Lowveld to go the way of DIK and Seapointer?

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

OY, someone got an e-mail saying Lowveld is to become straight full-time rentals, so TS owners will have on access to their weeks. Mr. Stuart Lamont has his fingers in this scheme for sure. I personally have not received any communication, so I'll just sit tight for now, and try to use up my banked weeks.Any of you heard anything?

Dori

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

Lowveld is managed by ''The Bullfrog'''s management company, First Resorts, and the email in question, which was posted OY refers to another Club Leisure Group company deciding to take this resort from timeshare to private rentals, apparently on a monthly residential basis. As usual lately, this is another variant of the Bullfrog's scams to deprive timeshare owners of their property and put it in his pocket.

Bullfrog Lamont uses weeks owned by his points clubs to get control of resort associations. Due to individual owners not bothering with proxies, getting 20 to 30 percent will often do the trick. Then he installs all Club Leisure Group operatives to control the board. He is usually chairman himself. Others usually include a former police general from the old apartheid regime who is one of his right hand men. This board then gives the management contract to Club Leisure's management company, First Resorts.

Lately, he has added another dimension, which is crashing the resorts, running off the timeshare owners so that he can use the property for another purpose for his own profit.

Looking at the terms the Bullfrog is dictating here, it is likely that many owners will just surrender ownership, which is exactly what he wants and just makes him richer. However, not doing so is fraught with peril. When froggy's management company is deciding who to rent to, the units represented by the weeks owned by froggy's points clubs will always be rented first, along with those froggy gets from owners surrendering their weeks. The week of an individual owner might or might not get rented, so if not they have to pay the levy (maintenance fee) but cannot use the week or deposit it for exchange, so they get no return on that. Who is going to take that risk? As more people bail out, the odds of an individually owned week being rented will go down as there will be more and more of froggy's weeks that are first in line.

He has already destroyed The Seapointer in Capetown and Tenbury in Durban. Now it is Lowveld Lodge's turn. Anyone who owns a resort managed by the thugs of First Resorts should take note.

Oh, and Lamont was halted in his attempt to gain control of the Dikhololo board. Tenbury is the other resort he has crashed.

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

Carolinian, thanks for correcting me and for your detailed information.

Dori