posted 05-18-2005 03:58               

There are only rumors, spread by TW salesreps, about the TW VIP program – we are all guessing.

However, since TW (and WM?) is owned by Cendant who also owns FairField there is some concern since FF has a VIP program. In fact the guy heading up TW is also heading up FF.

FF’s VIP program is a marketing gimmick – designed to do two things 1) increase the number of FF points sold and 2) decrease the value of FF points owned by their owners. – resales. VIP has done just that since VIP membership is NOT based on points you buy resale from another FF owner – only points bought direct from FF count.

Since the demand to buy FF points resale has lessened so has the price – how much is just a guess but the FF chat rooms seem to indicate that it could be around one half cent a point. This may not sound like much but when you consider the average FF point sells for 2’ to 2.5’ that amounts to a potential loss of 20% to 25% - again this is just a guess from a FF owners group.

What seems to prevent the TW VIP is the fact that it can’t change a thing that we owners now enjoy – if so a massive class action lawsuit awaits FF’s VIP program. So what could they offer?

Just a guess:
1) Earlier check in times like noon instead of 4 PM and later check out times like 2 PM instead of 10 AM.
2) Unlimited DVD (VHS) movie rentals for free
3) Use of facilities, like swimming pool, year round

All of those are pretty safe bets – no lawsuits.

More risky benefits:
1) Wait lists for VIP members. Want 4th of July week in Kihei – sign up on a wait list 14 months out. The instant the 13 month window opens all those on the wait list are instantly dumped into the reservation system and would immediately be filled. Non VIP members can still call in exactly at 13 months but in just 1 second all those VIP members gobble up the prime reservations.
2) FREE housekeeping cleanings to Platinum VIP members and many more cleanings to Gold, Silver members like 10 for Gold and 5 for Silver.

Those new benefits await potential lawsuits from the 250,000+ WM owners.

What about TW fractional owners? For those of us who bought TW fractionals (we own at SouthShore) will they be include us in the VIP program? My guess is yes – it does fit into the FF model. FF has the PIC program where you can incorporate RCI Gold weeks – the same for TW would be a natural.

How would VIP be structured? (Just a guess – WAG)
Platinum 100,000+ WM credits & TW Trade Points and perhaps PIC RCI Gold weeks.
Gold 75,000 credits and points
Silver 50,000 credits and points

Perry

posted 05-18-2005 06:21               

The other stuff is just frills that won't really be interesting to anyone.

They will mitigate the risk by offering to grandfather all current owners into the new program rules. And, provide them discounted credits to reach the new level. Probably something like $1.25/credit.

Also, they may offer discounted bonus time at less than 60-days. 25% and 50% depending on VIP level.

Since a 2br unit in FF goes for about 150,000-200,000 and it is 1,000,000 to Platinum VIP, my guess is that Platinum VIP in WM will be between 50,000 and 75,000 credits. 60,000 credits is probably a good bet. So the levels would be 20k, 40k and 60k.

When that happens, the account type that will suffer the most is the Non-housekeeping account. There will be no use for that account type at that point in time.

posted 05-18-2005 06:31               

How does this relate to WM? Well, two things will likely happen when the VIP program gets implemented. First, there will be a high administrative cost that owners will likely bear. Second, all those free housekeepings need to be paid by someone. Guess who that will be.

So, I believe what will happen is WorldMark MFs will start increasing so much that it tanks the resale value of credits.

posted 05-18-2005 08:24            

quote:

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Originally posted by PA:
If a similar model is used at Worldmark, the only major harm to current owners are that it will be harder to get weekend only during red season, harder to get bonus time and harder to find inventory specials. These are nice perks of worldmark ownership, but not big enough to pay 2x to buy from TW. And I doubt there would be a huge outcry, because those perks aren't guaranteed in the first place. Only "if available".

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While they're not guaranteed, it's a de facto part of the current system and I'm sure many "average" owners would be extremely upset.

posted 05-18-2005 09:28               

[This message has been edited by RockJenkins (edited 05-18-2005).]

posted 05-18-2005 09:36               

quote:

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Originally posted by RockJenkins:
I am sure glad I ask what VIP is all about. Thanks everybody......just a thought....
....................................One would think that the timeshare re-sale industry of the world would unite and help timeshare owners hire a powerful attorney to stop Cendent since Cendent has limited the broker's Fairfield market.

[This message has been edited by RockJenkins (edited 05-18-2005).]

[This message has been edited by RockJenkins (edited 05-18-2005).]

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Hi Rock, glad to hear from you again.

posted 05-18-2005 10:21               

I assure you that the brokers haven't been hurt by falling prices. They just offer less than they used to, and make the same profit. Plus, the brokers are generally 1 man shops, or at best, small businesses. You don't have any of the fortune 500s involved.

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GEE ... NOW ALL THE TIME I THOUGHT BROKERS MIGHT BE IN THAT SAME BOAT (with timeshare owners) THAT CENDENTS DRILLING ALL THOSE HOLES IN.

THANKS AGAIN....and I have been enjoying reading the NEW WorldMark forum mentioned earlier in this post.....have yet to read about anybody suffering from 2nd hand smoke from fires set in units below or my dogs nicer than your kids who started those fires.

posted 05-18-2005 11:24               

quote:

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Originally posted by PA:
You were right Perry, it is a WAG.

If you're comparing it to Fairfield, the only big incentive to be a Fairfield VIP is the reduced credits it takes to reserve a unit on short notice. .

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Phil,

I am FF VIP (resale)...True that a benefit is reduced points for shorter notice stays but the other big benefit to FF VIP is No Housekeeping fees...Thats the big one if you are like us and do a lot of 2-4 nighters. We use Sedona, Flagstaff and Vegas quite a bit and this benefit comes in handy. Maz

posted 05-18-2005 11:52               

quote:

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Originally posted by Maz:

Phil,

I am FF VIP (resale)...True that a benefit is reduced points for shorter notice stays but the other big benefit to FF VIP is No Housekeeping fees...Thats the big one if you are like us and do a lot of 2-4 nighters. We use Sedona, Flagstaff and Vegas quite a bit and this benefit comes in handy. Maz

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Once again, though, not something that would have a major impact on current owners. At least not enough to get a class action started, probably.

posted 05-18-2005 12:09            

quote:

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Originally posted by PA:

Once again, though, not something that would have a major impact on current owners. At least not enough to get a class action started, probably.

Philip

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As long as TW is footing the bill, and not WM, since it's a developer-benefit. Although I'm sure the Cendant accountants would find a way to get reimbursed by WM and/or increase MF's to cover it somehow.

------------------
A WorldMark Owners' Community - - www.wmowners.com

posted 05-18-2005 12:26               

However, if they start confiscating the property/rights of 250,000 WM owners...they deserve a lawsuit.

posted 05-18-2005 19:58               

_________________________________________________________________

The new WM Owners forum is well designed and interesting to read.

As of yet their seems to be no un-happy dog owners that feel their dogs should be allowed to be guest at WorldMark too.... Ya...I still can remember..... Fellow WorldMark dog owners would write back that their fidel was so well behaved ,and had never lit-up a cigar......you could almost envision their pets using
the bathroom and flushing the John like my cat used to do.

2005).]

posted 05-18-2005 20:21               

quote:

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Originally posted by RockJenkins:
.... and flushing to tolet like my cat used to do.

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posted 05-19-2005 10:37               

quote:

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Originally posted by PA:
Without opposable thumbs????

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