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Marriott Exit program

AlmostRetired

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Being curious, I called on one of my Monarch summer weeks. I was told that I would be given 4,200 after it closes. This is a summer week that if rented can get me 2300 since it has a great ocean view. It takes about 2600 DP points to get into it.

If put in the trust, not discounted Marriott would get about $36,000. If they wanted to create a bundle of 5200 points at 9.5 dollars a point, this would put the resales value of the Monarch to Marriott at 12,740. The Math $9.5*5200 = $49,400. $49,400 - (2600*$14.10) = 12,740. Depending on the desired $ per point for Marriott, the value of the Monarch week will go up or done.

I can see how this would be a benefit to Marriott and why it makes sense for Marriott if they can get a valuable week. Also, if they added it to the trust and not the bundled package, the MF of the unit is greater than the MF of 2600 points so in this case, they would get the upfront money and have all DP owners absorb the higher MF of the unit. This is really a win for them.
 

tschwa2

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Being curious, I called on one of my Monarch summer weeks. I was told that I would be given 4,200 after it closes. This is a summer week that if rented can get me 2300 since it has a great ocean view. It takes about 2600 DP points to get into it.

If put in the trust, not discounted Marriott would get about $36,000. If they wanted to create a bundle of 5200 points at 9.5 dollars a point, this would put the resales value of the Monarch to Marriott at 12,740. The Math $9.5*5200 = $49,400. $49,400 - (2600*$14.10) = 12,740. Depending on the desired $ per point for Marriott, the value of the Monarch week will go up or done.

I can see how this would be a benefit to Marriott and why it makes sense for Marriott if they can get a valuable week. Also, if they added it to the trust and not the bundled package, the MF of the unit is greater than the MF of 2600 points so in this case, they would get the upfront money and have all DP owners absorb the higher MF of the unit. This is really a win for them.

Was the $4200 a buy back offer or a brokered resale offer?
 

Password is taco

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Does Marriott no longer have the website with resale listings? I just did a google search, which is how I used to find it, and it wasn't in the search results. It almost appears that this exit program replaced the resale program. I don't understand why they would help sell unwanted timeshares, but why not post the listings like in the past.

I think overall its a good idea, but calling it an exit program has negative connotations in my mind.
 

tschwa2

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The 4200 is net I would see.
So net from a brokered resale. They haven't been offering any actual buy backs in about a year or two (maybe more), just wondering if that had changed. They wouldn't be able to add your week to the trust, if they do a brokered resale, they just make a 40% commission on the sale when it sells.
 

Password is taco

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So net from a brokered resale. They haven't been offering any actual buy backs in about a year or two (maybe more), just wondering if that had changed. They wouldn't be able to add your week to the trust, if they do a brokered resale, they just make a 40% commission on the sale when it sells.

I think I can clear this up. I emailed them to find out where the website went where they used to post resale units for sale. Well, they misunderstood my question and sent my my "Exit" options for my unit. One option was a brokered sale and the other option was titled "Repurchase Program" It went on to describe the Repurchase Program as MVC offering a direct purchase of your inventory. The offer for my unit was $5,400.

I have no interest in selling, I just wanted to find out what happened to the Marriott resale site.
 

AlmostRetired

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They wouldn't be able to add your week to the trust.

Sorry I wasn't more clear.. two options.. resale my unit for the commission or buy it back (they are in fact the buyer) and put it into the trust. If they did this, they get 36,000 and add the MF to the MF of the trust.
 

tschwa2

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Sorry I wasn't more clear.. two options.. resale my unit for the commission or buy it back (they are in fact the buyer) and put it into the trust. If they did this, they get 36,000 and add the MF to the MF of the trust.
Were they offering you the same whether it was a sale or a buy back?
 

