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  1. #11
    Aruba since 1979
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    Andrea J.'s Avatar
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    marl and all aruban owners

    i am just feeling terrible about your situation.

    i ask all of you to post anything you know re: the situation in this thread.

    i am disgusted by the chain of events.

    go to the private site www.thearubanforum.com for any information
    the site is owned by an aruban resort timeshare owner and was brought online to inform and entertain and allow the aruban chatter.
    check it out.
    andrea
    Last edited by Andrea J.; 12-24-2009 at 09:40 AM.

  2. #12
    Senior Member Bill's Avatar
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    Any beach, party, bar or Casino!!!!!!
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    Got word that from a good source that apparently the Government is intermediating with the water and electricity company to not cut the utilities.
    And it might be that there is a buyer but all is not sure and the workers have not been paid yet. Glimmer of hope.

  3. #13
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    Oh Bill....Any news .... that lends hope to all of us... is worthy of posting..Thanks for the update... Marl .

  4. #14
    Aruba since 1979
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    Andrea J.'s Avatar
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    bill did forward that email to me and i can affirm to you that the source is as reliable as one could hope for!

    andrea
    Quote Originally Posted by Bill View Post
    Got word that from a good source that apparently the Government is intermediating with the water and electricity company to not cut the utilities.
    And it might be that there is a buyer but all is not sure and the workers have not been paid yet. Glimmer of hope.

  5. #15
    Senior Member Arubalisa's Avatar
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    Question

    From 08-26-2009

    Quote Originally Posted by Arubalisa View Post
    http://www.biggerpockets.com/properties/3272-aruba-casino-362rooms-timeshares
    "Aruba, casino 362rooms timeshares Debt/Equity…. appraisal 91.4mm.(12.2008) Windham Worldwide will fund $5m towards the project to get contract on hotel to sell as time shares. They will market and sell all 14,000 Fractional interest in the resort. Study indicates it will take three years to sell out inventory. Company to recieve 40% of sales proceeds. Expected gross sales from time shares $300m. Client is seeking $25m. to: a) payoff existing discounted debt of $65.3m. at $16.3m current note is with 2 hedge funds that are going under. b) $9.5m for construction of a 48k sq.ft. casino. (operation of casino will be moved from restaurant to this building). c) 2m for room renovations. d) 2.2m for legal fees, expenses Etc…Windham expects to sell the intervals at a price of $21.5k, Casino Operation expects to generate a minimum of $5-$7M of cash flow per year."

    Wyndham Vacation Ownership could not possibly be any worse than the present situation.
    Would be a Christmas blessing at this point.
    Last edited by Arubalisa; 12-15-2009 at 12:06 AM.

  6. #16
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    Didn't realize till I looked a second time that this was from Aug..... Have you had any updated news on this??? And it would be a wonderful Christmas for many, if some good news came our way....
    Last edited by Mercedes Lady; 12-14-2009 at 11:47 PM.

  7. #17
    Senior Member Arubalisa's Avatar
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    Quote Originally Posted by Mercedes Lady View Post
    Have you had any updated news on this???
    No, I am sorry I do not, but I would imagine it might take this long, especially in this economic climate, to obtain financing.

  8. #18
    Aruba since 1979
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    Andrea J.'s Avatar
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    This post was written by John Cole.
    John is the owner of the Arubanforum.com site.
    Here is the information that he posted on his site./www.aruba.com/forum/newreply.php?do=postreply&t=42633

    Andrea

    Tue Dec 15, 2009
    Post subject: The Closure of The Aruban
    Dear Owners, Today at 6 P.M. was a deadline for the payment of the large debt owed on electicity and water bills. The amount due, I am told is $1,000,000.00 USD. In addition employees have been on strike for the most part as they have not been paid since November 25th. Last Friday 20% of the payroll was paid and a promise of the remainder to be paid today. The funds were not sent to Aruba.
    The employees were requested by Minister Oduber of the Aruba Tourism Authority to return to work over the weekend to show support for the resort and the image of Aruba. The employees returned to work and at 1:30 P.M. the operations managers were called and an order was given to close the resort vacate all the guests and send the employees home.
    With the help of ATAHA the hotel authority all guests were relocated to other resorts on the island at deeply discounted rates. The cooperation of this agency was efficient and many of the owners understood what had transpired.
    The government is seeking a swift resolution to what has happened. I will attempt to keep you informed as this takes place. For the moment there is no one to contact at the resort as only a security team is on hand. A plea was made to the government to restore the power so that the resort will not suffer damage and allow for some communications to take place.
    Certainly, the majority of us have all made our plans for the vacations. I have reason to believe that we can expect some assistance from the branches of government that can help us all.
    I am sorry for such a late response for this posting as I have spent the entire day trying to keep up with the situation.

    The Following link was emailed to me by Lifer 78 an owner in Venezeula

    You can access it at the following URL:
    http://www.24ora.com/content/view/14525/5/

  9. #19
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    This is sooooo very upsetting! It turns my stomach to think that so many people have upcoming holiday vacations and now they might not even have a place to stay. I could only hope that airlines people have booked through would not charge a cancellation fee or change fee under the circumstances. Also I hope that the government can do whatever it takes to help out the guests with prior vacation plans. I will do my best to conact some individuals and see what I can find out.

  10. #20
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    Manchebo Eagle Beach, Oceania Residences, Occidental
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    OMG.. I am so sorry to everyone affected by this! Lets hope for a quick resolution!

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