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Bankrupt / Closed Timeshare resorts

TUGBrian

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I was just adding them as they got mentioned TBH...but im sure we could figure something out if the list gets long enough.
 

DianneL

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Ocean Palms

This resort was in New Smyrna Beach, Fl. Destroyed by hurricane in 2004 (I think that was the year). Not repaired or rebuilt and as I understand it from owners, city took property for unpaid taxes. Owners paid maint. fee for few years with no unit to use or trade. Finally stopped paying fees.
 

Jennie

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Royal Resorts, Cancun Mexico, similar but very different

As a timeshare newbie about 20 years ago, my first timeshare was purchased from an individual who had placed an ad in a Penny Saver magazine in Florida. I came aboard with 2 weeks that would expire in 2 months (didn't know that I could have paid a fee to extend them) plus 4 other weeks that would be valid for almost a year.

So, "I hit the road running" as the saying goes.

I spent many hours thumbing through the RCI and I.I books

Hubby ran out of vacation time so I went with a gal friend to the Royal Resorts in Cancun. I almost passed up on the sales presentation but went because it was a rainy day. The info provided was priceless.

Named VCI (Vacation Resorts International, this was the first built timeshare in Cancun. Sales were not going well. So as not to lose all the money invested, they came up with the idea to guarantee a full return of the entire purchase price at the end of a 20 year right to use period.

If units were sold by owners prior before the 20 years, the new owner would then receive the original sales price at the 20 year date.

Over the next two to four years, I bought 4 prime weeks via resale from owners, at greatly reduced prices, and there-by received the right to get the full original purchase paid the original owner. All in, I paid about 7,000 for the 4 weeks, had many wonderful vacations there, rented some weeks, and eventually received around $35,000. "residual value" when the 30 years were up.

Meanwhile the original guys who built VCI had gone on to build 4 more fabulous resorts in Cancun. They are still very popular vacation destinations.
 

JudyS

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....

Named VCI (Vacation Resorts International, this was the first built timeshare in Cancun. Sales were not going well. So as not to lose all the money invested, they came up with the idea to guarantee a full return of the entire purchase price at the end of a 20 year right to use period. ....
Over the next two to four years, I bought 4 prime weeks via resale from owners, at greatly reduced prices, and there-by received the right to get the full original purchase paid the original owner. All in, I paid about 7,000 for the 4 weeks, had many wonderful vacations there, rented some weeks, and eventually received around $35,000. "residual value" when the 30 years were up. ...
Wow! What a great deal you got! But the facility is still operating as a timeshare, isn't it? I thought Royal Resorts offered owners a chance to extend their usage (for a substantial fee, of course), and sold (or is still in the process of selling) the weeks that owners didn't extend. I still see this resort offered for exchange in II.



There was a timeshare in Howey in the Hills, Florida outside of Orlando that no longer exists. Apparently, the board of directors accidentally forgot to remember to pay the taxes when due. This was several years ago. Then, someone purchased the tax deed and ended up with ownership of the property and the timeshare owners were pushed out. It would seem the board would have a fiduciary responsibility to the owners to at least pay the taxes or to carry errors and omissions insurance. The owners were powerless to do much about it except on an individual basis. Hard to imagine timeshare ownership can merely evaporate so easily.
I think a few years ago, Timesharing Today did an article about this situation. If I recall correctly, the courts in Florida gave the resort back to the timeshare owners, on the grounds that owners were never personally notified of the pending tax sale.
 

TUGBrian

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Kozman

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Peppertree Atlantic Beach I

Peppertree Atlantic Beach I has declared bankruptcy and is in the process of being leveled. Peppertree Atlantic Beach II is currently condemned and repairs are suppose to be completed by May. But, considering so many have lost their usage while still expecting to pay up to $700 in maintenance fees last year and this year, I have my doubts of it's ability to recover if enough quit paying. Details are discussed in the US East Coast Section.
 

meinmn

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Indian Point - Branson, MO

Does anyone know anything about Indian Point in Branson, MO? I have been calling for weeks to bank my week but no answer and the mailboxes are full.
 

shar

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Divi Tiara in the Caymans was closed because of severe damage from hurricane. Perhaps this should be listed behind it as another resort also has that listed fro the reason. closed.

