The Falls Condo POA: Subchapter V Timeshare 363 Sale

The Falls Condominium Property Owners Association, Inc., the homeowners association governing the timeshare resort known as Club Wyndham Branson at The Falls in Branson, Missouri, filed a chapter 11 petition on December 19, 2025, in the U.S. Bankruptcy Court for the Western District of Missouri. The filing is one of ten coordinated resort closures under Club Wyndham's "portfolio refresh," in which association boards voted to cease operations at aging legacy timeshare properties rather than fund deferred capital improvements. An HOA member vote on October 17, 2025 authorized the bankruptcy filing, resort closure, and property sale.

The debtor elected Subchapter V and is pursuing a Section 363(f) sale of the entire property free and clear of liens. The sale motion was filed on February 17, 2026, with a sale notice affidavit confirming notice for a March 11, 2026 hearing date. Hilco Real Estate LLC, the same broker engaged across multiple Wyndham resort bankruptcies, was retained to market the 31-year-old property. The resort ceased operations on December 31, 2025, and 2026 maintenance fees have been suspended.

Debtor	The Falls Condominium Property Owners Association, Inc.
Court	U.S. Bankruptcy Court, Western District of Missouri
Case Number	6:25-bk-60870
Petition Date	December 19, 2025
Judge	Hon. Brian T. Fenimore
Claims Agent	Omni Agent Solutions, Inc.

363 Sale Process

Sale motion. On February 17, 2026, the debtor filed a motion to sell the condominiums at Fairfield Branson at The Falls free and clear of liens, claims, interests, and encumbrances under Section 363(f). The motion includes proposed bidding procedures and a form of Bidding Procedures Order. A sale notice affidavit supports notice for a March 11, 2026 hearing at 11:00 AM by Zoom audio. The response deadline is March 10, 2026.

Sale structure. The sale seeks to convey the entire property free and clear under Section 363(f). The property uses a timeshare ownership model with multiple tenant-in-common holders, including PTVO Owners Association and individual deeded owners. The debtor may also invoke Section 363(h), which permits sale of the estate's interest along with co-owners' interests. The analogous Star Island case in the Middle District of Florida uses Section 363(h) for a similar co-ownership sale structure.

Hilco Real Estate. On the same day, the debtor filed an application to employ Hilco Real Estate LLC as real estate broker to market and sell the property. Hilco is a national real estate advisory and disposition firm specializing in Section 363 sales, court-approved auctions, and negotiated transactions. Hilco has been engaged across multiple Wyndham legacy resort bankruptcies, including the Pagosa Springs properties in Colorado.

Bidding procedures. Specific terms regarding bid deposit requirements, overbid increments, stalking horse designation, and break-up fee provisions are contained in the exhibits to the sale motion. Hilco will manage the marketing process. As of February 23, 2026, no objections to the sale motion have been filed.

Owner options. Timeshare owners have two paths following the sale:

1. Cash distribution from sale proceeds. Owners may receive a pro rata distribution from the net sale proceeds after satisfaction of administrative costs, secured claims, and priority claims.
2. Club Wyndham Access points swap. Owners may exchange their deeded interests for Club Wyndham Access points at a 2026 rate of $8.47 per 1,000 points, enabling continued use at other Club Wyndham resorts. Swap letters have been sent to eligible owners.

Member communication. On February 17, 2026, the debtor filed a motion regarding a letter to association members concerning the bankruptcy process and their options. A related notice affidavit supports hearing notice for this member communication process.

Sale Motion Filed	February 17, 2026
Hilco Employment Application	February 17, 2026
Member Letter Motion Hearing	February 24, 2026
Response Deadline	March 10, 2026
Sale Hearing	March 11, 2026, 11:00 AM (Zoom)

Property Background and Wyndham Connection

Property history. The condominium declaration for Fairfield at the Falls Condominium was recorded on May 18, 1994, in Book 325, Page 8935 of the Office of the Circuit Clerk and Recorder for Taney County, Missouri, submitting the property to a condominium form of ownership under Missouri law. At the time of the bankruptcy filing, the property was over 31 years old.

Branding history. The resort has operated under several brand names reflecting successive corporate ownership changes. It was originally developed as part of the Fairfield Resorts system, a subsidiary of Cendant Corporation, later rebranded to Wyndham Branson at The Falls following Wyndham's acquisition of Cendant's hospitality assets, and most recently operated as Club Wyndham Branson at The Falls within the Club Wyndham timeshare exchange network. The sale motion refers to the property as "Condominiums at the Fairfield Branson at The Falls," reflecting the legacy Fairfield name in the condominium declaration.

Resort configuration. The resort offers three unit types: studio deluxe units (350 square feet, 2 guests), one-bedroom deluxe units (744 square feet, 4 guests), and two-bedroom lockoff units (1,094 square feet, 6 guests). The property is described as a "peaceful, wooded resort, just three miles from the Highway 76 Strip" and holds an RCI Silver Crown Resort Award. Amenities include a barbecue area, shuffleboard, sunbathing area, seasonal outdoor pool, and Wi-Fi.

