• A few of the most common links here on the forums for newbies and guests!
  • The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!
  • The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!

Status of Riviera Oaks Resort

Z

Zephyr88

newbie
Joined
Nov 28, 2013
Messages
68
Reaction score
0
DRI recently acquired the Riviera Oaks Resort in San Diego county as part of the Monarch Grand Vacation Resorts acquisition. Has anyone heard what they have planned for the resort? Will they keep it? Have they taken over the board? Any plans to raise maintenance fees or levy a special assessment? Anyone have any information about what's going on with the resort??
 
Last edited:
They raised the MF's on my annual two bedroom by $53.23 in 2013.
In 2014 they have raised another $163.95. They justified this last raise by saying they were removing rental income from the balance sheet, thereby raising the MF's needed from owners. This ploy was never revealed until I received my annual fees notice. It's obvious they now control the HOA.

The resort under DRI is a shadow of what it was under Monarch. It seems more like a motel.
 
acereichert said:
They raised the MF's on my annual two bedroom by $53.23 in 2013.
In 2014 they have raised another $163.95. They justified this last raise by saying they were removing rental income from the balance sheet, thereby raising the MF's needed from owners. This ploy was never revealed until I received my annual fees notice. It's obvious they now control the HOA.

The resort under DRI is a shadow of what it was under Monarch. It seems more like a motel.
Click to expand...

I don't recall that resort being in great shape before DRI took over. I am sure they will refurbish the units as they are in need of it from things I have read.
 
acereichert said:
They raised the MF's on my annual two bedroom by $53.23 in 2013.
In 2014 they have raised another $163.95. They justified this last raise by saying they were removing rental income from the balance sheet, thereby raising the MF's needed from owners. This ploy was never revealed until I received my annual fees notice. It's obvious they now control the HOA.

The resort under DRI is a shadow of what it was under Monarch. It seems more like a motel.
Click to expand...

Yes, there was a 20% increase in maintenance fees for 2014. And, yes, the Board is now controlled by DRI. The DRI Board eliminated the rental revenue subsidy, as they believe (in their infinite wisdom) that the resort needs to operate based solely on fees paid by its owners.

Annual meetings are no longer held at the resort, but at DRI headquarters in Las Vegas.

The Board also approved $758,000 expenditures for replacing sofa sleepers, bedding, draperies, large appliances, toilets, carpeting, upgrading flat panel televisions, new pool furniture, complimentary Wi-Fi, HVAC unit replacements, and tennis court resurfacing.

And of course, DRI is also now the Management Company for the resort, and takes its cut of 20% off the top of all maintenance fees. :D
 
Isn't rental income due to the HOA, not something to be skimmed from the top by the hired help (the management company), which is what DRI really bought, the management contract
 
Rent_Share said:
Isn't rental income due to the HOA, not something to be skimmed from the top by the hired help (the management company), which is what DRI really bought, the management contract
Click to expand...

Actually, the revenue subsidy came from rental fees previously paid by guests which are now complimentary. Things like WiFi, fire logs for the fireplace, bicycle and movie checkouts. The owners now pick up those costs.

But you're right, DRI defintely makes a nice profit by designating itself the Management Company and not putting out for bid. Because they control the Board, they can get away with it.:annoyed:
 
You must log in or register to reply here.
Top