posted 04-25-2005 11:58               

1) A resort withdraws from the program?......or

posted 04-25-2005 14:35               

quote:

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Originally posted by abelee:
What happens to a person's RCI points account if:

1) A resort withdraws from the program?......or

2) The resort goes bust and closes?

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IMHO, I believe this is true

1. if a resort withdraws from the point system or RCI, they would trade with the new system under the new rules.

2. If a resort closes for good, you don't have a timeshare to trade any longer so you would get no points any more.

Good Luck

PS Why do you ask?

posted 04-25-2005 15:23               

quote:

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Originally posted by chris209:
That is interesting! I suspected as much but in my research I have read that you are just buying points and "points are points" and independent of where you bought them. Very confusing!

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Points are not Points Points come from you trading a week at your resort to RCI and RCI giving you a set number of points for that week. As I said if your resort goes bust or the demand for your resort goes way down, you'll get less or no points. Only after you get points from RCI is the saying "points are points" true.

Hope that helps.

posted 04-25-2005 15:41               

quote:

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Originally posted by Bill4728:

[b]Points are not Points Points come from you trading a week at your resort to RCI and RCI giving you a set number of points for that week. As I said if your resort goes bust or the demand for your resort goes way down, you'll get less or no points. Only after you get points from RCI is the saying "points are points" true.

Hope that helps.
[/B]

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posted 04-25-2005 16:54               

What happens to a person's RCI points account if:
1) A resort withdraws from the program?......

If your resort decides it no longer wants to participate in RCI Points and stops allowing additional coversions to points, but stays with RCI, then as long as you continue to pay all your fees to RCI and the resort (MF) you continue as a points member.

There are about 30 +/- Tuggers that bought at Sandy Point in Australia and converted to points. At a later date the management company changed. With the managenent change came a decision to no longer participate in RCI Points. But since the resort is continueing with RCI weeks (lots of owners), those of us that are in points can remain in points so long as we continue to pay our MFs and RCI Points membership fees. I was allowed to re-up for 3 more years with no problem.

Patty

posted 04-25-2005 17:58            

quote:

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Originally posted by abelee:
There is something called "pure points" within the RCI system where I believe mf's are paid directly to RCI. Is anyone familiar with this form of points? How does it work exactly? How common is it ?

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"Pure points" exist only in the RCI Europe system. (Neither RCI North America nor RCI Pacific has any such thing.) I do not own any "pure points" nor am I eligible, so I bow to any European member who corrects what I am about to say.

As best I understand, RCI Europe accepts developer weeks (unsold weeks) and turns them into "pure points" (points owned by no one). These all go into a common pool.

Developers can (and do) sell these points as part of a package deal. Buy a unit at our resort which is worth 60,000 points (arbitrary number picked for the sake of illustration) plus 20,000 "pure points" (again an arbitrary number) for a total of 80,000 points to use. You pay maintenence fees at our resort, plus maintenence fees on the "pure points."

RCI Europe wins by getting more units into the trading pool. Developers win by getting maintenence fees on unsold units. Buyers win (a very big maybe here) by getting more points to use.

The big complaint against "pure points" has been that the maintence fees are high, and, because of that, they are hard to sell. (I suspect that they are high because they are an average of the maintenence fees paid at the newest, most glamerous resorts.)

On another topic, in response to one of the OP's two initial questions: "What happens if you own points at a resort that goes belly up?" Same thing that happens if you own a unit at any resort that goes belly up (points or no points) -- you are SOL. Thre is nothing magic about points that protects you against a resort that goes bankrupt. On the other hand, owning a Weeks resort provides you with exactly the same amount of protection -- none.

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Owner since 1996 (a paltry one)
TUG member since 1997