Tuesday, June 30, 2009

Update for Owners of Resorts Managed by Consolidated

As reported last week, Consolidated Resorts filed for Chapter 11 bankruptcy and closed down all sales and marketing efforts. This week they have confirmed that the management company for their 13 timeshare properties was not impacted. It was the sales and marketing department within the company that closed down, so, there is no active sales force trying to get new timeshare owners for the properties.

If you are an existing timeshare owner at any of the 13 resorts in Hawaii, Orlando or Las Vegas, you can breathe a sigh of relief. The resorts are staffed and operating as usual. You can take your vacation week, as scheduled, at your property and you should continue to pay your maintenance fees as usual. See our earlier report for a complete list of the 13 timeshare resorts.

These resorts are still available for rent, resale and exchange on RedWeek.com. The parent company filing bankruptcy has no effect on the management and operations of the individual resorts, or on the membership status of existing timeshare owners.

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