EdB
(Traveler)
10/19/14 02:48 PM
99.71.168.63
Re: Caravanserai now Alegria

As I stated before...way early in this mess.....The Caraversarai went bankcrupt...period. The business kaput. New owner steps in, and can do with it as he deems fit.

Timeshare is a risk...and I own three weeks at another resort...but no one can guarantee the future...and the handwriting on this resort has been so plainly in ones sights for years now. The lies and deceit has been ongoing from day one... starting with the promise of a completion date years off the mark.
Just like any other business, building, etc...if one does not pay the bank....the bank can foreclose. Not too much different than a regular homeowner that does not pay his mortgage...the bank eventually comes in, and takes the property, and even though this particular person had a deed on the property, it is lost to him, and the bank sells it to someone else. This is basically what happened at this resort...Manek took all the money, did not pay off his debt...he lost the building, and now the bank sold it to someone else. Manek took off with money, and this new owner bought the land and the buildings...but the companies that actually owned the timeshares went bankcrupt....thus...the new owner never made a dime off of the sales...and is willing to give one use of a hotel for the maintenance fee that was agreed upon. I agree if a case is to be made..it should be against Manek and his companies....but futile going after the new owner who had nothing to do with the original agreeements.



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