AlmostRetired

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Were they offering you the same whether it was a sale or a buy back?
They would give me 4200. No discussion on a buyer. It was a quick discussion because of curiosity, not desire to sell. My next question will be my summer Monarch Oceanfront unit. Again out of curiosity.
 

suzannesimon

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Maybe they’re doing this because they need more weeks in the Trust. They didn’t ask you for any upfront money for their timeshare exit service, did they?
 

pspercy

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Just looked on RedWeek, looks like MOC prices have perked up a bit. Might see what MVC offers for an EOY Island View.......
 

bobmnu

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I’ve known about the resale program for a long time, but it’s interesting that they are now marketing it as an exit program.

https://www.marriottvacationclub.com/exit/
I have brought this up when I get an owners update. I have suggested that the Timeshare Clubs offer some sort of trade in program, must like a car dealer buys your old car when you purchase a new one. It could be a way to sell a new buyer a "used" timeshare very cheap to get them into timesharing. Many timeshare owners I have talked to would have gotten in earlier if they could have purchased one cheaper. I own several and would like to concentrate my holding into a couple of clubs. Being retired I am enjoying my timeshares with my family.
 

Videoguy75

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Such an easy smart thing for Marriott to do. Last summer at an MOC update they offered us a bundle that included 5,000 DP, plus a 2 BdRm & 3 BdRm, both from Grandvista, Orlando (which have an annual election total of of 6,500 DP). After all the incentives, discounts, smoke, and mirrors, we walked away with 11,500 DP at a smidge over $5/pt. Yes $5. That is what we told them we needed to do any deal. The deeds had the signatures of two families who barely got a song for their units, but they got something along with no future MFs. We are happy, the 2 ex-Grandvista owners are thrilled, and Marriott got full price on their 5,000 points. Kind of a perfect win-win-win for everyone. Marriott just does not lose with this proposition of assisting with an exit.
 

Dogleg

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Being curious, I called on one of my Monarch summer weeks. I was told that I would be given 4,200 after it closes. This is a summer week that if rented can get me 2300 since it has a great ocean view. It takes about 2600 DP points to get into it.

If put in the trust, not discounted Marriott would get about $36,000. If they wanted to create a bundle of 5200 points at 9.5 dollars a point, this would put the resales value of the Monarch to Marriott at 12,740. The Math $9.5*5200 = $49,400. $49,400 - (2600*$14.10) = 12,740. Depending on the desired $ per point for Marriott, the value of the Monarch week will go up or done.

I can see how this would be a benefit to Marriott and why it makes sense for Marriott if they can get a valuable week. Also, if they added it to the trust and not the bundled package, the MF of the unit is greater than the MF of 2600 points so in this case, they would get the upfront money and have all DP owners absorb the higher MF of the unit. This is really a win for them.
 

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I find your $4,200 amount interesting b/c I called approx a year ago and inquired if Marriott was offering any buy-back programs. I was told they were not, but I could list it with their Re-Sale Dept and would be notified when it sold. The person also said that, looking at other similar properties at my TS location, $4,200 appears to be the going rate after Marriott took out its sales commission. I was also told that 6-9 months would be a reasonable time to expect to wait for a buyer.

After reading your post on the $4,200 "offer" recently, I thought it was interesting they told me the going rate a year ago was $4,200. My TS is the Royal Palms at the World Center in Orlando for 4th of July Week on my deed. Royal Palms is pretty similar in age to the Monarch, I believe. It sounds like Marriott has enough "takers" at the $4,200 and has stuck to that. I am going to call in the morning and see if that is still the going rate. Thx.
 

