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, Western Property Advisors.
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.