Wyndham is closing a handful of legacy resorts - dedicated chart/tracker located in the first post for this unfolding set of events

[rickandcindy23]

The price of $8,100,000 means each unit in that complex cost about $129,000. If you could have gotten 63 TUG members together to bid, each promising $129,000 toward the purchase, we could have bought that place and each had our own condo in Orlando for $129,000. Of course it would require a lot of title work.

Woulda, coulda, shoulda! That was a nice property and so close to Universal.

 

[Arimaas]

The price of $8,100,000 means each unit in that complex cost about $129,000. If you could have gotten 63 TUG members together to bid, each promising $129,000 toward the purchase, we could have bought that place and each had our own condo in Orlando for $129,000. Of course it would require a lot of title work.

Woulda, coulda, shoulda! That was a nice property and so close to Universal.

That also means without expenses, each week owner of a unit gets $2481. But, I am sure expenses for the lawyers, bankrupcy, sales folks, etc. were a lot, so I don' tthink people will be seeing much. Thoughts from the crowd?

 

[paxsarah]

That also means without expenses, each week owner of a unit gets $2481. But, I am sure expenses for the lawyers, bankrupcy, sales folks, etc. were a lot, so I don' tthink people will be seeing much. Thoughts from the crowd?

If you dig through the Omni documents, you may be able to find a running total of expenses and remaining cash on had (primarily reserves, I’d guess). Other than real estate expenses directly related to the sale (commissions, etc), there may not be many other things to pay out of the actual sales proceeds.

 

[Floridaman76]

They will no doubt find a way to burn through every penny before paying any of the pleabs...

 

[chapjim]

They will no doubt find a way to burn through every penny before paying any of the pleabs...

Think about it.

Wyndham owns more intervals than rest of us combined and is not likely to pee away its own money. In addition, there is a bankruptcy judge that must approve everything.

I don't expect to get much but I do believe that winding up the resort's affairs will be done properly.

 

[HitchHiker71]

Think about it.

Wyndham owns more intervals than rest of us combined and is not likely to pee away its own money. In addition, there is a bankruptcy judge that must approve everything.

I don't expect to get much but I do believe that winding up the resort's affairs will be done properly.

agree - the less the expenses the more Wyndham makes on the intervals themselves - which is why they are trying to fasttrack the entire process in the first place. This is a basic logical inference and conclusion really.

 

[chapjim]

This was one of the options for a "Deal" in an email I received today (not the email on my Wyndham account).

Patriots' Place Lives! [italics mine]

Williamsburg, VA
$249
$200 Tango Rewards Link - MP
3 Nights
Stay at Club Wyndham Patriot's Place, Wyndham Garden Williamsburg Busch Gardens Area or a comparable local hotel.
Offer Details

 

[HitchHiker71]

This was one of the options for a "Deal" in an email I received today (not the email on my Wyndham account).

Patriots' Place Lives! [italics mine]

Williamsburg, VA
$249
$200 Tango Rewards Link - MP
3 Nights
Stay at Club Wyndham Patriot's Place, Wyndham Garden Williamsburg Busch Gardens Area or a comparable local hotel.
Offer Details

I’m just guessing it’ll be a comparable local hotel!


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[bnoble]

...with "comparable" doing a lot of heavy lifting.

 

[amycurl]

Just as point of information: Dezer Development often partners with the Trump Organization on development (six of the Trump-branded towers were built by Dezer.) So I wonder what will be going up on that site soon?

 

[chapjim]

I’m just guessing it’ll be a comparable local hotel!


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Well, yes, but why say anything about Patriots' Place? Is Wyndham so fragmented that the division that sent the email doesn't know about closed resorts? Or, maybe they just ran the same email they ran last year!

 

[paxsarah]

Well, yes, but why say anything about Patriots' Place? Is Wyndham so fragmented that the division that sent the email doesn't know about closed resorts? Or, maybe they just ran the same email they ran last year!

I'm sure it's just another example of not tracking down every mention/instance of these closed resorts or HOAs throughout the different types of communications they have. It's just like the closed HOAs still appearing on the PDF points charts on the web pages for Edisto and Pagosa. Or the page reference for the policy in the "nastygram" thread being from a directory 2 editions past. They don't have good communications coordination.

