Reunion Resort (Formerly Ginn Reunion Resort) Affiliates with Wyndham Hotels and Resorts
Over the next several weeks, new signage will begin to appear bearing the new name: “Reunion Resort and Club, A Wyndham Grand Resort”.
Palm Coast, FL – February 27, 2010 – Persistent rumors often turn out to be pre-released truths. It’s official. Ginn’s Reunion Resort which shed the Ginn brand a year ago is being re-branded. The resort near Orlando and Disney World has affiliated with Wyndham Hotels and Resorts. The announcement was made yesterday via a communications to members (below).
A Hammock Beach Club member with whom I spoke had not received any communications. A spokesperson for Reynolds at Hammock Beach said there were no similar plans for the Hammock Beach Resort.
It is a pleasure to announce that Reunion Resort has become affiliated with Wyndham Hotels and Resorts. Effective immediately, Reunion will gain worldwide exposure through Wyndham’s global marketing and reservation systems.
With over 7,000 hotels, Wyndham has a property in almost every conceivable market segment. In a nod to Reunion’s tradition of high quality and exclusivity, it will be one of only two U.S. resorts offered through their Grand Resort Collection, the most luxurious and amenitized properties in the Wyndham portfolio.
Over the next several weeks, new signage will begin to appear bearing our new name: “Reunion Resort and Club, A Wyndham Grand Resort”. The name is slightly different, but it is extremely important for everyone to understand that the resort will continue to be managed by Noble Investment Group and Reynolds Management and Development Group.
Although this partnership is the culmination of months of hard work by the Reunion and Wyndham teams, we have no intention of slowing down. We will continue to seek opportunities that will further solidify Reunion’s reputation as a premier vacation and golf destination and a vibrant, welcoming community. On behalf of the entire resort team, we once again want to thank you for your continuing support of Reunion.
Gary Rosenberg │Noble Investment Group
Mike Searles │Reynolds Management & Development Group
Toby’s Commentary: The affiliation should help counteract what has been a sagging market for the resort.
Reunion Resort
It doesn’t matter what Lubert Adler do with Reunion it will not succeed while they pull the strings. Mike Searles and Reynolds are the new Ginn and nobody likes or trusts them. Noble have failed badly and are pretty much invisible.
Reunion needs to be sold to a Developer who will put money into the Project and finished what was promised unlike Lubert Adler who just sucked every Community and Owner dry and never completed anything.
Searles and Reynolds came in with a big smile and many promises, but have failed to deliver on anything, they are running these Communities into the ground, in my opinion, to buy them for cents on the Dollar with Lubert Adler’s money and then Lubert Adler will have wiped out all the debts and still keep the Properties destroying everyone else in their path. Don’t forget they did the same thing in Laurelmor, bought for cents on the Dollar, hopefully they will not get away with it.
Good
I think all of the former projects are going to be much better off with some rebranding. Wyndham is a good quality name that should help things along at Reunion. They won’t change the current market conditions but long term I think this is a good move for everyone.
Bankslayer
Bankslayer,
At this point it is evident that you are not a big fan of Ginn or Lubert Adler. You adamantly believe that anything that either party is involved with is doomed to fail. I don’t agree or disagree with that, I suppose I have no opinion. However, why don’t you believe that a quality brand like Wyndham involving themselves with the project is a good thing? You say that a developer needs to buy the project and put money into it?? Why on Earth would a developer want to buy a half built project and pour millions and millions of dollars into it when the real estate market is arguably the worst market in history?? From a business prospective it just wouldn’t make sense.
The poor market conditions aren’t just in self contained bubbles of projects that were built by Ginn and/or backed by LA. The market is horrendous everywhere. Clearly the market within certain communities owned by Ginn have been hit hard possibly due to fraudulent activity which you have mentioned in previous posts, how is that lawsuit progressing by the way? The first one got kicked out of court if I understand correctly.
Anyhow, I understand you and many others were burned by many of the con-men that were in the RE game at the time. But a good sign is a good sign and I don’t see how Wyndham partnering up should be looked at as a bad thing.
I just think that at one point everyone was looking through rose colored glasses and things looked great (2005). Now people can’t see straight because they are mad as hell. People should embrace good news and hold onto it for dear life, there hasn’t been too much of it to go around lately.
just in name only
john , all of us that got screwed by the crooks adler/ ginn would wecome any GOOD news at reunion.But the fact remains that adler is still the owners and wyndham is here in name only. They are not calling any of the daily shots. Remember when they announced renolds/ nobal coming to reunion, everyone’s hopes were lifted for about a month.Then looked what happened, seares and co. drove it further into the ground.ADLER/ crooks still call the shots here and untill they are out of here completely NOTHING is going to change, no matter who’s name they use.
wyndam/ginn/reynolds/noble/adler
THESE GUYS ARE PLAYING THE SAME OLD GAMES THAT GINN PLAYED YEARS AGO. HE IS BEING INVESTIGATED BY RICO NOW AND THE REALTORS THAT ARE WORKING THE FRONT DESK LED BY THE BUMBLING LIAR SEARLES ARE STILL PLAYING THE GINN GAMES AS WE SPEAK.
