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2017 proxy sweepstakes and drop in ownership value

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 PostPosted: Tue 11 Jul 2017 10:32 pm   
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Joined: Tue 11 Nov 2008 1:20 pm
Posts: 3906
Location: San Antonio, TX
mvandagens wrote:
Wyndham can`t vote unsold credits but they can vote Developer held credits and by control of WM BoD acquire proxies to vote those credits in favor of Wyndham interests.


Unsold credits are the property of Wyndham - and since they pay dues on those credits, they can vote them as they please. Ditto for Ovation. If the Club wants to take back credits via Ovation - then the Club would have to retire those credits - which would only increase our dues.

And the reason that reservations are harder to get at certain resorts is not dependent on credit valuation. West Yellowstone came in at "non-traditional" credits and is one of the most difficult resorts to book during peak season. And we could increase the credit values at Depoe Bay for the summer - and it still would be difficult to book. Likewise - if they rolled back very resort to classic values - Hawaii would still be booked up ~13 months out. Where people want to vacation drives behavior more than credit allocation.

Reservations are harder to get because we dont have home resorts. Even if the new resorts came in at classic values - the hard to get resorts would still be hard to get. Demand would still be as high. Most people still are going to choose Hawaii over Grand Lakes, OK for their summer vacation.

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Eric

FACT: We have two independent BoD members - Bob Morrison and Cecilia Cuevas. You can trust that they are independent BoD members, because WMOwners Inc. cast proxy votes for them in the 2011 election. Both of these owners do not have any current or previous financial ties to Wyndham, and meet the IRS and SEC criteria for independent board members.


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 PostPosted: Thu 13 Jul 2017 9:10 am   
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Joined: Fri 16 Apr 2004 6:54 pm
Posts: 4185
Location: Yakima, Washington
ecwinch wrote:
...And the reason that reservations are harder to get at certain resorts is not dependent on credit valuation. West Yellowstone came in at "non-traditional" credits and is one of the most difficult resorts to book during peak season. And we could increase the credit values at Depoe Bay for the summer - and it still would be difficult to book. Likewise - if they rolled back very resort to classic values - Hawaii would still be booked up ~13 months out. Where people want to vacation drives behavior more than credit allocation.

Reservations are harder to get because we dont have home resorts. Even if the new resorts came in at classic values - the hard to get resorts would still be hard to get. Demand would still be as high. Most people still are going to choose Hawaii over Grand Lakes, OK for their summer vacation.

Eric,
While I agree that a desirable location is certainly a factor in unit availability (i.e. Hawaii over Grand Lake), credit values are an equally significant factor, at least using my approach to booking vacations.

There is no way I would stay at Anaheim again (having stayed there once) when I can stay at Dolphin’s Cove (have stayed there three times). I have never stayed at Tropicana or Las Vegas Boulevard, and don’t plan to, because I can stay at Spencer Street for less (have stayed there numerous times).. Similarly, I have an upcoming reservation at Surfside because I see no need to pay more at Long Beach. I doubt I am the only owner who considers cost.

Proximity is also a factor. I use the resorts around the Pacific Northwest frequently because they are “drive to” resorts. They are convenient. That’s the reason I purchased WorldMark in 2003. At that time, all of the resorts (except the exotic locations) were west of the Rockies. It’s hard for me to get excited about going to Grand Lake or Daytona Beach when I can go to Depoe Bay or the California beaches.

Yes, it's nice to have a change of scenery. That's why we jump off to Hawaii or Mexico occasionally, but I doubt we'll ever be headed to Grand Lake. Hoping not to offend anyone, but having lived in Oklahoma, I can say with some experience that the best view of Oklahoma is in your rear view mirror. :)

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Gary
Assign your proxy to WM Owners, Inc. Do NOT assign your proxy to WorldMark's BOD.
Owner since 2003.


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 PostPosted: Thu 13 Jul 2017 9:37 am   
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Joined: Tue 11 Nov 2008 1:20 pm
Posts: 3906
Location: San Antonio, TX
Gary - as with many things in life, viewing how something should or could work from only your personal perspective is not healthy IMHO. We have a broad and diverse membership, so while credit valuation might drive your behavior, it does not mean it does for everyone else. Anaheim is a very popular resort - and I will gladly stay there over the dark cave-like rooms at Dolphins Cove.

