other vacation ownership

Discussion in 'Timeshares' started by Kagehitokiri, Feb 19, 2011.  |  Print Topic

  1. Kagehitokiri
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    Kagehitokiri Silver Member

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    have those with a fairly high value TS portfolio ever considered other forms of vacation ownership - whether full/fractional ownership, destination clubs, etc?
     
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  2. Cholula
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    Cholula Milepoint Guide

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    I'm not sure about all the Marriott MVCI properties worldwide but at least the ones in Hawaii are what is called "shared ownership". If you have one week, you own 1/52nd of a specific unit (even though you are free to use other units) and also have a percentage ownership in the property, buildings etc. And you get a deed for same just as you do for buying a house.

    Not sure how this differs from what you refer to a fractional ownership. And I'm also not sure what "destination clubs" are. Can you elaborate?

    Thanks....
     
  3. Kagehitokiri
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    timeshare = one week (lets stick with deeded week regardless of points, for comparison)

    fractional = multiple weeks

    full = buy a house etc

    destination club >
    mostly with equity stake (structure varies, some are like REITs), where you pay a deposit and dues and have access to properties that are fully owned (purchased or leased) by the club

    ("vacation clubs" / "holiday clubs" = brokers of timeshare rentals)
    (there are some companies that call themselves destination clubs when they are either a property rental broker, or only lease properties, instead of owning any)
     
  4. Cholula
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    I believe that most timeshares are or were just exactly that. A share of time.

    You "owned" a weeks worth of time at your property but had no financial stake in the buildings or property. And it wasn't deeded.

    I'm not sure if those are still sold nowadays or not as we just own the Marriott Hawaii units.

    And I'm not sure how timeshares where you own the property and buildings and timeshares where you own nothing but a share of time differ in what they are called.

    Are both simply timeshares? There's a world of difference in cost and value between the two.

    I know there is a large timeshare IBB known as TUG but I never spent much time there. I didn't find it very welcoming and I also thought it was confusing and hard to navigate.
     
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  5. Kagehitokiri
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    Kagehitokiri Silver Member

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    hmm?

    fractional is like a timeshare except it is a larger fraction than 1/52.

    basically, destination clubs are the only model that offers exchange-free travel. also, there is currently one destination club that offers unlimited travel, for free, for reservations less than 30 days out.
     
  6. sobore
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    sobore Gold Member

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    Honestly, I've never met anyone that did not have a fair amount of regrets after timeshare ownership.
     
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  7. Kagehitokiri
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  8. magic111
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    We use to own a membership to a vacation club in Europe some time ago.

    We eventually got out as the difference in paying maintenance with dollars converted to sterling and euros made it more expensive than finding accomodations via other means. Also not living in the cities of Europe meant we were just as likely, if not more, wanting to visit those cities and not the resorts where the vacation club had units.

    My daughter and her husband own a membership to a resort in Cancun. They own 30 weeks that they can use anytime within a 30 year period. They only pay maintenance when they book a week. So if they wanted and there was availability they could book all 30 weeks in a single year or they could book 30 units within a single week. They also have the option to trade with Interval. They do not have a deed.
     
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  9. magic111
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    I guess you do not get out often. [​IMG]
     
  10. gemac
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    Could you share what that one destination club is? If not by posting, then by conversation? Thanks.
     
  11. Hi Kage .... followed your thread from TUG ( Timeshare Users Group ) MB to here.

    Question -- should the title for this forum be TS-Fract-DC ? and not just TS ??

    Noticed ( Mon Feb 21 ) a HGTV House Hunters International showed 2 fractionals and a home in Turks .... but no details on how the weeks are allocated or awarded ... and how 'issues' are settled amoung owners of the home ... Fractionals could be good ...and could be ...well ...hell!

    Gemac -- you can try this link for DC ( destination clubs ) ... http://www.tugbbs.com/forums/forumdisplay.php?f=48

    Greg
     
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  12. gemac
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  13. AmericanGirl
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    We have never regretted our timeshare investment and have used it every year because we love the location and the property itself. The current promtion from the Royal Resorts is the Grand Residences outside of Playa del Carmen, Mexico. It will offer minimum 4 weeks ownership up to full-time. Unfortunately, the maintenance fees will be $5,000 per month which is prohibitive. If I am going to pay that much per month, on top of the unit cost, then we will just buy a complete vacation home elsewhere.

    There is also talk that when the Royal Mayan lease term, where we own, is up and if the owners win the bid, they will change it to the same type of ownership with a minimum 3 weeks. Fortunately we will get our residual back (well one way or another and that's a whole other story) and use that to invest elsewhere.
     
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  14. travelfree
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    I have always been reluctant of purchasing any non-US timeshare for the very reason that rules can be changed and t/s owners rights may or may not be enforceable.

    The state of Florida probably has one of the toughest t/s owners rights laws in the US and I feel confident that my contracted rights in Disney Vacation Club is enforceable.

    My Worldmark t/s situation is not so certain as Wyndam management has control of the Board of Directors of Worldmark and does not always act in the best interest of the owners. We have been fighting for fair representation for years and have made modest in roads but it still remains an unbalanced situation. The fight continues.

    I did stay at Royal Sands in Cancun last year and loved the property and our stay (despite Hurricane Paula missing us by 60 miles). I even attended the t/s presentation meeting out of curiosity but I would not buy there.
     
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  15. emajy
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    Marriott is going to a points system so you don't actually own anything. This is going forward so those who do own the week the deed still counts.
     
  16. Yeah, I feel the best deal for owners is having fixed weeks, the transition to points is better for the timeshare companies, the points leave you having to scramble and stress over booking a time in time at your "timeshare"
    lol
     
  17. Kagehitokiri
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  18. rosiew

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    Timeshares are good for large families who want spacious rooms and amenities within the resort. Timeshares are not for most people. Many families have made the mistake of purchasing a timeshare based on misrepresentations told by their sales rep. These lies are usually uncover after the rescission period. Therefore, The owner is stuck with a purchase that they can’t get rid of.
     

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