Opinion on Ovation Offer

[PeterS]

Just wanted to run this past all the Wyndham experts.

We have had many many years of great experiences but times and our travel patterns are changing.
We have been thinking about selling in the next 3-5 years....

Then we heard about Ovation...
I called just out of curiousity and they offered to take it under the Limited Edition so we would get three years of points for no charge...

We have two weeks that total out as 350K points with VIP and total annual fees at about $2100.

We assumed if we sell it ourselves in a few years, we would probably be for $0 and we would have to front some money for fees, transfer , etc... so it would be actually cost us a little money to let it go.

Under Ovation, I am looking at it as the three years of usage are worth $6,300+ as that is what we would save in fees.

Both options fit our 3-5 year window.

We have one other week that can get us all the getaways from RCI and II that we need.

It seems like this may be the best option to fit our situation... Am I missing something?

Any insights are appreciated....

Pete

 

[vacationhopeful]

Pete,
Did they give you a window of TIME on this offer to deed the intervals back to Wyndham?

First off, your $$ analysis is basicly right. No MFs and 3 years to use the points. If you have upcoming reservations BOOKED, ask before agreeing to the Ovations deal ... if you can select WHICH weeks/stays you want to keep as part of the deal using those ... and get it in writing.

They might give you a new member number or require you to call a special contact phone number. Ask if you can send a family member/good friend .. or if ONLY the listed members on the account can use the vacations stays via Ovations. Ask if reservations are call in ONLY or use the web site.

Most other owners who have reported on TUG mention it is fast & quick in the deal getting done ... just about like when you brought your points from the timeshare salespersons.

 

[PeterS]

Linda,

They said it is available now but no guarantees for how long...

What I was told:
All Wyn reservations left for 2017 would be cancelled.
All Wyn points left for 2017 would be lost.
Points sent to RCI that have not been traded will be lost.
Ovation and RCI, said all RCI weeks already confirmed with points will be honored since trade fees have been paid.

The three years will be a new phone only account.... Old Wyn account is deleted and Old RCI account is suspended until the open trades pass.
I see the downsides as it is only for Wyn resorts, no more than 10 months in advance, and no online searching.

I have heard the process has slowed quite a bit since the website issues...

I can see why it doesn't fit everyone's situation. Ten years ago, this may have not been right for us.
It seems to fit our situation right now.... unless I missed something... that is...

Pete

 

[Nomad34]

Just wanted to run this past all the Wyndham experts.

We have had many many years of great experiences but times and our travel patterns are changing.
We have been thinking about selling in the next 3-5 years....

Then we heard about Ovation...
I called just out of curiousity and they offered to take it under the Limited Edition so we would get three years of points for no charge...

We have two weeks that total out as 350K points with VIP and total annual fees at about $2100.

We assumed if we sell it ourselves in a few years, we would probably be for $0 and we would have to front some money for fees, transfer , etc... so it would be actually cost us a little money to let it go.

Under Ovation, I am looking at it as the three years of usage are worth $6,300+ as that is what we would save in fees.

Both options fit our 3-5 year window.

We have one other week that can get us all the getaways from RCI and II that we need.

It seems like this may be the best option to fit our situation... Am I missing something?

Any insights are appreciated....

Pete

Checked a few years ago (2015) and got what you are reporting now but decided against it as it was phone only plus $60.00 for each reservation and nothing said about housekeeping fees. Since I get discounts, upgrades and no housekeeping I have enjoyed two more years before I have to do something after this year. I also had to cancel the resedvatiinss for November and not book again until April. I may have to go that route come this December but hopefully can resell.

 

[vacationhopeful]

Checked a few years ago (2015) and got what you are reporting now but decided against it as it was phone only plus $60.00 for each reservation and nothing said about housekeeping fees. Since I get discounts, upgrades and no housekeeping I have enjoyed two more years before I have to do something after this year. I also had to cancel the resedvatiinss for November and not book again until April. I may have to go that route come this December but hopefully can resell.

Most people can sort of handle the MUST USE CALL CENTER to make reservations .. BUT the $60 to make each reservation? Haven't read that on TUG before.

 

[PeterS]

If I decide to go in the Ovation direction, I will confirm if there is any costs to trade (res,housekeeping,etc...)
I am not sure that a $60 res fee would completely defer me against avoiding thousands in maintenance fees.

