Is Your Canadian Timeshare in Trouble?

[Maple_Leaf]

There has been quite a bit of drama in the Canadian timeshare market:

• Shuswap Lakes belly up
• Fairmont bankrupt
• Chateau World
• Whiski Jack owners fight with management company
• Horseshoe Resort owners fight with developer
• Harbour Inn closing in 2012

And now the fire at White Point. Is your Canadian timeshare resort in trouble?

 

[Ironwood]

The Carriage Hills/Ridge TS's at Horseshoe Valley appear to be financially sound and not at significant odds with the developer/new owner...at least from the presentation of financials and discussion at the recent AGM. While we have had some good trips over the years, I would not ever do this again though. We sold 2 weeks at Smugglers Notch several years ago after 10 years of ownership, and now just have the one week. For the $1,200 or so that it costs me for mf and trade fees annually for the ts week, I can source at least equivalent standard of accomodation from a multiple of travel discount sites including the new Jaunt.ca....and I'm not tied to an annual commitment.

 

[BevL]

My houseboat timeshare in the Shuswaps, not Shuswap Lake but Great Lakefront Resorts which took over the houseboat part of Royal Host Club.

They were trying to charge me maintenance fees with some vague information about "substituting" timeshares in Banff or Mexico. When I explained that wasn't acceptable, they agreed to take back my ownership.

Houseboats are extremely expensive to maintain and a short season here in Canada.

 

[Maple_Leaf]

Thanks for the Carriage Hills Update

The Carriage Hills/Ridge TS's at Horseshoe Valley appear to be financially sound and not at significant odds with the developer/new owner...at least from the presentation of financials and discussion at the recent AGM.

I was wondering about the situation at Carriage Hills. I have seen so many units for $1 on Ebay that have not sold, including the summer float weeks. It appears the PCCs must be getting a lot of them from owners wanting to bail out.

 

[Maple_Leaf]

So true

Houseboats are extremely expensive to maintain and a short season here in Canada.

The short summer season hurts all Canadian timeshares, except the big ski resorts. Even at the eastern ski areas, too many mud weeks.

 

[dreamin]

Financial troubles with Aviawest and Elkhorn

Received an email from our timeshare vacation company, Aviawest, that stated "the Aviawest Resort Group has filed for protection under the Companies' Creditors Arrangement Act (CCAA)". The owners are telling us that it is business as usual while they present a restructuring plan to their creditors. Time will tell.

Attended the Elkhorn annual meeting in April and when one owner commented that "we are basically broke", no one argued the point. Lots of unpaid maintenance fees. Also high maintenance fees that have more than doubled since we purchased 10 years ago.

We've had many very nice vacations but it's getting very costly to do so.

 

[wptamo]

The one thing that sucks here in Ontario, is the Hst!!! That was an 8% increase that just raises the manit fees. I get more bang for my buck from Americain TS as a result. The tax went from 5% to 13 % .

Just my two cents....


Paul

 

[crisby]

White Point ?

"And now the fire at White Point. Is your Canadian timeshare resort in trouble?"

Wow! We have been in Palm Springs for the past two weeks and had not heard about White Point. We have reservations for one of the cottages there for the first week of May.

It's a bit confusing... their website says they will be closed until next fall. But we don't see anything on RCI that implies that the cottages are closed too. Hard to imagine that they can run the rest of the resort if the main lodge is gone.

Staying tuned.

Chris

 

[am1]

High taxes, minimum wage, and the rise in the Canadian dollar have all hurt Canadian timeshares.

I also feel there are much better ways to vacation in Canada than a timeshare.

 

[Maple_Leaf]

Add Aviawest to the list

Aviawest is another bankrupt Canadian resort company, with Parkside Victoria Resort, Rosewood Inn, Pinnacle Lodge, Pacific Shores Resort, Water's Edge and Rosedale on Robson Hotel, according to the Globe and Mail.

A creditor uses the term "hopelessly insolvent" to describe Aviawest. Canadian timeshares just keep falling like dominoes. Who will be next?

 

[eal]

Despite the complaints of creditors, the court agreed to extend Aviawest's CCAA protection until December 11th. It will be interesting to see what can be done in such a short period of time.

