Historical clarification / correction
<snip> Maybe 12 years ago the management company changed to Celebrity and we lost the gold status at some point..........<snip>. Maybe 8 years ago Legacy management took over and moved to RCI and started with the point system. <snip>
Just to be clear, Celebrity Resorts was
both the parent company
and the management company of a number of timeshare properties in Florida, including yours. We owned a week at a different Celebrity Resorts facility in FL, but gave it away (for free) around 2008. We had paid next to nothing for it (resale) in the first place.
Celebrity Resorts declared bankruptcy around 2009 and then later "re-emerged" under the new name of Legacy Vacation Club. Same resorts, same corporate players, same "in-house management company", same company-controlled stooges on the HOA's --- just a new company name in the aftermath of bankruptcy. My guess is that relatively few owners ever even
knew of the bankruptcy proceedings going on behind the scenes anyhow, since no Celebrity resorts closed down and no outlandish fees or special assessments were imposed before, during or after the bankruptcy proceedings.
Only
after the aforementioned post-bankruptcy "reinvention" from Celebrity Resorts to Legacy Vacation Club did LVC begin to adopt and peddle RCI Points (...at several thousand dollars per "conversion", of course, to infuse some cash into LVC operations).
The bottom line is that a
low cost Legacy Vacation Club week acquisition now, with RCI Points
already attached, may not be a bad deal, whether or not the buyer actually wants anything at all to do with LVC or with the underlying "home" property. Since someone else has already (unwisely, IMnsHO) ponied up the $3-5k required to make that "conversion" to RCI Points, if the buyer is comfortable with the mf / points ratio it could actually be a pretty good score ---
if (...and maybe
only if) acquired for little or nothing in the first place.