# VRI buying ORE



## Bill4728 (May 19, 2006)

Saw this on streettalkblog.com 

VRI is going to be buying ORE. 


> VRI TO PURCHASE ORE
> Filed under: WEST COAST — street @ 2:58 pm
> Week of May 12- 18
> 
> ...



Sorry  no more info yet.


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## Malibu Sky (May 19, 2006)

My ORE managed Park City timeshare has been in a dispute with ORE, maybe VRI can bail them out!


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## "Roger" (May 19, 2006)

While VRI does not have its own internal exchange system (at least, not yet -- at the rate it is growing, one wonders for how long), VRI owners get priority when trying to trade to other VRI resorts when they exchange through RCI.  

I really think that we need to advise people to consider buying into a resort that is part of a mini-system and one that they would like to do most of their trading within.  People scream about not having full access to Points, but the market is segmenting in many different ways... just as much within II as within RCI.  Yes, you can trade from VRI into Bluegreen, or, from Sunterra into Hyatt, but you will be butting against others who have priority over you.

As Bob Dylan used to say, "You don't need to be a weatherman to know what direction the wind is blowing."  

JMHO


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## T_R_Oglodyte (May 19, 2006)

Roger said:
			
		

> While VRI does not have its own internal exchange system (at least, not yet -- at the rate it is growing, one wonders for how long), VRI owners get priority when trying to trade to other VRI resorts when they exchange through RCI.
> 
> I really think that we need to advise people to consider buying into a resort that is part of a mini-system and one that they would like to do most of their trading within.  People scream about not having full access to Points, but the market is segmenting in many different ways... just as much within II as within RCI.  Yes, you can trade from VRI into Bluegreen, or, from Sunterra into Hyatt, but you will be butting against others who have priority over you.
> 
> ...


VRI formerly operated its own internal exchange system.  The current VRI perferences within RCI (reduced RCI membership dues, reduced fees on exchanges among VRI-managed properties, and internal trade preference among VRI resorts) was established when VRI outsourced the exchange program to RCI.


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## spiceycat (May 19, 2006)

my VRI trader gets better results with II....


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## Cayuga (May 19, 2006)

So, as an owner at an ORE connected resort, what kind of news is this - good, bad, or indifferent? I don't have enough insight to make a judgement. Please advise.


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## Dani (May 20, 2006)

This is great news for both VRI and ORE owners.  If ORE units become VRI managed, they should trade internally within RCI and have a VRI preference and all of the benefits that Steve listed above.  It's great for current VRI owners if ORE resorts, much like VI resorts last year, become part of the VRI group for which VRI owners receive a preference to trade back into.


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## Kozman (May 20, 2006)

BTW, ORE stands for Owners' Resorts and Exchange.  I hate it when acronyms are used and not explained.


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## rickandcindy23 (May 20, 2006)

Where will the opportunities be for resorts that want to be a part of ORE, when this deal becomes final.  I was hoping that one of our timeshares would become an ORE resort in a few years.


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## SBK (May 20, 2006)

Kozman said:
			
		

> BTW, ORE stands for Owners' Resorts and Exchange.  I hate it when acronyms are used and not explained.



But what is VRI?

Thanks


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## timeos2 (May 20, 2006)

SBK said:
			
		

> But what is VRI?
> 
> Thanks



Vacation Resorts International. A professional resort management firm with over 100 resorts.


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## T_R_Oglodyte (May 20, 2006)

Dani said:
			
		

> This is great news for both VRI and ORE owners.  If ORE units become VRI managed, they should trade internally within RCI and have a VRI preference and all of the benefits that Steve listed above.  It's great for current VRI owners if ORE resorts, much like VI resorts last year, become part of the VRI group for which VRI owners receive a preference to trade back into.


There is one additional great benefit I didn't mention - VRI's VacationTyme program.

If you are a vRI owner, you can rent space on a nightly basis (space available) within 15 days of check-in at great rates.  Often you can stay in one-bedroom timeshare condo for less than the cost of a room at a hotel such as a Sheraton or Marriott (and I'm talking about discount rates at these hotels, not the rack rates).


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## ausman (May 20, 2006)

ORE/MROP has/had an attractive Bonus Time program, looking around the VRI site I don't see an equivalent only rental rate charts.


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## chemteach (May 20, 2006)

As an ORE owner of MROP (Multi Resort Ownership Program) weeks, I am hoping they will still have the ORE internal exchange program.  That's a very nice feature of ORE.  It would be nice to get some insight to how this will impact that program.

