Life is always full of challenges, and when there are none, people create them. That seems to be the story of Ocean Walk Resort in Daytona Beach, the most luxurious condo-hotel/time share Wyndham Resort in the area.

Two Towers, south tower completed in 2001, and the North tower in 2004, this is the  only condo-hotel (resort) wich is not a conversion, meaning that it was built like that and not converted from older hotel, like all other condo-hotels in the area.

Ocean Walk ResortThe South Tower has, I believe, 299 units, and 167 or 169 are owned by so called whole owners. The rest are time share units. Wyndham Resorts is relatively new to the property, they took over from Fairfield Resorts. Having both whole owners, like in other are condo-hotels, and time share owners here in the area is unique, and has it problems.

The property has 3 distinct groups of owners:

1. Whole owners

2. Time Share Owners

3. Commercial Owners

On the Board they are presented by 2 Board Members from Whole Owners and 2 from Time Share owners wit the remaining one representing the commercial 5 units (restaurant, catering space, etc.)

Couple of years ago there began a conflict between the Whole owners and Wyndham Resorts. Whole owners felt that they were not represented properly, and that the property was mismanaged. They revolted, and formed their own Board of Directors. Wyndham maintain another board of directors, representing Time Share and Commercial units. The situation could not have been amicably resolved and now both groups got their attorneys involved.

Tomorrow, on Monday the judge will look at the parties the first time. A small issue is at stake. The whole owners object to Commercial units being represented on the Board and have one vote. In reality, it creates a winning situation for Wyndham, as they represent both the time share owners and the commercial space, so they always have a 3 against 2 majority.

And this can change tomorrow, if the judge sides with whole owners. Would be interesting to watch the outcome of this first step in a long legal battle ahead.

 
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1 Comments on What's Cooking in Ocean Walk

NOV
08

Just the name sounds good to me.

11:59pm • #1

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Jon Zolsky, your Daytona Beach, Florida connection

Daytona Beach, FL

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Jon Zolsky (FunCoast Realty LLC)

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