[ 2014 ] Letter from Gold Key Resorts: Acquired Barrier Island Station Kitty Hawk

[Egret1986]

Gold Key Resorts is the developer of several properties in Virginia Beach. They have higher end properties than the other Virginia Beach resorts. I am an owner at a couple of their resorts currently. I am also an owner at Barrier Island Station Kitty Hawk. Originally, Barrier Island Station Duck and Barrier Island Station Kitty Hawk were in the same group, along with Barrier Island's Ocean Pines. The two Duck resorts broke the grip of the Developer and are now managed by SPM Resorts. The Kitty Hawk resort is still in active sales. Each of my timeshares at Barrier Island Station Kitty Hawk are in RCI Points. All the Gold Key properties are affiliated with Interval.

According to the letter:

Introductions
We are very pleased to inform you that Barrier Island Station has been acquired by Gold Key Resorts....., and we welcome you to our family of more than 30,000 owners. While headquartered in Virginia Beach, we are very familiar with the Outer Banks and are extremely excited about the potential for Barrier Island Station in Kitty Hawk.

The Vision
Our goal is to revitalize Barrier Island Station into a world-class resort that enriches your vacation experience and increases your property value and exchange opportunities. Your ownership will not change, however your usage and enjoyment will.

More to Come
In the coming weeks, you'll receive announcements about our plans for Barrier Island Station renovations. We will provide a special preview of these improvements at the November owners' meeting, where we hope to meet you in person and answer any questions. So stay tuned because we have a lot to share. You're going to love the new Barrier Island Station.


I really don't know what to think about this news.


"...ownership will not change.....usage...will.

 

[avad88]

We own there and got the same letter. We have points also at BIS, so I wonder if all the gold key resorts will now be on our home group with RCI.
I hope our maintenance doesn't go up too much, but I am afraid there will be lots of changes.:annoyed:

 

[tschwa2]

I don't see gold key moving to rci. If anything kitty Hawk will become dual affiliated or they will sell unsold inventory as club interval gold points. I would also think they may want some upgrades so look for a SA and/or higher mf's.

 

[glenmore]

I got the letter too and will be most curious to see what they mean by " Your ownership will not change, however your usage and enjoyment will ."

We have a fixed week that we bought because we wanted that particular summer week. We have it as points.

Has anyone had experience with Gold Key Resorts buying their resort?

Not surprised about possible SA as units need to be upgraded

 

[RuralEngineer]

Gold Key Resorts

I have heard about the Outer Banks expansion for some time. There is talk about Gold Key developing an internal exchange system. Gold Key has been good to VA Beach.

Stephen

 

[dsexton]

Glad to hear this !

I am a Gold Key owner at VA Beach and have been very happy thus far. I'm excited to hear this news, as we enjoy the Outer Banks also.

 

[harveyhaddixfan]

I just got this letter in the mail today. I too am concerned. I am purchasing a points unit through Sumday and was going to add my week (Not in points) to this new RCI account as points or points for deposit. Now I'm not sure what I will be able to do.:annoyed:

 

[sjuhawk_jd]

I am a Gold Key owner at VA Beach and have been very happy thus far. I'm excited to hear this news, as we enjoy the Outer Banks also.

I own at Gold Key resorts in VA Beach and I will be happy too with this news. I try to avoid gloom and doom scenarios and I try to give a break to the quality developers (such as Hilton, Gold Key, etc.).

 

[Egret1986]

I really believe this could be a beneficial boost to a resort that is off the beach.

I try to avoid gloom and doom scenarios and I try to give a break to the quality developers (such as Hilton, Gold Key, etc.).

This just came at a time when someone was interested in purchasing two of my RCI Points timeshares at the resort. When they said they wanted to buy, I hadn't opened the letter. That night, I opened it. I had received the letter several days previously but thought that it was something being advertised by Gold Key. I never imagined that it would be relative to my Barrier Island Station timeshares. I informed the potential buyer of the letter and indicated that I had no idea what "Your ownership will not change, however your usage and enjoyment will" could mean.

This resort has always had a great RCI points-to-maintenance-fee ratio for summer weeks. It's the only resort on the Outer Banks where you can still pick up summer weeks at a decent price in units that accommodate up to 12 people.

I have been pleased with owning at several of the Gold Key Resorts in Virginia Beach.

Currently, my only concern is how this will effect my RCI Points. I think, for Barrier Island Station Kitty Hawk, as an Outer Banks timeshare resort, it has the potential to be very positive for the owners. All timeshares on the Outer Banks are "rustic". Gold Key Resorts have more modern resorts, furnishings and amenities.

I don't know if Beach Quarters (older Gold Key resort in VA Beach) has ever had a special assessment, but none have been assessed at the other resorts there, which were built from the ground up; whereas Beach Quarters was a former Clarion Hotel.

