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ACCOR'S Premier Vacation Club

Discussion in 'General Hotel Loyalty Discussion' started by Rick93, Jun 15, 2004.

  1. Rick93

    Rick93 Established Member

    Nov 10, 2002
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    Has anyone else fronted up to one of Accor's Premier Vacation Club (APVC) presentations?
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    I went to one the other day (along with the misses, as by Accor request).

    We were well impressed with the product... it really does seem to be great value, if you have the funds available. We didn't take up their finance offer on the day of presentation.... so, if we decide to find our 'own finance', we get the lesser deal ($3,000. added to the product cost; no free discount card; no free catalogues of properties etc. etc.)

    What do others think of the APVC? Good value????

    regards,
     
  2. redrat

    redrat Member

    Apr 26, 2003
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    Vic
    See if you can get an invite to a Trendwest seminar. That is definitely timeshare with a difference. Unfortunately I'm building a house now but I'll give them a go again in a couple of years.
     


  3. kristo

    kristo Intern

    Feb 23, 2003
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    Just be careful with the timeshare prices you pay, one of the organisations mentioned above is selling "units" for over $2 each.
    People are selling them on the secondary market for 0.99c each!
    (Less than half price) Presumably the difference is salesman's commisions and profits etc but you can avoid paying this.
    This organisation is capitalising units at 50c each?
    Read the prospectus in detail first and check other options eg the secondary market.
     
  4. straitman

    Moderator

    Apr 27, 2003
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    Absolutely.

    There are many timeshare resellers out there where you are able to pickup weeks and/or points for a fraction of the "new" cost. :roll:

    Timeshare works really well IF you are going top use the holidays. Like everything else if you don't use it you lose it. If that is likely to be the case just send the money or the accommodation details to me and I promise that I'll send you a really nice postcard :!:

    Several years ago I bought a "second hand" week for 10 - 15% of the new cost. If in doubt just look in the Melbourne (or anywhere else) Trading Post. :idea:
     
  5. kristo

    kristo Intern

    Feb 23, 2003
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    The way timeshare is sold with massive promotion and advertising costs and sales commissions etc etc I would consider anything over 50% of retail a high price to pay especially when most are capitalising at 25% of retail price. This form of capitalising depends on a steady flow of retail sales at 4 times the capital value just to sustain its present value.
    One of the companies mentioned above is doing just this.
    I suggest you read the prospectus in detail and obtain independent professional and trusted advice prior to getting involved in these schemes especially if you are considering paying any more than 50% of the retail sales cost.
    Having said all this if you can get Trendwest at 0.80c you are probably paying fair value at todays prices.
     


  6. Rick93

    Rick93 Established Member

    Nov 10, 2002
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    The above comments are appreciated... however.... they really don't seem to be appropriate to the ACCOR offer.

    Do you guys know the offer I was referring to?

    Briefly, each Member gets an allocation of 'points' per calender year (for the next 80 years - pretty much the rest of your life - but the scheme can be passed on to a nominated relative, should you die before the 80 years is up).

    The number of points depends on 'status'. status is purchased on entry to the scheme, or can be 'upgraded' at an additional cost in later years.

    Example: 'Platinum' level = 5,000 points per year.

    Points usage is extremely variable.... from about 4,000 points for a week at the Disneyland Resort during school holidays to about 100 points per night at the Mercure Broadbeach (general example)

    A directory comes with the 'package', detailing properties around the world, and in Australia.

    Members can use their points sll at once, in blocks, or save points for up to three years, to use all together.... there are a variety of combinations to use. You chose how YOU will get BEST VALUE.

    The scheme is not only for hotel accomodation... but cruise liners as well!

    There is an online 'last minute' vacancy list, where Members will get heavily discounted 'offers'. At the 'presentation' I recently attended, the cruise offer example was a two week cruise in the Mediteranean (spelling?) for 1,700 points per person. How much is this worth?

    Of course, there is a 'whole' prospectus of the details....

    Entry price for the Platinum level was about $23,000. (Usual payment type finance plans available, ie., 10% deposit etc.

    It really seemed very good... if you had the funds at the time....

    You needed a min. 10% credit card deposit on the day. The sales 'pitch' was... if you don't take the offer on the day of presentation... then you are charged an additional $3,000. or you can't 'buy in' for another 12 months! (why I don't really know - just to make you sign there and then!)

    So, now what do you think? Is this what you thought it was???

    regards,
     
  7. arun

    arun Member

    Sep 5, 2002
    311
    0
    Sydney
    Sorry, it is not a direct answer to your question. You may also want to check on any ongoing costs. A friend of mine joined a similar scheme and he was required to pay an annual "maintenance fee" as well - a couple of hundred dollars.
     
  8. Rick93

    Rick93 Established Member

    Nov 10, 2002
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    Yes, there is that 'small' maintenance fee of about a hundred a year....
    but for those who stay in 4 - 5 star hotels for more than say 20 - 30 nights a year... what's a few more hundred dollars?

    If you 'previously' spent an average of $120. a night for twenty nights.... that's $2,400. a year, over twenty years... that's $48,000.

