Capital Vacations buys Vacation Resorts International Americas

[Roger830]

It will be interesting to see if there are any "wind downs" at some of these properties. VRI has quite a few that are ripe for sunsetting. The dirt beneath the building is worth more than the building.

This is something that we have been wondering about at Hollywood Sands.

They are currently constructing condos on the inner coastal on our block and the company has acquired some lots across the street that they're using for storage.
The Marriott next to us owns some of the property between us and them.
I'm hoping for 10 more years. By then, there probably won't be anymore ocean front property for $765 per week plus inflation in Jan/Feb in South Florida.

 

[dayooper]

Here's a thread where MROP (managed by VRI) sent out and assessment on April 30th and states that it's delinquent if it's not paid by May 1st. Could this be someone trying to squeeze some money out before the transaction took place?

 

[rickandcindy23]

Foxrun owners wouldn't go along with the sunsetting of Foxrun. They fought tooth and nail. I would rather have ended Foxrun as a timeshare.

 

[headoflife]

Foxrun owners wouldn't go along with the sunsetting of Foxrun. They fought tooth and nail. I would rather have ended Foxrun as a timeshare.

Me, too Cindy. I find it hard to believe it isn't worth more as land, or whole ownership units. I get good trades, but it would have been a clean way to be done with it, and maybe even come out a little ahead.

 

[jrb916]

Does anyone have a points chart for Capital Resorts? I can not find one anywhere.

Great question as I also have been looking for it. We attended a VIP weekend recently at Stormy Point (SPV) in Branson & got this info on their tiers:

Tier 1: 35k SPV is tier 1 sept/oct- April
Tier 2: 75k
Tier 3: 100k SPV is tier 3 May-sept
Tier 4: 150k
Tier 5: 200k
Tier 6: 250k

These amounts are for a week.

They wouldn’t give us all the details but I got that info which was more than I’d seen. We have a deeded week & they want us to move to points. We’ve now been invited 3 times for inexpensive weekends wanting our week& keep saying NO.

 

[T-Dot-Traveller]

Here is a thread that may add information for readers :

Possibly Buying Capital Vacations Club Gold Membership - Advice Needed

- thread started in April 2021

 

[tomt73]

We own 7 weeks (4 on points) at Lake Placid Club Lodges (LPCL, Lake Placid, NY) and two winter float weeks at Las Brisas de Santa Fe (Santa Fe, NM). I just succeeded in getting VRI hired as Las Brisas' new management company. I drafted both the Request for Proposals and the Proposal Evaluation Metrics for the Board. I also did a bunch of research legwork both to convince the Board a new manager was needed and to identify prospective candidates.

VRI has managed LPCL for about 25 years, with great results and owner satisfaction the whole time. They do a great job of hiring and supporting on-site management and staff. They've also come up with creative solutions to problems that face independent resorts. Their acquisition by Marriott didn't seem to affect their relationships and performance for their independent resort clients at all. It will be interesting to see how Capital Vacations integrates with them, VRI being much the larger organization in the deal.

BTW, I've been told (years ago and this may have changed), that owners of VRI-managed properties get a priority in RCI's platform when exchanging into other resorts managed by VRI. This seemed to work for us last winter when we exchanged into Jackson Pines, a VRI-managed property in Jackson, WY.

 

[Amadeus51]

VRI does management for MROP; Does anyone have information about implications to MROP from the Capital-VRI deal??

 

[SteelerGal]

I own at 2 Independents and haven’t had issues at VRI. Hopefully there will be a buyback program instituted.

 

[T-Dot-Traveller]

VRI does management for MROP; Does anyone have information about implications to MROP from the Capital-VRI deal??

Did you read this thread that was started a few days before the purchase of VRI by Capital :
MROP special assessment

 

[Sanwang]

Me too...

Dose it have positive or negative effects on VRI owners?

 

[jackio]

Dose it have positive or negative effects on VRI owners?

I guess we we will have to see.

 

[PrairieGirl]

VRI was managing Sedona Springs when we purchased there in 1996. We were very happy with their management of the resort. Later we had to endure the years of what I always refer to as the "Sunterra Fiasco". Whatever else you have to say about Diamond, they brought VRI back as our management company and I was elated! It has been smooth sailing ever since.

 

[legalfee]

Me, too Cindy. I find it hard to believe it isn't worth more as land, or whole ownership units. I get good trades, but it would have been a clean way to be done with it, and maybe even come out a little ahead.

Glad they didn't. Love Foxrun and have only traded it twice in the last 12 years. We're going there next week.

 

[chapjim]

I own four weeks at The Resort on Cocoa Beach, a VRI-managed facility. I've had very little direct contact with VRI. I make reservations and pay maintenance fees for the next year while we are at ROCB, usually in May. Confirmations look like they come from VRI and I can go into VRI's web site to check account status. If it continues to work like that, I'll be happy.

 

[schenriq]

We own a Yellowstone summer week that is managed by TPI. TPI is also our exchange company although I could deposit our week to RCI or II should I so desire. I think TPI (and our independent HOA) is doing a good job managing our resort as we've gone through upgrades and built a new clubhouse/pool with very minor increase in our MF.

The odd part of TPI being the managing entity and also the exchange company is that our booking confirmations will have the "Trading Places International" logo and watermark. I always need to explain (to my renter when renting out) that I got my week by paying my maintenance fee vs. snagging it from the exchange.

 

[nuwermj]

Is the Apollo investment company the same company that own shares in the acquisition between DRI and Hilton?

Yes, but it looks like they may have only provided financing for this deal between Capital and VRIA.

Apollo took ownership of Capital Vacations in 2018. The latter was a private company, so there was nothing in the press. Apollo "providing financing" for the current deal, works much like they provided the financing to take Diamond private -- the loan is secured by the equity of the company and Apollo owns the company's equity.

 

[jrb916]

This is why I consider them Diamond-Light. They are following the Diamond business plan. They even created their own DEX program called Global Exchange that uses RCI as the behind the scenes platform.

 

[BM243923]

Just tried to get into the VRI owners portal and this is the message I got

This page isn’t working right now
vriresorts.com can't currently handle this request.
HTTP ERROR 500

 

[buzglyd]

Just tried to get into the VRI owners portal and this is the message I got

This page isn’t working right now
vriresorts.com can't currently handle this request.
HTTP ERROR 500

I hope they get that fixed soon. I need to make a 6 am reservation next Friday.

 

[Bwolf]

I just got into the Owners Portal.

 

[amycurl]

Interesting. We stayed at a Capital Resort over Thanksgiving in 2017 on the "Inner Banks" of the NC Coast. There was *one building* built, and a live-in onsite manager. The units were *huge* and had clearly been built with whole ownership in mind. It's still the largest kitchen I've ever had the pleasure of prepping Thanksgiving dinner in, and that includes my own house.

But there was never even an ask about a presentation. The manager was just that--a manager--and had nothing to do with sales. We invited him to share Thanksgiving dinner with us, and he did. Delightful fellow. I think there were plans to continue building out--the entire site had been prepped, utilities put in, etc.--but I'm not sure they have. This would have been just before Apollo entered the picture. There was a brand new outdoor pool/hot tub/grill/fire pit/gazebo area that was quite lovely, and it was right on the water.

In the press release, they mention that "if requested" Capital will reach out to the VRI-managed resorts about other products/services. So maybe there won't be full integration into the VRI/TPI exchange unless the individual HOAs request it?

Interesting stuff....

 

[BM243923]

I hope they get that fixed soon. I need to make a 6 am reservation next Friday.

I now got in, thanks.
I guess the buyout did not have anything to do with my not being able to get in.
Thanks again