DRI Upgrade from Mystic Dunes

[viroid]

Hi All,

I have a bi-annual deeded week (3BR, Week 50, Even) at Mystic Dunes, purchased back in 2002. I was single then, probably had no business buying a timeshare, my parents said it was a good investment...

I used it a handful of times in the first 10 years, but always found II do be difficult and ultimately developed a sour taste for timeshare ownership. I've since married, we have three small kids, and we've started trying to use the timeshare for family travel, because we have it. In fact, we went to Orlando back in December, 6 adults, 7 kids, we had a good time.

Generally speaking though, we don't usually plan our trips very far ahead of time and tend to do long weekends more than week long trips. Thus,, we find the deeded bi-annual week a little inflexible, also II's website.....

This weekend we are vacationing on DRI's dime for an Owner Update, they offered us the ability to upgrade our deeded week at Mystic Dunes to DRI points for a purchase of roughly 3100 points @ $4.90 ish. Combine that with a credit of 5900 points for Mystic Dunes, and we walked away with 9k points for $15k. MF are $1900ish annually.

Moving to points seems like a good idea, the added flexibility of points, and the potential to save 50% when booking late could prove to be beneficial. Plus we can use this annually vs bi-annually.

I don't think we'll need more than 9k points at this time. And from what I've read, if I wanted to get into DRI TheClub using resale points, we'd have to do an initial buy-in to get them converted anyhow.

I guess what I'm asking is, does this seem like an appropriate path to increase our usage and flexibility?


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[awa]

I would say don’t do it. Not because Diamond is a terrible company that I regret ever getting involved with (even though that’s true). We are platinum and got there over the course of several transactions because it just didn’t feel worth it to be at a lower level. 9k isn’t even silver and I guarantee you’ll want those benefits and you’ll also be signing yourself up for years of owners updates where they tell you how much you want to upgrade. If you don’t attend or you’re strong at resisting sleazy salespeople then great. But the plan you propose is very close to silver anyway. You could get 4K resale points for free (and make someone very happy) and then buy 5100 to get to silver and I bet you could negotiate a price not much higher than you’ve already got. The MF will be higher but worth the benefits. Or ... don’t do it and get rid of your Mystic Dunes unit and explore other companies. That’s my advice for what it’s worth.

 

[nuwermj]

$4.90 a point is a bit high; $3.50 a point is a more common number. But, since the purchase is only 3100 points (a very small quantity) it is harder to get the better prices. Typically the best deals are made with the Corporate sales division, not the sales centers at the resorts.

You do not need make an initial buy-in to get resale points. But your deeded time will not be enrolled into the Club without a new purchase. So, you could surrender your deed back to Diamond and acquire some resale points for free. Resale points have restrictions but, if you can live with those, it is an alternative that will save you money.

Diamond's annual fees are very high relative to other timeshare companies. So, another alternative is to surrender your deed and take on resale points from, say, Club Wyndham or Bluegreen. (I'm assuming you live somewhere in the Eastern USA.) Annual fees for 9000 DRI points is $1,678. For the equivalent number of Bluegreen points (15000) the fees are $1,418.

 

[viroid]

@awa

So a similar transaction, but with the ability to hit Silver level would be a better deal?

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[viroid]

$4.90 a point is a bit high; $3.50 a point is a more common number. But, since the purchase is only 3100 points (a very small quantity) it is harder to get the better prices. Typically the best deals are made with the Corporate sales division, not the sales centers at the resorts.

You do not need make an initial buy-in to get resale points. But your deeded time will not be enrolled into the Club without a new purchase. So, you could surrender your deed back to Diamond and acquire some resale points for free. Resale points have restrictions but, if you can live with those, it is an alternative that will save you money.

Diamond's annual fees are very high relative to other timeshare companies. So, another alternative is to surrender your deed and take on resale points from, say, Club Wyndham or Bluegreen. (I'm assuming you live somewhere in the Eastern USA.) Annual fees for 9000 DRI points is $1,678. For the equivalent number of Bluegreen points (15000) the fees are $1,418.

