Marriott BUYBACKS AND TAKEBACKS [2012 / Ongoing]

[dioxide45]

Short term? I will place a wager that it will be very long term. We are already at a year and a half and if anything their hunger has gotten stronger. As long as they are selling points they will be after the dirt cheap inventory of buybacks and ROFR.

It will be hard to tell. It may be shore term. Perhaps they will slow down when the third tower opens at Grand Chateau. Then shortly after that, they will be completing the build-out at Crystal Shores. No other construction projects on the gamut that I know of though.

 

[Saintsfanfl]

It will be hard to tell. It may be shore term. Perhaps they will slow down when the third tower opens at Grand Chateau. Then shortly after that, they will be completing the build-out at Crystal Shores. No other construction projects on the gamut that I know of though.

I will still definitely wager against it being short term. The margin on buybacks is huge. I sold two weeks to Marriott last year for $5,200 which they converted to points and sold for ~$70,000. They need new builds to grow the quality of the product but those margins are way too high to ever stop. They may tighten down and be more selective on what they buy back but they are not going to halt it completely.

 

[Fasttr]

Do you think the straight buy backs that they toss into the trust are targeted more heavily toward weeks that are not currently enrolled in the DC (weeks they know won't be converted to points and thus will not help to fill the DC's inventory needs) or do you think the buy backs are purely to feed the point selling machine?

 

[Saintsfanfl]

Do you think the straight buy backs that they toss into the trust are targeted more heavily toward weeks that are not currently enrolled in the DC (weeks they know won't be converted to points and thus will not help to fill the DC's inventory needs) or do you think the buy backs are purely to feed the point selling machine?

I believe it is the latter. I don't think they care whether the week is enrolled. It would be easy to test since plenty of tuggers have both but at the end of the day the margin on the sale is worth far more than making sure there is adequate inventory for the trust. As always there is far more supply than demand with timeshares. The focus is always about the next full freight sale. Everyone chases the money like a monkey with a hand in the jar.

I have also called periodically and asked about the buyback offers on various weeks. This is not an offer on what I own but an offer for the week in question to anyone. They will quote me the offer even though I don't have the week. There has never been a condition as far as the deeded week or enrolled or not enrolled. They really don't care. They are either trading the week themselves in II or they are converting it to points for the sale. I mention trading it themselves because that is the only way to explain MVCI's ridiculous push towards acquiring weeks at Willow Ridge. Perhaps there is another reason.

 

[022520]

MGV ROFR price vs Buy back price

Does anyone have any experience with Marriott in checking their buy back price vs their rofr price. Im thinking about upping my holdings at MGV but might need to bid a bit more than the lowest price currently advertised to pass thru ROFR. It might be necessary and desirable to bid a bit higher to get what I want

Is $5000 at the MVG for a 2bdrm lockout plat going to pass ROFR? I might call Marriott to see what they would offer me for my current 2 bdrrom lo plat just to gauge prices.

My sense is that if I want to add Marriot weeks to my current week I might have to spend a bit more.

Larry

 

[dioxide45]

Does anyone have any experience with Marriott in checking their buy back price vs their rofr price. Im thinking about upping my holdings at MGV but might need to bid a bit more than the lowest price currently advertised to pass thru ROFR. It might be necessary and desirable to bid a bit higher to get what I want

Is $5000 at the MVG for a 2bdrm lockout plat going to pass ROFR? I might call Marriott to see what they would offer me for my current 2 bdrrom lo plat just to gauge prices.

My sense is that if I want to add Marriot weeks to my current week I might have to spend a bit more.

Larry

Looking at the two databases, it looks like buybacks of 2BR MGV Plat weeks is about $5000. ROFR is failing at around $3500. That said, I wouldn't up an offer because of ROFR. Get the best deal you can and see if it passes or not.

 

[Saintsfanfl]

Looking at the two databases, it looks like buybacks of 2BR MGV Plat weeks is about $5000. ROFR is failing at around $3500. That said, I wouldn't up an offer because of ROFR. Get the best deal you can and see if it passes or not.

I agree with this. You never know what is going on behind the scenes. I had one deal that would have failed ROFR but it passed because the PCC was holding the past due maintenance fees that they would only pay if it passed. Marriott having to pay on top of the purchase amount put it over their threshold and they waived. I didn't even know the PCC was holding the unpaid fees until it transferred into my name.

