News Article About Fee Increases for Marbella

[dioxide45]

Marriott's Marbella under fire over "four times UK inflation" fee increases​

Marriott's Marbella under fire over "four times UK inflation" fee increases

MVCI Marbella Beach Resort shocks observers increasing #timeshare fees by 400% of UK inflation

www.mynewsdesk.com

 

[DanCali]

Marriott's Marbella under fire over "four times UK inflation" fee increases​

Marriott's Marbella under fire over "four times UK inflation" fee increases

MVCI Marbella Beach Resort shocks observers increasing #timeshare fees by 400% of UK inflation

www.mynewsdesk.com

And what's amazing is that they saying the 8.72% increase in 2024 vs. 2023 is outlandish.

I actually think MVCI is maybe more "careful" with the European resorts due to greater consumer protections. Many resorts in the US (eg MGV, NCV) saw 15%-20% increases in 2024 vs 2023 and 30%-35% over the most recent two-year period...

 

[Hindsite]

Back to the same old problem that the components that make up inflation have very little correlation to the elements of the Timeshare resort budget, and people not bothering to know the difference.

 

[Likes to Travel]

I did notice it was written by a company who want to "help" you out of your contract...

 

[dioxide45]

I did notice it was written by a company who want to "help" you out of your contract...

Not surprised. I didn't catch that.

 

[kozykritter]

Why would you use the UK inflation rate as the standard to criticize a property located in a different country? Inflation is local. Clearly another agenda as has been mentioned.

 

[LeslieDet]

Not surprised. I didn't catch that.

The 2025 MFs haven’t been released yet. I think the annual meeting hasnt happened yet, but the bills definitely aren’t issued until late December. And the increase hasn’t been bad in the last 8 years I’ve owned at MMBR.

 

[bazzap]

Why would you use the UK inflation rate as the standard to criticize a property located in a different country? Inflation is local. Clearly another agenda as has been mentioned.

Ironically, it seems that Spain inflation rate has been lower than UK inflation rate over the last 12 months at 1.5%

Press section / Consumer Price Index (CPI)

INE. Instituto Nacional de Estadística. National Statistics Institute. Spanish Statistical Office. El INE elabora y distribuye estadisticas de Espana. Este servidor contiene: Censos de Poblacion y Viviendas 2001, Informacion general, Productos de difusion, Espana en cifras, Datos coyunturales...

www.ine.es

I guess this company is just referencing the UK rate as this is the target market for selling their services!

 

[ocdb8r]

This article is complete bollocks! Aside from all the debate had in another thread about how CPI doesn't necessarily correlate to a resorts basket of goods and services, the average inflation rate in the UK in 2023 (the year during which the 2024 budget/MF would have been set) was 7.3% (and it was 9.1% in 2022). Spain's inflation did dip singificantly in 2023 to 3.5% but it was 8.4% in 2022. Given the delay of some of those effects making their way into the longer term contracts utilized by resorts, I don't find the increase in 2024 outlandish. I would hope it goes down in 2025....but we shall see soon enough.

I actually think MVCI is maybe more "careful" with the European resorts due to greater consumer protections. Many resorts in the US (eg MGV, NCV) saw 15%-20% increases in 2024 vs 2023 and 30%-35% over the most recent two-year period...

I'm not sure it's as much about them being "careful" as it is about refurbs. In general, I find the European resorts on a longer aesthetic refurb cycle than US resorts. European resorts are able to lean in more on "traditional" resort feel and have less pressure to "refresh" the look and feel of units as regularly as in the US. This is purely my opinion based on visiting the Hilton, Diamond and MVC resorts in Europe. There was another thread on refurbs at MVC's Village d'ile-de-France and the long cycle between them.

 

[DanCali]

I'm not sure it's as much about them being "careful" as it is about refurbs. In general, I find the European resorts on a longer aesthetic refurb cycle than US resorts. European resorts are able to lean in more on "traditional" resort feel and have less pressure to "refresh" the look and feel of units as regularly as in the US. This is purely my opinion based on visiting the Hilton, Diamond and MVC resorts in Europe. There was another thread on refurbs at MVC's Village d'ile-de-France and the long cycle between them.

A different refurb cycle may affect the overall dues level and reserve levels required, but should not affect annual MF increases which should (in theory) reflect inflation levels.

I didn't realize the refurb cycle was different. Perhaps it also has to do with having tiled floors vs wall-to-wall carpeting.