[2008] SDKath's guide to 5* platinum [merged]

[okwiater]

Total MF approx $5200 for 500,050 SO

Resorts now owned: WSJ, SDO, SMV, SVV

How are your MFs so low? I'm assuming you own a 3br in WSJ and 2br everywhere else?

 

[czar]

How are your MFs so low? I'm assuming you own a 3br in WSJ and 2br everywhere else?

Okay, let's make sure my math is correct!

Three-bedroom Westin St. John is around $2400.

The two bedroom Bella unit is just shy of $1100.

The SDO is around $1100 I think?

And the Sheridan Mountain Vista is an every other year and I think the annual is around $1200

I don't recall the exact amounts I did look them up in the database and for the ones that are already listed in my account on my star Central.

So I come up with a number around $5200? I didn't calculate them with the SVN fee.

 

[okwiater]

And the Sheridan Mountain Vista is an every other year

Ahhhh, didn't realize it was an eoy. Yup your numbers look good. Great job making a great deal!

 

[LisaRex]

Does WSJ include properly insurance?

 

[czar]

Does WSJ include properly insurance?

Yes although it will increase a little from last year to this year.

The 3br BV is definitely the cheapest 3br option at WSJ compared to Hillside or CV (although Hillside is definitely larger and more extravagant!). We debated bw a 2br and 3 br when we were deciding to purchase; glad we went with the 3br.

Here's the breakdown. Came to $2425 last year with the SVN fee for addl week.

 

[2disneydads]

Help for a Clueless Newbie

Hello, All,

We are in the process of purchasing some resale intervals at Harbourside. If everything works out, we'll have a Gold Season 2 bedroom for about 97,000 StarOptions, a Gold Season 3 bedroom for 125,000 StarOptions and an EOY Silver Season 1 bedroom for 37,000 StarOptions (odd years). We're buying these to use at Harbourside, with some use of the StarOptions for stays at other VSE resorts. We got very good prices for the intervals, we believe.

Having stumbled upon this thread, I would be interested in learning how I could use these intervals (if at all) to springboard into 3, 4 or 5 Star elite membership. Any other VSE intervals we would buy would be for StarOptions purposes only, so we would choose most StarOptions for least maintenance fees. (We accept that the Harbourside maintenace fees will be high.)

Could anyone help guide my analysis to figure out if it is possible or economically feasible to try to get to elite status? Are the benefits worth the cost and effort? We're at the highest levels in HGVC and MVCI already, so we have systems where we get the benefits of elite membership.

I hate to be so clueless, but the VSE aspect of Harbourside originally was not something that was important to us, assuming that as resale buyers we had no shot at elite status. But this thread has intrigued me.

Thank you in advance for any guidance or advice anyone might be able to provide.

John (2disneydads)

 

[DeniseM]

Hi John -

[Oops - I corrected the math.]

The benefits of 3 and 4 Star Elite are minimal, so unless you are going to go all the way to 5 Star Elite, it is not worth the the cost involved. (Probably a minimum of $60K+ in your case.)

Starting where you are, it will require multiple (expensive) purchases from the developer, to reach 5 Star Elite, because you are still 390,000 Staroptions short. This is the equivalent of 2.6 2 bdm. lock-offs worth 148,100 Staroptions each.

5 Star Elite = Interval ownership equivalent to at least 649,000 StarOptions

Since we don't know what is going to happen with requalifying, Elite Status, or SPG Platinum, under the 2 new management companies, I think I would wait and see what happens before I proceeded with this strategy.

 

[LisaRex]

2disneydads, you have a few issues. First is that SPG (hotel branch of Starwood) was recently acquired by Marriott. The CEO has implied that the two programs will eventually merge, although not in the immediate future. However, it is widely speculated that this eventual merger will be a bad deal for SPG elites.

http://time.com/money/4114661/marriott-starwood-merger-rewards-points/
http://www.nytimes.com/2015/11/18/upshot/marriott-merger-has-starwood-lovers-nervous.html?_r=0

One would HOPE that Marriott would recognize SVO elites, including those who pumped hundreds of thousands of dollars into Starwood timeshares with the promise of earning SPG PFL (Platinum For Life or, more accurately, Platinum for as long as they owned their timeshares) status. However, with the acquisition, there are no guarantees. Even if Marriott recognizes Platinum status earned via SVO, it may not be for "life," and the benefits may be significantly diluted from what members enjoyed under Starwood.

