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Home > New Archive > How Our Maintenance Fees Rank in the Industry |
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How Our Maintenance Fees Rank in the Industry
By Dave Herrick, Senior Vice President
WorldMark by Wyndham Hospitality Division Two primary goals for WorldMark, The Club are to maintain the financial health of the club over the long term, and to make certain that resorts and support systems provide owners with a high level of customer service, great vacation experiences, and a sense of pride in their ownership. In order to achieve these goals, a modest increase in maintenance fees is often necessary to absorb the steady and ongoing increase in operating costs. WorldMark by Wyndham’s professional management team continuously monitors and evaluates industry maintenance fees. This ensures that increased WorldMark maintenance fees continue to provide owners with a rate structure that maintains the value of their ownership, and also competes with the vacation ownership industry as a whole. Such an evaluation of industry maintenance fees was recently completed. In this analysis, we compared 2006 WorldMark dues with maintenance fees for 143 one-bedroom and 192 two-bedroom condos from a variety of timeshare resorts. As in past evaluations, WorldMark, The Club maintenance fees turned out to be very competitive: below the industry average for both one-bedroom and two-bedroom units. In order to compare the points-based WorldMark by Wyndham program with other non-points-based programs, the credit value for one week in an average WorldMark one-bedroom unit and an average two-bedroom unit was determined. As described in the table below, the average weekly credit value of a one-bedroom unit in the WorldMark system is 8,321 credits; the average weekly credit value of a two-bedroom unit is 9,853 credits. Based on our 2006 dues schedule, both credit amounts would generate an annual maintenance fee of $499—below the 2006 industry average of $512 for a one-bedroom, and $614 for a two-bedroom. Additionally, the calculation for the industry average does not include the additional overlay fees many vacation clubs assess their owners when participating in multi-resort point-based programs like ours.
Given the competitiveness of our maintenance fees, WorldMark owners can be assured that we’re working to minimize operating costs, ensure the long-term financial health of the club, and deliver stellar customer service and outstanding vacation experiences. |
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