Since early in 2011 Bluegreen Vacations has been adding Manhattan Club timeshares to their inventory and selection process. They started off small that year buying two studio units out of the available 296 rooms.
This week, Bluegreen Vacations announced they are moving ahead with their purchase of the Manhattan Club for an undisclosed amount of money. They will start out with managing sales and then in a few years, complete control of the high rise hotel in Manhattan.
Bluegreen wants to ramp up sales at the Manhattan Club.
Bluegreen plans on renovating 2,500 square feet of space for sales! For those familiar with the Manhattan Club’s 20 year history, sales at this timeshare have been under fire for many years. Building a sales area is putting salt in the wounds of current owners who say the resort is already oversold.
Just last summer the original developer agreed to a settlement to a lawsuit in the amount of $6.5 million. A number of owners sued the Manhattan Club claiming that they had misled the buyers about reservations, selling their timeshare back to Manhattan Club, and the actual timeshare plan – conditions of use and ownership.
Many other complaints about Manhattan Club have been raised with skyrocketing maintenance fees being in the top tier. On average a timeshare owner has seen their maintenance fee rise 200% in 10 years. Most maintenance fees are over $2,500 for an annual use studio unit. When you add that to the $20,000 to $60,000 initial purchase price, daily housekeeping fee of $56 per day, and a small fortune for parking getting rid of this albatross is looking like a better option.
In addition there are claims of overselling the resort. They have 296 rooms to split up and sell. If everyone owned a week that would equal roughly 15,000 possible slots to fill. Today there are roughly 14,000 owners but no one seems to be able to get a reservation. And there are thousands of people who only own bi-annual or tri-annual usage. So the math can get really sketchy if you are trying to figure out if it really is sold out or not. I had no problem getting a room at the Manhattan Club yesterday on Tripadvisor.com for $300 a night. No wonder the owners are mad.
Confusion about Manhattan Club timeshare ownership plans
In the beginning, timeshares units were sold as a deeded week. That didn’t last too long. Soon weekend packages were sold separately from weekdays. You could buy a three weekend stay there and it was called the “Galaxy Plan”. “Flex time” was introduced so that you could split up your 7 nights at the resort into 7 individual days at different times. Your ownership could be annual, bi-annual, or tri-annual. It could also have the designation of Red Season, High Red Season, or Ultra High Red Season.
Continuing the confusion the “metals ownership” classifications were introduced: Platinum, Gold, and Silver. Each metal described how valuable the time of year was. One last variable that confused owners were the types of rooms available: Junior Executive Suites, Penthouse Suites, One bedroom, Studio, and Executive Suites.
Today they rent them out nightly as Metropolitan Suites, Executive Suites, One Bedroom Suites, and City Lights Suites.
Twenty two different types of timeshare interest were available at the Manhattan Club. It is no wonder the owners never really knew what they owned or how it was valued in comparison to other units and/or other timeshare resorts. And imagine a brand new sales person trying to explain all of this during the “90 minute presentation”.
Not gonna happen.
Thus the lawsuits came. And now Bluegreed whoops, Bluegreen wants to set up a sales shop there.
If I owned a Manhattan Club timeshare I would have already jumped off the Empire State Building by now.
If you want to get rid of your timeshare just keep reading for professional advice!
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