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 Posted: Sun 07 Feb 2010 11:42 am |
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| canmic |
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| Joined: 04 Jan 2006 |
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And of course there is the fact that Wyndham is sitting on just under $1 billion in inventory of WM points that they cannot sell.
When the economy collapsed and car dealers and manufacturers were left with HUGE inventories as dealers went bankrupt etc... the car manufacturers stopped making new cars.
When things picked up and inventory levels went down again, they started making new cars again.
It's actually THAT SIMPLE.
too much inventory = stop production until your inventory level falls again |
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Visited so far: Discovery Bay X 10, Vancouver X 12, Victoria X 24, Kona X 3, Camlin X 17, WM San Diego, Oceanside x 2, Schooner Landing, Surfside X 2, Birch Bay X 4, WM Kihei, Cascade Lodge, Seaside, Depoe Bay
II Exchanges: Kona Coast Resort x 2, Disney Saratoga Springs x 2, Disney Beach Club Villas x 2, Lawrence Welk Resort Villas x 5, Westin Ka'anapali x 3, Marriott Cypress Harbour, Four Seasons Aviara x 2, Flagship Resort (Atlantic City), Cranberry Waterfront Suites and Country Club, Ka'anapali Beach Club
RCI Exchanges: Disney Beach Club Villas x 3, Disney Saratoga Springs, Aviawest Pacific Rim, Disney Boardwalk Villas
Other: Disney Bay Lake Towers, Kona Coast Resort II |
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| Posted: Tue 09 Feb 2010 4:49 pm |
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| Shon_t |
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| Joined: 16 May 2008 |
| Location: Sacramento, CA |
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| If this is all the resorts Wyndham builds, I will still be very happy with the portfolio. |
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_________________
"God grant us the serenity to accept the things we cannot change, courage to change the things we can, and wisdom to know the difference."
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Owner Since June 2008
Resorts visited: Running-Y (x2) , Solvang (x2), Angels Camp, Indio, La Paloma, Clear Lake, Tahoe II, Bass Lake, Worldmark Orlando, Big Bear, Marina Dunes, Midway UT, West Yellowstone
Total number of nights: 57 |
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| Posted: Tue 09 Feb 2010 7:00 pm |
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| Paul |
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| Joined: 14 Nov 2004 |
| Location: Cypress,CA |
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| Marci wrote: | | Right now Wyndham is sitting on over 420 million unsold credits (per the 2009 election voting power calculations) |
I wonder how many they sell per year right now? |
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_________________
Palm Springs 2x, Big Bear 8x, Oceanside 9x, Bass Lake 1x, Solvang 3x, San Diego3x, Mission Valley1x, Las Vegas2x, San Francisco1x, Indio9x.
Angels Camp2x, Reno2x.Wyndam Nashville1x
Exchanged
Marriott Cypress Harbour |
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| Posted: Tue 09 Feb 2010 7:26 pm |
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| Shon_t |
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| Joined: 16 May 2008 |
| Location: Sacramento, CA |
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| Paul wrote: | | I wonder how many they sell per year right now? |
If they haven't added any, won't we just be able to compare this years figure to next, in order to calculate how many were actually sold? |
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_________________
"God grant us the serenity to accept the things we cannot change, courage to change the things we can, and wisdom to know the difference."