 

[chapjim]

I'm sure it's just another example of not tracking down every mention/instance of these closed resorts or HOAs throughout the different types of communications they have. It's just like the closed HOAs still appearing on the PDF points charts on the web pages for Edisto and Pagosa. Or the page reference for the policy in the "nastygram" thread being from a directory 2 editions past. They don't have good communications coordination.

Poor internal communications or laziness (or both).

 

[chapjim]

Sale of OIRC approved by the Bankruptcy Judge.

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47562/ad9d3fe2-49b5-4555-846b-139e483e0d45_163.pdf

 

[chapjim]

Just as point of information: Dezer Development often partners with the Trump Organization on development (six of the Trump-branded towers were built by Dezer.) So I wonder what will be going up on that site soon?

Dezer Development

dezerdevelopment.com

No doubt Dezer is a big-time developer and has a plan for the rather compact parcel that was OIRC.

 

[HitchHiker71]

Sale of OIRC approved by the Bankruptcy Judge.

https://casedocs.omniagentsolutions.com/cmsvol2/pub_47562/ad9d3fe2-49b5-4555-846b-139e483e0d45_163.pdf

Great info - I'll add this to the OP tracker table now.

 

[Sandi Bo]

I'm sure it's just another example of not tracking down every mention/instance of these closed resorts or HOAs throughout the different types of communications they have. It's just like the closed HOAs still appearing on the PDF points charts on the web pages for Edisto and Pagosa. Or the page reference for the policy in the "nastygram" thread being from a directory 2 editions past. They don't have good communications coordination.

My son works in IT (all in the family, lol). We had conversations something like this..
* Son, when AI was first coming on the scene: AI is pretty great, I have to be careful, I could end up without a job
* Son, today: AI is great, yes, I use it. But you still need to use common sense. (Biggest issue he has is employees who use it and don't apply common sense).

Common sense, can be hard to find these days. Add to that the component about caring about doing things right / having pride in what you do.

 

[jp10558]

My son works in IT (all in the family, lol). We had conversations something like this..
* Son, when AI was first coming on the scene: AI is pretty great, I have to be careful, I could end up without a job
* Son, today: AI is great, yes, I use it. But you still need to use common sense. (Biggest issue he has is employees who use it and don't apply common sense).

Common sense, can be hard to find these days. Add to that the component about caring about doing things right / having pride in what you do.

IDK, I think this is just cultural to some extent - if no one at the company seems to care about doing things right, and you're not getting a raise or whatever over it, why would you put in obviously unnecessary effort / work? Especially at a place that is just a job? You do what they pay you to do, and nothing more. Most places either don't pay enough, or don't hold anyone accountable enough to get good work out. And so far AIs that are even more limited than many humans with specific scripts in CSR roles by company rules - I don't yet find them that threatening.

 

[claraj]

I haven’t read through this entire thread, sorry if this was already posted. I receieved an email that one of the former properties in Williamsburg is being sold:

196-Unit Williamsburg Hospitality Conversion Opportunity​ Offered Fee Simple, Free of Brand & Management Agreements​ Following coordination with individual homeowners’ associations, this asset, formerly operated as Club Wyndham Patriots’ Place, will be offered for sale through Hilco Global. Patriots’ Place is a former Club Wyndham resort with 196 units across 41 buildings. Built in 1985, the property sits on 26± AC with General Business zoning. Each unit features a full kitchen, living area and balcony or patio, with on-site parking and recreation facilities including a pool and clubhouse. These amenities, combined with the existing building infrastructure, position the asset for conversion to multifamily housing, student or faculty housing, condominium sell-out or continued use as extended-stay hospitality. Located near the I-64 corridor, this property provides easy access to Richmond and Norfolk, enhancing its regional appeal for investors seeking value-add real estate with longterm growth potential. Learn more​

DETAILS​ Address 220 House of Burgesses Way Williamsburg, VA Buildings 41 Units 196 Building SF 258,624± SF Parking 1-2 Spaces/Unit Year Built 1985 Lot Size 26.06± AC ​ ​

