How do Home options differ from Staroptions?

DavidnRobin · Aug 31, 2015

SMHarman said:
Only those with OF Home Options can book OF at 12-8 month's. Of course the any day check in makes a bit of a mockery of how all of them book their week. If two one week owners book a m-m and a th-th stay that leaves m-th and th-m for the other owner.

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They can do it by having enough villas (how many at Nanea? 280?) with some Owners using their SOs (from HOs) to exchange thru SVN thereby allowing some openings that people will get by exchanging and renting. Remember, SVO tends to own a percentage of intervals., plus they sell them in weekly interval groups regardless of ability to book 7 +/- days. I am sure there is an algorithm worked out to deal with the various checkin days and length of stays.

Henry M. · Aug 31, 2015

I heard salespeople at WKORV were recently told there's finally new inventory to sell at WKORV and WKORV-N, so the ROFR units seem to be making it to the sales organization. They're not being hoarded exclusively for some other program.

okwiater · Sep 1, 2015

bobpark56 said:
It seems that home option can be banked...but once banked, they become no different from banked staroptions. At least that's my reading of this note received today from Starwood:

"Your Home Options can be banked, by October 1, every year <3-star elite>, for a fee of $79. The Banked Home/StarOptions would expire December 31, two years past the year banked and can be used to confirm nights in ownership resorts up to eight months prior to your desired date of arrival. Banked Home Options, like Banked StarOptions, cannot be used to confirm a reservation 12-8 months prior to the arrival date, even when returning to your home resort in the season purchased.

At eight months prior to your desired date of arrival, you may combine your Home Options with StarOptions from weeks packages to confirm reservations at SVN ownership resorts."

That is semantically the most confusing explanation I have ever seen. It's just not true that HomeOptions can be banked, because a resale buyer gets HomeOptions as part of their ownership but would be ineligible to bank them. Technically only a HomeOptions resort that is enrolled in SVN can bank -- and because SVN has no concept of "HomeOptions" that implies that they become StarOptions rather than HomeOptions upon banking.

GrayFal · Sep 1, 2015

Sicnarf said:
I own WSJ-CV (from developer) and as far as I know I'm able to borrow or bank my homeoptions just like Staroptions. Statement #4 may be true for resale?

I am also curious as to how HomeOptions Maint Fee might combine?

Currently the fee is as follows for 97,500 Resort Season (May-December)
"2015 base fee" $787.52
"2015 points assessment" $1,102.02

And this jives with This post

carpie99 said:
STJ Coral Vista

148,100 Trust Options (1 Week 2 Bedroom May - Dec)

$38,100 ... $2450 MF

:rofl:

As the fee quoted here would be base fee of $787 + $1670ish for the additional HomeOptions

If one purchased an additional contract to add on more HomeOptions in The same season, would you have to pay the base fee twice?

And does the base fee of $787 contain the SVN fee of $135ish that the resale owner would not have to pay.....

Lots of unanswered questions!

GrayFal · Sep 10, 2015

okwiater said:
Not exactly. HomeOptions DO transfer upon resale -- they are representative of your inherent usage rights. It's the SVN membership that is voluntary, which means that your HomeOptions DO NOT convert to StarOptions.

Correct, they stay HomeOptions only to be used at Home resort. In my case WSJ CV

tschwa2 said:
I don't see it working that way. If you aren't a member of SVN your only banking opportunity would likely be to bank the points with II which would probably use a crossover grid where a 1 br with a tdi of 135-150 would cost y # of points.

Correct, you can bank unused HO with II and exchange thru the II Points program with cross over grid.

SMHarman said:
Isn't this a 2 part answer?

For developer purchases they look a lot like a mandatory resort but allow check in and out on any day.

For resale buyers they look a lot like a voluntary resort (or do they - what happens to the svn fee?) and they can be used to book home resort view in home resort time priority period12-8 months (more relevant for WSJ which is not 1-52) and home resort view for the 7-0 or used to create a banked week wot II or another exchange co.

Resale buyers cannot bank or borrow and will not see them covert to so/ho at 8 month's (or will they)?

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Following answer from Starwood regarding WSJ CV HomeOption use ......

"It is always our pleasure to assist you!

The new owner will have 95,700 Home Options with which he is able to reserve at The Westin St. John Resort and Villas, Coral Vista, in the Resort Season, 12-8 months prior to the desired date of arrival.

Because the owner will not be part of the SVN, the Home Options will not transfer into StarOptions; however, at eight months out from the arrival date, the new owner will be able to reserve in either the Resort or Diamond Season, utilizing the 95,700 Home Options. "

So owners would be able to reserve in any season at the 8 month mark.... Not a bad thing

canesfan · Sep 10, 2015

I didn't realize WSJ-CV is not part of SVN. Is Nanae the same?

GrayFal · Sep 10, 2015

canesfan said:
I didn't realize WSJ-CV is not part of SVN. Is Nanae the same?