Edye

editted to add:

Also, ORE has an annual scheduling process that coincides with MROP.  It will be interesting to see how that works out.


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## ausman (May 20, 2006)

It would be great to see a news release on this.

Would be even better if ORE would communicate to owners as to how it will work.

I think the best scenario for ORE/MROP owners would be to have it function as it does now but for deposits into RCI be subject to the VRI preference. That gives VRI owners access at ORE/MROP resorts and vice versa.

Will be interesting to see how this shakes out. It does seem a good fit East Coast-West Coast, although both have prescences on each side, creation of a major mini system. Perhaps VRI will use the new ORE exchange software and withdraw from RCI . Give each system a 30 day preference in each other and then open it up, whatever happens it should be good for most of us.


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## ausman (May 27, 2006)

I thought long and hard about bringing this up again, but it has been a week since the initial report, which was some time prior.

I have seen no further news reports on this. Has anybody else?, at this point I'm inclined to classify it as a rumour that may or may not turn out to be true in the future.


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## Jolson (Jun 15, 2006)

Hello,
I thought I would dust this thread off since I received some information directly from VRI.  I was pretty upset at the fact that RCI was going to increase their fees again (per another thread I was reading) so I decided to write an e-mail to executives at VRI (where I own my timeshares) to see if they knew about the fee increase and if they had any plans to do internal exchanges all within VRI managed resorts without using and/or paying RCI or II.  I received a pretty interesting e-mail back from Jan Samson who I believe is the Sr. Vice President Corporate and Business Development Special Projects.  See e-mail below:

-----Original Message-----
From: Jan Samson [mailto:jan.samson@vriresorts.com]
Sent: Wednesday, June 14, 2006 5:28 PM
To: Olson, Jeffrey
Subject: RE: RCI's new proposed fees for weeks exchanges


Hello Mr. Olson,

Currently, in order to exchange to another VRI managed resort, you have to
go through RCI or II.
Please note though, that owners at VRI managed resorts receive $20 discount
on an RCI exchange fee if exchanging to another VRI managed resort.  You can
also get three years membership for the price of two with RCI.

Very recently, VRI signed a letter of intent to purchase another timeshare
management company - Owners Resorts Exchange (ORE).  ORE has an internal
exchange program that we are hoping to be able to roll out to all the
resorts we manage.  It's premature to give any definitive information, as
the deal has not yet closed, and we're just trying to learn as much about
their programs as we can.

Owners will be notified if and when we are able to roll this program out.

I hope this helps to answer your questions.  Please let me know if I can be
of further assistance.

Thank you for your inquiry.

Jan Samson
Sr. Vice President Corporate and Business 
Development & Special Projects
Vacation Resorts International

I guess VRI did sign a letter of intent to purchase ORE but looks like they are still in the discovery phase of their potential purchase.  Good news for me as I'm pretty sick of seeing RCI increase their fees!!


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## chemteach (Jun 16, 2006)

Now that would be interesting.  There is no "trade power" with the ORE system, except red trades for red, blue for blue, white for white.  You can do a "request first" within the system, and the exchange fee is only $74.  the ORE system is already pretty big, and a joining of VRI with ORE and an internal exchange within the two systems would make a fairly decent sized exchange company.

Edye


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## Liz Wolf-Spada (Jun 16, 2006)

I would be interested in using an internal exchange system for my VRI week at Gaslamp. Then I would either use my Welk or give it to SFX and I guess give my S. A week to DAE if I can ever figure out how to get that week accessible. I thought I set it up for MF to come out every January, but I'm not sure I did. The communication, or lack of it, is a big problem.
Liz


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## T_R_Oglodyte (Jun 16, 2006)

basham said:
			
		

> ORE/MROP has/had an attractive Bonus Time program, looking around the VRI site I don't see an equivalent only rental rate charts.


That's because the vrivacations.com site is targeted at the travel market, not to owners.

VacationTyme is addressed at the VRI Onwers site - try this link: http://www.vriresorts.com/_vriowners/programs.html

The rates vary with resorts and size of unit.   If yoiu want to know the price for any given unit, I've found it best to call the resort directly.


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## madherb (Jun 16, 2006)

From a business standpoint this merger is probably quite sound.  ORE has a basic reservation/exchange system where VRI has none.  VRI has a major business focus on rentals and ORE is not strong in this area.  Both manage a fair number of resorts in areas of high demand.  The question from our standpoint is will this merger be beneficial to the owners or just the management.  If the focus leans toward management and exchanges then we may benefit.  If the focus is more toward rentals we may see the same issues as exist with RCI and its rental program.

