Point Programs

Resort points are the new timeshare wave sweeping the industry in more ways than one.   It seems every year some other developer or hotelier gets in on the action by offering a new program.  Here's how they work.

Points are a script system for a right of use or ownership of a timeshare resort.  Much like your bank account represents the money you own or control, points in an account represent the time you own or control in a timeshare resort. There are positives and negatives to each point program and not every point program is equal in just what they represent or how they ultimately work.

Some point programs are backed by deeded property that you actually own and simply cede to the point program to gain the points in an account rather than control of the week.  Other point programs are sold as a "right to use" usually for limited period of time.  These don't give the benefit of ownership in the property but rather just the right to use the property for the period of time specified.  Still others are memberships in vacation clubs that don't deed the property but again simply give use rights under the rules of the club.

Points came about as a result of vacationers desiring totally flexible vacation programs that allow for less than seven day stays and more options of use.  Points seem to deliver this flexibility but it comes with price.  When points are used for less than a seven day stay at a participating resort a premium is paid each time.  In other words it take more points to check in for one day than it would take to check in for a week divided by seven.

Points can also be used to rent cars, take cruises, pay for activities and hotel rooms in participating hotelier programs.  All of these also come with premium paid each time in the form of more points spent for these options.

A quick way to tell if you are getting good value for spending your points is to equate the maintenance fee paid to the number of points received and then comparing the price paid in points to the dollar amount you would ordinarily spend on the item.  In most cases spending the cash instead of the points works out to be the better bargain.  Even though the developers of these programs make them sound like the best thing since a feather bed make sure you understand exactly how they work and just what you are really getting for your money. 

Point programs can be confusing and developers place many restrictions both on the use and in some cases the sale of them to third parties.  These restrictions can severely affect the value of some programs if you ever wish to sell them.

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