Fractional Ownership at Ritz Carlton [2008]

[Northeast]

Does anyone have any experience with the Ritz Carlton fractional ownerships? They have an established property in Jupiter, FL and I think they are building one in Miami area. Based on what I can find on-line, they sell in multiple week blocks (ie. 3, 4 and 5 weeks), so the entry price is extremely high. I don't think there is any type of exhage opportunity.

 

[lprstn]

Does anyone have any experience with the Ritz Carlton fractional ownerships? They have an established property in Jupiter, FL and I think they are building one in Miami area. Based on what I can find on-line, they sell in multiple week blocks (ie. 3, 4 and 5 weeks), so the entry price is extremely high. I don't think there is any type of exhage opportunity.

I have not bought into this, however my husband and I had seriously considered fractional ownership, but decided to purchase a regular timeshare and rental properties instead. I do have friend that has one and loves it, and is confident that it definately is a good investment. The Ritz has only has positive reviews as some of the others I have read some unhappy owners comments.

 

[stevens397]

Where have you seen reviews of the Ritz?

 

[GregGH]

This fellow use to sell for them and now sells on his own ...

http://www.desilvarealestate.com/bi...L_LISTINGS/Palm+Beach+Gardens/1201208334.html

He had more listings than these few - unsure how the re-sale market really works for fractional - so I watch with some interest.

Since it is non-pet friendly we don't have much interest now.

The rolling weeks for Florida also seem weak - but since Florida has such a limited hi time - I guess you can;t do much more

Regards

Greg

 

[lprstn]

http://www.heliumreport.com/
http://www.heliumreport.com/categories/private-residence-clubs

 

[Northeast]

WOW! That's about $53k per week. Not to bad I guess when you look at some of the Marriott properties where they are getting this kind of money at Marco Island or the Hawaii properties. So who has enough vacation time to take 35 days per year? The maintenance fees are 18k per year!! That's pretty rich for my type!! Thanks for all the info.

 

[travelguy]

I considered a Ritz-Carlton membership before becoming a High Country Club destination club member. I was pleased with the quality of Ritz amenities but was concerned with the price, their "exchange" program and their slow growth. At that time, Ritz was also non-committal about their future plans and the exchange procedures into new properties. It was explained to me that third-party developers license the Ritz name for some (all?) of the fractional developments and can modify the relationship of those developments with other Ritz fractionals.

It appeared too convoluted and expansive on the surface and I never investigated further as I then found High Country Club.

 

[Multicity Resident]

My husband and I have owned a 1/12 interest in Ritz Carlton Club in San Francisco since it opened in late 2007 and have loved it. We got significantly more than our 21 days with the space available feature (I believe we used it for 40+ days). We store things there and have used their other properties as well. We like it so much that we wanted to do something similar in NYC, which is what lead me to this website. We are currently researching Phillips Club in NYC. I agree that the Ritz Carlton concept is difficult to grasp, but once you understand it, you realize it is genius and is catering to exactly what we were looking for (fully furnished high end home in another city that we can use throughout the year on either short notice or with advance booking certainty at fraction of what it would cost us to maintain this ourselves). This has been once of the best decisions we have made to date and we are looking for similar concept in NYC. We have been informed by friends that Phillips Club is similar, and based on what I have read on this website, it appears to be, but any additional insight welcome.

 

[stevens397]

The Phillips Club is lovely and is in a wonderful location. But from the photos I've seen Ritz properties, it is a big step down. Not a knock on the PC but the photos I've seen of Ritz properties make them look very special.

 

[sullco]

The Ritz-Carlton fractional on South Beach, Miami has been shelved due to their inability to obtain financing. This despite decent pre-sales. A commentary on the times.

In addition, the Ritz-Carlton fractional in the Turks and Caicos, which had begun construction, is another victim of the times. Its shell has been closed up to prevent deterioration from the elements and is not being finished at this time. They were victims of the Lehman Bros disaster.

Neither of these situations should detract from the quality of the Ritz-Carlton fractional--"Ladies and Gentlemen serving Ladies and Gentleman." Now there's a tag line.

 

[bdh]

Does anybody know the status of the RC planned for Northstar - is it proceeding or has it been put on hold?

 

[NeilGoBlue]

I was in northstar a couple weeks ago.. the ritz project is still on and they are selling the fractionals.. they had only sold enough fractionals for 2 units.. so take that for whatever it's worth..

 

[edlazarus]

Does anyone have any experience with the Ritz Carlton fractional ownerships? They have an established property in Jupiter, FL and I think they are building one in Miami area. Based on what I can find on-line, they sell in multiple week blocks (ie. 3, 4 and 5 weeks), so the entry price is extremely high. I don't think there is any type of exhage opportunity.

