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Fairmont Resorts Is No More
The following news item appeared in the Columbia Valley News in July: Fairmont Resorts Acquired by Northwynd
Now, through a court-approved sale process, newly-formed Northwynd Resort Properties Ltd. has acquired Fairmont Resort Properties (FRP) in Fairmont Hot Springs, BC. FRP properties include Fairmont Vacation Villas and Lake Okanagan Resort in British Columbia, along with Makaha Resort and Golf Club in Hawaii, Costa Maya Reef Resort San Pedro in Belize and Fairmont Rancho Banderas in Puerto Vallarta, Mexico.
The purchaser will hold Fairmont Vacations Villas through Northmont Resort Properties Ltd. and will hold Lake Okanagan Resort Vacation Timeshare Properties through Lorwynd Resort Properties Ltd.
Patrick Fitzsimonds, CEO of Northwynd Resort Properties Ltd., has been involved in the capitalization and development of residential and resort-based real estate in the US and Canada for 30 years. Mr. Fitzsimonds is committed to delivering the highest standards of accountability and management services to vacationers, and in order to do so, he is enlarging the company's executive team of industry professionals to assist the management of Northwynd and subsidiary resorts in the execution of their business plan.
The court approved the purchase on June 22, 2010. Legal title to the timeshare units will remain registered in the name of Carthew Registry Services Ltd. (the trustee), which is independent of Northwynd. So the timeshare rights that are, and will continue to be registered with the trustee, will remain fully protected from third party action. All timeshare agreements that are currently registered with the trustee will be assigned to either Northmont or Lorwynd, whichever the case may be, enabling the continuation of the resorts' existing affiliations with Resorts Condominiums International.
Another Northwynd subsidiary, Resort Villas Management Ltd., will continue to manage Fairmont Vacation Villas and will soon begin to manage the timeshare operation at Lake Okanagan Resort as well. Their promise is to exceed the quality of management services that timeshare owners have experienced in the past.
The first part of the new plan will be to introduce a home owners' association for both Fairmont Vacation Villas and Lake Okanagan Resort to promote good communication between timeshare owners and the management company, ensuring that owners will be consulted in the operation of their units and also be encouraged to provide input regarding the annual budgets.
A new website is presently being created to further the open communications policy of the company. They are also promising employees of Northwynd at both resort locations and also at the corporate offices in Calgary, the information and training they need in order to be able to give timeshare owners and guests the excellent service they expect and deserve, embodying the company's mission to provide an exceptional vacation experience.
In a letter to all timeshare owners, Mr. Fitzsimonds says:
"Our goal is to earn your confidence and participate together with you in our various capital and operational initiatives to significantly improve our properties and your vacation experience. I sincerely hope that you share our enthusiasm, and I look forward to a positive future together."
Antonio G.
A quick check of "Northwynd" reveals: 1. same address in Calgary as Fairmont Properties; 2. same telephone and fax numbers as Fairmont Properties. I guess the evil Knights couldn't bring themselves to even disguise themselves to the extent of paying for a new telephone number. All they've done, apparently, is put a few of their stooges in nominal charge of operations.
Antonio G.
The Latest Information:
Below is a news article about the financial state of Fairmont Resort properties Ltd:
Press release — Fairmont Resort Properties Ltd. – Northwynd Resort Properties
On March 30, 2009, Fairmont Resort Properties Ltd. was made subject to creditor protection under the Companies Creditor’s Arrangement Act “(CCAA”). This process allows the Company the opportunity to present a plan to restructure its obligations to the benefit of all stakeholders including secured and unsecured creditors, employees and customers. Fairmont time share owners are not affected by this plan of arrangement and continue with the rights their acquired at the time of their purchase. The management of the facility, Fairmont Vacation Villas, is operated by Columbia Villa Management and is also not subject to the CCAA order. It operates independently of Fairmont Resort Properties Ltd. Pursuant to the court order for the plan of arrangement, new management was appointed with Mr. Collin Knight and Mr. Doug Morcom not involved in the management at this time. All debts of the Company at the date of the application were stayed awaiting court approval of Fairmont’s restructuring plan. All goods and services supplied by the Company’s customers since the date of the application are acquired and dealt with in the normal course of business. Notwithstanding the situation of Fairmont Resort Properties Ltd., all timeshare owners will enjoy their vacation at Fairmont Vacation Villas this year and in the future without interruption.
