RVI Holiday Club

[redtailriser]

I would be interested in knowing whether any TUG members or guests are also members of the RVI Holiday Club which was once managed by Fairmont Resort Properties and is now managed by Northwynd Resort Properties, and if they have attended the meetings that are now being held in eastern Ontario.

At these meetings, the representatives (Customer Relations, RVI Holiday Club/Northwynd Resort Properties) present a proposal whereby RVI members transfer their rights under their Prepaid Vacation Membership Agreement back to the Resort for no monetary value. Following this transfer, the former member of RVI will then purchase RCI points from a resort managed by Lorwynd Resort Properties Ltd.

The cost of the points will be as follows:
30,000 pts - 2450.00 + 12%HST + 250.00 closing costs - mtnc of 450.00/yr.
60,000 pts - 3450.00 + 12%HST + 250.00 closing costs - mtnc of 702.00/yr.
100,000 pts - 4950.00 + HST + 250.00 closing costs with mtnc of 1036.00/yr. First year RCI membership will be free, and 2012 maintenance fee will be paid by the resort.

In your opinion, is this a good deal or a bad one? Thank-you.

 

[gnorth16]

Interesting proposal. I am not directly affected by it,but I do have one question.

Would this be a seemless transaction or could an owner give it back and then refuse to pay the fee leaving the resort with the timeshare?

If you are looking for RCI points, they can be had at a much better price. If you can turn it in and walk away, financially it makes more sense, unless there is a perk (prime weeks) at the resorts.

There must be a website/letters sent to owners with the alternatives. It is morally wrong if they give you option A, but not option B if it is available.

I see you would already have access to RCI weeks, so I would try and get out, or at the least, not enroll in RCI points.

 

[mrpickle]

The cost of the points will be as follows:
30,000 pts - 2450.00 + 12%HST + 250.00 closing costs - mtnc of 450.00/yr.
60,000 pts - 3450.00 + 12%HST + 250.00 closing costs - mtnc of 702.00/yr.
100,000 pts - 4950.00 + HST + 250.00 closing costs with mtnc of 1036.00/yr. First year RCI membership will be free, and 2012 maintenance fee will be paid by the resort.

In your opinion, is this a good deal or a bad one? Thank-you.

I agree; If you can give it back and not buy points from them would be the best option!
You can get cheaper and lower maintenance fees per 1000 points on ebay
Just an example: http://www.ebay.com/itm/ws/eBayISAPI.dll?ViewItem&item=230696122565

Just divide the maintenance fee by number of 1000 points in the ebay example 1252/124 = 10.09 as apposed to

450/30 = 15.00
702/60 = 11.7
1036/100 = 10.36

Ken