Thread by @drprashantmish6

If you want to take any holiday club membership that please read my thread to know what will happen to you
1 - When you join their membership first they will asses your income and offer their membership to you accordingly, generally they offer lowest level membership

So lowest level membership will be very cost effective according to their presentation and you will start thinking that you got discounted membership in world class resorts but when you start planning of holidays then you will get Resorts of Rajasthan in April and May

and you will get hill station in December and if you want to travel hill stations in summer the you will get 👴 Baba ji ka thullu
2- Then their representative will call you and will tell you that upgrade to better membership by paying some money

And you will fall in that trap and you will pay extra and you will get better membership but still you won’t be able to get desired resorts and ultimately you will pay extra and you will get premium membership .

Now with premium membership you may get desired resort but you need to sit in front of computer screen 4 months prior to your preferred date of booking (like Tatkal ticket ) and 2-3 days delay May spoil your vacation program because then you won’t get desired resort

So ultimately you will end up by paying 6-8 lac for premium membership and need to select your resort 4 months prior to enjoy vacation
3- now at the end of year you will get maintenance charges email - which may be around 16000-20000 and every year it increases with inflation

4- so 6-8 lac membership fee and 16000-20000 annual maintenance charges, if you deposit 8 lac in IDFC bank then they are offering 6% interest rate 😜means you will get 48000 every year plus 16000-20000 AMC - means 64000-68000 every year for 7 day stay only

5- now this is only for stay, food and travel extra so you may end up effectively by paying 1.2.to 1.4 lac for 7 days holiday, now check holiday packages from online travel site and compare and then decide.

So decide whether you want limited location and 3-4 months advance booking holidays or unlimited locations with booking according to your convenience .

This 8 lac deposit in your bank account will remain in your account and you will get interest on that while in holiday club membership 6-8 lac will be with holiday club not with you .

Another interesting aspect is that even if entire country is in lockdown because of COVID still you need to pay Annual maintenance charges otherwise you won’t get reservation in resorts for next holiday.

Another thing is that they will not directly ask for income they will ask about your car ( indirect assessment 😜)

So Annual maintenance charges of one club is around 16000-22000 for different categories so you are paying 2500 to 3000 per day of holiday ( for 7 days holiday) even if you are not using it and remember this is only for room , you need to pay extra for everything .

Suppose for 2 yrs you haven’t enjoyed vacation still you need to pay annual maintenance fee and suppose you want to enjoy accumulated days in 3rd yrs and you don’t pay maintenance for 3rd year then you can’t enjoy accumulated days ( despite you paid maintenance for those 2 yrs )

If any club membership reaches to 2 lac then only by your annual maintenance they will get 300-400 Cr every year ( 15000-20000 is AMC ) even if you don’t go for vacation, so their aim is to increase membership numbers and collecting AMC .