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

[dioxide45]

I suspect Mike's comments were just off the top of his head. If you look at HOAs it is closer to 30. If we define a handful as a number, it probably shouldn't be more than 5. The investor representative asking the question was quoting "handful" from this thread. Perhaps the thread title should just say "Wyndham is Closing Some Legacy Resorts." In either case, it doesn't really make that much of a difference.

 

[paxsarah]

Well, to be fair I said "resort locations" not resorts. I never used the term markets. In this case, the word resort is a descriptive adjective to the noun locations. That said, I take your point, however I was on my mobile, as was indicated via the Tapatalk signature alert, so I wasn't providing a holistic answer, just a quick reply while on the go. My post has now been corrected to provide a more comprehensive answer now that I'm back at my desk. I suppose I should think twice about replying on my phone these days.

Yes, it was specifically the phrase "the three" that threw me (a phrase that is now lost to the ether with your edit) where "the" (the implication being the only ones sharing a particular characteristic) three consisted of Branson, Edisto, and Pagosa, but one of those three is not like the others.

I used "markets," I know you didn't. I used it because "locations" is a squishy term that could mean a city, or it could mean a single resort. Markets is more specific, IMO.

 

[sponger76]

I love having all this "optionality." And more seasonality.

While the increased number of options and seasonality in particular may indeed be preferable from the perspective of the vacationer, it doesn't make sense from a business perspective unless they can charge such a high rate for the prime seasons that it carries them over during the low seasons. And I doubt very many individual timeshare owners would find value in that proposition.

 

[BDMX2]

I just called the Property Management at Bentley Brook.

I too missed the zoom meeting although I did submit the proxy.

The amendment passed overwhelmingly. Next meeting is a couple of weeks Tentatively Oct 30. A real estate and legal representative(s) will go over the next steps and it will include a zoom meeting as well. A package similar to the one received will be sent. The resort is closing December 31 and all have been notified of their termination. These people have the roughest part to play here. They are still working and looking for other jobs. Please be kind to them they don't deserve what is happening. They are not to blame. A skeleton crew will remain after December 31 to keep the resort up until a buyer is identified. There is no information about a buyer or rumors or anything like that at this time. Although it might make sense that an real estate appraisal was carried out by Wyndham to facilitate their decision. The third step will be determination of residual values for owners and until then expenses will be taken out of reserves. There will be no fees after December for owners.

Hope this helps

All of this makes me so sad. We don't own at BB but it has become our favorite home away from home in recent years. Thanks to Wyndham, we tried skiing and fell in love with it. BB and Jiminy are close enough for a weekend or even a day trip for us, so we go often and love it there. Between this shutdown becoming reality for BB and Jiminy adding Ikon pass access, I don't love what this looks like it means for the mountain and the area. The folks that work there are amazing and it feels like community to me, I hope whatever this all means ends up being good for them.

BB has been going under major renovations. Recently they made the main building up to state codes with more handicap rooms to include audio/visual handicap rooms.

I've been wondering if the updates were initiated as a way to increase appeal to potential buyers...or was that started before the rumblings of this?

 

[HitchHiker71]

Drilling down on some details for Wyndham Shawnee resort excepted from the following article from last week: https://www.bizjournals.com/philade...wyndham-shawnee-village-closing-for-sale.html

“Layoffs at the Poconos site are expected to start on Dec. 31, with the majority completed by Jan. 7, according to the state filing. The two homeowners associations will remain open after January, with the small group of employees staffing those associations expected to be terminated by April 7, the filing says.”

So basically we know from the PA WARN notice that the two HOAs that are still in TBD status in our tracker may remain open beyond 12/31/2025. That may or may not mean that the resort Inc dirty for these two HOAs will be available within Club Wyndham or Worldmark though - I will attempt to find out more tomorrow.


Sent from my iPhone using Tapatalk

 

[Mowogo]

While the increased number of options and seasonality in particular may indeed be preferable from the perspective of the vacationer, it doesn't make sense from a business perspective unless they can charge such a high rate for the prime seasons that it carries them over during the low seasons. And I doubt very many individual timeshare owners would find value in that proposition.

A regular timeshare might be able to pull it off, but being that the primary offering is trust points, T+L is on the hook for paying when units sit empty. T+L doesn't want to have to filter the special assessments for these old resorts through their trust owners.

 

[shawnee83]

So basically we know from the PA WARN notice that the two HOAs that are still in TBD status in our tracker may remain open beyond 12/31/2025.

