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Wyndham update----Nice salsmen-----Presidential Reserve program

Discussion in 'Wyndham Resorts' started by doublebubbls, Jul 1, 2008.

  1. doublebubbls

    doublebubbls TUG Member

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    Wyndham owners update at Governors Green.
    We just came back from Williamsburg this weekend.
    Yes, we went to the owners update. $60.00
    And believe it or not we had two very nice salesmen.
    And I mean nice. The first said he as been with the company about 8 years and he was still nice,
    And to top it all off when they brought in the second wave of sales personal HE was nice too!!!!
    I about fell out of my chair.
    We talked about our kids, his kids and our travel.
    He went through some very helpful ways for us to upgrade to Presidential Reserve. Of course trying to sell the program.
    The second salesman was even more helpful with explaining on how to get to that program. Still to much for us to pay right now.
    They both said think about, handed us the info and said thanks for coming let us know if you are interested. No presure at all. We where very happy.

    We are VIP and due enjoy the perks but the two things I wanted to see if anyone else has heard is.
    #1) Presidential Reserve.
    Both salesman said that there will only be 1200 members total and that it WILL have ROFR and is in the contract? Anybody else heard this or any other info on the Presidential Reserve program??
    #2) Again they both said that there has been talk in the Wyndham family that the company is looking at buying back contracts on the resale market which will increase resale price's and this will help to increase the sale of new contracts??
    Does that add up to anybody??
    I can see how it would work but what would they do with the contracts that they buy back??
    Just seeing if anyone else has head this.
    TKS
     
  2. acesneights

    acesneights TUG Member

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    1200 Members until they have 1200 members then they will say only 2400 members.... If a sales ploy works they will never stop using it.

    What good is ROFR if you only get a penny a point offer, they will match the penny?

    Buyback? There are probably 25 billion points that they could buyback for 2 cents a point.

    How many billion points have sold for a penny that everyone would be happy to sell back for double?

    Stan
     
  3. lprstn

    lprstn TUG Review Crew: Veteran TUG Member

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    I see no validity in what they are saying...why?

    - Why should they buy back? most people purchase from them...
    - It would take them quite awhile to turn the market around...there is just too much supply vs demand...

    Lastly....

    Why should you care? Are you getting the usage out of what you have now? Are you going everywhere you want to go? Are you paying quite enough "Thank You" in MFs that you don't really need to add more points or properties to your portfolio...just to be in the "Presidential Club?".

    I think I could kick myself for paying extra $20K just to be called "VIP"...it made me feel like a big shot for awhile...until I kick myself for paying the $20K for it.. just something to think about...
     
  4. Jya-Ning

    Jya-Ning TUG Member

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    I heard they are step back on their sale effort. Will see if it hold.

    Currently, there is a lot of talk about hold on that program. It is tied to deed. And you have to own 1 M develope points at a POA that hold only president suits. Currently, there is only 1 resort has it. And if 1200, that means that resort has probably 30 president units. If they hold it, yes, there will be only 1,200 member. And that means, it will be very costly to maintain any function. To say the least, I believe a few owners will like to see how the FSP membership due is spent on each level. So they either has to push it forward, or fold it all together. Suggest you wait a few years. Plus, if you are VIP member, that means you will need to buy 700k more points from them. Very unlikely it worths. Better wait a few years.

    They also has ROFR on some of their new resorts, one of them I believe is Grand Desert, and I don't believe I read it being used.

    On the other hand, one of their developers that exercise ROFR on resorts that does not have ROFR. We will see what happen after a few years. At this moment, does not seems it affects the value.

    One of the rumor is the president club can be transfer through resale. If they do that, they may have all kind of issues need to think through first. And if that is true, you really should wait, chances are, you will pay resale price and get in that club. And it maybe still a great saving there.

    Jya-Ning
     

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