
Here is the letter I sent to the AG's office.
Great letter! Do you ever remember voting on a Board of Directors? I sure don't. I haven't read through the contract yet (yes, I still have it!!), but I intend to find out if special assessments are even allowed in the contract. I'm sure they are, but you never know til you look! While researching this, I did come across a post on another site about a couple that had been assessed a special assessment and it was not in their contract. I have owned about as long as you and I don't remember getting an updated terms to the contract. Do you??
Sorry to say, but I don’t have my original contract but special assessments are most likely allowed. I know there’s an owner’s association but I am not sure what powers they actually have. I think most of the decision making was done by the original developer, Gary Snaden, who has passed away. Snaden was a respectable man whom looked out for the best interest of the owners, unlike most other developers. I know his son took over but apparently mis-managed the day-to-day operations and never kept up with maintenance. Summer winds did have a meeting that everyone was invited to attend in December or you could have joined it using an Internet link they provided but as far as I know we didn’t have any voting powers. I had planned to join via the Internet but got scheduled for an overtime shift where I worke. I have never been offered to vote on anything either in person or by proxy. (probably should have removed my name from the letter that I posted, but oh well and I'm not ashamed of contacting the AG's office)
SoCalWino
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- Roark, Branson Mo. & Swan Mtn, Dillon, CO.
Count me in on any legal opposition to this! This is a total money grab and we should push back, what exactly was our maintenance fees going to all this time? I would not be surprised if the Architecture/construction firm that made these estimates is somehow connected to the Capital group or a board member. I would think there would have to be a formal owners vote (for all owners) for this type of special assessment, not just the board of directors.
We're owners at Roark as well. Would be curious to hear what you found out about our options. None of the options provided are all that attractive and they certainly have provided no details / information beyond the very minimal letter. Options 2 and 3 involve legal changes to our deeded ownership although they provide no documents about what we are agreeing to...
By now everyone should have received the "Notice Of Annual Meeting Of The Membership Roark Relaxation Club Properrty Owners Association, Inc." As luck would have it I am unavailable till later in January and cant'n make this meeting. I hope there's good attendance so us members can do some pushback and come up with other optioins. I would be in favor of forcing the sale of the property as it is in a very desireable location in downtown Branson.
Anyone know what powers the association actually has? It still may come down to finding a class action law firm to fight this for us. Any way we look at it, it will be a win for Summerwinds and a loss for the owners. If we could somehow force a sale then we might at least recoup some of our money and Summerwinds would be left with either having to buy the property from us or end up with nothing except the weeks they snookered owners into trading for thier points.
Anyone know what powers the association actually has? It still may come down to finding a class action law firm to fight this for us. Any way we look at it, it will be a win for Summerwinds and a loss for the owners. If we could somehow force a sale then we might at least recoup some of our money and Summerwinds would be left with either having to buy the property from us or end up with nothing except the weeks they snookered owners into trading for thier points.
Bumfoozeled
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I’d like to get in on this as also an old time Roark owner( yet new to this site.) We are also pissed at lack of communication on this from Summer.Winds or Capital. Hate the choices and how we were told do it now (middle of Dec). We also own at Surrey where Capital has wreaked havoc trying to run the resort, tricking people to change to Capital then wanting to run the resort with their board of directors Surrey took them to court as their board is actually run by owners—pretty sure Roark doesn’t work like that. The Capital rep said they’re sending out a new letter changing mtg to Feb but no sight of it. Anyone else seen it? It may be a trick so no one shows up My husband said we couldn’t go in anyway since we’ve delayed doing anything so we’re not members in good standing. But we could raise hell outside. ( We’ve never been late with our maintenance). I thought if we came down, we would talk with Surrey about the lawsuits progress. Wish I knew what to do. You should not trust Capital. If you decide to sight something, have a lawyer look it over first
Bumfoozeled
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Big Ine Red, I replayed on Roark but may have typed it in wrong space. Hope you see it. Bumfoozeled
SoCalWino
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Posted this in another thread: So, I called Roark (Capital Vaca) yesterday and learned that we should be receiving another letter with different options. He didn't go thru all the options, but did say the relinquishing option will now only be the 2020 fees (plus a $150 processing fee). So, it sounds like they may have gotten a lot of push back and have changed their story, which should be better (hopefully) for everyone. Again, take this with a grain of salt, until I see this actual letter I tend not to believe anything they say, but at least it may be a bit better.
bogey21
TUG Member
My gut instinct when offered deals like this is to take the deal and be done with it if the deal is anywhere near reasonable. 2020 fees + $150 sounds reasonable to me...
George
George
I agree, if this is indeed true this would be the cheapest way out, especially since I have already paid my 2020 maintenance fees.
Since I am retireing after this month, however, I had planned on spending every summer at Roark. But for the price of maintenance fees I could rent somewhere along lake Tanycomo and go trout fishing whenever I want and not be tied down to the middle of the summer.
Looks like pay the money and run time!
chad.burrus
TUG Member
We have already paid 2020 and 2021 and traded our weeks into RCI last fall. I'm in the same camp of pay the $150 and run, but I wonder what happens with our 2021 week since we already traded it. Will we have to stay with them or can they take the RCI week back?