I walked through Fairway today for the first time ever. It has a very different look and feel from the River Villages and Ridge Top areas. Hard to tell which buildings are part of Shawnee and which may be privately owned, "full interval" or some other wrinkle. That one may be tricky to pull apart.

 

[HitchHiker71]

OP tracker updated during today's Wyndham review meeting. Please reference the table for any/all updates. Long story short, we're down to only BB and Shawnee that still have outstanding votes - all other resorts in the tracker have voted and approved bankruptcy proceedings and resort operations closure on or around 12/27/2025 per the templated HOA notifications.

I was able to validate that yes, the two remaining HOAs at Shawnee that haven't held votes are due to whole interval owners - Wyndham is giving these owners more time to come to a decision on whether or not they want to participate in the processes ongoing.

 

[shawnee83]

I was able to validate that yes, the two remaining HOAs at Shawnee that haven't held votes are due to whole interval owners - Wyndham is giving these owners more time to come to a decision on whether or not they want to participate in the processes ongoing.

How does that "whole interval" thing work? Do they pay 52X maintenance fees???

 

[TUGBrian]

saw these details posted for OIRC today related to the bankruptcy:

Orlando Timeshare Association Files Chapter 11 Bankruptcy

The Orlando International Resort Club Condominium Association, Inc. (OIRC) of Orlando, Florida, filed for bankruptcy protection on October 23, 2025.

whatnow.com

The case number 6:25-bk-06813 of the association reports 50-99 creditors with estimated assets at $1,000,001 to $10 million and liabilities at $0 to $50,000

 

[chapjim]

Thanks, Brian! I've found the filing and as soon as my Verizon FiOS network stops acting up, I'll download and post it (or a link to it).

Edit: Well, that didn't turn out. All I've found so far is the title page and list of documents, none of which have a link.

 

[dioxide45]

saw these details posted for OIRC today related to the bankruptcy:

Orlando Timeshare Association Files Chapter 11 Bankruptcy

The Orlando International Resort Club Condominium Association, Inc. (OIRC) of Orlando, Florida, filed for bankruptcy protection on October 23, 2025.

whatnow.com

That story doesn't seem to provide a lot of the back story that is better understood here. It seems they looked at the filing and wrote the story based only on that. Would most of the creditors be vendors that are owned some small amount of money that has been invoiced but not paid?

Also who is R Scott Shuker from Shuker & Dorris, P.A.? Is this a representative of K&L Gates LLP?

 

[comicbookman]

That story doesn't seem to provide a lot of the back story that is better understood here. It seems they looked at the filing and wrote the story based only on that. Would most of the creditors be vendors that are owned some small amount of money that has been invoiced but not paid?

Also who is R Scott Shuker from Shuker & Dorris, P.A.? Is this a representative of K&L Gates LLP?

Moe than likely. They may also owe payments on installment contracts for services.

 

[chapjim]

That story doesn't seem to provide a lot of the back story that is better understood here. It seems they looked at the filing and wrote the story based only on that. Would most of the creditors be vendors that are owned some small amount of money that has been invoiced but not paid?

Also who is R Scott Shuker from Shuker & Dorris, P.A.? Is this a representative of K&L Gates LLP?

You're right about the story. Looks like they used some standard verbiage about Chapter 11 -- reorganization, etc. Nothing about why OIRC is there.

Shuker is an attorney from Orlando. The K&L Gates attorney is Jeffrey T. Kucera with offices in Miami. Kucera is appearing pro hac vice, for this case.

Orlando International Resort Club Condominium Association, Inc. Files For Bankruptcy​

Represented By The Law Firm K & L Gates LLP​

Subchapter_V, PlnDue

U.S. Bankruptcy Court​

Middle District of Florida (Orlando)​

Bankruptcy Petition #: 6:25-bk-06813-GER​

Assigned to: Grace E. Robson
Chapter 11
Voluntary
Asset

• Date filed: 2025-10-23

Debtor
Orlando International Resort Club Condominium Association, Inc.
5353 Del Verde Way
Orlando, FL 32819
ORANGE-FL
EIN: 59-*******
represented by
Jeffrey T Kucera
K & L Gates LLP
200 S. Biscayne Blvd., Suite 3900
Miami, FL 33131
P: 305-539-3322
Fax: 305-358-7095
Email: j**************@*******.***
R Scott Shuker
Shuker & Dorris, P.A.
121 South Orange Avenue, Suite 1120
Orlando, FL 32801
P: 407-337-2060
Fax: 407-337-2060
Email: r*******@*******.***
U.S. TrusteeUnited States Trustee - ORL
Office of the United States Trustee
George C Young Federal Building
400 West Washington Street, Suite 1100
Orlando, FL 32801
P: 407-648-6301

