TImeshares

Company Puts Construction of Wyndham Desert Blue timeshare project on hold

February 20th, 2009

Wyndham’s timeshare unit said Tuesday it’s suspending construction on its high-profile Desert Blue resort in Las Vegas.

By Steve Green – Tue, Feb 17, 2009 (2:30 p.m.)

Construction Stops on Desert Blue
Sun archives

Wyndham announces new Las Vegas resort (4-8-08)
Beyond the Sun

Wyndham Desert Blue
Desert Blue resort

Four days after lodging giant Wyndham Worldwide Corp. reported a huge loss because of the economic slowdown, Wyndham’s timeshare unit said Tuesday it’s suspending construction on its high-profile Desert Blue resort in Las Vegas.

The Wyndham Vacation Ownership resort near the Rio hotel-casino is planned to consist of 19 stories with 281 condominium-style units. Martin-Harris Construction Co. and its subcontractors had completed the building shell on the 14.75-acre site, which has a high profile because of its proximity to Interstate 15, the Las Vegas Strip and Flamingo Road.

“We have temporarily suspended construction,” said Lisa Burby, vice president of corporate communications for Wyndham Vacation ownership. “This is a temporary situation. Desert Blue remains in our plans. It’s still a priority for us.”

Wyndham Worldwide of Parsippany, N.J., one of the nation’s largest hotel companies with brands such as Days Inn, Hawthorn, Ramada and Super 8, on Friday reported a loss for the fourth quarter ended Dec. 31 of $1.356 billion, or $7.63 per share, because of $1.378 billion in noncash charges for restructuring and writing down the value of assets because of the recession.

READ MORE – (click here )


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Resort Equity Marketing Complaint

February 8th, 2009

Stay away from this company and please do your homework before giving any timeshare marketing company your money! You need to read the Better Business Bureau of Central Florida’s report on these guys. We signed up with REM 1/05 to sell our timeshare condominium. This was over the phone and the sales pitch and guarantee seemed reasonable.

However, in thinking it over and doing some additional research (BBB of Central Florida, etc.), we discovered that this was not the upstanding company that we were led to believe. Given the fact that we were told we had 7 days to cancel the contract, we figured we had an out without any issues. Only one problem, we were not given a contact number to reach this company by the phone sales person. Only told that our contract would arrive in a few days and that we had time to cancel once we received it. Attempting to reach these people at numbers listed on the Better Business Bureau’s website were futile. We received our contract on the 8th day after we had agreed to sign up with them over the phone. How convenient?! We were now past the contractual 7 day limit for cancelling!!!!

We have attempted to cancel with them via phone, mail, etc. and asked for a refund since that time, but they say they cannot do that because they have already started marketing our timeshare. Yet, when we have asked for proof of the services they are providing, they cannot provide us any. The only thing that has been done is that our condo is listed on their website (along with hundreds of others). No other marketing has been done, contrary to what they led us to believe (i.e., conventions, other sales literature, etc.). To test their marketing and follow thru on potential sales offers they are supposed to notify us of, we have put several offers out on the online system for our own condo

(READ FULL ARTICLE )

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Summit Resort Marketing – Beware

February 7th, 2009

Two weeks ago I was contacted by Summit Resort Marketing & Financing (now known as Summit Resort Marketing Group, Inc). I was told that they had a buyer for my two timeshare properties and they would close the deal, but they needed my checking account information so the escrow company could deposit the $57,800 selling price. I would not have to pay anything up front, but the would be charging my account $9,000+ when the buyers completed their end of the deal.

(READ FULL ARTICLE HERE )

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CNN – The Timeshare Trap

January 31st, 2009




The Timeshare Trap - Frustrated with fees, timeshare owners struggle to donate, sell or give away vacation property.

April 3, 2002: 1:01 PM EST By Sarah Max, CNN/Money Staff Writer

NEW YORK (CNN/Money) – If you’ve attended a timeshare sales pitch for free Sea World tickets or a round of golf, you know how easy it is to walk out with not just the freebies, but a lifetime of annual vacation shares as well.

Trouble is, it’s not so easy to dump that timeshare down the road.
(click HERE to read Full CNN Money Article )

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NUWIRE ARTICLE: Top 5 Reasons Why Timeshares are Horrible Investments

January 31st, 2009

Top 5 Reasons – – Why Timeshares are Horrible Investments

As a timeshare owner and someone who has consulted for a timeshare company, I can assure you that timeshares are poor, even horrible, investments.

Here are the top 5 reasons you should never consider timeshares as an investment.

(( CLICK HERE TO READ FULL ARTICLE ON NUWIRE INVESTOR ))

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Class Action Lawsuits – RCI

January 30th, 2009


RCI Hit With Class Action Suits

Complaints filed same day allege improper rentals, fraud

Two separate class action Complaints, co-incidentally both filed on March 14, 2006 in New Jersey, charge RCI with fraudulently marketing its exchange programs because weeks that are spacebanked or converted to points by its members are rented to the general public instead of remaining available for exchange by Weeks and Points members.