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Owner Since June 2008
Resorts visited: Running-Y (x2) , Solvang (x2), Angels Camp, Indio, La Paloma, Clear Lake, Tahoe II, Bass Lake, Worldmark Orlando, Big Bear, Marina Dunes, Midway UT, West Yellowstone
Total number of nights: 57 |
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| | | | | | | | | Re: No more new worldmark resorts? | | | | | |
| Posted: Tue 09 Feb 2010 7:28 pm |
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| lstone19 |
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| Joined: 17 Apr 2006 |
| Location: Chicago |
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| Nick wrote: | Steamboat is now shared with Vacation International, Diamond Resorts International (fka Sunterra) and Wyndham Vacation Resorts. WorldMark still owns the most units there, although Wyndham as the manager is fully in control.  |
There's a big difference between resorts built to be shared and those that ended up as shared resorts due to developer failures. Steamboat phase 1 (buildings 1 and 2) was originally developed and, I believe, fully built by one the predecessors (Sunterra or Vacations International). The original developer failed as did the second one (I hope I have that right) but eventually Trendwest picked up the unsold inventory in the form of whole units in Building 2 (there are no WM units in Building 1) and turned them into WMtC Steamboat. Trendwest also picked up the management contract for the entire property.
On the other hand, Steamboat Phase 2 (building 3 through 6) was planned, from the time the first shovel was turned, to be half WMtC and half WVR. |
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_________________
Larry
Past: Steamboat Springs (5), Oceanside, Las Vegas Blvd., Las Vegas Spencer, Kihei
Future: Nothing booked |
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| Posted: Wed 10 Feb 2010 2:06 am |
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| canmic |
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| Joined: 04 Jan 2006 |
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| Shon_t wrote: | | If they haven't added any, won't we just be able to compare this years figure to next, in order to calculate how many were actually sold? |
No, because of the defaults.
It wouldn't surprise me too much if they actually have MORE credits next august than they had last august. It's unlikely but not terribly unlikely.
What we can see is the net (sales-defaults) |
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_________________
Visited so far: Discovery Bay X 10, Vancouver X 12, Victoria X 24, Kona X 3, Camlin X 17, WM San Diego, Oceanside x 2, Schooner Landing, Surfside X 2, Birch Bay X 4, WM Kihei, Cascade Lodge, Seaside, Depoe Bay
II Exchanges: Kona Coast Resort x 2, Disney Saratoga Springs x 2, Disney Beach Club Villas x 2, Lawrence Welk Resort Villas x 5, Westin Ka'anapali x 3, Marriott Cypress Harbour, Four Seasons Aviara x 2, Flagship Resort (Atlantic City), Cranberry Waterfront Suites and Country Club, Ka'anapali Beach Club
RCI Exchanges: Disney Beach Club Villas x 3, Disney Saratoga Springs, Aviawest Pacific Rim, Disney Boardwalk Villas
Other: Disney Bay Lake Towers, Kona Coast Resort II |
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| Posted: Thu 11 Feb 2010 7:56 am |
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| odaddy |
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| Joined: 26 Oct 2005 |
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| No new resorts will mean that existing owners will be buying most of the credits, those that like their membership and use it, it will definitely make scarce inventory extremely scarce. |
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| Posted: Thu 11 Feb 2010 12:26 pm |
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| Shon_t |
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| Joined: 16 May 2008 |
| Location: Sacramento, CA |
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| odaddy wrote: | | No new resorts will mean that existing owners will be buying most of the credits, those that like their membership and use it, it will definitely make scarce inventory extremely scarce. |
Let's buy up all the inventory...less votes by Wyndham would be fine by me.  |
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_________________
"God grant us the serenity to accept the things we cannot change, courage to change the things we can, and wisdom to know the difference."
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Owner Since June 2008
Resorts visited: Running-Y (x2) , Solvang (x2), Angels Camp, Indio, La Paloma, Clear Lake, Tahoe II, Bass Lake, Worldmark Orlando, Big Bear, Marina Dunes, Midway UT, West Yellowstone
Total number of nights: 57 |
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| Posted: Thu 11 Feb 2010 1:22 pm |
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| LLW |
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| Joined: 06 Mar 2004 |
| Location: West Coast |
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| Shon_t wrote: | | Let's buy up all the inventory...less votes by Wyndham would be fine by me. |
Do you want to pay $1.94 instead of 50 cents? 