Shar
 

TUGBrian

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added apple valley to the list, thank you!
 

TUGBrian

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TUGBrian

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i actually plan to implement a wiki style software for some of the advice pages, but i dont believe there is any realistic way to allow for members to update someone elses post on the forums.

we can of course have links from forum posts to wiki pages that do allow this, but then someone (an admin or moderator) still has to manually make the change to the original forum post.
 

Mixedupmo

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Resorts Owned
Harbor Hill at Provincetown
Scottsdale pinacle
Add Harbor Hill at Provincetown in MA.

Lots of speculation of delinquent fees and such causing resorts to declare bankrupcy and close down, but its rarely ever in the news when this actually happens unless its a major resort.

As we have been doing some emails to members about resorts that have not been updated in many years, its come to no surprise that a number of replies have been from owners informing us that the resort has closed or shut down due to a myriad of issues.

I wanted to start listing these resorts somewhere as owners provide the information on the closings...so here we go:

[UPDATED LISTING AS Of 6.2016]

NOTE: Information as Reported by Various Sources

Sorted: by Location [State within the United States or if INTL by Country]

River Grove Chalets Felton CA
Palm Springs villas Palm springs CA
Warner Springs Ranch, Warner Springs CA
Club Vacances Magog Quebec, Canada
Sutherland Crossing, Crystal Beach, FL
Neptune Hollywood Beach Club, Hollywood, FL
Spanish River Resort, Delray Beach, FL
Ocean Palms - New Smyrna Beach, FL
Jolly Harbour Marina and Golf Resort, Antigua
Prospect Reef Resort, Tortola, British Virgin Islands
Lodge at Horseshoe Resort, Quebec, Canada
Indies Suites Cayman Islands
Divi Tiara Beach Resort, Cayaman Islands (hurricane)
Royal Caraibes, Guadeloupe
Xpu-Ha Palace, Quintana Roo, Mexico
Encanto Timeshares, Playa Del Carmen, Mexico
Vacation Club at Bahamia at Royal Oasis Crown Plaza, Bahamas
North Harbor III, Slidell, Louisiana (hurricane destroyed)
Club at Cape Cod, Cape Cod, MA
Legend Resort, Vernon, NJ
560 Ocean Club, Atlantic City, NJ
Deer Run Village, Samford, NY
Nottingham Village (with Friar Tuck Inn) , Catskill, NY
Deschutes River Ranch, Bend, Oregon
Club La Costa Hustyns - UK
apple valley - ohio
Peppertree Atlantic Beach Phase I. - Atlantic Beach, NC

Sorted Alphabetically

560 Ocean Club, Atlantic City, NJ
Apple Valley - Ohio
Club at Cape Cod Cape Cod, MA
Club Vacances Magog, Quebec, Canada
Deer Run Village , Samford, NY
Deschutes River Ranch, Bend, Oregon
Divi Tiara Beach Resort, Cayaman Islands
Encanto Timeshares, Playa Del Carmen, Mexico
Hustyns - club la costa - UK
Indies Suites, Cayman Islands
Jolly Harbour Marina and Golf Resort, Antigua
Legend Resort, Vernon, NJ
Lodge at Horseshoe Resort, Quebec, Canada
Neptune Hollywood Beach Club, Hollywood Beach, FL
North Harbor III, Slidell, Louisiana (hurricane destroyed)
Nottingham Village (with Friar Tuck Inn), Catskill, NY
Ocean Palms - New Smyrna Beach, FL
Palm Springs Villas, Palm Springs, CA
Peppertree Atlantic Beach Phase I. Atlantic Beach, NC
Prospect Reef Resort, Tortola, British Virgin Islands
River Grove Chalets, Felton, CA
Royal Caraibes, Guadeloupe
Spanish River Resort, Delray Beach, FL
Sutherland Crossing, Crystal Beach, FL
Vacation Club at Bahamia at Royal Oasis Crown Plaza, Bahamas
Warner Springs Ranch, Warner Springs, CA
Xpu-Ha Palace, Quinta Roo, Mexico


