Frequently Asked Questions

Being the rightful owner of the unit, you may book anytime, following the number of privilege nights you selected in the program (30, 60 or 90 nights). However, in cases where your unit is unavailable because of checked-in hotel guests, we book you in an equivalent unit.

If you enrolled your unit on 60- or 90- day privilege nights, you only have to pay minimal maintenance fees on the succeeding nights beyond the free 30 privilege nights. This is charged on a per-usage basis. No monthly maintenance fees, and certainly no annual membership dues.

Members enrolled in the leaseback program are entitled to 70% share of the net room profit of the entire hotel.

Unlike other properties where you earn only if your unit was rented or used, Widus Vacation Club’s leaseback program is quite unique. Even if your unit is not being occupied by regular hotel guests, you still earn. How?

RENTAL INCOME = (percentage interest of member) X (70% of Net Room Profit) X (Time Factor)

The percentage interest of the member shall be equal to the percentage of their respective units to the total floor area of the hotel.

Floor Area of Leased Unit	=	Percentage (%) Interest of Member
Total Saleable Floor Area of the Hotel

Net Room Profits shall mean profits earned by the rooms of Hotel Vida made available as hotel rooms for paying guests less:

• all direct and indirect expenses related to operating a hotel, and;
• all project assessments which include but shall not be limited to
• association fees
• real estate taxes and assessments on land, if any
• management fees
• maintenance expenses such as maintenance for generators, pumps, tanks, transformers and other similar facilities
• expenses for administrative, security, janitorial, messengerial and collection services
• professional fees such as legal and accounting services
• interests
• insurance premiums

Time factor shall be relative to the number of nights allocated for personal use as indicated elsewhere in this Agreement. The following Time Factors shall be used:

• Thirty (30) nights per calendar year – 335/365 = 0.9178
• Sixty (60) nights per calendar year – 305/365 = 0.8356
• Ninety (90) nights per calendar year – 275/365 = 0.7534

The Net Room Revenues or Net Rental Income of member shall be remitted to the member on or before May 15th of the following year, together with a statement of account.