The Annual meeting is coming up for Tahoe Seasons Resort in California.
Roy Fraser, the owner of VRI is Vice President of the Board of Directors, and VRI is the management company. In June, Tahoe Seasons Resort Board met in executive session and executed a contract with Grand Monarch to sell Grand Monarch 420 additional units. The contract is privileged so the owners cannot see the contract, but VRI most likely got a 50% commission. I was wondering why Monarch would accept a contract where 50% of what they paid would go to VRI instead of the HOA reserve account. The reserve account is already depleted below state mandates, and Monarch is the largest owner. The annual Dues are astronomical.
Now, Monarch is running its own candidate for the Board of Directors of Tahoe Seasons. Mr. Loren V. Gallagher who most recently was an executive with Sunterra, but previously spent 16 years with VRI, including President and COO of VRI.
Does anyone have any information on this collusion between Grand Monarch and VRI? Is Loren Gallagher an executive of Monarch? Why is VRI stuffing the Board with VRI and former VRI executives?
Thanks,
Roy Fraser, the owner of VRI is Vice President of the Board of Directors, and VRI is the management company. In June, Tahoe Seasons Resort Board met in executive session and executed a contract with Grand Monarch to sell Grand Monarch 420 additional units. The contract is privileged so the owners cannot see the contract, but VRI most likely got a 50% commission. I was wondering why Monarch would accept a contract where 50% of what they paid would go to VRI instead of the HOA reserve account. The reserve account is already depleted below state mandates, and Monarch is the largest owner. The annual Dues are astronomical.
Now, Monarch is running its own candidate for the Board of Directors of Tahoe Seasons. Mr. Loren V. Gallagher who most recently was an executive with Sunterra, but previously spent 16 years with VRI, including President and COO of VRI.
Does anyone have any information on this collusion between Grand Monarch and VRI? Is Loren Gallagher an executive of Monarch? Why is VRI stuffing the Board with VRI and former VRI executives?
Thanks,