Margaritaville Vacation Club Purchase

Hi all. I'm looking for a little input regarding a recent buy into the new Margaritaville property in St Thomas. Initially my husband and I were over the moon excited about the purchase but after spending some time here on this site, I'm wondering if we should rescend, which we have 5 days left to do. I know buying resale is usually the advice given here, but in a situation like this where the property is brand new with no current resales available, Is buying new from the developer worth it? Our deal boiled down to 200,000 annual points with VIP and presidential reserve status at Margaritaville plus 200,000 bonus points and 3 additional week certificates for $37k. We were told monthly MF were higher than the average resort ($99) and we were OK with that and the high $37k price tag considering what we thought was a great property to buy into. Unfortunately since our initial purchase I've read mostly horrible things about the Wyndham Vacation Club in general and feel we should dump it fast regardless of how great the actual property may be. Any input is much appreciated.

Skutchinski said:

Hi all. I'm looking for a little input regarding a recent buy into the new Margaritaville property in St Thomas. Initially my husband and I were over the moon excited about the purchase but after spending some time here on this site, I'm wondering if we should rescend, which we have 5 days left to do. I know buying resale is usually the advice given here, but in a situation like this where the property is brand new with no current resales available, Is buying new from the developer worth it? Our deal boiled down to 200,000 annual points with VIP and presidential reserve status at Margaritaville plus 200,000 bonus points and 3 additional week certificates for $37k. We were told monthly MF were higher than the average resort ($99) and we were OK with that and the high $37k price tag considering what we thought was a great property to buy into. Unfortunately since our initial purchase I've read mostly horrible things about the Wyndham Vacation Club in general and feel we should dump it fast regardless of how great the actual property may be. Any input is much appreciated.

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Skutchinski,

It's rare that TUGgers advocate keeping a developer purchase. Most of the time, we recommend rescinding and I think this situation applies too.

There are alot of unknowns about Margaritaville (and we've love to hear exactly what you bought) but $37K is alot to pay for a St. Thomas property.

You could buy a Marriott Frenchman's Cove Platinum Every Year week for $7K-$10K. You could buy an Elysian Beach week for free. You can rent many properties for the same as their MFs. I think $37K is alot to pay, especially when I'm not sure what you really own.

Please share more details and we are happy to assist (and welcome to TUG!).

Best,

Greg

I think the very fact that you ask this question gives you your answer.

No matter what the transaction, who you purchased from, what you read on the Internet from people you have never met -- if you have any doubts whatsoever about a $37,000 timeshare purchase, RESCIND.

That is what the rescission period if for -- to protect consumers who got "over the moon excited" and made a big decision based on emotion.

After you rescind, take your time and really research and consider whether ANY timeshare is right for you. Consider all alternatives to see if it's really the best use of that money for your family. If you decide timesharing fits your needs, then research various systems and the avenues for purchasing them.

Wyndham, incidentally, is a very good timeshare product, IMHO. Most of the negative comments you will hear about Wyndham are about their rotten-to-the-core sales operation -- and those comments are really too kind. But the resorts and ease of use of the system are quite good.

Just don't buy from the Wyndham sales weasels; they are among the sleaziest (probably #2 or #3) in a sleazy industry.

There are many unanswered questions about the Margaritaville Vacation Club (MVC), one being how many points will be required for a week’s stay at the resort. Will the 200K that you purchased even provide enough points for any reasonable length of stay? I imagine that with the bonus points they gave you, you’ll have plenty but that is only temporary. You’ll need to buy more if you want to stay at that level. If you check the Wyndham website Online Learning Center you’ll see that they are basically saying that you’ll either need to be a MVC owner or Wyndham VIP to reserve at the new resort and even with VIP Silver you can’t reserve until 6 months prior to check in. That basically says that if you want to stay at the new resort, you’ll either need to buy there or become VIP, preferably Gold or Platinum. As for resales, I’m sure there will eventually be some but I can’t imagine that happen in the near future.

Welcome to TUG!

You will be very happy after you KEEP your $37,000 in your OWN BANK ... once you get past the rescind deadline, that money is GONE FOREVER!
The Wyndham sales staff is very, VERY GOOD at getting vacation happy people's money. Bonus points, temporary VIP (yes, temporary VIP as the current levels are permanent ownership levels of 400,000, 600,000 and 1,000,000 developer brought points). That is one of their classic SALES HOOKS for you to come back and SPEND a second $37,000 (that adds up to $74,000 of your money after taxes) for something you can buy for under $1,000 (no VIP status, but you have your $74,000 earning interest - the interest which will more than cover any VIP benefit).

I own Wyndham and enjoy the vacation time at their resorts.

I used to own Wyndham. I sold. Now I own Starwood and I am considering adding a Marriott resale. I would buy a Marriott or Starwood resale in a heartbeat for 1/4 the price of this contract. Wyndham will never exceed the quality of a Marriott in my experience. The resorts and the activities offered at every Marriott or Starwood we have visited are better than Wyndham. This will be a premier Wyndham resort so it may be as nice, but historically Wyndham jacks the points needed to stay at such resorts really high. Look at National Harbor, San Francisco, NY and Hawaii for examples. This is a Margarita "branded" resort and I expect it to be very nice and to cost more than 200,000 points to stay in peak season.
Rescind, rescind, rescind. $37,000 is a lot of money. You can take a few Viking River Cruises with that and still get your timeshare.

After the 10 day honeymoon your stuck with her! Its going to cost you 37k and alimony for life! Renting will be cheaper?

OP, definitely rescind. That being said, did they provide you with a point chart? How will you know that what you bought is enough to stay in what you want?

Thanks in advance, very curious to see how they sold this without a publicized point chart.

Also, as to this:

Unfortunately since our initial purchase I've read mostly horrible things about the Wyndham Vacation Club in general and feel we should dump it fast regardless of how great the actual property may be.

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Most of these people are likely developer purchasers. Quite frankly, I purchased resale, and love my wyndham points. Its a very flexible system, with a whole bunch of resorts all over the place. I own with starwood too, but they are much more concentrated and dont have nearly the locations wyndham offers. Also, wyndham keeps adding to the system, for example SF, NY, Chicago, and now Margaritaville, their WAAM program has been great for us owners. Whereas Marriott and Starwood have remained stagnant. Also, wyndham points exchanged through RCI can be a great value for high TPU resorts.

On another issue though, there was a recent thread that posted language from wyndham about margaritaville. Some were saying the language read and the inferences to be drawn were that owners at other resorts wouldn't be able to use their points to internally exchange into Margaritaville. I am really dubious of this proposition, however, my guess at this point would be just as good as anyone elses. So there might be a slim chance that the only way to stay here is to buy here (or rent from an owner). But, I think it too premature for you stick with a $37k purchase on that chance alone. Might as well see how it plays out.

siesta said:

On another issue though, there was a recent thread that posted language from wyndham about margaritaville. Some were saying the language read and the inferences to be drawn were that owners at other resorts wouldn't be able to use their points to internally exchange into Margaritaville. I am really dubious of this proposition, however, my guess at this point would be just as good as anyone elses.

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I believe the thread you're referring to stated that the ARP period for Margaritaville was 10 months for VIP Platinum, 8 months for VIP Gold, and 6 months for VIP Silver. There was no "open season" defined, so some surmised that it might never open to non-VIP. Another interpretation is that it would become available to all points owners at the express reservation window (90 days) but availability would be unlikely at that point except in the lowest seasons.

Bigrob said:

I believe the thread you're referring to stated that the ARP period for Margaritaville was 10 months for VIP Platinum, 8 months for VIP Gold, and 6 months for VIP Silver. There was no "open season" defined, so some surmised that it might never open to non-VIP. Another interpretation is that it would become available to all points owners at the express reservation window (90 days) but availability would be unlikely at that point except in the lowest seasons.

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yes, my opinion of that was that there would be different pools of inventory, similar to how presidential reserve works. So particular units would be set aside in that manner particularly for owners, 10 mos, 8 mos, 6 mos, for vip respectively, and then a separate pool of "regular" inventory.

Only time will tell.

I hope the OP comes back and gives us a points chart.

siesta said:

yes, my opinion of that was that there would be different pools of inventory, similar to how presidential reserve works. So particular units would be set aside in that manner particularly for owners, 10 mos, 8 mos, 6 mos, for vip respectively, and then a separate pool of "regular" inventory.

Only time will tell.

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I believe you are correct, as wording at the bottom of the VIP benefits states:

"At the standard reservation window, a minimum of 50% of Margaritaville Vacation Club resort inventory will be held exclusively for VIP members. VIP members can access this inventory at different timelines based upon their VIP tier."

This would seem to suggest that the other <= 50% would be available to all members in the standard reservation window.

Where can I read more about Margaritaville in St.T? Where did the original poster buy M'ville? (I never go to "updates")....

I am really skeptical about that property & have been since I heard Wyndham took it over -- what a moneypit!!! -- it was a Renaissance resort and sat empty for over 10 years, maybe 15 -- we were staying in St.T about 9 years ago & that place was closed/abandoned/overgrown then! I cannot imagine how it could possibly be renovated -- it must have been full of mold &/or bird poop -- you know AC was "not on" the whole time it was abandoned -- cannot imagine WHY Wyndham ever bought it -- Franz must love St.T!!!

Skutchinski said:

Hi all. ... I'm wondering if we should rescend, which we have 5 days left to do. ... Our deal boiled down to 200,000 annual points with VIP and presidential reserve status at Margaritaville plus 200,000 bonus points and 3 additional week certificates for $37k. ... Unfortunately since our initial purchase I've read mostly horrible things about the Wyndham Vacation Club in general and feel we should dump it fast regardless of how great the actual property may be. Any input is much appreciated.

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If you ever come back to check this thread...

Your VIP status is almost assuredly temporary for the time that your bonus points are valid. After that time passes (usually 1-2 years), you will be a "regular" owner. The PR is thrown in to "give you a little taste" so you know what you are missing out on once your access to those units expires.

I'm not sure where you are hearing "the horrible things" about Wyndham Vacation Ownership (there is no Vacation Club per se... The Marriott Destinations Club on the other hand has been getting very bad press from Marriott fixed week owners). Wyndham might not have the amenities of a Marriott or Starwood, but you can get 80% of the luxury for 60% of the cost, and 10-20% of the purchase price.

It's been 2 weeks since your post, so if you have not rescinded by now, it's too late. Use your TS to the best of your ability. If you have rescinded, stick around, you'll discover the beauty of resale.

Cheers!

Bigrob said:

I believe you are correct, as wording at the bottom of the VIP benefits states:

"At the standard reservation window, a minimum of 50% of Margaritaville Vacation Club resort inventory will be held exclusively for VIP members. VIP members can access this inventory at different timelines based upon their VIP tier."

This would seem to suggest that the other <= 50% would be available to all members in the standard reservation window.

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According to the new directory, it will be exclusively available to Margaritaville Vacation Club owners and Club Wyndham Plus VIP owners. Only studios and studio deluxe units, 154K-189K per week for prime periods.

scootr5 said:

According to the new directory, it will be exclusively available to Margaritaville Vacation Club owners and Club Wyndham Plus VIP owners. Only studios and studio deluxe units, 154K-189K per week for prime periods.

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Hi Scott,

I'm curious - what timeshare properties/locations are part of the Margaritaville Vacation Club?

Is the Margaritaville Vacation Hotel currently being built in Hollywood, Florida
- (I think Jimmy Buffet is associated with it) - part of the Magaritaville Vacation Club?

Thanks


Richard

AFAIK, so far it's only the one under construction in St. Thomas

Richard, Margaritaville Biloxi was suppose to be one of the M'ville Resorts but it went under before the hotel/ timeshares were ever built.


In December 2013, Doug Shipley, President & CEO, announced Margaritaville Biloxi will break ground on a new hotel facility in the spring with anticipated completion a year later. The new hotel would feature 250 rooms, including 170 deluxe guest rooms and 80 two- and three-bedroom suites. In addition, they would become one of the first resort properties to offer time-share units through a major international partner.

In July 2014, the casino announced that it would likely close by September, because of an unresolved dispute with the landlord that was blocking the financing needed to build the hotel.[12] On September 15, 2014, Margaritaville Biloxi officially closed.

Ride,

Thanks for the update.


Richard