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suziq45

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Reply with quote  #31 
Twelve lawsuits have been filed, sighting unfainess and inadequate compensation. Please look on the business newswires under Hilton (HLT).
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captiivated

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Reply with quote  #32 
suzig45, unfairness and inadequate compensation I think are weak complaints for class action attorneys.  I doubt that any of these will be successful.

Interestingly, Hilton had to settle a class action law suit in 2006 because they failed to notify people at the time of making a reservation of their Resort Fees. They informed people only at the time of their registration at the Hotel...and had to settle that action.  As a result SSIR is trying to be up-front on this issue. 
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suziq45

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Reply with quote  #33 
We've had a lot of experience with Franchises. These lawsuits are not a surprise.
They can be difficult to please and see only one side of the coin. That being said, I don't think the lawsuits will go anywhere other than slow down the process.
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CaptivaBound

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Reply with quote  #34 
Glenn, are you referring to 11 condo associations at SSIR?  I assume they were previously managed by LXR?  Is this a yearly contract or multiple year contract?  What are the key advantages of the new management company?
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captiivated

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Reply with quote  #35 

suzig45: Sorry, I thought you were referring to stock holder class actions not those of franchisees.  The former have little chance of success, the latter additional choices.  They can fight an increase in management fees or change the Hilton name on their Hotels and arrange for a new management company.  I can not imagine they would do that.  What am I missing.

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captiivated

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Reply with quote  #36 

For what it's worth I now own stock (units) in BX.  Want "a piece of the pie"...and maybe an offset to my cost increases at SSIR.  See you at the casitas and the Pointe bar! Hopefully.

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captiivated

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Reply with quote  #37 

glenn:  no surprise, as the Great One at LXR said "if it does not earn a profit we are not doing it". 

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reebop

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Reply with quote  #38 
How does this impact your "personal" rentals? Still as draconian as LXR?
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CaptivaBound

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Reply with quote  #39 
So now what will LXR be charging the associations/owners for?  Just the amenity fees, if you chose, or still some part of the operating fees of the resort?

I wonder if LXR will have HGVC get out of the timeshare management business. 

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suziq45

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Reply with quote  #40 
What about Plantation Beach Club I, II and III?
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reebop

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Reply with quote  #41 
This is management of whole ownership units, not intervals. We're still managed by HGVC.
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captiivated

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Reply with quote  #42 
My guess is that the association management business decision by LXR may have been done prior to the Hilton deal because that business segment is very important to Hilton.  It may also be that LXR wanted to introduce a significant price increase to bring that service closer to its profit margin objectives and the whole owners then sought an alternative manager. 
Glenn would obviously know better, but I doubt the real estate (rental) regs instituted by LXR will change. 
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CaptivaBound

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Reply with quote  #43 
The LXR saga gets a bit more complicated all the time.  I assume the whole owner associations still have to pay LXR for some things, such as gate security, check-in services, etc?  What happens if LXR decides not to provide these services to whole owners?  This has all the signs of problems with blending families. 

I hear the kids' swimming pool has not been signed off on yet, but will start once all the sign-offs are in place.  If it takes as long as the main pool took, it will be awhile. 
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kenzie

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Reply with quote  #44 

Blackstone stock (units) have dropped like a stone after the offering and price high of $38+.  It is now in the $26-27/share price area and I think an interesting trade.  Go for it!  I did.

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captiivated

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Reply with quote  #45 
Interesting news on Blackstone but I'm not sure how exactly to interpret it but, I think it is positive...the stock is up 140% from its low.


http://online.wsj.com/article/BT-CO-20091012-705614.html
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