While walking along the shores of boracay, a man in white tshirt approach us and offered us a free buffet dinner. Wow, I was amazed and curious about it so my girlfriend asked what's the catch. The guy told us that there's nothing, it's just a way of promoting the Astoria hotel.
So we decided to go with it, after all the free dinner is a win win for us. The dinner starts at 6:00 pm so just past 6 we walk our way to station 1 where it is located. As we approach the hotel, we were introduced to one of the managers. He told us the we can have the free dinner and after that there will be 90 minute presentation about the hotel. With a live band and good dishes we enjoyed our one hour free dinner. The food was great. However, we are still wondering what’s in exchange for this wonderful dinner.
After the sumptuous dinner we were introduced to one of the salespersons. She started her talk by getting to know more of us. She then introduced the new marketing strategy of Astoria, the timeshare. It is a form of ownership or right to use a property usually a hotel or condominum. For more info on timesharing, you can refer to this wikipedia link .
To avail of the benefits of their timeshare, you must have to pay the membership fee and on top of that is an annual maintenance fee which is almost 10,000 pesos. The membership fee is quite big but she warned us at the start that if the membership fee would largely affect our financial status then it’s better not to avail it. The membership fee ranges from 300k to 500k but because they are in promo they oferred us a 20% discount. She presented some payment terms to pay the membership fee and a 25K is needed at the start.
We told her we don't have that big amount of money. We asked if we can have more time to research about it but she insisted that the offer only stands for just one night. She was very firm with the “one night only” offer so we declined it.
We thought that this was a very big financial decision for us so we needed more time to research and think it over. We thought that the offer will be good for those above middle class family who are constantly having their vacation. We also think that the “one night only” is not a good marketing strategy. We believe that clients should be given time to research and consult among their circle of influence.
Upon getting home, I googled Astoria, and read some good and bad comments about it.
Our advice is, before jumping to any financial decision, you must do your research.