VRI, How does it work?

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

How does VRI work? Can you just give me a quick outline?

Could you answer questions like,

• Do they own any of the many resorts listed on their website or just manage them?
• When they manage, a resorts systems like Vacations Internationael, does it become part of VRI or not.
• They currently do their exchanges thru RCI (with VRI preferance?), are they moving to internal trading with the purchase of ORE?
• Is there anything else I should ask?

[DDI Par Member Find all posts View Profile Close DDI Par]

VRI info

How does VRI work? Can you just give me a quick outline?

Could you answer questions like,

• Do they own any of the many resorts listed on their website or just manage them?
• When they manage, a resorts systems like Vacations Internationael, does it become part of VRI or not.
• They currently do their exchanges thru RCI (with VRI preferance?), are they moving to internal trading with the purchase of ORE?
• Is there anything else I should ask?

Bill:

We own at a VRI managed resort which was damaged financially by Sunterra, and the owners board selected VRI to pick up the pieces . . . It took 4-5 years, with some special assesments, but our resort is up and running with great VRI management and kudos for all the improvements and remains an RCI Gold Crown resort in Sedona.

I don't think that they own any resorts--they are strictly a management company (I could be wrong about that.)

As an owner at a VRI managed resort, you do get preferences from RCI exchanges . . . We have had several great exchanges within the VRI group which we may not have been able to do had we not been part of VRI.

VRI bought ORE (which was just finalized this month) specifically to aquire its internal exchange system . . . I think it may have added another 25+ resorts to VRI's group, which now will have more internal resorts than almost any other system (e.g. Marriott, HGVC, Fairfield, etc.). There is another thread here on TS4MS in which one of the posters (forget who it is, but God bless him) explains how the internal ORE system works. I think they are trying to incorporate this internal system before the end of the year, but you know how that goes.

I have nothing but good things to say about VRI. Their President, Joe Takash (sp?) has attended our HOA meetings and is very forthcoming and also seems like one of the "good guys". He responded to a personal email that I had sent to him about the ORE deal, and apologized that he was five days late with his reply (he had been on vacation).

I don't know how much this internal trading thing will benefit us as VRI owners, considering how well we have traded within the VRI family through RCI, but it has to be another prospective positive benefit. It would be interesting to see what current ORE owners have to say about the program here on TS4MS. I would just say to you that I think you will be happy having VRI as your management company at your resort.

Good luck! . . . DDI Par

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

As mentioned, VRI is strictly a management company. They generally contract with the HOA (or, in the case of Vacation Internationale, the program Board of Directors) to operate resorts. I think they usually bring a high degree of professionalism with them, though, as with all companies specific results can vary with particular staff members.

They will probably perform best if they are working with a strong HOA board. If there is a weak board, I suspect the VRI staff may fill the void too much - easy to do because they are professionals and do know the industry. That would probably most likely show itself in resort budget, an area where a Board needs to particularly scrutinize budgets and expenses.

But overall, for many resorts, particularly smaller resorts, cotnracting with VRI provides the report with skilled management and back office support that many smaller resorts would have difficulty duplicating on their own. The resort will probably pay more in management fees than they would if they went on their own, but they will probably receive better service.

There are smaller resorts that have managed to locate and hire skilled staff who are just as capable as what VRI might provide; obviouisly those resorts would probably not be well served by contracting with VRI. But there are many resorts who haven't been able to find that level of skilled staffing. VRI would be a good option for those resorts.

***

VRI at one time operated its own internal exchange program. Then they outsourced the program to RCI; as part of that deal VRI owners were given reduced rates for RCI membership and exchanges within the VRI group received preferences and reduced exchange fees. There were a couple of VRI resorts that were not affiliated with RCI, and those resorts were orphaned from the internal trading program as a consequence.

*****

I think it will be good if they restart the internal tranding program. I like the way that mini systems operate - they increase the ability of owners to secure exchanges.