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

[dioxide45]

Just got the slide decks from the Glade Stone castle HOA meeting. This includes the agenda and a couple of HOA slides, the law firm (K&L) presentation and the real estate firm (Hilco) presentation. These are just the slides, no narration or Q&A. See attachment.

Edit to add: the Hilco slides do not contain the $10 million sale price estimate. That was presented in answer to a verbal question.

Great information! Something I notice, they indicate 467 units total but based on footnotes in what has been provided to owners so far, it only accounts for 246.

Lauren Ridge: ?
Oak Knoll: 116
Wellington: 72
Stone Castle: 28
Nottingham Villas: 30

Does that mean Laurel Ridge has 221 or are there other associations that are not accounted for yet?

 

[Twenty20]

Wyndham Rep confirmed on the meeting, if you have points that have been deposited into future use years, and you are exiting Club Wyndham entirely (not doing CWA swap) that those points are going to be forfeited, contrary to what was said on this thread several weeks back. So even though you might have paid MFs, Wyndham is going to give you one last screw job on the way out the door.

Were some very livid owners on our call, and a smirking, smug Wyndham Rep.

What a horrible company.

 

[Colonial#1]

Yes, Crestview is included in these actions - Wyndham is exiting Shawnee in entirety.

Thanks... Crestview in the Shawnee Resort is the "high end and newre units"... Years ago we were on a sales "show" and these were beautiful... Very top of the mountain and a mile from civilazation... Fairway Village is located near the Shawnee Inn... very secluded and beautifully maintained. We drove thru yesterday.

 

[Rolltydr]

The whole thing is first world problems, doesn't mean they aren't problems. And no, plenty of people who aren't on TUG just found out within the last few weeks (you know end of September, early October) that their New Years plans are no more. I don't know why you feel the need to belittle and make snarky comments when it's something you disagree with.

Maybe because you’re ignoring reality. When, based on the facts as we know them, not on the speculation posted in this thread or on facebook, much of which has been disproven already, do you think Wyndham should have announced this? I am willing to bet you have no idea. You have opinions about what they have done and when they have done it, but you can’t give any specific dates or timeframes as to what or when they should have done anything differently. Prove me wrong with facts!

 

[Rolltydr]

Wyndham can do whatever they want, carte blanche. Though they still have to go through the courts and the courts will at least help ensure that every owner is compensated for their ownership.

The last sentence completely contradicts the frst.

 

[Tcrawford2042]

Great information! Something I notice, they indicate 467 units total but based on footnotes in what has been provided to owners so far, it only accounts for 216.

Lauren Ridge: ?
Oak Knoll: 116
Wellington: 72
Stone Castle: 28

Does that mean Laurel Ridge has 251 or are there other associations that are not accounted for yet?
View attachment 116930

I was just on the zoom call for Oak Knoll, and I think they said there were 8 total HOAs at Fairfield Glade. We own at 1 that isn’t on the list, Glade at Nottinghamm Villas. According to the letter for that one, it has 15 buildings, 30 units. I’m not sure about the other 3.

 

[HitchHiker71]

Thanks... Crestview in the Shawnee Resort is the "high end and newre units"... Years ago we were on a sales "show" and these were beautiful... Very top of the mountain and a mile from civilazation... Fairway Village is located near the Shawnee Inn... very secluded and beautifully maintained. We drove thru yesterday.

Not to nit-pick but Crestview is not at the summit. There's a subset of the older Ridge Top units called "Ridge Top Summit" that are just up the same road at a higher elevation than the Crestview units. So Crestview is close to the summit but not quite there. Crestview were the only units in the entire resort that were actually built by Wyndham not long after they acquired this resort. We've stayed in every section at Wyndham Shawnee over the years since it's only two hours away from where we live. We probably stayed at Wyndham Shawnee an average of 5-6 times per year for weekend getaways - particularly in the spring and fall seasons. This spot, while older, will be missed. We will continue to go to the Poconos - just via RCI most likely after end of year.

