Cancellation policies in different TS systems [not related to Covid-19]

[ski_sierra]

While I was reading a thread in the Vistana forum, it struck me that reservations made with Marriott/Vistana currencies have more restrictions even under regular times than other systems. These are the cancellation policies that I'm aware of

• Worldmark: 30 days or 10 day or 2 days depending on how far in advance reservation was made
• Hilton: 30 days and possibly 1 day with a workaround
• MVC points: 60 days and then they become restricted
• Vistana SO: 60 days and then they become restricted
• Hyatt: I don't fully understand but I think it's 60 days as well

Personally, I think 60 days is too restrictive.

Additional systems reported by commenters:

• Wyndham is 15 days, but you can buy points protection (for $49-$99 depending on the points used for a reservation) to allow cancellation up to the day of check in.
• Vacation Internationale 30 days
• Shell Vacations Club 60 days to 15 days - lose 20 % of your points - 14 days lose everything
• For Vidanta, 30 days, but costs $50.
• Exchange companies
  • RCI Points - Basically 25% or points each month starting 4 months out to 75% of points at 29 days out
  • For ThirdHome it's no less than 14 days prior to check-in, though that limit may be waived at their discretion.
  • For The Registry Collection, it depends on what the home resort is because they negotiate different terms and conditions.

 

[Ken555]

What would you prefer?

 

[ski_sierra]

What would you prefer?

I like Worldmark's policy. But I know that is a trade-off between availability, flexibility and cost. One reason I documented it so that people new to timesharing can use it in future. I was looking for this info when I started looking into TS.

IIRC, the inventory available in HGVC at 30 days can be used by the management company to rent out. Not sure if there is a similar clause in Marriott/Vistana that the developer can grab any unreserved inventory and monetize it for their own use.

In Worldmark, inventory available at 14 days is available to book at discounted cash rates and the revenue is used by the club to offset MFs.

 

[Ken555]

Yes, I believe Marriott/Vistana can rent out available units at 30 days and not pay the HOA anything.


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[JohnPaul]

Vacation Internationale 30 days
Shell Vacations Club 60 days to 15 days - lose 20 % of your points - 14 days lose everything
Worldmark can be as little as 2 days if the reservation was made on short notice (not sure of the # of days)
RCI Points - Basically 25% or points each month starting 4 months out to 75% of points at 29 days out

 

[JohnPaul]

One of the great things about the Worldmark policy is that there are significantly more last minute reservations available due to cancellations.

 

[geist1223]

In addition to favorable cancellation policy Worldmark has a very active wait list. Can have 4 pending Wait Lists.

 

[Eric B]

For ThirdHome it's no less than 14 days prior to check in, though that limit may be waived at their discretion.

For The Registry Collection, it depends on what the home resort is because they negotiate different terms and conditions.

For Vidanta, IIRC it is 30 days, but costs $50. (Not really an exchange per se, but credit of the usage fee.)

While I was reading a thread in the Vistana forum, it struck me that reservations made with Marriott/Vistana currencies have more restrictions even under regular times than other systems. These are the cancellation policies that I'm aware of.

• Worldmark: 30 day or 10 day depending on how far in advance reservation was made
• Hilton: 30 days and possibly 1 day with a workaround
• Wyndham: 14 days (?)
• MVC points: 60 days and then they become restricted
• Vistana SO: 60 days and then they become restrcited
• Hyatt: I don't fully understand but I think it's 60 days as well

Personally, I think 60 days is too restrictive.

Wyndham is 15 days, but you can buy points protection (for $49-$99 depending on the points used for a reservation) to allow cancellation up to the day of check in.

Vacation Internationale 30 days
Shell Vacations Club 60 days to 15 days - lose 20 % of your points - 14 days lose everything
Worldmark can be as little as 2 days if the reservation was made on short notice (not sure of the # of days)
RCI Points - Basically 25% or points each month starting 4 months out to 75% of points at 29 days out

The RCI loss of trading value applies for both points and weeks (TPUs). You can pay to have the lost value restored, though I don't remember the price.

 

[ski_sierra]

One of the great things about the Worldmark policy is that there are significantly more last minute reservations available due to cancellations.

In addition to favorable cancellation policy Worldmark has a very active waitlist. Can have 4 pending Wait Lists.

Worldmark is the most flexible reservation system that I'm aware of. It is very mature and it seems like they have figured out system-level solutions to adapt to how people actually travel rather than force a travel style paradigm on their members. I'm sure people will find imperfections but what is perfect?

Using last-minute inventory as bonus time generates revenue for the HOA (club) as opposed to being monetized by the developer without compensation to the HOA.

 

[MrockStar]

Bluegreen= anytime up to 10 days out.