Cannot Deposit My Reserved Week?

[Time Share Novice]

I have never traded my week before. I tried depositing my reserved week with II and was told by Starwood that I cannot deposit my reserved high season week and that they will instead deposit a lower valued week.

How can they do this? I have a right to that week. How can they prevent me from depositing the week I reserved with a third party?

 

[DeniseM]

That is correct - since 2009 you have not been able to reserve and deposit a specific week. Now, you trade with a pre-designated trading value that was agreed upon by Starwood and II.

But Starwood will not deposit a lower valued week - there is no deposit at all - you use the predetermined exchange value.

They can get away with it, because II has agreed to it and will no longer accept direct deposits from owners.

See the II FAQ at the top of the forum for more info.

 

[Time Share Novice]

Thanks. I see the FAQ and it explains how it works, which is certainly good to know, but it really does not explain what gives them the right to do that. It is my week. I should be able to do with it as I please.

I guess it is almost a retorical questions, as it seems clear to me that nothing gives them the right to do this, and I guess I did not expect to find the answer here, but I am frustrated.

 

[DeniseM]

Starwood owners were furious when this was announced in 2009, but since II and Starwood are affiliated, there wasn't much that owners could do. We did write letters of complaint to both Starwood and II, who basically don't care how owners feel about it, because it benenfits them. Using this system give Starwood complete control of the inventory deposited in II - behind closed doors.

The good news is that timeshares during high season still have good trading power, but not the great trading power that you used to be able to get by depositing a holiday week.

 

[jarta]

Time Share Novice, ... "it seems clear to me that nothing gives them the right to do this"

There have been complaints about the II/Starwood deposit policy and rumblings about filing a suit since the policy was implemented by II and Starwood in 2009. However, the rumblings have not morphed into a suit.

I think the reason there is no suit is that unless the deed conveys and guarantees use of a specific week (i.e. the week is a fixed week), there is no right to deposit any old week reserved in II. When you buy a float week, the only use guaranteed is the right to reserve an unspecified week in the float season. To the contrary, under the new II/Starwood system, fixed week reservations can still be deposited in II and will receive the II value of the week purchased.

It's not necessarily "getting away with it, because II has agreed to it." I think it is entirely legal and also makes the reservation system fairer because I feel SVO float owners should be given priority over cancelled premium week reservations. If the cancellation is made, I see no reason why the premium week should not be returned to the reservation pool if the float owner is compensated with an II credit of trading power equivalent to the average power of the float use period stated in the deed.

Until a court says otherwise, that's what gives Starwood and II the right to do this. For the policy to be overruled, there must be a suit. After 2 years, there is no suit. ... eom

 

[Sloane S]

I think the reason there is no suit is that unless the deed conveys and guarantees use of a specific week (i.e. the week is a fixed week), there is no right to deposit any old week reserved in II. When you buy a float week, the only use guaranteed is the right to reserve an unspecified week in the float season.

Interesting theory, but what about at SBP where you can reserve the specific deeded week (even though it's also a float).

 

[jarta]

"Interesting theory, but what about at SBP where you can reserve the specific deeded week (even though it's also a float)."

A fixed-float week, if reserved for the fixed week use mentioned in the deed, is a fixed week reservation that is guaranteed by that deed.

It's the use described in the deed and, thus, guaranteed by the deed that matters. And, it's more than just a theory. It's the reason Time Share Novice was asking for. Unfortunately, it's not a reason all TUG posters agree about. So, rather than accepting the answer or filing suit to challenge the II/Starwood procedure for making II deposits, TUG posters just keep asking the same question - WHY?

DeniseM is right in reassuring Time Share Novice that "timeshares during high season still have good trading power." They do. But, even II depositors of non-high season weeks have been posting on TUG about how well they are still doing with II trades and the Starwood preference. ... eom

 

[Time Share Novice]

Jarta, my deed does not convey a specific week, but it does appear at least on its face to convey the right to book any week. Therefore, if I am on the ball and call early and book a great week, I should then be able to trade that great week.

Basically I can book the greatest week ever at my home resort, and go there and use it, but if I trade that week I get credit for an average week. I now understand, still does not seem fair.

Denise - Starwood and II are "affiliated"? How?