PTVO ownership structure. The property uses a timeshare model in which individual owners hold deeded fractional interests. PTVO Owners Association, Inc., a non-stock nonprofit Delaware entity that holds Club Wyndham Access inventory at multiple resorts, also holds tenant-in-common interests at the property. PTVO's inventory is deeded to First American Trust, a Federal Savings Bank, as trustee. This ownership structure means the sale motion addresses both the association's interests and co-owners' interests under Section 363(f), and potentially Section 363(h).

Management. The resort was managed by Wyndham Vacation Management, Inc., a subsidiary of Travel + Leisure Co. (the corporate successor to Wyndham Destinations), under a management agreement. First day motions included applications for authority to continue certain management services during the bankruptcy wind-down period.

Wyndham Portfolio Closure Context

Portfolio refresh. Club Wyndham announced a "portfolio refresh" in 2025 under which association boards at ten legacy resorts voted to cease operations at year-end 2025. The ten resorts are:

1. Club Wyndham Branson at The Falls (Branson, MO) — this case
2. Club Wyndham Fairfield Glade (Fairfield Glade, TN)
3. Club Wyndham Shawnee Village (Shawnee on Delaware, PA)
4. Club Wyndham Bentley Brook (Hancock, MA)
5. Club Wyndham Fairfield Bay (Fairfield Bay, AR)
6. Wyndham Skyline Tower (Atlantic City, NJ)
7. Club Wyndham Orlando International (Orlando, FL)
8. Club Wyndham Newport Bay Voyage (Newport, RI)
9. Club Wyndham Newport Overlook (Newport, RI)
10. Club Wyndham Patriots' Place (Williamsburg, VA)

An additional four legacy resorts are also exiting the Club Wyndham system, bringing the total to approximately 14 properties.

Stated rationale. Wyndham identified several factors guiding closure selections: owner occupancy rates, survey feedback, projected maintenance fees, and potential infrastructure upgrades requiring costly assessments. The stated goal was to "keep maintenance fees affordable, avoid costly special assessments." Maintenance fees for closed resorts will not be charged for 2026.

Capital expenditure at sister resorts. While property-specific capital figures for The Falls have not been publicly disclosed, the analogous Bentley Brook property (152 units in Hancock, Massachusetts) faced $13.2 million in estimated upcoming capital projects, despite finances described as "currently sound." The Pagosa Springs property (70 timeshare units in Colorado) faced $19 million in repairs and capital improvements over six years.

Strategic filing pattern. The bankruptcy was authorized by owner vote and followed a sequence of corporate announcement, HOA vote, resort closure, and chapter 11 filing. The analogous Bentley Brook case was described as "currently sound," while owners voted for sale rather than funding additional capital projects.

Branson area consolidation. The Falls is one of three former Fairfield/Wyndham resort sections in the Branson area; the other two — Branson at the Meadows and Mountain Vista — remain operational. The TUG forum characterizes the disposition as "area consolidation — resort sale," confirming this is a targeted property-level exit rather than a withdrawal from the Branson tourism market.

Coordinated professional team. Multiple Wyndham resort bankruptcies share the same professional team: K&L Gates LLP (special counsel, Daniel Eliades), Omni Agent Solutions (claims agent), and Hilco Real Estate LLC (broker). The Star Island case in the Middle District of Florida, the Pagosa Springs cases in the District of Colorado, and The Falls in the Western District of Missouri all use this common professional infrastructure.

Case Administration

Subchapter V election. The debtor elected Subchapter V (small business chapter 11), which provides a streamlined process with lower administrative costs and no unsecured creditors' committee requirement. The structure is appropriate for a single-asset liquidation with a concentrated creditor base — the voluntary petition reports an estimated 1 to 49 creditors.

Estimated assets and liabilities. The voluntary petition reports estimated assets of $10 million to $50 million and estimated liabilities of $500 million to $1 billion. Public sources do not provide a detailed breakdown of the reported liability range.

Debtor's counsel. Spencer Fane LLP (Camber Jones) serves as bankruptcy co-counsel. Jones is a member of the firm's Banking and Financial Services Group and was selected to the American Bankruptcy Institute's 2024 40 Under 40 Class. Spencer Fane serves as local co-counsel, complementing K&L Gates' national timeshare bankruptcy expertise.

Special counsel. K&L Gates LLP (Daniel Eliades) serves as special co-counsel. Eliades is a partner in K&L Gates' Newark office specializing in timeshare industry restructuring, representing timeshare developers, resort owners, associations, and exchange companies in debtor/creditor matters. K&L Gates serves as special counsel across multiple coordinated Wyndham legacy resort bankruptcies.

