Vacation Resorts International -- What do you know about them?

Vee Dee Ess, Shmee Dee Ess.

basham said:

Vacation Resorts International Development and Sales (VDS).

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Shux, I would have expected that to be more like VRIDS than just VDS.

Who'd a-thunk ?

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

VRI sometimes equates to very real increases. Of the 3 VRI resorts I stayed at, 2 were just OK and the third was in the beginning of a very badly needed refurbishment.
It has seemed to me that when VRI takes over the management of the resort, they make improvements - but real increases in fees go along with it - or special assessments.

V. R. I. Works For The H. O. A. - B. O. D., Right ?

tonyg said:

VRI sometimes equates to very real increases. Of the 3 VRI resorts I stayed at, 2 were just OK and the third was in the beginning of a very badly needed refurbishment.
It has seemed to me that when VRI takes over the management of the resort, they make improvements - but real increases in fees go along with it - or special assessments.

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If VRI management is by contract with the timeshare HOA-BOD, then VRI can recommend budget-busting improvements but only the HOA-BOD can decide whether to to adopt those recommendations.

If the HOA-BOD decides to go with expensive upgrades, renovations, improvements, etc., recommended by VRI, then the HOA-BOD also has to decide how to pay for'm -- e.g., by special assessments, dipping into reserve funds, or both.

Being on the hotseat like that is how come those HOA-BOD members get the big bux.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

Ypu don't get new management to keep things the same

tonyg said:

VRI sometimes equates to very real increases. Of the 3 VRI resorts I stayed at, 2 were just OK and the third was in the beginning of a very badly needed refurbishment.
It has seemed to me that when VRI takes over the management of the resort, they make improvements - but real increases in fees go along with it - or special assessments.

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Often when VRI (or SPM or any truly independent management - even self management) steps in to operation of a "just OK" or "badly needed (refurbishment)" resort that means the previous management - more times than not the developer - has neglected the needs of the resort and most likely under funded reserves. So it makes sense that if a chhange is made to improve things they will most likely recommend renovation/upgrades and then have to find money to pay for that work. The cause isn't the management change but poor planning in the past and a desire to improve things in the future. The effect is that the "new guys" raise fees but it really is only what should have been collected in the past. There is no free ride.