Notice to owners at Pacific Grove Plaza

[lynne]

Just received this from our board and not sure if this is a good or bad omen:

Dear Pacific Grove Plaza Owners,

Your Board of Directors has authorized Capital Vacations to provide all Owners, in good standing, with a membership to Capital Vacations’ exclusive Exchange program, Trading Places Legacy.

Trading Places Legacy offers great value for owners, including: No Membership Fee Access to RCI's Availability (4,200+ resorts worldwide) Low Exchange Fees ($149 - $189) 3-year Expiration for all Deposits (most programs only offer 2-year) Unit Size & Season Upgrades (upgrade fees apply)

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[theo]

Personally, I cannot begin to imagine there being anything “good” about a new and unexpected association with the slimy likes of Capital Vacations, but maybe this exchange program is an innocent and harmless exception. Hope springs eternal…

That said, this could be a harbinger of unwelcome things to come. More specifically, beware of the prospect of Capital Vacations hyenas bringing their hard sell peddling of their “convert your deeded weeks to our CV points” pitch to your resort. I sincerely hope that no such unwelcome appearance by those hungry jackals occurs at your resort.

 

[mjm1]

It’s good to have options as long is it is only an option. Presumably you still have access to either II or RCI.

PG is a nice city and the resort is in a good location. We always make it a point to drive and walk along the road by the ocean when we are in the area. Beautiful!

 

[gravityrules]

It seems Capital Vacations subsidiary VRI manages Pacific Grove Plaza. Is the HOA there still independent? Is the resort presently well maintained and well run? Is the resort in any distress?

 

[lynne]

It seems Capital Vacations subsidiary VRI manages Pacific Grove Plaza. Is the HOA there still independent? Is the resort presently well maintained and well run? Is the resort in any distress?

Our HOA is independent and well maintained. They do have an auction annually for any deeds that have been turned back to the resort when the maintenance fees are delinquent.

There are only 16 units total and the resort closes 1 week/ year for major maintenance.

 

[gravityrules]

If your HOA is keeping a tight leash on VRI then the 'no membership fee' TPI membership shouldn't be a big deal.


I don't find much value in TPI now that they have moved to a tiered system. TPI has basically strip mined any opportunities you might have had in the past for arbitrage (receiving something perceived as more valuable than what you deposit). Fees for size upgrades ... Fees for each tier upgrade ...

There does seem to be some linkage to DRI inventory, perhaps through DEX which is a similarly tiered product.

The cash prices in TPI are generally very inflated and not competitive with II getaways or RCIs Extra Vacations.