Wednesday, May 16, 2012

What happened to Point to Point? Started in Vancouver in 1999 by Tom Walker and Johnny Saldat with the corporate name West Coast Timeshare Ltd. Had a nice Worldmark style concept with ownership of a few units in various hotels and resorts in British Columbia and Alberta.
Word on the street has it that they were sold out of real inventory after the first couple of years, but continued to sell and not register memberships with the B.C. Real Estate Board or RCI unless the client caused a major stink. Nice. Then, an inside source tells me, they allegedly found a way to get themselves appointed as the controlling board members of the Whistler Vacation Club and funneled funds from there into their own company in the form of an interest free and unsecured loan that apparently has still not been paid back. Several sources have also mentioned that the maintenance fee account mysteriously had its funds drained as well, and that commissions were often on the slow or no pay plan. Can you say embezzlement?
Match this up with extremely shady selling practices, massive complaints online and to the Better Business Bureau, and non existent customer service and you have yet another company that gives our industry a bad name. Click this link to see what I mean.Point to Point Sales Practices
In late 2010 Tom and Johnny finally admitted that their company was in financial trouble, citing the poor economy as the reason they were several hundred thousand of dollars upside down. For an undisclosed amount, Vacation Internationale took over the servicing of all Point to Point memberships, at least allowing the owners some possibility of usage. Read the summary from the initial meeting between V.I. and a few hundred Point to Point owners here --  V.I. takes over Point to Point
Any ex employees out there want to comment on this?

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