I was reading the "Maui Ocean Club mug" thread re: "buying/selling of mugs", and saw a comment saying
This bought a few question to mind related to my lack of understand on how a resort is run/managed. (These question may apply to other "systems", but I'm mainly interested in the specifics of the Marriott system.)
Here goes...
Associated with a given resort, I see 3 major players:
The questions below are intended to help me understand how a resort runs from a business point-of-view. I'm sure there is other information that is relevent, so please include anything that might be useful.
[Note: I might have a good guess at a few of these, but wanted to ask to be sure my assumptions are correct.]
Note that I'm a little new at TS thing. So even my assumptions my be wrong, so please correct me if they are. TIA
"...others will say your MF will go up if you do..."
This bought a few question to mind related to my lack of understand on how a resort is run/managed. (These question may apply to other "systems", but I'm mainly interested in the specifics of the Marriott system.)
Here goes...
Associated with a given resort, I see 3 major players:
- The HOA, which is headed up by the BOD.
- The resort management company
- The developer
The questions below are intended to help me understand how a resort runs from a business point-of-view. I'm sure there is other information that is relevent, so please include anything that might be useful.
[Note: I might have a good guess at a few of these, but wanted to ask to be sure my assumptions are correct.]
- Who sets annual the MFs level?
- Who sets the periodic assessments?
- Is the management company the entity that collects these fees directly from the owners?
- Does the management company get a set amount (or set %) of MFs?
- Am I correct in assuming that the management company has its own employees working there (e.g. MVCI employees at the check-in desk), as oppose to HOA hiring hiring/paying these workers?
- Are there any other revenue sources (other than from owners' MFs and assessments), say from the "developer" and/or the "resort management company"?
- Where do the revenues (and profits) go for things such as:
- Bike rentals
- Beach item rentals
- Bars
- Restaurants
- MarketPlace
- Parking
- For unsold units that the developers still holds, are MFs (or some portion) paid by the developer?
Note that I'm a little new at TS thing. So even my assumptions my be wrong, so please correct me if they are. TIA
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