Post # 1
Hi Destination Wedding brides! I’ve been doing some research on venues and it seems like many beautiful luxury hotels are in financial trouble! Has anyone had to deal with this at all? This has me spooked! What happens if you have a contract with a hotel and they foreclose? If they’re in financial trouble, does the service suffer? Any advice at all?!
Post # 3
If a company forecloses, the property will probably be sold by the bank to make back the loan amount. I don’t know how this affects if someone has a rental there but I wouldn’t trust it.
Post # 4
We just had our wedding in Cabo, and to be honest, this didn’t even cross my mind. We had ours at a very nice resort which also does timeshares, which I’ve heard are down, but it didn’t affect our experience. If you are worried about the stability of a resort, I wouldn’t book a wedding there. The large/well known resorts will probably be fine.
Post # 5
This issue did cross my mind. I decided to pick a well-established resort which is part of a chain that has resorts elsewhere too. No guarantees though!
Post # 6
@viv137:i lived in Hawaii for 2 years and saw the resorts go in and out of business. I would reccomend going with a resort that is NOT is financial trouble. If the go into foreclosure before your day their is NOTHING you can do…you can’t get your money back, you have no venue, no food, no lodging…etc. If you need some suggestions(on the island of Oahu) I say turtle bay….it is on the north shore(which is less populated) and it is beautiful. Paradise cove is also amazing(and they do their own luaus there nightly).
Post # 7
We’re getting married in Mexico, but I reserached venues in various different countries. I haven’t come accorss any that have displayed financial troubles.
I think the best way to avoid loosing funds would be to book through a travel company and to purchase insurance. If anything ever fell through you’d be covered twice over (agency’s insurance + your own). Our insurance cost $120 for both Fiance and I (worth it I think!).
Post # 8
Thanks for the replies! I got really worried because I heard that the Ritz Carlton Kapalua (in Hawaii), our top choice, foreclosed in September…. and that’s a pretty established hotel chain….
and so I’ll definitely keep thinking of other options…