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Exchange canceled as Rancho Manana developer files for bankruptcy

Steve

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When I got home from work today, I had a message from II stating that Rancho Manana in Cave Creek, AZ was closing and that my exchange for Thanksgiving (which I have had for over a year) would have to be canceled. After calling the resort and spending over an hour on the phone with II, it turns out that the resort itself may not be closing...but its future is uncertain as the developer has gone bankrupt. All of the weeks deposited into II were from the pool of ILX-owned weeks, and these reservations...along with all confirmed exchanges through Interval International...have been canceled. The only people who will be able to use the resort are those who own through the Rancho Manana Residence Club or those who rent directly from the resort.

Unfortunately, II was not able to find a replacement exchange for me for Thanksgiving week. That was not a surprise, but it is disappointing to have my upcoming vacation cancelled. After checking multiple alternatives, the best they could do was put in a new search for something this winter. I am hoping for a high end, two bedroom unit at a resort in Arizona or Southern California...as I would like to get something comparable to what I lost. Rancho Manana was an extremely nice resort...and it was even pet friendly...so this is definitely disppointing.

I just want to alert anyone else who may have an exchange into Rancho Manana. You definitely will want to call II and see if you still have an exchange or not.

Steve
 
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Deb from NC

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Oh my..isn't Crag's Lodge in Estes Park part of this group? I don't have a current exchange there but was thinking about it for next year. I guess this means that II won't have anything in Estes Park (?) Does the Worldmark Estes Park only trade thru RCI?
Deb
 

VacationPro

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When I got home from work today, I had a message from II stating that Rancho Manana in Cave Creek, AZ was closing and that my exchange for Thanksgiving (which I have had for over a year) would have to be cancelled. After calling the resort and spending over an hour on the phone with II, it turns out that the resort itself is not closing...but the ILX Premiere Vacation Club has gone bankrupt. As a result, the resort will not allow ILX members to use their weeks. In addition, as all of the weeks deposited into II were from the pool of ILX-owned weeks, the resort has cancelled all of the confirmed exchanges through Interval International. The only people who will be able to use the resort are those who own through the Rancho Manana Residence Club or those who rent directly from the resort.

Unfortunately, II was not able to find a replacement exchange for me for Thanksgiving week. That was not a surprise, but it is disappointing to have my upcoming vacation cancelled. After checking multiple alternatives, the best they could do was put in a new search for something this winter. I am hoping for a high end, two bedroom unit at a resort in Arizona or Southern California...as I would like to get something comparable to what I lost. Rancho Manana was an extremely nice resort...and it was even pet friendly...so this is definitely disppointing.

I just want to alert anyone else who may have an exchange into Rancho Manana or another ILX resort. You definitely will want to call II and see if you still have an exchange or not.

Steve
This is very troubling. I wonder what happens next for the resorts?
 

tlsbooks

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ILX resorts are still showing up in II as available for exchange - Los Abrigados, Kohl's Ranch, Scottsdale, Camelback, Estes Park. There are no Ranch Manana sightings. Maybe the problem at this point is resort specific?
 

barndweller

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That's a real bummer! We went there on an AC a couple of years ago and really liked the place. There are a couple of codes for Rancho Manana. Is it only the ILX portion that is kaput? II should be able to get you a Thanksgiving 2 bedroom with their developer buddy's at Marriott or Starwood or maybe even DRI. ;) Lawrence Welk has a lot of 2 bedrooms and they are very nice, too.

I'm curious...what did II give you back when they cancelled?

Sure hope it works out for you!
 

Steve

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That's a real bummer! We went there on an AC a couple of years ago and really liked the place. There are a couple of codes for Rancho Manana. Is it only the ILX portion that is kaput? II should be able to get you a Thanksgiving 2 bedroom with their developer buddy's at Marriott or Starwood or maybe even DRI. ;) Lawrence Welk has a lot of 2 bedrooms and they are very nice, too.

I'm curious...what did II give you back when they cancelled?