Docket Summary​

Date	Doc #	Description
10/24/2025		Prepare Hearing Notice - Courtroom Deputy Use - Attorney to Notice
10/24/2025	14	Notice of Deficient Filing (BK) [Notice of Deficient Filing (BK)]
10/23/2025		ADI - Notice to Debtor(s) Attorney Regarding Local Rule 2081-1 (Paperless Entry)
10/23/2025	1	Voluntary Petition (Chapter 11) [Voluntary Petition (Chapter 11)]
10/23/2025	2	Chapter 11 Case Management Summary [Chapter 11 Case Management Summary]
10/23/2025	3	Motion for Authority to Maintain Pre-Petition Bank Accounts [Motion for Authority to Maintain Pre-Petition Bank Accounts]
10/23/2025	4	Motion to Limit Notice [Motion to Limit Notice]
10/23/2025	5	Certificate of Authorization to File Bankruptcy Petition [Certificate of Authorization to File Bankruptcy Petition]
10/23/2025	6	Z - Generic Motion (use only when there is no specific motion event) (BK) [Z - Generic Motion (use only when there is no specific motion event) (BK)]
10/23/2025	8	Application to Employ/Retain [Application to Employ/Retain]
10/23/2025	9	Z - Generic Motion (use only when there is no specific motion event) (BK) [Z - Generic Motion (use only when there is no specific motion event) (BK)]
10/23/2025	11	Motion to Appear pro hac vice (BK) [Motion to Appear pro hac vice (BK)]

 

[CO skier]

"Stephen Grambling, Analyst, Morgan Stanley: Great. Just a quick follow-up question here. I’ve noticed some online message board discussion about closing a handful of your legacy resorts. If, in fact, that’s true, it’s not something you typically see. If, in fact, that is happening, I’m curious what the rationale for that may be and what, if any, might be the financial impact to your company from apps. Thank you.

Michael Brown, President and Chief Executive Officer, Travel + Leisure Co.: Patrick, you’re about probably 30 or 30 minutes or an hour ahead of us. You’ll see it as part of our disclosures exactly this today as part of our disclosures and our queue.

This is probably the disclosure (buried in the 10-Q) mentioned by Michael Brown:

"Strategic Resort Restructuring

In order to promote the long-term strength of our portfolio of vacation ownership resorts, we recently undertook a strategic review with the intent of optimizing the overall quality of the portfolio, maintaining the affordability of maintenance fees, and mitigating the need for costly special assessments in the future. This review identified fourteen resorts requiring substantial upgrades or that are located in markets that no longer align with owner preferences. As a result of this review, during the third quarter of 2025, we proposed to the boards of the respective homeowners’ associations (“HOAs”) a court-supervised restructuring plan to remove select resorts from our portfolio and to reduce the number of units at certain other resorts.

When completed, these actions are expected to result in significant annual savings attributable to the maintenance fees we incur on unsold VOIs at the identified resorts. Such savings would be partially offset by the loss of, or reduction in, the associated resort management fees earned at the impacted resorts.

Based on third-party valuation reviews of the resorts that have obtained HOA board and required member approvals for the proposed actions through September 30, 2025, we incurred $6 million of inventory impairment charges, which are included within Cost of vacation ownership interests on the Condensed Consolidated Statements of Income. The required member votes for the remaining eleven resorts identified by the review were scheduled to occur during the fourth quarter of 2025, with certain votes having already occurred subsequent to the end of the quarter. If all actions are approved for these remaining eleven resorts, it is estimated that we would incur additional inventory impairment charges of approximately $22 million.

In conjunction with these actions, we are expecting to also offer impacted owners holding interests in the identified resorts, including our vacation ownership clubs, the option to exchange their ownership interests in the identified resorts for an equivalent ownership interest in one of our other vacation ownership products. If such offers are made and accepted, we could incur additional impairment or other related charges that could be significant.

Additionally, we incurred $1 million of other charges in connection with this initiative consisting primarily of employee costs."

 

[comicbookman]

This is probably the disclosure (buried in the 10-Q) mentioned by Michael Brown:

"Strategic Resort Restructuring

In order to promote the long-term strength of our portfolio of vacation ownership resorts, we recently undertook a strategic review with the intent of optimizing the overall quality of the portfolio, maintaining the affordability of maintenance fees, and mitigating the need for costly special assessments in the future. This review identified fourteen resorts requiring substantial upgrades or that are located in markets that no longer align with owner preferences. As a result of this review, during the third quarter of 2025, we proposed to the boards of the respective homeowners’ associations (“HOAs”) a court-supervised restructuring plan to remove select resorts from our portfolio and to reduce the number of units at certain other resorts.

