Banking StarOptions [Important update 2/13/12!]

pathways25 · Aug 11, 2011

SUMMARY:

5* Elite Owners: No charge.
3* and 4* Elite Owners: $79
All other (non-Elite) Owners: $99

Non-Elite SVN members can request SO Banking no later than July 1
3* and 4* Elite members may request SO Banking through October 1
5* Elite members may request SO Banking through December 31

However, once a reservation is <60 days away - SO Banking is no longer allowed.

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Update - See post #43 for the announcement and post #52 for the terms and conditions, and post #59 for more info. Also see post #155 for a rules change. DeniseM

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I was just on the phone with Owner Services and apparently 4* and 5* elite members will soon be given the option of banking SO's. The agent wouldn't give me any details but the new perk is to be announced next Monday (8/15).

I guess we'll soon be able to bank SO's into the next use year!

grgs · Aug 11, 2011

Cool--that would be a nice enhancement!

YYJMSP · Aug 11, 2011

I didn't want to start a rumour without some details -- our sales rep mentioned this was in the works about 2 weeks ago, but they hadn't had the official internal announcement meeting to be told the details yet.

Guess it must be past that point and ready to release to the public.

Depending on the details, this could inject a little more perceived value in to the higher SVN Elite levels. It could also put a bit more pressure on availiability depending on how it works...

Pedro · Aug 11, 2011

That would be a nice perk. Did they tell you if there were going to be any strings attached to the new perk? Can't wait to read the official announcement.

DeniseM · Aug 11, 2011

That is HUGE! Congrats to the Elite Owners!

Thinking out loud: I bet they will be restricted to 90 days out - but that's still OK - it makes it more fair for 12 mo. and 8 mo. reservations.

pathways25 · Aug 11, 2011

DeniseM said:
That is HUGE! Congrats to the Elite Owners!

Thinking out loud: I bet they will be restricted to 90 days out - but that's still OK - it makes it more fair for 12 mo. and 8 mo. reservations.

The agent also said something to the effect that 4* and 5* elites will be the guinea pigs for this feature. That sort of makes it sound like it may eventually be available to all SVN members.

woodyd70 · Aug 11, 2011

Why this is a BAD thing!

This is my concern.........

You have season tickets for your favorite baseball team for the 2012 season. You opt not to purchase tickets for the 2013 season, but show up at one of the 2013 games with your 2012 tickets.......somebody's not getting a seat unless they sit in someone's lap.

This will serve as a wonderful "sales tool" providing quite a bit more "perceived" flexibility, and it will become the "newest" reason to upgrade your package to elite on your owner's update according to your sales associate.........as for the upside, I don't believe there will be one for current owners, elite or not.

When you are using last years options for this years vacation, it will be an "inventory" nightmare...........examples of why this sucks a. Diamond, b. Bluegreen, c. Wyndham, d...............you get the idea.

DeniseM · Aug 11, 2011

Hi Woody - I don't know, but I'd guess that they will only be for last minute inventory - 90 days out - same as when you borrow SO's from the next year.

VacationForever · Aug 11, 2011

Hi Woody,
I don't see it as different from RCI or II where you have an extra 12 to 18 months to use your week. SVN is just one of these exchange companies but on a smaller scale and limited to SVO TS only.

SP

SDKath · Aug 12, 2011

Yaaay! Great perk. Now to balance things out, how about them letting us "borrow" too!

Katherine

DeniseM · Aug 12, 2011

SDKath said:
Yaaay! Great perk. Now to balance things out, how about them letting us "borrow" too!

Katherine

- different that the current borrowing system?

LisaRex · Aug 12, 2011

I could see how that could be very sweet perk.

DeniseM · Aug 12, 2011

The first year or 2 it was implemented, it might impact availability, but Ivwould think that after that, it would level out. It would certainly help owners who have leftover Staroptions at the end of the year.

tomandrobin · Aug 12, 2011

Waiting for details.....

But could be a nice perk!

VacationForever · Aug 12, 2011

Certainly makes being in SVN and using SOs more attractive.

tlpnet · Aug 12, 2011

I was able to get a little more info. It starts Monday, and will be rolled out first to 4* and 5*, but later to everyone. You will be allowed to make reservations 8 months out. There will be a fee for the banking (no info on how much), but 5* are exempt from the fee. The sales offices are already using limited information on this new perq to induce owners to increase their "portfolio".

woodyd70 · Aug 12, 2011

As I said........

