Wyndham is closing a handful of legacy resorts - dedicated chart/tracker located in the first post for this unfolding set of events

[noreenkate]

Same, we have reservations there for spring break next year. I don’t know what the source is for it being added to the list is - if it’s speculation based on age and MFs, or if it was specifically mentioned by one of the people who were told specific resort names by an employee.

Here’s to hoping!

the ONLY thing it has going for it is it's proximity to Universal. And it's not like it's walking distance

I was fortunate enough to stay at the resorts within walking distance. Since I made my reservations the price has tripled per night and the perks for staying there are absolutely nonexistent and in fact are borderline absurd. Midstay during our January trip we were notified of a change in resort & parking fees being applied retroactively…I will take my chances with CW international lol if it still exists.

 

[paxsarah]

Is there a specific reason you picked that place? Was it the only place you could get for that timeframe or did you have a speific need to be somewhere near where the resort physically is? Have you stayed there before? I stayed there ONCE because it was a last minute thing I had to be in town for and it was the only place I could get (literally 3 days before my reservation started).

Location to Universal is the ONLY thing that place has going for it. It's only 2BR (not deluxe), and points for a 2BR Deluxe are the same at Cypress Palms and Star Island which have much nicer rooms, and the facilities are nicer.

Because when we do theme parks we go hard. I figure with the new gate we could easily spend 4-5 days in Universal parks, and driving time on vacation is money. I read reviews and am satisfied that it’s a perfectly fine place to crash after a busy day and a perfectly good kitchen for breakfast and snacks. I spent some time waffling between WBC and Orlando International, and location won out.

 

[dioxide45]

word i got was that this was the period at which all the employees/staff/whatnot were being informed and that is being done separately vs a public statement for them to read like the rest of the world on social media etc.

I understand them not wanting staff to read about it online in the news or on social media, but most publicly traded companies will have public statements ready for release as soon as staff is notified.

 

[TUGBrian]

can only imagine that with all the separate resorts involved (and separate associations)...all those meetings and announcements had to happen separately...likely all given some sort of deadline to which it would be publicly announced.

or they could just be winging it...who knows!

everyone I spoke to has indicated there is plenty of truth to the rumors, but noone is allowed to officially comment.

 

[Roger830]

It just seems to me like Wyndham should be able to drop the amount of CWA at a resort without closing the resort / dropping it from the system.

It's not clear to me how you would drop the amount of CWA.

It's my understanding that they obtain deeds by equity swaps when selling members points or deed backs and foreclosures.
They don't sell fixed weeks anymore so they can't reduce their exposure thru sales.

We've been staying there for over 10 years and have always thought that Wyndham was accumulating some deeds because of the underlying real estate value. CWA is a nice place to hold those deeds while members pay the holding costs.

The problem with fixed week points is there are four seasons with different cost / 1000 for each season. If the resorts come back, they would be udi and could be sold or used in CWA at higher value.

It might not happen but it's what I would prefer over losing the resorts.

 

[noreenkate]

Because when we do theme parks we go hard. I figure with the new gate we could easily spend 4-5 days in Universal parks, and driving time on vacation is money. I read reviews and am satisfied that it’s a perfectly fine place to crash after a busy day and a perfectly good kitchen for breakfast and snacks. I spent some time waffling between WBC and Orlando International, and location

Same- I am figuring drive time from WBC to be nearly 30 minutes. Kingston about 20 minutes…at least for us it’s a no brainer.

 

[HitchHiker71]

I don't know if I agree with your assessment. An official statement from corporate to the local paper about stopping operations at a specific resort at a certain date and that owners can convert to CWA would be enough for me to think this enough to make a system change. That being said, like I said before in a few posts, what do I know, I'm a civil servant, not a businessman.

