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Thirdhome

Discussion in 'Exchanging' started by jssquared, May 30, 2018.

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  1. jssquared

    jssquared Guest

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    Hi All,
    We own a Grand Luxxe Residence contract with Vidanta. We are already part of Registry Collection and Elite Alliance and others for exchanges.
    However, I just began to take notice of a site called Thirdhome. It looks like they have a very nice collection of luxury properties.
    Has anyone had experience with Thirdhome? Good, bad, etc.
    Thank you so much for your help.
    Jason
     
  2. TravelTime

    TravelTime TUG Member

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    I have not been impressed with customer service. I do not like people staying in my home but I can also register with them through my various upscale times shares. However, they give you very few keys but it costs a lot of keys to get things. Their sales people are very unresponsive in general.
     
  3. jssquared

    jssquared Guest

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    Thank you so much for your reply. Do you recommend Elite Alliance or Registry Collection as a superior product? It seems like Elite Alliance has a similar caliber and type of offering.
    BTW - the 4 bedroom residence garners maximum points on Thirdhome especially if you time the week that you are depositing correctly.
     
  4. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    I don't think you can deposit timeshare ownership in to ThirdHome. ThirdHome is a home sharing system where you deposit intervals of time in your high end luxury home or vacation home and in exchange you can travel to other people's luxury homes for which they also deposited time. It works just like RCI or II but for houses. I am curious about the legitimacy of ThirdHome. Are they an exchange company? Are they registered like RCI and II in the states that they do business.
     
  5. Steve Fatula

    Steve Fatula TUG Member

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    MVCI Presidential and above can use points to reserve homes. I was looking at some last night and I saw a number of homes priced similarly to say a Hawaii week, or less. Looked pretty good for what I saw, but was going to re-look when I get back to the states. Thought of possible using for a family reunion.
     
  6. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    It looks like ThirdHome also does rentals. I suspect that MVC is doing is converting your DC points to a cash equivalent and then booking through ThirdHome?
     
  7. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    Last edited: May 30, 2018
  8. Steve Fatula

    Steve Fatula TUG Member

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    Possibly. What I wanted to do was compare a few point costs vs renting the same place. To see if it's like cruises, or not.

    Comparing is not easy, as, not all houses can be rented, some do not show rates, and, not all houses can use dc points. I found one quickie. Dominican Republic La Romana. It's a 4200 sq ft house, rents 'between $375-$925/nt'. So, assume $375 * 7 = $2,625 for a week on the low end. For dc points, it costs 4500 pts in October, hurricane season. So, mf wise, thats say $2,520, close to a wash.

    Brazil, Porto Seguro, March, costs $735/day rental, vs 4500 dc points for a week, vastly cheaper. 7 bedroom house.

    Will have to do more comparisons. Question is, can you get rental discounts.
     
    Last edited: May 30, 2018
  9. TravelTime

    TravelTime TUG Member

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    So far, I like Elite Alliance the best but they are smaller and less well known than Third Home. Elite Alliance's customer service is excellent, their employees are personable and responsive, they have really nice properties, I get a good exchange value for my Four Seasons if I book and deposit a holiday week and they have many getaways for no points and they also have a lot of inventory in California esp North Lake Tahoe and Napa. The sales people at Third Home were arrogant and did not follow up with me regarding my questions or they said they would call back and did not. No one responded to my last email at all. I can also enroll in Third Home for free with Four Seasons and those of us in the higher levels of MVC also get use of Third Home. Forget the Registry Collection. I am a member and the inventory is not to my liking. I do not find The Registry to be all that upscale. The Registry is inferior to Elite Alliance by a long shot. It is just an extension of RCI, which I do not like at all. The 4 bedroom GL residence is very expensive so I imagine that you would getting a lot of points or keys for depositing it.
     
  10. TravelTime

    TravelTime TUG Member

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    That was their original model. They used to advertise as the AirBnB for luxury homes. However, I cannot imagine I would ever want to enroll my second home in AirBnB and have strangers potentially ruin it. Also, I question what kind of "wealthy" people would have the need to enroll a home and exchange. Seems like the wrong target market to me.

