• Welcome to the FREE TUGBBS forums! The absolute best place for owners to get help and advice about their timeshares for more than 32 years!

    Join Tens of Thousands of other owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 32 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 32nd anniversary: Happy 32nd Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    All subscribers auto-entered to win all free TUG membership giveaways!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Wish you could meet up with other TUG members? Well look no further as this annual event has been going on for years in Orlando! How to Attend the TUG January Get-Together!
  • Now through the end of the year you can join or renew your TUG membership at the lowest price ever offered! Learn More!
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Myrtle Beach resort, The Beach House Golf and Racquet Club, to remain closed for ‘major repairs’

The ongoing saga/drama is being reported on locally, more to come. Capital Vacations, the management company, is acting unconscionably towards owners -- shocked not shocked. Many owners have been going for decades and over generations, and are beyond furious and grief-stricken over this situation. This place was our very first timeshare acquisition back in 1997 (resale, after rescinding a developer purchase), and it was very good to us for trading (very first trade: 3 weeks in Spain, 2 gold-crown) and lots of very low-cost bonus time. Then after some years we'd passed on that week to another TUGger, and then we'd recently acquired a summer week (thanks to a TUGger), ironically our very first ownership intended for our own use only, not for trading -- nothing fancy, but location location location. We only got to use it once before this happened. An annual summer week sitting on a rocking chair overlooking the beautiful Atlantic was so relaxing and age-appropriate, and there was something about coming full-circle back to where our world-traveling adventure had begun. Oh well. :(

www.wmbfnews.com

‘We’re not rolling over’: Timeshare owners demand answers after resort in Myrtle Beach suddenly closes

Timeshare owners said they are still in the dark after The Beach House Golf and Racquet Club suddenly closed in July.
www.wmbfnews.com www.wmbfnews.com
 
We have one week with Capital Vacations and had a salesperson cold-call us to sell us something, I didn't listen to them. They were giving away five nights or something, like I need five nights in a dumpy hotel somewhere. I told them I am giving away my week, so I am not interested in anything they have to say.

I am afraid Eagle Point in Vail is going to be closed by Capital Vacations. The real estate value is crazy high in Vail. I can see them closing the resort and telling people to turn in their deeds for a price. We have friends who own there and are definitely seeing the writing on the wall.

Why did VRI just give up management of these resorts to a disgusting company like Capital? What is wrong with this picture? Owners have no say.

It's like Bluegreen's takeover of Blue Ridge Village. They take over a resort and then send us $2,000 in special assessments so far, and I see no end to it. One big one of about $1,200, then another one of $747. Capital could easily do this to owners. I will stop paying on Foxrun, if it comes down to it. I don't need the liability of the unknown.
 
and the latest update to this saga:

www.wmbfnews.com

‘It hurts’: Timeshare owners react to closed resort in Myrtle Beach now up for auction

The Beach House Golf and Racquet Club is up for auction and terminated its timeshare program almost two years after structural issues forced it to close suddenly.
www.wmbfnews.com www.wmbfnews.com


The current bid starts at $700,000, which is just a fraction of the $3 million estimate to repair the building.

After the sudden closure in 2023, timeshare owners had the option of taking a $250 buyout, transferring their deeds elsewhere or voting on the resort’s future.

In March, there was a majority vote to sell the property.


Timeshare owners then received a letter that stated all outstanding debts would be paid once the property sells, and the rest will be divided among timeshare owners who are up to date on their maintenance fees.
Click to expand...
 
I’ll refrain from reflecting on still another Capital Vacations “success :poop: story”, but I am curious about one particular detail.

Don’t most (non-“chain”) timeshare CC&R’s require owner vote and a very specific minimum percentage of those owners to agree by said vote to any termination of the timeshare plan and any subsequent property sale?

I see no reference to any such requisite owner vote in the above cited media coverage of this matter. :ponder::shrug::ponder:
 
Last edited:
Quoted right above your post, @theo:
“In March, there was a majority vote to sell the property.”


