I read this as an accusation, specifically Wyndham was manipulating mf to provide them with greater profit than they would have had if they had played it straight
The manager is required by law to manage the club to the benefit of the club members. I’m no lawyer, but I’m pretty sure to do otherwise is not legal
That’s the context as I read it: CWA maintenance fees. And you were pretty clear, that if mf is over $5 Wyndham must be managing this thing to “Fuel their jets” I dont think they are doing that and If they were I think it would be illegal. So to my way of thinking you have accuses Wyndham of doing something illegal
Ron, maybe I am oversimplifying it, but I see it that maintenance fees do include several rather vague lines that are pure profit and likely used to "fuel the jets" of the corporate players and over-compensated board members. Such things as "Management Fees", "Association Fees", "General & Administrative", "Operating Capital", "Other Expenses", and others are certainly ones that are legally siphoning monies to Wyndham. Just looking at one of recent association fee breakdowns, those line items combined for about 25% of the stated expenses. And they represent more than total maintenance costs, more than guest services, more than housekeeping, more than all utilities combined, and more that replacement reserves. All in all . . . a lot of something, maybe it is jet fuel.
It does seem more gamesmanship than real world accounting that CWA started with MFs markedly lower than many popular resorts, but is now higher than most, with the exception of the Pompano Beach resorts.