The Resort Development Organization (RDO) sent out a consumer alert on its website against timeshare company River Marketing Ltd.

The Singapore-based firm has been allegedly using the RDO logo on correspondence sent out to consumers. RDO states the company does not have permission to use the logo and it has not applied for, nor been accepted as a member. The trade association represents the timeshare industry in Europe, and only accepts members who follow a rigid Code of Ethics.

River Marketing Ltd is suspected to be the same business as Worldex Pte Ltd, a company that was previously reported here due to the several questionable practices held against them.

These practices include offering to buy timeshare contracts from members, who have to wait 30-60 years before payout and profit. In addition, the company allegedly offers its own inexpensive holiday programs for a fee, which turn out to be more expensive than fees listed in hotel websites.

Worldex is also reported to collect “consultation fees” during presentations, which are not part of the membership fee. The company has already been red-flagged by the Consumers Association of Singapore

In an investigative piece by the Straits Times, reporters visited Worldex’s listed business address at the 6th floor of Tong Building in Orchard Road, Singapore. However, they found a company called River Marketing Ltd. A check with Singapore’s Accounting and Corporated Regulatory (ACRA) revealed that no such business exists with that name.

Members who have visited the River Marketing office have also noticed Worldex Asia letterheads on the company’s notice boards.

Wyndham Vacation Resorts Asia Pacific, a unit of Wyndham Worldwide Corp., plans to spend at least A$20 million ($18.5 million) this year in Australia and New Zealand to buy properties and introduce its Days Inn and Super 8 brands in the region.

The company may announce an acquisition as early as next month, Wyndham VRAP Chief Executive Officer Barry Robinson said. Wyndham club owners pay an up-front fee and annual levy for holiday credits issued each year, which can be used to buy time at any of the resorts in Wyndham’s and its affiliates’ networks.

“We have to buy assets to sustain the business,” he said in a telephone interview on April 28. “We have to buy something before the end of the year or we’ll run out of units to sell.”

Wyndham VRAP, whose parent announced a first-quarter profit of $50 million on April 28, cut about 300 jobs and shifted its focus to controlling costs rather than increasing sales as the global financial crisis curbed demand for new timeshares. The Asia Pacific business’s 2009 profit surged 69 percent to A$49 million even as sales dropped as its timeshare members continued to use the units they’d already purchased, Robinson said.

The Gold Coast-based company is now seeking to increase its customer base from the 43,000 timeshare owners in Australia and New Zealand, Robinson said, without identifying a target.

Wanaka, Denarau

Wyndham Worldwide, based in Parsippany, New Jersey, operates 12 hotel brands globally. It will “aggressively hit the market” to grow its Wyndham and Ramada brands in the region and introduce Days Inn and Super 8, Robinson said, via management and franchise agreements, rather than purchases.

Wyndham VRAP will this year start on the third phase of its new Wanaka project and expand its existing Denarau Island resort, both in Fiji, Robinson said. The company currently has 12 resorts in Australia and one each in Fiji and New Zealand.

The company plans to create mixed-use developments -- part resort, part hotel -- by seeking out distressed assets in the south Pacific region, Robinson said.

“There aren’t as many distressed properties in Australia as I would have expected to see,” Robinson said. “I’m not sure whether that’s because our interest rates are still comparatively low for our market, so banks and operators are able to hold on to them because they can justify the returns.”

As rates continue to rise, more distressed assets may emerge, he said. The Reserve Bank of Australia raised rates for the fifth time in six meetings to 4.25 percent on April 6.

Two Central Florida telemarketers were apprehended last April 25 for operating without a license.

Taken into custody by the Office of Agricultural Law Enforcement (OALE) were Gunnar Jenkins, 31, and Nicholas Thomas, 28, both from Orlando.

Jenkins is accused of operating Timeshare Gold Line, a telemarketing business with address at 7200 Ellenor Drive, Suite 202 in Orlando, without a license. According to Florida Agriculture and Consumer Services Commissioner Charles Bronson, the Division of Consumer Services conducted a compliance inspection at the address last April 22 and found that it lacked the necessary license. It was further determined that Jenkins had been previously warned for operating an unlicensed telemarketing business, in violation of Florida’s telemarketing laws.

During the inspection, authorities also discovered that one of Timeshare Gold Line’s employees, Nicholas Thomas, was soliciting sales without a license. Thomas had been previously cited for the same violation.

