TUG MEMBERS: Joining TUG does not automatically register you as a user of the TUG Bulletin Board. You must register yourself.


*ads are disabled when logged in as a member*
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 25 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
    Dismiss Notice
  3. TUG has now saved timeshare owners more than $11,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $11Million dollars
    Dismiss Notice
  4. Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
    Dismiss Notice
  5. TUG is trying out a new program that will trade you a TUG membership for a Timeshare resort review if you are an expired member, or even just a guest here on the forums!

    Read more here
    Dismiss Notice
  6. Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
    Dismiss Notice
  7. Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
    Dismiss Notice
  8. TUG has now joined Priceline.com as an affiliate!

    Members and guests who book air travel, rental cars and even Cruise Vacations thru TUG's priceline links will now support TUG in the process!

    Read more here
  9. A few of the most common links here on the forums for newbies and guests!
    Dismiss Notice

Marriott Exit program

Discussion in 'Marriott Vacation Club' started by mj2vacation, Mar 14, 2019 at 10:10 AM.

  1. mj2vacation

    mj2vacation Guest

    Joined:
    Jun 6, 2005
    Messages:
    439
    Likes Received:
    39
    Trophy Points:
    188
    Location:
    New Jersey
  2. TheTimeTraveler

    TheTimeTraveler TUG Member

    Joined:
    Jan 23, 2008
    Messages:
    2,202
    Likes Received:
    127
    Trophy Points:
    273
    Location:
    Massachusetts



    A very smart marketing move!




    .
     
    Steve Fatula likes this.
  3. l0410z

    l0410z TUG Member

    Joined:
    Jul 20, 2005
    Messages:
    789
    Likes Received:
    108
    Trophy Points:
    253
    Location:
    Long Island, NY
    Resorts Owned:
    Monarch Summer x 2, one enrolled. Grand Chateau 2 br EOY
    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.
     
  4. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

    Joined:
    Dec 19, 2008
    Messages:
    10,727
    Likes Received:
    1,062
    Trophy Points:
    498
    Location:
    Maryland
    Resorts Owned:
    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    Was the $4200 a buy back offer or a brokered resale offer?
     
  5. Password is taco

    Password is taco TUG Member

    Joined:
    Jul 19, 2015
    Messages:
    136
    Likes Received:
    3
    Trophy Points:
    78
    Location:
    Illinois
    Resorts Owned:
    Marriott's Barony Beach
    SVV - Key West
    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.
     
  6. l0410z

    l0410z TUG Member

    Joined:
    Jul 20, 2005
    Messages:
    789
    Likes Received:
    108
    Trophy Points:
    253
    Location:
    Long Island, NY
    Resorts Owned:
    Monarch Summer x 2, one enrolled. Grand Chateau 2 br EOY
    The 4200 is net I would see.
     
  7. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

    Joined:
    Dec 19, 2008
    Messages:
    10,727
    Likes Received:
    1,062
    Trophy Points:
    498
    Location:
    Maryland
    Resorts Owned:
    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    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.
     
  8. Password is taco

    Password is taco TUG Member

    Joined:
    Jul 19, 2015
    Messages:
    136
    Likes Received:
    3
    Trophy Points:
    78
    Location:
    Illinois
    Resorts Owned:
    Marriott's Barony Beach
    SVV - Key West
    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.
     
  9. l0410z

    l0410z TUG Member

    Joined:
    Jul 20, 2005
    Messages:
    789
    Likes Received:
    108
    Trophy Points:
    253
    Location:
    Long Island, NY
    Resorts Owned:
    Monarch Summer x 2, one enrolled. Grand Chateau 2 br EOY
    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.
     
  10. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

    Joined:
    Dec 19, 2008
    Messages:
    10,727
    Likes Received:
    1,062
    Trophy Points:
    498
    Location:
    Maryland
    Resorts Owned:
    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    Were they offering you the same whether it was a sale or a buy back?
     
  11. l0410z

    l0410z TUG Member

    Joined:
    Jul 20, 2005
    Messages:
    789
    Likes Received:
    108
    Trophy Points:
    253
    Location:
    Long Island, NY
    Resorts Owned:
    Monarch Summer x 2, one enrolled. Grand Chateau 2 br EOY
    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.
     
