• Report: #277667
Complaint Review:


  • Submitted: Mon, October 08, 2007
  • Updated: Mon, October 08, 2007

  • Reported By:Boston Massachusetts
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

Boston, Massachusetts

This report was posted on Ripoff Report on 10/08/2007 07:26 AM and is a permanent record located here: http://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.

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