 

[GregT]

For people who have been approached about a buy-back from Marriott, does anyone have the phone number of the department? Is it the same number as when they broker weeks for you (866-682-4547)?

Please advise -- I'm trying to get the owner of 6206/22 and 6206/23 to sell them back to Marriott (he wants too much money from me) and then put in the Trust. I'd be really happy if the adjacent weeks were in the Trust as I think I will be able to buy 6206/24 one day....

Thanks!

Greg

 

[JanT]

GregT,

Yes, it is the same number. We are in the process of selling a Grand Chateau week back from them and actually sold another one back to them last year. Both times, that is the number they provided if we had questions.

Good luck!

Jan

For people who have been approached about a buy-back from Marriott, does anyone have the phone number of the department? Is it the same number as when they broker weeks for you (866-682-4547)?

Please advise -- I'm trying to get the owner of 6206/22 and 6206/23 to sell them back to Marriott (he wants too much money from me) and then put in the Trust. I'd be really happy if the adjacent weeks were in the Trust as I think I will be able to buy 6206/24 one day....

Thanks!

Greg

 

[GregT]

GregT,

Yes, it is the same number. We are in the process of selling a Grand Chateau week back from them and actually sold another one back to them last year. Both times, that is the number they provided if we had questions.

Good luck!

Jan

Thank you!

 

[Green Eyed Hapa]

Marriott Buying Back Newport Coast Villa Weeks?

Does any one know if Marriott is buying back NCV Plat. weeks and what they are offering?

Thanks for any responses.

 

[Quadmaniac]

Best is to call the Marriott Resale Department. Call is free! Prices seem to change too

 

[mbeider]

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[LilMsFoodie]

I submitted the final paperwork for my timeshares to Marriott RESALE last Thursday, March 20th. There was a week delay as I needed to submit a death certificate for my late husband. The money for the sale was in my checking account this morning, March 27th. My total net for my two EoY weeks is 3450. That was for two gold eoy Florida club units. I think that is as good a deal as I would ever get for a while and I am Marriott free.
Have about 250k reward points which we will use up this year and move on to other hotels and other adventures. I appreciate all the help I have had here over the years. I greatly improved my experience by being able to sell and buy points to fill out short trips as needed.

I think selling a unit via Marriott resale is an easy out. I never believed I could get rid of a gold Grand Vista so easily. I believe that the resale department is able to offer incentives that make the units very attractive.

 

[pwrshift]

I've seen Manor Club golds go for $1 and GV gold go for $471 on eBay recently.

Rentals get more money but seldom as much as MF.

The sold listings are depressing.

People just want to get 'Marriott free' which has to bother Marriott, don't you think?

 

[Saintsfanfl]

ROFR will get exercised on those GV prices. Not sure about MC. I know I am finding that some of the Marriott eBay auctions for things like GV Gold and WR Plat are ending lower because would be buyers don't want to pay a PCC in full just to wait for a refund.

 

[SCSTWG]

I've seen Manor Club golds go for $1 and GV gold go for $471 on eBay recently.

Rentals get more money but seldom as much as MF.

The sold listings are depressing.

People just want to get 'Marriott free' which has to bother Marriott, don't you think?

Certainly this is the case for those who own seasons at certain resorts that can't rent to cover MF's. IMO, the number of such weeks is increasing and many Gold's are losing value simialr to Silver and Bronze weeks. I frequently see Gold weeks renting for 50-75% of MF's. Seems to be more units for rent than there are potential renter's in many cases.

 

[LilMsFoodie]

I've seen Manor Club golds go for $1 and GV gold go for $471 on eBay recently.

People just want to get 'Marriott free' which has to bother Marriott, don't you think?

I think a number of people who bought these timeshares during their big expansion are tired of them and ready for something else. Perhaps they have felt trapped for the past few years. I was very happy to see the points system come into play as I could have two or three mini vacations. My idea of hell became a week in Orlando. It is the highlight of many people's year. I am happy that Marriott has found a way to put a floor on pricing of at least some of their product and sell it to a new generation who are anxious to have nice vacations. I certainly do not begrudge Marriott Resale their commission. My process was very quick and painless, nothing like what I've read here in the past. I imagine someone buying my EOY Gold GV FC included with first use year in 2016, got a pretty good incentive..weeks voucher for this year, easy for them to do, or something else. It's very good for Marriott and also for someone who wants to quit the timeshare thing.