 

[theo]

Details please?

And now the fire at White Point.

Can you provide any more info and/ or news source references regarding this fire? (i.e., when? extent of damage? future repair plans?, etc.). If so, thanks in advance.

======================================================================
Disregard the above. Found another post with details and news link. Thanks to that poster.

Nova Scotia is my favorite place in North America and the people of that province the finest to be found walking upright anywhere on Planet Earth, in my personal opinion and first hand experience.

Very sad that a bit of the province history is now gone in flames...

 

[Maple_Leaf]

Whiski Jack?

Anyone have an update on the management company drama at Whiski Jack?

 

[herindoors911]

Any more news on Aviawest? thanks...

 

[Maple_Leaf]

Aviawest's Bankruptcy File

Any more news on Aviawest? thanks...

Here is Aviawest's bankruptcy file.

 

[shemsi1]

Aviawest/VI merger cuts out owners

Here's our reply to someone who followed our previous posts:

Don't know what to tell you at this point. It looks like the courts are moving to simplify their task in squeezing out what little value was left after the Pearson family was through with AviaWest & Pacific Shores.

We tried to raise important issues concerning the loss of value that current AviaWest & Pacific Shores owners were facing, but it looks like there's a push to prematurely close the "reorganization" and flush out whatever value is left to creditors.

Owners are left in the lurch. There is a very strong probability that the Pearons over sold the unit/time slots available during the construction of Parkside Victoria. This means that AviaWest purchasers (the 2nd Pearon family purchase we made) are in danger of losing their investment in the AviaWest point system.

The court appointed monitors are in the process of seizing unit/time inventory in Victoria & Parksville. Some of that inventory had to have been deposited with RCI and used as collateral for the RCI points oversold by the Pearsons. Documenting this would require some forensic accounting and appears to be outside the interest level of the court appointed monitors.

This is what Vacations Internationale are referring to as unsecured points … we suspect that our "ownership" will be flushed down the "experience" toilet by the Canadian authorities as the Pearsons exit with the millions in prepaid management fees they forced Pacific Shores & AviaWest to pay them before filing for protection.

For the latest on the Pearons' reorganization check out:
http://www.grantthornton.ca/services/reorg/bankruptcy_and_insolvency/aviawestgroup

 

[eal]

Whiski Jack drama

Maple Leaf, see this recent post:

http://tugbbs.com/forums/showthread.php?t=177868&highlight=whiski+jack

 

[Maple_Leaf]

Bye bye Whiski Jack

Maple Leaf, see this recent post:

http://tugbbs.com/forums/showthread.php?t=177868&highlight=whiski+jack

Thanks for the update. So it looks like Whiski Jack has been booted out of Whistler and replaced by Trading Places. Surely that is an improvement in what was a dramatic showdown between the owners and resort management.

 

[coolcat]

There has been quite a bit of drama in the Canadian timeshare market:

• Shuswap Lakes belly up
• Fairmont bankrupt
• Chateau World
• Whiski Jack owners fight with management company
• Horseshoe Resort owners fight with developer
• Harbour Inn closing in 2012

And now the fire at White Point. Is your Canadian timeshare resort in trouble?

What was happening with Horseshoe Resort? Aren't they Elkhorn Management?
Also, I never liked the White Point resort. The owner sent in photos to RCI of the big multi-room cabins and what's actually available ever is condos in a little village of condos. Nothing remotely like the oceanfront cabins they have in the photos. We almost booked with them until we found out the about the fraudulent advertisements on RCI. When we confronted the RCI management, they said they weren't responsible for the photos on their website. Well, if they aren't responsible, who is? Karma kicked that owner in the butt I guess with having a fire the next year.

 

[Maple_Leaf]

Thanks for the Carriage Hills Update



I was wondering about the situation at Carriage Hills. I have seen so many units for $1 on Ebay that have not sold, including the summer float weeks. It appears the PCCs must be getting a lot of them from owners wanting to bail out.

In another thread a long-time owner at Carriage Hills has said that the owners have been given the opportunity to vote on a resolution to terminate the timeshare.