    In terms of their rental business, some of their homes are beautiful but those rent for a lot. But many are definitely not luxury. Here's an example of what I mean. These are not luxury homes. It looks to me like people are putting homes they don't use into the rental pool and ThirdHome is managing it as a property management company.

    https://rentals.thirdhome.com/properties/13-kissimmee-orlando-florida-reunion-resort-golf-6

    https://rentals.thirdhome.com/properties/100-moab-utah-moab-slick-rock-oasis

    Their rental business might do better than their home swapping business model since people who are renting their "investment" properties on Third Home probably do not use it much personally and they get income from it, rather than swapping, which seems very downscale to me.

    ThirdHome is also expanding into partnering with commercial companies that have high end timeshares and corporate owned villas. This has more potential, IMO, except ThirdHome gives out less keys than it costs to get anything equivalent.

    I would be fine exchanging my high end timeshares in Third Home or using MVC points if they improved their business model because timeshares are not my personal home with my possessions in it. But their business model right now does not make much sense depositing timeshares because it is hard to get a good exchange. But I am sure some people on TUG will figure it out.

    Also, no one pays the entry level membership fee of $2,500. They let everyone enroll for free as long as you make a qualifying timeshare deposit or exchange your home. If you own a luxury timeshare like Four Seasons or Ritz Carlton, you can deposit your weeks and get "keys" - their version of points. However, they do not give a lot of keys. You need to deposit more than you would get in return.
     
    Last edited: May 31, 2018
  11. TravelTime

    TravelTime TUG Member

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    Brazil is not doing well and has a high crime rate, terrible beaches and vast poverty. So I can imagine that is why you would get a good exchange in places like Brazil. Argentina is in economic trouble so I think you could get good exchanges there too. It is such a shame what has happened in Venezuela. It used to be the crown jewel of South America.
     
  12. Steve Fatula

    Steve Fatula TUG Member

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    We found Argentina to be great, our best trip ever actually. iguazu Falls was our all time favorite.

    There’s no denying the value of a home for a group for 3,000 or even 4,500 dc points. There’s many within the US as well. All the pictures are there, no guessing. If I can take a group of 14 for that few points, I likely would

    I may open a thread in the Mvci area to hear specifically from anyone who may have used points with thirdhome, would be curious to see how it went, etc
     
    Last edited: May 31, 2018
  13. TravelTime

    TravelTime TUG Member

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    Yes I would be curious too regarding the use of DC Points. I would never swap a home or rent a home on ThirdHome but I might consider using DC Points if the trades were worth it. Personally I like staying at resorts with amenities over other people's homes.

    Argentina is great but have you heard that their economy is in big trouble right now? They had stabilized for many years but the economy is having hyperinflation and 40% interest rates.

    https://www.nytimes.com/2018/05/04/business/economy/argentina-economy-interest-rates.html

    https://www.wsj.com/articles/gradua...essure-to-hasten-economic-overhaul-1527586201

    So that is why I imagine you will get great exchanges in Argentina. I have a test account with Elite Exchange and the properties they have in Argentina are easy to get and trade for no points or very little points.
     
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  14. Steve Fatula

    Steve Fatula TUG Member

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    I would never trade my home either! No doubt.
     
  15. TravelTime

    TravelTime TUG Member

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    I was looking through Third Home's website and recent news. It looks like they are expanding into the rental business - they just made a major announcement about this and it is featured on their website. This feels like a more upscale version of AirBnB except they seem to be less picky about the homes they are letting in now than they were when they launched their original luxury home swapping model for the uber rich. It sounds like they are promoting price and cost effectiveness more now. They used to promote themselves as the AirBnB for millionaires and billionaires. Some of their less fancy or less exclusive homes are pretty inexpensive to rent. Their new marketing strategy seems targeted to the upscale mass market i.e. the top 20%, not the 1% like when they started. Perhaps they will be an acquisition target by AirBnB at some point.

    The area that would interest me if we could use DC Points would be exchanging with their affiliates, which are mainly high end residence clubs: https://exchange.thirdhome.com/affiliates. In this line of business, they are becoming more like Elite Alliance.

    I think the rental business and the resident club exchange business have more potential than the home swapping model they started with. The home swapping part is what turned me off.
     
    Last edited: May 31, 2018
  16. Steve Fatula

    Steve Fatula TUG Member

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    They are appropriate for groups, like a reunion. Could be fun. Would notvuse for just us.
     

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