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

[comicbookman]

I doubt that the higher level executives understand the ramifications to the points and reservations system being caused by their actions and those below them just do as told.

We here are aware of the two points systems, udi and converted fixed weeks.

The 2025 mf for udi points is paid monthly throughout 2025. Udi owners have no claim to 2026 points or reservations made with those points if their underlying resort is removed from the system in 2025.

Deeded fixed week owners pay their mf after the 2026 budget is approved near the end of 2025.

Converted fixed week owner's pay for their 2026 mf monthly during 2025. Because the budget has not been done yet, the mf also has an estimated increase added over the 2025 rate.
So the bottom line is converted fixed week owners have a right to 2026 points or should get a mf refund for payments made.

does cwa pay ahead like fixed weeks or monthly like udi?

 

[comicbookman]

UDI are paid during the year of use, based on budgeted fees. Converted weeks are paid during the year prior to use, based on estimated fees.


There are several different assoications at Glade. It is possible that not all of them are being withdrawn.

How are cwa paid?

 

[comicbookman]

Does anyone own FG that can share the full text of the email from the association?
"The community club released a written statement provided by Club Wyndham to its membership via e-blast. "

I own there and have not received any e-mail on this subject. and yes I routinely check my junk mail folder.

 

[dioxide45]

are you adding maintenance fee + reserve fund + property taxes? cause that comes to $9.87

Are you referring to FG? If you look at post #410, it is $682.32 + $285.72 + $8.18. That is $976.22. Based on 154,000 points it works out to $6.33/1000.

 

[Jan M.]

It would seem that FG is a given based on the text of that email. As for other, or any of the resorts, if it isn't a sure thing, why say they are shutting down timeshare operations at all. If there hasn't even been a vote and it isn't a sure thing, isn't the proper announcement to be that they plan to hold a vote later this year to cease the timeshare? It seems they are putting the cart before the horse.

The problem they have now with many of the resorts is losing staff before the end of the year. People aren't just going to wait around for their job to end unless they are offered some kind of severance or retention bonus.

It just seems like they made a mess of the process. Initial discussions should have been had with the BOD at each resort. That they planned to hold a vote to end the timeshares let the votes happen then wind down the resorts if that is the path that is approved. But to come out tell staff now just doesn't make sense. Especially if nothing is a sure thing.

I could be wrong about this but I'm under the impression that as administrators of the Trust Wyndham can drop a resort from the system. This wouldn't require the involvement of the resort BOD or voting by the owners. What happens afterwards would. Like continue as a stand alone timeshare resort, of which there are many in RCI. Join another timeshare group. Cease as a timeshare resort and sell to a developer.

This isn't an unprecedented move. There's a thread in the HIVC forum about the resorts it was recently announced are being dropped from their system. From what owners posted the resorts being dropped are some HIVC acquired when they bought out Silverleaf.

We'd expect that the decision for each resort should/would be for justifiable reasons. For some purported resorts the supposed justifications do seem questionable.

I'm not familiar with what the rules are for getting unemployment. By telling the employees this far in advance does that get Wyndham out of having to pay unemployment? The sales staff and concierge people aren't necessary to the operation of a resort. Housekeeping and security are provided by contractors and aren't Wyndham employees. The essential Wyndham employees are the managers, front desk workers, and maintenance people.

It seems like some resorts no longer have the front desk open 24 hours. Most resorts have increased occupancy over Thanksgiving and Christmas. It will be interesting to see what their experiences are. Will standards be maintained until the last day? How much do people who are losing the jobs typically care towards the end?

 

[comicbookman]

What section do you own in FFG? Every resale listing I see for FFG has high fees. Is there a certain section that has lower fees then others, or are they all the same HOA?

Fairfield is above$9 and has been for a couple of years

 

[Arimaas]

Fairfield is above$9 and has been for a couple of years

See post 410. My converted fixed week is $6.34/k

 

[comicbookman]

We stay two nights. On the southbound trip, we frequently don't get away from home early enough to arrive before midnight. Leaving that morning wouldn't be much of a break. We're better getting away from where ever we're staying on the return, mostly because we have to be out by 10 AM and partly because we don't have to decide what to take. It all goes in the car!

Truth be known, we're rarely in much of a hurry! I don't mind stops in the Myrtle Beach area except that is is two more hours on the road each way.

we do this as well. Edisto also works pretty well for this, although it is further off 95, it doesn't add much time to the drive.

 

[comicbookman]

See post 410. My converted fixed week is $6.34/k

then it is a unicorn. In the Wyndham system Unicorns do exist due to conversion errors at the time the fixed week was converted. But of course they are rare.