  12. suzannesimon

    suzannesimon TUG Member

    Joined:
    Jan 3, 2010
    Messages:
    1,699
    Likes Received:
    51
    Trophy Points:
    158
    Location:
    Destin, FL & Bethany Beach, DE
    Resorts Owned:
    Marriott Frenchman's Cove, Hyatt Sunset Harbor, Harborside at Atlantis, Marriott Aruba Surf Club, Marriott Grande Ocean, Westin Kierland Villas, Westin Lagunamar
    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?
     
  13. pspercy

    pspercy TUG Member

    Joined:
    Jun 21, 2007
    Messages:
    146
    Likes Received:
    26
    Trophy Points:
    238
    Location:
    North Texas
    Resorts Owned:
    Maui Ocean Club
    Just looked on RedWeek, looks like MOC prices have perked up a bit. Might see what MVC offers for an EOY Island View.......
     
  14. bobmnu

    bobmnu TUG Member

    Joined:
    Jun 19, 2014
    Messages:
    5
    Likes Received:
    1
    Trophy Points:
    61
    Location:
    Cumberland WI
    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.
     
    TUGBrian likes this.
  15. Videoguy75

    Videoguy75 TUG Member

    Joined:
    Nov 21, 2014
    Messages:
    15
    Likes Received:
    10
    Trophy Points:
    63
    Location:
    Plymouth, MN
    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.
     
  16. Dogleg

    Dogleg TUG Member

    Joined:
    Nov 19, 2015
    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    61
    Location:
    Demotte in
     
  17. RichardY

    RichardY TUG Member

    Joined:
    Sep 13, 2017
    Messages:
    5
    Likes Received:
    4
    Trophy Points:
    63
    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.
     
  18. BocaBoy

    BocaBoy TUG Member

    Joined:
    Jun 5, 2009
    Messages:
    5,175
    Likes Received:
    297
    Trophy Points:
    268
    Location:
    Wisconsin
    Resorts Owned:
    Maui Ocean Club--Lahaina/Napili Villas; Ko Olina Beach Club; Grand Chateau
    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.
     
  19. bazzap

    bazzap Tug Review Crew: Rookie TUG Member

    Joined:
    Nov 4, 2009
    Messages:
    2,826
    Likes Received:
    342
    Trophy Points:
    219
    Location:
    Cirencester UK
    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.
     
  20. pafort

    pafort Guest

    Joined:
    Oct 17, 2009
    Messages:
    111
    Likes Received:
    0
    Trophy Points:
    76
    Location:
    Roma (italia)
    Resorts Owned:
    MR Platinum Premier Lifetime
    Owner SELECT
    Marbella Beach resort (1 Bed GOLD),
    Village Ile de France (3 Beds lock off GOLD)
    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.
     
  21. pafort

    pafort Guest

    Joined:
    Oct 17, 2009
    Messages:
    111
    Likes Received:
    0
    Trophy Points:
    76
    Location:
    Roma (italia)
    Resorts Owned:
    MR Platinum Premier Lifetime
    Owner SELECT
    Marbella Beach resort (1 Bed GOLD),
    Village Ile de France (3 Beds lock off GOLD)

    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
     
  22. bazzap

    bazzap Tug Review Crew: Rookie TUG Member

    Joined:
    Nov 4, 2009
    Messages:
    2,826
    Likes Received:
    342
    Trophy Points:
    219
    Location:
    Cirencester UK
    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.
     
  23. RichardY

    RichardY TUG Member

    Joined:
    Sep 13, 2017
    Messages:
    5
    Likes Received:
    4
    Trophy Points:
    63
    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.
     
  24. TXTortoise

    TXTortoise TUG Member

    Joined:
    Sep 4, 2005
    Messages:
    686
    Likes Received:
    188
    Trophy Points:
    253
    Location:
    San Antonio, TX
    Resorts Owned:
    Maui Ocean Club
    MOC Lahaina (x3)
    Vail Streamside Birch
    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.
     
  25. AKC3333

    AKC3333 TUG Member

    Joined:
    Oct 22, 2018
    Messages:
    18
    Likes Received:
    1
    Trophy Points:
    53
    Resorts Owned:
    Desert Springs Villas I
    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.
     

Share This Page