I have found out that the people named on the Northwynd website are all former Fairmont Resort Properties employees. Please help us on our quest to bring this company to justice and send its management to prison where they belong. Attached here is a current list of management from Northwynd Resort Properties and Fairmont Resort Properties.
Patrick Fitzsimonds; Chief Executive Officer Doug Frey; Vice President, Development Eleanor Fornataro; Vice President, Communications / Corporate Services Chris Van Der Deen; Vice President, Operations / Member Services Kirk Wankel; Chief Financial Officer
Patrick Fitzsimonds; Chief Executive Officer
Mr. Fitzsimonds has been involved in the capitalization and development of residential and resort-based real estate in the U.S. and Canada over the course of the past 34 years. He acquired a Masters Degree in Business Administration and went on to executive positions with Shelter Corporation of Canada, Qualico Developments and United Inc.. Patrick's areas of experience include construction, design, cash management and financial structure.
Doug Frey; Vice President, Development
Mr. Frey is a University of Alberta alumnus and has been involved in real estate finance and development for over 20 years. His career path includes increasingly responsible positions with National Trust and Morguard Investments Ltd., and most recently as co-founder and principal in Foxbridge Development Ltd., a real estate development company active in Alberta and British Columbia.
Eleanor Fornataro; Vice President, Communications / Corporate Services
Ms. Fornataro has worked in the timeshare industry for the past 14 years, first with Royal Host Vacation Club, and most recently with Fairmont Resort Properties Ltd.. Eleanor brings valuable experience in the areas of program development, client services, and communications.
Chris Van Der Deen; Vice President, Operations / Member Services
Mr. Van Der Deen has many years of experience in the hotel and resort sector. As General Manager of several Royal Host properties in the early 2000s, Chris developed a keen appreciation of the many facets of hotel management and guest services. Beginning in 2005 Chris led the management team of Columbia Villa Management (later Resort Villa Management) at one of Canada's largest timeshare resorts in Fairmont Hot Springs, B.C., and also took on the General Manager role at Lake Okanagan Resort in Kelowna, B.C.
Kirk Wankel; Chief Financial Officer
Kirk Wankel graduated from the University of Calgary with a Bachelors of Commerce in 1995 and obtained his Chartered Accountant designation in 1998 while working for Arthur Andersen. Kirk has over a decade of industry experience including positions as the Vice President of Finance for BW Technologies Ltd., Vice President and Chief Financial Officer of Fair Sky Resources Inc., and Vice President and Chief Financial Officer of Blackline GPS Inc. Kirk has been the Vice President and Chief Financial Officer of Northwynd since November, 2010.
Thomas N.
thomasn109 wrote:The Latest Information:Below is a news article about the financial state of Fairmont Resort properties Ltd:
Press release — Fairmont Resort Properties Ltd. – Northwynd Resort Properties
On March 30, 2009, Fairmont Resort Properties Ltd. was made subject to creditor protection under the Companies Creditor’s Arrangement Act “(CCAA”). This process allows the Company the opportunity to present a plan to restructure its obligations to the benefit of all stakeholders including secured and unsecured creditors, employees and customers. Fairmont time share owners are not affected by this plan of arrangement and continue with the rights their acquired at the time of their purchase. The management of the facility, Fairmont Vacation Villas, is operated by Columbia Villa Management and is also not subject to the CCAA order. It operates independently of Fairmont Resort Properties Ltd. Pursuant to the court order for the plan of arrangement, new management was appointed with Mr. Collin Knight and Mr. Doug Morcom not involved in the management at this time. All debts of the Company at the date of the application were stayed awaiting court approval of Fairmont’s restructuring plan. All goods and services supplied by the Company’s customers since the date of the application are acquired and dealt with in the normal course of business. Notwithstanding the situation of Fairmont Resort Properties Ltd., all timeshare owners will enjoy their vacation at Fairmont Vacation Villas this year and in the future without interruption.
