Timeshare Trends Blog

Consolidated Resorts is a Las Vegas based timeshare operator and runs 14 properties that include the Tahiti Village, Tahiti and Club de Soleil timeshares in Las Vegas; as well as timeshare operations in Hawaii and Florida. The sales and marketing operations have at least temporarily closed, but the resorts have remained open for use by timeshare owners. According to a spokesman for Consolidated Resorts, the bankruptcy filing has nothing to do with the timeshare owners, and the owners are in fine shape.

Consolidated Resorts has 5,000 to 10,000 creditors, apparently including many timeshare owners as well as trade creditors and individuals and other parties involved in litigation with Consolidated. Consolidated Resorts listed assets of $50 million to $100 million and liabilities of $100 million to $500 million.

While the company has not spelled out any further financial details in their filings, a lack of financing for timeshare buyers and dwindling inventory contributed to the filings, a source involved in the case said. The filing has curtailed expansion of the Tahiti Village, once known as the fastest selling timeshare in the country.

Bookmark To: