What is Club Wyndham Access Really Worth?

Sarge2 · May 16, 2014

Hello All! Been a TUGGER now for a while now, but this is my first post. Here’s the deal: I am in need of some genuine help and information as to what you think would be the right thing to do. Over the years upgraded through Wyndham and now have had Club Access 1 million points for several years. (This was before I knew TUG existed) Swear I could be Wyndham’s poster child as we have spent over $168,000 through the years and it continues to suck me dry with the maintenance fees! Are there any exit strategies besides Pathways out there that are legit? Since I dropped this massive amount of cash really wondering what it is worth on today’s market (They said $220,000).

On my recent trip to Daytona and Bonnet Creek I was lied to and it really spoiled the trip. I was told Pathways was going up to 20 years at the end of March and then told No at Bonnet Creek, but said, “You have no other options.” “You have to join Pathways.” (For $21,000 and 105,000 points of which couldn’t be cashed in on Pathways for 5 years plus maintenance fees with really no program guarantee (up to 20% payback). You do the math. Needless to say I rescinded and dodged the Bullet. Thank you.

Due to a recent life changing event of which I didn’t see coming (divorce), I must now seriously consider my next strategic move. Optimally, I wish to sell and try and recoup some of the cash outlay. All comments and private messages welcome. Thanks so much TUG.

vacationhopeful · May 16, 2014

Sorry, Sarge2, re-selling Wyndham does not make for a pretty bank account. I know someone who brought 1MM resale points for a total of $1,000 (One thousand in total costs - including the settlement & transfer costs).

OPTION 1: There is at least one company - not associated with Corp Wyndham - which will manage your VIP Platinum account by renting out your points. I am sure "they" will PM you the details.

OPTION 2: Make a new best buddy and let them make you a "private" deal to take over your membership.

CWA will sell for 1-5% of WHAT you brought it for ($168K). It is the Platinum level which DOES NOT TRANSFER on resale to a NEW OWNER which might add another 3-4% MAXIMUM.

My best guess .... and it is worth what you paid for.

I would try OPTION 1 --- your life might be far better in 3-5 years. And that would be a quick solution to get cash NOW to cover the MFs.

I hope there was no loan taken out when you brought these points.

Sarge2 · May 16, 2014

Hi and thanks for your suggestions. No loan- bought and paid for. Just trying to sort things out and deciding what the next step will be.

ronparise · May 16, 2014

If Wyndham honors the pathways promise You would pay them about $20000 now for 105000 new points and they would buy back everything you have for 20% of what you paid for the whole works ($168000 + $20000) x,2 = $37600. As you point out you its not a sure thing, and you have to pay mf of like $6000 a year for the 5 years ($30000)

During the holding period you could employ one of the points managers to cover your maintenance fees.

or you could do as Linda suggests and forget the pathways program and go straight to one of the points managers.

Sooner or later you will want to sell out. I think a million CWA points is worth something like $5000 maybe a little more.

Whatever you do the $168000 is gone

Bigrob · May 16, 2014

Sarge2 said:
Hello All! Been a TUGGER now for a while now, but this is my first post. Here’s the deal: I am in need of some genuine help and information as to what you think would be the right thing to do. Over the years upgraded through Wyndham and now have had Club Access 1 million points for several years. (This was before I knew TUG existed) Swear I could be Wyndham’s poster child as we have spent over $168,000 through the years and it continues to suck me dry with the maintenance fees! Are there any exit strategies besides Pathways out there that are legit? Since I dropped this massive amount of cash really wondering what it is worth on today’s market (They said $220,000).

On my recent trip to Daytona and Bonnet Creek I was lied to and it really spoiled the trip. I was told Pathways was going up to 20 years at the end of March and then told No at Bonnet Creek, but said, “You have no other options.” “You have to join Pathways.” (For $21,000 and 105,000 points of which couldn’t be cashed in on Pathways for 5 years plus maintenance fees with really no program guarantee (up to 20% payback). You do the math. Needless to say I rescinded and dodged the Bullet. Thank you.

Due to a recent life changing event of which I didn’t see coming (divorce), I must now seriously consider my next strategic move. Optimally, I wish to sell and try and recoup some of the cash outlay. All comments and private messages welcome. Thanks so much TUG.