On another note, Great Links, a company that copied Worldmark but started late, recently went under:
http://www.timeshareforums.com/forums/vi-vacation-internationale-fka-sunterra-pacific/100727-good-bad-me.html
The expansion strategy does not produce positive results in the current real estate market and economy. In a way we should be glad that they have stopped development until the market pans out. WVO is going to have a hard time selling those new WVR resorts, and it's WM's older resorts and management contract that's saving WbW right now. |
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Support Marci Tribe for the WM Board in 2010 - Assign Your Proxy to WMO!!!
http://www.owners4worldmark.org/
Owner since 2002:
* Arrow Point, Birch Bay, Camlin, Canadian, Canmore, Deer Harbor, Depoe Bay, Discovery Bay, Dolphin’s Cove, Kapaa Shore, Lake Chelan, Leavenworth, Long Beach, Marina Dunes, Ocean Shores, Ocean Walk, Oceanside, Pismo Beach, Santa Fe, Seaside, Solvang, Surfside, Victoria, W Yellowstone, Windsor. Soon: LV Spencer, St George.
* Wyn Flagstaff.
* Exchanges: DVC Boardwalk Villas, Four Seasons Aviara & Scottsdale, Four Seasons Fairways, Great Links Desert Canyon, Grand Okanagan, Jockey Club, Manteo Beach Club, Marriott's Grand Chateau, Marriott's Marbella Beach, Seasons@Whitbarrow Village, Snowater, Westin Ka'anapali S & N & Princeville. Soon: Pend Oreille Shores, Point @ Poipu. |
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| Posted: Thu 11 Feb 2010 1:42 pm |
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| canmic |
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| Joined: 04 Jan 2006 |
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| LLW wrote: | | it's WM's older resorts and management contract that's saving WbW right now. |
Ie: The Trendwest Legacy.
As I've said before, TW built something so good that it's going to take Wyn quite a while to completely trash it, but that doesn't mean that Wyn isn't taking it down that road to ruin. |
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_________________
Visited so far: Discovery Bay X 10, Vancouver X 12, Victoria X 24, Kona X 3, Camlin X 17, WM San Diego, Oceanside x 2, Schooner Landing, Surfside X 2, Birch Bay X 4, WM Kihei, Cascade Lodge, Seaside, Depoe Bay
II Exchanges: Kona Coast Resort x 2, Disney Saratoga Springs x 2, Disney Beach Club Villas x 2, Lawrence Welk Resort Villas x 5, Westin Ka'anapali x 3, Marriott Cypress Harbour, Four Seasons Aviara x 2, Flagship Resort (Atlantic City), Cranberry Waterfront Suites and Country Club, Ka'anapali Beach Club
RCI Exchanges: Disney Beach Club Villas x 3, Disney Saratoga Springs, Aviawest Pacific Rim, Disney Boardwalk Villas
Other: Disney Bay Lake Towers, Kona Coast Resort II |
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| Posted: Thu 11 Feb 2010 1:42 pm |
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| ladycody |
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| Joined: 01 Apr 2006 |
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I still think it has alot to do with balance.
I know a homeschool family that loves to use WM during the off season weeks. (Wyn seriously ought to pay to have sales kiosks at homeschool events/tradeshows....what an awesome thing to be able to do with your kids...virtually whenever u want!) I know another couple in computer programming (or something like that  ) that love to travel anytime they can...they just bring work with them.
I, too, book many of my stays in off season and midweek to avoid high credit values and get more time "away" than I would traveling in red season alone. Nena will go whenever she can get in...and anywhere she can get to... My in-laws are semi-retired and love using nearby off season resorts throughout the year. I think that many of us would do more off season traveling if we could. I'd do more of it right now if my kids were out of school....and I know that when I retire I plan to stay for weeks on end in blue season at various locations...just to explore and be 'someplace else'.
I honestly think...that, given time, usage would balance out and blue season would beoome a retirees playland. Some folks would never consider it...and many of those folks might drop their ownerships because of frustration if they're unable to book all of their time in red season...but I know plenty that plan to play in retirement as I do...as soon as life gives them a bit of wiggle room with regard to having some freedom to travel.
