Decided not to convert

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

I suppose my biggest concern is if what they say about reduced flexibility of reservations for weeks owners in the future is correct. They told me that 80% of the Ridge owners have converted. I have called the weeks reservation person & she was not able to confirm or deny this.
The deal I signed on Tues. for $5200 would give me 8,000 pts. in the Club (6500 for the 1BR assignment + an extra 1500 pts) with a MF of 1100 that I think includes everything + the ability to pay $119/yr to bring my Australian resort in for an additional 8500 pts/yr. If I understand you correctly, the 8500 pts. for the Aus. TS will not count towards elite status.
BTW, out of curiosity, I did a short time search w. RCI pts. for AZ & HI & came up w. a 1BR at the Ridge (6/5-6/12) for 7500 pts. & a 2BR at Paniolo Greens in Waikola, HI (5/16-5/23) for 9,000 pts.
I'm having a hard time justifying the $1100/yr MF for 8,000 pts. Need to do more math.
Thanks.

Personally, I can't justify $1,100 for 8,000 points. At $1,100/year, you're in Marriott territory for MF's and Marriott has been considered one of the highest MF's in all of timeshareland. You'll be paying Marriott like fee's but, can you say that you're getting Marriott quality? Heck, those fee's are about $300 more than our Hilton Grand Vacation Club fee's. I just couldn't justify the expense myself. Maybe others here can but I can't.

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

They told me that 80% of the Ridge owners have converted. I have called the weeks reservation person & she was not able to confirm or deny this.
The deal I signed on Tues. for $5200 would give me 8,000 pts. in the Club (6500 for the 1BR assignment + an extra 1500 pts) with a MF of 1100 that I think includes everything + the ability to pay $119/yr to bring my Australian resort in for an additional 8500 pts/yr. If I understand you correctly, the 8500 pts. for the Aus. TS will not count towards elite status.
BTW, out of curiosity, I did a short time search w. RCI pts. for AZ & HI & came up w. a 1BR at the Ridge (6/5-6/12) for 7500 pts. & a 2BR at Paniolo Greens in Waikola, HI (5/16-5/23) for 9,000 pts.
I'm having a hard time justifying the $1100/yr MF for 8,000 pts. Need to do more math. Thanks.

• 80%, yeah, right.
• THE Club is a great product.
• A Club member who had all their points in the DRUSC Trust would be paying ~$1267, so you're below that, that's good.
• 8000 is not enough, in my opinion. I'd go back and tell them that you want the $2995 no points option, you want Club Select for your other TS, and you want the option to add one or two more DRI properties to your membership within the next 12 months, then you can add something to get you up to 15,000 and Elite status.

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

Too Few Points

• 80%, yeah, right.
• THE Club is a great product.
• A Club member who had all their points in the DRUSC Trust would be paying ~$1267, so you're below that, that's good.
• 8000 is not enough, in my opinion. I'd go back and tell them that you want the $2995 no points option, you want Club Select for your other TS, and you want the option to add one or two more DRI properties to your membership within the next 12 months, then you can add something to get you up to 15,000 and Elite status.

I agree with Spence that 8000 points is not enough. You will be very limited with 8000 points. If you look at the DRI properties and the number of points required you would have to carry over a year's worth of points to get a 2 bdrm at prime time to any place that is in high season in their collection. However, II seems to be require less DRI points for many of the timeshares. I often charges less points that DRI for higher scale properties.

8000 may be good for you if you only plan on usuing your one week and need only a one bedroom. If you are keeping it simple you will be fine.

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

DRI conversion offer

Thanks for all the advice. I did find out that the $1100 quoted MF for the 8,000 pts. includes everything, including the trust fee, II, and the Club fee. Spence, I like your suggestions, however, buying more DRI props. to get up to Elite status may not make sense for me right now. I'm not retired yet & I'm having a hard time using up all the RCI pts. I have now. I bought at the Ridge because we like the resort, got it at a very good resale price, and figured we would use it & save exchange fees. My biggest concern is if the weeks owners get squeezed out as all the inventory switches over to DRI. This hasn't happened yet; however & I got the Ridge so cheap I feel I have already recovered its value with past use.