We now own at the Ritz Carlton Abaco Club. My wife and I found our way there almost by accident on our first visit and loved it so much we brought the kids with us a few months later to see how they would enjoy it. We became owners immediately thereafter. Not that we dislike our Marriott properties, but this is a whole different beast on a much higher level. Much more flexibility, many more amenities, and a reservation system in Abaco that doesn't lock you into set weeks or units. The one caveat is Abaco is a quiet place with lots of beach, golf, tennis, horseback riding, fishing. NO NIGHTLIFE. It suits our family perfectly, but if you like South Beach, or if you prefer Waikiki to Kauai, you would not want to be in Abaco. If you prefer quiet, this is the best place we have ever stayed.

 

[Ian Smith]

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Message deleted--ads are not permitted on this forum.

 

[pwrshift]

Unfortunately, 375 people found and joined HCC and when it declared Chapter 7 they all lost their money. Ouch.

As the economy and bad management weeds out a number of Destination Clubs, at least the RC brand looks like it will succeed long term.

I considered a Ritz-Carlton membership before becoming a High Country Club destination club member. I was pleased with the quality of Ritz amenities but was concerned with the price, their "exchange" program and their slow growth. At that time, Ritz was also non-committal about their future plans and the exchange procedures into new properties. It was explained to me that third-party developers license the Ritz name for some (all?) of the fractional developments and can modify the relationship of those developments with other Ritz fractionals.

It appeared too convoluted and expansive on the surface and I never investigated further as I then found High Country Club.

 

[bdh]

Info from another site on the RC at Northstar.

"The Ritz-Carlton Highlands, Lake Tahoe has just announced that it will officially open on December 9, 2009, in time for the ski season at Northstar. The hotel is perched mid-mountain at Northstar Ski Resort and will have scenic views of the Carson Range, as well as entertaining views of the ski mountain.

23 full ownership, The Residences at The Ritz-Carlton, will also be completed in December so that owners may enjoy their new mountain homes over the holidays. To date, 12 Residences have been sold."

 

[alwysonvac]

PROMOTION for the Ritz-Carlton Club, Lake Tahoe

https://www.ritzcarltonclub.com/landing/email/laketahoe/complimentarynights.html

Book by November 15, 2009 to travel between January 8, 2010 and May 31, 2010

PACKAGE PRICES STARTING AT $899
1 complimentary night when you purchase 2 nights (for a total of 3 nights in a
2-bedroom Club residence)

PACKAGE PRICES STARTING AT $1799
3 complimentary nights when you purchase 4 nights (for a total of 7 nights in a 2-bedroom Club residence)

Please complete the form and a Membership Advisor will contact you shortly. If you prefer to contact us by phone, please call 866-605-8666 and mention VIP code RCDC0916.

Details of Participation:

Travel dates are subject to availability. One offer per family, no groups. This offer is nontransferable. Travel must be booked by November 15, 2009. Travel must be completed by May 31, 2010. Accommodations include a two- or three-bedroom Club residence (maximum number of guests is six adults depending on the size of residence). Guests are limited to one signature experience per Club within a lifetime. Guests are limited to purchasing one signature experience every 12 months. Guests are limited to purchasing two signature experiences at The Ritz-Carlton Destination Club within a lifetime. Offer subject to change without notice. This offer is not valid in conjunction with any other promotion. Offer void where prohibited by law. The retail value of the Lake Tahoe package is up to $8,218. Cancellations and/or changes to reservations must be made no less than 30 days prior to arrival. Cancellations and/or changes made within 30 days are subject to the charge of one evening’s room and tax. No-shows will be charged for the entire confirmed stay. Complimentary and paid evenings must be used consecutively. The 30-minute Membership introduction offer is only for residents of the District of Columbia and the following states: AK, AZ, CA, CO, CT, DE, IL, KS, MA, MD, ME, MN, MO, NC, NM, OH, PA, NJ, NV, SC, TX, VA, VT, WA, WI, WY. A major credit card is required for reservation confirmation, and is required upon check-in. Travel expenses, transportation, additional expenses and applicable taxes, if any, are not included with this offer. A maximum of two additional evenings may be purchased. Nevada Seller of Transportation No. 2004-0105.

 

[partyguy33]

I`d like to get more info on the Ritz vacation club, I`m new to the timeshare arena. I also think 18k per year is too high, I was offered a beachfront condo in the Dominican Republic ( as fractional ownership ) and the condo fees are only US$6,000/year for the full condo, wonder how much it`d be if bought as a fractional, hmmm ( could be around $500.00 ). Then it`d make sense, the villa I was offered costs around the same price too:
http://www.goldenkeymanagement.com/fractional-ownership-villas.htm

I`m currently taking a vacation in Sosua ( DR ), kind of shopping around to buy something. If anyone`s got a direct line to the guys at the Ritz, please let me know, I`d rather talk to someone who already owns from them ( need real advice, not salespeople ).

WOW! That's about $53k per week. Not to bad I guess when you look at some of the Marriott properties where they are getting this kind of money at Marco Island or the Hawaii properties. So who has enough vacation time to take 35 days per year? The maintenance fees are 18k per year!! That's pretty rich for my type!! Thanks for all the info.