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Press Release - Wyndham Timeshare Owners Outraged

wyndhamrental

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http://www.prlog.org/10157831-wyndham-timeshare-owners-outraged.html

Wyndham Timeshare Owners Outraged!
Wyndham timeshare owners by the thousands are in an uproar over recent changes made to their timeshare ownership.

FOR IMMEDIATE RELEASE
PRLog (Press Release) – Dec 19, 2008 – Wyndham Corporation, one of the world's largest in the hospitality industry, considered to be a leader in timeshare sales, has outraged owners, as indicated in countless forums and blogs across the internet, with recent changes to their ownership. To understand the changes and why owners are so upset one must understand how the Wyndham system works.

When someone buys their timeshare from Wyndham they receive a deed for the portion of the property they purchased. The value of their ownership, however, is represented by points. The more timeshare interest one buys the more points that are allocated to their account. The points allocated to ones account can be used to book a reservation at any Wyndham resort. This seems to be a good concept as it creates flexibility that enables an owner to use his vacation at many locations and times without being locked into the traditional fixed week at one resort.

A sales tool that has long been used to entice owners to a higher level of ownership, thus creating ongoing sales to existing owners , is their VIP program. The VIP program has three levels, VIP, VIP Gold, and VIP Platinum. Each level offers significant benefits not available at the level below, enticing owners to purchase up to the next level of ownership. It is with regard to the VIP benefits owners were sold that now leaves many feeling betrayed by the company enticing them to buy.

Over the past months, as many relate, Wyndham has "systematically eliminated" VIP benefits on which owners were sold. For example, a benefit promised to VIP Platinum owners has been unlimited free guest certificates. Rather than paying the customary fee of $25 to add a guest's name onto a reservation a VIP Platinum owner received an unlimited number of these certificates free. However, it was recently announced that VIP Platinum owners would no longer receive an unlimited number of free certificates. Instead they receive 15 per million points owned and following use of the allotted certificates will pay, what many consider an exorbitant, fee of $129. If an owner logs into Wyndham's website they may enter their guests name and receive a guest certificate at the reduced rate of $99 per certificate.

In addition to the foregoing, what seems to be the proverbial "straw that broke the camel's back" is the elimination of what is referred to in each owner's Trust Agreement as a "right". It has long been the "right" of every owner to sell or transfer his or her points to another owner if, for some reason, they were not going to be able to use them before they expired at year end, provided each owner's account is in good standing. This provision has proven to be very much appreciated by owners as it allows an owner who would otherwise lose the value of their unused vacation ownership to at least receive some compensation from another owner who may be able to put the points to use.

The following comment is representative of numerous comments found across the internet: "I have often told people that although it was expensive to purchase, I really enjoyed my ownership, but no more. I will tell every guest I meet at my 6 weeks of Wyndham vacations a year, to run not walk away from the the purchase. How can they possibly expect to sell this crappy program anymore to anybody? There aren't that many
suckers left in the world to buy this program with all the benefits stripped away." Frustration indeed!

Wyndham's problems, however, do not seem to be limited to their timeshare owners. The following was reported just this week in the Orlando Sentinel:

"DAYTONA BEACH, Fla. - Wyndham Vacation Resorts faces a new lawsuit over allegations of financial mismanagement at the Ocean Walk Resort in Daytona Beach.

The Ocean Walk Resort Condominium Association filed on Tuesday a lengthy civil suit, listing 50 counts over how the beachfront condominium towers were managed during the past several years.

According to the suit, filed in circuit court in Volusia County, Wyndham manages time-share units in both towers of the Ocean Walk complex, but the condo association claims that Wyndham misused money, shortchanged the association and hasn't relinquished control of the accounts.

The companies are already in litigation over other contractual disputes."

Perhaps the best advice for anyone looking to buy a timeshare is do your due diligence.

http://www.prlog.org/10157831-wyndham-timeshare-owners-outraged.html

The above was emailed to me last Friday from a Wyndham owner but I haven't seen reference to it either here or on the other Wyndham owners' websites and thought others would enjoy knowing about this hyperlink also. Kendra
 

Mike21222

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Ocean Walk Condominium Association

How do I get more information on this Ocean Walk lawsuit? :eek:
 

DeniseM

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Goofyhobbie

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Folks,

The link that the OP intended to provide is dated.

The issues presented then were highly discussed when the original press release was made in December, 2008 and the bitching continues.

Unfortunately, the reasons for that article are now old news although many Wyndham Owners (especially "Mega Renters") continue to be upset.

It is sad that Wyndham chose to take away perfectly good benefits such as the right to transfer points between owners. But, there reason for doing so was directly targeted at the "Mega Renters" who were LEGALLY able to book and rent some great properties because the Trust Agreement and the Wyndham Directory allowed such transactions.

It is always unfortunate when the rights of all Wyndham Point Owners are taken away because a very few are perceived to be abusing the right.

Some individuals literally bought into the idea that they could make an excellent living by offering to purchase millions of points from other Wyndham Owners who chose to sell their rights. What the "Mega Renters" were doing and why they did it was openly promoted by Wyndham Marketing. To get themselves to VIP Platinum those "Mega Renters" invested some big bucks to get there respective foot firmly in the door and they worked hard to build their business ventures.

However, to cripple those business enterprises, Wyndham chose to take the right to transfer points from all points owners and to drastically limit the number of Guest Certificates any owner could get for Free. Then to add further insult to the "Mega Renters," and literally thousands of average VIP owners Wyndham also dramatically raised the cost of Guest Certificates to any owner who ran out of Free Certificates.

Wyndham in effect took away several VIP benefits that had been promised at the time of sale and Wyndham can and no doubt will continue to errode VIP benefits that Wyndham deems to be interfering with Wyndham's own Rental Business.

I personally can understand why Wyndham did what it did and I can understand why a few folks worked the system that was available.

If you are new to Wyndham or considering Wyndham Points ownership be aware that what is promised, especially by sales people, can be taken away.

Do your due diligence and buy the product with your eyes wide open.

Meanwhile, the lawsuit mentioned by the OP having to do with Wyndham Oceanwalk also made the news back in December 2008; but as Vacationhopeful has noted it is just now really getting interesting.

For those of you who want to know more about the Wyndham Oceanwalk issues here are some links:


Posted: 10:04 AM Dec 10, 2008: Daytona condo association sues Wyndham


Ocean Walk, Daytona Beach email notice from Wyndham Vacation Resorts
 
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