So proceed with caution. I certainly wouldn't pump any more money into VSE timeshares with the expectation of getting elite status in a hotel program, especially since SVO/VSE was acquired by II and SPG is now owned by Marriott.

Your second issue is as DeniseM indicates. You'll have to buy several VOIs from the developer in order to qualify your resale purchases. We're talking tens of thousands of dollars, at a minimum, in order to achieve PFL status, which IMO WAS the only elite level worth pursuing. PFL was, indeed, very valuable, but only for folks who stayed in hotels. I mean, what good is the promise of a suite upgrade at the Westin in Paris, if you never travel to Paris? It's even more worthless if Marriott says that they'll honor your SPG Platinum status...for 2 years.

 

[YYJMSP]

Hi John -

[Oops - I corrected the math.]

The benefits of 3 and 4 Star Elite are minimal, so unless you are going to go all the way to 5 Star Elite, it is not worth the the cost involved. (Probably a minimum of $60K+ in your case.)

Starting where you are, it will require multiple (expensive) purchases from the developer, to reach 5 Star Elite, because you are still 390,000 Staroptions short. This is the equivalent of 2.6 2 bdm. lock-offs worth 148,100 Staroptions each.

5 Star Elite = Interval ownership equivalent to at least 649,000 StarOptions

Since we don't know what is going to happen with requalifying, Elite Status, or SPG Platinum, under the 2 new management companies, I think I would wait and see what happens before I proceeded with this strategy.

They're 408,500 short, since the EOY only counts for half its SO's...

Each requal still requires a minimum $20K developer purchase to go with it, but I don't think you'll find a developer unit worth 148,100 SO's for less than around $35K. That leaves them looking at spending around $105K to get to 5 Star Elite.

 

[DeniseM]

They're 408,500 short, since the EOY only counts for half its SO's...

Each requal still requires a minimum $20K developer purchase to go with it, but I don't think you'll find a developer unit worth 148,100 SO's for less than around $35K. That leaves them looking at spending around $105K to get to 5 Star Elite.

I agree - good catch on the EOY Staroptions.

 

[2disneydads]

Thank you all. It's not worth the money. When I need to use elite status, I'll stay with MVCI or HGVC. I might buy some other resale units with StarOptions, but that will be for use without any elite kicker. The only elite benefit that we use consistently is the early booking window with MVCI. It's a nice plus. We might use the other benefits as we start retiring, but not a whole lot now.

 

[DeniseM]

Thank you all. It's not worth the money. When I need to use elite status, I'll stay with MVCI or HGVC. I might buy some other resale units with StarOptions, but that will be for use without any elite kicker. The only elite benefit that we use consistently is the early booking window with MVCI. It's a nice plus. We might use the other benefits as we start retiring, but not a whole lot now.

With VSE - there is no early booking window. Really, the only significant Elite benefit is the SPG Platinum status and who knows what will happen to that, since Marriott bought out SPG.

 

[YYJMSP]

With VSE - there is no early booking window. Really, the only significant Elite benefit is the SPG Platinum status and who knows what will happen to that, since Marriott bought out SPG.

I'd say the benefits (highest to lowest value) are the wait-list, the extended dates/no fees for banking and conversion, and SPG Platinum and the 10% bonus on SPG conversion.

It probably doesn't make sense to spend in the range of $125K all-in to get there from scratch at this point in the game, especially given whatever changes are coming.

If all you're after is SPG Platinum, you can probably do that a LOT cheaper than your annual MFs if you actually stay at the hotels with that same money, which makes more sense since that status only has value at the hotels...

 

[Xer089d]

I am trying to grasp the $20,000 needed to retro.

If your week is valued at 10,000 by SVN ( making up numbers) is the 20k based on

10k retro + 10k cash = ***20k buying power***

Or

10k retro + ***20k cash*** = 30k buying power

Which ***20k*** are they looking for?

 

[tschwa2]

They generally want $20,000 in new money.
In terms of trade in they are also picky about what can trade in for what. They may value your week at $10,000 but depending on what it is they may only allow that trade in value to go for a more valuable unit at the same resort or even only toward a flexoption purchase.