Thomas also showed authorities a Florida Identification Card, which was found to be altered. Upon further investigation, it was discovered that Thomas was in fact a Jamaican citizen, whose immigration visa had already expired. This made him ineligible to obtain a current identification card.

The two suspects were then taken into custody for violating the Florida Telemarketing Act, a third-degree felony in the state.

Both are currently held in the Orange County Jail. Jenkins was charged with operating an unlicensed telemarketing business, with bond set at $2,500. Thomas, meanwhile, faces charges of soliciting sales without a license and counterfeiting a Florida Identification card. Bond was set at $2,650.

The Florida Department of Agriculture and Consumer Services regulates the state’s telemarketing industry, through the Division of Consumer Services. Bronson encourages consumers to contact his office at 1 800 HELP FLA ( 435-7352 ) to check the registration status or complaint history of businesses. Consumers can also call the toll-free number to file complaints against telemarketers, or so online at www.800elpfla.com.

The Tianjin Tianbin Real Estate Development Co., Ltd. in agreement with The Marriott International can hardly wait to open its brand new Marriot Executive Apartments for those on an extended stay in Tianjin, China. The two hotels included are the ninety-six unit Lakeview, Tianjin, and the 368-room Renaissance, both will be enjoying beautiful lakefront space in Tianjin’s Hexi District. With all of the exhilarating nightlife, unique, high-end shopping, and financial areas close at hand, this fusion will surely be a success.

The international lodging president and managing director, Ed Fuller, had this to say about the provocative expansion: “We’re excited to see our presence in Tianjin continue to expand with these tow distinctive properties…Tianjin has involved into an important high-tech and financial center in China and is home is home to a significant ex-pat community, who will appreciate the availability of our first Marriot Executive Apartments in the city.”

Guests can claim the ultimate luxury at the Tianjin Lakeview, as they will discover the rooms to be more spacious, i.e. luxurious baths with separate showers and tubs, as well as an inordinate amount of additional comforts. The modern amenities and features will allow for the optimal experience upon visiting this hotel. In addition, the three luxury restaurants in the hip and contemporary lobby lounge will serve some of the finest culinary dishes and tasty drinks that adhere to the company’s high-end reputation. Furthermore, two spacious meeting rooms, a private meeting room, and an executive lounge steeped in the latest comfort and technology is available to all guests. A largely extravagant ballroom of roughly 2,800 square meters is designed specifically for conferences and can be divided into three sections: a junior ballroom, which divides into two, and three more meeting rooms that can be adjusted to fit a variety of guests’ needs.

All guests of the Lakeview, Tianjin, Marriott Executive Apartments will enjoy the aesthetically adorned furnishings and styles of the internal design. The apartments range anywhere from one to three-bedrooms, while guests can sit back and enjoy the amenities, which include an in-house laundry facility, flat-screen HDTVs, high-speed internet, as well as a full functionally enhanced kitchen. Guests that do not wish to take advantage of the amenities inside always have the option to enjoy the many dining options at the Renaissance Hotel, which include the elaborate delicatessen, exciting game-room, and room service. Presently, the Marriot International operates with the in 280-room Renaissance Tianjin and the 284-room Renaissance Tianjin, TEDA. The excitement commences in 2013, as the 400-room Tianjin Marriott will be built, and its enormous presence will be felt, as these large entities join forces.

First quarter 2010 net income totaled $83 million, a 5 percent decline compared to first quarter 2009 adjusted net income. Diluted EPS totaled $0.22, down $0.02 from adjusted diluted EPS in the year-ago quarter. On February 11, 2010, the company forecasted first quarter diluted EPS of $0.15 to $0.21.

Reported net income was $83 million in the first quarter of 2010 compared to a reported net loss of $23 million in the year-ago quarter. Reported diluted EPS was $0.22 in the first quarter of 2010 compared to reported diluted losses per share of $0.06 in the first quarter of 2009.

Adjusted results for the 2009 first quarter exclude $129 million pretax ($84 million after-tax and $0.24 per diluted share) of restructuring costs and other charges and $26 million of non-cash charges ($0.07 per diluted share) in the provision for income taxes.