 

[DeniseM]

Jarta, my deed does not convey a specific week, but it does appear at least on its face to convey the right to book any week. Therefore, if I am on the ball and call early and book a great week, I should then be able to trade that great week.

Basically I can book the greatest week ever at my home resort, and go there and use it, but if I trade that week I get credit for an average week. I now understand, still does not seem fair.

Denise - Starwood and II are "affiliated"? How?

II is Starwood's affiliated outside exchange company.

 

[Sloane S]

Basically I can book the greatest week ever at my home resort, and go there and use it, but if I trade that week I get credit for an average week. I now understand, still does not seem fair.

You can however deposit that specific booked week with one of the independent exchange companies such as SFX or DAE.

 

[DeniseM]

You can however deposit that specific booked week with one of the independent exchange companies such as SFX or DAE.

Yes - but you will not have the Starwood to Starwood trading priority, and SFX and DAE don't get a fraction of the Starwood deposits that II does.

 

[jarta]

"I now understand, still does not seem fair."

Fair or not, the use granted in your deed defines and limits your use. You were granted a 1/52 legal interest in a piece of real estate with appurtenant floating use rights as defined in the deed. You can't change the deeded use rights because the personal non-use you want to make of the property seems unfair to you.

If you wanted guaranteed unfettered use of any particular week, you should have bought a resale fixed week. But, then you would have been limited to making a fixed week reservation in that one week every year and be subject to all the other limitations and risks that come with fixed weeks (inability to travel at the same time every year, bad week, lower resale price due to a reduced market for the single week, etc.).

I assume those were considerations when you bought a resale float week. It was your choice and your decision to buy a float week. You'll have to learn to live with that decision. And, II trading and the preference Starwood negotiated for all Starwood owners will help you get very good II trades. ... eom

 

[DeniseM]

jarta - Do you own Starwood Stock? (That was not sarcasm, it's a straightforward question.)

I don't - unless it's part of a mutual fund.

 

[jerseygirl]

Florida changed its laws to accommodate the large developers in this regard (the power of lobbyists -- and why I would never give a dime to ARDA!).

 

[bogey21]

Back in the days when I owned a Sabal Palms (Marriott) floating week and wanted to rent it using the (old) Marriott Rental Program (now discontinued) Marriott advised me which Weeks had the most demand and urged me to select one of them. When Marriott changed their program and became less accommodating I (fortunately) sold my Week.

George

 

[Sloane S]

Yes - but you will not have the Starwood to Starwood trading priority, and SFX and DAE don't get a fraction of the Starwood deposits that II does.

Absolutely, which is important if the OP is looking to trade into another Starwood if not, I just wanted to make sure they were aware that they could deposit the exact reserved week with one of the independents, particularly if they were looking for something like Grand Luxxe or others that SFX seems to do well with.

Heck, even without using a specific week the Starwoods can still be great traders - I recently traded a 1 bedroom SDO deposit for a 2 bedroom Marriott Manor Club during prime June time in Williamsburg.

 

[jarta]

jarta - Do you own Starwood Stock? (That was not sarcasm, it's a straightforward question.)

I don't - unless it's part of a mutual fund.

No. I own no Starwood stock. ... eom

 

[Time Share Novice]

jersey girl, what law are you referring to?

 

[jerseygirl]

From the Florida Timeshare Statute:

In addition to any other rights granted by the rules and regulations of the timeshare plan, the managing entity of a timeshare plan is authorized to manage the reservation and use of accommodations using those processes, analyses, procedures, and methods that are in the best interests of the owners as a whole to efficiently manage the timeshare plan and encourage the maximum use and enjoyment of the accommodations and other benefits made available through the timeshare plan. The managing entity shall have the right to forecast anticipated reservation and use of the accommodations, including the right to take into account current and previous reservation and use of the accommodations, information about events that are scheduled to occur, seasonal use patterns, and other pertinent factors that affect the reservation or use of the accommodations. In furtherance of the provisions of this subsection, the managing entity is authorized to reserve accommodations, in the best interests of the owners as a whole, for the purposes of depositing such reserved use with an affiliated exchange program or renting such reserved accommodations in order to facilitate the use or future use of the accommodations or other benefits made available through the timeshare plan.


This magically appeared in the 2011 statutes (it was not in the 2010 or prior statutes).