# Status of Riviera Oaks Resort



## Zephyr88 (Nov 29, 2013)

DRI recently acquired the Riviera Oaks Resort in San Diego county as part of the Monarch Grand Vacation Resorts acquisition.  Has anyone heard what they have planned for the resort?  Will they keep it?  Have they taken over the board?  Any plans to raise maintenance fees or levy a special assessment?  Anyone have any information about what's going on with the resort??


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## acereichert (Jan 18, 2014)

They raised the MF's on my annual two bedroom by $53.23 in 2013.
In 2014 they have raised another $163.95. They justified this last raise by saying they were removing rental income from the balance sheet, thereby raising the MF's needed from owners. This ploy was never revealed until I received my annual fees notice. It's obvious they now control the HOA.

The resort under DRI is a shadow of what it was under Monarch. It seems more like a motel.


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## csalter2 (Jan 18, 2014)

acereichert said:


> They raised the MF's on my annual two bedroom by $53.23 in 2013.
> In 2014 they have raised another $163.95. They justified this last raise by saying they were removing rental income from the balance sheet, thereby raising the MF's needed from owners. This ploy was never revealed until I received my annual fees notice. It's obvious they now control the HOA.
> 
> The resort under DRI is a shadow of what it was under Monarch. It seems more like a motel.



I don't recall that resort being in great shape before DRI took over. I am sure they will refurbish the units as they are in need of it  from things I have read.


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## Zephyr88 (Jan 18, 2014)

acereichert said:


> They raised the MF's on my annual two bedroom by $53.23 in 2013.
> In 2014 they have raised another $163.95. They justified this last raise by saying they were removing rental income from the balance sheet, thereby raising the MF's needed from owners. This ploy was never revealed until I received my annual fees notice. It's obvious they now control the HOA.
> 
> The resort under DRI is a shadow of what it was under Monarch. It seems more like a motel.



Yes, there was a 20% increase in maintenance fees for 2014.  And, yes, the Board is now controlled by DRI.  The DRI Board eliminated the rental revenue subsidy, as they believe (in their infinite wisdom) that the resort needs to operate based solely on fees paid by its owners.  

Annual meetings are no longer held at the resort, but at DRI headquarters in Las Vegas.  

The Board also approved $758,000 expenditures for replacing sofa sleepers, bedding, draperies, large appliances, toilets, carpeting, upgrading flat panel televisions, new pool furniture, complimentary Wi-Fi, HVAC unit replacements, and tennis court resurfacing.  

And of course, DRI is also now the Management Company for the resort, and takes its cut of 20% off the top of all maintenance fees.


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## Rent_Share (Jan 18, 2014)

Isn't rental income due to the HOA, not something to be skimmed from the top by the hired help (the management company), which is what DRI really bought, the management contract


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## Zephyr88 (Jan 27, 2014)

Rent_Share said:


> Isn't rental income due to the HOA, not something to be skimmed from the top by the hired help (the management company), which is what DRI really bought, the management contract



Actually, the revenue subsidy came from rental fees previously paid by guests which are now complimentary.  Things like WiFi, fire logs for the fireplace, bicycle and movie checkouts.  The owners now pick up those costs.

But you're right, DRI _defintely_ makes a nice profit by designating itself the Management Company and not putting out for bid.  Because they control the Board, they can get away with it.:annoyed:


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