    These type of schemes give you that for 80 years... for about $23,000. plus a few hundred in maintenance costs.

    I guess I'm looking at what I see as the 'positives'... there are a few 'risks' noted in the prospectus, but these are the same for investing in traditional property investment schemes .... downside in market, loss of market share etc. etc.

    Anyway, I've given a few people an idea to explore... should they wish to investigate...

    regards,
     
  9. kristo

    kristo Intern

    Feb 23, 2003
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    Beware, Accor is selling the units for $4.60 each. A quick look at timeshare resales shows they are selling for $3.50 each on the secondary market.
     
  10. Rick93

    Rick93 Established Member

    Nov 10, 2002
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    Kristo,

    I think maybe there is more than the one product here!
    This scheme doesn't have a 'unit' price. It goes by 'status', like QFF. It's 'points' based. I didn't notice anything about a 'unit' price in the prospectus, nor was it mentioned at the seminar.

    regards,
     
  11. Rick93

    Rick93 Established Member

    Nov 10, 2002
    1,111
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    Kristo,

    I've just had a look through the prospectus (Product disclosure statement), and I think I know what you're talking about.

    The current price per POINT, at the Platinum level is $4.6380 for this year. This means that if you wanted to upgrade to say 6,000 points per year... you would need to pay $4,638.00 to get 6,000 points per year for the remainder of the 80 years. (as opposed to you getting your current 5,000 points that you have already paid for).

    regards,
     
  12. kristo

    kristo Intern

    Feb 23, 2003
    61
    0
    When I refer to "units" , I mean points, digits, shares, bits , peices or whatever unit of value they use.
    The points they sell retail for $4.60 each are available on the open market for $3.50 or less. That means they drop 25% in value from retail immediately you buy them.

    What is the prospectus capitalising them at?
     
  13. arun

    arun Member

    Sep 5, 2002
    311
    0
    Sydney
    "but for those who stay in 4 - 5 star hotels for more than say 20 - 30 nights a year... what's a few more hundred dollars?"

    Okay. BTW - 2-0-30 nights - is that for business or leisure (private) Gordon :p
     
  14. straitman

    Moderator

    Apr 27, 2003
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    Gordon,

    My comments were deliberately not specific to the ACCOR offer as I was refering to the fact that this is just a variation on a theme. (and there are quite a few out there)

    I have friends who use this scheme, friends who use the Trendwest scheme and I have regular timeshare. They are all better or worse depending upon what you want.

    You need to look very carefully at what is being offered and assess if it is right for you. The trick is to join the scheme that is most suitable for you at the best possible price. Similar to getting the best value for your FF points.

    That is why I was alluding toward resales :!:

    Goodluck,
     
  15. Rick93

    Rick93 Established Member

    Nov 10, 2002
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    arun asked if usage can be for both business and private... of course! How would they know WHY you are staying O/N in one of their hotels? (unless you're carrying lots of stuff backwards and forwards...)

    There's been plenty of 'beware' type comments made here.... I was hoping for someone who is an actual Member to come forward, and tell us their TRUE experiences.

    Anyway... I think that a 25% cost of resale is quite acceptable, as you may have held your points / shares / units etc. for several or even ten to twenty years. You may have gained the benefit of hundreds of nights of accomodation worth thousands... so, selling out at 75% of your original cost seems OK by me.

    Can anyone tell me which car they can buy, use for several years, then get 75% of cost price when they sell???

    I rest my case.....

    regards,
     
  16. straitman

    Moderator

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    Mercedes, BMW, Subaru.
     
  17. Rick93

    Rick93 Established Member

    Nov 10, 2002
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    Doh!

    (There had to be someone!)
     
  18. straitman

    Moderator

    Apr 27, 2003
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    Using your car analogy again. Why pay full price when you can get a demo model for 75% of full price? :(
     
  19. kristo

    kristo Intern

    Feb 23, 2003
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    In fact why pay demo price when you can get the car even cheaper at auction only a year old with full manufacturers warranty?

    But back to timeshare, if most timeshares are available at 50% off full price on resale at the same time they are selling at full price to the "succers" so to speak, then you would most likely get considerably less after 10 years or more as the buildings are aging and depreciationg in value. Also if they continue to capiatlise at 25% of full price as a lot do they will still fall even further as the market for "succer" full price buyers dwindles.
     
  20. Rick93

    Rick93 Established Member

    Nov 10, 2002
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    Guys, I normally wouldn't bother arguing over something like this issue...
    I didn't think this was going to be the response/s.

    But, I still think some of you are thinking of this program as something else. It's not like 'timeshare' for a 'block of flats' in Coffs Harbour. These are mostly 4 star hotels in major cities or tourist sites. You can't say that the building will depreciate, and therefore it's a 'bad' investment... what about land value increasing?

    And another thing... this statement of the shares being "freely available on the open market..." LIKE WHERE??? What open market? I've never seen this program advertised anywhere! So, how do you buy in SECOND HAND? If it's so "freely available..." then please, tell us all where to buy them!!!

    regards,
     
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