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Re: Manhattan Club Lawsuit (by Irene S.):

From: David Smerling <dsmerling@aol.com> Sent: Mon, Jun 23, 2014 1:11 pm Subject: TMC

My wife and I attended the Club's presentation held in Wakefield over this past weekend.

I learned several things, to the extent they knew what they were talking about, as follows:

1. There are 3 "classifications" of rooms -- owner's rooms, "hotel use" rooms, and Developer's rooms. We, the owners can only reserve from the pool of owner's rooms. I pressed, but they didn't divulge or know what relative amounts or percentages were contained in these groupings.

2. For several years now, all new owners were buying into this new "point" system. This created two tiers of owners.

3. And here is the problem from a "booking" perspective -- even beyond the developer's hold back of rooms. Points owners who have The Manhattan Club as their home base can reserve rooms 11 month's in advance. Then, any points owners worldwide -- not Manhattan club based -- can reserve rooms 10 months in advance. I was told the 11 month window means 100% of owners rooms are available and that the 10 month window gives you a 60% chance. So, by the time we regular owners can book at 9 months in advance, there is little if any rooms left to begin with.

4. Parenthetically, there are a lot of complexities involved with owning "points"-- and they are theoretically good, depending on the relative percentages of kinds of ownerships and whether the concepts they describe actually work in reality. But that's a discussion for another day.

David Smerling