posted 02-08-2005 15:42               

Apparently RVC is a 100% Point Based system and it apparently doesn’t matter which property you buy you buy at a GEM level. ALL owners can book 12 months ahead at ANY RVC.

An Emerald Level at The Miners Club cost $57,900 – good for any week at the resort in a 2BR. Week 51, 52, and 7 take Emerald and the rest of the ski season is Sapphire (one level down). MF is $1,370 per year.

Just talked with Whiski Jack and the same Emerald Level goes $30,700 and the MF is $908 (ownership is at the Westin in Whistler – a 5 or 6 star resort).

Say What?

What the heck is going on with RVC? This does “not compute”. Why buy at the Miners Club when its double the price at Whiski Jack?

How about resales? I just did a thorough search of my normal resale haunts and I can't find a RVC.

And what the heck is this master trust that expires in 2046? What the heck happens then?

I would appreciate any feedback.

Perry

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Have snowboard - will travel

posted 02-08-2005 21:08               

We are not points based but I do know that points base is part of the program. Steve Nelson said it best. RVC is one of the most complicated systems out there. Having said that, I get great use out of the system and will be enjoying my 5th week this year (February to February) for my 1 week ownership,

posted 02-08-2005 21:54               

The chart at http://www.whiskijack.com/rvc/matrix/matrix.htm is simple to understand.

I am a little confused if you use a week that is less than your level of membership and if you get multiple weeks at lower levels.

For instance if you own an Emerald membership and use a Sapphire week do you get a Platinum week and lesser weeks? E.g. A Sapphire, Platinum, and Gold?

The other concept that’s a little fuzzy is the ability to incorporate existing weeks into the program. We own 2 2BR and 1 Mini-Suites at the Park Plaza which is part of Raintree. They tell me that I can turn in the deeds and apply either points or money to Gem levels. The salesrep is going to find out for me (I hope).

Perry

posted 02-08-2005 21:58               

I haven't gone through the program in detail. I thought that there was some preference for returning to your "home" resort, but I could easily be mistaken.

Yup, they've managed to make the program incredibly complicated. That means that those who understand the nuances have an advantage over those who don't.

posted 02-08-2005 22:05               

An emerald can be split into two platinums. Each of the platinums, in turn, can be split into a gold and a silver. (There's also some bronze options, but I don't think bronzes are worth paying much attention to for must purposes.)

So that Emerald can be converted to two gold weeks and two silver weeks. Booking those into Club Regina during February, you can rent the platinums on eBay for about $600 each and the silvers for about $400 (net proceeds). If you have a high enough value ownership and you know how to split, you can defray or entirely recover your annual fees and be left with a reasonably nice unit to use yourself.

posted 02-09-2005 07:34               

the gems can be split up at a cost of $ 29 per slit
or can be combined.

so it is a points system - just with some issues at the beginning that make it a little obtuse

posted 02-09-2005 07:36               

if you become an rvc memeber they can be banked w rvc and converted into " gems" or kept for use.

posted 02-09-2005 09:14               

Thanks, I never heard of that, but it makes sense.

Perry

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Have snowboard - will travel

posted 02-09-2005 10:15               

I’m starting to get the idea the RVC is out of its league, I sent an eMail to their corporate HQ and the eMail was returned “undeliverable” Wow!

If I get more info I’ll pass it along, until then RVC has to do a lot of explaining to me why I should pay big bucks for their Emerald Week in Whistler.

Perry

posted 02-09-2005 19:55               

Since it does not matter where you buy an Emerald week buy at the cheapest location – Whistler (I still can’t believe it).

Perry

posted 02-09-2005 20:03               

I would also verify what your points represent. One couple we met had changed from Club Regina week to the point system only to find out that their points were considered RCI points and they were given units off the beach because they were like an exchanger taking the week. They were very upset. Clarify that info. with your rep.

posted 02-09-2005 20:57               

quote:

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Originally posted by PerryM:
Since it does not matter where you buy an Emerald week buy at the cheapest location – Whistler (I still can’t believe it).

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Yep - like buying RCI points. Buy where its cheapest.

posted 02-13-2005 21:16               

Just who owns the Raintree condos at Whistler and the Miners Club in Park City?

Is it owned by the Club? Is it 100% paid in full with cash with no loans?

Does a bank own the units and Raintree is making time payments?

Is the bank in the USA or Mexico?

What if Raintree defaults on payments? Will the lender foreclose and what happens to owners who own those “gems”?

I asked these questions from the Raintree sales manager at the Miners Club weeks ago and he never got back to me.

When I took the tour of the Miners Club and learned of the Raintree program it never occurred, back at Christmas, that Raintree might not actually own the condos and resorts it is selling memberships in. I guess I’ve been spoiled with WorldMark where all condos and resorts are paid in full and are in a trust that can’t be foreclosed on.

Here is a link to Raintree: http://www.clubregina.com/SoloSocios/RVC/Primavera2004/index_Eng.html

Perry

posted 02-14-2005 15:15               

Here is synopsis:

1. One of the subsidiaries of Raintree missed one payment last year. No finacial troubles.

2. As far as WJ is concerned, even if RVC goes belly up, the hoa would rule the roost so to speak. He said the same situation applied to other RVC properties too but we didnt go into detail.

posted 02-14-2005 18:49               

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geo

posted 02-15-2005 13:27               

As long as the unit has a deed with your name on it and there are instructions to handle bankruptcy or insolvency of Raintree that is a great assumption. My limited dealings with bankruptcies is that creditors are satisfied first and others get the leftovers.

Unless a lawyer reviews the documents that Raintree owner’s sign turning their unit over to the Raintree trust I would be very leery. I just have not thought of all the things that could go wrong with a point system based on a trust of deeds.

But, that just me.

When I talk with the WJ salesrep next I am going to try to get these documents.

Perry