Legal Name: Palace Resorts SA de CV
Location: Cancun
Rental / Resale Companies: Majestic World Vacations
Common Issues: Rent weeks for profit, claim to be a good financial investment, claim to build equity yearly.
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There are no tax advantages in the USA or Canada when purchasing a timeshare in Mexico...
Read what other timeshare scam victims say:
Jane
I was duped into purchasing a palace timeshare, now i want out. The problem is I don't trust anyone involved in time shares, is it my best bet to unload it to charity or just stop payments and tell them to get stuffed?
Anne
We have been owners in Palace Resorts for 3 years now. We started with 8 free weeks, upgraded for 3 more and have 'earned' through referrals (others we have sent on our weeks with no timeshare commitment) 4 more weeks. We have a total of $35,000 invested and have 15 totally free weeks and have the opportunity to earn 8 more in the next 4 years. We are using it and having a ball vacationing at 5 star Palace Resorts. We do have RCI also and it cost us 0 for the first year and $99 for the second year. We have 5 free weeks with RCI. So far we have gotten everything promised us, use a beautiful Presidential Suite each year, we haven't tried to travel yet with RCI, we will see how that goes, but I know I got my monies worth.
Kari
Hola, mi pareja y yo compramos una membresia,pero ya no nos interesa y queremos cancelarlo, mi pareja llamo y le dijeron que mandara un correo pero no nos hacen caso, intentamos comunicarnos de nuevo y no hemos tenido resultados, estamos muy arrepentidos de haber gastado nuestros ahorros en esto y estar endeudados por algo que no le vamos a sacar provecho, creeo que ellos se aprovecharon de nosotros y no le simportó aún sabiendo que vivimos muy al día.
Jason
We gave $6,000 deposit for a $15,000 timeshare. When we came back home we realized that we got not what we were promised. The deposit was paid by a credit card. First i called to the Palace Resorts in Mexico, but nobody replied, so I disputed the amount through the credit card. After investigation the credit card refused our claim. We desperately need a good advise.
Efren
I was scammed by Palace Resorts for $10,000 plus costs. They will not honor the rental contract or the addendum to the maintenance contract which is quite clear. Maintenance fees frozen, 30 years for $700 per year of use.
Richard
We signed a contract with Palace Resorts, Palace Premier Membership . On returning home we decided that we had not made a very good decision and sent an email, a fax and a registered letter to Mr. Ortiz at Palace Resorts requesting that he cancell our contract. We believe that we are within the 5 day cancellation window. The downpayment has been deducted from our credit card. We have not received any communication about this from his office. We don't know what do next.
Efren
We also have a contract signed in 2006 which had many fraudulent promises including a return of a guaranteed $145,000.00 after 4 years. This was up last August 2010. we have not seen a penny, nor have we been reimbursed for our holiday this year at Belaire Golf and Spa.
Allen Hood
We recently gave it one last shot and ended up in Cancún where we got caught up in another timeshare scam. We were told that our existing timeshare would sell easily for more than we paid for it. I listed the timeshare with the company they gave us and we paid up front to have it listed. Now they won't return my calls and we are out the money.
Dave
My wife and i sold our Orlando timeshare in exchange for a timeshare at Cancun Palace Resort. We are not going there this year so as a member of RCI I wanted to deposit my week at the Palace Resort ony to find out... it cost $438 to deposit your week. I was imagining something no more than $150 at most like it was in our other resort. I was stunned at the price since we are just exchanging for another resort in RCI. Why such a high exchange rate?
Frederick McGowen
I had an excellent experience at Palace Resorts. I bought this membership a few years ago and I travel once every other month. I dont regret this and I recomend it to every one of you. I hear there are a few cases where problems occur, but this happens at every hotel, and the cases are minimum.
Brant
We bought a timeshare june 12th 2010 and we are wanting to get out of the contract. I have cancelled in writing but have not heard anything and since it was one day late I am sure they are not going to cancel it. Resort is telling us that Saturdays and Sundays are business days.
Susana
Palace permier no quiere cancelar el contrato que firmamos ya que nos enteramos que RCI-una de las companias con las cuales participan- tiene varias demandas legales por falta de cumplimiento de contarto. Palace Premier se niega a cancelar.
John
We took a tour of the Palace Resorts member benefits yesterday. At first we were reluctant, but ended up becoming members. THere are now a few things that we are concerned about. The interest rate on the promotional credit card is not what I was told (this we used to finance the down payment). and we were told that the pricing to come here would be 40% off as members. I did not see any information concerning a 5 day right of recission, nor was i asked to sign a 5 day waiver of recission. Does everyone have a 5 day recission period? ( and yes we were told we could sell our weeks to help us make a profit, etc.)
JC TAURO
We are in similar situation. Any resolution to your situation? We were not advised of the 5 day cooling off period. I went to Mexican Federal Consumer website (PROFECO) to ask for assistance. It has been a day, haven't heard from them yet. In the meantime Palace Premier is contacting me wanting to "sell back" my equity traded TS which I used during this transaction. What a fiasco....making me literally ill.