The Horseshoe Resort, a timeshare resort one hour north of Toronto, Canada, has been forcing out owners by exponentially raising their maintenance fees year by year, going as high as $28,000 per week for the resorts final remaining timeshare contract holders.
Skyline International Development (SID), a privately-held Canadian investment company, bought Horseshoe Resort in 2008 and immediately began raising yearly maintenance fees in an effort to push out timeshare contract holders at the resort.
Yearly fees per week per timeshare baveraged $435 in 2009, then rose to $709 in 2010, and rose again to $1108 last year. Timeshare owners’ numbers dwindled to 18. Skyline raised rates and then accepted ownership back from owners who couldn’t or wouldn’t pay. The differences were passed on to holders who still had timeshare contracts. Many of them then defaulted, continuing the snowball effect.
Unlike many timeshare resorts, Horseshoe began accepting contracts back from contract holders. This led 250 of the lodges’ leaseholders to file a lawsuit against SID, claiming they were forced out of their timeshares. When you’re ready to get out of your timeshare, contact the Transfer Smart experts. We can advise you on different exit options to sell your timeshare, transfer your timeshare, or donate your timeshare.