The suits allege that RCI makes more money from renting the weeks than it makes from the exchange fees, and that rentals of prime weeks are made to non-members through a variety of websites having secret agreements with RCI.

(Click Here to Read Full Article )

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Attorney General Bill McCollum of Florida Warns Consumers

January 30th, 2009

Attorney General Bill McCollum
News Release
July 13, 2007

Media Contact: Sandi Copes

Phone: (850) 245-0150

Attorney General: Beware Foreign Timeshare Investments

~ Advisory follows increase in number of complaints reported to the Attorney General’s Office ~

TALLAHASSEE, FL – Attorney General Bill McCollum today issued a consumer advisory, encouraging Floridians to be cautious when booking timeshare reservations or vacation memberships in foreign countries, particularly Mexico. The Attorney General noted that his office has received an influx of complaints from citizens who have been scammed by less than reputable travel companies offering ideal vacations to these locations but often falling far short of operating under fair business practices.

( Click Here to READ FULL ARTICLE )

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Value of Your Timeshare – What if You Invested the Same Money ?

January 29th, 2009


I was curious what a timeshare owner could do if they were to take the same amount of money that a timeshare costs and “INVEST IT” into a mutual account.

So I contacted a financial advisor and asked him where I would be financially if I invested the money into a mutual fund.

This is what he came up with for me from “THE LATTE FACTOR” :

If you place $15,000 into an account earning an annual return of 7% and deposit $600 at the beginning of each year, then in 35 years your account will grow to $248,897.00

$248,897.00 !!!

The difference between the rich and the poor is planning ahead and making smart choices !
Think Ahead …

READ MORE FROM DAVID BACH’s LATTE FACTOR

“A latte spurned
is a fortune earned.”

- People Magazine

(( USE THE LATTE CALCULATOR by Clicking Here ) )

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CAPE TIMESHARE BECOMES NIGHTMARE

January 29th, 2009

( CLICK HERE TO WATCH VIDEO )
Cape Timeshare Becomes Nightmare
Team 5 Investigates uncovered a timeshare nightmare on the Cape and one man who, owners said, owed them thousands. Now they’ve uncovered a whole new nightmare development — traced to the same financially troubled developer.
SEE FULL STORY


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CALL 3 Investigation of Free Prizes with Holiday Travel of America

January 29th, 2009

Video: Is Promise Of Tropical Vacation Worth It?

Hawaii For $100? BBB Logs Trail Of Complaints

Travelers Face Many Restrictions
POSTED: 8:06 pm PDT May 5, 2008

NAPA, Calif. — Sitting through a sales pitch in return for a $100 trip to Hawaii sounds like an easy deal.
The company behind a mailer sells vacation club memberships. To get the free trip — including airfare and accommodations for two — you have to sit through a 90-minute sales pitch.
At a business park in Napa, KCRA 3 listened to the presentation, declined the vacation club offer, but then asked for the free trip.

The travel club company delivered, and KCRA 3 walked away with a VIP Hawaiian Holiday certificate, good for two round-trip coach tickets and two nights in economy accommodations.
The certificate had to be completed and mailed in within 45 days or it would be void.
Next came a letter requesting travel dates — Tuesdays through Thursdays only — plus an airline and hotel tax deposit of $100.

Mike and Sandy Carson, of Novato, went through a similar process and opted to pay more to extend their trip.
“We put in certain dates, but if you look on the card, there’s a lot of dates blacked out,” Mike Carson said.
KCRA 3 chose two sets of dates, but the redemption company said neither was available.
A third and fourth set of dates were also declined, as were the fifth and sixth sets of dates in March and April 2008 — even though KCRA 3 received its travel certificate in August 2007, and the redemption company cashed the deposit check a month later.
After rejecting all six travel dates, KCRA 3 called the redemption company, Holiday Travel of America, to complain.
Customer service said it could confirm Sept. 9 to 11, but that those dates had to be booked right then and there — and KCRA 3 had to fax back a confirmation letter with a credit card number. The company would charge $75 to $150 if the reservation was cancelled or if no one showed up.
The Better Business Bureau of San Diego said other people have had trouble, too: Holiday Travel of America has an unsatisfactory record because of a pattern of complaints.
People said they can’t get valid travel dates, and when they give up and try to get their deposit back, refunds are delayed.
Holiday Travel of America’s owner said over the phone that the company handles 30,000 to 40,000 transactions each year and has thousands of happy travelers. Customers have to read terms and conditions and disclosures and understand that promotional travel is all on space available.
He said his company makes mistakes but tries to fix them.
The company did confirm the travel dates in September, but no one could give a specific airlne or hotel.
But the Carsons gave up on their trip and asked for a refund, which they got. But Sandy Carson said she thinks most people give up before getting their money back.
“You get $100 from everybody, and they don’t pursue it — probably 80 percent don’t pursue it — and they make a bundle,” she said..
SEE ARTICLE : ( click here )
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