As a former employee of VI Resorts, I feel it’s important to share critical information about systemic issues within the company that could directly impact owners. During my tenure, I observed a constant energy of controlled chaos in the Bellevue office, signaling red flags over time. My goal is to ensure transparency, accountability, and to protect fellow owners from ongoing harm.
Here’s a breakdown of tactics I identified at the Bellevue, WA corporate office:
1. Fraudulent Sales Practices
A. The “Distressed Family” Opportunity
• Owners are told that a family in distress is looking to exit their timeshare and that VI Resorts is facilitating the process. The story claims that the family is willing to forfeit nearly 50% equity if another owner takes over the balance.
• In reality, this opportunity is completely fabricated—the points are coming directly from VI Resorts at full retail price. Many buyers take on 10 years of financing at 15.9% interest, believing they’re helping someone in need.
B. The “Price Freeze” Certificate
• Owners are presented with a “price freeze” certificate, supposedly offering a 50% discount compared to retail pricing. There’s no actual discount, as the “discounted” price is VI Resorts’ standard pricing.
Both sales opportunities are deliberately designed to deceive owners and are directly instructed by Bellevue leadership, specifically CEO Mike Vasey and Sales Director Greg Kendrick.
2. Manipulation of Loan Terms
• Sales representatives are instructed to lie to owners about their interest rates, consistently quoting 15.9% even when the actual rate is lower.
• Owners trust VI representatives to be honest about their financial terms, but this tactic allows VI Resorts to raise interest rates without the owner’s knowledge, as the owner believes the higher rate was in place all along.
3. Revenue Discrepancies in Public Offering Statements
• VI Resorts lists annual point sales at $1.1 million in its (publicly available) public offering statements.
• However, the Bellevue location alone generates over $7 million annually in point sales.
Such a gap in reported revenue raises questions about transparency in VI’s financial practices and whether these discrepancies are systemic across other locations.
Leadership not only tolerates but actively instructs these deceptive tactics to boost sales at the expense of owners.
If you’re a VI owner and may have experienced misleading sales tactics or are concerned about unauthorized interest rate increases, I urge you to verify your previous terms and fine print.
1. Contact Equiant Financial Services: 480.444.5999 // 500 N Juniper Dr Suite 100, Chandler, AZ 85226
Equiant is the loan processor for VI Resorts, and owners can inquire directly about the terms and accuracy of your loan agreement.
2. File a Complaint with Regulators:
• Consumer Financial Protection Bureau (CFPB)
• Your State Attorney General
3. Share Your Experience:
• Post your story here or on other timeshare forums to raise awareness and connect with other owners.
4. Explore Legal Action:
• If you feel your contract was entered into under false pretenses, consult an attorney about your options. Misrepresentation in sales pitches could provide grounds for contract rescission.
5. Direct Questions:
• If you have questions, I would be willing to clarify and give further context.
Transparency and accountability are essential to protecting owners and ensuring fair practices in the timeshare industry. Consumers deserve to know the ethics of a company they choose to do business with.
Here’s a breakdown of tactics I identified at the Bellevue, WA corporate office:
1. Fraudulent Sales Practices
A. The “Distressed Family” Opportunity
• Owners are told that a family in distress is looking to exit their timeshare and that VI Resorts is facilitating the process. The story claims that the family is willing to forfeit nearly 50% equity if another owner takes over the balance.
• In reality, this opportunity is completely fabricated—the points are coming directly from VI Resorts at full retail price. Many buyers take on 10 years of financing at 15.9% interest, believing they’re helping someone in need.
B. The “Price Freeze” Certificate
• Owners are presented with a “price freeze” certificate, supposedly offering a 50% discount compared to retail pricing. There’s no actual discount, as the “discounted” price is VI Resorts’ standard pricing.
Both sales opportunities are deliberately designed to deceive owners and are directly instructed by Bellevue leadership, specifically CEO Mike Vasey and Sales Director Greg Kendrick.
2. Manipulation of Loan Terms
• Sales representatives are instructed to lie to owners about their interest rates, consistently quoting 15.9% even when the actual rate is lower.
• Owners trust VI representatives to be honest about their financial terms, but this tactic allows VI Resorts to raise interest rates without the owner’s knowledge, as the owner believes the higher rate was in place all along.
3. Revenue Discrepancies in Public Offering Statements
• VI Resorts lists annual point sales at $1.1 million in its (publicly available) public offering statements.
• However, the Bellevue location alone generates over $7 million annually in point sales.
Such a gap in reported revenue raises questions about transparency in VI’s financial practices and whether these discrepancies are systemic across other locations.
Leadership not only tolerates but actively instructs these deceptive tactics to boost sales at the expense of owners.
If you’re a VI owner and may have experienced misleading sales tactics or are concerned about unauthorized interest rate increases, I urge you to verify your previous terms and fine print.
1. Contact Equiant Financial Services: 480.444.5999 // 500 N Juniper Dr Suite 100, Chandler, AZ 85226
Equiant is the loan processor for VI Resorts, and owners can inquire directly about the terms and accuracy of your loan agreement.
2. File a Complaint with Regulators:
• Consumer Financial Protection Bureau (CFPB)
• Your State Attorney General
3. Share Your Experience:
• Post your story here or on other timeshare forums to raise awareness and connect with other owners.
4. Explore Legal Action:
• If you feel your contract was entered into under false pretenses, consult an attorney about your options. Misrepresentation in sales pitches could provide grounds for contract rescission.
5. Direct Questions:
• If you have questions, I would be willing to clarify and give further context.
Transparency and accountability are essential to protecting owners and ensuring fair practices in the timeshare industry. Consumers deserve to know the ethics of a company they choose to do business with.