When completed, these actions are expected to result in significant annual savings attributable to the maintenance fees we incur on unsold VOIs at the identified resorts. Such savings would be partially offset by the loss of, or reduction in, the associated resort management fees earned at the impacted resorts.

Based on third-party valuation reviews of the resorts that have obtained HOA board and required member approvals for the proposed actions through September 30, 2025, we incurred $6 million of inventory impairment charges, which are included within Cost of vacation ownership interests on the Condensed Consolidated Statements of Income. The required member votes for the remaining eleven resorts identified by the review were scheduled to occur during the fourth quarter of 2025, with certain votes having already occurred subsequent to the end of the quarter. If all actions are approved for these remaining eleven resorts, it is estimated that we would incur additional inventory impairment charges of approximately $22 million.

In conjunction with these actions, we are expecting to also offer impacted owners holding interests in the identified resorts, including our vacation ownership clubs, the option to exchange their ownership interests in the identified resorts for an equivalent ownership interest in one of our other vacation ownership products. If such offers are made and accepted, we could incur additional impairment or other related charges that could be significant.

Additionally, we incurred $1 million of other charges in connection with this initiative consisting primarily of employee costs."

So that puts a big dent in the "Wyndham is profiting from the closures theory" (I am excluding the future yearly savings from this statement)

 

[chapjim]

This is probably the disclosure (buried in the 10-Q) mentioned by Michael Brown:

"Strategic Resort Restructuring

In order to promote the long-term strength of our portfolio of vacation ownership resorts, we recently undertook a strategic review with the intent of optimizing the overall quality of the portfolio, maintaining the affordability of maintenance fees, and mitigating the need for costly special assessments in the future. This review identified fourteen resorts requiring substantial upgrades or that are located in markets that no longer align with owner preferences. As a result of this review, during the third quarter of 2025, we proposed to the boards of the respective homeowners’ associations (“HOAs”) a court-supervised restructuring plan to remove select resorts from our portfolio and to reduce the number of units at certain other resorts.

When completed, these actions are expected to result in significant annual savings attributable to the maintenance fees we incur on unsold VOIs at the identified resorts. Such savings would be partially offset by the loss of, or reduction in, the associated resort management fees earned at the impacted resorts.

Based on third-party valuation reviews of the resorts that have obtained HOA board and required member approvals for the proposed actions through September 30, 2025, we incurred $6 million of inventory impairment charges, which are included within Cost of vacation ownership interests on the Condensed Consolidated Statements of Income. The required member votes for the remaining eleven resorts identified by the review were scheduled to occur during the fourth quarter of 2025, with certain votes having already occurred subsequent to the end of the quarter. If all actions are approved for these remaining eleven resorts, it is estimated that we would incur additional inventory impairment charges of approximately $22 million.

In conjunction with these actions, we are expecting to also offer impacted owners holding interests in the identified resorts, including our vacation ownership clubs, the option to exchange their ownership interests in the identified resorts for an equivalent ownership interest in one of our other vacation ownership products. If such offers are made and accepted, we could incur additional impairment or other related charges that could be significant.

Additionally, we incurred $1 million of other charges in connection with this initiative consisting primarily of employee costs."

The term "inventory impairment" was new to me so I looked it up. "Often referred to as “inventory impairment”, an inventory write-down is an accounting term describing the reduction in the inventory balance in the event that the market value of inventory falls below its book value, yet remains sellable." (https://www.wallstreetprep.com/knowledge/inventory-write-down/)

The statement in bold seems counter-intuitive. If Wyndham rids itself of the eleven resorts, I would think the inventory impairment would decrease.

Help, someone!!

 

[dioxide45]

The term "inventory impairment" was new to me so I looked it up. "Often referred to as “inventory impairment”, an inventory write-down is an accounting term describing the reduction in the inventory balance in the event that the market value of inventory falls below its book value, yet remains sellable." (https://www.wallstreetprep.com/knowledge/inventory-write-down/)

The statement in bold seems counter-intuitive. If Wyndham rids itself of the eleven resorts, I would think the inventory impairment would decrease.

Help, someone!!

I think they are having to write down the value of the inventory on their books that is available for sale as CWA points. The have assets, CWA points, that are available for sale. By selling properties and stripping them out of CWA as well as offering swaps, it makes their future inventory worth less than it is today. Kind of like a financial institution writing down the value of loans on a balance sheet because they se defaults rising in the future.

