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 $12,000,000 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 $12Million 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.

  1. bogey21

    bogey21 TUG Member

    Joined:
    Jun 8, 2005
    Messages:
    6,883
    Likes Received:
    1,594
    Trophy Points:
    449
    Location:
    Fort Worth, Texas
    Historical 40%!! Years ago I used Marriott to sell my Sabal Palms Week and my Monarch Crown Suite. Their commission was only 20% back then and even after Marriott's commission I ended up getting more than I paid for the Weeks. For example I paid $25,000 for my Crown Suite Week (in the resale market) and Marriott sold it for me for $41,500 less their 20% commission...

    George
     
  2. BobGee

    BobGee TUG Member

    Joined:
    Mar 21, 2007
    Messages:
    1
    Likes Received:
    0
    Trophy Points:
    211
    My email to Marriott regarding my ownership at Shadow Ridge: "Please provide me with the options available to participate in the Exit program."

    Marriott response:
    "Good day!

    As an alternative to continuing to pay maintenance fees year after year, we’d like to make you aware of the opportunity to relinquish or deed back your ownership. While this transaction does not cost you anything, this option will not result in any financial proceeds to you either, it would be a guaranteed, quick way to exit the program and eliminate your ongoing annual maintenance fee commitment, including the upcoming 2020 maintenance fee. Your last usage and maintenance fee will be 2019. The transfer of your ownership would commence in as soon as 90-120 days of your acceptance.

    The first-year occupancy to MVC would be 2020. You will retain the usage for 2019 and be responsible for the 2019 maintenance fees. Any outstanding maintenance fees, taxes or loans will need to be paid prior to ownership transfer.

    The offer to deed back your ownership is valid for the next 7 business days and is subject to change at any time with or without notice.

    We hope that this information has been helpful. Please advise if we can assist further."

    How generous of them to take the ownership back.
     
  3. TXTortoise

    TXTortoise TUG Member

    Joined:
    Sep 4, 2005
    Messages:
    857
    Likes Received:
    276
    Trophy Points:
    273
    Location:
    San Antonio, TX
    Resorts Owned:
    Maui Ocean Club
    MOC Lahaina Fixed (3+)
    Vail Streamside Birch
    Where, what and when is your week? Just wondering which resort sells 60/year.
     
  4. Fasttr

    Fasttr TUG Member

    Joined:
    Jun 26, 2013
    Messages:
    3,833
    Likes Received:
    835
    Trophy Points:
    248
    Location:
    Connecticut
    Resorts Owned:
    Marriott's Grande Ocean
    MVC Trust Points
    TXTortoise likes this.
  5. AKC3333

    AKC3333 TUG Member

    Joined:
    Oct 22, 2018
    Messages:
    37
    Likes Received:
    1
    Trophy Points:
    58
    Resorts Owned:
    Desert Springs Villas I
  6. DeeCee

    DeeCee TUG Member

    Joined:
    Apr 20, 2009
    Messages:
    72
    Likes Received:
    21
    Trophy Points:
    218
    I just called the Marriott Exit Program. We own a Legacy week, Gold Season, Gardenview at Surfwatch (purchased resale). The gentleman I spoke with said we would come out with approximately $3700.00 after their commission and that the buyer would pay any transfer fees. He also said it would be our 2020 year, and we would retain usage of our 2019 year.

    I called out of curiosity as we don't have any intention of selling (at least not at this point in time). We paid $6000 resale direct through Marriott when they still had that option (I found that site on the web) and use it for Easter weeks. We saw the listings on TUG and Ebay, but being that we never purchased resale on the market before, my husband felt more comfortable with going direct to Marriott. While we knew we could have possibly gotten it for less on the market, we felt comfortable with the price even knowing we'd sell it for less, if we ever sell it. It seems to command a higher rental rate for the week before, during and after Easter, more than enough to cover MF, and we liked that option when we were researching. We love it and hope to never have to sell it. We have traveled with our cousins and hope to travel with our adult children and grandchildren in the upcoming years.

    We do not belong to II and don't intend on buying that membership, as we use our other timeshare if and when we want to trade.

    We did a lot of research before buying, all based on where we want to go every Easter week....for me that's BEACH BEACH BEACH BEACH BEACH. For my husband, a relaxing place with enough to do to get out and about, and enough NOT to do when he just wants to relax. SURFWATCH is beyond perfect for us, and easily reachable.

    I don't know if what I was told is actually accurate but I am not unhappy with it. After using it a few years, IF we can still sell and come out with approximately $3700 and IF we want to, we'd still look at it as a good decision.

    We can't wait to get back there!

    Dee
     
  7. LUVourMarriotts

    LUVourMarriotts Tug Review Crew: Rookie TUG Member

    Joined:
    Jun 20, 2007
    Messages:
    1,448
    Likes Received:
    42
    Trophy Points:
    258
    Location:
    Apex, NC (The Peak of Good Living)
    Resorts Owned:
    MFV (P) 2002
    MSU (G) 2006
    MOW (P) 2018
    I called the Exit department last summer, when I was working on buying a MOW week. I was working with the resale department at the time, and they were a joke, since they strung me along for a while saying they had MOW, but they didn't. When we first started the conversation, I told them I wanted to make a deal where I gave them MFV for some compensation, which I knew would be low, and then we work that into the purchase of MOW. Obviously didn't happen. I was then at MOW, went to a presentation, and suggested the same. They told me it would have to be 2 transactions, and I would have to call Marriott myself for the buy-back part. I didn't do any transaction with Marriott directly. I bought 3rd party resale.

