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CREDIT ALLOCATION for San Diego - Mission Valley

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 PostPosted: Wed 28 Mar 2007 7:00 am   
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RichM wrote:
No way.. besides, it can't be done, per our bylaws.

Rich,

I suspect that you missed the sarcasm in Jim Landowski's post.

/Jim

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 PostPosted: Wed 28 Mar 2007 11:09 am   
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I got the sarcasm - but it's a pointless argument. Many people would not have bought in (and would not buy in today) if the minimum to book a 2BR were 15K or 20K. That would raise the cost 50-100% versus buying 10K credits to get one week in a 2BR/year. In fact, I believe the average owner owns around 9K credits..

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 PostPosted: Wed 28 Mar 2007 11:21 am   
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RichM wrote:
I got the sarcasm - but it's a pointless argument. Many people would not have bought in (and would not buy in today) if the minimum to book a 2BR were 15K or 20K. That would raise the cost 50-100% versus buying 10K credits to get one week in a 2BR/year. In fact, I believe the average owner owns around 9K credits..


I would not have purchased. For me the costs made sense but at the higher rates sticking with the RV would have been a better deal for my family. :shrug:

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 PostPosted: Wed 04 Apr 2007 10:47 pm   
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I guess I will have to watch out for exchange opportunities (at a lower cost than what I would have to pay if I were to book through the WM system) when I want to stay at this resort ... Glad I didn't throw away my RCI membership as this would only be available via RCI! 8-[

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 PostPosted: Thu 19 Apr 2007 9:17 am   
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Location: Southern California
I think this bears repeating.

The new San Diego Mission Valley credits have been revealed. The news is not good.

WorldMark owns 55 1-bdrm/1-bath units and 112 2-bdrm/2-bath units.

The seasonal calendar is all RED.

Credit allocation is as follows:

    1-bdrm week: 12,500 credits
    2-bdrm week: 15,000 credits
As a reminder, here is the credit allocation for Oceanside Harbor:

    1-bdrm week: 8,000 credits
    2-bdrm week: 10,000 credits
This resort is generating a total of 118,375,000 credits.

A 2-bdrm/2-bath in Oceanside Harbor is 10,000 credits for 1 week. Where is the "relative use-value?" FYI: Both unit sizes are smaller than Oceanside, the 1-bdrm being significantly smaller.

The 1-bdrm unit in Mission Valley requires 56% more credits to book than the larger 1-bdrm in Oceanside. Ask your BOD about that!

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 PostPosted: Thu 19 Apr 2007 11:51 am   

Joined: Tue 14 Feb 2006 9:42 pm
Posts: 311
Ouch.

I'm curious if property values at Mission Valley are 56% higher than at Whistler.

A one bed at Cascades is currently worth $275K US based on units I saw for sale in March 2007. Are one bed units in this resort worth $430K??? (And I'm ignoring the fact that Whisler has White and Blue time while SD, consistent with other timeshares in the area, is all Red. If you were to calculate annual credits for a one-bed whister to a one bed SD, SD would be more than 56% higher!).

Interesting. Cost me 10,000 plus $200 for an exchange, or 15,000 to book directly. $200 for 5000 credits is less than bonus time!


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 PostPosted: Fri 18 May 2007 8:41 am   
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Location: Southern California
You can now see and book this resort on-line, if you want spend all those credits! :rofl:

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 PostPosted: Fri 18 May 2007 6:38 pm   
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lconnors wrote:
You can now see and book this resort on-line, if you want spend all those credits! :rofl:


Currently, reservations are being accepted from March 1, 2008 onward.

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 PostPosted: Fri 18 May 2007 7:32 pm   
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lconnors wrote:
I think this bears repeating.

The new San Diego Mission Valley credits have been revealed. The news is not good.

WorldMark owns 55 1-bdrm/1-bath units and 112 2-bdrm/2-bath units.

The seasonal calendar is all RED.

