I wrote a lengthy PM here answering questions about Worldmark resort membership details. Since it took me so long to write, I wanted to post it here to help anyone else interested in Worldmark. Here are the questions and my answers:


> So I've spent some time looking into this. I've never had a timeshare
> before, but it looks like you buy in at a given point level and can use the
> points to get a place to stay. It also looks like there are a lot of
> "details" that can effect the situation.

That's correct. If you have a 10,000 credit membership, you get 10,000 credits each year on your anniversary date. You apply those credits toward nights at various WM properties.

>
> My wife and I have a VERY flexible lifestyle and I can work from just about
> anywhere in the world (wi-fi is important). We can travel short notice.
> We can travel pretty much any season.

That's great, because credit values at properties vary depending upon the season: Red (highest), White (shoulder season) and Blue (off season). Some of the newer, more popular resorts are all red season.

>
> For the WM program, it seems to be different than other timeshares because
> you're not buying into a specific property, but into a point system that is
> valid at all properties. However, I'm sure that some properties at some
> times are harder to get into and/or cost more "points." Is that correct?
> How do you know what a stay will cost you? Is there a WM "points guide"
> that tells you how many points you need for a given property at a given
> time? Does it fluctuate?

Here's where you can see the different resorts and credit values: https://www.worldmarktheclub.com/resorts/

Remember, you're only looking at regular WorldMark resorts on that map (blue circles), not the affiliate resorts. The credit values are different from resort to resort and red/white/blue seasons differ from place to place. Generally speaking, at the "older" resorts (about 3/4ths of them) 10,000 credits get you one week at a 2-bedroom condo at the resort. 1 bedrooms are cheaper, 3 bedrooms are more. Newer resorts (like Anaheim) cost a lot more credits - 16,000 for a 2 bedroom for a week, for example. This is an ongoing problem with all new resorts - they are using higher credit values, which is probably against the club rules and is being done to benefit the developer/seller (Wyndham) at the expense of owners like me. Other than that ongoing problem, the credit values pretty much stay the same once the initial values are established. It should cost the same number of credits 5 years from now at any particular resort as it does today. Also, "newer" resorts doesn't necessarily mean "nicer". My favorite resort is Depoe Bay, Oregon, which is one of the oldest resorts. All of the resorts get updated periodically and are all generally nice places. Most resorts have barbeques on the patio, pools, game rooms weight rooms. Many have tennis, racketball, basketball, volleyball, etc.

Note that weeknights are less credits than weekends.

>
> You have annual maintenance fees, depending on your level of ownership.
> The more points, the higher the total maintenance fees, but since it's
> tiered, it may be less on a per-point basis. Does the maintenance fee
> change?

The maintenance fees are based upon how many credits you have and are in different tiers. I pay $158.50 every three months ($634/year) for my 10,000 credits. Those maintenance fees are the same for anyone in my tier (7,501 - 10,000 credits. Whatever amount of credits you should buy, you need to get to the top of your tier to maximize credits vs fees. It costs the same fees if you have 7,600 credits or 10,000 credits, but if you have 10,001 credits you are up to the next tier and pay more. Here is a schedule showing current fees: http://www.sellingtimeshares.net/worldmark-maintenance-fees-for-2012/

It's important to note that maintenance fees go up EVERY YEAR, usually by about 2 percent, I think. There are some limits to how much they can go up, but count on them going up a little bit every year.
>
> You can apparently trade into the II and RCI inventory, but it can be hard
> and/or cost additional money (membership) and you still may not get what
> you want. It seems like trading into other systems is somewhat "iffy" and
> shouldn't be counted on.

Lots of owners do this - but I don't. So I don't know how it works.

>
> You can roll your points over ("bank" them) for some period of time (how
> long and do they become "use or lose" at some point). How much can you
> bank and when do they go away if not used?

I think you have 2 years to book (not use) your credits before they expire. If you accumulate credits that you can't use, you can always "rent" them to another owner for 1-time use for cash via a private sale. The going rate for one-time "rental" credits is about 5 to 6 cents/credit. If you need more credits, you can also borrow up to a year in advance without any penalty/cost. I'm always borrowed up to my limit every year and then borrow again when I get new credits. I sometimes rent additional credits from other owners.

>
> It seems like 5,000 points - 10,000 points is the most common level. Is
> that a good level to get into a nice place?

The strict occupancy limits is the thing to worry about on how many credits to get. Most 1-bedroom units will sleep 4, most 2 bedroom units will sleep 6. There are some exceptions. I'm glad I have 10,000 credits - I can count on getting a 2-bedroom unit every year or I can rent more credits if I need a bigger unit or a newer location. 4 years ago, it cost me about $6,500 for my credits. Now you can get 10,000 credits for about $5,000.

>
> Other than the maintenance fee, is there any other charge?

No other charges at all - and this is nice. You can reserve and cancel without penalty up until the cancellation deadline. If you are booking a year in advance, you have until 60 days before your reservation to cancel without penalty and you get all of your credits back. If you reserve a unit for a few weeks away, you have (I'm guessing) until 2 days before the reservation to cancel.

The only additional charges are if you book rooms for cash, not credits. You can book "bonus time" rooms for yourself within 14 days (for guests - 5 days) of your reservation date for about 6 cents a credit. You can book "inventory special" rooms 90 days in advance for 5.2 cents a credit (resorts go on "inventory special" when they expect lots of free rooms). There is a minimum charge of $40/night for these deals.
>
> How hard is it to book into where you want to go? How far in advance?

It's tricky to get high demand rooms during high season. Plan on booking 13 months out for those high demand units (13 months out is the max advance booking limit). You can also have up to 8 waitlist requests pending to get a room if it becomes available. Lots of people book and cancel freely, so rooms often become available later.

Also, if your reservation is more than 60 days out - you MUST book for 7 nights, unless the room is only available for fewer than 7 nights. (I just booked a reservation in Victoria for only 5 nights for next summer because that particlar room type only had 5 consecutive nights available and was not available before and after that 5-night period. You can also string several resorts together to get to your 7-night minimum reservation (3 nights here and then 4 nights at a different spot, for example - as long as it is 7 nights in a row).

My strategy: As soon as I get new credits, I'll make a reservation somewhere I might want to go 13 months later. As the year goes on, I'll probably make a few wait-list requests or change my reservation to a new place. During the year, I'll probably stay in a few "bonus time" reservations and a couple of "inventory special" reservations for cash. I also usually let some friends I trust book inventory special or bonus time rooms using my account.

Final thoughts: I REALLY like my Worldmark membership. Other than the initial cash outlay, it costs me about $630/year, which basically gives me 7 days in a 2-bedroom fully furnished condo at a nice resort and access to numerous additional last-minute reservations at off-season resorts for dirt cheap prices. If it was just my wife and I, I can get last-minute rooms via Priceline or elsewhere at a nice hotel for a decent price. But Worldmark has been perfect for my whole family. We have created lots of great memories as a family with our Worldmark membership.

For anyone considering Worldmark: DO NOT BUY FROM WORLDMARK/Wyndham. Buy resale from a reputable seller and save at least 70-percent. $3-6k resale is a MUCH better deal than $15,000 - $20,000 price you'll get at a timeshare presentation.