Accountant. Myers Brettholtz & Company P.A., a Fort Myers, Florida-based CPA firm specializing in accounting for timeshares, condominium associations, and nonprofit organizations, was retained as accountant. The firm's president, Steven Brettholtz, is a past chair of the Florida Institute of Certified Public Accountants Common Interest Realty Association Committee.

Claims agent. Omni Agent Solutions, Inc. was approved as claims and noticing agent on January 21, 2026, through an order approving retention of the claims agent.

First day orders. The court entered first day orders on January 21, 2026, granting the following relief:

Prepetition Taxes	Granted
Insurance	Granted
PII Suppression	Granted
Claims Agent (Omni)	Granted
Cash Management	Granted

The PII suppression order limits public disclosure of owners' personal information in schedules and related filings.

Status conference. A Subchapter V status conference minute entry reflected that the debtor anticipated filing the sale motion and expected a March 11, 2026 sale hearing. No material disputes have been raised. As of February 23, 2026, no objections to the sale motion, employment applications, or other substantive motions have been filed.

Operating Results During Wind-Down

December 2025 monthly report. The debtor's first monthly operating report for the period December 19 through December 31, 2025 reported an opening cash balance of $844,379.91, cash receipts of $221,602.49, and month-end cash of $1,065,982.40. The filing indicates the association remained operational during the partial month while transitioning toward sale procedures.

January 2026 monthly report. The next monthly operating report for January 1 through January 31, 2026 reported total cash receipts of $240,046.84, with bank statements and reconciliation reports attached to the filing. The report was signed by Shawn Losk, identified as Regional Controller.

Reporting posture. The January report states that the debtor planned to continue operations in the following month and filed supporting financial statements with the MOR package. In the context of a Subchapter V sale process, the MOR data indicates the association continued to collect cash and fund operating disbursements while the sale hearing calendar moved forward.

Frequently Asked Questions

What is the Branson at The Falls bankruptcy about?

The Falls Condominium Property Owners Association, the HOA governing the timeshare resort known as Club Wyndham Branson at The Falls, filed chapter 11 on December 19, 2025. The association is pursuing a Section 363 sale of the entire property free and clear of liens after members voted to close the resort rather than fund deferred capital improvements. The resort ceased operations on December 31, 2025.

Why did The Falls Condominium file for bankruptcy?

The filing is part of a coordinated closure of ten Club Wyndham resorts in which association boards voted to cease operations rather than fund costly infrastructure upgrades. Wyndham cited declining owner occupancy, rising projected maintenance fees, and the need for significant capital expenditures as selection factors. The analogous Bentley Brook resort described its finances as "currently sound" but faced $13.2 million in upcoming capital projects, indicating these are preemptive liquidations rather than distress-driven filings.

What options do timeshare owners at The Falls have?

Owners have two options: receive a pro rata cash distribution from the net sale proceeds after satisfaction of administrative costs and priority claims, or exchange their deeded interests for Club Wyndham Access points at a 2026 rate of $8.47 per 1,000 points, enabling continued use at other Club Wyndham resorts. Swap letters have been sent to eligible owners. Maintenance fees for 2026 will not be charged.

When is the sale hearing for The Falls property?

The sale notice affidavit supports notice for a March 11, 2026 Zoom hearing. The sale motion was filed on February 17, 2026, and the response deadline is March 10, 2026.

What other Wyndham resorts are closing?

Ten Club Wyndham resorts voted to cease operations at year-end 2025, including Fairfield Glade (Tennessee), Shawnee Village (Pennsylvania), Bentley Brook (Massachusetts), Fairfield Bay (Arkansas), Skyline Tower (New Jersey), Orlando International (Florida), Newport Bay Voyage (Rhode Island), Newport Overlook (Rhode Island), and Patriots' Place (Virginia). An additional four legacy resorts are also exiting the Club Wyndham system, bringing the total to approximately 14 properties. Multiple resorts are using chapter 11 filings to conduct orderly property sales.

Are the other Wyndham Branson resorts affected?

No. Branson at the Meadows and Mountain Vista remain operational. The TUG forum characterizes The Falls disposition as "area consolidation — resort sale," meaning Wyndham is consolidating its Branson footprint rather than exiting the market.

What is PTVO Owners Association and why does it matter?

PTVO Owners Association, Inc. is the non-stock non-profit Delaware entity that holds title to Club Wyndham Access inventory at multiple resorts. At The Falls, PTVO holds tenant-in-common interests alongside individual deeded owners. Because PTVO holds a co-ownership interest, a sale under Section 363(f), and potentially Section 363(h), addresses both PTVO's interest and individual owners' interests.

Who is the claims agent for The Falls Condominium Property Owners Association?

Omni Agent Solutions serves as the claims and noticing agent. The claims-agent retention order authorizes that role. The firm maintains the official claims register and distributes case notifications to creditors and parties in interest.

For ongoing coverage of chapter 11 cases, visit the ElevenFlo Chapter 11 Intelligence blog.