Since 2016, Lemonjuice Capital and Solutions has revitalized and restructured resorts located throughout the United States renewing timeshare owners’ confidence through a process called, ‘Reimagining ResortsTM.’ The company has earned the trust of owners by working with homeowner association boards, making capital improvements, and providing solutions for owners and resorts.
After extensive consultation with the board, communication with the remaining Inverness owners, evaluation of the facility and local market environment, Lemonjuice was asked to acquire the property as-is from all of the remaining owners who wanted to sell.
For many owners, their timeshare has provided years of enjoyment and created wonderful memories. As times change, the needs of owners change as well. Many legacy resorts are struggling with: increasing delinquencies; escalating fees; special assessments; deteriorating units; and an aging group of owners who are finding it difficult to either continue paying or even traveling.
Cedar Village is the third Lemonjuice Solutions project to complete a successful repositioning, and one of several currently undergoing a process intended to provide a positive outcome for the Association of timeshare owners by converting some or all of the units from timeshare to traditional real estate, and distributing the net sale proceeds to those owners.
Is this the right time to repurpose and restructure your resort? Maybe, or not. Boards must understand and consider all of their options. The COVID-19 crisis makes this analysis more critical than ever. Begin with an understanding that the timeshare marketplace has changed.