BocaBoy

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I have brought this up when I get an owners update. I have suggested that the Timeshare Clubs offer some sort of trade in program, must like a car dealer buys your old car when you purchase a new one.
For years, they routinely did these "trade-ins" on upgraded weeks when they were still selling weeks. And the trade-in price was quite good; in some cases they applied the full purchase price of your old week to the new week being purchassed. We traded in our two MOC EOY weeks in the old towers toward the purchase of two annual weeks in the new towers when they were built. I don't know if they have done any trade-ins since they went to points, but it would seem to make sense.
 

bazzap

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For years, they routinely did these "trade-ins" on upgraded weeks when they were still selling weeks. And the trade-in price was quite good; in some cases they applied the full purchase price of your old week to the new week being purchassed. We traded in our two MOC EOY weeks in the old towers toward the purchase of two annual weeks in the new towers when they were built. I don't know if they have done any trade-ins since they went to points, but it would seem to make sense.
I have asked MVC Resales (Exit) more recently about trading our St Kitts weeks for Club Son Antem weeks.
Their answer was that this could only be possible (if at all) as two separate transactions
- selling us Club Son Antem weeks (European resort weeks are still being sold, but at high prices)
- helping us sell St Kitts weeks (but with no guarantees)
So this is neither a practical nor a cost effective option for us.
 

pafort

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Marbella Beach resort (1 Bed GOLD),
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Marriott has always been greedy, but the Marriott Rewards points program offered excellent opportunities to exchange hotel points for weeks.
The merger with SPG and Ritz Carlton, gave a blow to the credibility of Marriott, because it has excessively damaged elite members like me.
Already in 2010 and then 2012 with the artificial growth of the points to redeem the nights, the scam began to gather together for what it was: that is a real scam, with a loss of 75%.
ES: I became the owner in 2006 with 1bed gold in Marbella Beach Resort. Maintenance fee 550 € and 90,000 MRP. With 90,000 points I could exchange 5 nights in a Cat 5 (25,000 1 night then 20000, 15000, 10000 etc).
To better understand, the top category in 2006 was 7: 7 nights in any category 7 in the world cost 150,000 points (1 night 35000, 2 nights 65000 (35000 + 30000), 3 nights 90000 (35000 + 30000 + 25000) , 4 nights 110000 (35000 + 30000 + 25000 + 20000), 5 nights +20000, 6 night +20000, 7 free night Total 150,000
In 2008 I buy 2beds silver in Paris Ile de France with MF of 821 € and 100000 MRP. In 2015 I upgrade to 3 gold lockoff beds and 125,000 MRP
In 2012 I subscribe to the DP with my 2 weeks: 2225 + 1775 = 4000DP, with the 2015 upgrade to 5425 DP (2225 + 3200).
Unfortunately the experience taught me that the exchange in DP points to be used within the calendar year or bank over June 30 to use them the following year, did not guarantee you from sudden events that forced you to give up the holidays, you returned in possession of the points but if you had not banked them it was impossible to book 2 or 3 months in advance in other structures and you lost them, making a beautiful gift to Marriott.
TODAY: total MF 2648 € and 215000 MRP
If I wanted to stay at the Marriott Champs Elysées, in 2012 they needed 150000 MRP, today 290000.
So the odds are doubled and the points value halved.
Loss of 75%, a bankruptcy driven by MARRIOTT, which forces the owners to get rid of their weeks at a gift price.
This is my context at Marriott, which treats me like a cow to milk and with contempt for the loyalty I have shown them.

To conclude I would like to resell my weeks and recover what I paid over the years (almost € 80,000), given that the price should have remained constant and with the MF paid, I guaranteed an identical standard to 2006, 2008, 2015 ... since my money with those of the other owners have allowed lavish earnings (1000 € / week, 52 week, it's like selling the apartment in Marbella every year for € 520,000 ... scam better than Madoff ...)
And Marriott should compromise itself on the IMMEDIATE repurchase such as the more you pay if you delay the payment of MF, such as the immediate loss of the right to use the week, if you cancel the week in the 14 days prior to check-in.
 

pafort

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I have asked MVC Resales (Exit) more recently about trading our St Kitts weeks for Club Son Antem weeks.
Their answer was that this could only be possible (if at all) as two separate transactions
- selling us Club Son Antem weeks (European resort weeks are still being sold, but at high prices)
- helping us sell St Kitts weeks (but with no guarantees)
So this is neither a practical nor a cost effective option for us.