 

[dioxide45]

The last sentence completely contradicts the frst.

I should have been more clear. The first part is prior to the bankruptcy, the second sentence is after.

Edited to add: This actually seems very evident for those properties, KBV which is outside this discussion and one other, that the purpose of the HOA to accept deeds from owners is so Wyndham can move what they own to the HOA. So far, evidence suggests, that individual deeded owners aren't getting the same privilege.

 

[dioxide45]

Wyndham Rep confirmed on the meeting, if you have points that have been deposited into future use years, and you are exiting Club Wyndham entirely (not doing CWA swap) that those points are going to be forfeited, contrary to what was said on this thread several weeks back. So even though you might have paid MFs, Wyndham is going to give you one last screw job on the way out the door.

Were some very livid owners on our call, and a smirking, smug Wyndham Rep.

What a horrible company.

Based on what is coming out of the communications to owners and resulting votes, owners are going to be refunded their 2026 fees. There is no screw over job with this one. The bigger question is what happens if an owner already has a reservation for 2026 using 2026 points. I suspect they will cancel their reservation. What about people that have borrowed 2026 points for a 2025 reservation?

 

[chapjim]

You state that each HOA is responsible for making decisions and not Wyndham which I respectfully disagree with for two reason. One is that there usually is no difference between the HOA and resort management being the same, Wyndham. Two, an interesting point is that if and when Chapter 11 is approved resort management i.e. Wyndham is " the debtor in possession " and will most likely control finances and budgets. Remember the reserve funds will apparently be transferred to general operating expense giving carte blanche control to Wyndham. Do owners feel comfortable with that considering the keeping in the dark syndrome we are experiencing now? Also, the simple fact is we don't know how much the legal expenses and other planned expenses including management fees will be. Has anyone seen their resorts financial statements and audits recently? The budget information owners get each year is worth little in determining financial position.

Wyndham's actions will be subject to the oversight of a bankruptcy judge.

 

[Arimaas]

Maybe because you’re ignoring reality. When, based on the facts as we know them, not on the speculation posted in this thread or on facebook, much of which has been disproven already, do you think Wyndham should have announced this? I am willing to bet you have no idea. You have opinions about what they have done and when they have done it, but you can’t give any specific dates or timeframes as to what or when they should have done anything differently. Prove me wrong with facts!

None of us can prove anything with facts! None of us are privy to anything Wyndham is doing. That's the point. Of course this is all my opinion. Duh! However, it is an informed opinion.

And yes, I think Wyndham should have announced this. That's what I have been saying in every post I made. If you weren't too busy fighting me on everything I say (and accusing me of calling someone a liar and shell), you would see that. And I thought that I made it patently obvious that these are my opinions, not facts, since I (like you) are not privy to any of this.

Some examples they could have done: set up a customer service line, post more information on line, taken steps to mitigate all the misinformation out there instead of cryptically speaking to a moderator on this board and have him post it for the 1% of their customers that are on this board, taken steps to mitigate angry people who are losing points rolled over to other years (see post 3127). among other things.

I couldn't tell you about the timing, but I would have at the minimum had it in place as soon as I could have after the news broke in July.

 

[HitchHiker71]

Wyndham Rep confirmed on the meeting, if you have points that have been deposited into future use years, and you are exiting Club Wyndham entirely (not doing CWA swap) that those points are going to be forfeited, contrary to what was said on this thread several weeks back. So even though you might have paid MFs, Wyndham is going to give you one last screw job on the way out the door.

Were some very livid owners on our call, and a smirking, smug Wyndham Rep.

What a horrible company.

I'll validate this on today's bi-weekly call with Wyndham. It's not surprising really, given the account is being closed out if this subset of owners doesn't own any other contracts with Wyndham. Were they to hand in their ownership via CE (assuming it's eligible) I believe this is the same expected outcome. If folks want to keep their existing future reservations then they would simply accept the CWA conversion, then exit via CE at a later time if they no longer wish to be Club Wyndham members - assuming eligibility at that future date.

