Maintenance Fees:
Turtle Cay, 1 bedroom went from $704 to $773.
Beach Quarters 1 bedroom went from $652 to $716.
But I am a little surprised at the 10% jump at OCB. I am a big fan of the Gold Key properties at VB, and had a chance to either stay in or tour them all. But they certainly aren't the quality of the oceanfront Marriott resorts all along the eastern seaboard. If they keep bumping up MF's at this kind of annual rate they are going to need to do a lot of work on the properties and addressing all the little details to make the MF's even close to worth it. JMO.
View attachment 2360
Got the budget in the mail today for Beachwoods. And there it is! An increase of almost $300k for "management fees", $540k for "corporate allocation" & $45k more for "front office". Take out those 3 and the developer subsidy from the revenue and the MF would have actually gone down. Even if you include the $323k for the annual operation of the new water park.
Not quite sure how a few more things changed as much as they did. Like +$112k on property maintenance, +$134k for utilities, but -$141k on insurance?
Looks like we'd all be up a creek if we didn't get that "developer subsidy".
Thanks for those budget details...
Corporate Allocation: The major line item that I don't understand is the "corporate allocation." I mean, between us we know DRI was going to jack up the fees, especially to help reimburse the wallet for the big buyout of Gold Key. But how do they explain that rather large line item? What does it include or cover? Does anybody know?
Management Fees: Not a shocker at all. See above. Expected when it was announced DRI was buying out Gold Key.
Annual fees paid by our members cover the operating costs of our managed resorts (including an allocation of a substantial portion of our overhead related to the provision of our management services), our management fees and, in the case of THE Club members, dues for membership in THE Club.
Five resorts in the same town? What was DRI thinking? Why do they think DRI members need FIVE options in the same town? Very strange thinking.
Five resorts in the same town? What was DRI thinking? Why do they think DRI members need FIVE options in the same town? Very strange thinking.
Five resorts in the same town? What was DRI thinking? Why do they think DRI members need FIVE options in the same town? Very strange thinking.
Marriott's have over five timeshare resorts on Hilton Head Island and in Orlando,Fl. That is not totally foreign.
Thanks for those budget details...
Corporate Allocation: The major line item that I don't understand is the "corporate allocation." I mean, between us we know DRI was going to jack up the fees, especially to help reimburse the wallet for the big buyout of Gold Key. But how do they explain that rather large line item? What does it include or cover? Does anybody know?
Management Fees: Not a shocker at all. See above. Expected when it was announced DRI was buying out Gold Key.
We will continue to recover a significant portion of our corporate overhead from the HOAs for the services provided to them, while also earning a management fee on the allocations."
I found this in a TripAdvisor forum:
487. Re: Diamond Resorts International
Oct 30, 2015, 10:53 PM
I totally agree. We had a time share with Gold Key and they sold out to Diamond in Virginia Beach, as of October 2015. At a meeting the staff recommended we attend, they tried to get my husband and I to join. The presentation lasted 2 hours. It wasn't until the end that the real explanation was given: We HAVE TO BUY 8500 points at $8.20 per point....that adds up to about $69,000.00. Now that's on top of the price we paid for our time share with Gold Key the year before. Now we use Interval World. This works for us. I've never needed to take the time to answer a blog but this is a bit over the top.
http://www.tripadvisor.com/ShowTopi...nternational-Timeshares_Vacation_Rentals.html
It's good work if you can get it.
$69,000 for 8500 points. Wow!
Has anyone mentioned which collection they will be put in? if U.S. collection then that makes it lot more valuable for resale points.
Has anyone mentioned which collection they will be put in? if U.S. collection then that makes it lot more valuable for resale points.