 

[HitchHiker71]

I haven’t read through this entire thread, sorry if this was already posted. I receieved an email that one of the former properties in Williamsburg is being sold:

​ ​ ​ 196-Unit Williamsburg Hospitality Conversion Opportunity​ Offered Fee Simple, Free of Brand & Management Agreements​ Following coordination with individual homeowners’ associations, this asset, formerly operated as Club Wyndham Patriots’ Place, will be offered for sale through Hilco Global. Patriots’ Place is a former Club Wyndham resort with 196 units across 41 buildings. Built in 1985, the property sits on 26± AC with General Business zoning. Each unit features a full kitchen, living area and balcony or patio, with on-site parking and recreation facilities including a pool and clubhouse. These amenities, combined with the existing building infrastructure, position the asset for conversion to multifamily housing, student or faculty housing, condominium sell-out or continued use as extended-stay hospitality. Located near the I-64 corridor, this property provides easy access to Richmond and Norfolk, enhancing its regional appeal for investors seeking value-add real estate with longterm growth potential. ​ Learn more​

​ ​ ​ ​ DETAILS​ ​ ​ Address 220 House of Burgesses Way Williamsburg, VA Buildings 41 Units 196 Building SF 258,624± SF Parking 1-2 Spaces/Unit Year Built 1985 Lot Size 26.06± AC ​ ​ ​ ​ ​ ​ ​

The link to each of the individual Hilco listings for each impacted resort is listed in the tracker table in the first post of this thread - including this one - just so everyone that didn't already know is aware. Here's the Hilco link for PP: https://platform.reverecre.com/project/7e828e38-f6cc-4425-9272-534e26fbb66f

Here's the Hilco link for all Wyndham properties currently for sale: https://hilcorealestatesales.com/national-resort-asset-portfolio/

 

[jp10558]

enhancing its regional appeal for investors seeking value-add real estate with longterm growth potential.

I would be wondering if it had so much longterm growth potential why it's being sold lol.

 

[HitchHiker71]

I would be wondering if it had so much longterm growth potential why it's being sold lol.

One person’s trash is another person’s treasure so they say. If for example Wyndham Shawnee is converted into wholly owned condos, for the right price I would seriously consider picking one up, at least in either Crestview or Depuy most likely.


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[Floridaman76]

I would be wondering if it had so much longterm growth potential why it's being sold lol.

Those would make great apartments or condos...

 

[rickandcindy23]

Patriot's Place has always been one of the most quaint resorts in the Wyndham system. I have a friend who visits family in the area at Christmas/ New Year's, and he is former military and loves Williamsburg. Anyway he used to trade into Patriot's Place through RCI for 4 TPU's. He was so disappointed the gravy train was over. I told him to watch for the same kind of RCI deal at Governor's Green or Kingsgate. But he loved Patriot's Place.

The damage done to the one unit that I could actually see in the window, I hope it's not widespread.

 

[Arimaas]

Nothing yet, but they did take this months MFs for my other two contracts yesterday, and got an email stating the same, so I know my email is correct.

don't remember prepaying for the FG contract (I do remember prepaying for the Kingsgate). FG was a $600 eBay win. Could it be possible I didn't prepay a year of MFs? It was a converted fixed week (was a great deal on MFs - something like $6/1000 and eBay cost was $600 all in 154k contract). The 154 k points are still in my account, which is annoying since I'd like to borrow against future use years for quick weekends in Newport, but after we go to TOTG in June, it won't make a difference since I'll start using the old FG points if need be, I'm not going to be held hostage by their process. Right now i am just worried that if i dip below 154k points, when they finally do decide to claw back, they'll cancel my 2 bedroom oceanfront at TOTG to make up the difference.

Nothing yet on my credit card from Wyndham in terms of refunds from FG MFs. I emailed them Monday and still haven't heard back, and this was after being shuffled around Wyndham's call centers, with no one knowing anything. I know I've asked 1000 times here, but is there any way possible I am not entitled to a refund as a converted fixed week at FG?