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

[jp10558]

At that time, legal ownership of individual interests ends.

Not a Lawyer, but I'm pretty sure the resort declaring bankruptcy doesn't end the individual ownership interests. It may dissolve the timeshare contracts or whatever, - I thought one of the write ups said it would revert to tenants in common, but if you have a deed to an interest, the only way I'm aware of to have that go away is a foreclosure (but if you're current that isn't relevant) or a sale of the property with you being paid your percentage ownership at the end. I think part of the proceeding is to waive uninvolved people in the voting - i.e. those people not responding or something like that.

The Court will likely also require approval from owners for certain measures in the bankruptcy process (the sale of the resort).

I think the explanation on the bankruptcy was to make it simpler to get a vote on selling the resort?

 

[jp10558]

I've long thought that the amount of breakage is a LOT higher than most of us suspect.

I'm probably not understanding this, but do you mean people not actually using the TS at all? I have thought it must be somewhat astronomical outside of prime season given my experiences. Somewhat frequently on even shoulder season trips I find myself wondering if anyone else is staying at the resort. The only times I've felt like a resort was even close to full was June and July so far.

 

[dsanner106]

Wyndham has the deeds but if they are in the cwa trust, then cwa owners pay the mf.

On another note, I saw on facebook that a member called Atlantic City asking about her New Years Eve reservation and was told that they will cancel it.

It got me wondering what happens to owners of fixed week 52. Saturday check-in ends on Jan 3, 2026. They already paid the mf last year for a 7 day stay but can only use 4 of those days.

they will be honored, I asked this question and was told that just no new reservations after Dec 31 will be taken.

 

[dsanner106]

There is a 100% chance these weeks will no longer be a part of Club Wyndham and by extension, CWA, if/when/as each affected resort votes to terminate as a timeshare by one means or another. No different than any other converted fixed week owner at the affected resort.

actually not 100 percent. When Fairfield Plantation left the fold about 7-8 years ago, the new management and timeshare boards worked with Wyndham to become an affiliate resort. Those owners can still deposit and trade in the Wyndham system and wyndham owners can book and stay there. New name, same resort.

 

[dsanner106]

I'll second that. Who reads fine print (the red comments)? Perhaps that column should say Varies and the range (low-high)?

Each association has it's own budget, no two associations at the Glade have the same Maintenance fees.

 

[dsanner106]

Keeping these going as a TS with a different (almost certainly worse) manager seems like the worst possible outcome to me.

Fairfield Plantation in Georgia carried on as a self managed property. They gained gold crown status with RCI, something they didn't have under Wyndham and became a Wyndham affiliate resort.

 

[dsanner106]

I own a week at Fairfield Glade Oak Knoll, I was informed upon arrival that the timeshare is shutting down at the end of the year!!!. I thought that Wyndham was hired to maintain the timeshare. As Wyndham has converted week to points for many (maybe most) deeds, perhaps Wyndham has over half of the deeds and can decide on any action for the timeshare. Perhaps this was a long term plan.

Any idea on what happens to week owners beginning next year?

Thanks

Yes, Wyndham has been hired as the management company for FFG and the other resorts, and just like you or I, they can choose to quit the job. My understanding is that weeks owners could either keep their week and get a cut of any sales revenue or convert their contract to Club Wyndham Access points.

 

[dsanner106]

I've long thought that the amount of breakage is a LOT higher than most of us suspect.

What do you mean by breakage? Just curious

 

[robbie0001]

Well, then technically it is what owners want, because Wyndham is the owner. How much of OIRC has been folded into Access? I would not think it was much; this resort has been around a long time, but maybe there've been enough deedbacks to matter.

The only owner that matters is Wyndham.

At ORIC, Wyndham Vacation Resorts (T&L) owns ~17%
Club Wyndham Access owns ~41%
They voted all their intervals for Chapter 11 bankruptcy.

Not sure how Wyndham accumulated these interests. WVR may be unsold intervals from the original developer. I have to look at how CWA became involved, but I'm assuring these intervals were acquired as part of the conversion to a points-based system.

As the majority owner, Wyndham has caused original purchasers (in the 1980s) to lose ~95% of their investment. The original owners of our interval paid $7,900 in 1984 (approximately $120,000 in 2025 dollars). They paid $1,995 in 1994 to convert to points. The resort is expected to sell for ~$5,000 per interval week. Wyndham has marketed timeshares for years as an "investment", but as this example shows, Wyndham is only effective in destroying one's "investment".

