I think you are right. I remember signing something that it wasn't supposed of as an investment. And I took that the same way you see it. To protect Wyndham. I would say "you may not have sold it as an investment, but I bought it as an investment" if I was to fail in my rental business I understood that it wasn't wyndhams fault
However the disclosures in the back of the directory are more direct and perfectly clear. The product is for personal use, no commercial use allowed
So Wyndham chose to look the other way, or I was able to stay under their radar, or maybe my crystal ball has just started working. But I believe that they are going to get serious about that "no commercial use" clause in the disclosures
Times; they are a changing
I agree with you. Plus there is always a bigger picture that we may only catch a glimpse of by our pooling of information, conjecture and reading between the lines.
I too think that it is very likely that owners who are primarily commercial renters will find themselves faced with changes that will impact their ability to rent or make it profitable. I think Wyndham intends to do something and has wanted to do it for a few years now. But that they haven't yet leads me to believe there are some considerations/consequences that they haven't yet figured a way around. It doesn't mean that they won't; just that it might take them awhile longer to do it.
Those of us who spent the money to buy a significant number of developer points from Fairfield and/or Wyndham certainly would like to be reassured that Wyndham isn't making changes to the VIP program or other changes that will in effect devalue the worth of our ownership to us. I truly believe that if Wyndham is foolish enough to make changes that comprise the worth of the VIP program in the owners opinion that they might as well cut their sales staff by 90% or even more immediately.
How is Wyndham going to justify owners turning reservations over to Extra Holidays which most certainly can be construed as commercial renting. I would think a good group of attorneys could make a case and might even possibly ask for and be granted an injunction to prohibit Extra Holiday rentals while a suit is ongoing. I have no idea if they would even stand a chance of winning if it actually went to court and realize it would most likely be settled out of court. Wyndham is at a distinct disadvantage right now as they have been getting a lot of unfavorable notice with the public, States attorneys and courts. They also have invested a lot in the Extra Holidays program.
I can't begin to guess at how many hundreds of millions, probably even billions, of points are owned/handled by the mega renters and point managers. Is Wyndham in the financial position of being able to take them all back through Ovations, settlement or default? Perhaps at this time the mega renter/points manager relationship is more symbiotic than Wyndham likes to admit even to themselves. If the market were to be flooded with resales would there be more articles on financial sites and publications questioning Wyndhams stability? Negative publicity, legal and financial, unhappy owners, lower stock prices, etc. all impact sales.
In fact cutting their sales staff to a minimal number of people and perhaps putting them permanently on salary would be my first suggestion to Wyndham. I truly believe they have a good product but the predatory and aggressive salespeople and sales tactics screams that Wyndham thinks so little of the worth of what they are selling that they have to con, coerce, deceive and badger people into buying it. It has become a viscous cycle. The more they drive people away with their sales tactics the more desperate and underhanded the sales people become which in turn drives even more people away. When they do make a sale, people are usually to varying degrees dissatisfied with their purchase when they find out how much of what their sales person told them was lies. And sooner or later they always do find out.
You used the quote: "Times they are a changing." The old leadership has continued to do business as they have always done it instead of adapting and changing with the times. Maybe the new leadership will be smart enough to see what any of us can tell them; what they are doing isn't working! Stop trying variations of the same old thing where nothing truly changes, scrap your sales program entirely and start over with a totally new and different approach to sales. Wyndham doesn't have much to lose and a great deal to gain by doing that because Wyndham is walking a very fine line these days. Unless they make some sweeping changes Wyndham is in very real danger of making the name Wyndham a byword for everything that is wrong with the timeshare industry.