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Lusso Collection files Chapter 11 bankruptcy

jlee2070

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At one time, I was really interested in DCC's (HCC) but now I will hold and see... Funny thing is the BIG advocates of DCC's on this board as not chiming in on this thread either to confirm or deny any these dire predictions...
 
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I think most of the activity on DCs has moved over to destinationclubforums.com. With that, I rarely post over here anymore.

Personally, I think the truth is somewhere in the middle like in most situations. Like every industry including timeshares, we've got some rough seas ahead, but not every club is going to fail. DCs will become mainstream, just like timeshares. Think of the terrible reputation that timeshares had at one point. It's still not great, but vastly improved over the last decade.

The customer satisfaction rates for DCs are sky high unlike timeshares, but they need to fix the achilles heel of the industry, which is deposit safety. We're definitely starting to see some good signs like audited financials, more equity clubs, larger clubs, less debt, more brand names, more solid backing, and more experienced management, which all bode well for the industry long-term.
 

Transit

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To be honest, Perry, I have the same concerns with VRBO -- what protection does the renter have that the VRBO locations actually look as good as the pictures and that they are going to be 'open for business' when they get there? Have you had any first hand VRBO renting experience?

You can look at some of destinatiion club locations and find VRBO rentals in the same Exact complex. This is what turn me off from HCC a while back.I was finding some Identical units they had in their portfolio for about the cost of their yearly fees.
 
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To be honest, Perry, I have the same concerns with VRBO -- what protection does the renter have that the VRBO locations actually look as good as the pictures and that they are going to be 'open for business' when they get there? Have you had any first hand VRBO renting experience?

You can look at some of destinatiion club locations and find VRBO rentals in the same Exact complex. This is what turn me off from HCC a while back.I was finding some Identical units they had in their portfolio for about the cost of their yearly fees.

Some DC properties are incredible deals and some are not deals. Just depends on the location. In any event, my experience is that DC properties are much better furnished, decorated and amenitized than VRBO or other individually owned properties. Sure there are exceptions, but I think you'd find that DC accomodations are nicer than than their comparables a very high percentage of the time.

If the industry as a whole can cure the achilles heel, DCs (as PerryM pointed out, maybe they'll be called something else) can be an amazing success.
 
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caribbeansun

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Completely agree - just look at some of the furnishings of the places on VRBO - people buy high end properties and furnish them with crap more times than not. I actually use the furniture pics as the second level filter after price.

Some DC properties are incredible deals and some are not deals. Just depends on the location. In any event, my experience is that DC properties are much better furnished, decorated and amenitized than VRBO or other individually owned properties. Sure there are exceptions, but I think you'd find that DC accomodations are nicer than than their comparables a very high percentage of the time
 

PerryM

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Strike 3 and your ouuuuutttttt!

The concept of a DC is fantastic – companies could offer all kinds of upscale villas that the “first class” folks on airlines demand. Heck, even the folks who can afford their own jet are DC members.

Sadly the hucksters who started many of these things had a different purpose in mind – something akin to a Ponzi scheme and that’s what the DC community is now stuck with. Way over leveraged with loans, business plans that assumed ever higher real estate prices, and that folks would continue to buy DC memberships no matter what the economy did. Strike 3 on all of them.

After many/most of the hucksters watch their DCs go down the toilet a new wave of DCs will emerge – one that offers exactly what their members want and all the benefits of real estate appreciation over the long run. It will have to be called something besides a Destination Club - maybe an Arrival Club.

I have no idea when this will happen but in the mean time I’d suggest that DC members factor 100% of the membership dues into their estimate of what it costs to stay at something that can be gotten on VRBO but with less frills.
 
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