I have found out that the people named on the Northwynd website are all former Fairmont Resort Properties employees. Please help us on our quest to bring this company to justice and send its management to prison where they belong. Attached here is a current list of management from Northwynd Resort Properties and Fairmont Resort Properties.
Patrick Fitzsimonds; Chief Executive Officer Doug Frey; Vice President, Development Eleanor Fornataro; Vice President, Communications / Corporate Services Chris Van Der Deen; Vice President, Operations / Member Services Kirk Wankel; Chief Financial Officer
Patrick Fitzsimonds; Chief Executive Officer
Mr. Fitzsimonds has been involved in the capitalization and development of residential and resort-based real estate in the U.S. and Canada over the course of the past 34 years. He acquired a Masters Degree in Business Administration and went on to executive positions with Shelter Corporation of Canada, Qualico Developments and United Inc.. Patrick's areas of experience include construction, design, cash management and financial structure.
Doug Frey; Vice President, Development
Mr. Frey is a University of Alberta alumnus and has been involved in real estate finance and development for over 20 years. His career path includes increasingly responsible positions with National Trust and Morguard Investments Ltd., and most recently as co-founder and principal in Foxbridge Development Ltd., a real estate development company active in Alberta and British Columbia.
Eleanor Fornataro; Vice President, Communications / Corporate Services
Ms. Fornataro has worked in the timeshare industry for the past 14 years, first with Royal Host Vacation Club, and most recently with Fairmont Resort Properties Ltd.. Eleanor brings valuable experience in the areas of program development, client services, and communications.
Chris Van Der Deen; Vice President, Operations / Member Services
Mr. Van Der Deen has many years of experience in the hotel and resort sector. As General Manager of several Royal Host properties in the early 2000s, Chris developed a keen appreciation of the many facets of hotel management and guest services. Beginning in 2005 Chris led the management team of Columbia Villa Management (later Resort Villa Management) at one of Canada's largest timeshare resorts in Fairmont Hot Springs, B.C., and also took on the General Manager role at Lake Okanagan Resort in Kelowna, B.C.
Kirk Wankel; Chief Financial Officer
Kirk Wankel graduated from the University of Calgary with a Bachelors of Commerce in 1995 and obtained his Chartered Accountant designation in 1998 while working for Arthur Andersen. Kirk has over a decade of industry experience including positions as the Vice President of Finance for BW Technologies Ltd., Vice President and Chief Financial Officer of Fair Sky Resources Inc., and Vice President and Chief Financial Officer of Blackline GPS Inc. Kirk has been the Vice President and Chief Financial Officer of Northwynd since November, 2010.
I have received many emails asking to join a lawsuit. I am continuing looking for a lawyer to represent us. I am filing charges in Mexico and in Canada. I will be sending word out to the media and see if we can put a stop to this injustice. This company owns many time shares and I would not be surprised if their fraudulent dealings run deeper then Rancho Banderas. During this time of economic hardship it is unconscionable that a company would steal money from hardworking people. I am still baffled that this type of company is allowed to go on ripping people off. Everyone knows they are breaking the law, but nothing has been done. Please help us on our quest to bring this company to justice and send its management to prison where they belong.
Thomas N.
So what is really going on? How are they ripping people off? What I really want to know is, as an owner of a timeshare in Rancho Banderas, a company out of Phoenix AZ by the name of Professional Brokerage Services has made what I consider a ridiculous offer to purchase our points. Can this be fraud or not?