J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, said, "In the first quarter we welcomed increasing numbers of business guests to our hotels as travelers got back to work in most markets around the world. Corporate roomnights for the Marriott Hotels & Resort brand in North America rose 16 percent in the first quarter as business demand strengthened dramatically. At the same time, leisure demand remained solid as vacationers continued to find memorable holiday experiences and good values. While first quarter room rates were generally lower than last year, as occupancy levels continue to improve, we see higher room rates on the horizon. In fact, we anticipate that North American systemwide REVPAR will increase by 3 to 6 percent for the full year 2010 with higher room rates by year end. International demand trends are even stronger. We expect REVPAR outside North America will increase 4 to 7 percent on a constant dollar basis in 2010 reflecting strong demand in Europe, South America and Asia.

Over 8,000 new rooms joined our system during the first quarter including the JW Marriott Los Angeles L.A. LIVE, the JW Marriott Hill Country Resort and Spa in San Antonio, and the Shanghai Marriott Hotel Changfeng Park, our 47th hotel in China. We also launched our newest brand, The Autograph Collection, with two new properties, Casa Monica Hotel in St. Augustine Florida and the Grand Bohemian Hotel in Asheville, North Carolina.

With stronger demand and meaningful unit growth, fee revenue and earnings per share exceeded our expectations. 2010 is shaping up to be a good year."

REVPAR for the company's worldwide comparable company-operated properties was flat (a 1.0 percent decline using constant dollars) in the 2010 first quarter and REVPAR for the company's worldwide comparable systemwide properties declined 0.7 percent (a 1.3 percent decline using constant dollars).

International comparable company-operated REVPAR rose 5.8 percent (a 1.5 percent increase using constant dollars), including a 4.5 percent decline in average daily rate (a 8.3 percent decline using constant dollars) in the first quarter of 2010.

In North America, comparable company-operated REVPAR declined 1.9 percent in the first quarter of 2010. REVPAR at the company's comparable company-operated North American full-service and luxury hotels (including Marriott Hotels & Resorts, The Ritz-Carlton and Renaissance Hotels) was down 1.2 percent with a 7.8 percent decline in average daily rate.

Marriott added 44 new properties (8,361 rooms) to its worldwide lodging portfolio in the 2010 first quarter and seven properties (1,146 rooms) exited the system during the quarter. At quarter-end, the company's lodging group encompassed 3,457 properties and timeshare resorts for a total of over 603,000 rooms.

The company's worldwide pipeline of hotels under construction, awaiting conversion or approved for development totaled over 95,000 rooms in more than 600 hotels at quarter-end.

MARRIOTT REVENUES totaled over $2.6 billion in the 2010 first quarter compared to approximately $2.5 billion for the first quarter of 2009. Base management and franchise fees rose 1 percent to $216 million reflecting fees from new hotels offset by slightly lower REVPAR. First quarter incentive management fees declined 7 percent to $40 million. In the first quarter, 23 percent of company-managed hotels earned incentive management fees compared to 25 percent in the year-ago quarter. Approximately 60 percent of incentive management fees came from hotels outside North America in the 2010 quarter compared to 54 percent in the 2009 quarter.

Worldwide comparable company-operated house profit margins declined 110 basis points in the first quarter reflecting increasing occupancy and declining rate partially offset by efficiency improvements at the property level. House profit margins for comparable company-operated properties outside North America increased 40 basis points and North American comparable company-operated house profit margins declined 180 basis points from the year-ago quarter.

Owned, leased, corporate housing and other revenue, net of direct expenses, declined $1 million in the 2010 first quarter, to $12 million, primarily reflecting the impact of lower operating results in owned and leased hotels partially offset by $4 million of termination fees.

First quarter adjusted Timeshare segment contract sales increased 10 percent to $172 million excluding an $8 million allowance for fractional and residential contract cancellations recorded in the quarter. In the prior year's quarter, adjusted Timeshare segment contract sales totaled $157 million excluding a $28 million allowance for contract cancellations.

In the first quarter, timeshare sales and services revenue totaled $285 million and, net of expenses, totaled $50 million for the quarter. Adjusting for restructuring and other charges, as well as the impact of consolidation of securitized loans as if such consolidation had occurred at the beginning of 2009, first quarter 2009 timeshare sales and services revenue would have totaled $254 million and, net of direct expenses, would have totaled $25 million. These adjustments for the 2009 quarter are shown on page A-14.

Timeshare development revenue, net of expense, benefited from stronger demand, higher closing efficiency, favorable reportability and lower marketing and sales costs.

