Ritz Destination Club reservations/inventory availability

[JohnB]

I can see the MVCI property inventory opening up generally consistent with my understanding of when it should be released. I haven't figured out the Ritz properties yet. For example, the Aspen location is showing no individual dates during the second quarter of 2016 except for some April dates right after the ski slopes shut down in April. Nothing showing for the summer. Other Ritz locations do show availability during the same period. Any general words of wisdom or principles as to predicting when certain weeks or months will see inventory? Am I doing something wrong in my searches?

 

[Zermatt]

I'd imagine that somewhere in the governing documents for The Ritz-Carlton Club is some perfunctory language - - perhaps, hocus pocus - - about when the managers of The Ritz-Carlton Club are obligated to release inventory, and at what thresholds. There may also be language to that effect in the governing documents for the MVW Destination Club.

 

[rparvaresh]

I'm a RCDC member and I paid over 235k for a one bedroom in San Fransisco for 21 allocated days per year, and I'm having a hard time making reservations. I'm having to surrender my deed back to RCDC for free to avoid the future life time annual membership. Let this be a lesson to all those thinking about buying a fractional ownership with Ritz-Carlton which is nothing but a glorified timeshare.
It's the worst investment decision I have ever made. I would like to say shame on Ritz-Carlton destination club, but shame on me for falling into a false marketing scheme and trusting the name "Ritz-Carlton".
[I'm sorry, but ads are not permitted in the TUG public forums. Please see the TUG Posting Rules. <--- SueDonJ]
For those of you who are thinking of buying into Ritz-Carlton fractional ownership, please let my shame be a lesson to you all. After all, if as a Marriott's time share owners you are able to use Ritz Carlton destination clubs, why would you buy a Ritz-Carlton fractional ownership when you can join RCDC at a fraction of what it costs by buying a Marriott timeshare and use Ritz-Carlton destination clubs? Then again, your choices are limited since more and more Ritz clubs decided to disassociate themselves as a club and part away leaving the members with less choices.
If there are more members like me out there who think I'm making a wrong decision and there is a chance I'll be able to recover part of my original investment, please let me know.
Currently, I've been given the option to deed-back my share to Ritz Carlton destination club for free and walk away. This walk away option is costing me $235,000.00 as part of a settlement agreement giving the members the choice to surrender their share for free. I guess even Ritz-Carlton destination club sees no value in its fractional ownership while it is still trying to market more timeshare under "fractional ownership". The only thing you will end up owning is a life time commitment of membership and property tax when your property is valued at $0.00. If it had any value, you would think they would offer you something to deed-back your share back to them.
If you are reading this and thinking about buying into a Ritz-Carlton fractional ownership, just think very hard, and if you are still interested; think about a life time commitment of $18,000.00 per year which you cannot walk away from for as long as you own a fraction of the property you are buying.
Yes, everything I said is true.
I know, "unbelievable".........



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[bazzap]

Your experience is a very disappointing one and I am sorry to hear it.
I know other RCDC owners have also expressed serious concerns.
I have though read of others who seem to be quite positive and have had good success both in using their RCDC resorts in the way they wanted and in embracing the MVC DC Points programme.
Hopefully, some will respond here on TUG with their experiences and thoughts on how best to either get the best results out of the Ritz-Calton fractional ownership or if you still see no way forward how best to unload it with the best return.
It may also be worth checking out some of the Facebook Owners Group pages where other RCDC owners have posted their experiences post MVC acquisition.
Good luck.

 

[Zermatt]

I'm a RCDC member and I paid over 235k for a one bedroom in San Fransisco for 21 allocated days per year, and I'm having a hard time making reservations. I'm having to surrender my deed back to RCDC for free to avoid the future life time annual membership. Let this be a lesson to all those thinking about buying a fractional ownership with Ritz-Carlton which is nothing but a glorified timeshare.
It's the worst investment decision I have ever made. I would like to say shame on Ritz-Carlton destination club, but shame on me for falling into a false marketing scheme and trusting the name "Ritz-Carlton".
[I'm sorry, but ads are not permitted in the TUG public forums. Please see the TUG Posting Rules. <--- SueDonJ]
For those of you who are thinking of buying into Ritz-Carlton fractional ownership, please let my shame be a lesson to you all. After all, if as a Marriott's time share owners you are able to use Ritz Carlton destination clubs, why would you buy a Ritz-Carlton fractional ownership when you can join RCDC at a fraction of what it costs by buying a Marriott timeshare and use Ritz-Carlton destination clubs? Then again, your choices are limited since more and more Ritz clubs decided to disassociate themselves as a club and part away leaving the members with less choices.
If there are more members like me out there who think I'm making a wrong decision and there is a chance I'll be able to recover part of my original investment, please let me know.
Currently, I've been given the option to deed-back my share to Ritz Carlton destination club for free and walk away. This walk away option is costing me $235,000.00 as part of a settlement agreement giving the members the choice to surrender their share for free. I guess even Ritz-Carlton destination club sees no value in its fractional ownership while it is still trying to market more timeshare under "fractional ownership". The only thing you will end up owning is a life time commitment of membership and property tax when your property is valued at $0.00. If it had any value, you would think they would offer you something to deed-back your share back to them.
If you are reading this and thinking about buying into a Ritz-Carlton fractional ownership, just think very hard, and if you are still interested; think about a life time commitment of $18,000.00 per year which you cannot walk away from for as long as you own a fraction of the property you are buying.
Yes, everything I said is true.
I know, "unbelievable".........