Greg B.
Northwynd Investors Action Group was recently established by a group of investors/unitholder that have major concerns about the dwindling assets and the questionable management and connection to the previous owners FRPL/Fairmont Resort Properties. The goal of the group is to remove all essence of FRPL / Fairmont from their new company that is floundering that it experinced under the same control before the bankruptcy, take control of their own company and start returning investors money to them.
The Action Group is presently working with the FRPL appointed Board of Trustees and management of Northwynd in a transition of control of our company and assets. Since their agreement in general, they have sent a Northwynd lawyer onto the Investors Action Group and have not backed out of their agreement to transition. The group is also reviewing business options with the CEO to explore ways to achieve the #1 goal of the group, protect remaining assets for the investor.
If anyone is interested in joining our group or commenting on their regretted investments, please email to northwyndinvestorsaction group@ymail
Chris B.
Last edited by chrisb727 on Apr 03, 2012 12:35 PM
Hello Chris. In past years there has been a meeting in spring to update FRPL Finance investors on what's been happening with Makaha. None this year though, so in searching the web I came across your post which is the most recent I could find. Actually I was wondering whether this investment was a total write off and if so would use it on my company's year end, September 30. Looks like it's still limping along? Have there been any further updates? I'll try northwyndinvestorsaction group@ymail too.
chrisb727 wrote:Northwynd Investors Action Group was recently established by a group of investors/unitholder that have major concerns about the dwindling assets and the questionable management and connection to the previous owners FRPL/Fairmont Resort Properties. The goal of the group is to remove all essence of FRPL / Fairmont from their new company that is floundering that it experinced under the same control before the bankruptcy, take control of their own company and start returning investors money to them.The Action Group is presently working with the FRPL appointed Board of Trustees and management of Northwynd in a transition of control of our company and assets. Since their agreement in general, they have sent a Northwynd lawyer onto the Investors Action Group and have not backed out of their agreement to transition. The group is also reviewing business options with the CEO to explore ways to achieve the #1 goal of the group, protect remaining assets for the investor.
If anyone is interested in joining our group or commenting on their regretted investments, please email to northwyndinvestorsaction group@ymail
Gord S.
We converted our lease agreement on October 2010 to a owner and noticed that all names on the documents had or have connections with the original fairmont group and would have been informed with the financial problems and this was not disclosed with the transaction. It seems that the whole Scam is with the original Fairmount people and have trapped some 14.000 in a shake down. There should be something that can put these people in the right direction or eliminated. Yours truly Sim Westera
Sim W.
I attended a meeting of investors (primarily RRSP investors I think, because the list came from Olympia Trust) on May 22, 2013 in Calgary. It was held with the purpose of exploring a class action lawsuit against the RI REIT trust. Scott Venturo LLP is the legal firm and their file no. is 65826.001. Some E-mail addresses I have are rireit@gmail.com and l.scott@scottventuro.com. Investors Jim Aitken (Chairman) and Chris Bryant (Assistant Chairman) are spearheading the action. They are looking for investors willing to help get this going.
Gord S.
In respect to the class action RI REIT unitholders are taking against a number of individuals, this has absolutely nothing to do with any timeshares or timeshare ownership. This class action is to do with REIT investments made with FRPL Finance, who were the same as Fairmont Resort Properties before the 'planned' bankruptcy they took investors into on their 1st mortgage bond investment.
The RI REIT didn't go into any bankruptcy, however the money is unaccounted for for the past 6 years. There are no TS involved with this investment though some TS owners in Fairmont invested in this REIT investment.
Just to clear that up. I see from a past post here that I did not complete our Northwynd Investors Action Group email address with the required .com, so anyone who was an investors with FRPL Finance/ Fairmont Resort Properties our email is northwyndinvestorsactiongroup@ymail.com
chris bryant
Chris B.