I can only assume when you said they would make you cancel reservations for November and wait until April to rebook, that this was a Wyndham resort booked directly with Wyndham, as they would be cancelled upon finalizing the Ovation contract.

Pete

 

[Nomad34]

True ,the $60 wouldn't have been a problem if I didn't have the $3000. Charge with Buy a Timeshare.

 

[Roger830]

We have two weeks that total out as 350K points with VIP and total annual fees at about $2100.

We assumed if we sell it ourselves in a few years, we would probably be for $0 and we would have to front some money for fees, transfer , etc... so it would be actually cost us a little money to let it go.

Under Ovation, I am looking at it as the three years of usage are worth $6,300+ as that is what we would save in fees.

Both options fit our 3-5 year window.

We have one other week that can get us all the getaways from RCI and II that we need.

It seems like this may be the best option to fit our situation... Am I missing something?

Any insights are appreciated....

Pete

Your mf is $6 per 1000 points which is about average therefore no bargain for a buyer. It seems that giving up the contracts is to your advantage even if you don't use the points.

If sales slow, the deal might not be available in the future.

Many owners have paid thousands of dollars to unload a contract and some weren't successful.

 

[Nomad34]

Your mf is $6 per 1000 points which is about average therefore no bargain for a buyer. It seems that giving up the contracts is to your advantage even if you don't use the points.

If sales slow, the deal might not be available in the future.
http://www.alabamachild.org/main/locations/
Many owners have paid thousands of dollars to unload a contract and some weren't successful.

This is very true. I know when Wyndham offered Pathways at 20% of our purchase price it sounded terrible to pay thousands more to retrieve it snd rescinded it after my trustees refused support. Now it might have been good. 20% of $45k vs 0

 

[PeterS]

Your mf is $6 per 1000 points which is about average therefore no bargain for a buyer. It seems that giving up the contracts is to your advantage even if you don't use the points.

If sales slow, the deal might not be available in the future.

Many owners have paid thousands of dollars to unload a contract and some weren't successful.

That confirms that our points are only average for fees so it not something that would have great demand for selling. So selling would not be quick or easy and probably cost us money.

As far as the usage of points, that is what we were thinking... if we used everything, we get $6,300 payment in usage but since the alternative of selling would cost us money, any points we use puts us that much further ahead.

Thanks for the insight and info.

 

[Jan M.]

This is very true. I know when Wyndham offered Pathways at 20% of our purchase price it sounded terrible to pay thousands more to retrieve it snd rescinded it after my trustees refused support. Now it might have been good. 20% of $45k vs 0

With Pathways there was no guarantee that they would take all or even anything back. The way it was worded was that they would give you 20% but only on what they were willing to take back. I remember because that was one of the last sales presentation we sat through. They were trying to sell us on CWA points and Pathways. When my husband found out they would only take back what they wanted and no one could tell him what that might be, he said he would give our deeds away before he would give them back anything for 20% of what we paid.

 

[markb53]

With Pathways there was no guarantee that they would take all or even anything back. The way it was worded was that they would give you 20% but only on what they were willing to take back. I remember because that was one of the last sales presentation we sat through. They were trying to sell us on CWA points and Pathways. When my husband found out they would only take back what they wanted and no one could tell him what that might be, he said he would give our deeds away before he would give them back anything for 20% of what we paid.

Some one posted the actual contract from Wyndham and it said, up to 20%. There's was not promise that they would even give you anything at all.

 

[Jan M.]

Some one posted the actual contract from Wyndham and it said, up to 20%. There's was not promise that they would even give you anything at all.

Up to 20%! That's even worse than what we understood about the program. So many people spent $10-30k just to get that program.

There is a couple we met at one of the resorts that I stayed in touch with for several years until she got upset with me for trying to talk them out of spending more money just to get the Pathways program. They had no kids of their own but worried about burdening the nieces and nephews with their all developer purchased deeds when they were gone and liked the idea that Wyndham would pay their heirs something for the timeshare deeds. I even told her that they would be better off buying a life insurance policy or investing that same amount of money which would leave their heirs a nice sum of money to pay the maintenance fees for years.

 

[cayman01]

Just wanted to run this past all the Wyndham experts.

We have had many many years of great experiences but times and our travel patterns are changing.
We have been thinking about selling in the next 3-5 years....

Then we heard about Ovation...
I called just out of curiousity and they offered to take it under the Limited Edition so we would get three years of points for no charge...

We have two weeks that total out as 350K points with VIP and total annual fees at about $2100.

