Tweet
For the record, DRI sales was telling prospects that, if they purchased, they would be exempt from the SA owners were voting on. This was the first attempt to get the SA passed but failed.
So the assumption that the sales team passes the SA off to new prospects as a short term item that goes unnoticed may not be entirely true. They may not be subjecting new owners to the SA at all.
Marriott has some pretty darn high MF's but, they keep putting larger amounts into the reserve fund. Hilton has MF's lower than Polo Towers and put's 3X as much into their reserve.
Our Branson ownerships are in the same boat as many timeshares. Included in our MF billing last year was a letter from the new management company (Southwind) that reserves were not sufficient for size resorts we own at. In so many words it was a forewarning that MF's were going to jump with the next billing. As much as I hate paying more money I agree completely. Both resorts put in approx. what Polo Towers has been collecting and I consider that amount not nearly enough.
Of course, Marriott and Hilton are not exempt from SA's either. HGVC Flamingo recently had a small SA for remodling, our Ocean Pointe unit required an SA a couple of years ago due to hurricane damage and there have been issues with HOA's and Marriott management's demands that have led to some resorts giving up the Marriott name.
So the assumption that the sales team passes the SA off to new prospects as a short term item that goes unnoticed may not be entirely true. They may not be subjecting new owners to the SA at all.
Marriott has some pretty darn high MF's but, they keep putting larger amounts into the reserve fund. Hilton has MF's lower than Polo Towers and put's 3X as much into their reserve.
Our Branson ownerships are in the same boat as many timeshares. Included in our MF billing last year was a letter from the new management company (Southwind) that reserves were not sufficient for size resorts we own at. In so many words it was a forewarning that MF's were going to jump with the next billing. As much as I hate paying more money I agree completely. Both resorts put in approx. what Polo Towers has been collecting and I consider that amount not nearly enough.
Of course, Marriott and Hilton are not exempt from SA's either. HGVC Flamingo recently had a small SA for remodling, our Ocean Pointe unit required an SA a couple of years ago due to hurricane damage and there have been issues with HOA's and Marriott management's demands that have led to some resorts giving up the Marriott name.
Comment