converting weeks to DRI points-HELP!

[deb335 Junior Member Find all posts View Profile Close deb335]

We are currently weeks owners of a 4 BR lockout unit at Powhatan, and have used RCI for exchanges. We have had difficulty exchanging in the RCI system and found the resorts to be poorly maintained, and are not planning to renew our membership with RCI. We also did not convert our weeks to Sunterra points.

On that note I contacted DRI and they are "working on an offer" to convert our week to the DRI points system, but have warned me that "it will be expensive".

What should I expect to pay for this conversion, and should I barter with them, or is whatever they "offer" the bottom line?

Thanks for any help!!

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

We are currently weeks owners of a 4 BR lockout unit at Powhatan, and have used RCI for exchanges. We have had difficulty exchanging in the RCI system and found the resorts to be poorly maintained, and are not planning to renew our membership with RCI. We also did not convert our weeks to Sunterra points.

On that note I contacted DRI and they are "working on an offer" to convert our week to the DRI points system, but have warned me that "it will be expensive".

What should I expect to pay for this conversion, and should I barter with them, or is whatever they "offer" the bottom line?

Thanks for any help!!

They'll attempt to sell you more points and throw in the conversion for free. That usually runs around $5000 or more and, since it will increase your ownership, it will also likely increase your MF's. The bottom line is they can, and will if you insist, convert you unit into THE Club for $2,995.

Be aware that there are two different points systems. One is just a points based reservation system called THE Club, where you keep your deeded week but convert to a points based reservation system. There is an annual membership fee to be in THE Club. The other system is a trust based ownership where you give up your deeds for an interest in the trust. Like it's name, you'd better have a lot of trust in DRI because you're essentially signing over your voting rights to whomever controls the trust. You might like the way things are going now but remember, there were people who liked the way Sunterra did things and they no longer control those trust based ownerships.

For us, I kept my deed an only joined the points based program called THE Club. Sure DRI owns this thing now but, who knows where it will be 10 years down the line. I want my deeds in hand rather than wonder what's going to happen next if someone makes an attractive offer to DRI to buy them out.

[timeos2 Senior Member Find all posts View Profile Close timeos2]

Be careful. Don't give up your deed or voting rights

We are currently weeks owners of a 4 BR lockout unit at Powhatan, and have used RCI for exchanges. We have had difficulty exchanging in the RCI system and found the resorts to be poorly maintained, and are not planning to renew our membership with RCI. We also did not convert our weeks to Sunterra points.

On that note I contacted DRI and they are "working on an offer" to convert our week to the DRI points system, but have warned me that "it will be expensive".

What should I expect to pay for this conversion, and should I barter with them, or is whatever they "offer" the bottom line?

Thanks for any help!!

IMO you should NOT give up your deed. If they offer the points based on your deed for around $2900 then that is about as good as I have heard. If they demand your deed & that you join one of the Trusts I'd tell them NO. Remember too that you cannot resell the Points only the underlying deeded week(s) so make sure YOU will get the value out without any return on sale.

[deb335 Junior Member Find all posts View Profile Close deb335]

thanks, what about the points?

Thanks for your help, we will definitley hold on to our deed.
If we insist on the $2995 conversion, how many points should we expect to get for the 4 BR unit?
And as long as we renew our "Club" membership each year do we acquire the same number of points each year?

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Thanks for your help, we will definitley hold on to our deed.
If we insist on the $2995 conversion, how many points should we expect to get for the 4 BR unit?
And as long as we renew our "Club" membership each year do we acquire the same number of points each year?

DRI has a set number of points for each unit depending upon the season, week, unit size and resort. There should be a sticky at the top of the DRI forums and I believe you can find that information posted there as to how many points you'll be given for the week you own.

[Spence Super Moderator Find all posts View Profile Close Spence]

Thanks for your help, we will definitley hold on to our deed.
If we insist on the $2995 conversion, how many points should we expect to get for the 4 BR unit?
And as long as we renew our "Club" membership each year do we acquire the same number of points each year?

What week# do you own? Obviously Wk#5 =/= Wk#26.

[deb335 Junior Member Find all posts View Profile Close deb335]

week #22

We own week #22, Saturday check-in.

[Spence Super Moderator Find all posts View Profile Close Spence]

We own week #22, Saturday check-in.

