Any date for Royal Mayan payout?

Does anyone have any guestimates as to when the residuals, or lack thereof, will be disbursed?

I thought I saw end of March somewhere..?..

Also, any guesses as to the %?

Mid-April was the last timeline I read. I think the % is still not exact. I think they are looking at 50% at present.

I know that doesn't make a lot of folks happy, but any money back on a timeshare is a win. And I used it every year.

New email from Royals today gives 3rd week of May for payouts.

For the accountants out there, so what is the time value of that amount of cash over a 30 day period?

Mayan Payout

I don't own at the Mayan, but do own at the Islander. I would like to know how they are calculating the pay out percent. I have seen references to 50% but 50% of what number? As I will be dealing with the same issue down the road would like to be prepared. So any info on this will be much appreciated.
Thanks,

payout calculations

mrpoco said:

I don't own at the Mayan, but do own at the Islander. I would like to know how they are calculating the pay out percent. I have seen references to 50% but 50% of what number? As I will be dealing with the same issue down the road would like to be prepared. So any info on this will be much appreciated.
Thanks,

Click to expand...

The 50% and other %s are estimates that Mayan owners will end up with about half of their original purchase price (or the original purchase price of the given interval), AKA the Residual.

How is the actual payout calculated? According to the contracts for the Mayan and Caribbean, for each villa owned, each member gets an proportional share (depending on the original purchase price of the interval) of the Mayan's selling price minus taxes, fees, commissions, and so forth, up to his/her original purchase price. Since we don't know the taxes, fees, commissions, etc. we don't know the actual payout.


HOWEVER, starting with the Islander they changed it, it's not based on the original purchase price. Start with the actual sales price (to highest bidder) and then subtract the taxes, fees, commissions, etc. Then the remaining proceeds are to be divvied up equally for each villa/week, regardless of the original purchase price of said villa/week.

pjrose said:

How is the actual payout calculated? According to the contracts for the Mayan and Caribbean, for each villa owned, each member gets an equal share of the selling price minus taxes, fees, commissions, and so forth. Since we don't know the taxes, fees, commissions, etc. we don't know the actual payout.

Click to expand...

Your statement is incorrect, the Mayan and Caribbean owners do not get an equal share of the selling price, residual returned to owner is based on original purchase price of unit, and is stated in the contract. Of course the Mayan wasn't sold for enough for full residual payments, hence the percentage that has been speculated on.

urban5 said:

Your statement is incorrect, the Mayan and Caribbean owners do not get an equal share of the selling price, residual returned to owner is based on original purchase price of unit, and is stated in the contract. Of course the Mayan wasn't sold for enough for full residual payments, hence the percentage that has been speculated on.

Click to expand...

Of course you are correct; I was sloppy in my typing/editing.

I had stated in the previous paragraph that "The 50% and other %s are estimates that Mayan owners will end up with about half of their original purchase price (or the original purchase price of the given interval), AKA the Residual."

Then I intended to go on with the Islander not being based on the residual, b/c mrpoco was interested in the Islander. However I didn't edit properly, for which I apologize I have since edited my post.

Royal Islander

So if I understand you correctly. The Islander owner's are to receive a equal share regardless of what unit or week they own? My unit is beach front and has more value and was way more expensive than lets say a 4th floor pool view unit was.

From the Membership Agreement AKA Contract

mrpoco said:

So if I understand you correctly. The Islander owner's are to receive a equal share regardless of what unit or week they own? My unit is beach front and has more value and was way more expensive than lets say a 4th floor pool view unit was.

Click to expand...

Yes. It's in the Membership Agreement we signed when we bought the intervals, on page 4:

FIFTH: ...upon expiration of said agreement on July 15, 2023, the Club will be sold for the best price obtainable and after first deducting taxes, commissions, and other appropriate charges and expenses derived of such sale, any sales proceeds remaining will be distributed among the beneficiaries of Vacation Intervals, corresponding to one equal share for each Vacation Interval into which the Club is divided.
Upon termination of this Membership Agreement on July 15, 2023, the Membership Company shall transfer to the Member this residual right granted by Isleño [the corporation which owns the lot on which the RI is built], corresponding to one equal share for each Vacation Interval into which the Club is divided."

FYI.........RM is now called EMPORIO

Some people on the rrowners site have said they have received letters giving them a buyout price on their weeks. It was about 60% of the residual.

This is what was posted from
the letter.

Sales Price: $40,200,000.00
Severance payments & Union Agreement Termination: -772,850.72
Broker sales commissions: -781,500.00
Taxes: 0.00
--------------------------------------------------------
Club Cash reserve: 430,439.93
Hurricane fund: 1,779,391.79
------------------------------------------------------------

Total amount to be distributed as Residual Rights: $40,855,481.00

The number of members in good standing on February 24, 2014 who are entitled to receive this residual rights payment is 8,678.

Received my letter today for Royal Mayan week 4 F building. Residual value of $7,500, payment of $4,526.53, which is 60.35% of contractual residual value. I paid $6,700 pre-construction price, so after 29 years of wonderful times spent at the Mayan and exchanges around the world I am satisfied I got my moneys worth. Would I have liked to receive the full amount, of course, but how many other venues could you use something for 30 years and get back 60% of what you paid.

