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Turtle Bay in Receivership -- Bad News? or Just New Owners?

Tysons Corner VA
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43 posts
258 reviews
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Turtle Bay in Receivership -- Bad News? or Just New Owners?

We'd planned to make reservations at Turtle Bay because it is far from the hustle and bustle of Waikiki. But the other day (Feb. 24), Business Week reported that Turtle Bay's creditors have assumed control of the resort. And when I went to make a reservation, I noted the hotel's requirement for a "100% non-refundable deposit." I am familiar with one-night advance deposits, and I'm familiar with non-refundable deposits -- but 100% in advance? Am I wrong to be suspicious in connecting the ownership change report with the onerous deposit? I'd hate to pay fully in advance only to show up to find the place...closed.

Thanks for any insight.

Sydney, Australia
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1. Re: Turtle Bay in Receivership -- Bad News? or Just New Owners?

I thought it was just the Olsen Villas that had gone bust?

I'd also like to know if the TBR is going into receivership as I planning on booking their non-refundable rate in the next couple of weeks.

Might be an idea to call the hotel?

Honolulu, Hawaii
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2. Re: Turtle Bay in Receivership -- Bad News? or Just New Owners?

Turtle Bay has been in a slow-moving foreclosure action for several years...

The state and several major investors/developers tried to work out a deal for the resort, but none were successful. So, the creditors recently foreclosed on the debt, and the "ownership" group was forced out. Stanford Carr, a major Hawaii developer, is now heading the team which represents the creditor's interests.

He has recently stated the hotel will continue in operation under the existing management, the resort will defend its development entitlements, and they plan to start building agin in coming years.

There should be no difference in the hotel from a guest's perspective.

The reason they are asking for so much upfront is that they probably have a hard time getting credit or factoring their reservations. It is probably more of an inconvenience to you than a risk; but it does demonstrate the difficulties being experienced by the property

Saint Cloud...
Destination Expert
for Oahu
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28,116 posts
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3. Re: Turtle Bay in Receivership -- Bad News? or Just New Owners?

I just looked at their site. Not all of the packages require a 100% non-refundable deposit. Only some of their specials do.

turtlebayresort.com/Special_offers/Special_o…

Ohio
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137 posts
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4. Re: Turtle Bay in Receivership -- Bad News? or Just New Owners?

It is not unusual for hotels to offer reduced rates with the only catch being you have to prepay 100%. Our family did that last summer when we vacationed in California. We prepaid in both San Diego and San Francisco. We are currently booked at Turtle Bay for April with a 100% prepay option. However, since we have booked, the price for the prepay has gone up and the "Spring Sale" price is now the better way to go.

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San Diego
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newport beach
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5. Re: Turtle Bay in Receivership -- Bad News? or Just New Owners?

i just booked Turtle Bay for April and was not asked to pre pay.

Edited: 8:56 pm, March 12, 2010
6. Re: Turtle Bay in Receivership -- Bad News? or Just New Owners?

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