ill keep this updated as more come in, please feel free to post up known / recent closures and ill add them to the list.
Lots of speculation of delinquent fees and such causing resorts to declare bankrupcy and close down, but its rarely ever in the news when this actually happens unless its a major resort.

As we have been doing some emails to members about resorts that have not been updated in many years, its come to no surprise that a number of replies have been from owners informing us that the resort has closed or shut down due to a myriad of issues.

I wanted to start listing these resorts somewhere as owners provide the information on the closings...so here we go:

[UPDATED LISTING AS Of 6.2016]

NOTE: Information as Reported by Various Sources

Sorted: by Location [State within the United States or if INTL by Country]

River Grove Chalets Felton CA
Palm Springs villas Palm springs CA
Warner Springs Ranch, Warner Springs CA
Club Vacances Magog Quebec, Canada
Sutherland Crossing, Crystal Beach, FL
Neptune Hollywood Beach Club, Hollywood, FL
Spanish River Resort, Delray Beach, FL
Ocean Palms - New Smyrna Beach, FL
Jolly Harbour Marina and Golf Resort, Antigua
Prospect Reef Resort, Tortola, British Virgin Islands
Lodge at Horseshoe Resort, Quebec, Canada
Indies Suites Cayman Islands
Divi Tiara Beach Resort, Cayaman Islands (hurricane)
Royal Caraibes, Guadeloupe
Xpu-Ha Palace, Quintana Roo, Mexico
Encanto Timeshares, Playa Del Carmen, Mexico
Vacation Club at Bahamia at Royal Oasis Crown Plaza, Bahamas
North Harbor III, Slidell, Louisiana (hurricane destroyed)
Club at Cape Cod, Cape Cod, MA
Legend Resort, Vernon, NJ
560 Ocean Club, Atlantic City, NJ
Deer Run Village, Samford, NY
Nottingham Village (with Friar Tuck Inn) , Catskill, NY
Deschutes River Ranch, Bend, Oregon
Club La Costa Hustyns - UK
apple valley - ohio
Peppertree Atlantic Beach Phase I. - Atlantic Beach, NC

Sorted Alphabetically

560 Ocean Club, Atlantic City, NJ
Apple Valley - Ohio
Club at Cape Cod Cape Cod, MA
Club Vacances Magog, Quebec, Canada
Deer Run Village , Samford, NY
Deschutes River Ranch, Bend, Oregon
Divi Tiara Beach Resort, Cayaman Islands
Encanto Timeshares, Playa Del Carmen, Mexico
Hustyns - club la costa - UK
Indies Suites, Cayman Islands
Jolly Harbour Marina and Golf Resort, Antigua
Legend Resort, Vernon, NJ
Lodge at Horseshoe Resort, Quebec, Canada
Neptune Hollywood Beach Club, Hollywood Beach, FL
North Harbor III, Slidell, Louisiana (hurricane destroyed)
Nottingham Village (with Friar Tuck Inn), Catskill, NY
Ocean Palms - New Smyrna Beach, FL
Palm Springs Villas, Palm Springs, CA
Peppertree Atlantic Beach Phase I. Atlantic Beach, NC
Prospect Reef Resort, Tortola, British Virgin Islands
River Grove Chalets, Felton, CA
Royal Caraibes, Guadeloupe
Spanish River Resort, Delray Beach, FL
Sutherland Crossing, Crystal Beach, FL
Vacation Club at Bahamia at Royal Oasis Crown Plaza, Bahamas
Warner Springs Ranch, Warner Springs, CA
Xpu-Ha Palace, Quinta Roo, Mexico


ill keep this updated as more come in, please feel free to post up known / recent closures and ill add them to the list.
 

