Exit Strategies?

[Doggy50k]

quote:Originally posted by Cogland

I had some information from HPB Management about something called The Holiday Property Bond.

I read the leaflet with interest and noticed that they have resorts throughout the UK and Europe.They seem to have answers to many of the problems that we face because you can cash in your bond at any time after 2 years for its unit value which is quoted in The Financial Times. They do warn that doing so in the early years will affect the value.

Maintainance costs are said to be met from investment so they claim annual fees to be just £100 per annum. I have no knowledge of this company but they seem to have been around for a long time and overcome many of the problems which we trying to find answers for namely a fair exit policy and affordable annual fees.

I have no connection with this company . I am a Diamond member and have spent 6 weeks at DRI resorts in the last 12 months. I wondered if there is anything to learn from the way these people organise themselves.
Regards

Yes - and the pigs fly backward over Tenerife...

If it sounds too good to be true it usually is - you buy a bond and can cash it in at any time - well, at least until you try...

Looks like another scam to me.

DRI need a proper exit strategy - I am sure it will come in time, however with our fees coming in at approx £2700 the fact that we and our relatives are getting over 10 weeks of holidays out of it, it is still a bargain.

Any exit strategy, as far as I can see at the moment, needs to be focussed towards the ageing members who may be less inclined to fly due to health and insurance issues who are left with little accomodation being available in realistic travelling distance.

When the official resale agents eventually come online I am sure much of this will be water under the bridge.

[Mavo]

I have brought this company (HPB) to the attention of DRI on at least two occasions in the last twelve months or so, latterly about 8 months ago.
HPB run a very successful singles club which facilitates the getting together of members who have become single via the loss of partners through a death or divorce etc. I thought it was a good and simple way of encouraging people to retain their membership once they became single.
 I did personally hand a HPB flyer /leaflet to Patrick Duffy but I have, to my disappointment, had no feedback from him.
 Their loss is the gain of someone else as because of the seeming lack of activity from DRI on it, I passed the info on to McDonalds (who I did get a thank you response from)

[Cogland]

Hi
Thank you for your comments. I dont think it is a singles club and it seems to have been around for a very long time. It is endorsed by TV Travel expert Judith Chalmers who says she has been a bond holder since 1989. Broadcaster Sue Barker also gives her approval and has been a bondholder since 2001. The trustee is HSBC and The securities manager is Morgan Sranley. It also claims that they are regulated by the financial services authority.
I think it may be worth the TST experts looking into this the website is listed as www.DiscoverHPB.com [nofollow].
I only have the advertising blurb which I think arrived with my caravan club magazine.
Regards

[Cogland]

I have had a quick search and found lots of comments on forums like Money Saving expert. The company seems to be respectable and many of the comments are positive.Main concerns seem to be lack of availability of popular resorts unless you book well ahead. ( sounds familiar). Some comment that they have not had their full investment back when cashing in bonds but even those complaining have had 60-70% back which is good when compared with Timeshare.

Its not a singles club but I have to say that it sounds a very similar club to Diamond with similar resorts in the UK and Europe. They also seem to attract the same age group. Holidays are booked on a points system but I could not obtain any idea of what sort of investment you would need to make to buy points so I cannot compare with Diamond. Its a bit late in the day for me anyway because for better or worse I have put my money with Diamond!

What I would say is that when the time comes that I can no longer travel I would be a very happy chap indeed if after many years of happy holidays I could hand in my membership and get 60% of my original investment back.

Lets hope the club comes up with something !

[Mavo]

Sorry but I think you misunderstood my post.
 I said that "they ran a very successful singles club"
 This prompted me to bring it to the attention of Dri.
 It was my belief that a singles club could be set up within DRI which would encourage those members made single, to not just cease their membership (if possibe) but to continue membership in the hope that they could get further value out of their membership and possibly meet up and holiday at resorts with people in similar positions to themselves.
 The HPB singles club is not like our area meetings which are member led and set up by willing members outside the unbrella of the club. The HPB singles set up is organised by HPB and has its own web link within the HPB web site where members register and are given a password to that area.
 They can then gain access to other registered members and link up with them informally. HPB also organise regular weekend breaks and get togethers of singles interested in meeting up.
 I do understand that the industry in general is now finally aware of the huge problem of the aging membership and is searching for a suitable solution. In the meantime elderly members wishing to opt out and finding it near impossible to do so are becoming vociferous on the internet and causing adverse publicity. Newcomers are deciding against "the product without an exit strategy" because of the difficulties of opting out later in life.
I put forward the idea of a singles club simply as a means for DRI to buy some time while a solution is found.

I do have access to HPB and all its products via a local widow who is not on the internet but is in the singles club and goes to some of these club arranged breaks.
 I get all the news letters etc. and pass them on to her. She also speaks highly of the club and its products.  

[Cogland]

Hi
I see what you mean. Sounds like a good idea for club and single members alike.
Regards

[Mavo]

quote:Originally posted by Cogland

Hi
I see what you mean. Sounds like a good idea for club and single members alike.
Regards

 I think it is hugely important that if we are to get members ideas adopted by the company then those ideas do have a dual benefit. By that I mean that we have to recognise that DRI purchased The Former Company for the exclusive possibility of making profits. In order to do so however they have to keep their customer base loyal and happy.
 Coming up with an idea that can only benefit the members has no chance of being adopted by the company and similarly an idea or  policy which only benefits the company can only lead to dissatisfaction within us the members (customers).