We assumed if we sell it ourselves in a few years, we would probably be for $0 and we would have to front some money for fees, transfer , etc... so it would be actually cost us a little money to let it go.

Under Ovation, I am looking at it as the three years of usage are worth $6,300+ as that is what we would save in fees.

Both options fit our 3-5 year window.

We have one other week that can get us all the getaways from RCI and II that we need.

It seems like this may be the best option to fit our situation... Am I missing something?

Any insights are appreciated....

Pete

What exactly do you have? Where are they deeded? Is it more than one contract? Are they weeks converted to points or straight UDI points. We can better give you an idea of the worth of them if you give us this info .

 

[PeterS]

What exactly do you have? Where are they deeded? Is it more than one contract? Are they weeks converted to points or straight UDI points. We can better give you an idea of the worth of them if you give us this info .

I don't want this to turn into a classified so I only gave the info I thought was critical.
If it changes anything...
2 contracts same resort in Orlando so each converted week at 175K and $1050 MF.

From earlier posts and other messages... the sale potential is not bad nor great but just average... it seems it is average MF and should move but in time and near $0 or even at a small cost. I ran some uses for the Limited Edition points and am fairly sure I can use about 80% of them over the 3 years. So that is about $5000 in usage (80% of $6300) and I still have the potential to go higher.

After reviewing everything including the comments here, we are leaning toward Ovation for the ease/speed in executing the transfer, and the value received.

 

[cayman01]

I don't want this to turn into a classified so I only gave the info I thought was critical.
If it changes anything...
2 contracts same resort in Orlando so each converted week at 175K and $1050 MF.

From earlier posts and other messages... the sale potential is not bad nor great but just average... it seems it is average MF and should move but in time and near $0 or even at a small cost. I ran some uses for the Limited Edition points and am fairly sure I can use about 80% of them over the 3 years. So that is about $5000 in usage (80% of $6300) and I still have the potential to go higher.

After reviewing everything including the comments here, we are leaning toward Ovation for the ease/speed in executing the transfer, and the value received.

I agree with you. Go for the free points for three years. You would get less than half of that selling them retail.

 

[Sandi Bo]

I agree with you. Go for the free points for three years. You would get less than half of that selling them retail.

A tricky/sticky thing for me (and what stopped me from transferring ownership amongst eligible relatives using Ovations or Legacy or whatever they are calling it these days) is that I think they cancel existing reservations. They could not clearly tell me what would happen and it was just too risky that existing reservations would be forfeited. And that's not feasible for me at this time.

It's been awhile since I called and maybe they know more now. But I didn't have warm fuzzies that the Ovations people knew for sure what would happen and couldn't answer my questions.

 

[PeterS]

Thanks for all the help. We have decided to start the process...

The Ovation people seem to be on the same page... they confirmed as I stated before

All Wyn reservations left for 2017 would be cancelled.
All Wyn points left for 2017 would be lost.
Points sent to RCI that have not been traded will be lost.
Ovation and RCI, said all RCI weeks already confirmed with points will be honored since trade fees have been paid.

The interesting part is they said there may be a slight delay in getting the Limited Edition instructions as they are making changes to how you access Limited Edition.
Unofficially they said it seems the new system allows them to let you to keep your owner number and account but it strips the old ownership contracts and replaces them with a Limited Edition 3 year contract...
Which means, reservations/searches can be done online... also they said the housekeeping credits and reservation credits are the same as the original contracts... so if you had unlimited... it stays that way.

Now we will see if they stick to their word and how easy this goes...

 

[nicemann]

Thanks for all the help. We have decided to start the process...

The Ovation people seem to be on the same page... they confirmed as I stated before

All Wyn reservations left for 2017 would be cancelled.
All Wyn points left for 2017 would be lost.
Points sent to RCI that have not been traded will be lost.
Ovation and RCI, said all RCI weeks already confirmed with points will be honored since trade fees have been paid.

The interesting part is they said there may be a slight delay in getting the Limited Edition instructions as they are making changes to how you access Limited Edition.
Unofficially they said it seems the new system allows them to let you to keep your owner number and account but it strips the old ownership contracts and replaces them with a Limited Edition 3 year contract...
Which means, reservations/searches can be done online... also they said the housekeeping credits and reservation credits are the same as the original contracts... so if you had unlimited... it stays that way.

Now we will see if they stick to their word and how easy this goes...

