Celebrity Resort Files for Chapter 11 Bankruptcy Protection

March 09, 2010

Celebrity Resorts LLC and its affiliates have filed for Chapter 11 bankruptcy protection, listing tens of millions in estimated liabilities.

The Orlando-based time-share company listed just two unsecured creditors, International Escrow Services of Atlanta and Resort Condominiums International of Carmel, Ind. But about three dozen other filings, including Celebrity Resorts of Orlando LLC and Celebrity Resorts of Lake Buena Vista LLC, listed pages of additional creditors.

In the bankruptcy filings, the company's chief executive officer, Jared Myers, said he is owed $680,812 in unpaid compensation. A lawyer for the company could not be immediately reached for comment.

Celebrity Resorts began showing signs of distress as early as July 2008, when it announced it was cutting an unspecified number of jobs and eliminating an area of its marketing business that was unprofitable.

According to the time-share company's Web site, Celebrity Resorts has properties in 13 locations across the U.S. The company was formerly known as Resort World, a family-owned business that started selling time shares in the Caribbean in the 1970s and then in the Orlando area in the 1980s.

In August 2008, Celebrity purchased Quintus' interest at Hanalei Bay Resort in Kauai. Condo and timeshare owners at Hanalei Bay Resort soon became unhappy with Celebrity's management and began trying to oust them. Owners were sucussful in removing Celebrity as manager late last year by buying out their contract. Terms of that contract are undisclosed.

Celebrity still owns the restaurant and lounge at Hanalei Bay Resort.

Visit Kauai or Kona for Less Before May 20th

If you’ve been thinking about escaping winter, now is the time to go to Hawaii because fares and rates are low.


Airfare:
Travelzoo just announced special airfares to Hawaii from 11 US cities including, Los Angeles, Salt Lake City, Denver, Des Moines, Milwaukee, New Orleans, Chicago, Atlanta, Asheville, Pittsburgh, and Washington, D.C. starting as low as $291. Many of these flights normally start at $800 roundtrip or more. Your travel just has to be completed between now and May 20. Go to this link for more information and to book your flight: http://www.united.com/page/article/1,,50078,00.html

Accommodations:
SummitPacific is running a list of owner rented Kauai vacation rental homes and condos that are being offered at up to 40% off the regular low rates. To get these rates visit this link Hawaii Vacation Deals. Although there is only a limited number of properties listed on the above page. You can see more options for great Kauai vacation rentals.


Car Rentals:
And finally, to rent a car on any of the islands at up to 50% off all islands, be sure to check out SummitPacific’s Hawaii Car Rental deals. Summit has negotiated special rates from Avis, Budget, Thrifty, Alamo, and Enterprise. These rates are so low that they aren’t allowed to even mention the company’s name in their advertising, but when you send in your request, you’ll hear back from the car rental company with the lowest rate.

What could be better?  Or easier?

Kauai Vacation Homes

SummitPacific has recently added several new homes to its collection of vacation rental homes on Kauai. Vacation homes offered by owers on Kauai are available for your next visit to the islands.

Hale Emmalani in Princeville is a 3 bedroom home that can accommodate up to 10 guests and it even has its own private lap pool.

Hale Kepuhi Beachfront Home is a beach lover’s dream home. Located near the end of the road in Haena, guests can enjoy a gorgeous stretch of beach in front of the home, nearby Tunnels Beach, or they can sit on watch the ocean right from this spectacular home’s large private lanais.

The Dolphin Estate is a 5 bedroom beachfront home perfectly located on Hanalei Bay. This is the ultimate getaway for those that can afford the best.

Kainalu Hanalei is just short walk to the beach and also convenient to the town of Hanalei.

SummitPacific has a growing number of fine vacation rental homes on Kauai available for weekly and monthly rentals. Beach homes and Kauai cottages offer a great value over hotels and resorts, and a large variety of choices is available. SummitPacific has options from Haena, Hanalei, Princeville, Anahola, and Poipu and lots of places in between. You’ll find a wide range of prices to fit your budget.

Vacation homes offer a good value when compared to staying in a hotel. Especially for families or those traveling in groups or with other couples.  When you compare the amount of private living space with a hotel room you'll see the difference.  Plus, vacation homes don't have all the extra charges that you'll incur in a hotel.  Many homes come with extras like entertainment centers, wide screen TVs and DVDs.  Free parking and even garages are available, plus many homes have a closet full of beach toys, coolers and beach chairs waiting for you.

Privacy is also a plus with vacation homes. You can come and go as you please without walking through crowed hotel lobbys.  Vacation homes are more like staying at, well... like staying at home.

Of course hotels do offer some advantages that are hard to beat.  Things like in-house restaurants, bell service, concierge desks, and other services are nice.  But you should consider what type of vacation you are expecting and what is important to you.  Remember, it's your vacation.