Consolidated Resorts Inc., a timeshare based in Las Vegas, has shut down its sales and marketing operations and is planning to file for bankruptcy.

The company owns several resorts, including Tahiti, Tahiti Village, and Club de Soleil. It made the announcement last Tuesday.

“As a result of the dramatic changes in the economy and the shrinking timeshare lending environment, Consolidated Resorts, Inc. has shut down its sales and marketing operations in Las Vegas, Orlando and Hawaii and will file for bankruptcy protection,” said Ken Chupinsky, a company spokesperson. “The scarcity of lenders in the timeshare industry has made it impossible to continue the company.”

Chupinsky continued, “What doesn’t change for all of the owners that have purchased from us for over 25 years is the continued operation of the 14 resorts. The resorts will continue to operate uninterrupted so owners that have reservations do not need to worry.”

Owners who had questions were referred to Soleil Management.

The officials did not discuss what the shutdown will do to the jobs in the organization.