Sure hope it works out for you!
From what I was told by the resort, all II exchanges into Rancho Manana have been cancelled. I'm not sure about the other ILX resorts, but Rancho Manana is no longer available through II.

Unfortunately, II didn't give me much at all. They said that there was nothing available in a 2 bedroom for that week in the whole western US. After over 45 minutes on the phone, they offered me a 2 bedroom week at Horizons by Marriott in Branson for Thanksgiving. I declined. I knew that getting a replacement for Thanksgiving week would be difficult, but I was still disappointed. So, now I have an ongoing request with no guarantee of success. The lady was nice, but she didn't seem to have much available to work with.

Steve
 

eal

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Hi Steve,
This may be sort of an off-the-wall suggestion, but how about western Canada? Because it is not a holiday up here there seems to be more availability. II has Thanksgiving week at Manteo Beach Resort in Kelowna and Sunset Resort in Canmore, they may have some weeks at Fairmont as well.
 

rang1

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I too have lost my week at Rancho. Talking with Rancho, II, and ILX, they all blame each other. Rancho is not closing. Like the previous post says, hotel guests, residence owners are not effected just timeshare folks. And ILX said to me they will have Rancho in their stable in the future. Rancho said ILX and II canceled the reservations, not them.
I havn't seen anything about ILX declaring bankruptcy, but I did find this.


Aug. 15 (Bloomberg) -- Rancho Manana Ventures LLC, an Arizona property developer, sought bankruptcy protection from creditors.

A corporate resolution filed with the court indicated that the Cave Creek-based company is analyzing alternatives to ``maximize its value,'' including a sale of all of its assets.

The company listed debt of $10 million to $50 million and assets of $1 million to $10 million in Chapter 11 documents filed Aug. 13 in U.S. Bankruptcy Court in Phoenix. Rancho didn't provide an affidavit explaining events leading up to bankruptcy.

The case is In re Rancho Manana Ventures LLC, 08-10441, U.S. Bankruptcy Court, District of Arizona (Phoenix).
 

Steve

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Hi Steve,
This may be sort of an off-the-wall suggestion, but how about western Canada? Because it is not a holiday up here there seems to be more availability. II has Thanksgiving week at Manteo Beach Resort in Kelowna and Sunset Resort in Canmore, they may have some weeks at Fairmont as well.
Hi,

Thanks for the suggestion. You make a good point that Thanksgiving in Canada is in October...so our holiday week would be easier to exchange into up there. I would very much like to visit western Canada, but I'd prefer to go in the summer or early fall. I was hoping for someplace warm for this November. :(

Steve
 

Steve

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I too have lost my week at Rancho. Talking with Rancho, II, and ILX, they all blame each other. Rancho is not closing. Like the previous post says, hotel guests, residence owners are not effected just timeshare folks. And ILX said to me they will have Rancho in their stable in the future. Rancho said ILX and II canceled the reservations, not them.
I havn't seen anything about ILX declaring bankruptcy, but I did find this.


Aug. 15 (Bloomberg) -- Rancho Manana Ventures LLC, an Arizona property developer, sought bankruptcy protection from creditors.

A corporate resolution filed with the court indicated that the Cave Creek-based company is analyzing alternatives to ``maximize its value,'' including a sale of all of its assets.

The company listed debt of $10 million to $50 million and assets of $1 million to $10 million in Chapter 11 documents filed Aug. 13 in U.S. Bankruptcy Court in Phoenix. Rancho didn't provide an affidavit explaining events leading up to bankruptcy.

The case is In re Rancho Manana Ventures LLC, 08-10441, U.S. Bankruptcy Court, District of Arizona (Phoenix).
This is very interesting. I, too, found conflicting and confusing information when talking to the various parties. I suspect, based on your post, that Rancho Manana filed for bankruptcy rather than ILX. But then it doesn't make sense that only II exchanges and ILX reservations are affected. I'm not sure what the straight story is, but Rancho Manana has some serious issues.