Sales friendly, NOT user friendly

zcrider · Aug 12, 2011

This sounds like a very nice addition. I never deposit points b/c the "change" would be wasted. They are solving this problem for us and incuraging people to deposit and trade more. This will make the hard to get locations easier to trade into I would guess.
I would imagine that the reason for it only being available to 4 & 5* for now is to reduce that inventory problem for now and by the time it is open for everyone it will be more balanced.
I hope so anyway.

Maui_ed · Aug 12, 2011

I hope it won't put too big of a dent in programs like Make a Wish, which currently gets some unused StarOptions.

Having said that, I will welcome the ability to bank the options. There are times it would be nice to have an extra room or two for the rest of the family to tag along.

zcrider · Aug 12, 2011

Maui_ed said:
I hope it won't put too big of a dent in programs like Make a Wish, which currently gets some unused StarOptions.

Having said that, I will welcome the ability to bank the options. There are times it would be nice to have an extra room or two for the rest of the family to tag along.

Wow, I didn't know we could give our star options to Make a Wish! What a wonderful idea! Thanks for sharing that option!

pointsjunkie · Aug 12, 2011

zcrider said:
Wow, I didn't know we could give our star options to Make a Wish! What a wonderful idea! Thanks for sharing that option!

we have been donating to make a wish for many years. there is a thread open right now.

Pedro · Aug 12, 2011

woodyd70 said:
As I said........

Sales friendly, NOT user friendly

I might be a little dense, but what did you mean by "not user friendly"?

Ken555 · Aug 12, 2011

I think this is an obvious "enhancement" to the SVN program. Whether or not it will be as usable as it sounds is a question none of us can answer at this time. This is a great item for SVN sales to advocate, but I'm also skeptical on it's actual usability. If it's available for all owners (at some point) then it could sway some of us (even me) to buy another resale WKV 148k week so I can potentially reserve several units at once in Hawaii, etc. Will it prompt me to buy direct to get elite status? Nope.

pathways25 · Aug 12, 2011

Ken555 said:
I think this is an obvious "enhancement" to the SVN program. Whether or not it will be as usable as it sounds is a question none of us can answer at this time. This is a great item for SVN sales to advocate, but I'm also skeptical on it's actual usability. If it's available for all owners (at some point) then it could sway some of us (even me) to buy another resale WKV 148k week so I can potentially reserve several units at once in Hawaii, etc. Will it prompt me to buy direct to get elite status? Nope.

Hmm. Makes you wonder. If sales loves it so much, perhaps it's because they made it a developer sales only option. If not, it'll definitely enhance the resale value of the mandatory resorts.

Mjasp · Aug 13, 2011

woodyd70 said:
This is my concern.........

You have season tickets for your favorite baseball team for the 2012 season. You opt not to purchase tickets for the 2013 season, but show up at one of the 2013 games with your 2012 tickets.......somebody's not getting a seat unless they sit in someone's lap.

This will serve as a wonderful "sales tool" providing quite a bit more "perceived" flexibility, and it will become the "newest" reason to upgrade your package to elite on your owner's update according to your sales associate.........as for the upside, I don't believe there will be one for current owners, elite or not.

When you are using last years options for this years vacation, it will be an "inventory" nightmare...........examples of why this sucks a. Diamond, b. Bluegreen, c. Wyndham, d...............you get the idea.

Disney uses this method and they rent units to the public and it seems to work, I'm glad about this

Banking StarOptions [Important update 2/13/12!]

pathways25

grgs

TUG Review Crew

YYJMSP

Pedro

DeniseM

pathways25

woodyd70

DeniseM

VacationForever

TUG Review Crew

SDKath

DeniseM

LisaRex

TUG Review Crew

DeniseM

tomandrobin

VacationForever

TUG Review Crew

tlpnet

woodyd70

zcrider

Tug Review Crew: Rookie

Maui_ed

zcrider

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pointsjunkie

Pedro

Ken555

TUG Review Crew: Veteran

pathways25

Mjasp