Wk#22 is 'High' season, not 'Peak'-holiday; you will get 11,000 points for this week. As others have indicated, you may get confused by their offers, your choice is to hold onto your deed and sign an Assignment Agreement to let THE Club have your time in exchange for 11Kpts or they may offer to give you 11,000 points in the Trust instead. It gets further confused if they force you to buy more points to convert, you shouldn't have to, but things to remember are that in addition to the Trust's annual maintenance fee which they'll quote as $0.104/pt, there is an annual base fee (~$200) that is the same no matter how many/few points you have in the Trust. Also remember that either way there is an annual Club fee of ~$235.

[deb335 Junior Member Find all posts View Profile Close deb335]

using points

Thanks, everyone has been REALLY helpful. I feel like I will be ready now to talk to Zach( the DRI rep) on Monday.
Just a couple more questions for now-
1. Are the points given for the calendar year, or are they for the year beginning and ending with your week #. That is, would my 2010 points be usable from Jan-Dec , 2010 or from week#22, 2010 - week#22, 2011? What window of time do we have to use the points?
2. If we decide to join DRI, should we pay our m/f for 2010 now and get those weeks into the system? Our 2009 weeks are already banked with
RCI.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Thanks, everyone has been REALLY helpful. I feel like I will be ready now to talk to Zach( the DRI rep) on Monday.
Just a couple more questions for now-
1. Are the points given for the calendar year, or are they for the year beginning and ending with your week #. That is, would my 2010 points be usable from Jan-Dec , 2010 or from week#22, 2010 - week#22, 2011? What window of time do we have to use the points?
2. If we decide to join DRI, should we pay our m/f for 2010 now and get those weeks into the system? Our 2009 weeks are already banked with
RCI.

1. Points are for the calander year. As I understand it, you have from January 1st to January 31st to use them. You can save one years points into next year so long as it's by the cut of date. Without looking, I'm not 100% certain what that date is but I believe it's either the first of June or the last of June.

2. That's up to you. I guess it depends on if you're going to want to use them to make an exchange before next year. Personally, I'm waiting until I'm ready to do something with those points before I pay MF's in advance.

Week 22 should convert to 11,000 points if it's a 4 bedroom unit or 13,000 points if it's a 4 bedroom deluxe unit if I'm reading the points chart correctly.

[dwmantz Senior Member Find all posts View Profile Close dwmantz]

It's highly unlikely that he has a 4BR deluxe deed.

I believe they stopped selling deeded weeks before the Deluxe Units came online last year.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

It's highly unlikely that he has a 4BR deluxe deed.

I believe they stopped selling deeded weeks before the Deluxe Units came online last year.

You may be right. I don't know anything about how Powhattan was set up or how it was sold.

[Spence Super Moderator Find all posts View Profile Close Spence]

If we decide to join DRI, should we pay our m/f for 2010 now and get those weeks into the system? Our 2009 weeks are already banked with
RCI.

If you join THE Club, your 2010 weeks will be automatically 'in the system.' If you want to use THE Club for 2009 reservations, they will require you to pre-pay maintenance fees. If you want to use the 2010 points for 2010 reservations you do not have to pre-pay.

[Spence Super Moderator Find all posts View Profile Close Spence]

1. Points are for the calander year. As I understand it, you have from January 1st to January 31st to use them. You can save one years points into next year so long as it's by the cut of date. Without looking, I'm not 100% certain what that date is but I believe it's either the first of June or the last of June.

2. That's up to you. I guess it depends on if you're going to want to use them to make an exchange before next year. Personally, I'm waiting until I'm ready to do something with those points before I pay MF's in advance.

Week 22 should convert to 11,000 points if it's a 4 bedroom unit or 13,000 points if it's a 4 bedroom deluxe unit if I'm reading the points chart correctly.

It's highly unlikely that he has a 4BR deluxe deed.

I believe they stopped selling deeded weeks before the Deluxe Units came online last year.

You may be right. I don't know anything about how Powhattan was set up or how it was sold.

As usual, dwmantz is right. Any new sales such as the new construction deluxe units at Powhatan are never sold as deeds. Sunterra and now DRI puts all new construction since the inception of the Trusts, into the Trusts. This gives the developer ultimate, permanent control and extra profits. Read back postings on the subject.

[Ryne08 Senior Member Find all posts View Profile Close Ryne08]

Is DRI CEO, still monitoring this web site on how to improve the overall operation of all Diamond Resorts ?