Several weeks ago we attended a home show that showcased all kinds of ideas and products. Many vendors had raffle boxes with opportunities to win a new kitchen, windows, etc. My better judgement got the best of me and I entered many of these raffles knowing somehow I would be the “lucky winner” in all of them. Sure enough, about a week later I started receving calls about all of the products I had won. Of particular interest was the vacation to Florida, since Ari has never been to Disney World and has been begging to go for several years. All we had to do to claim our free Orlando vacation was visit Masanutten Resort and take their timeshare tour. They took a $75 deposit by phone and promised we would receive a $200 Visa gift card back at the end of the tour. Our tour reservation was set.
This past Sunday morning we woke up bright and early and began making the three hour one-way trek to the resort located outside Harrisonburg, VA. Once we arrived we were greeted by Andrea, a young and energetic local who would serve as our tour guide for the day. We hopped in Andrea’s car and she began showing us the sights. We drove past two well manicured golf courses designed by Arnold Palmer, ski slopes which were closed for the season, a skate park, several outdoor pools, an enormous indoor pool with countless water slides and activities, and finally to the timeshare condo where we were to envision ourselves enjoying all of these emenities. After a three hour tour I felt the area was nice and relaxing, although I felt it was nothing to write home about similar to another reviewer.
We ended our tour back at the lodge where it had begun, but now it was time for the sales pitch. Andrea showed us a piece of paper illustrating the offer to buy a timeshare condo for $26,000. But wait, if we take advantage of the FVPO (First Visit Primary Offer) we could save and get the unit for only $23,500. This offer was valid today only. Right then I was through. I never make emotional buying decisions and I never concede to an “offer” that is “valid today only”. So now we’re ready to go, but obviously they’re not ready to let us. When I told them I objected to the price, they pulled out the big guns and offered us a pre-construction two bedroom condo that wouldn’t be finished until next year for $12,000 or a one bedroom for $9999. This offer didn’t come with their illustrious gold card, but Andrea assured us she could get it thrown in. So wait – now we’re saving 50%. Still not interested. Andrea gives us our gift card voucher and directs us to another room to claim it.
Thinking we’re about to leave, we’re greeted by a gentleman in the next room who sits us down and asks us our hesitation. As I begin to say money, he quickly pulls out a pen and paper and says he can give us a once-in-a-lifetime offer of an additional 50% off the last best offer; now only $4999 for the one bedroom condo with a sleeper sofa. I’m baffled. In less then 15 minutes I’ve saved $20,000 for the same condo. I tell him “no”. Finally, he sends us to a counter where we are checked out and given our $200 gift card.
When we finally arrived home, I began researching the company to see if we had made an intelligent or foolish decision. Masanutten Resort is owned by Great Eastern Resort Company, which is somehow connected to RCI for their timeshares. You can find plenty of complaints online about RCI addressing a variety of issues. Can you imagine the kind of money the Masanutten Resort developers are making? We might have bought a condo for the original bargain of $23,500 for a weeks vacation (1/52) per year. If they sold 100% occupancy of just one unit, they stand to make $1.2 million per unit ($23.5k x 52 weeks) – and that’s assuming they don’t overbook the units! Of course some buyers will pay less, but with gold card memberships, annual dues, maintenance fees… you get the idea. I even found a posting on Monster.com hiring for their sales reps, who make 13% commission on each sale.
I’m not talking down timeshares or these type of vacations, in fact I know so little about them I’m completely ignorant. In theory they seem like a great idea, until you read the countless complaints of people who can’t get a reservation, didn’t get what they paid for, were charged unnecessary fees, etc. Until I know a lot more on the subject, I wouldn’t consider buying one.