They are both voluntary so a resale owner (like me) does not belong to SVN.

However I can use the HomeOptions at 8 months in both seasons

at CV

canesfan · Sep 10, 2015

GrayFal said:
Correct, they stay HomeOptions only to be used at Home resort. In my case WSJ CV

Correct, you can bank unused HO with II and exchange thru the II Points program with cross over grid.

Following answer from Starwood regarding WSJ CV HomeOption use ......

"It is always our pleasure to assist you!

The new owner will have 95,700 Home Options with which he is able to reserve at The Westin St. John Resort and Villas, Coral Vista, in the Resort Season, 12-8 months prior to the desired date of arrival.

Because the owner will not be part of the SVN, the Home Options will not transfer into StarOptions; however, at eight months out from the arrival date, the new owner will be able to reserve in either the Resort or Diamond Season, utilizing the 95,700 Home Options. "

So owners would be able to reserve in any season at the 8 month mark.... Not a bad thing

It's this quote that has me questioning. So WSJ-CV and Nanae home options don't participate in SVN from the developer purchase? Am I understanding this correctly? If you buy from SW you can only reserve at your resort or have to use II?
I understand they are voluntary resorts but to me that applies when they hit resale and they are still new to market to see in resale.

GrayFal · Sep 10, 2015

canesfan said:
It's this quote that has me questioning. So WSJ-CV and Nanae home options don't participate in SVN from the developer purchase? Am I understanding this correctly? If you buy from SW you can only reserve at your resort or have to use II?
I understand they are voluntary resorts but to me that applies when they hit resale and they are still new to market to see in resale.

The quote above is an email correspondence to me from Starwood. I am a RESALE owner.
I purchased from someone who bought from the Developer

So Nanea and WSJ CV are part of SVN to the original owner but resale owners can only use their HomeOptions at each respective resort

HTH

SMHarman · Sep 10, 2015

The New in the quote refers to the New owner buying resale.

The existing owner bought from Starwood and has SVN.

The New owner buys from the existing owner and has home options and no SVN

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canesfan · Sep 10, 2015

Ok, that makes more sense then. It was contrary to what I understood to how they were selling it.

GrayFal · Sep 10, 2015

SMHarman said:
The New in the quote refers to the New owner buying resale.

The existing owner bought from Starwood and has SVN.

The New owner buys from the existing owner and has home options and no SVN

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Correct!

pathways25 · Sep 10, 2015

canesfan said:
"Because the owner will not be part of the SVN, the Home Options will not transfer into StarOptions; however, at eight months out from the arrival date, the new owner will be able to reserve in either the Resort or Diamond Season, utilizing the 95,700 Home Options. "

I'm a little surprised to see this. I thought reserving out of the season that you own (if your ownership wouldn't allow you to book that season at 12-8 months) is a StarOption transaction and if you don't have StarOptions from not being in SVN, you wouldn't be able to change seasons at < 8 months.

canesfan · Sep 10, 2015

pathways25 said:
I'm a little surprised to see this. I thought reserving out of the season that you own (if your ownership wouldn't allow you to book that season at 12-8 months) is a StarOption transaction and if you don't have StarOptions from not being in SVN, you wouldn't be able to change seasons at < 8 months.

I think this is a matter of wording at this point. They have now introduced Home Options to us. For me, I think of them as Star Options. Whether you can use those SO in SVN is a matter of them being from a mandatory or voluntary resort. I think SW/Vistana wants us to now start thinking of them as Home Options. In this case, those Options at <8 months can be used to reserve a different room type or season than what was purchased, only at the resort where the Home Options reside. Just like our deeded weeks.

I wonder at what point our reservation system will no longer have StarOptions but HomeOptions at the top to indicate our total? They obviously want to rewire our way of thinking, otherwise they would have left it as SO.

VacationForever · Sep 10, 2015

canesfan said:
I think this is a matter of wording at this point. They have now introduced Home Options to us. For me, I think of them as Star Options. Whether you can use those SO in SVN is a matter of them being from a mandatory or voluntary resort. I think SW/Vistana wants us to now start thinking of them as Home Options. In this case, those Options at <8 months can be used to reserve a different room type or season than what was purchased, only at the resort where the Home Options reside. Just like our deeded weeks.

Deeded weeks are not able to reserve outside of the deeded season.

SMHarman · Sep 10, 2015

canesfan said:
I think this is a matter of wording at this point. They have now introduced Home Options to us.

I wonder at what point our reservation system will no longer have StarOptions but HomeOptions at the top to indicate our total? They obviously want to rewire our way of thinking, otherwise they would have left it as SO.

It's not a matter of wording though it is all about MF numerator and denominators.

Let's take a hypothetical resort (because I am typing on a phone not a pc)

MF is 1000 per week 52000 per year.

In deeded week/ SO world each of the 52 owners paid 1000 and got a week or a variable number of SO. So some got 148k SO for their 1000 and some got 37k SO.