Doing the math on the total amount to be distributed the 8,678 members in good standing had a contracted residual value of $67,697,566 of which the $40,885,481 total remaining after the sale calculates to 60.35% of the contracted residual value.

urban5 said:

......after 29 years of wonderful times spent at the Mayan and exchanges around the world I am satisfied I got my moneys worth. .... how many other venues could you use something for 30 years and get back 60% of what you paid......

Click to expand...

Exactly. Does anyone know of any other timeshares where you get back anything at the end of the term?

mayan residual

We got our letter two days ago on our amount of residual to be paid the third week of May. We got a call today from a representative wanting us to buy into 10 more years using our residual and details of what it entailed. Did anyone else get this and what's your choice......we are opting for our payout and not signing up for anything new.

rynker said:

We got our letter two days ago on our amount of residual to be paid the third week of May. We got a call today from a representative wanting us to buy into 10 more years using our residual and details of what it entailed. Did anyone else get this and what's your choice......we are opting for our payout and not signing up for anything new.

Click to expand...

Ten more years of what? Emporio? The royal Cancun? Sands?

They told me they were offering a "Heritage Membership" to the Mayan owners. We could purchase 20 weeks and had to use them in 10 years. Or, you could purchase 10 weeks. They would apply my residual and I'd pay the balance of $10,000. No maintenance fee due until you use a unit(any of the Royals and no black out times). Then they said they would take my maintenance fee and put it in an account for me to use on airfare or other things to do with travel. In other words, he said that we'd be getting our full weekly maintenance fee back each time. Sounds too good to be true for me, so we're taking the residual.

Heritage Privileges

I, too, received a call from the Royal Resorts offering a membership in their Heritage Privileges program, which I was told offers Royal Mayan owners a way to remain in the Royal family.

I asked a lot of questions, and as far as I can tell, here's how it works:

The membership cost for 10 years is normally $9,999, but as a Royal Mayan member the cost to me would be $6,999, and I could apply my residual check to reduce the cost even further.

I would receive 20 certificates--10 for an A side unit, and 10 for a B side lock-off. Each is good for a week at any of the Royals EXCEPT the Royal Haciendas. These certificates are good for 10 years and can be combined, so if I want the full 2-bedroom villa, I could use 1 A-side certificate and 1 B-side.

I can make reservations through www.heritageprivileges.com (the website is powered by Lifestyle Collection) or by phone. The fees associated with making a reservation are as follows:

When reserving the B side: $360
When reserving the A side: $670
To reserve A & B together: $1030

I also confirmed that the all-inclusive would be optional. The real question in my mind is how will the cost and availability of online rentals/exchanges be affected by the closing of the Mayan. At this point, we are planning to take our residual check and hope that we will be able to exchange or rent as usual.

ruthlang said:

The membership cost for 10 years is normally $9,999, but as a Royal Mayan member the cost to me would be $6,999, and I could apply my residual check to reduce the cost even further.

I would receive 20 certificates--10 for an A side unit, and 10 for a B side lock-off. Each is good for a week at any of the Royals EXCEPT the Royal Haciendas. These certificates are good for 10 years and can be combined, so if I want the full 2-bedroom villa, I could use 1 A-side certificate and 1 B-side.

When reserving the B side: $360
When reserving the A side: $670
To reserve A & B together: $1030

Click to expand...

Doing the math for a full villa for 10 years: $7,000 buy in plus $10,300 yearly fee = $17,300 divided by 10 years = a yearly rental fee of $1,730. Plus there is probably no guarantee of the week or unit you may want or that the fees don't change. Looks like another poorly thought out option.

We had the same offer as ruthlang.

The Heritage program might be more tempting if it was simply prepaying for the certificates without the added $7000. 20 certificates over 15 years for $10300 wouldn't be bad...

Anybody receive payment yet?

My dad said he was suppose to get his payment in April and nothing arrived. I told him about this blog and mentioned that someone received a notice that the payment was suppose to be in May. It's sad that my dad could not get an update. (He's 84 years old). But he keeps on getting phone messages from someone from the Royal Resorts wanting him to know his "rights". Why don't they send him a letter about his "rigts"? Why does it have to be a phone call? As of today, May 26, has anybody received their payments?

Quite a few people have received their payments, while some of us have not. The Royals are requiring a signed statement plus a copy of photos IDS be sent before checks are mailed out. Signed statement paperwork was sent out certified mail, but you can call 888-870-4866 and have them email you the documents to fill out and either mail, fax or email back if you haven't received certified letter yet. Then it appears it is about two weeks before check is received.

I just found timeshare thread, glad I did as I am also waiting for my residual check from Royal Mayan sale.

Urban5....is that indeed a fact that certified letters were sent prior?
I received ONLY letter stating checks being processed 3rd week in May.
I even tried calling the number you provided...disconnected..

If anyone out there did receive their check, please tell me if you indeed received a certified letter prior, sent in copy of ID, then $$ sent to you.

Thanks...just waiting patiently
On the go 9999

Go to royalresortowners.ning.com. There have been quite a few discussions on this topic.

Thanks Ilene 13,

I saw that website you suggested...Yep, a bunch of us waiting patiently

Onthego9999