Hi, there are exit strategies that are legit. I agree with Linda on the top choices, and in situations where you're not sure, getting a rental management company to help can at least cover your MFs while you sort things out. Part of the current value of your investment is in the Platinum VIP benefits which will not transfer upon resale, so it's worth more in your name than someone else's.

Regarding Wyndham's assessment of the "worth" of your current holdings - you should have clapped delightedly when they said that and said, "Sold! Thanks so much for the offer!" I do think the "rack rate" is something along the lines of $235 or $245/K point now for CWA. But pricing on eBay is still south of a penny a point for CWA. It wasn't that long ago that I was paid to take a 212K CWA contract.

CWA is a pretty good holding since it gives you ARP to just about everything and mitigates the risk against special assessments. In terms of value within the Wyndham portfolio, the most valuable are the ones with the lowest MF's (Canterbury, Bali Hai, Steamboat, South Shore, National Harbor), followed closely by Bonnet Creek and CWA. A 1.5M CWA contract recently was listed but not sold for $8K (I think in part because they were also collecting $2100 in MF's and $800 for closing). You can check completed listings on "Wyndham Club Access" and "Wyndham CWA" to see recent pricing.

Good luck.

lcml11 · May 17, 2014

Sarge2 said:
Hello All! Been a TUGGER now for a while now, but this is my first post. Here’s the deal: I am in need of some genuine help and information as to what you think would be the right thing to do. Over the years upgraded through Wyndham and now have had Club Access 1 million points for several years. (This was before I knew TUG existed) Swear I could be Wyndham’s poster child as we have spent over $168,000 through the years and it continues to suck me dry with the maintenance fees! Are there any exit strategies besides Pathways out there that are legit? Since I dropped this massive amount of cash really wondering what it is worth on today’s market (They said $220,000).

On my recent trip to Daytona and Bonnet Creek I was lied to and it really spoiled the trip. I was told Pathways was going up to 20 years at the end of March and then told No at Bonnet Creek, but said, “You have no other options.” “You have to join Pathways.” (For $21,000 and 105,000 points of which couldn’t be cashed in on Pathways for 5 years plus maintenance fees with really no program guarantee (up to 20% payback). You do the math. Needless to say I rescinded and dodged the Bullet. Thank you.

Due to a recent life changing event of which I didn’t see coming (divorce), I must now seriously consider my next strategic move. Optimally, I wish to sell and try and recoup some of the cash outlay. All comments and private messages welcome. Thanks so much TUG.

http://brokers.mls.redweek.com/

Do not know anything about how effective this group is but found it looking for something else in a PR Wire story on them. It appears the article was from earlier this year.

If others have experience with this MLS Service, maybe they can share how good they are.

"RedWeek.com Launches Timeshare MLS Leading timeshare marketplace RedWeek.com announces the launch of its new timeshare multiple-listing service (MLS) website. The RedWeek MLS offers licensed timeshare brokers and agents confirmed inventory, private broker-to-broker communication, sharing of commission details, advanced inventory management APIs, and access to a large and growing repository of resort information.
•

Seattle, WA (PRWEB) January 08, 2014"

vacationhopeful · May 17, 2014

[Personal comments directed at another poster, and unhelpful to the original poster, removed]

Redweek.com is a site most of the prior posters are (I am) already members of. Yes, they offer a "broker based service" in addition to a "self" managed FOR RENT and FOR SALE of timeshare weeks & properties. Has been around for 25+ years.

OP wanted to understand the WORTH and possible RECOUPing his $168K cost of this 1MM points (+/-) of CWA ownership holding. He did state he has been around TUG for years (and his sign up date confirms such).

[Further personal comments removed.]

pacodemountainside · May 17, 2014

Have your divorce attorney slip into divorce decree/settlement that she gets.:whoopie:

VIP status should pass!

Since MF are around $6K getting rid of today at no cost is an option!

$220K is rack rate virtually no one pays. Based on recent sales pitches would imagine around $175K would buy it!

Pathways is a crap shoot at best!

Sarge2 · May 17, 2014

Hey Bigrob - Thanks for your insight. I did not realized that the VIP Platinum benefits do not transfer. That adds more salt to the wounds. Onward and Upward as they say!

What is Club Wyndham Access Really Worth?

Sarge2

vacationhopeful

TUG Review Crew: Rookie

Sarge2

ronparise

Bigrob

lcml11

vacationhopeful

TUG Review Crew: Rookie

pacodemountainside

Sarge2