Right, so cost per point was something I didn't have a good idea of going into the discussion, and $4.90 sounded a lot better than $9.xx PP and was inline with what I remember them offering a few years ago.

I had a similar thought about rescinding and the having them take the deed back on MD, and starting over from scratch.


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[viroid]

There is another piece of information regarding the transaction.

We listed another timeshare that we own on our paperwork, that we get a credit of approx 8500 points for via a loyalty program.

Those points can't be used unless we deposit the week into DRI. Thus, we only own 9000 points, but have Silver status.

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[mjc775]

Why pay the yearly MFs, when you can likely get the same (or better) availability through Expedia or via https://www.diamondresortsandhotels.com

On multiple occasions I haven’t been able to use my points for stays to due no availability, but I’ve been able to book through Expedia.


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[viroid]

Why pay the yearly MFs, when you can likely get the same (or better) availability through Expedia or via https://www.diamondresortsandhotels.com

On multiple occasions I haven’t been able to use my points for stays to due no availability, but I’ve been able to book through Expedia.


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Absolutely a valid point. I can rent Mystic Dunes in Orlando for $1400 a week online. My MF for the deeded week at $1500.

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[awa]

If silver status is already part of the deal, never mind what I said above. I would either start fresh or try to get the price per point lowered (which is hard for such a small number of points, as noted). But rescinding a deal tends to produce a counter offer with a lower price per point.

 

[geist1223]

The biggest restriction on resell DRI Points is that you can only use them in their Home Collection. So if you buy resell Points in the US Collection you can not book Hawaii. If you buy resell Points in the Hawaiian Collection you can only use them for the 4 or 5 Resorts in the Hawaiian Collection, of which only 3 are in Hawaii.

I am assuming Mystic Dunes is a DRI owned Resort. If this is true DRI now has a program in which Deeded Week Owners can exchange for weeks in other DRI owned Resorts.

 

[viroid]

The biggest restriction on resell DRI Points is that you can only use them in their Home Collection. So if you buy resell Points in the US Collection you can not book Hawaii. If you buy resell Points in the Hawaiian Collection you can only use them for the 4 or 5 Resorts in the Hawaiian Collection, of which only 3 are in Hawaii.

I am assuming Mystic Dunes is a DRI owned Resort. If this is true DRI now has a program in which Deeded Week Owners can exchange for weeks in other DRI owned Resorts.

That is my understanding with resale points as well.

I believe that program is called Destination Xchange.

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[geist1223]

That is my understanding with resale points as well.

I believe that program is called Destination Xchange.

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Last time I checked Destination Exchange was only for Deeded Week Owners.

 

[viroid]

I've started traveling a bit for work recently and have been staying in Marriott brand hotels, they seem to have nice facilities, and the modern TV's that support Netflix is great for the kids.

I'm not raking in points, but with all of the stays from work travel that I'm not paying for, combined with points from the Marriott Rewards card (now Bonvoy) purchases, it's not inconsequential. I've been considering the Chase Sapphire Reserve card, for it's travel/tsa/lounge benefits.

DRI points can be used for hotel rooms, airfare, and other stuff, but at a much lower value per point than if I used them for multi night resort stays. Thus, I don't see me using DRI points for single night hotel stays while travelling.


1) Is there value in maintaining memberships in multiple programs, such as DRI and Marriott?


2) If I rescind, I still have the Mystic Dunes property unless/until I go through the deed-back process. Does the Mystic Dunes resort have any value in programs outside of DRI?

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[viroid]

Last time I checked Destination Exchange was only for Deeded Week Owners.

Yes, I thought we were talking about the Mystic Dunes property, that I would still have should I rescind.

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[nuwermj]

The biggest restriction on resell DRI Points is that you can only use them in their Home Collection.

To me the biggest restriction is the inability to utilize exchange companies. Secondary market points in a collection wouldn't be so bad if I could exchange them in Interval.

 

[nuwermj]

Is there value in maintaining memberships in multiple programs, such as DRI and Marriott?

I own in four different systems and find I have more flexibility that way. But keeping all the bloody rules straight is no fun.