Regards,
Tom

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

My biggest concern is if the weeks owners get squeezed out as all the inventory switches over to DRI. This hasn't happened yet; however & I got the Ridge so cheap I feel I have already recovered its value with past use. Regards, Tom

If there are say for example 200 units x 52 weeks = 10400 unit weeks and 5200 are in the Club, then half of all inventory every week goes to each faction. If now 7800 unit weeks are in the Club then only a quarter of all inventory gets allotted to weeks owners every week but there are only that many weeks owners. If you're not an early planner you may start to feel a pinch but planners will always have availability. Their ruse that weeks owners won't see anything is just that.

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

My biggest concern is if the weeks owners get squeezed out as all the inventory switches over to DRI. This hasn't happened yet; however & I got the Ridge so cheap I feel I have already recovered its value with past use.

Regards,
Tom

Never let a salesman scare you into spending money when you common sense tells you not to do it. If I had a dime for every bit of truth stretching I've been told, I'd only have to work half as much. Last year we were told by a salesman that, if we ever wanted to own another week in Branson, MO, we had better buy it now. The city enacted an new ordinance that prohibited any additional timeshares from being built and current inventory would be sold out by Nov. of 2008. We'll be in Branson tomorrow. How much do you want to bet they're still selling timeshares in Branson. When a salesman moves toward scare tacitcs to sell me a unit, I shut down and stop listening to anything else he might have to say.

Your having a really hard time validating spending this money. That should be a really strong sign this is not the right move for you. We like THE Club, find it easy to use and, our lifestyle allows us to get value out of it but, we don't return to our home resort anymore. We always exchange. If we were returing to our home resort every year I never would have dropped another $2,995 just to stay at the same place we already own. It would have been a huge waste of money IMHO.

If DRI wants everybody in one of their trusts or in THE Club, they need to drop that joiner fee down to a reasonable amount and allow all resales to be included for the same amount. Everytime someone sells a unit on the resale market, it's out of THE Club and back into the weeks program unless someone gave up their deed for a trust based ownership.

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

Should I drink the Kool-Aid or walk away?

I need someone to either tell me that the DRI Kool-Aid is good for me or tell me that it is time to cut my losses and run.

I joined DRI and "THE Club" with a "3000 points for $12,000 US" purchase at the Ridge at Sedona last year. My fees, as I understand them, are $235 for THE Club; $180 for an operational fee; and $.1004 per point x 3000 points= $301.20 maintenance fees for a total of $716.20.

Actually I was expecting about 8 cents per point, but there was an increase.

Now I have been cold called by DRI with the 'opportunity' to add another 2000 points for around $6000 (plus fees) and would receive the benefit of being able to bring in (to THE Club) another contract of up to 10,000 points within a calendar year.

Now... I have seen 10,000 point contracts out there on the resale market that I could buy for under $5000, and at 15,000 points I would receive some level of elite status.

My concerns are two-fold... one is whether the initial investments are worthwhile considering the absolute lack of resale value caused by DRI's refusal to let resale buyers in without exacting a pound of flesh, the lack of control in that DRI is private and can change the terms at any time, and the decrease from last year to this year in the value of DRI points exchanging into II; second is whether the increased carrying costs of a 15,000 point holding would be worthwhile or simply limit my ability to travel.

Initial investment would be around $23,000 ($12k (already spent) for 3k pts plus $6k for 2k pts plus $5k for 10k pts). 15,000 points would exchange into a 2BR property on II twice a year at current exchange rates.

Carrying cost on this 15,000 points would come to $235 for THE Club; $180 operational fee; and $1506 in maintenance fees for an annual cost of $1,921 before I try to use any points or exchange... assuming that nothing goes up.

Compare that to my current holdings on the RCI side...

About 83,000 annual points with maintenance fees of $279 (which will get most 2BR units for a week) plus two "weeks-type" properties (each of which will exchange for a week in another property) with maintenance fees of $200 per week.

Total investment there is about $16,000. RCI membership is $89 a year, so my annual carrying cost is $279 plus $200 plus $200 plus $89= $778

I am more comfortable with the lower "carrying costs" from RCI.

I was attracted to DRI because the sales reps were able to pull up a lot more availability from the II/DRI computers than I was able to pull up using what was then a 105,000 a year points-only membership with RCI. I don't know if that availability was "cooked" but I am not pulling much when I search with DRI/II.

What do you all think?

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

The availabilty wasn't cooked. What you saw IMHO was the difference between RCI and I.I. It's the reason I've dropped my personal RCI account and have stuck with I.I. resorts for exchanging. Fortunately, the two RCI resorts I own I use for personal usage instead of exchanging.

