Looking at the Bethal Inn post, it got me thinking about Crown Ridge that use to be in RCI too. I no longer see it. They were single family homes, near Cranmore. Somewhere along the line Mountain View at Crown Ridge was built (townhouse style). These are still around, but not the single family homes. Anyone know what happened to them?
EDIT: Simple google search and I answered my own question:
finance.yahoo.com
Small cut from the article.
TOWB Announces Completion of Repurposing Project at Crown Ridge Resort in North Conway, NH, generating over $7 million in gross revenues with proceeds distributed to homeowners and the legacy timeshare resort
WINTER SPRINGS, Fla., Nov. 1, 2022 /PRNewswire-PRWeb/ -- TOWB LLC announces its latest partnership and the completion of sales at Crown Ridge Resort in North Conway, NH, one of its many repurposing projects.
According to Joseph Takacs, CEO of TOWB, once the timeshare was totally repurposed, sales were over $7 million in gross revenues with net proceeds distributed to timeshare owners.
This repurposing project started at the initial Board phone call in November 2020 and was completed eighteen months later; TOWB's work was finished, and money was distributed, an average of $7,388 per timeshare owner per week. The timeshare association had been properly dissolved and the new 20-unit whole owners association was established and thrives.
Looking at timeshare resorts as a whole, Takacs noted that "the two biggest issues at nearly every legacy property are sales and rentals. Without a robust program in both, resorts find it hard to continue. While management companies can often provide a wealth of knowledge and best practices, many of these legacy properties are self-managed and may want to stay that way," said Takacs.
Why was Crown Ridge such a success? First and foremost, the Board. They understood what the owners' wanted, hired TOWB and worked with both TOWB and the owners seamlessly. The owners too were engaged and participatory; many of them regulars on bi-weekly board/TOWB calls. Local legal counsel, Cooper Cargill, was efficient and timely. Once the legal work was done, Pinkham Realty had the 20 individual units under contract in less than 60 days.
EDIT: Simple google search and I answered my own question:
TOWB Announces the Completion Repurposing Project at Crown Ridge Resort in North Conway, NH
TOWB LLC announces its latest partnership and the completion of sales at Crown Ridge Resort in North Conway, NH, one of its many repurposing projects.
Small cut from the article.
TOWB Announces Completion of Repurposing Project at Crown Ridge Resort in North Conway, NH, generating over $7 million in gross revenues with proceeds distributed to homeowners and the legacy timeshare resort
WINTER SPRINGS, Fla., Nov. 1, 2022 /PRNewswire-PRWeb/ -- TOWB LLC announces its latest partnership and the completion of sales at Crown Ridge Resort in North Conway, NH, one of its many repurposing projects.
According to Joseph Takacs, CEO of TOWB, once the timeshare was totally repurposed, sales were over $7 million in gross revenues with net proceeds distributed to timeshare owners.
This repurposing project started at the initial Board phone call in November 2020 and was completed eighteen months later; TOWB's work was finished, and money was distributed, an average of $7,388 per timeshare owner per week. The timeshare association had been properly dissolved and the new 20-unit whole owners association was established and thrives.
Looking at timeshare resorts as a whole, Takacs noted that "the two biggest issues at nearly every legacy property are sales and rentals. Without a robust program in both, resorts find it hard to continue. While management companies can often provide a wealth of knowledge and best practices, many of these legacy properties are self-managed and may want to stay that way," said Takacs.
Why was Crown Ridge such a success? First and foremost, the Board. They understood what the owners' wanted, hired TOWB and worked with both TOWB and the owners seamlessly. The owners too were engaged and participatory; many of them regulars on bi-weekly board/TOWB calls. Local legal counsel, Cooper Cargill, was efficient and timely. Once the legal work was done, Pinkham Realty had the 20 individual units under contract in less than 60 days.