 

[shawnee83]

I think they are having to write down the value of the inventory on their books that is available for sale as CWA points. The have assets, CWA points, that are available for sale.

People can buy these points at a great discount on the internet. Yes you lose some kind of perks but still you can get days at a resort. How does that affect the value of these assets? You'd have to think it really reduces the value.

 

[Edsolomon]

I received an email today from Wyndham. I own at Orlando International Resort Club (OIRC). The purpose of the email was to offer me the opportunity to convert my current points to Wyndham points. I have 30 days to accept the offer or accept the sale of the resort and whatever sale proceeds MAY be offered. I did call Wyndham to seek additional information. As you can expect, I was told to wait for further emails.
The representative could not tell me how much my "new" maintinence fees would be, as it needs to be calculated as a percentage of ALL remaining resorts.
Not knowing what (if any) proceeds of the sale of the property would be forthcoming, it is a difficult decision to make. With a (30) day window, and little information, it is a roll of the dice. At the very least, I know my maintanence fees will go up......and no other information about fees associated with EXCHANGES.
If anyone has additional insight, guidance, or guesses....I would really like to hear from you. Thanks for listening to me........
Ed Solomon

 

[dioxide45]

I received an email today from Wyndham. I own at Orlando International Resort Club (OIRC). The purpose of the email was to offer me the opportunity to convert my current points to Wyndham points. I have 30 days to accept the offer or accept the sale of the resort and whatever sale proceeds MAY be offered. I did call Wyndham to seek additional information. As you can expect, I was told to wait for further emails.
The representative could not tell me how much my "new" maintinence fees would be, as it needs to be calculated as a percentage of ALL remaining resorts.
Not knowing what (if any) proceeds of the sale of the property would be forthcoming, it is a difficult decision to make. With a (30) day window, and little information, it is a roll of the dice. At the very least, I know my maintanence fees will go up......and no other information about fees associated with EXCHANGES.
If anyone has additional insight, guidance, or guesses....I would really like to hear from you. Thanks for listening to me........
Ed Solomon

So much for that customer service number. While they may not be able to provide an exact number for the CWA maintenance fees, they should be able to give you a small range. Did they offer you any other resources as part of the email? A link to a website about the offer? An FAW?

Certainly at this point Wyndham knows, or is about to know, what the CWA fees will be for 2026. How can they expect you to make a decision in 30 days if they can't provide actual numbers. I would utilize 2025 CWA maintenance fees as a good guide. I doubt these properties being dropped really moves the needle on them that much.

 

[shawnee83]

Also who is R Scott Shuker from Shuker & Dorris, P.A.? Is this a representative of K&L Gates LLP?

Possibly the attorney for the HOA? At the Shawnee River Village IIIB special meeting, the K&L Gates attorney mentioned the lawyer that represents the HOA so maybe that is the person that has to file? They never said pro hac vice on Perry Mason so I don't what that is

 

[shawnee83]

I received an email today from Wyndham. I own at Orlando International Resort Club (OIRC).

So we know that OIRC filed bankruptcy on 23 October, and today you received an email from Wyndham. This may give the rest of us a timeline for what comes next for our various HOAs.

 

[dioxide45]

People can buy these points at a great discount on the internet. Yes you lose some kind of perks but still you can get days at a resort. How does that affect the value of these assets? You'd have to think it really reduces the value.

I don't think they use resale values to determine the value of the asset on their balance sheet. They are basically saying that they know they are going to lose a lot of inventory off their balance sheet through CWA swaps and resort closure and are writing the value of that asset down. Since they don't sell that asset at full retail for $0 like you can get on resale, they wouldn't value it at $0 on their balance sheet.

 

[Edsolomon]

So much for that customer service number. While they may not be able to provide an exact number for the CWA maintenance fees, they should be able to give you a small range. Did they offer you any other resources as part of the email? A link to a website about the offer? An FAW?

Certainly at this point Wyndham knows, or is about to know, what the CWA fees will be for 2026. How can they expect you to make a decision in 30 days if they can't provide actual numbers. I would utilize 2025 CWA maintenance fees as a good guide. I doubt these properties being dropped really moves the needle on them that much.

The only website they directed me to was the one where I request that I convert to CWA or decline. No further information. Do you know the current CWA Maintenance fees?
I should mention that the link stated that the fees would be $8.13 per thousand points converted PLUS additional fees that relate to the approximately 70 resorts that I would have access to. That unknown number troubles me.
Ed