Since I own 4 weeks with ORE and 3 with VRI, I am very interested in how this will progress, but I have heard nothing from either of the organizations.


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## beachsands (Jun 16, 2006)

I wish VRI would pick up a few more resorts in Myrtle Beach. I think that they only have one there at present.


Joel


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## funtime (Jun 17, 2006)

VRI rentals can be a great deal.  My sister just picked up three days in a So Cal resort studio for $40 a night.  This was in late May at the Winners Circle, a VRI resort.  The resort keeps a wait list for Monday rentals -- these are places that free up when the folks that were supposed to check in over the weekend do not.   Now that the prime time summer season is upon us, it is doubtful that there will be any no shows so these rates are probably most available in the off season.  Funtime


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## funtime (Jun 17, 2006)

For those that want to get into the VRI system inexpensively, look on ebay for La Boca Casa  (or is it Casa Boca?) in Boca Raton florida.  This resort in my mind is undervalued.  Indeed, it is an older resort across the street from the beach with no major bells and whistles but you can pick up one on ebay for under 100, sometimes for 1.25. They usually show up about once a month. It is VRI so you  can then access the VRI system.


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## Carlsbadguy (Jun 17, 2006)

What is interesting about this is a while ago there was talk of the Sweetwater Lift Lodge Hpmeowners Association pulling out of ORE and gettign a new management company.  The new company mentioned in a newsletter was VRI.  I wonder if this has to just do with this or the entire 2 companies are merging.


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## T_R_Oglodyte (Jun 17, 2006)

funtime said:
			
		

> For those that want to get into the VRI system inexpensively, look on ebay for La Boca Casa  (or is it Casa Boca?) in Boca Raton florida.  This resort in my mind is undervalued.  Indeed, it is an older resort across the street from the beach with no major bells and whistles but you can pick up one on ebay for under 100, sometimes for 1.25. They usually show up about once a month. It is VRI so you  can then access the VRI system.


Another inexpensive way to get in (and not just with VRI or ORE) is to contact the HOA at a resort you are interested in and ask if they have foreclosed units available for sale.

Many HOA's will sell foreclosed inventory to any interested person for closing costs only, because it's in their interest just to get the unit back into active fee-paying status.


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## shagnut (Jun 17, 2006)

This is the best news I've heard in a long time!!! I originally bought at the 4 seasons of St George for $500. The mf's were only 210 for years, then it got bought out by Coronado (a real dump) then that got bought out by ORE. Unfortunatly the mf's are over $400 but if I get priority into VRI, I will be a happy camper. The gave me a prebanked week at Fisherman's Warf in FLA in Sept., I was really po'd. What a horrible week. I just used it to trade into a 2br at FF Grand Desert in Las Vegas for my birthday!!  Feb 2007 ( president's week)  shaggy


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## bogey21 (Jun 18, 2006)

shagnut said:
			
		

> This is the best news I've heard in a long time...but if I get priority into VRI, I will be a happy camper.



I agree.  It sounds like one of the attractions for VRI is the newly written ORE online exchange system.  If that is the case and the VRI resorts are merged with the ORE resorts in the system, it likely would give me (an ORE owner) access to more resorts via internal exchange.  If it would also get me VRI priority, that would also be a plus.

GEORGE


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## talkamotta (Jun 20, 2006)

This may sound stupid but.....
I own at Fishermans Village. Until I retire, I probably wont be staying at that particular resort   (Ive visited Punta Gorda when I was staying at Longboat Key) and since I live in Utah, Im thinking this might be a very good thing for me.  
Im not sure what questions to ask and Im confused.  Do you have to join ORE or being an owner automatically gives you membership.  Is it an internal program like Marriot only on  a smaller scale?  Or is it just like II or RCI?  

Thanks


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## bmann (Jun 20, 2006)

Shagnut,

Just so you know Coronado in St. George was sold out and is no longer a timeshare. It was an old Motel 6 (I believe) and you are right it was a dump compared to ORE at St. George. They should have accomodated the owners in the MROP system for their weeks.


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## shagnut (Jun 20, 2006)

They told me they are building a new resort in St George to call our home resort. Who knows, I just traded to FF Grand Desert in Las Vegas 2/24th with my banked week they gave me.  I hope the rumor is true.  Lots of good resorts in VRI.  shaggy


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## ausman (Jun 26, 2006)

Shaggy,

My certificate (a red MROP) states "St. George Annual Scheduling Priority" , I bought this resale.

