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Report: #277667

Complaint Review: ILX RESORTS, - PREMIERE VACATION CLUB SEDONA - Phoenix Arizona

  • Submitted:
  • Updated:
  • Reported By: Boston Massachusetts
  • Author Confirmed What's this?
  • Why?
  • ILX RESORTS, - PREMIERE VACATION CLUB SEDONA 160 Portal Lane, Sedona, AZ 86336 Phoenix, Arizona U.S.A.
  • Phone: 928-282-1777
  • Web:
  • Category: Lodging

ILX Resorts - Premiere Vacation Club - Sedona Vacation Club - Los Abrigados FRAUD - CHEATING ON MAINTENANCE FEES - STEALING FROM RESORT OWNERS Phoenix Arizona

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I just received the 2007 Budget in the mail and now can understand why there was a major class action law suit going on. Salary Related Expenses:Housekeeping Maids and Laundry=$1,242,000Front Desk, Reservations, PBX= $985,000Repairs and Maintenance= $821,00Management, Acctounting, HR $935,000Payroll Taxes and Benefits
$ 727,000. This totals $4,710,000. Then the expenses show
up:GeneralExpenses:Utilities/Telephone/TV $1,604,000, Repairs and Maintenance $ 529,000.Insurance $327,000Property Taxes $655,000 Operating Expenses and supplies $475,000 Guest supplies /Linen $551,000 Owner Services/Reservations/Communications/Other $798,000. These General Expenses add up to $4,939,000.

Then Reserves are added into the mix $ 1,500,000, follwed by Association fee $1,239,000.(There is no "Association") For a grand total of $ 12,388,000. How do I spell HIGHWAY ROBBERY? No wonder why ILX can pay a dividend. Just look at these absurd figures, then draw your own conclusions. Without out the above STEALING (Same as Bank Robbery) these crooks could NEVER show a profit on their phony P & L statement. If I were a stock holder I would file a complaint with the SEC for over stating earnings, and therefore, inflating the stock price. (AMEX) ILX

George
Boston, Massachusetts
U.S.A.

This report was posted on Ripoff Report on 10/08/2007 07:26 AM and is a permanent record located here: https://www.ripoffreport.com/reports/ilx-resorts-premiere-vacation-club-sedona/phoenix-arizona-85016/ilx-resorts-premiere-vacation-club-sedona-vacation-club-los-abrigados-fraud-cheati-277667. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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