IF YOU BUY A CONDO NOW THEY THROW IN THE FURNISHINGS THAT THEY CLAIM ADDS UP TO 80K AND ALSO THROW IN TWO YEARS OF FREE MEMBERSHIP. ALL OF THIS IS ADDED TO THE PRICE OF 210,000 FOR THE CONDO COMING TO A GRAND TOTAL OF 290K..THEN ALL OF US IDIOTS WHO CURRENTLY OWN HERE GET APPRAISED AT A INFLATEED AMOUNT.THE FRAUD CONTINUES AND JOHN IS LOOKING FOR THE ROSE COLORED GLASSES.
WHEN ARE THE PEOPLE HERE GOING TO OPEN THEIR EYES AND PUT THESE CROOKS OUT OF BUSINESS. STOP PAYING DUES AND PULL YOUR PROPERTIES OUT OF THE RENTAL PROGRAMM AND GINN/ADLER/REYNOLDS ET AL ARE GONE
Bankruptcy for Nicklaus Course…
Rumors abound that Nicklaus course is in possible foreclosure…what say you toby???
Reunion Resort
To answer the question re-nicklaus in Reunion. The Nicklaus Course is subject to a $70m mortgage along with other land in Reunion, this mortgage like many other loans taken out is not being serviced so I have been informed, I cannot say too much more as this could be the subject of the largest Class Action of all, which I am negotiating at the moment.
I have always said Reunion could go Bankrupt and with Mike Searles in charge he has accelerated the process, this could be because they want to buy at 10 cents on the dollar like they did in Laurelmor with Lubert Adler once again as a Financial partner.
There is no question in my mind these guys are all in this together, but they will not win, I will guarantee their days are numbered and that is my goal!!
Reunion Golf
My daughter recently played in a junior golf tourney there that Annika hosted, the Watson course. What a great golf course and resort all together. I inquired about real estate while visiting and viewed what I thought were a couple of beautiful units priced between $250K and $300K. It’s my understanding that these units were originally sold for roughly $600k and I couldn’t help but ask myself, who would pay that kind of money for a 1700 sq ft condo in middle florida, I mean Reunion is nice but I didn’t see the Atlantic Ocean on their grounds. Must be those that got caught up in the real estate game, guess that’s where all the negative comments are coming from. Anyway, beautiful resort, we’ll be back next year, maybe as property owners.
Henry
re: bankslayer
Bankslayer,
Is this another class action suit that is being worked up or one of the existing ones? Is it specific to the Reunion resort?
Thanks
hope to see you soon henry
henry i hope to see you soon at reunion as a owner..please go buy one of those beautifull condos so you can see how crappy this place is run on a day to day situation…when you become a member ,maybe you will get on a plane and fly down here and go to the golf shop only to told "i will try to get you out" because you are only paying 600 dollars a month to be a "member" on a course but i cant get you out because there is a annika group on watson, the girls scouts of orlando on palmer, and maybe the sons of obama golf group on nichlaus,but "do you want to play the hyatt" course. jump in your car and go play there henry….hurry up and buy now before this whole place goes bankrupt…..or is this mike searles???
Reunion Resort
Hi John,
There are two more Class actions being planned, one of them Specific to one Ginn Community and the Other one will include 4 Ginn Communities, Reunion may be added.
As for the Guy who says people got caught up in the Real Estate high, it is easy to judge. But when Ginn sells Condos with $6,000 per month for 2 years as a leaseback and a $75,000 furniture package built in, out of $650,000 that is a third of the price of the Condo. When that is recorded as a Comp. it then sets the prices for everyone else, this is how the prices reached $650,000 and up. When they sold enough to Justify the comps they took away the lease back and furniture package, but kept the prices the same. This wasn’t a one-off it was done in Legends Corner to get prices up to $2.5m over $1m of that price was a lease back with furniture package, plus they had already inflated the lot prices by over $300,000 by using fraudulent appraisals, therefore 50% of the purchase price was fluff, now they are selling for about $800,000 or less, when they were originally appraised at $2.5m it was Criminal, but watch this space they have not gotten away with it, I see some people wearing Orange suits in the near future.
re: bankslayer
Thanks for the information. Wow, that would certainly get some attention. Good work on your research, I’m sure getting the proof wasn’t an easy task. It would be good to see some of these guys locked. I have to ask though, under the scenario that you describe with the furniture package, lease back, etc. I would think that the appraisers will take on a ton of that liability. Isn’t it part of their due diligence to check on that sort of thing before they send in an appraisal?
Any hope for the suckers that bought at Conservatory?
Thanks for the update.
Reunion Resort
John In my opinion the Appraisers knew exactly what they were doing and as long as they were getting these appraisals they would do whatever it took to get the appraisals at the selling price, if they did not they would not get used again so they were under pressure to get the figures to work.
As for the Conservatory, I have a way out for owners contact me at bankslayer@gmail.com
re: bankslayer
bankslayer,
I just tried to email the gmail account you listed but it got returned as undeliverable. I am trying to send from hotmail. Is there an alternate email that I can try?
Thanks,
John
Reunion
Sorry John that should be thebankslayer@gmail.com