 

[Arimaas]

then it is a unicorn.

There’s a few of us around and another one on TUG. So probably more like a reindeer then a unicorn.

 

[Richelle]

I just pulled the deed. Closed May of 2018. I own week 31, unit 5915, condo number 2 in Wellington Place Condominiums. I've never been there, I just bought it for the low MFs.

Here's the info from the estoppel dated December 2017.

View attachment 113059

Thank you for sharing. Good info to have. At least for now.

 

[Roger830]

does cwa pay ahead like fixed weeks or monthly like udi?

I would think that the fixed week deeds in CWA are paying for the following year like members. There's no need for CWA to pay ahead.

btw, The mf for my fixed week at Sea Gardens Ocean Palms actually went down this year by a significant amount.

 

[comicbookman]

I would think that the fixed week deeds in CWA are pay for the following year like members. There's no need for CWA to pay ahead.

btw, The mf for my fixed week at Sea Gardens Ocean Palms actually went down this year by a significant amount.

fixed weeks pay ahead.

 

[Richelle]

It would seem that FG is a given based on the text of that email. As for other, or any of the resorts, if it isn't a sure thing, why say they are shutting down timeshare operations at all. If there hasn't even been a vote and it isn't a sure thing, isn't the proper announcement to be that they plan to hold a vote later this year to cease the timeshare? It seems they are putting the cart before the horse.

The problem they have now with many of the resorts is losing staff before the end of the year. People aren't just going to wait around for their job to end unless they are offered some kind of severance or retention bonus.

It just seems like they made a mess of the process. Initial discussions should have been had with the BOD at each resort. That they planned to hold a vote to end the timeshares let the votes happen then wind down the resorts if that is the path that is approved. But to come out tell staff now just doesn't make sense. Especially if nothing is a sure thing.

I think the idea behind telling employees now, is to give them time to plan. The problem is, it ended up on social media because people overheard the conversation being had with employees. Mistake #1 was not having that conversation behind closed doors, away from listening ears. Mistake #2 was not telling the HOA to hold off on announcing it to the residents in Fairfield Glade. Now employees at resorts are talking. Social media and that article changed their game plan. Their intent was to hold off making it public until around September. Now they have to come up with an alternate plan. What's done is done. Now we have to wait to see how they handle it from here.

As far as employees not hanging around toward the end unless there is some sort of bonus, I would think there is some sort of reward for sticking it out until the end. I don't have any proof or hearsay to back that up, but it would be standard practice to do that. Otherwise, as you said, they would up and leave at their first chance.

 

[dioxide45]

I could be wrong about this but I'm under the impression that as administrators of the Trust Wyndham can drop a resort from the system. This wouldn't require the involvement of the resort BOD or voting by the owners. What happens afterwards would. Like continue as a stand alone timeshare resort, of which there are many in RCI. Join another timeshare group. Cease as a timeshare resort and sell to a developer.

This isn't an unprecedented move. There's a thread in the HIVC forum about the resorts it was recently announced are being dropped from their system. From what owners posted the resorts being dropped are some HIVC acquired when they bought out Silverleaf.

We'd expect that the decision for each resort should/would be for justifiable reasons. For some purported resorts the supposed justifications do seem questionable.

I'm not familiar with what the rules are for getting unemployment. By telling the employees this far in advance does that get Wyndham out of having to pay unemployment? The sales staff and concierge people aren't necessary to the operation of a resort. Housekeeping and security are provided by contractors and aren't Wyndham employees. The essential Wyndham employees are the managers, front desk workers, and maintenance people.

It seems like some resorts no longer have the front desk open 24 hours. Most resorts have increased occupancy over Thanksgiving and Christmas. It will be interesting to see what their experiences are. Will standards be maintained until the last day? How much do people who are losing the jobs typically care towards the end?

If Club Wyndham or CWA owns a lot of the unit weeks, I think dropping it from the club is a lot messier than closing them down. Perhaps they can find a buyer for all those weeks but if they don't they are still on the hook. Would another timeshare entity step forward to buy all the inventory from them? Maybe, maybe not. Also, if CWA sells inventory, who gets the proceeds from that. Does it just go in to cover the trust expenses?

Even if they close them down, is there a market for a lot of these properties or condos? Perhaps in some locations, but not in others. As someone else mentioned, having a whole bunch of whole ownership condos flood the market isn't the best for the local housing market in terms of resale values. It will be interesting to see how this all plays out.