Timeshare segment results include Timeshare sales and services revenue, net of direct expenses, as well as base management fees, equity earnings (losses), noncontrolling interest, interest expense and general, administrative and other expenses associated with the timeshare business. Timeshare segment results for the 2010 first quarter, shown on page A-6, totaled $25 million, including $14 million of interest expense related to the consolidation of securitized Timeshare notes. On February 11, 2010, the company provided Timeshare segment guidance of $30 million to $40 million, excluding interest expense associated with securitized Timeshare notes.

GENERAL, ADMINISTRATIVE and OTHER expenses for the 2010 first quarter increased 1 percent to $138 million, compared to adjusted expenses of $136 million in the year-ago quarter. The 2010 first quarter benefited from $6 million in guarantee reserve reversals and $4 million of lower receivable reserves partially offset by higher legal expenses of $3 million. The 2009 first quarter benefited from $8 million of incentive compensation and other accrual reversals and a $5 million favorable impact associated with deferred compensation.

GAINS AND OTHER INCOME totaled $1 million primarily reflecting gains on the sale of real estate. The prior year's first quarter gains and other income totaled $25 million and included a $21 million gain on the extinguishment of debt, $3 million of gains on the sale of real estate and other income and $1 million of preferred returns from joint venture investments.

INTEREST EXPENSE increased $16 million to $45 million in the first quarter primarily due to $14 million of interest expense related to the consolidation of debt associated with securitized Timeshare notes, lower capitalized interest and interest associated with deferred compensation partially offset by lower debt balances and interest rates. Adjusting for the impact of consolidation of securitized loans as if such consolidation had occurred at the beginning of 2009, first quarter 2009 interest expense would have totaled $45 million, flat with 2010 first quarter interest expense.

EQUITY IN (LOSSES) EARNINGS totaled an $11 million loss in the quarter compared to a $3 million adjusted loss in the year-ago quarter. The $8 million decline primarily reflected a $4 million increase in cancellation reserves at one Timeshare joint venture and impairment charges of $3 million associated with two investments.

Earnings before Interest Expense, Taxes, Depreciation and Amortization (EBITDA)

EBITDA totaled $221 million in the 2010 first quarter. In the 2009 first quarter, adjusted EBITDA totaled $215 million. If the consolidation of securitized timeshare notes had occurred at the beginning of 2009, adjusted EBITDA in 2009 would have totaled $235 million.

BALANCE SHEET

At the end of the first quarter 2010, total debt was $3,269 million and cash balances totaled $118 million, compared to $2,298 million in debt and $115 million of cash at year-end 2009. The increase in debt included $1,043 million of debt associated with securitized Timeshare mortgage notes now required to be consolidated, as noted below. At the end of the first quarter 2010, Marriott had borrowings of $396 million outstanding under its $2.4 billion bank revolver.

COMMON STOCK

Weighted average fully diluted shares outstanding used to calculate diluted EPS totaled 373.3 million in the 2010 first quarter compared to weighted average fully diluted shares outstanding of 360.5 million used to calculate adjusted diluted EPS in the year-ago quarter.

The remaining share repurchase authorization, as of March 26, 2010, totaled 21.3 million shares. No share repurchases are planned for 2010.

IMPACT OF ACCOUNTING CHANGES

The company adopted ASU Nos. 2009-16 and 2009-17 (formerly referred to as FAS 166 and 167) at the beginning of 2010, which required consolidation of entities associated with securitized Timeshare notes and impacts the ongoing accounting for those notes. With the consolidation of the existing portfolio of securitized loans on the first day of fiscal 2010, assets increased by $970 million, liabilities increased by $1,116 million, and shareholders' equity decreased by $146 million. No change in net cash flow is anticipated as a result of the accounting changes. If the consolidation had occurred at the beginning of 2009, first quarter 2009 adjusted revenue would have increased to $2,540 million, first quarter 2009 adjusted EBITDA would have increased to $235 million, first quarter 2009 interest expense would have increased to $45 million and first quarter 2009 adjusted pretax income would have increased to $141 million. See the tables on pages A-14, A-15, A-16, A-17 and A-18 of the accompanying schedules for 2009 quarterly and full year Timeshare segment results adjusted as if the accounting changes had been made on the first day of fiscal 2009.

SECOND QUARTER 2010 OUTLOOK

For the second quarter, the company assumes comparable systemwide REVPAR on a constant dollar basis will increase 4 to 6 percent in North America, 8 to 10 percent outside North America and 5 to 7 percent worldwide.