 

[paxsarah]

OMG! This is the true definition of a first world problem. A few people only found out 4-5 months in advance that they need to change their New Years Eve party reservations.

A few people have not yet found out yet, in mid-October, that they need to change their New Years reservations.

It’s not like we haven’t already discussed the fact that the vast majority of the ownership base is not as terminally online as we are on TUG and has no reason to know any of this is going on.

 

[Arimaas]

I

Based on what is coming out of the communications to owners and resulting votes, owners are going to be refunded their 2026 fees. There is no screw over job with this one. The bigger question is what happens if an owner already has a reservation for 2026 using 2026 points. I suspect they will cancel their reservation.

I sure hope not. Add that to the list of "my opinions" of what Wydham should be doing. I have reservations with my 2026 points in February for Mardi Gras in New Orleans. I guess it's just first world problems, but I won't find out what will happen to them until 3-5 weeks before.

 

[Colonial#1]

We got our fixed week in Shawnee toward the end of the timeshare craze. Shawnee was still very desirable then and you could even exchange "mud weeks" for other properties. But the whole exchange-your-week model is long gone. Probably why Wyndham shifted to a "points" model. But the cost of buying into Wyndham points was way too expensive for existing fixed week owners so I guess that's where we are still around.

Agree... We're at Shawnee now... tonight will be last night we will sleep in one of our units. Never fully understood the game. Thought that I owned and didn't care
to travel. Thought that I had leverage and really don't. Like the little home that refused to sell to mega realestate and ended up with giant condo towers
on all sides.

 

[dioxide45]

I'll validate this on today's bi-weekly call with Wyndham. It's not surprising really, given the account is being closed out if this subset of owners doesn't owner anywhere else. Were they to hand in their ownership via CE (assuming it's eligible) I believe this is the same expected outcome. If folks want to keep their existing future reservations then they would simply accept the CWA conversion, then exit via CE at a later time if they no longer wish to be Club Wyndham members - assuming eligibility at that future date.

I would hope, and suspect, that communications to owners about the CWA swap will include this type of information. If they don't take the swap, 2026 reservations may be cancelled. Taking the swap keeps those reservations in tact. Things get messy when people have more than one points ownership as Wyndham doesn't seem to track points to a contract.

 

[Arimaas]

I would hope, and suspect, that communications to owners about the CWA swap will include this type of information. If they don't take the swap, 2026 reservations may be cancelled. Taking the swap keeps those reservations in tact. Things get messy when people have more than one points ownership as Wyndham doesn't seem to track points to a contract.

Yes. I have 154K Fairfield Glade, 126K CWA and 231K Kingsgate. Now, other than if I used ARP from one of those, how are they going to tell what bucket my 2026 reservations came from? I just booked Myrtle Beach in June for 220k points. Did it pull the points from all of Glade and some of Kingsgate. All of Kingsgate? Who knows. Should it be my problem to mitigate? I guess as long as I have 154K points in my account for 2026 on January 1, those can go poof and the reservations can stay in place. Again, all stuff we don't know, in mid-October!

Like I said, canceling out the reservations leads to a whole host of other legal issues, such as a potential class action. I'd have to read the contract and language to see what folks remedy is, but I do think this leads to some liability. Nothing their white shoe law firm and in house counsel didn't think of, probably. However, still an issue.

 

[paxsarah]

I'll validate this on today's bi-weekly call with Wyndham. It's not surprising really, given the account is being closed out if this subset of owners doesn't own any other contracts with Wyndham. Were they to hand in their ownership via CE (assuming it's eligible) I believe this is the same expected outcome. If folks want to keep their existing future reservations then they would simply accept the CWA conversion, then exit via CE at a later time if they no longer wish to be Club Wyndham members - assuming eligibility at that future date.

I agree - it’s unfortunate, but I wouldn’t expect Wyndham to manually hold open an account for an owner who’s otherwise closing out their account with a resort sale, just because they have points deposited from a previous year.

Another option I think could work is to deposit that number of points from the future year into RCI and confirm an exchange with them before the end of the year.

 

[jp10558]

As far as I can tell, the HOA is in fact independent from T&L/Wyndham but current conditions have driven them closer together. While it seems strange that so many of the letters people have shared from different resorts around Wyndham world are almost identical, that may be a reflection of the realities facing these kinds of properties.

The ability to buy, sell, rent, or swap timeshare assets (weeks/points/etc) over the internet has changed this game forever. If you look at Airbnb for comparison's sake, that company takes a small cut of every transaction. Wyndham can't survive on that model and they don't get ANY cut when people trade on the internet.

This doesn't make any sense to me. Why should Wyndham get a cut? They get 10% (or more) of MFs as a management fee each year. THAT IS THEIR CUT. TS ARE NOT HOTELS. When Wyndham rents out their owned intervals, they get the whole pie. I somehow doubt Airbnbs in the same area are doing gangbusters either - it's the location that's the issue. Well, that along with not turning the resorts themselves into destinations attractive to current potential owners.

 

[HitchHiker71]

I would hope, and suspect, that communications to owners about the CWA swap will include this type of information. If they don't take the swap, 2026 reservations may be cancelled. Taking the swap keeps those reservations in tact. Things get messy when people have more than one points ownership as Wyndham doesn't seem to track points to a contract.

I would expect the same - only time will tell if that is actually the case. I will certainly reinforce this on the call with Wyndham today.

EDIT: reinforced as promised

 

[Arimaas]

I agree - it’s unfortunate, but I wouldn’t expect Wyndham to manually hold open an account for an owner who’s otherwise closing out their account with a resort sale, just because they have points deposited from a previous year.

Another option I think could work is to deposit that number of points from the future year into RCI and confirm an exchange with them before the end of the year.

Or refund the value of those points based on their MFs per 1000.

 

[dioxide45]

I was just on the zoom call for Oak Knoll, and I think they said there were 8 total HOAs at Fairfield Glade. We own at 1 that isn’t on the list, Glade at Nottinghamm Villas. According to the letter for that one, it has 15 buildings, 30 units. I’m not sure about the other 3.

Thanks. I tweaked my post to account for the additional 30 units. Now only 221 not accounted for at Glade.

 

[paxsarah]

I guess as long as I have 154K points in my account for 2026 on January 1, those can go poof and the reservations can stay in place.

That’s exactly how points work and what I would expect to happen. Points don’t really come from a particular bucket, they’re just counted, along with allowances for the benefits they include.

 

[dioxide45]

I agree - it’s unfortunate, but I wouldn’t expect Wyndham to manually hold open an account for an owner who’s otherwise closing out their account with a resort sale, just because they have points deposited from a previous year.

Another option I think could work is to deposit that number of points from the future year into RCI and confirm an exchange with them before the end of the year.

I am not sure that it will all play out that fast. Do we even know the timeline on when they plan to offer CWA swaps? I suspect any CWA swaps and potential deed backs to the HOA have to happen prior to bankruptcy filing. Though, maybe not.

 

[jp10558]

It is top driven, but bottom executed. There is a difference between driving and executing. The law firm being used is very large and very experienced. I have no doubt they are controlling when things happen and who says what. Do I like it and wish there was more communication and care given to prevent people getting screwed on 2026 reservations? Of course I don't like it. But disliking it does not mean it could have been done differently. I dislike the Electoral college, but it is the law, so we are stuck with it. Same goes for this process. They have to do things by the book.

That is very disingenuous. There is not a law that says you must keep people in the dark, rush a shutdown, or use Chapter 11 to close a resort. In fact, many many resorts closed via other means and several were posted in this thread. Even laws BTW are not some discovered fixed fact of the universe - they're created by people, and certainly can be criticized and under the proper procedures can be changed by people.

I am doing my best to not get legal but this is "hiding behind legalese". They are making up the book in so far as there are wind down options that are not this method. At best, the "book" is one made up by the law firm, and a different firm would have a different book. Not at all the same as a constitutional provision of the country IMO.