I think we would like better transparency into what "is". Regardless of whether what "is" is fair or not, we are not even clear what "it" is. Based on the language in the agreement, Wyndham has two separate rights; one to book at any point (as owner of points); and one to book within 60 days ("developer rights"). It would be helpful to understand what Wyndham is actually doing with each of these rights, regardless of whether we agree that those rights are legitimate and/or create any OCI issues.
Particular questions that I have are:
1) how many reservations are made by Wyndham beyond 60 days? At what times and at what resorts?
2) for reservations taken within 60 days; are actual points taken from Wyndham account(s) to hold these reservations? How is the 10% of inventory preserved? systematically? (shudder)
3) for reservations taken within 30 days; (could be ALL remaining inventory) - same question, are points taken from Wyndham account(s) to hold these reservations
4) for reservations held that enter the cancellation window, does Wyndham forfeit points if the reservations are subsequently released?
The point being, Wyndham should not have the ability to reserve as much inventory as may be allowed in the trust language, throughout the course of the year.
I would also guess that there is at least some consideration that it is not a sustainable model for Wyndham to reserve all the desirable reservations ahead of owners. If that were the case, Ron may have had more difficulty getting his Mardi Gras reservations.