In the 2010 second quarter, the company assumes Timeshare contract sales will total $175 million to $185 million and Timeshare sales and services revenue, net of direct expenses, will total approximately $40 million to $45 million. With these assumptions, Timeshare segment results for the second quarter, including interest expense associated with securitized notes, are expected to total $20 million to $25 million.

FULL YEAR 2010 OUTLOOK

For the full year 2010, the company assumes comparable systemwide REVPAR on a constant dollar basis will increase 3 to 6 percent in North America, 4 to 7 percent outside North America and 3 to 6 percent worldwide.

The company expects to open 25,000 to 30,000 rooms in 2010 as most hotels expected to open are already under construction or undergoing conversion from other brands.

The company continues to estimate that, on a full-year basis, one point of worldwide systemwide REVPAR impacts total fees by approximately $10 million to $15 million pretax and owned, leased, corporate housing and other revenue, net of direct expense, by roughly $4 million pretax.

For its timeshare business, the company assumes 2010 timeshare contract sales will be slightly higher than 2009 levels. For 2010, Timeshare sales and services revenue, net of direct expenses, is expected to total $185 million to $195 million. Timeshare segment results for 2010, including interest expense associated with previously securitized notes, is expected to total $95 million to $105 million.

The company expects its 2010 general, administrative and other expenses to total $650 million to $660 million reflecting higher incentive compensation.

Marriott International Inc., which owns Marriott hotels and The Ritz-Carlton chains, reports its first-quarter results before the stock market opens Thursday.

WHAT TO WATCH FOR: Analysts expect Marriott to get a boost from its high-end properties as well as its overseas business. Those segments are expected to have better revenue generated from each available room, which may help overall results for the quarter that ended in March. Revenue per room ratio is considered a key hotel performance measure.

WHY IT MATTERS: Goldman Sachs analyst Steven Kent said Marriott is one of the few hotel companies that can benefit from the "broad improvement" in the hotel industry. The company, which has more than 3,400 properties around the globe, has a range of hotels catering to travelers with various budgets. It's that diversity, along with the company's timeshare business, that should help the Bethesda, Md.-based company do better than some of its competitors.

Marriott's other brands include JW Marriott, Residence Inn, Courtyard, TownePlace Suites, SpringHill Suites and Bulgari brand names.

WHAT'S EXPECTED: Analysts polled by Thomson Reuters expect Marriott to earn 20 cents per share on revenue of $2.48 billion.

LAST YEAR'S QUARTER: Marriott lost 23 million, or 6 cents per share, on revenue of $2.50 billion.

A group of 300 people who borrowed about £6 million to invest in an allegedly fraudulent timeshare scheme are suing Barclays Bank and GE Money because they refuse to cancel the loans.

The group members borrowed between £10,000 and £20,000 each to invest in timeshare points that they were told could be swapped for luxury holidays across the world. The timeshare operator, St Frances Marketing, has since gone bust, leaving about 2,500 people with no holiday entitlement and substantial debts.

The sophisticated scheme, which is the subject of criminal proceedings, allowed customers to take a loan from Barclays or GE Money during the sign-up process, which many did.

Although St Frances has now been placed in liquidation by Trading Standards and five former staff are being prosecuted for trading standards offences, the two banks are insisting that the timeshare borrowers must honour their debts in full.

In a lawsuit filed in the High Court in London, the group claims that under consumer credit law the banks are obliged to rescind the loans because they were taken out in conjunction with a fraudulent sales process.

By having credit agreements included at the point of sale, the group also claims that Barclays and GE Money effectively acted as agents for the fraudsters and should compensate the victims.

Barclays said: “We are aware of these proceedings and refute the accusations within them.”

GE Money said that it was aware of the lawsuit and would defend its position. The 300 Britons, represented by the law firm Edwin Coe, are asking for their loans to be cancelled and for compensation for their inconvenience.

Since many of the Britons have stopped making repayments on their loans, they are demanding that Barclays and GE ensure they do not receive negative credit ratings as a result.

St Frances, based in Exeter, was placed into liquidation in June 2009. The company and five of its former staff have been charged with 36 trading standards offences. At a recent court hearing a judge was told that prosecutors have a gathered testimony from 73 witnesses duped by the scheme.

St Frances, formally known as Easysave Finance Ltd, offered clients the chance to join its VIP Holidays scheme by buying points that could be exchanged for holidays. A glossy sales brochure featured luxury resorts across the globe, including the Calypso Plaza on Australia’s Gold Coast and Club Fun Tropicale in the Dominican Republic as well as several Mediterranean locations. Potential customers were told that St Frances guaranteed to buy back any unused points and so the scheme was risk-free.