Credit allocation is as follows:

    1-bdrm week: 12,500 credits
    2-bdrm week: 15,000 credits
As a reminder, here is the credit allocation for Oceanside Harbor:

    1-bdrm week: 8,000 credits
    2-bdrm week: 10,000 credits
This resort is generating a total of 118,375,000 credits.

A 2-bdrm/2-bath in Oceanside Harbor is 10,000 credits for 1 week. Where is the "relative use-value?" FYI: Both unit sizes are smaller than Oceanside, the 1-bdrm being significantly smaller.

The 1-bdrm unit in Mission Valley requires 56% more credits to book than the larger 1-bdrm in Oceanside. Ask your BOD about that!


Lynn, I think this is a good comparson. Seeing them side by side shows what a big jump there has been. I think this is going to create bigger WM accounts with new owners. New owners are going to be told they need the larger amount of credits in order to be able to stay at any/all resorts. I was told this very thing by the TW sales staff. They just failed to mention that at a later date credit values would sky rocket. :roll:


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 PostPosted: Fri 18 May 2007 9:03 pm   
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Location: Galt, California
worldmark fan wrote:
Lynn, I think this is a good comparson. Seeing them side by side shows what a big jump there has been. I think this is going to create bigger WM accounts with new owners. New owners are going to be told they need the larger amount of credits in order to be able to stay at any/all resorts. I was told this very thing by the TW sales staff. They just failed to mention that at a later date credit values would sky rocket. :roll:


I disagree, I think WVO is going to make it harder to sell credits IF the prospect understands what his 6,000 credits WON'T get him. I can tell you from experience the vast majority of packages sold are 6,000 probably around 90% or higher a few 12,000 and the percentage of over 12,000 is very very small %.. . People are not going to spend $22,000 for 12,000 credits on a first visit let alone 27,000 for 15,000 credits!!!

They have problem getting qualified prospects as it is. The higher credit values will eventually ruin sales. But it will take awhile. I guarantee you they are not turning the page open to the site that shows 15,000 credits for a 1 bedroom. The sales office that is going to suffer the most is the one at the resort with the high values!! Now it may help owner upgrades in the short term, but I really even doubt that.

Just one person opinion. Take it for what it is worth..... :-s

Fred

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 PostPosted: Fri 18 May 2007 9:28 pm   

Joined: Sat 13 Dec 2003 1:45 pm
Posts: 1431
Location: Wapato
harvrbt wrote:
I disagree, I think WVO is going to make it harder to sell credits IF the prospect understands what his 6,000 credits WON'T get him. I can tell you from experience the vast majority of packages sold are 6,000 probably around 90% or higher a few 12,000 and the percentage of over 12,000 is very very small %.. . People are not going to spend $22,000 for 12,000 credits on a first visit let alone 27,000 for 15,000 credits!!!

They have problem getting qualified prospects as it is. The higher credit values will eventually ruin sales. But it will take awhile. I guarantee you they are not turning the page open to the site that shows 15,000 credits for a 1 bedroom. The sales office that is going to suffer the most is the one at the resort with the high values!! Now it may help owner upgrades in the short term, but I really even doubt that.

Just one person opinion. Take it for what it is worth..... :-s

Fred

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Visualize an Independent BOD!!!!!!!!!!!!!!!!!!!!

I agree. I am not going to buy more credits to stay in these new resorts. I do not plan on staying in any of them. If it gets to the point that I can’t get into the resorts with the STANDARD credit values or get good exchanges through II of DAE I will sell my membership for whatever I can get for it.
I


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 PostPosted: Fri 18 May 2007 10:20 pm   

Joined: Fri 11 May 2007 6:59 pm
Posts: 36
Location: River Falls, WI
I haven't seen this point made yet. Sorry if it is a repeat...

WorldMark continues to add these high credit resorts. So, what happens when II or RCI starts looking at the average cost of a week in WorldMark and decides to reevaluate their credit exchange rate?

