Oaseas Resorts close leaving people without a place to stay - CBS46 News

Oaseas Resorts in Panama City Beach close leaving people without a place to stay

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If you plan to vacation along the Gulf Coast between now and Labor Day the condo you booked may not be available.

CBS Atlanta has learned a popular rental company in Panama City Beach, a popular vacation spot for many Atlanta residents, has closed its doors unexpectedly this week.

Conyers resident Jon Meier owns a condo on the coast and received an email this week from his rental management company, Oaseas Resorts, saying the company will be closing due to "management issues and economic conditions, including cash flow."

Owners say they haven't received rent payments for June or July and Meier is out roughly $10,000.

"So it absolutely infuriates me that somebody is holding or has removed thousands and thousands of dollars from my pocket," Meier said.

A former Oaseas employee sent this email to condo owners saying the company would not refund money to guests.

Oaseas management said they didn't anticipate the situation.

"We knew the economic conditions and so forth and other things were causing pain, but everybody thought it would work. Then it got to the point that it was wiser for us to start to close it down," Oaseas manager Thomas Duggan said.

Meanwhile, another Panama City Beach rental company, Emerald View, organized Operation Save Face. They've identified 50 condo owners willing to donate their units for next week.

"Somebody needs to help these guests because they saved their money all year to come down here and enjoy it," Emerald View manager Tom Donahue said.

Oaseas Resorts informed the public in a news release that they could contact The Resort Collection of Panama City Beach if they wanted to re-book.

CBS Atlanta News checked with The Resort Collection and they said you can book, but it's not free.

Also, Panama City Beach police said they are conducting a criminal investigation into the matter.

Oaseas Resorts also shut down the properties they manage in the Smoky Mountains.

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