Pacific Monarch Resorts Inc., a Laguna Hills timeshare company, is laying off 64 people, including 47 in Orange County, as part of a post-bankruptcy consolidation.
This is part of their Chapter 11 bankruptcy they filed last October. Pacific Monarch Resorts timeshares included 9 timeshare resorts which were bought up by Diamond Resorts. Some of the Pacific Monarch timeshare resorts were very well known. Most were located in the western US and included these: Riviera Beach & Spa Resort and the Riviera Shores Resort, both in Capistrano Beach. Cabo Azul in San Jose del Cabo, Mexico; Cancun Resort in Las Vegas; Cedar Breaks Lodge & Spa in Brian Head, Utah; Desert Isle of Palm Springs; Palm Canyon Resort & Spa in Palm Springs; Riviera Oaks Resort & Racquet club in Ramona, Calif., and Tahoe Seasons Resort in South Lake Tahoe.
The big picture for the timeshare industry in the US is looking better than 2007 – 2010. Numerous timeshare developers are rehiring, restarting dormant building projects, and reporting higher tours and sales. That is good news for everyone involved in the timeshare industry and the economy as a whole. As the public regains confidence in the economy they spend more of their money on luxury items like boats, second homes, travel, and timeshares.
We are not talking about the huge timeshare sales era of the early 2000’s but any recovery is welcome!