Congrats on getting what you needed. Maybe a stupid question, but you have points till left in 2017 what stops someone from just doing a last minute rental? Find something that has availability in the Wyndham system and just use a guest certificate. At the right price anything is rentable.

 

[PeterS]

Congrats on getting what you needed. Maybe a stupid question, but you have points till left in 2017 what stops someone from just doing a last minute rental? Find something that has availability in the Wyndham system and just use a guest certificate. At the right price anything is rentable.

If you made (or had) a reservation in the Wyndham system for a future week... it will be canceled.

It may work if you waited until all the reservations were used but while you are waiting for the last one to pass, the offer could change or be discontinued.

 

[PeterS]

Just a followup...

When I started this thread, I had already started the Ovation process, but had not received the documents. I would have 14 days to review them or the offer could be withdrawn.... I wanted to make sure I was doing the right thing. We got the paperwork and thanks to everyone here, I was sure it was the right thing for us.

You get warranty deeds for each unit, a general contract of releasing the contracts to Wyndham, and a Limited edition sign up form. Got everything signed and notorized and back to them and in less than two weeks, it is done. Old contracts are gone and Limited Edition is up and running, ready to make reservations.

In my experience, Ovation is a simple, quick and viable alternative that is worth considering but YMMV...

I also wonder if the spliting off of Wyndham's timeshare group will change Ovation. They were very careful to explain the offers can change or be discontinued at any time as demand or situations change. So if you are considering it.. keep that in mind.

Thanks

 

[breezez]

IMHO, Wyndham continuously shows their in ability to be up front a honest.

Ovation is a good option if you got dog contracts with high MF's or if you trying to unload one fast that is resale. It is good if you are VIP and want to get out, but I just wouldn't trust the 3 years of points and great vacations on them. While I am sure you will get the points they offer, I'll bet the places you are offered via your phone booking will be extremely limited stuff nobody wants anyway. Then there are the hold times, people wait now for 1+ hour to speak with VC's now because of website or account issues, and many times VC's can't help them either. I would have no faith in booking over phone with no access to really see what inventory is.

So don't get me wrong it's a cost effective way out, but don't think your going to get the same value and accommodation you can get now with your account.

With economy picking back up, so are resale prices. Stuff being given for free or better than free a few years ago is going for a lot more money now. Not developer prices, but for a few hundred or a few thousand. So if you want to have same ability to use over next few years at current trends you will still probably be able to get rid of for something in the future.

If I was at the point in life I was winding down my travels, I would go buy a cheap 28K Wyndham contract just to get access to RCI last calls and put as many people in my family that wanted on it on it.

 

[PeterS]

My contracts were average with just average MFs... I probably could have sold them but it would have taken time and after expenses I don't think I would have ended up with much.

As far as Limited Edition.... when they stripped my online account of those contracts, they added the Limited Edition contract...
All three years points show available, and they can be used to search and book online... the result looks identical to what I was pulling with my weeks. Only thing is just 10 month window. Also, I have the same number of free reservations and guest certificates available to me each year. Just as they stated... the same as my original contracts..

I agree about access to Last Calls, Getaways, etc... and we kept one non-Wyndham week that is dually affiliated with RCI and II for that reason.

For three years, all I will miss is the fees... then I just grab extra weeks as needed...

Also, we didn't do this because we are winding down traveling... just the opposite... Traveling more and vacationing less... We are cruising more and planning trips to cities and areas that aren't into timesharing...

 

[GoldWingGirl]

Just a followup...

When I started this thread, I had already started the Ovation process, but had not received the documents. I would have 14 days to review them or the offer could be withdrawn.... I wanted to make sure I was doing the right thing. We got the paperwork and thanks to everyone here, I was sure it was the right thing for us.

You get warranty deeds for each unit, a general contract of releasing the contracts to Wyndham, and a Limited edition sign up form. Got everything signed and notorized and back to them and in less than two weeks, it is done. Old contracts are gone and Limited Edition is up and running, ready to make reservations.

In my experience, Ovation is a simple, quick and viable alternative that is worth considering but YMMV...

I also wonder if the spliting off of Wyndham's timeshare group will change Ovation. They were very careful to explain the offers can change or be discontinued at any time as demand or situations change. So if you are considering it.. keep that in mind.

Thanks

 

[GoldWingGirl]

Hi PeterS,
We are considering the Ovation option to get out of contract. Are you still in the process and if complete, do you still feel this is the way to go? Was there anything you were blindsided with?