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If we were to buy a deeded week, is Marriott exercising ROFR on these type of sale/purchases? Is there a thread to see the current level these are being exercised at?
It really depends on the property and/or season. I tend to think of Hawaii units as highly susceptible to ROFR if the contract price is low. On the other hand, a location like Orlando can see a Platinum Season 3BR unit at Grande Vista get past ROFR at $3k. It really comes down to where you would consider buying. Also, if you are thinking about a hybrid purchase, the available weeks through Marriott Resales will be limited to certain properties while there are plenty of straight-up Marriott weeks available for resale purchase through numerous realtors and websites like Redweek.com and eBay.com.
JIMinNC - my wife just had a look at your upcoming bookings and said "we want to be just like him". Could I ask how large of a Marriott contract you have to accomplish that number of bookings? Did you do the cruise booking through Marriott, and was it cost effective?
The cruise in September will be a cash reservation. It is NOT something we used our Marriott ownership for. The Cabo trip in February is one of those $299 promo packages where we have to sit through a 90 minute Westin/Vistana sales presentation plus one add-on night at the cash rate. The May Sedona trip is an RCI timeshare exchange using a week we had leftover in RCI from a non-Marriott timeshare we used to own and sold in 2014.
The April 2018 trip to Hilton Head is using Marriott Points from 2018 and borrowed Points from 2019. The November 2018 Palm Desert is a Marriott-to-Marriott II trade using our 2017 Barony Beach Club week (technically it’s using a replacement week we got from II after a Sept 2017 trade was cancelled due to the hurricane, but the original deposit was our 2017 Barony week).
So it was only these last two that we used our Marriott ownership for. We own 1750 pure Trust Points, plus a Silver season Barony week that is worth 1625 Points, for a total of 3375 every year. We bought this in 2014 in a “hybrid” package from Marriott. So we have the option to elect the week for points or use it in the weeks system.
So, the April 2018 HHI booking uses basically our 2018 and 2019 Trust Points. The November 2018 Palm Desert booking is originally from our 2017 Barony Beach Club week. Our 2018 Barony week is currently on deposit with II and being used to search for a 2019 vacation at one of several Marriott resorts.
JImInNC - thanks for clearing up the hybrid concept. These are obviously "weeks" that MVC owns - possibly through ROFR, and are selling as a package.
Would you expect to pay $11 to $12 net for the entire package? Using your example this would be 11 or 12 x 5850 = $64,350 to 70,200. (I understand it would probably be the full price and they would give MR points to help soften the blow).
Or would it be better to purchase the same package on the open market for a total cost including junk fees of about $6.50 x 5850 = 38,025, knowing that the week could only ever be used, or deposited with II, for a net savings of $32,000.
JImInNC - thanks for clearing up the hybrid concept. These are obviously "weeks" that MVC owns - possibly through ROFR, and are selling as a package.
Would you expect to pay $11 to $12 net for the entire package? Using your example this would be 11 or 12 x 5850 = $64,350 to 70,200. (I understand it would probably be the full price and they would give MR points to help soften the blow).
Or would it be better to purchase the same package on the open market for a total cost including junk fees of about $6.50 x 5850 = 38,025, knowing that the week could only ever be used, or deposited with II, for a net savings of $32,000.
JImInNC - thanks for clearing up the hybrid concept. These are obviously "weeks" that MVC owns - possibly through ROFR, and are selling as a package.
Would you expect to pay $11 to $12 net for the entire package? Using your example this would be 11 or 12 x 5850 = $64,350 to 70,200. (I understand it would probably be the full price and they would give MR points to help soften the blow).
Or would it be better to purchase the same package on the open market for a total cost including junk fees of about $6.50 x 5850 = 38,025, knowing that the week could only ever be used, or deposited with II, for a net savings of $32,000.
These are not weeks that MVC owns. The Marriott Resales weeks are typically owned by individuals and Marriott is acting as a broker in the transaction. So, if you buy a week from Marriott Resales, the transaction will be between you and the seller, with Marriott acting as a broker. The seller pays Marriott's broker commission. When Marriott exercises ROFR on a week, they generally will then deed it over to the MVC Trust, adding to Trust inventory.
As Fasttr said above, you would pay the $11-$12/point only on the pure points part of the hybrid. In my example that would be the 3000 pure Points. So that would cost you $33,000 to $36,000. The week portion can vary, but as Fasttr said, most hybrids come in with a blended price per point of about $7-$8/point. So the theoretical 5850 example would likely cost you $41,000 to $46,000.
Your math for the open market comparison is also not quite right. If you bought the same 3000 pure points on the open market from a third party, after the junk fees, that would likely be somewhere around $20,000 (assuming an all-in price of $6.50 to $6.75 per point). If you then bought a resale week, you just pay whatever price you could negotiate for that week (which can vary greatly, depending on the week), but that week will be ineligible to be converted to points, so you lose the points option.
They do not charge the junk fees for resale weeks. The resale weeks purchased from Marriott Resales as part of a hybrid get automatic enrollment in the points system because the hybrid bundle includes a bucket of points at the retail price. Weeks purchased from third parties outside of a Marriott-brokered transaction are ineligible for points participation, so no junk fees are assessed because that week will have no point value and no right to participate in the Points system. That third party resale week can only be used as a traditional week or II trader - no points transactions allowed - so no point value on which to assess a fee.
I get that MF's are charged on points at a rate of $0.53 per point and they are subject to change.
How do they assess MF's on weeks. Do you pay one type of MF if the week if used as a week, and then revert to the points based .53 fee if you use the week as points in any particular year?
Do the week MF's vary from resort to resort?
Likewise does the week trading value to convert to points vary from resort to resort?
I get that MF's are charged on points at a rate of $0.53 per point and they are subject to change.
How do they assess MF's on weeks. Do you pay one type of MF if the week if used as a week, and then revert to the points based .53 fee if you use the week as points in any particular year?
Do the week MF's vary from resort to resort?
Likewise does the week trading value to convert to points vary from resort to resort?
If you check out the second tab in the spreadsheet, he does a quick comparison for you of the MF/point, just so you can see how efficient any specific week would be as a point generator when considering annual MF costs. Anything below the $0.53 would be an efficient point generator, anything higher than $0.53 would be a less efficient point generator than pure Trust points.
oh so is that VacationPointsExchange? I have heard of it and did not realize is was TUG people. That is probably a good source if we jump into a smaller package to get our feet wet, and rent points to fullfill the needs.
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