Case study

Sarah Barnes, of Bristol, discovered St Frances Marketing when she received a phone call saying she had won a holiday. At a slick but pressured sales pitch in Exeter, Ms Barnes, 51, and her husband were introduced to a timeshare scheme that guaranteed holidays at luxury resorts worldwide.

Mrs Barnes bought 60 scheme points for £10,495, entitling her to a week’s holiday in a luxury resort every year for 40 years. She was immediately offered a credit agreement by GE Money, which she signed.

The loan offered a one-year payment holiday, so by the time Mrs Barnes’s repayments were due she realised that she had been conned. She has not paid off any of the loan and GE Money has added interest, taking the sum owed to about £14,000.

Travellers affected by cancellations due to volcanic ash may not see travel insurance claims paid, it has emerged.

The Association of British Insurers (ABI) is in talks with insurance companies to establish the industry's position and warned that the rarity of the situation would mean that many insurers would have differing viewpoints.

Steve Williams, head of travel insurance at Confused.com, the price comparison service, said: "The situation is incredibly rare and insurance providers will treat the occurrence in different ways. It is unfortunate that there is not one standard approach when an 'Act of God' happens – this will be referred to as catastrophe cover in policies.

"Holidaymakers who experience delays, cancellations and costs will need to contact the airline provider in the first instance. They will offer alternative flights and, where cancellations have occurred, alternative dates for your trip. I advise passengers to keep a watchful eye on this situation as it is changing very quickly."

However, Direct Line has confirmed that customers will be covered for travel delay and missed departure.

Jennifer Thomas of Direct Line said: "Customers will need to provide written official evidence to support any claims where it is reasonable to request such evidence. In this case, information from official airline websites is acceptable as evidence.

"As with all insurance policies, you are unable to insure for an event or incident after it has happened. Therefore, customers wishing to buy travel insurance today will not be covered for travel delay or missed departure arising from the volcanic ash as they are buying cover in the knowledge that there is a problem. This highlights the importance of buying travel insurance as soon as you book your holiday or flight."

Most airlines are offering refunds or alternative flights for affected travellers. For example, easyJet is offering those with cancelled flights a full refund or free transfer to another flight on the same route within 30 days of the original flight date.

Ryanair has informed passengers who were booked to travel on one of the cancelled flights that they can transfer to the next available flight free of charge or apply for a refund on their unused flight(s) at the airport ticket desk, online or through the airline's call centre.

British Airways is offering a full refund, free rebooking on another BA or BA franchise flight within two weeks of the original flight.

The weather is warming up, and summer is just around the corner!

You may be starting to plan out your summer vacation, but before you book a hotel, you may want to stop and think about renting a timeshare instead.

I talked to Wally Jones from Travel Leaders, and he let me know about some incredible deals on timeshares.

So why would somebody want a timeshare versus a hotel?

Wally said there’s more space in timeshares because they are often set up like apartments. And most have full kitchens, so instead of going out for meals you can save a buck and make dinner!

And since more people are choosing to save these days, owners are having a hard time renting out their timeshares, which means lots of deals.

You might want to check out Redweek.com. It lists timeshares for rent and for sale. There's also a section on the site that shows you what hotel deals you can find. That way you know if you're really getting a good deal.

But just because you see it online, don't assume everything is legit.

Wally said if you rent through a person, make sure they accept credit cards. It will, for one, protect you in case something goes wrong. For example, if you get there and it’s now what they said it was or they just flat out take your money and run away.

He also suggested asking a few important questions.

You want to make sure you ask it there are maintenance charges, like housekeeping, Wally said. If they do housekeeping, ask how often they com and if there is a charge for that.

Also, ask if the property shares facilities with a resort and if you’ll have privileges to use the resort amenities, like the pool or gym. And if you’ll be bringing your laptop along, you might want to ask about the internet service and is there a price to use it? Or a resort fee to use the facilities, so you won’t have any hidden expenses.

There are lots of options when planning a vacation. Just remember to do your research before handing anyone your money!

The storied saga of the Friar Tuck Inn has come to an end.

After 39 years of operation, the 500-room hotel founded by the late Salvatore Caridi, has been closed. The 27-acre hotel property is now in possession of the Ulster Savings Bank after a seven-month bankruptcy court proceeding.

