Timeshare Industry Information
Timeshare Industry Information Ownership at Scottsdale Camelback
Resort (SCR) is unique to this property. All our owners have a deeded
interest in an annual fixed week. Some owners own more than one interval
interest and each are specific to that fixed week. The arrival and
departure dates are also fixed to each type of villa. "A" type villas
are Saturday to Saturday, "B" type villas are Sunday to Sunday, and
both "C" and "D" type villas are Friday to Friday.
SCR owners should know that 100% of all the Common Areas and improvements
thereon are owned by the Scottsdale Camelback Resort Association,
Inc. (SCRHOA) members who own the 5,661 interval interests. This means
that at SCR the individual and collective owners have an equity interest
in 100% of all the assets at the Resort except those of our tenant,
Desert Vacation Realty.
Some of the Timeshare Industry Terms that do not apply at SCR are:
Floating Time (intervals), Bi-Annual Usage, Split-weeks, Points, Fractional,
Lock-off, and any type of Club. Several clubs own fixed weeks at SCR
and members of those clubs have the right to occupy those club-owned
villas assigned to them by their club; however, all the facts in the
first paragraph above still apply.
Owners at SCR are automatically members of SCRHOA and, as such, they
have the following privileges: Day Use (in accordance with SCRHOA
Rules and Regulations), Exchange via the Scottsdale Travel Club or
personal membership in either of the following exchange firms: Resort
Condominiums International (RCI) or Interval International (II). For
internal exchanges please contact the Scottsdale Travel Club first.
SCRHOA is a member in good standing with the American Resort Development
Association (ARDA) and its owners contribute annually to ARDA's Resort
Owners Coalition (ROC). ARDA-ROC is the first line of defense against
legislation that may negatively impact timeshare owners and their
well-being. ROC has been instrumental in establishing federal laws
such as the 1997 Taxpayers Relief Act which saved timeshare owners
over $100 million in taxes. In Arizona we were able to pass legislation
in 2005 which prevented thousands of legislative actions directed
toward residential homeowners associations from applying to timeshare
HOAs in the state, and in 2007 we were able to pass a Non-Judicial
Foreclosure Act which sped up the process of recovery of interval
interest in default to the timeshare HOAs, as well as significantly
reduced the time and cost factors of such recoveries.
Most recently our industry has been in the news as a result of the
current economic conditions; however, SCR and its HOA are maintaining
strong positions both in financial circumstances and resort operations.
To stay abreast of all circumstances relating to the Resort and its
owners association, please read the quarterly SCR In-Touch Newsletter
and fully review each year's independent CPA firm's Annual Report
which is produced near the end of the first quarter.