My end point, I guess, is that the depletion of the developer's inventory doesnt have to presume a horrific impact on club supply/demand. |
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| Posted: Thu 11 Feb 2010 1:49 pm |
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| ladycody |
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| Joined: 01 Apr 2006 |
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Dang it.....there I go bein' all Pollyanna again... 
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| Posted: Thu 11 Feb 2010 2:05 pm |
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| ecwinch |
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| Joined: 11 Nov 2008 |
| Location: San Antonio, TX |
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I am glad you said it. 
But I like two of your points. That the baby-boom affect will kick in and solve our problem with under-utilized resorts. The only wrinkle I see is that most retirees tend to gravitate toward warmer climes in the blue/white season. So Indio, Santa Fe, Taos will still have a problem. Less so for New Braunfels, New Orleans, Tucson, et al. (Though we are having a wicked winter down here this year).
The home school market is pure genius.  |
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| Posted: Thu 11 Feb 2010 5:04 pm |
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| itschoice |
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| Joined: 05 Oct 2009 |
| Location: California |
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| So if blue season starts to get used can the BOD change it to white or red? Just wondering... |
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_________________
Tina
Owner since July 2009
WM Visited: Indio (3x), Big Bear, Solvang
II Resorts: Amatique Bay Resort Guatemala
RCI Pending Reservation: SilverLeaf Resort Flint TX Aug 2010
Other: Decameron Resorts El Salvador
Pending Non Timeshare vacations: July 2010 Central America road trip (Guatemala City, Tikal, Antigua Guatemala, Chcicastenango, Belize, Copan Honduras, etc). |
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| Posted: Thu 11 Feb 2010 5:18 pm |
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| canmic |
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| Joined: 04 Jan 2006 |
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| itschoice wrote: | | So if blue season starts to get used can the BOD change it to white or red? Just wondering... |
Sort of.
The total number of credits for a unit can't change.
So, for example, suppose you have the following (Which is the case with the older pre-wyn resorts)
Red Season = 35 weeks = 100% credit cost
White Season = 12 weeks = 75% credit cost
Blue Season = 5 weeks = 50% credit cost
The total credits for that unit is (35 X 100% + 12 X 75% + 5 X 50%) times the base weekly credit value.
=
46.5 times the base weekly credit value.
Now, the BoD can do anything that they want with that, so long as the total credits for the year is still equal
So, for example, they could change it to:
35 weeks Red, 22 weeks White and 0 weeks Blue
Or
35 weeks Red, 0 weeks White and 11 weeks Blue
Etc..
They are supposed to be using some sort of computer program that figures it out, of course the computer is kind of stupid. For example, Depoe Bay had many units offline one summer for repairs so two years later, the computer made the month of august blue season because of the low occupancy 2 years before (D'oh!!)
They can also shuffle around which weeks are which season, and they do this to match holidays for example. |
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_________________
Visited so far: Discovery Bay X 10, Vancouver X 12, Victoria X 24, Kona X 3, Camlin X 17, WM San Diego, Oceanside x 2, Schooner Landing, Surfside X 2, Birch Bay X 4, WM Kihei, Cascade Lodge, Seaside, Depoe Bay
II Exchanges: Kona Coast Resort x 2, Disney Saratoga Springs x 2, Disney Beach Club Villas x 2, Lawrence Welk Resort Villas x 5, Westin Ka'anapali x 3, Marriott Cypress Harbour, Four Seasons Aviara x 2, Flagship Resort (Atlantic City), Cranberry Waterfront Suites and Country Club, Ka'anapali Beach Club
RCI Exchanges: Disney Beach Club Villas x 3, Disney Saratoga Springs, Aviawest Pacific Rim, Disney Boardwalk Villas
Other: Disney Bay Lake Towers, Kona Coast Resort II |
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