Posts filed under 'Celebrity Resorts'

Celebrity Resorts Post-Bankruptcy – A New Legacy

Celebrity Resorts LLC made headlines in March of last year when it filed for Chapter 11 bankruptcy protection, but according to an Orlando Sentinel article financial problems may have started as early as 2008. While these types of bankruptcy filings rarely affect individual ownerships, they certainly undermine consumer confidence in a specific resort or developer, bringing down resale values. For owners of Celebrity Resorts timeshares, the company’s recent reorganization is welcome news: The new company is called Legacy Vacation Club.

Will the new name mean a new legacy for Celebrity Resorts and its owners? Quite possibly. The family-owned company has been selling timeshares for over 30 years, making it one of the most experienced resort developers in America. According to company lawyers, Celebrity Resorts exited bankruptcy intact, and with no job losses. In addition, Legacy Vacation Club has announced plans to implement its own internal “points” program, that will offer owners more flexibility. What may ultimately mean success for Celebrity Resorts, however, will be whether it can adapt its sales strategy to the tastes of a new generation of buyers. There are only so many upgrades that can be sold to aging timeshare owners; lasting success for any timeshare developer hinges on bringing new and younger buyers into the fold.

Just as generational differences have proven difficult for the timeshare industry, it’s generational differences within the Meyers family that have been blamed for the bankruptcy and subsequent reorganization of Celebrity Resorts. Brothers Neil and Hillel Meyers were the original developers of Resort World, predecessor to Celebrity Resorts, and remain legendary figures in Orlando’s insular timeshare community. Reportedly, disputes between Hillel Meyers and Neil Meyers’ son Jared led to partitioning the company in 2003. During last year’s bankruptcy proceedings, control of the company was hotly disputed between various family members, but the company’s reorganization plan approved this January leaves 34 year-old Jared Meyers in control as President and CEO. With a gen-xer at the helm, perhaps Legacy Vacation Club will succeed where Celebrity Resorts failed; retooling the timeshare sales process for internet-savvy younger buyers.

For now, all former Celebrity Resorts properties have been renamed to reflect the Legacy Vacation Club brand, and all resorts are now listed with both RCI and Interval International. Existing owners that want to sell their Celebrity timeshares will, no doubt, benefit from the re-branding; gradually escaping the stigma of bankruptcy. And while there are parts of the timeshare community that might still be skeptical of the new entity, I’m excited to see what the future holds. Best of luck to Jared Meyers and Legacy Vacation Club!

Popular Legacy Vacation Club Timeshares Include:
Legacy Vacation Club Orlando – Oaks
Legacy Vacation Club Orlando – Spas
Legacy Vacation Club Steamboat Springs – Hilltop

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2 comments June 21st, 2011

Who is David Walley? Discovering David Walley’s Resort, a Timeshare in historic Genoa, NV

Timeshare ownership and American history meet at a unique resort in Carson Valley, Nevada: David Walley’s Resort!

Considered by many historians to be the first settlement in Nevada, Genoa was established in 1851 by a group of Mormon pioneers. The small corner of the lush Carson Valley eventually became a prominent stop on the emigrant trail to California. David Walley was one such New Yorker who ventured west seeking his fortune.

In 1860, David Walley found a natural hot spring near where he’d been working on a tunnel project. He and a partner purchased the spring, and began charging $.50 for a bath in its therapeutic waters. By the 1900’s, Walley’s vision of a luxurious spa and hotel at the site was realized, and his resort was billed as the “leading spa of the pacific.” Famous visitors to Walley’s have included Mark Twain, Gen. Ulysses S. Grant, Clark Gable, and Ida Lupino.

Today David Walley’s Resort, formerly known as Celebrity Resorts Carson Valley, is a luxurious timeshare development, offering its owners and guests a unique vacationing experience. The hot mineral springs are located on-site, along with a full service health spa, and restaurant.

Units at David Walley’s are 2-Bedroom/2-Bath lock-outs that sleep either 6 or 8 people, and feature luxurious furnishings, a fireplace, full kitchen, and a whirlpool tub in master bath. Amenities are of such quality, Interval International has awarded the resort its Premier rating for superior timeshare properties!

Want to find out more about David Walley’s? A limited number of timeshare resales and rentals are available now at low for-sale-by-owner prices.

2 comments November 27th, 2009


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