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Special Assessment (Festiva)

eggmansr71

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Diamond Resorts
So just received a special assessment from Festiva for not meeting their revenue with rentals. I understand Assessments for repair and such but for not having enough cash reserves to meet current obligations. Didn't realize they would do that.
 

silentg

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Central Florida
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Fitzpatrick's Castle Holiday Homes,
Enchanted Isle.
How much is assessment?
 

eggmansr71

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It's $230.00 I wonder if this is the start of a trend or if Fesiva is just in a bad situation.
 

pedro47

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I feel their will be many ts resorts that will not meet their projective goals for revenue for rental in 2020; because of COVID-19. IMHO.
 

RNCollins

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Borscht Belt
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Tradewinds, Divi, Quarter House, Casa Ybel
So just received a special assessment from Festiva for not meeting their revenue with rentals. I understand Assessments for repair and such but for not having enough cash reserves to meet current obligations. Didn't realize they would do that.

Are you a points owner or a deeded week owner? Which resort do you own at?
 

bobpark56

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Gibsonia, PA (just north of Pittsburgh)
Resorts Owned
Westin Lagunamar, Westin Aventuras, Marriott Grande Vista, Sandos Caracol, Festiva, Diamond Resorts (Hawaii Collection)
We received the $230 assessment notice also (6000 points). Due Sept 10, I think.
 

RNCollins

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Tradewinds, Divi, Quarter House, Casa Ybel
I own a deeded biannual fixed week unit and an annual floating unit at Palm Beach Resort in Orange Beach, AL and I did not receive a letter. I also checked my Festiva Account Membership Summary and there is no sign of a special assessment.
 

eggmansr71

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Diamond Resorts
1596968187310.png


Carol, Are you in their point system the Adventure Club I think? This is a snip of the web page showing it. So not sure what would have it on mine but not yours.
 

RNCollins

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Carol, Are you in their point system the Adventure Club I think? This is a snip of the web page showing it. So not sure what would have it on mine but not yours.

Hi @eggmansr71, my two weeks at the Palm Beach Resort in Alabama are deeded.

I had a special assessment on my Biannual Fixed Week 14 for $43.40 for 2019.
I’ve had no special assessments yet for 2020.

Below is for my Biannual fixed week I purchased resale.
I’m not sure what happened with the Special Assessment - I don’t remember getting a notice about that, so I missed paying that on time.
647ECB3C-36CA-47F2-8392-1839AB983952.jpeg



This is my Annual Float week. I just purchased this resale in January 2020 so I haven’t paid any SA or maintenance fees on it yet. These units are both 1 bedroom 1.5 bath units.
E755BF06-8EED-490B-8342-B6AEC0583AEA.jpeg
 

lb8inred

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As owners, are you happy with the resort and management company? We currently own with Hyatt so we're not familiar with Festiva. We love Orange Beach. Thank you, Laurie
 

massachu

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Massachusetts
Festiva is a timesharing machine. I own at a resort Festiva took over a decade ago. For an insight into Festiva, see the legal proceedings of the State of Maine v. Zealandia (Festiva) in 2016, the final result of which was refunds to some 800 owners at a Festiva Resort in Maine. In the most recent annual meeting of my home resort, Southcape, the Festiva resort trustee, who is also both an officer at the Latour management company and president of the Festiva Adventure Club, explained his plan to end timesharing in 2023 in part of the resort but, for a fee, allow affected owners to move to smaller part. Some owners complained that for over a year, the trustee had declined to answer certified letters about state requirements to which he said that Festiva would always comply with laws, so send letters and the Festiva legal department would consider them. In other words, owners have to know state law. Indeed, his board of the association has no legal resources to advise its owners. Another owner hearing all this expressed profound disgust with the timeshare industry and its corruption.
 
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