dioxide45

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This is the type of thread that should have a wiki for members to revise take pressure off op
i actually plan to implement a wiki style software for some of the advice pages, but i dont believe there is any realistic way to allow for members to update someone elses post on the forums.

we can of course have links from forum posts to wiki pages that do allow this, but then someone (an admin or moderator) still has to manually make the change to the original forum post.
Perhaps something like WikiVault would work. Doesn't require allowing users to edit someone else's post in the forums. Users work together to create Wiki content for popular topics.
 

TUGBrian

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there is actually a mod i saw during the upgrade that does something like this...but with all the other items going on i didnt have time to look into it that deeply.
 

tschwa2

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A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
Gurneys Inn in Montauk, NY will cease as a timeshare at the end of next year (Dec 2017).
Four years ago owners were offered 3 options. Immediate buy out offer and cease access to resort. There was an option for immediate deed back with no compensation but retain use without MF or voting rights for 5 years. The final option was a freeze in MF (which is still $1800-3500 annually depending on unit size) and at the end of 5 years a guaranteed payout which I believe was slightly lower than the immediate offer plus a percentage based on the final sale of the resort which would ideally take place in 2018. During the 5 year period the resort would be renovated by the developer that took over at the beginning of 2013.
 

tomt73

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One minor geographic correction: Deer Run Village was/is in Stamford, NY, not "Samford".
 

Mixedupmo

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Scottsdale pinacle
Gurneys Inn in Montauk, NY will cease as a timeshare at the end of next year (Dec 2017).
Four years ago owners were offered 3 options. Immediate buy out offer and cease access to resort. There was an option for immediate deed back with no compensation but retain use without MF or voting rights for 5 years. The final option was a freeze in MF (which is still $1800-3500 annually depending on unit size) and at the end of 5 years a guaranteed payout which I believe was slightly lower than the immediate offer plus a percentage based on the final sale of the resort which would ideally take place in 2018. During the 5 year period the resort would be renovated by the developer that took over at the beginning of 2013.
I dont want this to happen to me!
 

RichardinLakeland

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FYI, did not see this resort on your list. It's near Crossville TN.
I copied this from their web page:
http://www.marinerspointeresort.com/owners.htm

NOTICE
Sadly, Mariner’s Pointe Resort closed its doors May 28th, 2016, after 35-years of wonderful memories for thousands of families.
Known today as Mariner’s Pointe Resort, it was first known in 1965, as ‘Holiday Hills Country Club’. The resort and its many improvements became ‘Boardwalk On The Lake’ in 1981, when the first timeshare deed was sold.
 

theo

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Add Harbor Hill at Provincetown in MA.
A woman posting as "Harbor Hill Three" (in TUG Lounge forum) claims to be associated with Building 3 at Harbor Hill and within the past few weeks (April, 2017) overtly asserted that Building 3 is not part of the bankruptcy there and is in fact (at least for now) still operating as a fully functional timeshare.

I have no personal knowledge of the murky status there but it might be premature to declare Harbor Hill "closed down" entirely. :shrug:
 
Last edited:

Panina

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La Renaissance, Atlantic City, NJ closed its doors last year. They are allowing owners to deed back to the association.
 

Robd

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FYI, did not see this resort on your list. It's near Crossville TN.
I copied this from their web page:
http://www.marinerspointeresort.com/owners.htm

NOTICE
Sadly, Mariner’s Pointe Resort closed its doors May 28th, 2016, after 35-years of wonderful memories for thousands of families.
Known today as Mariner’s Pointe Resort, it was first known in 1965, as ‘Holiday Hills Country Club’. The resort and its many improvements became ‘Boardwalk On The Lake’ in 1981, when the first timeshare deed was sold.
Are you kidding? We loved this resort. We have a homesite in the area and would stay there as often as we could. They only allowed RCI exchanges every other year.
 
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