Is this the right thing for you to do? Only you can answer that question. But paying $5,000 on the resale market for 10,000 points is paying at least $4,000 to much. I've seen contracts go for less than $1,000 that would convert to more than 10,000 points if the resort could be brought into one of the DRI trusts. You need to shop E-bay for awhile to get a good feel for what the resale value is with DRI resorts or trust points.

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

Why Not Just Buy A Week Like This?

The availabilty wasn't cooked. What you saw IMHO was the difference between RCI and I.I. It's the reason I've dropped my personal RCI account and have stuck with I.I. resorts for exchanging. Fortunately, the two RCI resorts I own I use for personal usage instead of exchanging.

Is this the right thing for you to do? Only you can answer that question. But paying $5,000 on the resale market for 10,000 points is paying at least $4,000 to much. I've seen contracts go for less than $1,000 that would convert to more than 10,000 points if the resort could be brought into one of the DRI trusts. You need to shop E-bay for awhile to get a good feel for what the resale value is with DRI resorts or trust points.

Odd Years. THE POINT AT POIPU BEACH $102.50. Sold Apr-23-09 22:00:00 PDT on Ebay.

Just what is the KBC and The Point at Piopu really worth?

If these 2 DRI Resorts are not the Best Resorts under the DRI name, they must be in the top 10.

So it is really a good Vacation "investment" to pay $33,000 or a one time offer of $19,000 for 7000 points at the KBC like I was offered?

I think Hawaii is a very special place. I also think as MF goes up 20% each year at both Resorts (the most allowed by the State of Hawaii Law) as some people are saying, more and more Weeks Owners and Club Members will just use their Units each year. This would also mean that the pool for exchanges into the KBC and The Point at Piopu will also be smaller.

Why would you exchange out of these Resorts if the MF gets to be $2000-$2500 plus.

Will the owners just sell out when the MF gets this high? I don't see where the owners will be able to give the weeks away much less sell it because of the high MF and the cost of getting to Hawaii.

Walt

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

I Was Told To Put All My Units Into a Trust

Never let a salesman scare you into spending money when you common sense tells you not to do it. If I had a dime for every bit of truth stretching I've been told, I'd only have to work half as much. Last year we were told by a salesman that, if we ever wanted to own another week in Branson, MO, we had better buy it now. The city enacted an new ordinance that prohibited any additional timeshares from being built and current inventory would be sold out by Nov. of 2008. We'll be in Branson tomorrow. How much do you want to bet they're still selling timeshares in Branson. When a salesman moves toward scare tacitcs to sell me a unit, I shut down and stop listening to anything else he might have to say.

At my Update meeting at KBC, I was told to put my units into a Trust. The sales lady told us that her father own most of a city block in Waikiki and because he didn't put it in a Trust, her family lost it all when he died. Right

Walt

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

Odd Years. THE POINT AT POIPU BEACH $102.50. Sold Apr-23-09 22:00:00 PDT on Ebay.

Just what is the KBC and The Point at Piopu really worth?

If these 2 DRI Resorts are not the Best Resorts under the DRI name, they must be in the top 10.

So it is really a good Vacation "investment" to pay $33,000 or a one time offer of $19,000 for 7000 points at the KBC like I was offered?

I think Hawaii is a very special place. I also think as MF goes up 20% each year at both Resorts (the most allowed by the State of Hawaii Law) as some people are saying, more and more Weeks Owners and Club Members will just use their Units each year. This would also mean that the pool for exchanges into the KBC and The Point at Piopu will also be smaller.

Why would you exchange out of these Resorts if the MF gets to be $2000-$2500 plus.

Will the owners just sell out when the MF gets this high? I don't see where the owners will be able to give the weeks away much less sell it because of the high MF and the cost of getting to Hawaii.

Walt

I haven't looked lately but, I've seen Polo Towers units go for less than $100 on E-bay and those 2 bedroom units convert to 12,000 THE Club points.

Everyone's needs are different and, if it the OP needs additional points, and with only 3,000 points I'd say they need additional points to validate almost $800/year in fee's, they'll have to decide what is the best way for them to accumulate those points.

Buying strictly resale with DRI is a crap shoot. Will they let you convert resale units for the joiner fee of $2,995 or, will they force you to buy more points at developer pricing to convert them into a trust based ownership and into THE Club. It might be easier for the OP to bite the bullet, pay for a minimal amount of DRI points and then go on a resale shopping spree to get their points where they need them.