I did receive last year a letter, dated August 31, 2005, addressed thus:

" Dear St. George/CVV MROP Owners:

Progress is being made in the replacement of your St George resort. as many of you know, the initial plan was to purchase condominiums at the Sports Village property. However due to legal aspects it was determined to look elsewhere.

With that in mind, MROP began looking for other options. The best option that MROP found was to enter into an agreement to build new condominiums in the Snow Canyon asrea. The new project is named Entrada and is located on Snow Canyon Blvd. The project will consist of 20 new condominiums. Amenities at the Entrada resort include a check-in office, onsite swimming pool, and hot tub. Entrada is a planned community and will be close to shopping, dining, and will be surrounded by a public golf course. It is anticipated that the Entrada project will be completed sometime in the Spring of 2006. .............

Because you will own a priority into this wonderful new property, you will be given the first opportunity to book reservatios there. .............

We will certainly notify you as more information on the St. George replacement resort becomes available."

I haven't received anything regarding this since.

Whether I received this by accident or it applies to me I don't know but it may provide you something to ask further questions regarding your own ownership. Home resort doesn't mean much to me with MROP.


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## KevJan (Jun 27, 2006)

For those of you who were owners at the Coronada in St. George, you should be pleasantly surprised at the new property in Snow Canyon.  I just came from there and it is beautiful.  It is on the Entrada Golf Course and just across the highway from Tuacahn.  *It is a 1000% improvement!*


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## JudyS (Jun 27, 2006)

*Yes, VRI is buying ORE, and I think that's a bad thing*

I was just able to pry some information out of ORE.  Yes, VRI is buying ORE. In fact, someone from VRI is on-premises at ORE right now.  There will be an official announcement in the mail to RE owners "very soon."  As for exactly what this will mean in terms of exchange priority, etc., I wasn't able to find out. 

All of my resorts (except for my DVC contract) are either ORE or VRI. I own 2 ORE-managed resorts, and 3 VRI-managed resorts.  I see both benefits and drawbacks to this acqusition.  On the one hand, it may now be possible for ORE owners to get all the benefits of VRI ownership, such as VRI's internal exchange priority. (I don't know this for sure, but I'm assuming it.)  On the other hand, even though I see VRI as a very good management company, I don't think they are as committed to owner's interests as ORE has been -- I see ORE's dedication to owner's interests as completely unique in the timeshare business.  For example, I was able to convert my ORE-managed resort to RCI Points for RCI's own fees plus $1. VRI charges $2500 to convert a week to RCI Points.

I may wind up benefitting personally from VRI's acquisition of ORE, because I be able to get the benefits of both companies without needing to own as many VRI/ORE timeshares as I currently have.  On the other hand, it sounds like timeshare owners have just lost the management company (ORE) that was most concerned about their interests.   Furthermore, my opinion is that ORE and VRI are the best independent management companies in the business.   Now, instead of Homeowners' Associations having a choice of two very good independent management companies, there will be only one very good independent management company available. So, overall, I think this acquisition is a bad thing for timeshare owners.


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## ragtop (Jun 28, 2006)

*Re: Yes, VRI is buying ORE, and I think that's a bad thing*



			
				JudyS said:
			
		

> On the other hand, even though I see VRI as a very good management company, I don't think they are as committed to owner's interests as ORE has been -- I see ORE's dedication to owner's interests as completely unique in the timeshare business.  For example, I was able to convert my ORE-managed resort to RCI Points for RCI's own fees plus $1. VRI charges $2500 to convert a week to RCI Points.



One has to keep in mind that VRI manages for timeshare associations and the Boards of those associations set the price for RCI Points conversions when they were offered.


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## JudyS (Jun 28, 2006)

*VRI and Points "Conversions"*



			
				ragtop said:
			
		

> One has to keep in mind that VRI manages for timeshare associations and the Boards of those associations set the price for RCI Points conversions when they were offered.



Well, yes and no. I've spoken to VRI, and they claim that the price is the same -- $2500 for the 1st conversion, $500 for each additional conversion done at the same time -- at all of their resorts.  However, I agree that if a Homeowners' Association put pressure on VRI, VRI might change that price.  The problem is, with ORE gone, VRI will have less competition, and therefore less incentive to do what the Homeowners' Associations want.  

The reason that VRI's conversion fee is so high may simply be that they have contracted with an outside party -- Wroman, I think -- to do the "conversions."  (An RCI Points conversion actually just involves filling out a short form.)  Whether VRI is getting a share of that $2500 conversion fee, I don't know, but I would expect them to be.

