Vacation ownership and being a Club Wyndham South Pacific owner means, in simple terms, that you own your holiday time and holiday properties together with all other club owners.
Traditionally, timeshare meant that you would purchase fixed amounts of time (or fixed weeks) in specific apartments or locations. However, in our club, you are issued with vacation credits (sometimes referred to as points) which is a more modern and flexible way of owning timeshare. Vacation credits are a form of holiday currency.
During the life of an average person or family, money spent on the rental of holiday accommodation can be substantial, while owners of vacation credits in the club pay a once-only acquisition cost plus annual levies to own their holidays year after year for the term of the club (currently until 2080).
Our type of vacation ownership allows you to book stays in a range of holiday destinations for different amounts of time each year, making each holiday exciting and unique. Vacation ownership is also an asset which can be sold, transferred, or passed on as a gift or an asset to children or grandchildren – that is why we say club ownerships provides a ‘lifetime of holidays’.
You can choose to use your credits the way you want to depending on the number of vacation credits you hold and use. The number of credits you need for each holiday will depend on the location of the property you select, the size of apartment and the time of year.
Additionally, while traditional hotels usually increase their room rates each year, our owners are protected from inflation on the vacation credit exchange value for current club apartments as these values will not increase. The exchange rates of vacation credits at a specific property today will be the same until 2080.
When you purchase vacation credits in the club, you receive a beneficial interest in the club’s assets in proportion with the number of vacation credits you own. On the winding up of the Club, you will be entitled to a share in any net asset (being club assets less all liabilities), in proportion to the amount of vacation credits held.
Vacation ownership is a lifestyle purchase. It can help you enjoy amazing holidays more frequently, often in some of the world’s most exciting destinations. If you don’t like travelling, vacation ownership may not be suitable for you. If you do enjoy holidaying, though, you may find that vacation ownership provides a very different experience to one-off stays in hotels, which is why so many Australians love their timeshare ownerships.
Premier owners receive an annual allocation of vacation credits which are valid for two years. They exchange their vacation credits for accommodation in the club. Each club apartment is assigned a vacation credit value depending on the location of the property, size of the apartment, length of stay and date of stay.
You can use your credits, borrow them from the upcoming year or save existing credits for up to two years to have longer stays or increase your options in the current year.
Depending on the number of vacation credits you have acquired, you can:
In Australia, timeshare is regulated as a managed investment scheme under the Australian Corporations Act 2001. Wyndham Vacation Clubs South Pacific Ltd holds an Australian financial services licence (AFSL) allowing it to provide financial product advice, issue interests in and operate the Club. In order to obtain and maintain this licence, we must comply with numerous regulatory and compliance requirements including the requirements of the Corporations Act, the terms of the AFSL issued by Australian Securities & Investments Commission, the Club Constitution and regulatory guidance issued by ASIC.