70mach1428
TUG Member
has anyone heard what the resorts are planning for the end of the Caribbean? Are they going to sell or buy back themselves? What have they told you? Any word on value of the resort?
Thanks
Daryl
Thanks
Daryl
has anyone heard what the resorts are planning for the end of the Caribbean? Are they going to sell or buy back themselves? What have they told you? Any word on value of the resort?
Thanks
Daryl
If I remember correctly,When is the termination date of Royal Caribbean? What about the Royal Islander. With Royal Cancun sold, and as these continue to go away from timeshare, it really starts to limit the non AI timeshare options in Cancun
Thanks for this. Though I think you may have the Cancun and Mayan reversed. I believe it was Royal Cancun that was sold and residual was distributed to owners.
So the Royal Mayan is now the Emporio Cancun? Was there not another property in Cancun called the Royal Cancun? Perhaps not a part of the Royal family of resorts?Nope. Correct as written.
Yes, they are going to sell and they may or may not try and buy it back themselves. Personally I lean toward them trying to buy it back. It'll then go AI and RCI points based like the others.
The Mayan is now Emporio and yes there is/was another Royal Cancun, by a different company. I think they called it "The Royal", it is a bit north of the The Sands. The Royal Resorts "The Royal Cancun" (a name they own) was called other names for a while.
What was it renamed to?Regarding the comments about the Royal Cancun by "youppi" and "dioxide45", you are both partially correct. The Royal Cancun original name was Club Internacional de Cancun a/k/a Vacation Club International. It was the first of the Royal Resorts. Its 30 year trust was up in 2007 and instead of selling as originally planned, the Royal Resorts renamed it and offered members the chance to re-up for another 30 years. However, those owners who did not re-up received payment of their residuals.
What was it renamed to?
When we were there last year we asked the salesman what the plan was he said we would likely get between .79 to .89 cents on the dollar that was based on my unit which is week 16 and almost dead center of building D.has anyone heard what the resorts are planning for the end of the Caribbean? Are they going to sell or buy back themselves? What have they told you? Any word on value of the resort?
Thanks
Daryl
I was at the RC about 2 weeks ago and fwiw was told that full residuals will be paid to all owners of record at the end of the trust. The reason being that the property is a little larger than the Mayan and the economy is much better than it was in 2013. I was also told that it is almost certain that the Emporio will be the highest bidder. They have the resources to outbid the competition and eventually want to buy the Islander also. They seem to think it’s a done deal. I was told the same story by reps at the Sands and Haciendas. Was also told there are plans to build a new Royal Palms near Puerto Morales in a couple of years.
We're owners at the Royal Caribbean (bought it off a person on TUG2 in 2006) and are headed to the Royal Haciendas in May (2018). It's a little frustrating not to find any information on the Royal Resorts website-- on the timeline for getting our residual value on our Caribbean contract. Did they explain it to you in "the sales pitch" meeting when you went? We're in your boat, Mike, we've long been ready to move on from the Royal Caribbean. We're okay for now with the minimal number of points we purchased off of the Royal Haciendas, but foresee that even our kids won't use them too much in the future. VRBO and AirBNB are now the ways to go and NO ANNUAL MAINTENANCE FEES! Who knew!!??That's consistent with what we were told in December. They are moving toward the points wherever possible. We'll take the $ and move on.
The answer they are providing now is consistent with the contracts. Residuals will be distributed to members in good standing after the sale. Residuals will be pro-rated based on net amount after paying expenses, including severance. Reserves will also be included in the residual calculation. Sounds like there may be more info in May or later after they open and announce all bids. Our payments, or what's left, will not be paid for a number of months (6+/-) after the closing. Other than that, there is a lot of speculation. Keep checking the owner area of the royalresorts.com site.
During the sales pitch they have offered a calculated value of residuals toward purchasing points. Not sure how they calculate this value because the property has not been sold, but I can imagine that it's more favorable to RR than a purchaser.
ScamHas anyone heard anything about a Title Company called Sandiva Title and a Travel Agency called Advance Travel purchasing the Royal Resorts timeshares? I received a call, which was followed up with a contract stating this travel agency had a buyer for my timeshare at the Islander. I only have 3 years left and the price is very good. I'm confused as to whether its a scam, and why anyone would pay (good) money for 3 years at the Islander. Anyone have any insight?
Thanks.
An unsolicited phone call to buy your week is a huge red flag. Even more so when they already have a buyer. It is unlikely that they even know your ownership is about to end in three years.Thanks, How do you know?
I don't think anyone knows and it doesn't seem like they will for a while.Thanks for the heads up. What have people experienced with the end of the ownership? Has the payout been much?