rrlongwell
newbie
Saw a interesting post on a Platium VIP Member having 12,xxx points left over that he/she would rent to someone and, in turn, he/she would rent a sufficient number of points from Wyndham to complete the reservation.
This specific path sense of what a Sales Rep that was trying to convince me that if I bought a Presidential Reserve deed, then I would not need to ever buy another timeshare again. This is what he would have been referring to, except a new timeshare purchase would not be needed, it would just be the program made referrence to above.
Just got off the phone with Wyndham. This definately appears to be the details of how it is done (no new purchase required or needed). Here is an example of how it might work.
1. Book out all but 50 or so points from the current use year.
2. Reserve a very high points value prime season timeshare (i.e. a 2 Bedroom Presidential at Wyndham Vacation Resorts Royal Garden at Waikiki for 500,000 points).
3. Rent a sufficient number of points from Wyndham to complete the reservation.
4. Cancel the reservation (Wyndham said under no circumstances would monatary refunds be made) the points go into the current year use year as cancelled points.
5. Wyndham advised this can be done as often as someone wants to during the course of a year.
The bottom line apparently is that a VIP Platium member has a method of renting as many points as they want under the 60 day out period and effectivly pay $4 dollars per thousand points. The actual rental rate per thousand would be $8 per thousand. Applying the VIP Plantium Discount rate to the actual units used would make the effective rate at step 1 as $4 dollars per thousand points. That is before effect is given to any free upgrades that may kick in. That would further reduce the effective rate per thousand to well under the $4 dollars per thousand points in some cases.
Has anyone actual book using rented points then cancelled them? If so, where did the cancelled rented points actually end up?
This specific path sense of what a Sales Rep that was trying to convince me that if I bought a Presidential Reserve deed, then I would not need to ever buy another timeshare again. This is what he would have been referring to, except a new timeshare purchase would not be needed, it would just be the program made referrence to above.
Just got off the phone with Wyndham. This definately appears to be the details of how it is done (no new purchase required or needed). Here is an example of how it might work.
1. Book out all but 50 or so points from the current use year.
2. Reserve a very high points value prime season timeshare (i.e. a 2 Bedroom Presidential at Wyndham Vacation Resorts Royal Garden at Waikiki for 500,000 points).
3. Rent a sufficient number of points from Wyndham to complete the reservation.
4. Cancel the reservation (Wyndham said under no circumstances would monatary refunds be made) the points go into the current year use year as cancelled points.
5. Wyndham advised this can be done as often as someone wants to during the course of a year.
The bottom line apparently is that a VIP Platium member has a method of renting as many points as they want under the 60 day out period and effectivly pay $4 dollars per thousand points. The actual rental rate per thousand would be $8 per thousand. Applying the VIP Plantium Discount rate to the actual units used would make the effective rate at step 1 as $4 dollars per thousand points. That is before effect is given to any free upgrades that may kick in. That would further reduce the effective rate per thousand to well under the $4 dollars per thousand points in some cases.
Has anyone actual book using rented points then cancelled them? If so, where did the cancelled rented points actually end up?
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