 

[dioxide45]

Certainly this is the case for those who own seasons at certain resorts that can't rent to cover MF's. IMO, the number of such weeks is increasing and many Gold's are losing value simialr to Silver and Bronze weeks. I frequently see Gold weeks renting for 50-75% of MF's. Seems to be more units for rent than there are potential renter's in many cases.

Even though our weeks can't rent for enough to cover our MFs, we own two Orlando weeks, we can convert our weeks to points and get a little more than break even if we rent our points. So even if your weeks can't rent for enough to cover MFs you might be able to rent out the points to cover the fees.

I think however, it comes down more to usage. If you can rent a hotel room or something similar for half of what the MFs are, people will end up trying to unload their week. If they can't get a decent exchange for their week, they will try to unload. I think the number of people that think about trying to rent their week when they can't use it is rather small.

 

[snowgoose]

Here's what I received:

"Platinum Season, One Bedroom, Ocean View week at Marriott’s Maui Ocean Club for $8,000 less $500 administrative and processing fees."

That's more than double what their last offer was a few months ago. Not sure if I'll take it as I purchased my two weeks from Marriott at their original retail amounts, approx 47,000.00. But I am tired of the rising maintenance fees and I can rent a very nice larger condo in same area for a lot less - that's my dilemma.

 

[dioxide45]

Here's what I received:

"Platinum Season, One Bedroom, Ocean View week at Marriott’s Maui Ocean Club for $8,000 less $500 administrative and processing fees."

That's more than double what their last offer was a couple of years ago. Not sure if I'll take it as I purchased my two weeks from Marriott at their original retail amounts, approx 47,000.00. But I am tired of the rising maintenance fees and I can rent a very nice larger condo in same area for a lot less - that's my dilemma.

If you could, please add it to the database. Link in my signature.

 

[MOXJO7282]

Here's what I received:

"Platinum Season, One Bedroom, Ocean View week at Marriott’s Maui Ocean Club for $8,000 less $500 administrative and processing fees."

That's more than double what their last offer was a few months ago. Not sure if I'll take it as I purchased my two weeks from Marriott at their original retail amounts, approx 47,000.00. But I am tired of the rising maintenance fees and I can rent a very nice larger condo in same area for a lot less - that's my dilemma.

I'd consider taking this offer because a 1BDRM OV can be rented at MF or slightly higher so why not take the money and just rent every year you want to go. 2BDRM OV units are different they cost a lot more than MFs to rent most of the time.

 

[snowgoose]

Joe,

I agree but I would rent the condo instead. It is a ground floor, big 2 bedroom, 2 bath, full kitchen, large living room, dining room, washer/dryer room and covered back porch. Parking in front of the door, gated complex, on edge of golf course, walk to beach and Whalers Village, etc. And it's 97.00 cheaper a night than staying at my timeshare. We've been renting it for the last three years later in the year after after we use our Marriott two weeks in January..

It just hurts to walk away from Marriott and leaving my 34,000 in their account.

 

[Saintsfanfl]

The money you paid Marriott is long, long gone. You can't view it as leaving $34k in their account. The only thing that matters is the value it has today whether it is through use, rental, or resale.

 

[snowgoose]

Saints,

You are correct and I agree. I still use my two weeks every year so I will continue to own it.

A few years ago Marriott didn't even want to buy it back. Then a few months ago they offered 3000.00. Now they offer 8000.00. If the trend continues the offers will just get better. By the time I can no longer use it their offers may be more to my liking. Or by that time maybe one of my four children will want to own it. That will be my strategy for now but I will still whine about rising maintenance fees. On the other hand, condo rental prices will probably also continue to rise - maybe it will be a wash.

Like others have said, we also received a lot of great memories, happiness and pleasure at Marriott Maui. When we bought it the only alternatives were very high priced hotels. There were no condos to rent like there are these days. Marriott's facility and service has always been superb and I have no regrets.