I think eveyone knows my personal feelings about DRI and their MF's. They're to high for the quality that is currently provided. However, they were the first two resorts I purchased and, I'm still getting value out of them so, I'm hanging onto them.........for now. To many more increases and I could dump them on the resale market, then turn around and buy either another Marriott or Hilton week or, I could venture into Starwood territory. It's always a personal decision and for some the flexibility and internal exchange options DRI offers is worth the price of admission.

If I had already bought in like this person has and, if I were going to try to build my points up to a usable level, buying the minimum required at developer pricing with the option to obtain another unit and get it into THE Club without paying the $2,995 joiner fee might be the easiest and/or best option.

It doesn't really matter what system you own in. Resale prices are in the tank right now. For that matter, there's always been a glut of units in the resale market largely because people buy a timeshare, don't learn how to use it or can't use it, then want to dump it just to save the yearly MF's.

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

Thanks to Doug & Spence

Your advice has been most helpful. Doug, your comments on RCI vs. II make me wonder whether I should consider switching my Sandy Pt. Australia TS out of RCI pts. & into II. I think my current assignment to RCI runs out in about a year. Is it easy to switch from RCI to II? Is the II program pts. based & would there be a big joining fee? One of the biggest sales pitches from the DRI folks was the superiority of II over RCI. It would be fun to get one of those Marriott resorts sometime to see how the rich people live, & I believe you can only do that through II.
As for DRI, I have until Tuesday to decide. I will let you know how that goes.
Thanks,
Tom

[Werner Member Find all posts View Profile Close Werner]

Tom, we have been to two Marriott's through II, most recently Aruba. You may get to see how the rich people live but you won't live like them. The units you get assigned to through II are "the dungeon" or the "the dumpster".

Werner

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

You've done your homework, only you can decide about the kool-aid. You will be able to find a large contract for much less than you think within a year if you're patient. I say go for it, but remember the 08-09 increase of 8cents to 10cents and expect another just like it for next year.

I need someone to either tell me that the DRI Kool-Aid is good for me or tell me that it is time to cut my losses and run.

I joined DRI and "THE Club" with a "3000 points for $12,000 US" purchase at the Ridge at Sedona last year. My fees, as I understand them, are $235 for THE Club; $180 for an operational fee; and $.1004 per point x 3000 points= $301.20 maintenance fees for a total of $716.20.

Actually I was expecting about 8 cents per point, but there was an increase.

Now I have been cold called by DRI with the 'opportunity' to add another 2000 points for around $6000 (plus fees) and would receive the benefit of being able to bring in (to THE Club) another contract of up to 10,000 points within a calendar year.

Now... I have seen 10,000 point contracts out there on the resale market that I could buy for under $5000, and at 15,000 points I would receive some level of elite status.

My concerns are two-fold... one is whether the initial investments are worthwhile considering the absolute lack of resale value caused by DRI's refusal to let resale buyers in without exacting a pound of flesh, the lack of control in that DRI is private and can change the terms at any time, and the decrease from last year to this year in the value of DRI points exchanging into II; second is whether the increased carrying costs of a 15,000 point holding would be worthwhile or simply limit my ability to travel.

Initial investment would be around $23,000 ($12k (already spent) for 3k pts plus $6k for 2k pts plus $5k for 10k pts). 15,000 points would exchange into a 2BR property on II twice a year at current exchange rates.

Carrying cost on this 15,000 points would come to $235 for THE Club; $180 operational fee; and $1506 in maintenance fees for an annual cost of $1,921 before I try to use any points or exchange... assuming that nothing goes up.

Compare that to my current holdings on the RCI side...

About 83,000 annual points with maintenance fees of $279 (which will get most 2BR units for a week) plus two "weeks-type" properties (each of which will exchange for a week in another property) with maintenance fees of $200 per week.

Total investment there is about $16,000. RCI membership is $89 a year, so my annual carrying cost is $279 plus $200 plus $200 plus $89= $778

I am more comfortable with the lower "carrying costs" from RCI.

I was attracted to DRI because the sales reps were able to pull up a lot more availability from the II/DRI computers than I was able to pull up using what was then a 105,000 a year points-only membership with RCI. I don't know if that availability was "cooked" but I am not pulling much when I search with DRI/II.

What do you all think?

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

Spence

I'm just concerned that if we go from 0.10 per point to 0.12 per point this time at year's end for next year that we will be looking at 0.15 for 2011... and I may get myself priced out soon.

They have to be getting each other rich or buying new properties with this money... I don't see it going back in to existing inventory in upgrades/improvements.