Now in HO world you calculate MF differently.

Again for my brains mental arithmetic. 100k SO for 20 plat weeks and 75 for for 10 gold week's and 50 for 22 silver weeks. So total 2000 + 750 + 1100 = 3850 SO

The 52000 is shared over the 3850 options so those with silver weeks pay 50/3850 * 52000 and those with platinum week's pay 100/3850 * 3850.

MF is now more equitable.

It's not about getting rid of one or the other but making silver weeks price and ongoing cost commensurate to their desirability.

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canesfan · Sep 10, 2015

sptung said:
Deeded weeks are not able to reserve outside of the deeded season.

After 8 months they can.

canesfan · Sep 10, 2015

SMHarman said:
It's not a matter of wording though it is all about MF numerator and denominators.

Let's take a hypothetical resort (because I am typing on a phone not a pc)

MF is 1000 per week 52000 per year.

In deeded week/ SO world each of the 52 owners paid 1000 and got a week or a variable number of SO. So some got 148k SO for their 1000 and some got 37k SO.

Now in HO world you calculate MF differently.

Again for my brains mental arithmetic. 100k SO for 20 plat weeks and 75 for for 10 gold week's and 50 for 22 silver weeks. So total 2000 + 750 + 1100 = 3850 SO

The 52000 is shared over the 3850 options so those with silver weeks pay 50/3850 * 52000 and those with platinum week's pay 100/3850 * 3850.

MF is now more equitable.

It's not about getting rid of one or the other but making silver weeks price and ongoing cost commensurate to their desirability.

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Oh, don't get me wrong. I get why they are doing it on an economics scale. I'm talking about their use right now. Not about their MF.

SMHarman · Sep 10, 2015

canesfan said:
After 8 months they can.

No they can't. It's a SO reservation or nothing if a voluntary week.

In some circumstances the original plan had an option to pay to book outside your home period but not most.

canesfan said:
Oh, don't get me wrong. I get why they are doing it on an economics scale. I'm talking about their use right now. Not about their MF.

And indirectly so am I. At this time I do not forsee how or why SVO would merge SO And HO.

HO are for life. SO are for the first owner / mandatory owner.

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VacationForever · Sep 10, 2015

canesfan said:
After 8 months they can.

I don't know which Starwood resort you own, not the ones that I own. I can only book weeks within the platinum season with a platinum season week, gold plus season with a gold plus week. If I want season outside of the deeded season and if the week is not in SVN I have to trade through II.

canesfan · Sep 10, 2015

sptung said:
I don't know which Starwood resort you own, not the ones that I own. I can only book weeks within the platinum season with a platinum season week, gold plus season with a gold plus week. If I want season outside of the deeded season and if the week is not in SVN I have to trade through II.

First I'm not talking resale, I'm still referring to purchasing HO from developer. But even so, I guess I'm misunderstanding how seasons work. I own Maui, WLR and WSJ. I've never had an issue making a reservation outside of the 12-8 month window, so I guess I was still in my season.

alexadeparis · Sep 10, 2015

canesfan said:
First I'm not talking resale, I'm still referring to purchasing HO from developer. But even so, I guess I'm misunderstanding how seasons work. I own Maui, WLR and WSJ. I've never had an issue making a reservation outside of the 12-8 month window, so I guess I was still in my season.

And that seems to be the difference between HO and SO. With the new HO program, even a resale buyer can still change seasons within their home resort, where a straight SO-voluntary resale only can make a weeks reservation at the home resort in their original season. So therefore, the new HO's are more flexible than SO's, because it still allows use of the home resort out of season. Maybe it is best to think of HO's as SO's internal to the home resort only.

SMHarman · Sep 10, 2015

canesfan said:
First I'm not talking resale, I'm still referring to purchasing HO from developer. But even so, I guess I'm misunderstanding how seasons work. I own Maui, WLR and WSJ. I've never had an issue making a reservation outside of the 12-8 month window, so I guess I was still in my season.

You can book your home resort season from 12-8 months on preference and then again from 7-0 months as well. As a retail purchase the latter would show as a SO ressie. As a resale purchase your latter would still be a week ressie.

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GrayFal · Sep 10, 2015

alexadeparis said:
And that seems to be the difference between HO and SO. With the new HO program, even a resale buyer can still change seasons within their home resort, where a straight SO-voluntary resale only can make a weeks reservation at the home resort in their original season. So therefore, the new HO's are more flexible than SO's, because it still allows use of the home resort out of season. Maybe it is best to think of HO's as SO's internal to the home resort only.

Yes, you have got it!
And I think it is great!
It does not affect Hawaii owners as it is all one season.
But I can book any season at CV using HO at 8 months. A win win for resale owners.

And I imagine that when some of the new resorts come online, they will have different seasons as well.

SMHarman · Sep 10, 2015

But your HO will still onlywork at CV

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How do Home options differ from Staroptions?

DavidnRobin

Henry M.

okwiater

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