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january
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Joined: 07/25/07
Posts: 1294
Re: Caravanserai now Alegria [Re: bonsie]
      #1610566 - 10/19/14 02:44 PM (50.170.55.250)

If I read Marty's post correctly he is saying that the new owner is not going the timeshare route from now on, but the people that bought when it was a timeshare can still use their unit under the old terms if they agree to pay mx fees as they did before and acknowledge this by Nov. 1 2014. The confusion could be because of the wording that the new owners used when they said that the place was no longer a timeshare but a hotel and everyone jumped to the conclusion that their old contract would not be honored in any way. Perhaps it would be best to contact the new owner giving him your interpretation of the letter and see if agrees and if not ask for a clarification. Good luck.

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EdB
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Joined: 12/23/08
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Loc: Boynton Beach, FL
Re: Caravanserai now Alegria [Re: bonsie]
      #1610567 - 10/19/14 02:48 PM (99.71.168.63)

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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SXMWendell
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Joined: 11/27/02
Posts: 7051
Re: Caravanserai now Alegria [Re: january]
      #1610574 - 10/19/14 03:06 PM (76.206.17.83)

The new owner has offered, for the price of the old MF's, a weeks stay at the new hotel Alegria.

SXM??? Wendell


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Bob_Dot
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Joined: 07/31/03
Posts: 1804
Loc: North Kingstown, Rhode Island
Re: Caravanserai now Alegria [Re: oceanview17]
      #1610575 - 10/19/14 03:21 PM (68.109.114.220)

We former owners may have lost a week or two thanks to Manek's failures but, without a new contract, Marty and his help lost their livelihood. What more do you expect of him but to say he's sorry for us?
By the way, I've never had a weak Presidente.


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EdB
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Joined: 12/23/08
Posts: 2554
Loc: Boynton Beach, FL
Re: Caravanserai now Alegria [Re: Bob_Dot]
      #1610591 - 10/19/14 05:40 PM (99.71.168.63)

Marty hasn't lost his liveliehood..read his note...he has a new contract with the new owner.
I wish him well....


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EdB
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Re: Caravanserai now Alegria [Re: EdB]
      #1610594 - 10/19/14 05:59 PM (99.71.168.63)

IF..the new owner allows the old timeshare owners to continue using their weeks for only the maintenance fees...I myself can't think of what the difference would be to them, with the only exception being that RCI and ''trading to other places'' would be off the books. BUT, with a guarantee of the use of one's own unit, I think the new owner is being decent...since the Maint fees would probably be a lot less than a week's stay at the new resort.

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Carol_HillAdministrator
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Joined: 08/01/00
Posts: 63371
Loc: Central Florida!
Re: Caravanserai now Alegria [Re: EdB]
      #1610597 - 10/19/14 06:15 PM (72.60.87.122)

That is true, BUT!! for the near future anyway, unless they really discount the hotel rooms, no way they would fill the resort anyway. So, they get some income regardless.

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San
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Joined: 03/24/01
Posts: 344
Loc: Columbus, Ohio
Re: Caravanserai now Alegria [Re: Carol_Hill]
      #1610602 - 10/19/14 06:52 PM (32.211.77.55)

One of the differences, Ed, is that they can no longer sell their week because they don't own their week anymore. And if the week is deeded, they cannot pass it on to another person. We're talking about owners who have paid $10K at the low end to amounts much higher for penthouse suites and multiple weeks. The letter doesn't say how long the MF payments will be in effect, in return to stay in your unit. The letter is extremely vague and Ray Sidhom could easily decide to withdrawn his offer whenever he wants. So states the letter.

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plequerre
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Joined: 12/26/08
Posts: 993
Loc: Pittsburgh PA
Re: Caravanserai now Alegria [Re: San]
      #1610604 - 10/19/14 07:12 PM (71.61.63.173)

True. Alegria is under no obligation to extend this offer forever. Like Carol pointed out, it's an offer which will generate some short term revenue to Alegria, until the Hotel business picks up.
The new owner bought the property with a different business model in mind, and he's just trying to minimize his risk at the beginning.


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EdB
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Joined: 12/23/08
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Loc: Boynton Beach, FL
Re: Caravanserai now Alegria [Re: San]
      #1610617 - 10/19/14 08:28 PM (99.71.168.63)

San....i feel your pain. As i said, i am a timeshare owner myself. BUT, now at Caravanserai, there is nothing. It is bankrupt, and unfortunately, the timeshare owners are out of their investments. As I mentioned, the lawsuit if there is one, should be levied against Manek and Company....the new owner bought the property as a building only, and does have the right to do with it as he pleases..since the previous ownership went bust. It is never fun to lose money, but this was a disaster waiting to happen from it's inception. The timeshare owners lost their investment when the bankcrupty was declared. Now the new owner unfortunately have no ties to the old company, and can do with it as they deem fit. Sorry, just stating fact. Would it make a difference if the place was abandoned, boarded up, and later razed to the ground??? The timeshare owners would've lost their rights then too. Now, even though it stings, the new owner is offering to ''rent'' the units for the price of maintenance fees only. This will probably be a big discount.....and i am sure he feels that a few bucks is better than none...but it is little consolation for the people that gave away their hard earned money to a ''schemer'' who never followed up on any of the promises he made at the beginning. Will the new resort become successful is anyone's guess...but it sure leaves a blackeye on the industry. Most of the time, timeshare ownership works out..in this very remote case it did not.

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