As for unemployment, I don't see how they would avoid that. Advance notice does't stop it and even if they pay out severance, unemployment would likely kick in after that runs out. They pay into the unemployment insurance system in the states the operate, so I don't see why they would worry about that. The main issue will be staffing as resorts wind down. Employees want stability and often enough, severance or retention bonuses aren't always enough. I've been through that as a manager in the past. People will leave regardless of what might be promised in order to have stable employment.

 

[dioxide45]

I think the idea behind telling employees now, is to give them time to plan. The problem is, it ended up on social media because people overheard the conversation being had with employees. Mistake #1 was not having that conversation behind closed doors, away from listening ears. Mistake #2 was not telling the HOA to hold off on announcing it to the residents in Fairfield Glade. Now employees at resorts are talking. Social media and that article changed their game plan. Their intent was to hold off making it public until around September. Now they have to come up with an alternate plan. What's done is done. Now we have to wait to see how they handle it from here.

As far as employees not hanging around toward the end unless there is some sort of bonus, I would think there is some sort of reward for sticking it out until the end. I don't have any proof or hearsay to back that up, but it would be standard practice to do that. Otherwise, as you said, they would up and leave at their first chance.

Even if they had conversations behind closed doors, word would have spread. Some how, some way. It always does. Their main problem was not really having a well thought out plan. Not unexpected for a mid tier company like Travel + Leisure.

 

[paxsarah]

I think the idea behind telling employees now, is to give them time to plan. The problem is, it ended up on social media because people overheard the conversation being had with employees. Mistake #1 was not having that conversation behind closed doors, away from listening ears.

I think it was employees talking directly to outside people, not overheard conversations. The Bentley Brook couple (the first post I saw about it in FB) learned it from an employee friend who told them. “Hugh” from Fairfield Glade seems to be a Crossville local and maybe former employee who obviously talked to employees. And Jimmy is a former Shawnee salesperson who talked to folks he still knows at that resort. So mistake #1 was not assuming it would get leaked immediately.

 

[TUGBrian]

@TUGBrian

445 posts in three days and six hours. Is that any kind of a record?

certainly a hot topic!

wonder if it has the potential to topple the fairmont/sunchaser thread with 6000 posts and 2m views!

 

[TravelJoy]

whew, the facebook posts are running wild with that "list"

Did someone post the fb page

 

[CO skier]

I'm not familiar with what the rules are for getting unemployment.

Obviously.

But why not go ahead and suggest a completely baseless, nefarious conspiracy on Wyndham's part?

By telling the employees this far in advance does that get Wyndham out of having to pay unemployment?

Employers pay federal and state unemployment taxes. The states pay unemployment benefits. There is zero connection with when an employee may be informed of a potential future layoff, and their eligibility for unemployment benefits.

 

[CO skier]

certainly a hot topic!

wonder if it has the potential to topple the fairmond/sunchaser thread with 6000 posts and 2m views!

Oh, just wait until the official announcement comes out. The first 500 posts in this thread will be just the "introduction."

 

[CO skier]

"In 10 minutes"

Never seen that before. Is it reading my mind? Did I enter the Twilight Zone and am posting from the future?

 

[CO skier]

fixed weeks pay ahead.

Good point. Wyndham would "pay ahead" for fixed weeks in CWA. That may explain why they ceased accepting fixed weeks (or maybe never did) through Ovations and Certified Exit.

Then again, some resorts are composed of only fixed weeks. How could they get "the votes in the bag" if they did not accept fixed weeks?

 

[CO skier]

Mistake #1 was not having that conversation behind closed doors, away from listening ears. Mistake #2 was not telling the HOA to hold off on announcing it to the residents in Fairfield Glade.

NO! While this information does not (likely) fall under the SEC Fair Disclosure regulations, the mistake here is that Wyndham did not handle the disclosure in a semi-SEC regulation manner where "everyone" knows "everything" at (about) the same time.

Sure, respect the feelings of the affected employees by simultaneously informing all of them of the "resort closings" (maybe a few hours, at most, ahead of the entire Club Wyndham ownership and the rest of the world).

"telling the HOA to hold off on announcing it to the residents in Fairfield Glade" (or suggesting/prohibiting ANY disclosure) or swearing the affected employees to secrecy beyond a few hours until an official announcement is just plain WRONG!

 

[dioxide45]

NO! While this information does not (likely) fall under the SEC Fair Disclosure regulations,

If they weren't planning any kind of public announcement until September, I now doubt we will hear anything about this on the upcoming earnings call. There is still a chance they say something or perhaps an investor who got wind of it brings it up during the Q&A section of the call. We shall see.