Bad news continues to plague the timeshare industry.
The recent financial failure of Ultimate Escapes is followed by another bankruptcy by another timeshare related company in Orlando – Island One Resorts. Together with its affiliate Island One Resorts Management Corporation, the company had just filed for protection under Chapter 11 in the US Bankruptcy Court for the Middle District.
According to the CEO of Island One Resort, Deborah Linden, the move lets the company to fulfill its restructuring plan, started out in the late 2008 to balance the company’s debt and equity components. She added that the filing of bankruptcy will facilitate the company’s capability to carry out an equity transaction within 3 months with their equity partner. Restructuring puts the company in a good position to push forward with the sufficient capital for long-term stability.
Island One suffered a huge blow during the peak of the economic recession, as seen in the sharp decline of its revenues and shortage of business capital. The company at its peak is proud to proclaim that it has 65,000 members and access to 29 resorts in North and South America, Europe and the Caribbean.
Linden also asserted that the company will continue to offer incredible vacation experience adhering to its core values of Caring, Passion, Innovation and Integrity. For almost thirty years, Island One Resort had given owners and guest with remarkable vacation memories and will maintain and establish upon that record. The company relies on its team in place in all aspects of their operations as they will go forward in developing vacation products, amenities and services.
The struggling company emphasized that its vacation club, Club Navigo, not affected by the restructuring. Operations of the company at its Orlando headquarters continue as normal together with its nine resorts scattered along Florida and the Caribbean. The resort associations will go on as before and remain entirely unaffected. Sulyn Stumbras, president of IORMC and Club Navigo, stated that they are looking look forward to continuing to provide outstanding hospitality and service to our owners and guests.
The two recent timeshare companies’ financial downfall is an indication of the continuing struggle of the industry. Despite the company’s emphasis on being unaffected, it is undeniable that many timeshare owners are seeking for timeshare exit solutions. One company that genuinely helps people having this problem is Timeshare Relief, Inc. This is no timeshare resale company but it helps people get out of their timeshare contract through a guaranteed transfer system.
The recent financial failure of Ultimate Escapes is followed by another bankruptcy by another timeshare related company in Orlando – Island One Resorts. Together with its affiliate Island One Resorts Management Corporation, the company had just filed for protection under Chapter 11 in the US Bankruptcy Court for the Middle District.
According to the CEO of Island One Resort, Deborah Linden, the move lets the company to fulfill its restructuring plan, started out in the late 2008 to balance the company’s debt and equity components. She added that the filing of bankruptcy will facilitate the company’s capability to carry out an equity transaction within 3 months with their equity partner. Restructuring puts the company in a good position to push forward with the sufficient capital for long-term stability.
Island One suffered a huge blow during the peak of the economic recession, as seen in the sharp decline of its revenues and shortage of business capital. The company at its peak is proud to proclaim that it has 65,000 members and access to 29 resorts in North and South America, Europe and the Caribbean.
Linden also asserted that the company will continue to offer incredible vacation experience adhering to its core values of Caring, Passion, Innovation and Integrity. For almost thirty years, Island One Resort had given owners and guest with remarkable vacation memories and will maintain and establish upon that record. The company relies on its team in place in all aspects of their operations as they will go forward in developing vacation products, amenities and services.
The struggling company emphasized that its vacation club, Club Navigo, not affected by the restructuring. Operations of the company at its Orlando headquarters continue as normal together with its nine resorts scattered along Florida and the Caribbean. The resort associations will go on as before and remain entirely unaffected. Sulyn Stumbras, president of IORMC and Club Navigo, stated that they are looking look forward to continuing to provide outstanding hospitality and service to our owners and guests.
The two recent timeshare companies’ financial downfall is an indication of the continuing struggle of the industry. Despite the company’s emphasis on being unaffected, it is undeniable that many timeshare owners are seeking for timeshare exit solutions. One company that genuinely helps people having this problem is Timeshare Relief, Inc. This is no timeshare resale company but it helps people get out of their timeshare contract through a guaranteed transfer system.
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