ORE - Owners Resorts & Exchange company

[katsgarden]

Anyown familiar with this vacation club? The small vacation club that I currently belong to, is considering merging with ORE and so I'm trying to learn about the program. Good or bad.

 

[laynemiller]

I currently own at Park City Liftlodge, which is managed by ORE. It seems to be well run and service is excellent. They are small but it seems easy to navitgate the website and most trades and other items can be handled over the Internet.
Layne

 

[Hatrack]

Read more about ORE here:

www.ore-inc.com

I'd recommend reading the "history of ORE" page, the MROP program discription and the description of 'annual scheduling process". You'll also find the list of 50 or 60 resorts, photos.

ORE is a management company born out of the bankruptcy of Sweetwater timeshare developer. I like the fact that 13 desperate home owners' associations formed the not-for-profit type management company called ORE. They've since grown that business into managing 50 or 60 resorts. They've implemented an internal ORE Exchange program among the 35000 or so TS owners at those resorts....kind of like a miniature RCI/II. But no annual fees and just ~$70 to exchange. ORE also offers 'bonus time' for short notice vacancies they may have.

Along the way, ORE placed various timeshare weeks from the various resorts into a floating 'club-like' Homeowners' Associaiton called MultiResort Ownership Program (MROP). You can thus get a "always red" or a 'rotating red/white/blue" floating week of TS ownership in MROP. Each May, you enter the computerized annual scheduling program, select your desired week/destination(s) and 2nd/3rd/4th....20th choices and see if you get alloted those weeks by the prioritized/scheduling software. If not, MROP owners can search the online availablilty and trade within the ORE exchange. Your individual resort may be RCI and/or II affiliated in addition to the ORE exchange option.

I own a MROP Red week. I've gotten Christmas/NewYears at ski destinations 3 yrs in a row! I'm happy w/ my modest investment in MROP. I have access to 7000 TS Weeks of various unit sizes in the 60 locations....it's like I own a "floating red week"....except it also "floats as to location" as well as the week/unit. (I also own Worldmark "Points system" timeshare. MROP has some of that points-like flexiblity, except that you're fixed to weekly stays. WM is 'goldcrown/5star" and MROP is 'standard', for the most part).

Most of the ORE-managed resorts are modest/standard and a little older. But ORE is well run. Folks are happy w/ their management. M/F tend to be lower. The MROP program has around $400/yr M/F for a 2br/red.....a weighted average of the ~7000 TS weeks in the pool. MROP also transfers for just $85 (no deed to record.....a membership in a 'club-like' entitiy that holds the deeds.)

I"ve read where ORE has won the management contract for other resorts in the past 3 years that I've owned.....they could either add the resort to the list of conventional resorts, and those owners could join along in the ORE exchange (and little else change besides the mgmt co)....or ORE could propose that your resort exchange your deed(s) for an equivelent "MROP" ownership.


Hope that helps.
Hat

 

[Hatrack]

Anyown familiar with this vacation club? The small vacation club that I currently belong to, is considering merging with ORE and so I'm trying to learn about the program. Good or bad.

So, Kats......what TS Club do you currently own...that's considering merging w/ ORE (or is it MROP)?

 

[derb]

Most of their resorts are standard quality. They do have a presence in Hi and Jackson Hole. MFs are reasonable in the 375 range, at least for Ore St George. I have been satisfied with them.

 

[bogey21]

I have been an ORE member for about 4 years now through ownership at Sweetwater Lift Lodge. I am very pleased. Maintenance Fees are reasonable. I have exchanged internally with them; I have deposited my Lift Lodge Week with RCI; and I have exchanged internally and then deposited the new week with RCI. In every case the transaction went smoothly.

At first it takes a little while to understand how their system works but once you get it down it is easy to manage. The Members Only website allows you to search on-line but you then have to call to make the exchange.

On a scale of 1 to 10 with 10 being high, I'd rate them an easy 8+ or 9.

GEORGE

 

[katsgarden]

Read more about ORE here:

www.ore-inc.com

I'd recommend reading the "history of ORE" page, the MROP program discription and the description of 'annual scheduling process". You'll also find the list of 50 or 60 resorts, photos.

ORE is a management company born out of the bankruptcy of Sweetwater timeshare developer. I like the fact that 13 desperate home owners' associations formed the not-for-profit type management company called ORE. They've since grown that business into managing 50 or 60 resorts. They've implemented an internal ORE Exchange program among the 35000 or so TS owners at those resorts....kind of like a miniature RCI/II. But no annual fees and just ~$70 to exchange. ORE also offers 'bonus time' for short notice vacancies they may have.

Along the way, ORE placed various timeshare weeks from the various resorts into a floating 'club-like' Homeowners' Associaiton called MultiResort Ownership Program (MROP). You can thus get a "always red" or a 'rotating red/white/blue" floating week of TS ownership in MROP. Each May, you enter the computerized annual scheduling program, select your desired week/destination(s) and 2nd/3rd/4th....20th choices and see if you get alloted those weeks by the prioritized/scheduling software. If not, MROP owners can search the online availablilty and trade within the ORE exchange. Your individual resort may be RCI and/or II affiliated in addition to the ORE exchange option.

I own a MROP Red week. I've gotten Christmas/NewYears at ski destinations 3 yrs in a row! I'm happy w/ my modest investment in MROP. I have access to 7000 TS Weeks of various unit sizes in the 60 locations....it's like I own a "floating red week"....except it also "floats as to location" as well as the week/unit. (I also own Worldmark "Points system" timeshare. MROP has some of that points-like flexiblity, except that you're fixed to weekly stays. WM is 'goldcrown/5star" and MROP is 'standard', for the most part).

Most of the ORE-managed resorts are modest/standard and a little older. But ORE is well run. Folks are happy w/ their management. M/F tend to be lower. The MROP program has around $400/yr M/F for a 2br/red.....a weighted average of the ~7000 TS weeks in the pool. MROP also transfers for just $85 (no deed to record.....a membership in a 'club-like' entitiy that holds the deeds.)

I"ve read where ORE has won the management contract for other resorts in the past 3 years that I've owned.....they could either add the resort to the list of conventional resorts, and those owners could join along in the ORE exchange (and little else change besides the mgmt co)....or ORE could propose that your resort exchange your deed(s) for an equivelent "MROP" ownership.


Hope that helps.
Hat

Thanks for the great info Hat! I'm going to be studying it pretty close to see if I can figure it out.

 

[katsgarden]

So, Kats......what TS Club do you currently own...that's considering merging w/ ORE (or is it MROP)?

The vacation club that I am referring to is Resorts West Vacation Club (that I purchased several years ago). This club oversold itself, lost some resorts and practically went away, leaving lots of very unhappy owners. The club struggled to stay afloat and finally got itself turned around, after Pahio Resorts took over the management. Now, apparently, there is a merger on the table between Resorts West Vacation Club and MROP (ORE). We will be voting on it next month. I'm not sure what this means to Pahio, other than, most likely they will be out of the picture. That is the one negative that I can see, as we had use of several of the units at the Pahio KBV...which we were able to use or bank a unit and trade within RCI. My membership is very minimal. From what I can tell, I would be considered a "blue" membership..so, not sure what that gets.

I also am a Worldmark member and I can see some similarities.

 

[Hatrack]

Kats.

I confess, I'm a little dense on this one. I too am holding an election ballot. (thought it was just my annual M/F bill). MROP owners also are asked to vote about the merger with RWVC club.

Looks like MROP would grow by ~10%, adding your new 8 resorts.

Hat