Aruban Resort bought by Carl Icahn group

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

It was reported this week that Icahn Partners bought the Aruban with the intention of building a " world class casino" and selling the unsold timeshare inventory.

They have hired a former Manager of the Tropicana Casino in Las Vegas who will be in charge of the new Casino as well as first re-opening the Key Largo casino, closed last year when the resort closed.

No mention yet if the Royal Resorts will continue managing the resort. The resort re-opened at the end of January after being closed for about six to eight weeks and appears to be in fairly good shape. They have also been relisted by II.

This was an amazing rescue by a group of owners that sued the bankrupt KL properties which had been the previous owner of the resort. About 80% of the timeshare units remain unsold.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

80% unsold????
That is a lot of inventory to move at developer pricing at this time.

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

80% unsold????
That is a lot of inventory to move at developer pricing at this time.

I agree....That's a lot of units to sell in this market.