Original Message:
Re: Global Travel Network - has anyone used this? Pros and cons? (by Steve M.):
I have received a number of solicitations from this firm, with all kinds of great sales talk. But when getting into the details of what they are offering, I could not see the benefits for the price.
One of the problems with this type of a club, is how long they HAVE been around, and more importantly, how long the WILL be around. Your membership is only good for as long as the club, or time share resort you buy into lasts. And there are clubs and resorts going into bankruptcy every day. Do you actually OWN anything with this, or is it just a promise of benefits in return for a hefty front fee?
Your posting stated that in addition to the $5100 buy in you are paying a fee for each week you book. Have you looked at the prices being charged for booking stays at the resorts you want to travel to, at the current prices being charged by the owners?
If you are paying $250 a week plus an annual $150 in fees, for a room you could get outright for $500; you have to rent 50 times to just break even if you only use one week a year. Use two weeks a year, and your down to 14 years to break even. Jump to 4 uses a year, with 1000 in fees for the rooms and 150 for the annual fee, and rooms that could be rented outright for 500, and your still at 6 years, just to break even.
And I have heard horror stories about people who quickly find that they can only get reservations in the off season, when the resorts would otherwise be offering huge discounts anyway.
I guess my question to you is, have you really calculated exactly what your getting for your membership. Do some research to see exactly what the going rate is to rent weeks at the resorts of your choice, the weeks you want; and compare this to the costs using your membership. If it is taking 5, 10 or more years to just recoup your investment, them you might want to make use of the opt out clause and rethink your decision.
If on the other hand, your travel choices and the prices you would pay to rent from existing owners at the resorts, versus the cost of the membership proves to be in your advantage, then by all mean enjoy your savings.
The number one mistake I think most people make is to look at a single years savings, and forget you paid a hefty price to get that savings. You need to map out 5 or 10 years of planned travel, and compare the cost of renting directly from owners at the resort, since there is nearly always owners who can't use their stays; with the price to use the same rooms, the same weeks at the same resorts through the Club. On the one hand, you have the price you pay the owner to rent, plus any resort surcharge, if any. On the other hand, over say 5 years, you have the original $5100 investment, plus five years of annual fees at $150 ea, plus the $250 reservation charge for each room. Do the math, and you will either be shocked, or pleasantly surprised. Either way you will know if your decision to buy was the right one.