Over the past months Inside Timeshare has been highlighting a scheme which was being sold by Silverpoint and their various marketing arms, The Company Participations Scheme. Well it looks like a new “scheme” is underway, this time from Excel Overseas Holdings Limited, a company based in Dubai at the following address: PO Box 7191, Jebel Ali, Dubai.
They do have a website: http://exceloverseasholdings.com/ But as you will see it is still under construction, which we find very strange considering they are trading!
It appears that the purchaser of this “participation programme” for the outlay of considerable amounts of money are rental rights to certain resorts accommodation. From the information received these are:
- The Dream Hotel, Phuket Thailand
- The Americano Hotel, Daytona Florida
- The Lodge Hotel, “Twin Lakes Country Club”, Lancashire
- “The Club Lodge” Forest lakes Country Club, Nova Scotia Canada
As with the “Company Participation Scheme” these will be rented out with the purchaser receiving 6.05% fixed rental revenue. They will also after a number of years been promised to receive a full repayment.
From the two enquiries we have received so far about this “new scheme” one paid over 39,000€ the other has paid over 57,000€, neither have received any rental payments and have not received the repayment promised.
When we start to look at the companies involved, many of the names are all very much linked, first we have Lodgequest Operations Limited, among the directors are Franz Marcus Deutsch, also associated with Keys Concierge, Colm Hayden and Mark Cushway, although he resigned as a director in October 2017. Keys Concierge registered address is also 1 Bedford Row London.
At one point both these companies were registered at the same address: 1 Bedford Row, London, but in July 2016 Lodgequest Operations changed their registered address to: Kentisbury Grange, Kentisbury, Barnstaple, Devon, England, EX31 4NL, obviously the Berkeley Square address is the operating office.
As we delve deeper we also find Diana Aitchison, who was once Chief Operating Officer at Silverpoint for Mark Cushway at Silverpoint, is now working in the same role at Excel Spain (Tenerife).
She is also linked to another company as a director, Vacation Finance Limited, where Mark Cushway was also once a director. The address is, you’ve guessed it, 1 Bedford Row; London. This company has also appointed Signallia Marketing Distribution SA as their representatives (noted from the foot of their website https://www.signallia.com/ ), which as we know is the new name for Silverpoint Vacation Solutions SA.
So we do have a very tangled web indeed, just on this alone, along with the past deeds of the persons and companies involved, from the “investment packs of timeshare weeks” to the “company participation scheme” and now the “Excel participation programme”, can you actually trust what they are selling?
Previous articles on Silverpoint Company Participations.
As you will see from the end of year accounts for 2018, Lodgequest Holdings has capital and reserves of minus £18,380. I don’t know about you the reader but this does not look good for any company. So will the purchasers get what they are promised?
Click on the PDF below for the December 2018 accounts.
If you have had any dealings with Excel Overseas Lodging Participation Programme, The Company Participations Scheme or any of the old Silverpoint Investment Packs, then use our contact page and get in touch. We will answer any questions or concerns regarding any purchase you have made, then point you in the right direction to resolve the matter.
Following are PDFs of the Company House records. You will also notice another name on some documents, the late Robert Trotta, the man behind Resort Properties / Silverpoint and all associated companies