I went to the annual meeting of the PTVO Owners Association...they manage Club Wyndham Access
There were 3 board members and about 10 Wyndham employees there, and maybe 50 owners. The agenda was short and sweet, 1) call to order 2) approval of the minutes of the last meeting 3) Plan update 4) treasure's report 5) new business and 6) adjourn
We were told the number of resorts and the numbers of members was growing. Nothing new here, this info and the treasures report have been posted on line for a while
It was in the Q and A where the new and interesting information (at least it was new and interesting to me) came out
Most of the questions went to the sales dept, ie What are you doing about sales?; I like the resorts, but Ill never buy another point or refer another friend to Wyndham; they lie; One guy said he was demanding Wyndham cancel a recent sale because of the lies....
The Wyndham people there pretended not to know what Wyndham sales people were doing. and no one believed them....
The finance guy said that bad debt in CWA was under 2%..I made the point that in fact bad debt was hidden in his numbers. Perhaps CWA members were paying but there are a lot of resorts where CWA owns weeks, and the bad debt at those resorts is high and the high mf to cover it is passed through to us...I suggested a program whereby CWA and Wyndham management , reach out to the various resorts where we own to assist them in getting their bad debt under control...Turns out such a program is being implemented. Wyndham may either offer to pay the resorts legal costs to effect a foreclosure, or take deeds back in lieu of foreclosure.. I always knew Wyndham was dumping foreclosures into CWA, but I didnt know Wyndhan was helping the resorts to actually get the foreclosure done
On the subject of foreclosure. Someone asked what the club was doing to collect bad debt from CWA members who were not paying.....This I found very interesting....Since with CWA you are a member of a club, and you dont hold deeds (the club holds the deed) Foreclosure is the wrong word to use. All the club has to do is cancel your membership...and they will do that after three months. And sales will have something new to sell. And by the way Wyndham pays the club mf for the unsold points...so in the long run, the club doesnt fall behind financially due to a cancellation....A follow up question was...do we try to collect the bad debt...and the answer was no
So the answer to the question that has been asked here on TUG so many times: What happens if I stop paying mf?; is, with regard to CWA, Nothing! At least thats what I took from this meeting
My question, and the one I drove three and a half hours to ask, was...Specifically, how much inventory is in Club Wyndham Access from a specific resort? and how is that inventory metered out to the reservations staff? My question was not answered....but I was told that the answer is available, and I was given an email address to write for the answer...well see
I came away from this meeting convinced that just as Wyndham shifted their focus away from fixed weeks to points some years ago, we can look forward to a shift in focus to CWA as time goes on....
There were 3 board members and about 10 Wyndham employees there, and maybe 50 owners. The agenda was short and sweet, 1) call to order 2) approval of the minutes of the last meeting 3) Plan update 4) treasure's report 5) new business and 6) adjourn
We were told the number of resorts and the numbers of members was growing. Nothing new here, this info and the treasures report have been posted on line for a while
It was in the Q and A where the new and interesting information (at least it was new and interesting to me) came out
Most of the questions went to the sales dept, ie What are you doing about sales?; I like the resorts, but Ill never buy another point or refer another friend to Wyndham; they lie; One guy said he was demanding Wyndham cancel a recent sale because of the lies....
The Wyndham people there pretended not to know what Wyndham sales people were doing. and no one believed them....
The finance guy said that bad debt in CWA was under 2%..I made the point that in fact bad debt was hidden in his numbers. Perhaps CWA members were paying but there are a lot of resorts where CWA owns weeks, and the bad debt at those resorts is high and the high mf to cover it is passed through to us...I suggested a program whereby CWA and Wyndham management , reach out to the various resorts where we own to assist them in getting their bad debt under control...Turns out such a program is being implemented. Wyndham may either offer to pay the resorts legal costs to effect a foreclosure, or take deeds back in lieu of foreclosure.. I always knew Wyndham was dumping foreclosures into CWA, but I didnt know Wyndhan was helping the resorts to actually get the foreclosure done
On the subject of foreclosure. Someone asked what the club was doing to collect bad debt from CWA members who were not paying.....This I found very interesting....Since with CWA you are a member of a club, and you dont hold deeds (the club holds the deed) Foreclosure is the wrong word to use. All the club has to do is cancel your membership...and they will do that after three months. And sales will have something new to sell. And by the way Wyndham pays the club mf for the unsold points...so in the long run, the club doesnt fall behind financially due to a cancellation....A follow up question was...do we try to collect the bad debt...and the answer was no
So the answer to the question that has been asked here on TUG so many times: What happens if I stop paying mf?; is, with regard to CWA, Nothing! At least thats what I took from this meeting
My question, and the one I drove three and a half hours to ask, was...Specifically, how much inventory is in Club Wyndham Access from a specific resort? and how is that inventory metered out to the reservations staff? My question was not answered....but I was told that the answer is available, and I was given an email address to write for the answer...well see
I came away from this meeting convinced that just as Wyndham shifted their focus away from fixed weeks to points some years ago, we can look forward to a shift in focus to CWA as time goes on....