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Not thrilled to go to VI
I too am a great links owner of about 4 years and bonus time and location were the two reasons we joined.
I have seen in a couple of posts were it has been asserted that what we liked about our timeshare (bonus time and lower fees) was a system that was unsustainable and the proof is the selling of great links to VI.
I do not agree.
I think our maintenance fees would of gone up over time certainly, almost all of our properties were relatively new and as they aged would require more capital than they currently do.
Who says Bonus time has to be twice as much as we paid, airlines do seat sales all the time. Could an argument not be made that buildings with a higher percentage of occupancy at lower rates generates as much income, with the added bonus of more people willing to buy in and happier for it
I had spoken to great links ( to almost every single person in their office excluding the owner and my wife did actually speak to the owners wife for what it is worth) leading up to the vote to move to VI.
My understanding of the financial situation of the parent company was that it was obviously in dire straights. The owner put all or almost all of his assets on the block to see what would sell first.
We the Great links owners are what he sold to VI more so than Homestead and in exchange he retained more than half of the properties deeded to Great links timeshare owners, even though he personally only owned about 10% of the points (one million plus points out of the nearly 11 million) Desert Canyon was over 5 million points alone Homestead was about 2 807 000 points with the two additional small 1 bdrm's.
We the maintenance fee paying owners are the coveted asset VI wants. The differential they are giving up in points (which if you check ebay or craigslist for VI points are not selling for much of anything) will be absorbed with there currently undersold properties. Vi gets in maintenance fees (10 000 000 points worth of great links owners divided by 69 = 144 927 VI points multiply that by the $7 per point maintenance fee VI charges and you get $1 014 489 per year)
$1 014 489 added into your maintenance fee budget minus what it costs to maintain homestead. I imagine that goes along way when times are tough.
The way I look at it the owner of great links parent company got 5 million points worth of property, VI got 1 million worth of annual maintenance fee income and we got screwed.
P.S point numbers taken from spreadsheet from gl
I too am a great links owner of about 4 years and bonus time and location were the two reasons we joined.
I have seen in a couple of posts were it has been asserted that what we liked about our timeshare (bonus time and lower fees) was a system that was unsustainable and the proof is the selling of great links to VI.
I do not agree.
I think our maintenance fees would of gone up over time certainly, almost all of our properties were relatively new and as they aged would require more capital than they currently do.
Who says Bonus time has to be twice as much as we paid, airlines do seat sales all the time. Could an argument not be made that buildings with a higher percentage of occupancy at lower rates generates as much income, with the added bonus of more people willing to buy in and happier for it
I had spoken to great links ( to almost every single person in their office excluding the owner and my wife did actually speak to the owners wife for what it is worth) leading up to the vote to move to VI.
My understanding of the financial situation of the parent company was that it was obviously in dire straights. The owner put all or almost all of his assets on the block to see what would sell first.
We the Great links owners are what he sold to VI more so than Homestead and in exchange he retained more than half of the properties deeded to Great links timeshare owners, even though he personally only owned about 10% of the points (one million plus points out of the nearly 11 million) Desert Canyon was over 5 million points alone Homestead was about 2 807 000 points with the two additional small 1 bdrm's.
We the maintenance fee paying owners are the coveted asset VI wants. The differential they are giving up in points (which if you check ebay or craigslist for VI points are not selling for much of anything) will be absorbed with there currently undersold properties. Vi gets in maintenance fees (10 000 000 points worth of great links owners divided by 69 = 144 927 VI points multiply that by the $7 per point maintenance fee VI charges and you get $1 014 489 per year)
$1 014 489 added into your maintenance fee budget minus what it costs to maintain homestead. I imagine that goes along way when times are tough.
The way I look at it the owner of great links parent company got 5 million points worth of property, VI got 1 million worth of annual maintenance fee income and we got screwed.
P.S point numbers taken from spreadsheet from gl
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