I noticed the thread in the Hyatt forum that the same attorneys have filed a similar lawsuit on behalf of Hyatt Grand Aspen owners. In the article linked in the other thread, there is a reference to the Aspen Ritz-Carlton suit moving to Federal Court in Denver. So I went looking for it, and to my surprise found it to be interesting reading.
https://www.govinfo.gov/content/pkg/USCOURTS-cod-1_16-cv-01301/pdf/USCOURTS-cod-1_16-cv-01301-2.pdf
Until reading the court documents, I thought all the talk about "exclusivity" was just the usual sales spiel. Some degree of exclusivity
is written into the Aspen Ritz-Carlton documents:
"The Master Declaration sets forth various aspects of a planned community and includes a section entitled “No Timeshare,” which states:
Each Owner acknowledges that Declarant intends to create Fractional Ownership lnterests with respect to certain Units within Aspen Highlands Village. Other than the right of Declarant . . . and specific assigns . . . to create Fractional Ownership lnterests . . ., no Unit shall be used for the operation of a timesharing, fraction-sharing, or similar program whereby the right to exclusive use of the Unit rotates among participants in the program on a fixed or floating time schedule over a period of years."
There is another section in the Declaration titled "Limit on Timesharing".
I agree with all the posts that timeshares lose at least 75% of its value the moment the rescission period ends. I do not know how the plaintiffs will be able to put a price on the "exclusivity" that they allege losing. I just thought it interesting that the exclusivity is actually written into their Declaration of Ownership.