Fairmont Properties restructures debt..

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Fairmont Resort Properties Ltd, one of the largest Canadian owned timeshare developers, issued a press release indicating that they were able to restructure corporate debt, reducing fears of bankruptcy due to a lack of available funding.

Fairmont properties include Riverside and Hillside Villas, Lake Okanagan Resort, Costa Maya Reef Resort, Oasis Resort in Mesquite Nevada, the Shuswap Lake Resort Club (houseboats), Makaha Resort & Golf Club, Royal Host Inc. (which includes the Portofino Resort in Cabo San Lucas and Banff Rocky Mountain Resort along with several houseboat sites), and the Rancho Banderas Resort and Club.

[chellej Senior Member Find all posts View Profile Close chellej]

This is good news as I am scheduled at Rancho Banderas in June.

I wonder what would happen if a company went bankrupt. If they were restructuring I guess it wouldn't matter but if they went out of business - I guess booked time may be lost

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Fairmont changing management company...

I just spoke with an employee there, who stated that they were in the process of a major change to a new management group (I haven't seen anything official released yet)...

The employees expect that most will be terminated, and then select individuals rehired. If you are involved in a transfer, expect at least three weeks or so with delays as the new group gets settled in.. Once I get info on any changes to the transfer process- I'll add it to the Transferring Ownership forum.

[Alex2008 Junior Member Find all posts View Profile Close Alex2008]

Fairmont Properties

What will happen to Fairmont? That is a good question. The next step is in the hands of the courts. The fifth extension of the CCAA goes through April 16th, 2010. Not sure how the assets will come out to the secured parties and how owners of time share weeks will make out. The documents by the Trustee are a interesting read. Does not look very positive.

Ernst & Young Inc. Restructuring Information

[littlechicken Junior Member Find all posts View Profile Close littlechicken]

Fairmont Resort Properties Ltd, one of the largest Canadian owned timeshare developers, issued a press release indicating that they were able to restructure corporate debt, reducing fears of bankruptcy due to a lack of available funding.

Fairmont properties include Riverside and Hillside Villas, Lake Okanagan Resort, Costa Maya Reef Resort, Oasis Resort in Mesquite Nevada, the Shuswap Lake Resort Club (houseboats), Makaha Resort & Golf Club, Royal Host Inc. (which includes the Portofino Resort in Cabo San Lucas and Banff Rocky Mountain Resort along with several houseboat sites), and the Rancho Banderas Resort and Club.

I just became aware there may be financial trouble with Fairmont Properties. We own at Hillside. Does anybody have any information about the situation? thanks. K

[barjjake Junior Member Find all posts View Profile Close barjjake]

Fairmont Resort Properties Ltd, one of the largest Canadian owned timeshare developers, issued a press release indicating that they were able to restructure corporate debt, reducing fears of bankruptcy due to a lack of available funding.

Fairmont properties include Riverside and Hillside Villas, Lake Okanagan Resort, Costa Maya Reef Resort, Oasis Resort in Mesquite Nevada, the Shuswap Lake Resort Club (houseboats), Makaha Resort & Golf Club, Royal Host Inc. (which includes the Portofino Resort in Cabo San Lucas and Banff Rocky Mountain Resort along with several houseboat sites), and the Rancho Banderas Resort and Club.

We have had our houseboat bookings cancelled for 2010 at Shuswap Lake Resort Club and told no information on what is happening for 2011. It was taken over by Fairmount a few years ago. Has anyone got any ideas of where we stand or what our next step might be?

[flexible Senior Member Find all posts View Profile Close flexible]

Fairmont Resort Properties Ltd, one of the largest Canadian owned timeshare developers, issued a press release indicating that they were able to restructure corporate debt, reducing fears of bankruptcy due to a lack of available funding.

Fairmont properties include <snip> Costa Maya Reef Resort.

We exchanged through II for Costa Maya Reef Resort December 11-18, 2010. Is there any new information about Fairmont's status and whether we might be impacted? Thanks

[barjjake Junior Member Find all posts View Profile Close barjjake]

We exchanged through II for Costa Maya Reef Resort December 11-18, 2010. Is there any new information about Fairmont's status and whether we might be impacted? Thanks

Fairmount Resorts has been bought by Northwynd Resort Properties and has sold or is selling all the houseboats that WE bought. The land based properties should not change. We need to get info on all owners to proceed to court somehow. Any ideas?

[sunshinewa Junior Member Find all posts View Profile Close sunshinewa]

any updates on Sunchaser resorts? are they easy to trade for their other sites? I am considering a purchase of one of these resort timeshares. Thank you

[barjjake Junior Member Find all posts View Profile Close barjjake]

Sunchaser

any updates on Sunchaser resorts? are they easy to trade for their other sites? I am considering a purchase of one of these resort timeshares. Thank you

The only ones worth considering now are the POINTS system. They are about $3750 to convert weeks to points.