New York’s Northern District U.S. Bankruptcy Court Judge Robert E. Littlefield ruled Wednesday that the hotel’s Chapter 11 bankruptcy protection case be dismissed, resulting in the resort’s closure.

“It’s devastating,” said Ricki Caridi, co-proprietor of the Friar Tuck. “I’m 54 and I have to start my life all over again.”

Caridi, who said he has been involved in the Friar Tuck’s operations since its inception in 1971, had no future plans ahead.

The court did not rule on the timeshare and condominium properties on Wednesday, which Caridi still has control over. Caridi was on site of the Buckingham Village property Wednesday afternoon overseeing the repainting and refurbishing of a cottage.

“I’ve been in the hotel business for 39 years,” he said. “There’s nothing else. All my cousins have the other interests.”

The timeshares had recently been allowed to disaffiliate themselves from RCI, an international timeshare exchange company.

A decision is expected on the Nottingham Village properties, encompassing the timeshare units and about 130 acres in property, on Friday morning.

According to Richard Weisz, counsel for the Ulster Savings Bank, a recommendation was made that the timeshare properties — under the entity Nottingham Village Development Corporation — should be converted to Chapter 7 bankruptcy proceeding.

If Littlefield approves the Chapter 7 conversion on Friday, a court appointed trustee would oversee the liquidation of the property.

Without the bankruptcy protection, creditors are now able to request any outstanding debt from the Friar Tuck proprietors, which includes over $500,000 in utility, food and hospitality services debt.

Locksmiths and movers were working feverishly to secure the resort Wednesday afternoon, which the Ulster Savings Bank said is being poised for resale.

“We have several people that have made offers,” said Marjorie Rovereto, president and chief executive officer of the Ulster Savings Bank.. “It’s great to have ambition and a great idea but you have to have the money behind it.”

Rovereto said the bank had been working patiently with the Friar Tuck owners during the bankruptcy proceeding, providing about $900,000 in financing to keep the hotel operating.

Mortgage debt on the property — owed to Ulster Savings Bank — exceeded $3.2 million when the bankruptcy proceeding began in September 2009.

“This has been a long process,” said Rovereto during a telephone interview Wednesday, “and we feel we’re in a better position now to sell the property.”

As movers loaded the dusty televisions from the hotel’s Off-Track Betting teletheater, a long-time manager of the horse race wagering venue recounted its history.

“We’ve been here for 20 years,” said Mike Maxwell, the hotel’s OTB manager. “Now it’s all over.”

Maxwell said he will be transferred to an OTB in Albany.

As a locksmith hurried to secure each external door of the hotel, movers loaded old pinball machines, arcade games and a billiard table into a rented moving van.

“They’re going to the warehouse,” a man said of the game room equipment. The location and owner of the warehouse could not be determined before Ulster Savings Bank security personnel intervened.

The bank or any potential buyers of the property will have to satisfy a $540,820 lien on the property for county, school and town taxes owed.

“The county taxes that are owed will have to be cleared up first,” said Greene County Treasurer Willis Vermilyea. “Either the bank or the new buyer comes in and pays the taxes.”

Vermilyea said the bank typically pays off the taxes soon after the property is acquired because interest builds on the owed taxes, with a 12 percent annual interest rate.

Rovereto said the taxes will be paid “at the appropriate time.”

Legal action resulting in the property’s foreclosure would result if the taxes owed to the county went unpaid.

“Because of the bankruptcy we could not start our foreclosure,” Vermilyea said. “Now that the bankruptcy courts have released the property we can act.”

Plans to build an extension to Leeming Wells Hotel, near Oxenhope, have been rejected by the Government.

Bradford Council planners last year turned down the proposals for the hotel at Long Causeway.

Parish councillors in Oxenhope also opposed the plans for a new 17-unit timeshare block.

An appeal by the applicants, the Olympus Group, to the Secretary of State has now been dismissed.

The £1 million extension would have formed timeshare accommodation as well as additions to the restaurant and main bar.

Bradford planners had told the Olympus Group that it must agree to demolish the planned development if the business failed.

After considering the applicant’s argument that it would be unable to comply with the demolition condition, councillors rejected the proposals.

Olympus boss Tony Rhodes last year blasted Bradford Council by imposing what he called “ridiculous” planning conditions.

The committee stipulated that if the venture failed, Mr Rhodes would have to bulldoze the buildings and turn the land back into moorland.

The condition was imposed to prevent the units being converted into a residential development.