A Marriott offer

[taffy19]

Did anyone receive an offer today to expand your ownership with the purchase of an additional week for up to 240,000 MRPs depending where or what you buy? There is an additional gift of a digital camera with a $50 gift card to Kodak EasyShare Gallery. I am not sure if this offer is only for present Marriott owners or for everyone? I know that most people here are looking for a good re-sale. The offer expires on 11/29/06.

Does this mean that sales are slowing down?

 

[Big Matt]

I received it also.

I'm not sure that sales are slowing down, but September, October, November and early December aren't big travel times so maybe they are trying to kick start some sales.

 

[IngridN]

Received the offer last week. Four are enough for now!

 

[camachinist]

Yes, Emmy, we did. And, yes, I think it's a response to a general slow-down, not something merely seasonal. Our house dropped around 20K in value this month, too. The free ride is over The trick is arbitraging the transition. If the huddled masses don't figure it out for another year, I'll feel a bit better.

My BIL is telling me CO property (unimproved land) is already in the midst of a slow descent, which he expects to accelerate short-term. If NCV can just hold those price increases one more year.....

We'll likely burn the last of our MRP's while in Oz in January and then switch our business over to IHG and Hilton. I've done real well with IHG (that's InterCont/Holiday Inn/Crowne Plaza) this year. I've yet to have the CS problems with IHG/Hilton that I've had with Marriott over the last two years, including MVCI. They need to get that under control before I'll consider them again.

It would be interesting to hear from TUG'ers who own the other hotel brands about any incentive changes...

Pat

 

[abouna]

the big increases in maintenance fees can't be helping sales much either. Maui is up about 40% since I bought, so much for the sales rep "not more than 3% or 4% a year!"

 

[camachinist]

Maybe we've been fortunate, but M/F's at NCV are up "only" around 15% since we bought nearly 3 years ago, based on the 2007 numbers just received. Still in active sales, there has been talk that a hidden developer subsidy still exists, but Marriott swears there is currently not one.

IMO, the current big target of developers is the middle class, most of whom are baby-boomers entering middle age with good earning potential and a boatload of home equity from the real estate run-up. As the economy tightens a bit and real estate softens, the home equity transfer into the timeshare marketplace will dry up, leaving those who otherwise have cash to spend on such things and those who don't mind developer financing costs. That's a significant movement, IMO.

I don't see post 9/11 incentives returning, but perhaps something in the middle. As I'm planning on selling prior to our resort ending new sales, I'll compare replacement incentives elsewhere at that time, as well as consider moving the capital into a softening land market.

Pat