Ovation

[donnaval]

I'm deeding back five contracts, but keeping a couple of El Cid contracts that age out their RTU over the next few years. BUT...

1. Submitted inquiry through the website last Thursday.

2. Received a call from the Ovation Dept. on Tuesday, very nice person, seemed very knowledgeable. Said I could keep what I wanted and deed back only what I wanted. I was not given the option of turning all back and keeping three years of usage. My contracts were all Ebay purchases, a mix of points and converted fixed weeks. My concern was retaining my RCI account, which has a boatload of points I had to dump last year and this. She said by keeping the contracts I'm keeping, I'd retain my RCI account.

3. Today received several emails with the required documents - however, one email said it was attaching the deeds for two contracts, but only one was attached.

4. I just checked my Wyndham account to make sure the contract numbers were correct, and found that the El Cid contracts are no longer showing in my ownership summary, only the five contracts I am returning! So, once I deed these back - what happens to my account?

This makes me wonder if they are creating a "new" account for me with the El Cid points only, and that I'll lose my RCI account after all when these five are canceled out??? I will call tomorrow to find out what's going on.

I would be curious to hear from those who have retained some contracts whether their online information has been changed like this, or if you're farther along in the process if you retained the very same account online or were issued a new one????

 

[traveldaddy]

We should have a pool. I vote they will clear the reservations and take the points.

But what would they do if the points were pooled and used for a reservation, and the reservation was already used?

Could be interesting....

 

[raygo123]

Probably just charge mf till end of the year.

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[ronparise]

I'm deeding back five contracts, but keeping a couple of El Cid contracts that age out their RTU over the next few years. BUT...

1. Submitted inquiry through the website last Thursday.

2. Received a call from the Ovation Dept. on Tuesday, very nice person, seemed very knowledgeable. Said I could keep what I wanted and deed back only what I wanted. I was not given the option of turning all back and keeping three years of usage. My contracts were all Ebay purchases, a mix of points and converted fixed weeks. My concern was retaining my RCI account, which has a boatload of points I had to dump last year and this. She said by keeping the contracts I'm keeping, I'd retain my RCI account.

3. Today received several emails with the required documents - however, one email said it was attaching the deeds for two contracts, but only one was attached.

4. I just checked my Wyndham account to make sure the contract numbers were correct, and found that the El Cid contracts are no longer showing in my ownership summary, only the five contracts I am returning! So, once I deed these back - what happens to my account?

This makes me wonder if they are creating a "new" account for me with the El Cid points only, and that I'll lose my RCI account after all when these five are canceled out??? I will call tomorrow to find out what's going on.

I would be curious to hear from those who have retained some contracts whether their online information has been changed like this, or if you're farther along in the process if you retained the very same account online or were issued a new one????

My el-cyd contract does not show in my ownership summary either.Neither do my Royal Vacation Suites or a few of the Bali-Hai contracts. Check the financial services/online assessments page I bet you will see it there

This seems to be a thing with affiliate resorts

 

[ronparise]

We should have a pool. I vote they will clear the reservations and take the points.

Im taking the other side, If they take the deeds, Ill keep the reservations (and the points... Well see

for me the big question is will they take 40 contracts in one big bite... If they do Im happy with or without the points

 

[donnaval]

Thanks for that info, Ron - they do show under the assessments. I would've sworn they showed up with the ownership summary before, but I guess I had been looking at this page instead! Feeling better about my RCI account now, whew.

 

[Bigrob]

has anyone turned in a straight fixed week successfully?

 

[donnaval]

We're in the process of doing one, BigRob - it takes a little longer, I guess since Wyndham doesn't control the ownership info to the same degree they do with the points contracts. We are turning in a Pagosa lock-off. They said it will take up to two months to get the documents (versus just a couple of days for the points), and then another couple of weeks to close out when the docs are returned. Tugger shawnhayes provided more detailed info on his process in this thread: http://tugbbs.com/forums/showthread.php?t=231211

 

[raygo123]

I turned in a week that the hoa broke off of Wyndham and we decided to stay with Wyndham so bought into points.
!ailed last Wednesday gone put of !y account today

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[raygo123]

Out of my account as of toast

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[raygo123]

Dang its is out of my account as of today

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[raygo123]

It was rrsale

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[mistalong]

has anyone turned in a straight fixed week successfully?

Rob I did last year right before they announced the program. I posted then. No problems whatsoever. Labor Day weekend studio at Santa Barbara.

 

[Conan]

OK, here's the same document scanned .jpg and .pdf

http://1drv.ms/1ALYpkH

http://1drv.ms/1vPHqhd

Since those links seem to have expired, here's a new link to the list of Limited Edition-eligible properties (as of 12/2014):

http://bit.ly/1PiyW6K

 

[roseamb60]

Just search for completed auctions for "wyndham points"; there's gotta be about a dozen points-related deeds just in July that ended under $200. There's a bunch of others that had no bids. Many of these are going thru PCC's, so the net proceeds to the underlying seller is probably negative.

If these people knew about Ovation, why on earth would they put up with that?

Hi Pleading ignorance here Wha tis a PCC ? Thanks Rose

 

[pedro47]

Every five (5) years Wyndham will introduce a new and better mouse trap.Now it is Ovation. When will it end.