There was no official statement from corporate to the local paper. Go read the article. Every statement made refers to “resort leadership” or the HOA. The statements made were from the HOA basically. We have proof of this because the simple fact is we have no statement from corporate in the news, on the website, or in any email. As @TUGBrian says, we have plenty of unofficial comments, but no official statements from Wyndham corporate as yet. The FG HOA sent an email blast out to their membership, which is what the quotes in the article are sourced from. Again, we have zero official guidance from corporate as yet.


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[Floridaman76]

...

 

[Floridaman76]

Same- I am figuring drive time from WBC to be nearly 30 minutes. Kingston about 20 minutes…at least for us it’s a no brainer.

Because when we do theme parks we go hard. I figure with the new gate we could easily spend 4-5 days in Universal parks, and driving time on vacation is money. I read reviews and am satisfied that it’s a perfectly fine place to crash after a busy day and a perfectly good kitchen for breakfast and snacks. I spent some time waffling between WBC and Orlando International, and location won out.

Ok, that's fair. I know traffic in Orlando can be a mess sometimes and coming from Cypress Palms is a little bit of a hike to Universal. It's a quick zip over to Disney though.

 

[CO skier]

Does this information have a chance to impact share price?

In a word, "No."

It will be interesting if it gets a mention in the next quarterly report conference call.

 

[Richelle]

You know what's completely bonkers? You know you're closing the resort on Dec 31, 2025. Why allow me to make a reservation for January? Why not start to block out the system so you don't have a lot of disappointed people? You made the announcement yesterday, ths system should have been blocking this out at least by yesterday, if not before.


View attachment 113007

I suggested to our contact that they offer goodwill points to owners who have their January, February, and March reservations canceled. Depending on when they are canceled, there might not be many options left to choose from to replace it. A few extra points might give them more choices out of those limited options. Who knows, maybe they will do something to make it right. I agree they should have done it by now but most likely it will be blocked off this upcoming week. That reservation will get canceled for you. If you are curious on if they will give you goodwill points, and you don't need the points right now, hold onto the reservation for a bit. Let them be the ones to cancel it.

 

[paxsarah]

Ex-salesperson Jimmy from Shawnee

Just FYI, Jimmy (who was briefly @Cass1011 here on Tug) has posted a screenshot of the list from this thread to his post in the corporate Club Wyndham Owner Group on FB - my concern being it’s not the current version that makes very clear what’s confirmed by Wyndham vs. as-yet unconfirmed, but an earlier version where it all runs together. And he doesn’t really give attribution (though tug does appear at the very bottom of the screenshot if someone looks closely), so it could be read as coming from Wyndham. Frustrating.

 

[HitchHiker71]

If it's been planned well in advance, I would have fully expected public statements (official) to have been at hand ready to drop. If they knew what was happening, why not have that stuff ready already?

There are very likely legal ramifications in play that need to be taken into account. Yes one could argue it’s not going well, and I would likely agree, but any public statements need to be vetted to ensure Wyndham follows the law. We were told we would have an official statement on Friday, but obviously that wasn’t the case, which is why I said sometime next week, as I knew there would be delays from legal and other reviewers/approvers given the sensitivities involved here.

From what I have been able to gather backchannel, Wyndham didn’t plan to make public statements this soon, this step was planned after the HOA processes were beyond a certain point. I think in today’s world of social media and instant communications that can be anonymous or masked easily, this was somewhat naive, but hindsight is always 20/20.


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[HitchHiker71]

Same, we have reservations there for spring break next year. I don’t know what the source is for it being added to the list is - if it’s speculation based on age and MFs, or if it was specifically mentioned by one of the people who were told specific resort names by an employee.

The latter.


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[HitchHiker71]

The voice of reason. WTF?

If you are trying to make a point, it is lost on me.


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[HitchHiker71]

word i got was that this was the period at which all the employees/staff/whatnot were being informed and that is being done separately vs a public statement for them to read like the rest of the world on social media etc.