There may be a special assessment. I don't know that anyone "not in the know" can predict that accurately. Perhaps, revamping the resort is part of the acquisition plan. Who knows. Special assessments aren't always a bad thing in my opinion. I've been through assessments at four different resorts this year. For the most part, the assessments and resulting renovations will personally improve my ownership and stays at these resorts. However, I understand that not everyone can come up with this unexpected outlay of cash.

The resort is currently in developer sales and there are still areas of the resort where future units were planned by Barrier Island Station. There's definitely the potential for increased maintenance fees. Everyone has been charged the same maintenance fee at this resort for any size of unit. All units are lock-outs. There are 2, 3, and 4 bedroom lock-outs. Gold Key Resorts adjusts the maintenance fees according to unit size. Owners may see this happen at BIS. I have to agree with this practice. A 4BR lock-out takes more to maintain and refurbish than a 2BR lock-out.

I will hang onto my timeshares at the resort and await the promised upcoming announcements and will attend the owners' meeting in November. I am optimistic.

With this acquisition, I believe Barrier Island Station will have the potential to join the only other resort on the Outer Banks in "Gold Crown" status, Outer Banks Beach Club II. It could happen.

 

[harveyhaddixfan]

I spoke with someone today at BIS-KH. I don't recall her name. But the whole "Your ownership will not change, however your usage and enjoyment will ." was really not worded right. What they mean by "your usage and enjoyment will" is exactly what I thought. Nothing is going to change. It just appears that Gold Key is going to be dumping money into the resort so that our "usage and enjoyment" is improved. I can tell that they are still working everything out. I had called Gold Key and they directed me to their guy that is there and it should have been the lady I spoke with. All in all, I think this is going to be beneficial for all. It also appears that they aren't changing anything with the affiliation with RCI as I feel that would make it harder to sell the new units.

 

[Egret1986]

Received my Letter today regarding the upcoming meeting with the agenda

Some of the things on the Agenda

-Developer Board Appointment
-State of the Property and Management Changes

- Vision of the Resort by Bruce Thompson, Gold Key Resorts, CEO

- Board Recommendations
*2015 Annual Budget and Maintenance Fee
*Special Assessment

I'm really looking forward to this meeting with much anticipation.

They apparently have renovated some units that attending owners can tour throughout the day of the meeting.

Any other TUGGERS going to the meeting?

 

[harveyhaddixfan]

Egret 1986 - Did you attend the meeting? I haven't heard anything about what was discussed.

Are they doing a special assessment to cover all these renovations?

Did they mention being able to trade into the other Gold Key resorts either directly through them or having a dual affiliation with RCI & II?

 

[Egret1986]

Yes, I was there. Great, well-organized and informative day.

Egret 1986 - Did you attend the meeting? I haven't heard anything about what was discussed.

Are they doing a special assessment to cover all these renovations?

Did they mention being able to trade into the other Gold Key resorts either directly through them or having a dual affiliation with RCI & II?

Yes, there will be a Special Assessment of $1650/unit.

Owners with RCI will remain in RCI.

New units sold going forward will be affiliated with Interval.

No mention of dual affiliation. An owner asked if there would be opportunities to trade into the Virginia Beach resorts and Bruce Thompson said, "yes, that is in the works."

Chris, I sent you a PM

Too much info to share. It was a full day. For me, it was a positive day.

 

[glenmore]

$1650/unit--ouch! Did they talk about how the assessment would be billed? All at once or over some time period?

 

[harveyhaddixfan]

Here is more info from Egret1986:

http://www.timesharevacationsblog.com/category/beachwoods-a-four-season-outer-banks-resort/

 

[Egret1986]

Sorry, actually it is $1681

$1650/unit--ouch! Did they talk about how the assessment would be billed? All at once or over some time period?

It can be paid all at once or over three years with payments of $620 per year. I must say that I like what Gold Key Resorts did in Virginia Beach and I like what I saw and heard at the meeting. This will be the sixth resort special assessment that I've experienced this year. Yeah, it hurts big time. Some special assessments are better utilized than others.

The other timeshare resorts on the Outer Banks are rustic, to say the least, and "resort" is just another name to call a bunch of condos with a few amenities. I believe that this will truly be a resort. Construction and remodeling is already well underway and all units are to be completed by May 2015. All amenities except indoor water park will also be completed by May. The indoor water park should be completed by August 2015.

 

[glenmore]

Thanks Egret--for all the information. After reading it I am looking forward to the Renovations and the assessment doesn't seem quite as hefty!

Found this ad for a Beechwoods timeshare on Craigslist and it appears to show pictures of the model. Great upgrades! If the link doesn't work -- go to craigslist for Outer Banks and search for Beechwoods by gold key.

http://outer banks.craigslist.org/reo/4727663999.html

 

[Egret1986]

I think we're getting a lot of "bang" for the buck, comparatively speaking.