Sent from my iPad using Tapatalk
 
amycurl said:
Quoted right above your post, @theo:
“In March, there was a majority vote to sell the property.”
Click to expand...
I obviously missed that one liner; thank you. I really need to increase my caffeine intake (and / or improve my reading skills). Is it possible that, for once, Capital Vacations is not the primary villain? Unlikely....I'd still bet that the slimy and deceitful tactics and practices of Capital Vacations were / are major and direct factors in that whole debacle. Certainly, if CV obtained possession of enough deeds from bailing owners and from taking over enough HOA-owned weeks, Capital Vacations could very well have acquired enough voting power to initiate timeshare plan dissolution and sale of the property. :shrug:
 
Last edited:
curious as to what the % of owner owned vs association/capital owned intervals was at the time of the vote.
 
amycurl said:
Quoted right above your post, @theo:
“In March, there was a majority vote to sell the property.”
Click to expand...

theo said:
I obviously missed that one liner; thank you. I really need to increase my caffeine intake (and / or improve my reading skills). It also appears that, for once, Capital Vacations may not actually be the villain in that situation.
Click to expand...
I'm an ex-owner, and this whole situation has been a fiasco from the get-go. The "majority vote" claim is suspect, because of the inadequate communications and procedures ever since Capital became involved, phone calls and emails and inquiries unanswered. There was an offer to surrender deeds for $250, which I accepted, just because I didn't want to wait out the whole process *and* I didn't trust Capital. But there have been a slew of furious, upset, grieving owners who never did so. Capital seemed to infiltrate the board somehow, and took control, and made promises which were never followed through on (such as, swapping deeds for another equivalent week at a different Myrtle Beach resort -- too long of a story), and all of a sudden the place was on the auction block, when some owners didn't even know there had ever been a vote.

IMO yes Capital is a villain, and now another resort down the beach from MB, and btw same for the Ft Myers Beach resorts which were previously managed by VRI but now Capital whose post-Ian restoration progress seems to have been halted for no good reason, and and and. Their "sales" tactics should be illegal, I went to a presentation out of curiosity; I've been to several over my lifetime, and these guys were about the sleaziest, and it's a low bar!!
 
Yes, I have no doubt believing that Capital is the villain of the piece, and thanks for the insider info, @Laurie.

Interestingly enough, the one time we stayed at a Capital resort was pre-VRI acquisition in 2017. It was at a resort on the Inner Banks of NC. There was one building built on the cleared land, which had the utility hook-ups sticking out of the ground, and the pool, hot tub, and open-air gathering space. But it was right on the sound, and the views were amazing. There was an on-site manager that lived in one of the units. He made sure to have the hot tub ready for us each day for both sunrise and sunset, LOL! There was a little coffee hour welcome at some point during the week, and all he did was talk to those who showed up, sharing a little about the history of the resort (built initially as single-ownership condos before the developer went belly-up,) the future plans for build-out (he had a site plan on a poster board,) as well as ideas for other stuff to do in the area. That was it--no sales pitch, no gathering of our info, etc. It was Thanksgiving week and it was the largest kitchen I have *ever* had the pleasure of prepping Thanksgiving dinner in (it was clear these were supposed to be whole ownership.) We ended up inviting the manager to our Thanksgiving dinner, so he wouldn't have to eat alone (!!) and he accepted. It was really quite a great, low-key experience. It's jarring to compare that experience with what others' experience with Capital have been over the intervening years.
 
amycurl said:
Interestingly enough, the one time we stayed at a Capital resort was pre-VRI acquisition in 2017. It was at a resort on the Inner Banks of NC... It was really quite a great, low-key experience. It's jarring to compare that experience with what others' experience with Capital have been over the intervening years.
Click to expand...
I know which resort you're talking about and had it on my radar for awhile for possible exchange, looked lovely. Yah, if Capital hadn't grown so huge and greedy, and had stuck to working closely with all their resorts' HOAs and owners in good faith, and helped to improve maintenance issues, reserves and balance sheets -- rather than trying to bilke owners into mysterious points programs that made no sense using outlandish manipulative and scare tactics with clueless sales teams -- maybe outcomes would have been better. Maybe there are some resorts now under Capital's management that are working out better for owners and the resorts themselves, I have no idea.

And as far as Beach House Golf & Racquet Club in Myrtle Beach, I hope the owners who held onto their deeds (and kept paying maintenance fees) get a substantial payout at the end of this. Several are not expecting it at this point.
 
You must log in or register to reply here.
Top