- though you would think someone would have had the good sense to realize that leaks occur almost 100% of the time whenever people are told they may be losing their jobs in less than six months, especially if NDAs weren’t signed along with a bonus program of sorts for the impacted employees to stay until the very end. Even then, leaks happen, almost universally. This wasn’t well thought out with this in mind.


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[CO skier]

Earlier today I was thinking, “It is such a nice summer weekend, why not spend it in the mountains.” But where …? Perhaps a soak in the waters of the deepest hot spring in the world? Stay overnight on Bonus Time, and take an excursion to see “Whatever became of Mountain Meadows.”

Driving into the parking lot was like rolling into an episode of the Twilight Zone. Nice enough views when it is redeveloped as condos, but I got out of there before I found myself back in 1989.

This is definitely not to imply that this will be the path for any resorts listed in this thread. It is just to confirm that, with enough votes, Wyndham *can* close a resort. In this case it does not matter. MM is a small HOA. Who knows when an eventual sale might happen? I did not see a "For Sale" sign.

The other 7 HOAs are still fully functional and recently refurbished with lots of availability. The temperature was a very pleasant 80 degrees F.

 

[HitchHiker71]

Just FYI, Jimmy (who was briefly @Cass1011 here on Tug) has posted a screenshot of the list from this thread to his post in the corporate Club Wyndham Owner Group on FB - my concern being it’s not the current version that makes very clear what’s confirmed by Wyndham vs. as-yet unconfirmed, but an earlier version where it all runs together. And he doesn’t really give attribution (though tug does appear at the very bottom of the screenshot if someone looks closely), so it could be read as coming from Wyndham. Frustrating.

Would it help if I converted the OP list to a table format with a column to track CONFIRMED/UNCONFIRMED? Along with columns for other pertinent details?


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[Richelle]

Would it help if I converted the OP list to a table format with a column to track CONFIRMED/UNCONFIRMED? Along with columns for other pertinent details?


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The screenshot he is spreading around cuts off the word "Possible" I feel like he would just continue using that screenshot, but it wouldn't hurt to reformat it. For now, since there is only one confirmed resort, I would remove Fairfield Glade from the list of possible. No need to mix the two in the same list. Make it separate from that list so it's clear they are not the same.

 

[Fido Chuckwagon]

If it's been planned well in advance, I would have fully expected public statements (official) to have been at hand ready to drop. If they knew what was happening, why not have that stuff ready already?

This whole thing is shady as hell. These aren’t hotels that Wyndham owns that they are closing. These are timeshares run by (theoretically) independent HOA’s that Wyndham just serves as the management company for. Yes, Wyndham has probably acquired a majority interest in all of these HOA’s, but the fact that they planned this all behind closed doors, without alerting other owners, and are suddenly pulling the rug out from under the other owners is pretty bad. It does make me wonder if they’ve got financial difficulties we aren’t aware of.

 

[hvsteve1]

It is happening. https://www.crossville-chronicle.co...cle_a748ba2a-1f72-476e-b0a3-be55354548e0.html

 

[Fido Chuckwagon]

Yeah, it seems strange for a publicly traded company. Does this information have a chance to impact share price? Is there a risk that employees with certain knowledge are trading based on this information?

This is why I wonder if something else is going on. The earnings report will be interesting. Maybe sales/profits have cratered and they needed to do something fast to stop the bleeding.

 

[dioxide45]

In a word, "No."

It will be interesting if it gets a mention in the next quarterly report conference call.

But resorts generate revenue for Travel + Leisure through management fees and other income. Revenue is a big driver of share price.

 

[dioxide45]

It is happening. https://www.crossville-chronicle.co...cle_a748ba2a-1f72-476e-b0a3-be55354548e0.html

This isn't new. It was reported in post #110 yesterday.

 

[CO skier]

But resorts generate revenue for Travel + Leisure through management fees and other income. Revenue is a big driver of share price.

The real timeshare revenue is in sales. That is what the 10k reports and conference calls focus on.

Timeshare management fees are hardly pocket change.