Thanks Egret--for all the information. After reading it I am looking forward to the Renovations and the assessment doesn't seem quite as hefty!

Found this ad for a Beechwoods timeshare on Craigslist and it appears to show pictures of the model. Great upgrades! If the link doesn't work -- go to craigslist for Outer Banks and search for Beechwoods by gold key.

http://outer banks.craigslist.org/reo/4727663999.html

Any time you've got almost $1700 coming out of your pocket, times however many weeks you own; that's a big "OUCH!". But when I saw the plans and models; I was definitely excited. I might have been apprehensive if I hadn't been witness to how Gold Key Resorts has transformed Virginia Beach with its properties and restaurants there.

Comparatively, Barrier Island Station Duck just had a special assessment this year, just under $1300. We will never see a transformation take place there. The special assessments are basically taking care of things like structural upgrades, roofing, siding, water damage, etc. If money is left over, then interiors will be worked on. They have decided to keep the same stagnant maintenance fees at their two Duck resorts. Both are tremendous properties that run from the ocean to the sound. But I don't ever see either one of these properties being able to get to Gold Crown status. They would need the influx of capital like Barrier Island Station Kitty Hawk just received for that to happen.

Don't get me wrong, I love both of the Duck resorts and own weeks at both. I was down recently and saw the renovations made at Ocean Pines to the oceanfront building where I own a couple of weeks. The exteriors and interiors had been completely redone. However, there were already issues and the renovations weren't like the ones I saw in the models at the Kitty Hawk resort. Not even close. New bar stools were ordered for the eat-at counter that don't fit. There is no possible way to sit on the stools. The seats come all the way up to the counter. Roofing shingles were already coming loose on the new roof. One of the maintenance workers indicated that that the company that did the roofing and exteriors had just filed for bankruptcy. That could have just been hearsay. However, I think those special assessments were just enough to apply band-aids to these two properties.

Although BeachWoods is not on the ocean, it's not that far away. I think all of the new on-site amenities and the upgraded units will draw folks to this resort over the ones on the ocean. This resort will be touted as a four season resort, with amenities that can support that.

I know my plans are to stay at this resort next year. It really is a beautiful wooded property, centrally located, and near the beach. It will have a true resort look and feel.

As I told another TUG member, I almost feel like I'm an unpaid cheerleader for the resort and Gold Key Resorts. It's just that I was there, and was so impressed with the presentation, models and future plans. I have seen what Gold Key Resorts has done in the past and continues to do in Virginia Beach.

 

[tschwa2]

I think that an indoor water park or even just a larger indoor recreation pool area with a single slide and small splash area for smaller children will definitely make it more of a resort of choice in OBX for the off season and shoulder season. I don't know if an updated interior is going to be enough to persuade me away from Ocean Front from May-September. Last year we stayed at a 9 unit ocean front resort (High Dunes) that had the same kind of interior that we had in the shore house that I stayed in in the late 80's/early 90's and even then it seemed a little dated. The pool is probably smaller than my neighbors above ground pool. Still I don't think that during the summer I would choose Beechwoods over an available ocean front resort.

I am glad you mentioned the completion time because I was wondering when I should start looking into exchanging in. I think it may make it onto my Easter break rotation list (currently VA Beach and HHI and Myrtle only when HHI is not available). The refurb schedule seems super ambitious and while I think some units will be done I can't see everything getting done in that time. When Massanutten built their waterpark they opened about 6 months late and Summer Bay is currently finishing up on their outdoor waterpark that was supposed to open by summer 2014.

My only complaint with Goldkey as someone that exchanges in every other year would be the paid parking (especially during off season) and the soundproofing in their high rises. Neither should be a problem in OBX.

 

[RuralEngineer]

looking to buy. Gold Key is a great manager.

 

[RuralEngineer]

Beachwood

Just bought a 3 BR. any links to pictures of the upgraded units? Also curious about pricing.

thanks,

Stephen

 

[harveyhaddixfan]

Egret1986 posted some info on her website:

http://www.timesharevacationsblog.com/2014/11/

http://www.timesharevacationsblog.com/2014/11/beachwoods-four-season-outer-banks-resort/

 

[harveyhaddixfan]

Here is a link to the November presentation at the owners meeting:

https://drive.google.com/file/d/0B62J8uDU2ODtWVpRRl9yWXFORVk/view?usp=sharing

Hope this works. The pictures are all the way at the end. This goes over the status of the resort along with all the changes and costs.

 

[RuralEngineer]

OBC

Thanks a lot! That answer almost all my questions. I love the Vision!

 

[pedro47]

Personally I hope the new Beach Woods Resorts can come back. OBX is a great beach vacation location for the east coast. I liked the new resort management vision for the future...Plus, it is a part of II.