Bazz,
Marriott always has the answer to maximize its profits and slaughter its owners
I am Italian but I live in Barcelona: the flight to majorca is 30 'and before when I could I spent 10 we on the island.

I was at a meeting with the manager of Son Antem (in 2014). Some owners over 80 years complained that they could not resell since they were the first buyers in 1996. The manager could not face this revolt, and from his face the expression of the one found with his hands dirty with jam appeared clear. ..
Without forgetting the sale of the hotel to another group with invasion of the pools by people who do not pay the € 25 / year for pool management (and I pay you double for having 2 weeks)
I believe that an owner for more than 20 years has the right to resell when he wants, and Marriot the duty to buy back. At the current price, not at a discounted price of 70%. It is born from this impossibility to have satisfaction, the anger that we Marriott owners are pulling out.
Last note to the BONVOY program: platinum for all, platinum for none. Benefits not recognized in all program brands.
With 601 nights and 20 years of elite (plus the elite years with SPG), I find myself surrounded by SPG platinum who have done 125 nights or holders of an SPG amex card that guaranteed them the gold lifetime membership after 5 years (as is happened to me with the asxx platinum)
Now they have invented the titanium level, but they should create a super level that really gives extraordinary benefits, not welcome crap
 

bazzap

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I fear there is zero chance of MVC buying back weeks at anything other than very heavily discounted prices (if at all?), although to be honest I never had any expectations that they might do.
We own 5 weeks at Club Son Antem and the associated hotel management changes have been very disappointing.
We normally use the MVC townhouse pools and hotel guests should not be using those at all (I have never noticed them doing so)
MVC owners and guests can use the hotel pool.
I am not certain about arrangements for hotel guests using the main MVC Spa Centre pool?
I do know though that the hotel offers their guests rates for using the MVC Spa Centre facilities, but the hotel has to pay MVC for this usage.
 

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I spoke with MVC this morning and was told that I can "list my unit with them and a buyer would pay $5900". Of the $5900 sale price I would receive a net of $2950, so they would receive a 50% commission. This is all sales fluff, imo, since they make it sound like someone is buying my unit, when in reality, my unit is simply moved into the selling inventory at the Marriott Sales Office since the resort sold out many years ago. I believe the Royal Palms was built in 86-87 and I purchased in '97 and the resort has been sold out for years and uses resales like mine to essentially sell weeks ownership. The issue is that at nearly $1500 M&T fees and the added expense of being in the Destinations Program, I have been swapping my unit for 20+ yrs for the 110,000 MR points. In the late 1990s it was a deal, as my M&T fees were in the $750 range (now they are double) and 110,000 pts went far, especially since I was Platinum in the MR program and would usually be placed in a suite in foreign cities for my stays. Now 110,000 pts only nets me TWO nights in the same hotel that I stayed for a WEEK in Paris in the 1990s! That is why I am taking the $2950 and cutting my losses with the approx $1500 M&T fee yearly, soon to be higher, I am sure.
 

TXTortoise

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Did they increase their commission from the historical 40% to 50%, or did that round up due to other fees?

Obviously you can also list on Redweek or with broker, while you sit in their queue, though it looks like you'd do better with Marriott.
 

AKC3333

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Just last week I signed the sales agreement paperwork and sent it in. I was gifted the MVC from a family member and figured it was not for me. Marriott told me I would be getting about $3000 and some change after the sale. But I need it to sell before, I believe she said Sept of this year, so I don't have to pay maint fees for 2021. She said any buyer after Sept, they are buying for 2022 and you will still have it for 2021. I hope I sell it for 2021 and not be stuck with it for another year. She told me I am like 45th in line (of the same season, unit, etc) and it's first in first out, they sold over 60 in the last 12 months, so idk, crossing my fingers and patiently waiting.
 
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