If it is in Wyndham's best interests to sell the resort, it is my best interests as well. I certainly won't be converting our interest into any other Wyndham property or scheme because their products are not worth the financial risk, and I can rent in Wyndham's resorts often for less than current maintenance fees in the secondary markets without ANY upfront costs (purchase price) and without ANY risk of losing points/weeks due to non-use due to a change in plans.

What is happening at ORIC will happens many other places as T&L decides to close under-performing resorts to increase options in Chicago and Boston because that is what (supposedly) where the timeshare industry is moving.

 

[bnoble]

What do you mean by breakage? Just curious

Breakage: the inventory resulting from points that are never used. Wyndham gets to rent that inventory out and keep the proceeds.

Club Wyndham Access owns ~41%

That is a stunningly large number for a resort that (AFAIK) was not in active sales when CWA was created.

I have to look at how CWA became involved, but I'm assuring these intervals were acquired as part of the conversion to a points-based system.

I don't think so. I converted some weeks at a different resort within the last four years or so---I retain the deeds and the voting rights, but assign my underlying usage rights to the Club Wyndham points program. Instead, I suspect the bulk of these are either foreclosures or Certified Exit weeks that were recycled into CWA.

 

[comicbookman]

The only owner that matters is Wyndham.

At ORIC, Wyndham Vacation Resorts (T&L) owns ~17%
Club Wyndham Access owns ~41%
They voted all their intervals for Chapter 11 bankruptcy.

Not sure how Wyndham accumulated these interests. WVR may be unsold intervals from the original developer. I have to look at how CWA became involved, but I'm assuring these intervals were acquired as part of the conversion to a points-based system.

As the majority owner, Wyndham has caused original purchasers (in the 1980s) to lose ~95% of their investment. The original owners of our interval paid $7,900 in 1984 (approximately $120,000 in 2025 dollars). They paid $1,995 in 1994 to convert to points. The resort is expected to sell for ~$5,000 per interval week. Wyndham has marketed timeshares for years as an "investment", but as this example shows, Wyndham is only effective in destroying one's "investment".

If it is in Wyndham's best interests to sell the resort, it is my best interests as well. I certainly won't be converting our interest into any other Wyndham property or scheme because their products are not worth the financial risk, and I can rent in Wyndham's resorts often for less than current maintenance fees in the secondary markets without ANY upfront costs (purchase price) and without ANY risk of losing points/weeks due to non-use due to a change in plans.

What is happening at ORIC will happens many other places as T&L decides to close under-performing resorts to increase options in Chicago and Boston because that is what (supposedly) where the timeshare industry is moving.

Likely Wyndham acquired there large stake through givebacks. A point conversion does not give them the right to vote the underlying deed if they do not also own the deed. So the owners abandoning the resort have destroyed the value for the remaining owners, not Wyndham. This is not meant to defend or blame Wyndham, it is just offered as clarification.

 

[bnoble]

to increase options in Chicago and Boston because that is what (supposedly) where the timeshare industry is moving.

This is another post for another thread, but I just got back from Harbour Lights in San Diego. It was a fantastic location for an adult-only stay---walkable to the Padres at Petco Park, a Gispy Kings concert at the Rady Shell, and the touring version of Shucked at the Civic Theater. Throw in a healthy roster of restaurants and it's pretty easy to turn it into a solid vacation.

 

[bnoble]

As far as destroying value: even a decent fraction of that estimated $5K is a windfall for owners at that resort. The intervals at OIRC are worthless, and would be no matter who the management company was.

 

[robbie0001]

Not a Lawyer, but I'm pretty sure the resort declaring bankruptcy doesn't end the individual ownership interests. It may dissolve the timeshare contracts or whatever, - I thought one of the write ups said it would revert to tenants in common, but if you have a deed to an interest, the only way I'm aware of to have that go away is a foreclosure (but if you're current that isn't relevant) or a sale of the property with you being paid your percentage ownership at the end. I think part of the proceeding is to waive uninvolved people in the voting - i.e. those people not responding or something like that.

I think the explanation on the bankruptcy was to make it simpler to get a vote on selling the resort?

Wyndham (and some owners) voted last year to continue interval ownership for another 10 years. Wyndham has now decided to sell the property, but to do so, it needs "consent" from all owners, or the court's permission to continue with a sale (for intervals of owners' who do provide consent for a sale), so bankruptcy is the best/fastest to make a sale happen. Until the sale is ordered by the court, intervals are owned by someone, and those who own the intervals can continue to use them at ORIC until Wyndham decides to cease operations at ORIC. I expect that vote to happen soon to minimize operating costs at ORIC until the property is sold.