Steve
 

LynnW

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This is very sad news from such a beautiful resort :bawl: We have stayed twice with both exchanges made through DAE and were ready to put in another request for Oct 2009. This is really bad news for those who have had their exchanges cancelled at this late date. I wonder if this would also affect exchanges made with DAE ?

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From Premiere Vacation Club: To Steve and Others

Please allow us to correct a misunderstanding and incorrect information disseminated by Steve in his posting of August 27, 2008 at 12:05 AM. Premiere Vacation Club is not in bankruptcy. The developer of the resort, Rancho Manana Ventures, filed bankruptcy on August 13, 2008 owing substantial amounts to the Rancho Manana homeowners association. The developer is not affiliated with Premiere Vacation Club or with ILX Resorts in any way. Premiere Vacation Club is current in, and has in fact prepaid its obligations to the Rancho Manana homeowners association.

However, without the substantial funds the developer owes the HOA, the resort will be unable to remain operational. The HOA and the developer advised Premiere Vacation Club and ILX Resorts on August 20 that it could not guarantee that the resort would remain open beyond August 24, 2008. ILX immediately advised Interval International of the situation and Interval elected to notify and relocate its in-bound exchange guests. Premiere Vacation Club also began relocating its owners with near term reservations at Rancho Manana to other locations.

We are certainly disappointed that the developer has failed to meet its obligations to the homeowners association. While the resort does remain open as of today (with a significantly pared down staff), there is no assurance that it will continue to do so, or that the service level and guest experience would be appropriate.

We look forward to the restoration of full operation upon resolution of the developer’s financial issues.
 

Steve

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Please allow us to correct a misunderstanding and incorrect information disseminated by Steve in his posting of August 27, 2008 at 12:05 AM. Premiere Vacation Club is not in bankruptcy. The developer of the resort, Rancho Manana Ventures, filed bankruptcy on August 13, 2008 owing substantial amounts to the Rancho Manana homeowners association. The developer is not affiliated with Premiere Vacation Club or with ILX Resorts in any way. Premiere Vacation Club is current in, and has in fact prepaid its obligations to the Rancho Manana homeowners association.

However, without the substantial funds the developer owes the HOA, the resort will be unable to remain operational. The HOA and the developer advised Premiere Vacation Club and ILX Resorts on August 20 that it could not guarantee that the resort would remain open beyond August 24, 2008. ILX immediately advised Interval International of the situation and Interval elected to notify and relocate its in-bound exchange guests. Premiere Vacation Club also began relocating its owners with near term reservations at Rancho Manana to other locations.

We are certainly disappointed that the developer has failed to meet its obligations to the homeowners association. While the resort does remain open as of today (with a significantly pared down staff), there is no assurance that it will continue to do so, or that the service level and guest experience would be appropriate.

We look forward to the restoration of full operation upon resolution of the developer’s financial issues.
Thank you for the correction. I will change the title of this thread, as it is certainly not my intent to spread inaccurate information in regards to ILX.

Steve
 

flyguy

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Diamond Resorts International has taken over the ILX inventory

I was recently in Cave Creek and visited with DRI personnel at this resort. There are some 14 units (all two bedroom) that Diamond has taken over. The units were empty for some three years but have been cleaned up and made ready for guests. The location is next to a golf course and Tonto Restaurant that are managed separately from the resort. Currently the exercise room and small "restaurant" near the pool are not being utilized. The location is beautiful and the rooms appear to be very comfortable and clean.
 

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Rancho Manana Tour - Marvelous!

I did the property tour (very informal) at Rancho Manana March, 2012. The property reopened Oct, 2011 and Diamond is operating 14 timeshare 2br units. they are gorgeous; all tile floors, two master suites with extra storage space, either a Murphy bed in den or two separate beds in the second master. Special price arranged for owners at the golf course.

They have fractional ownership is 14 more units which get 1/11th and what they label as 3 prime weeks and 1 summer week. does not seem like there are 33 platinum weeks this high in the mountains (pretty cold in December)
I found two people on tug and red-week willing to rent me the 3 weeks for the cost of maintenance fees - $4,000 total.
 
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