Article about new Ritz Carlton Destination Club.......

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

(ORLANDO, FL) -- Twenty five years after setting a new timeshare standard by becoming the first branded hospitality company to enter the vacation ownership market, Marriott International Inc., is now about to redefine the vacation/destination club industry. According to company sources, the Real Estate Channel has learned the Ritz-Carlton Hotel Company LLC is scheduled to announce today the unveiling of a new Ritz-Carlton Destination Club - making Marriott the first branded hospitality company to enter this nascent and somewhat checkered form of vacation ownership..........

Ritz-Carlton Hotel Company Launches New Destination Club - Real Estate Channel Global News Center

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

So, they are now offering a point based system......IMO, it won't be long before they make their timeshares point based, as well. If anything, the current market may speed up the process. It may be a way for Marriott to generate new business.

For example, members with a Home Club preference enjoy up to 35 days of pre-reserved access at their specific club annually, and can also use a portion of their time at other locations on a reciprocal-use basis in accordance with reservation procedures.

Home Club prices range from the low $100,000s to the low $800,000s per deeded interest.

Conversely, Portfolio Memberships offer a beneficial interest in a trust where members can customize their vacations through a points-based currency.

[Steamboat Bill Banned Find all posts View Profile Close Steamboat Bill]

The Ritz-Carlton Destination Club is a big deal as it is a deeded points based system by a brand name company.

Prices start around $120,000 to join + annual dues of $7,400 and that gets you a choice of 10 or so locations. It is a points based system.

For more info, check out

Destination Club Forums

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

That's all it is. It's just a extremely high end timeshare points system.

It's obvious to me that the head should have read:

"Desperate for new business in a deep real estate recession, Ritz Carlton turns itself into a timeshare point system."

[Steamboat Bill Banned Find all posts View Profile Close Steamboat Bill]

That's all it is. It's just a extremely high end timeshare points system.

It's obvious to me that the head should have read:

"Desperate for new business in a deep real estate recession, Ritz Carlton turns itself into a timeshare point system."

I think this was created because the Fractional market has crashed so hard, they could not give the properties away.

Either way, this new club does address many of the problems in the Destination Club industry and I plan on visiting a few of them, but will probably rent rather than buy into the club.

[Steamboat Bill Banned Find all posts View Profile Close Steamboat Bill]

Even though $120,000 may seem outrageous for a "timeshare", you must remember that Marriott is charging $70,000 for certain Marco Island weeks and Marriott owns the Ritz-Carlton.

Obviously the Ritz is a higher end product than Marriott, thus the increased price.

Are there any takers?

[thinze3 Member Find all posts View Profile Close thinze3]

Even though $120,000 may seem outrageous for a "timeshare", you must remember that Marriott is charging $70,000 for certain Marco Island weeks and Marriott owns the Ritz-Carlton.

Obviously the Ritz is a higher end product than Marriott, thus the increased price.

Are there any takers?

Maybe if can sell my Marriott's Legends Edge, I'll buy into the Ritz.