Sent from my iPhone using Tapatalk

Regretfully, your experience has been described by others.

Before you throw in the towel, and give your interest to Marriott Vacation Club, I suggest you consider doing the following:

(1) Use public records to identify the whole ownership residence owners at The Ritz-Carlton Club, San Francisco, and send them a letter offering your fractional interest for sale at some bargain price, and with buyer-favorable terms. In the past, many whole ownership residence owners at The Ritz-Carlton Club, San Francisco used a fractional interest or two as their Guest House, when they entertained guests;

(2) Do the same as above, but this time, access public records to identify the names and addresses of the existing fractional owners, and send them a letter offering your interest for sale at some bargain price, and as said above, with buyer-favorable terms;

(3) Be creative - - more creative than a non-creative Realtor - - and think of unique populations that would want a Pied-à-terre at a great location in San Francisco. For example, workaholics in area law firms, accounting firms, etc., and market to them.

There is no doubt in my mind that there are a number of Ritz-Carlton Club Members who are happy with their membership. So, in my opinion, they are your target market.

In my opinion, the former San Francisco Chronicle building, turned Ritz-Carlton Club, San Francisco is a beautiful building, in a great location, that is well run (for a premium, "luxury tier" price). For the right person, Membership in SFO may make sense. I think time has proven that the breadth of the umbrella, of "right people, prospective Members" is smaller than envisioned, hence, the need to target your marketing and market smart.

Oh, one final idea: there could be existing Members at Ritz-Carlton Clubs in Lake Tahoe, Aspen, or Vail, who would love to add an additional RCDC interest to their RCDC portfolio, at a bargain price. You might want to identify the Realtors - - who are non Ritz-Carlton Club employees - - who are brokering resales at those clubs, to see if they can help you sell your interest in San Francisco.

 

[Zermatt]

Another idea:

Market your SFO membership interest to existing unit owners at Ritz-Carlton Residences (residential division). Again, you would have to use public records (deeds or property tax records) to obtain their names and addresses.

Here is a list of Ritz-Carlton Residence locations:

http://www.ritzcarlton.com/en/Locations/Default.htm

One thing that is known about the universe of Ritz-Carlton Residence owners, is that they are loyal to and predisposed to The Ritz-Carlton brand. You may very well find someone in the universe of Ritz-Carlton Residence owners who would like a pied-à-terre in San Francisco.

 

[Padad]

I'm a RCDC member and I paid over 235k for a one bedroom in San Fransisco for 21 allocated days per year, and I'm having a hard time making reservations. I'm having to surrender my deed back to RCDC for free to avoid the future life time annual membership. Let this be a lesson to all those thinking about buying a fractional ownership with Ritz-Carlton which is nothing but a glorified timeshare.
It's the worst investment decision I have ever made. I would like to say shame on Ritz-Carlton destination club, but shame on me for falling into a false marketing scheme and trusting the name "Ritz-Carlton".
[I'm sorry, but ads are not permitted in the TUG public forums. Please see the TUG Posting Rules. <--- SueDonJ]
For those of you who are thinking of buying into Ritz-Carlton fractional ownership, please let my shame be a lesson to you all. After all, if as a Marriott's time share owners you are able to use Ritz Carlton destination clubs, why would you buy a Ritz-Carlton fractional ownership when you can join RCDC at a fraction of what it costs by buying a Marriott timeshare and use Ritz-Carlton destination clubs? Then again, your choices are limited since more and more Ritz clubs decided to disassociate themselves as a club and part away leaving the members with less choices.
If there are more members like me out there who think I'm making a wrong decision and there is a chance I'll be able to recover part of my original investment, please let me know.
Currently, I've been given the option to deed-back my share to Ritz Carlton destination club for free and walk away. This walk away option is costing me $235,000.00 as part of a settlement agreement giving the members the choice to surrender their share for free. I guess even Ritz-Carlton destination club sees no value in its fractional ownership while it is still trying to market more timeshare under "fractional ownership". The only thing you will end up owning is a life time commitment of membership and property tax when your property is valued at $0.00. If it had any value, you would think they would offer you something to deed-back your share back to them.
If you are reading this and thinking about buying into a Ritz-Carlton fractional ownership, just think very hard, and if you are still interested; think about a life time commitment of $18,000.00 per year which you cannot walk away from for as long as you own a fraction of the property you are buying.
Yes, everything I said is true.
I know, "unbelievable".........



Sent from my iPhone using Tapatalk

I'd be interested in your opinion of the RC fractional ownership if you had not paid $235k (I.e. Bought on the secondary market for say $10k). We've been thinking about buying into RC in St Thomas, but only a distressed interest ($5-10k). But the lifetime of maintenance fees it what is having us hesitate.