 

[robbie0001]

Likely Wyndham acquired there large stake through givebacks. A point conversion does not give them the right to vote the underlying deed if they do not also own the deed. So the owners abandoning the resort have destroyed the value for the remaining owners, not Wyndham. This is not meant to defend or blame Wyndham, it is just offered as clarification.

Why did the givebacks go to Wyndham and not ORIC?

 

[comicbookman]

Why did the givebacks go to Wyndham and not ORIC?

Wyndham's certified exit program takes back deeds and is an easy way to get out of ownership. It is also how they built up CWA. Also a lot of HOA's turn over foreclosures and abandoned deeds to Wyndham because then Wyndham will start paying maintenance fees as soon as they have ownership. Steady maintenance fees are what keep the resort going.

 

[CO skier]

actually not 100 percent. When Fairfield Plantation left the fold about 7-8 years ago, the new management and timeshare boards worked with Wyndham to become an affiliate resort.

The difference in that situation is that Fairfield Plantation owners did not vote to terminate the timeshare plan.

 

[CO skier]

Why did the givebacks go to Wyndham and not ORIC?

With Certified Exit and Ovation before it, the owners transfer their deeds directly to Wyndham. It is not like a foreclosure that would involve the resort HOA.

 

[TUGBrian]

"Not sure how Wyndham accumulated these interests. "

certified exit has been a thing for what, almost 10 years now?

Id be curious to know what the ownership rate is at most of these resorts....

 

[CO skier]

certified exit has been a thing for what, almost 10 years now?

Id be curious to know what the ownership rate is at most of these resorts....

The Pagosa Mountain Meadows vote to terminate followed by a vote to convert to a condo plan required a super-majority (67%) of the entire resort ownership to pass, which it did.

At ORIC, Wyndham Vacation Resorts (T&L) owns ~17%
Club Wyndham Access owns ~41%
They voted all their intervals for Chapter 11 bankruptcy.

58% Wyndham ownership seems on the low end for resorts that will require a super-majority vote to pass.

Was only a simple majority (50%) vote needed to pass the bankruptcy vote?

 

[Jan M.]

DH and I were just discussing the list of resorts being dropped. We've stayed at a good number of of them.

We've never stayed at Fairfield Harbor but from the multiple really bad reviews it gets we're wondering why it's not on the list of resorts being dropped.

 

[CO skier]

certified exit has been a thing for what, almost 10 years now?

Id be curious to know what the ownership rate is at most of these resorts....

Ovation and Certified Exit were/are very popular with owners (now ex-owners). Here is an exchange from July, 2015 -- not long after the introduction of Ovation:

One must wonder if they are inundated with deedbacks from Ovation...

For the short term, the unofficial name of the new program probably is "Inundation".

 

[chapjim]

The Pagosa Mountain Meadows vote to terminate followed by a vote to convert to a condo plan required a super-majority (67%) of the entire resort ownership to pass, which it did.


58% Wyndham ownership seems on the low end for resorts that will require a super-majority vote to pass.

Was only a simple majority (50%) vote needed to pass the bankruptcy vote?

66.67% of the vote was required to decide anything. However, only 20% of members were required to constitute a quorum.

 

[HitchHiker71]

58% Wyndham ownership seems on the low end for resorts that will require a super-majority vote to pass.

Was only a simple majority (50%) vote needed to pass the bankruptcy vote?

This is likely why Wyndham pursued the bankruptcy route for OIRC, they didn’t have enough of the interval vote majority via the amount of inventory held.


Sent from my iPhone using Tapatalk

 

[robbie0001]

The Pagosa Mountain Meadows vote to terminate followed by a vote to convert to a condo plan required a super-majority (67%) of the entire resort ownership to pass, which it did.


58% Wyndham ownership seems on the low end for resorts that will require a super-majority vote to pass.

Was only a simple majority (50%) vote needed to pass the bankruptcy vote?

Quorum requires 20% of owners' total votes...measures pass with 67% of vote
Wyndham voted 1880 out of 2038 "yes" votes (there were 26 "no" votes).

Wyndham obviously started the process to sell knowing the likelihood of passing the bankruptcy measure based on their controlling interest and the likelihood of poor owner voting. Even if all other owners voted "no", and the bankruptcy measure did not pass, Wyndham was not going to renew their contract with ORIC. ORIC was essentially dead in the water as a points-based system unless it found another management company (which is unlikely to happen without $5 million in renovations/updates).