    When I did call the Exit dept., here's what they offered me.
    For my MFV Platinum, they offered me, "The 'opportunity' to deed the unit back to them." I would get $0 from the transaction. They said "We see no value in MFV, so we would not even try to sell it for you. We would simply turn it into destination points and resell it."
    So then I said, out of curiosity, what would you do for my Aruba Surf Club Gold week. They said they have so much inventory that they could not even offer to sell it at that time, but I could be added to a waiting list to get onto the sales list. I told them to add me to the wait list for the wait list. It's been about 9 months now, and I have not been contacted to have my unit added to their sales list. I have no intention of actually doing that, I just asked them to add me to the wait list to see how long it would take to get to me.
     
  8. JIMinNC

    JIMinNC TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    3,297
    Likes Received:
    1,912
    Trophy Points:
    399
    Location:
    Marvin, NC (Charlotte suburb)
    Resorts Owned:
    Marriott:
    Maui Ocean Club
    Waiohai Beach Club
    Barony Beach Club
    Destination Club Trust
    HGVC:
    HGVC at Sea World
    While it doesn't make it any better for you personally, I think the answers you got on those two properties make sense given the realities of how MVC works with resales and buybacks. Most of the resales Marriott does now are probably part of the bundled Points/Resale week packages sold through the sales offices and telesales. As a result, they are looking to broker only those properties that have broad resale appeal across their franchise. Based on that, I can see that MFV may not have much value as property to bundle with points, so they would have an insufficient resale market for those weeks. The Aruba weeks can't be added to Marriott's Destination Club Trust, so the only thing they can do is try to broker those weeks. Aruba weeks are generally not sold as part of the bundle packages either, so that limits the number of units they sell and probably means it takes longer to work through their available sales list. The Aruba sales offices do sometimes sell enrolled resale weeks, but at high $20K to $30K or higher prices, so that further reduces the pace at which they can move resale Aruba weeks. If you ever need to sell your Aruba week, you would probably have more luck through an external resale broker.
     
    CalGalTraveler likes this.
  9. BocaBoy

    BocaBoy TUG Member

    Joined:
    Jun 5, 2009
    Messages:
    5,221
    Likes Received:
    334
    Trophy Points:
    368
    Location:
    Wisconsin
    Resorts Owned:
    Maui Ocean Club--Lahaina/Napili Villas; Ko Olina Beach Club; Grand Chateau
    This appears to be the case now, but when we did our trade-ins some 10 years ago, it was all handled as one transaction.
     
    taffy19 likes this.
  10. bazzap

    bazzap Tug Review Crew: Rookie TUG Member

    Joined:
    Nov 4, 2009
    Messages:
    3,170
    Likes Received:
    491
    Trophy Points:
    219
    Location:
    Cirencester UK
    If only it were still the same.
     
    taffy19 likes this.
  11. CanadaGuyEh

    CanadaGuyEh Guest

    Joined:
    Mar 21, 2019
    Messages:
    35
    Likes Received:
    11
    Trophy Points:
    8
    Resorts Owned:
    Hilton Grand Vacation - 2 platinums, Wyndham - 1 week, WorldMark 2 weeks
    Hope is just not another way for them to get you buy more - convince you is great and you need 3 more to make it better and "worth" it.
     
  12. JIMinNC

    JIMinNC TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    3,297
    Likes Received:
    1,912
    Trophy Points:
    399
    Location:
    Marvin, NC (Charlotte suburb)
    Resorts Owned:
    Marriott:
    Maui Ocean Club
    Waiohai Beach Club
    Barony Beach Club
    Destination Club Trust
    HGVC:
    HGVC at Sea World
    Marriott hasn't really actively marketed their resale program for a long time since they no longer sell developer weeks, so it's unlikely this will be used as a direct sales channel. The exit program is simply now a way for them acquire cheap weeks to bundle with DC Points for the hybrid bundles they sell through their regular sales channels.
     
  13. Ewiike

    Ewiike Guest

    Joined:
    Apr 17, 2018
    Messages:
    50
    Likes Received:
    9
    Trophy Points:
    18
    Resorts Owned:
    Marriot's Harbour Lake
    We just entered into this exit program with our yearly week 16 at Marriott Harbour Lake in Orlando Fl, and we also wanted to sell a platinum week( every other year), but they said we can give it back , but they not interested in to resale it....
    Well , we were told 15 years ago that it's such a great investment...:rolleyes:
     
  14. ski_sierra

    ski_sierra TUG Member

    Joined:
    Mar 17, 2019
    Messages:
    189
    Likes Received:
    84
    Trophy Points:
    78
    Location:
    SF Bay Area
    Resorts Owned:
    Worldmark, HGVC Craigendarroch, Marriott Grand Chateau
    It's good to read about this program. I'm curious if Marriott will take back dog weeks. They are the only ones who can take those weeks and sell it back at a high price. Repeat the cycle.
     
  15. bogey21

    bogey21 TUG Member

    Joined:
    Jun 8, 2005
    Messages:
    6,883
    Likes Received:
    1,594
    Trophy Points:
    449
    Location:
    Fort Worth, Texas
    When I decided to sell my Sabal Palms Week in the 80s I used Marriott Sales to sell it for me. Back then their commission was only 20%. While it took some 2-3 years for my Week to get to the top of their list they rented it for me while I was waiting for a Buyer also with a 20% commission. My net rental proceeds more than covered my MFs. I have to say that during this period they were great. They even helped me pick an in demand Week to rent. Obviously as their operation has gotten bigger things have changed...

    George

    PS While rereading the above it dawned on me that Marriott also successfully sold my Monarch Crown Suite Week that I had purchased resale. They sold it in less than 10 days for over $40,000 again with only a 20% commission...
     
    Last edited: Apr 22, 2019

Share This Page