I can be sold the story about better location higher point values to a point. Okay, I'd pay 12,000 for a 2-bedroom in a prime San Diego location versus the typical 10,000. There is some reasonable logic there. But, when you are looking at 15,000 for a 1-bedroom, I do not believe that is reasonable. I am simply not interested in booking any weeks there.

Jmama


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 PostPosted: Fri 18 May 2007 10:41 pm   
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Location: Eugene OR
melschey wrote:
I agree. I am not going to buy more credits to stay in these new resorts. I do not plan on staying in any of them. If it gets to the point that I can’t get into the resorts with the STANDARD credit values or get good exchanges through II of DAE I will sell my membership for whatever I can get for it.
I


I was thinking as I read this, how I sorta went along with the rhetoric (lies) about bringing in the urban resorts early on- New Orleans, San Francisco, the Camlin- thinking they were "special" circumstances. Even the survey about adding more if they were urban and sought after locations had some credibility.
But what it was, was a trick. It was a deceptive trick to start bringing in all new resorts at higher credits using the above mentioned as examples of what we wanted. It was a trick, a deceptive trick that many of us fell for because we trusted WM....now we know that was a mistake. They will continue to tell us San Diego, Indio etc. is what we said we wanted.....a complete manipulation of what they presented to us.
Oh Canmic, sometimes I wanta borrow your term LS, Inc.

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 PostPosted: Sat 19 May 2007 3:13 am   
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harvrbt wrote:
I disagree, I think WVO is going to make it harder to sell credits IF the prospect understands what his 6,000 credits WON'T get him. I can tell you from experience the vast majority of packages sold are 6,000 probably around 90% or higher a few 12,000 and the percentage of over 12,000 is very very small %.. . People are not going to spend $22,000 for 12,000 credits on a first visit let alone 27,000 for 15,000 credits!!!

They have problem getting qualified prospects as it is. The higher credit values will eventually ruin sales. But it will take awhile. I guarantee you they are not turning the page open to the site that shows 15,000 credits for a 1 bedroom. The sales office that is going to suffer the most is the one at the resort with the high values!! Now it may help owner upgrades in the short term, but I really even doubt that.

Just one person opinion. Take it for what it is worth..... :-s

Fred

CTR

Visualize an Independent BOD!!!!!!!!!!!!!!!!!!!!


Fred, when I joined I was told that I had to buy 12,000 credits to get a good room at any resort. I have been to the sales office here in Salt Lake and heard them tell new buyers this also. That is why I feel this will get owners to buy larger accounts. I have had friends buy into WM and they have never bought less than 12,000 credits from WM. This is why I feel the higher values result in bigger accounts sold. Even resale I have never had a friend buy less than 14,000 credits. I wanted an account that allowed me a 2 bedroom at most resorts. At least this was what TW was pushing when I joined.

Last year a man in my office quit and went to work for WN. In his sales training he was told to start out big and work down to smaller accounts. He was told that WN wanted to push the idea that a bigger account would give a person a room at any resort where a smaller one would not. So I am just thinking based on the sales practice here in Salt Lake and what my friend was told last Fall that this may result in larger accounts. I am sure that is what WN is looking for. As to what the end result is going to be I don't know. :wave:


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 PostPosted: Sat 19 May 2007 3:35 am   
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N wrote:
I was thinking as I read this, how I sorta went along with the rhetoric (lies) about bringing in the urban resorts early on- New Orleans, San Francisco, the Camlin- thinking they were "special" circumstances. Even the survey about adding more if they were urban and sought after locations had some credibility.
But what it was, was a trick. It was a deceptive trick to start bringing in all new resorts at higher credits using the above mentioned as examples of what we wanted. It was a trick, a deceptive trick that many of us fell for because we trusted WM....now we know that was a mistake. They will continue to tell us San Diego, Indio etc. is what we said we wanted.....a complete manipulation of what they presented to us.
Oh Canmic, sometimes I wanta borrow your term LS, Inc.


Nena, I sure do agree with you on this one. Well I am out of town for the next week so will miss the chat room here. :wave:


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