Dive resort time share poll.....

[scubaingbob100]

Question for you divers...

Im looking at a gorgeous property ( warm all year and awesome diving) that i was thinking about turning into a dive resort timeshare. Here is my thinking and ideas and would love to get some feedback..

Efficiency unit just several hundred yards from gorgeous reef- To own 1 week per year
$1500.00 usd

It has a nice handful of fully furnished efficiencies and site on a beautiful island.

Monthly fees for owners $100 - upkeep-management-etc.

has a beautiful dining area- beautiful bar-and just a gorgeous quiet peaceful place.


Most dive rental timeshares ive found are renting their weeks at $1500 per week and at that price you would own it.

only other expenses which would be reasonable are

round trip to and from island
food
drinks
equipment rental


there would be several employees full time and a husband and wife team full time also.



WOULD JUST LIKE EVERYONES OPINION ON THIS PROJECT...

THE EFFICIENCIES ARE FULLY FURNISHED AND JUST VERY NICE AND PEACEFUL.

SNORKELING TRIPS ALSO WOULD BE AVAILABLE...


just feet from shoreline :cool2:

if you reply to my poll here please also send answer to
scubaresorttimeshare(at)yahoo.(dot)com

 

[DeputyDan]

If monthly fees are $100 does that mean they are $25 a week?
If its ocean front I don't believe that would cover your costs - let along provide any profit. The ocean is unforgiving on man made structures and upkeep ain't cheap.

Personally I would not buy an efficiency and it would depend on the island as to whether I would purchase at all.

I would not buy an efficiency because I have a family of four and the only island we consistently return to is Bonaire.

 

[Doc]

Would I invest in it? Not likely anyone would, not with that jumbled description.

Would I want to buy a week for $1500 from somebody that got involved? Depends....

- How many would it sleep ?
- Where is it located near this "awesome diving" ?
- How bad are the airlines currently hosing us for airfares to this spot in paradise?
- If all I have to do is rent equipment and it's a few feet from the shoreline, how do I make it out those several hundred yards to that gorgeous reef ?

 

[Ontwreckdiver]

I would not buy a timeshare anywhere, they are too expensive, and you would feel obligated to go to your timeshare every year because of the money you have in it, and we like to travel to different places. As an example, we went to Cozumel this spring for $592.00 (+taxes) per person all-inclusive at the Iberostar Cozumel. This price also included flight and transfers. The cost was cheap enough that we could eat out a couple of times. We don't go on vacation to go buy groceries, cook meals, and do dishes, we can do that at home. We go on vacation to relax and have someone else worry about that stuff.

IMHO, you don't own anything at a timeshare, you just rent the SAME unit for the SAME week every year. If you truly owned it, you could go there any time you wanted too.

 

[driftwood]

A friend of mine was looking into turning his hotel in Cabo into a timeshare and I ran the numbers for him back in '99. The numbers were amazing. Modern piracy at it's finest. Lot of money to be made in timeshares and that is the reason a "street hawker" can get $200-300 for each couple that takes a "tour" of the property.

 

[Damselfish]

Monthly fees for owners $100 - upkeep-management-etc.
...
Most dive rental timeshares ive found are renting their weeks at $1500 per week and at that price you would own it.

Maybe you'd own it. but you'd still need to "rent" it by paying the maintenance fees, whether you use it or not. $100/month meaning $1200 annually for that week you own, I assume? On the high side for timeshare maintenance fees. Not sure why anyone would pay that when you can rent for less, at lots of places.

 

[ColoDale]

I have place that is not quite a timeshare, it' based on points so I am not locked into a week and it's not use it or lose it. We have used it about 40-50 weeks in eleven years and have had friends use it as well.

A week offseason can cost me about $390 US which is my points use and maintenance fee. Even in high season and for the highest category of accomodations, the maximum is about $700-800 US per week. Both can sleep four people though I don't do that.

Buy-in aside, the $1200 per year in management/manintenance cost is high especially for what is called an efficiency. I don't know the cost per unit to maintain them but this seems high to me.

Our place is on the beach with easy access to diving.

In my opinion, and since we don't use packages that much, airfare cost and flights to the desination drive the trips unless meal cost or diving costs are high. If I had high maintenance fees and high airfare/limited flights, I would be paying too much.

Given the costs and what you have described, I would not buy into it. I can take advantage of packages or rentals cheaper (depends on location tho).

 

[Scared Silly]

I would never buy into a time share as it seems like they are pretty much acknowledged to be a money pit. Great for the "owner" though.