Response - Maxim / Sun Village - Page 3

planner · #21 09-25-2008, 04:00 PM

Took a while but here you go - rights to run a "timeshare operation" have been sold or leased to Guilermo Castillo and partner (not sure who) used to be involved in timeshare business at Breezes.

Apparently opened sales last Thursday - good pricing - similar to Breezes - but better hotel. They are affiliated with Interval International. All Inclusive will be mandatory, not sure on pricing of this.

Apparently renamed - The Bungalows.......... Hope that helps you.

Conchman · #22 09-25-2008, 04:28 PM

Quote:

Originally Posted by champ

so does the elliots have the legal property titles to show that they in fact own the beach at cofresi between sun village and ocean world property as they have the for sale signs up that its there property priced at $27,000,000.00,,,or are we seeing more hot air coming from the elliot group,,,can anyone post a picture of there sign at cofresi beach,,im sure conchman will know who is his neighbors are?????

A company controlled by the Elliotts and another businessman have title to the land by the beach, I have seen it (at least it looked like the title). They are selling it together with land across from the entrance of Ocean World where the old hotel rooms used to be, by the hillside. For both tracts together they are asking US$25M and they are not willing to sell pieces or even the two tracts separately, I am sure this position will change soon, once they realize its impossible to sell this at $25M. This is a pipe dream, in todays market they would be lucky to get $6M. Anybody proposing to build on the beach land will run into heavy (and legal) opposition from the Junta (Cofresi Owners Assocation).

I don't have a pic of the sign at the beach, but its just a proposal of what can be done with the land, it is not a project they are planning on doing themselves.

Robert · #23 09-25-2008, 06:02 PM

They need to actually re-develop the beach in order to build on the land as it comes under the 60M high tide law. That's going to be VERY expensive!

kashbarker · #24 09-26-2008, 12:05 AM

Thanks for the info. I just hope that the Elliott's are smarter moving forward and that this will all work out in the end. A friend of mine went to her fortune teller and was told that it will be a while, but that things will work out for her benefit. She was worried that she was going to loose her money she invested with Elliott's. So there you have it, if you believe in fortune tellers, things will work out.

abe · #25 09-26-2008, 09:27 AM

It will take a long time for timeshare sales to make an impact on the situation. Even though many timeshare buyers are not exactly the sharpest knives in the drawer, the mandatory all-inclusive component makes the economic argument in favor of timeshare even more difficult to swallow.

The reality is, as I mentioned earlier, that the relative isolation of the resort makes it harder for a timeshare buyer to patronize other restaurants, grocery stores, etc.--thus the A-I should NOT be mandatory. Because the buyers will wind up taking it anyway once they find out how far they are away from other options.

Perhaps the way it should be sold is--once the prospect says that they love the program except for that A-I requirement....... "Mr. and Mrs. Prospect, if you join us today, I will waive the requirement that you take the A-I package."

No matter what similar "closing tools" they utilize, it will still take a long time to see any impact from timeshare sales by using a local team--the resort needs to sell "bungalow" inventory to a major company.

Oh yeah, and send the "S-elliots" packing.

planner · #26 09-26-2008, 10:48 AM

Quote:

Originally Posted by kashbarker

Thanks for the info. I just hope that the Elliott's are smarter moving forward and that this will all work out in the end. A friend of mine went to her fortune teller and was told that it will be a while, but that things will work out for her benefit. She was worried that she was going to loose her money she invested with Elliott's. So there you have it, if you believe in fortune tellers, things will work out.

Based on the Elliott track record - do you actually expect that???

I have more faith in your friends fortune teller!

STEVE G. · #27 09-27-2008, 11:20 AM

Any commentaries from any participants of online conference hosted by the Elliott Group last night ?

Robert · #28 09-27-2008, 12:23 PM

I listened in last night. Great timing, when the presidential debate is on. I'm sure that wasn't done on purpose

Sob story at the beginning, Fred has lived in the same house for 20 years, only drives a Ford 150 etc. Forget to mention their extensive land assets in a few parts of the DR that are worth millions! They then moved on to explain why the problems happened and what needs to happen. New people, new deals, cost cutting etc etc.

Bottom line, they have no cash but plenty of assets and they are looking at the investors to bail them out. The investors have until Oct 15 to make a decision on what direction they take, lets see what happens.

I'll give them credit for opening up to the investors and trying to make them aware of whats going on. I just hope it's not more spin and BS.

planner · #29 09-27-2008, 01:36 PM

This is not the first time they have done this - just not in this particular way. They always seem to have explanations and reasons - none of which involve any of them taking responsibility.

Unfortunately I think it is more BS! The investors should pull the plug, fire these incompetants, take over and bring in their own board of advisors to run the place!

kashbarker · #30 09-27-2008, 04:01 PM

Quote:

Originally Posted by planner

This is not the first time they have done this - just not in this particular way. They always seem to have explanations and reasons - none of which involve any of them taking responsibility.

Unfortunately I think it is more BS! The investors should pull the plug, fire these incompetants, take over and bring in their own board of advisors to run the place!

For those of us not aware of "the first time they have done this", will you please shed some light as to what happened before??? If we are to attemp to "pull the Plug" and "fire the incompentants" etc. We will need more ammo(information) to help us (investors) move forward. Otherwise, I don't see many options, but to work with the Elliott's and hope that things will work out. We can still take fall back on Legal action, but I'm using that as my last resort. I'm more that willing to listen to other options, more than what the Elliott's are offering. Thanks for your help with this matter.