By the way, I'm not sure what other options besides VRI will now be available for Homeowners' Associations who want to hire a management company.  There's Marriott, of course, but you have to meet their very high standards.  Anyone know what other management companies are around?


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## Carlsbadguy (Jun 29, 2006)

I just received the association update for the Sweetwater Lift Lodge and it does talk about VRI and ORE negotiating a posible stock sale.  On May 13, 2006 the ORE and MOA Board of Trustees met and unanimously approved the sale of ORE to VRI.  It goes on to say the exchange program will continue to be operated from the Salt Lake office and will be enhanced over he next few years to include many of the resorts that are currently managed by VRI.


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## T_R_Oglodyte (Jun 29, 2006)

howard said:
			
		

> It goes on to say the exchange program will continue to be operated from the Salt Lake office and will be enhanced over he next few years to include many of the resorts that are currently managed by VRI.


That sounds cool, especially as it would seem to indicate that VRI owners will be able to trade into ORE resorts and v.v.


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## philemer (Jun 29, 2006)

talkamotta said:
			
		

> This may sound stupid but.....
> I own at Fishermans Village. Until I retire, I probably wont be staying at that particular resort   (Ive visited Punta Gorda when I was staying at Longboat Key) and since I live in Utah, Im thinking this might be a very good thing for me.
> Im not sure what questions to ask and Im confused.  Do you have to join ORE or being an owner automatically gives you membership.  Is it an internal program like Marriot only on  a smaller scale?  Or is it just like II or RCI?
> 
> Thanks



ORE and VRI do not always manage ALL the units at a particular resort so just because you own at F.V. may not mean you own an ORE managed unit. Check your deed and call ORE. I was at Pend Oreille Shores last week and the manager told me that ORE owns and manages 347 units there.

So, before anyone buys a unit to 'get into' OR or VRI, make sure it is an ORE or VRI managed unit.

Phil

Phil


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## philemer (Jun 29, 2006)

funtime said:
			
		

> For those that want to get into the VRI system inexpensively, look on ebay for La Boca Casa  (or is it Casa Boca?) in Boca Raton florida.  This resort in my mind is undervalued.  Indeed, it is an older resort across the street from the beach with no major bells and whistles but you can pick up one on ebay for under 100, sometimes for 1.25. They usually show up about once a month. It is VRI so you  can then access the VRI system.



If you want to pay MF of $565 for a 1BR. Too rich for my blood. There is one on ebay right now. It's La Boca Casa.

Phil


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## timeos2 (Jul 14, 2006)

Anyone notice that the VRI purchase was finalized last week and that VRI does plan to expand the internal exchange to all VRI resorts:

“The ORE internal exchange program is extremely attractive, and we look forward to being able to integrate this program into many of the resorts that VRI is privileged to manage as a very cost effective, simple to use program for the owners,” says Joseph Takacs, President of VRI.

Some of the new resort locations included in this purchase are Jackson Hole, Wyoming; Mesquite, Nevada; Pinetop, Arizona; Ruidoso, New Mexico; Sun Valley, Idaho; Waikiki and Kauai, Hawaii and several locations in Utah, including Park City.

Sounds like a great new option soon.


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## ausman (Jul 15, 2006)

Was wondering what was going on.

The announcement is posted on the ore-inc site.

http://www.ore-inc.com/vriannouncement.htm

but doesn't give much more info.


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## bogey21 (Jul 15, 2006)

I am the owner of a ORE managed resort and have been very happy with the ORE Exchange System and pricing.  If this plays out as I suspect it will, everyone should win.  ORE ownners should get access to more resorts and VRI owners should get the benefit of the ORE internal exchange system.

GEORGE


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## PA- (Jul 15, 2006)

bogey21 said:
			
		

> I am the owner of a ORE managed resort and have been very happy with the ORE Exchange System and pricing.  If this plays out as I suspect it will, everyone should win.  ORE ownners should get access to more resorts and VRI owners should get the benefit of the ORE internal exchange system.
> 
> GEORGE



Someone post the current ORE fees, and let's resurrect this discussion next year or the year after.  In the last 5 years, exchange fees at ORE have increased $7.  Any takers on a wager they will escalate faster in the next 5 years?


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## ragtop (Jul 17, 2006)

Actually, the ORE contracts limit the amount the fee can go up each year for ORE resorts, so that won't change for them.


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## PA- (Jul 17, 2006)

ragtop said:
			
		

> Actually, the ORE contracts limit the amount the fee can go up each year for ORE resorts, so that won't change for them.



I doubt that it limits the amount to $7 in 5 years, does it?


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