The Club policy needs to be inclusive enough to meet the needs of that broad membership, and not solely focused on any one group.

And you might want to review when some resorts came into the Club. Expansion into the Midwest occurred before 2003.

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Eric

FACT: We have two independent BoD members - Bob Morrison and Cecilia Cuevas. You can trust that they are independent BoD members, because WMOwners Inc. cast proxy votes for them in the 2011 election. Both of these owners do not have any current or previous financial ties to Wyndham, and meet the IRS and SEC criteria for independent board members.


Last edited by ecwinch on Thu 13 Jul 2017 10:23 pm, edited 2 times in total.

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 PostPosted: Thu 13 Jul 2017 8:11 pm   

Joined: Thu 19 Apr 2007 6:52 am
Posts: 1269
Location: Spokane, Wa.
Gary I agree with what you said with one exception. Las Vegas Blvd is only 1,000 credits more a week.

It has a lazy river and many nice waterfall hot tubs. The big rip off is Tropicana with no elevator and

high credit values. No wonder they are always pushing it. If you want a 3 bedroom unit the only place

that has them is Las Vegas Blvd.


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 PostPosted: Fri 14 Jul 2017 8:51 am   
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Joined: Fri 19 Aug 2005 9:02 am
Posts: 4547
Location: Henderson, NV
It is nice having choices. When staying in 'Vegas you can have a large, quiet unit in an older building with a more personal feel for less credits. Or you can have a lot more amenities, a party atmosphere and a slightly higher credit value. The problem is the third choice. Much higher credit values and none of the pluses you get from the other 2. [-X

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 PostPosted: Sat 15 Jul 2017 8:24 am   
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Joined: Sat 05 Sep 2009 7:00 am
Posts: 1111
Location: Richland WA - wish it was in the U.P. in the fall
Thanks for the tip on Spenser Street. I'll have to try it some time when we are just passing through. I do agree also with Ginger - LVB is better in some instances - the Lazy river, pools and hot tubs are great.

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Yooper Tom - Worldmark Fan

Purchased original resale points late in 2008. Added more in 2010. Added second account in 2014.

EXCHANGES - Sedona Summit, Villas at Cave Creek, Newport Coast Villasx2, Shawnee River Village, Welk Resort Villas, Sheraton Desert Oasis, Marriott's Grand Chateau, Sunchaser Villas at Riverside, Willowbrook at Lake Harmony (for our son), Four Seasons Residence Club Scottsdalex2, Westin Kierland Villas, Sedona Vacation Club at Los Abrigados, HVC at Flamingo (thanks Seth and Ann), Four Seasons Avariax3, The Ridge at Sedona, Palm Canyons, Marriott Canyon Villas


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 PostPosted: Sat 15 Jul 2017 10:37 am   

Joined: Thu 19 Apr 2007 6:52 am
Posts: 1269
Location: Spokane, Wa.
Thanks Tom, nice to have somebody agree with me occasionally.

You ready for a road trip to annual meeting!!


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 PostPosted: Sat 15 Jul 2017 3:08 pm   
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Joined: Sat 05 Sep 2009 7:00 am
Posts: 1111
Location: Richland WA - wish it was in the U.P. in the fall
I'd love to but it's a no go for Elizabeth. She's saving her long road trip for January snow bird time! It's a nice 2 day drive with a stopover at Running Y and dinner at the awesomeness casino buffet a ways north of Sac. Baklava to die for!

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Yooper Tom - Worldmark Fan

Purchased original resale points late in 2008. Added more in 2010. Added second account in 2014.

EXCHANGES - Sedona Summit, Villas at Cave Creek, Newport Coast Villasx2, Shawnee River Village, Welk Resort Villas, Sheraton Desert Oasis, Marriott's Grand Chateau, Sunchaser Villas at Riverside, Willowbrook at Lake Harmony (for our son), Four Seasons Residence Club Scottsdalex2, Westin Kierland Villas, Sedona Vacation Club at Los Abrigados, HVC at Flamingo (thanks Seth and Ann), Four Seasons Avariax3, The Ridge at Sedona, Palm Canyons, Marriott Canyon Villas


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