 

[ronparise]

Hi Pleading ignorance here Wha tis a PCC ? Thanks Rose

PCCs are named for their favorite marketing method Post Cards although I think most are now using email

These are the timeshare liquidation companies that will agree to take your timeshare, and end your maintenance fee obligation for a fee ; usually several thousands of dollars

 

[comicbookman]

Every five (5) years Wyndham will introduce a new and better mouse trap.Now it is Ovation. When will it end.

I turned in a small contract using Ovation. It cost me less than the 2 I sold, just before Ovation started. (I had to kick in money on the sales, but not with Ovation) It does not seem to be a mouse trap. Completely voluntary, owner initiated transaction that is actually free (unless you are in situation where you must pay to get documents notarized, but most can get that free) Exactly what tuggers have been clamoring for, a dev that will take back unwanted paid off contracts. Of course it just gives them more inventory to sell at ridiculous prices, but it is ideal for owners who have TS with zero resale value.

For once a developer is doing something useful to owners who are looking to get out.

 

[donnaval]

It does not seem to be a mouse trap. Completely voluntary, owner initiated transaction that is actually free (unless you are in situation where you must pay to get documents notarized, but most can get that free)

I'm very pleased with the way Ovation has worked for us. We turned back six small contracts with no resale value, and kept four RTU contracts that age out in a few years. We did have to pay about $50 in notary fees because of all the documents involved, but it was $50 VERY well spent. Wyndham left all of our unused 2015 points in our account - we weren't sure if they'd be removed since we had used a good chunk of points (more than we turned back) so I think they were more than fair with us. Our only snafu was when they removed the contracts from our account they coded something incorrectly and we had no online access to the account for several weeks until they figured out what they'd done. We also turned back an unconverted fixed week with no value. We paid only pennies for these contracts and had good use of them over the years but with age and health issues rearing their nasty heads, we were thrilled to be given this option to clean up our timeshare situation with Wyndham.

If anyone is considering this option, I'd urge you to look into it now while it's still being offered.

 

[am1]

I turned in a small contract using Ovation. It cost me less than the 2 I sold, just before Ovation started. (I had to kick in money on the sales, but not with Ovation) It does not seem to be a mouse trap. Completely voluntary, owner initiated transaction that is actually free (unless you are in situation where you must pay to get documents notarized, but most can get that free) Exactly what tuggers have been clamoring for, a dev that will take back unwanted paid off contracts. Of course it just gives them more inventory to sell at ridiculous prices, but it is ideal for owners who have TS with zero resale value.

For once a developer is doing something useful to owners who are looking to get out.

The mousetrap is that Wyndham will re sell these contracts to other owners at retail.

I like it but it sets a bad precedent in that Wyndham acknowledges that what they are selling is worthless when it comes to an investment. We already all know that.

Because of this less new resorts will be built.

 

[linsj]

Anybody know if this program includes floating Pahio weeks that were not converted to Wyndham points? A friend with a nonoceanfront view wants to get rid of her unit. The property is on the accepted list. It's not worth much on the market, and she doesn't want to spend time trying to sell it. This would be a good option for her if it works.

 

[donnaval]

Tell your friend to call and ask - try this number to start: (877) 234-3435. If that's not the right number they will point her in the right direction.

Everyone I spoke with at every step of the process was friendly and helpful and seemed very knowledgeable about the program.

One of the units we turned back in was an unconverted fixed week. It took a little longer than the points contracts, not exactly sure why. But with the fixed week, I called in, they then put me on hold to verify whether they would take back the week, and then said they would but that it would take up to two months to get the paperwork. And, since both my and my husband's names are on the deed, my husband had to get on the phone and verify that he, too, wanted to turn back the week. It took a little less than two months, and when it came the deed was incorrect (had a previous owner listed as a current owner along with us), so that took a few phone calls to straighten out, but then they emailed new paperwork and everything went smoothly after that.

 

[ronparise]

The mousetrap is that Wyndham will re sell these contracts to other owners at retail.

I like it but it sets a bad precedent in that Wyndham acknowledges that what they are selling is worthless when it comes to an investment. We already all know that.

Because of this less new resorts will be built.

I dont think it means less new resorts will be built. (or bought) Wyndham is a developer and developers develop. Their goal is to keep their cost of goods sold at about 16% of what they sell it for. These takebacks help them hit that number, and make for a nice profit center, but Wyndham is still developing new product

Remember Wyndham sees themselves as a growth company and so does wallstreet. Flipping points is, as I said , a nice profit center but its not growth.. They need new resorts and new owners for that

 

[ronparise]

Every five (5) years Wyndham will introduce a new and better mouse trap.Now it is Ovation. When will it end.

I dont think so, What I think is all those other programs (remember pathways) were tests or trial balloons all part of the development of Ovation. I think they are committed now. Wyndham will be the buyer of last resort for their own product

 

[am1]

I dont think it means less new resorts will be built. (or bought) Wyndham is a developer and developers develop. Their goal is to keep their cost of goods sold at about 16% of what they sell it for. These takebacks help them hit that number, and make for a nice profit center, but Wyndham is still developing new product

Remember Wyndham sees themselves as a growth company and so does wallstreet. Flipping points is, as I said , a nice profit center but its not growth.. They need new resorts and new owners for that

Yes less new resorts will be built because of ovation.