Comparison of Abound Exchange procedure documents 30 June 2022 vs 01 May 2026 - changes identified (no discussion please)

[Hindsite]

I've started my line by line document review of the Abound exchange procedures so wanted a place for me, and others, to capture the differences identified as they are identified.

Please can we keep this thread to the document changes and not any interpretation or consequences of it

 

[Hindsite]

01 May 2026 document: Page 7, section 3 C, para 3. last 4 lines.
The ability to use Plus Points to make reservations for Family members where not accompanied by the Programme Member has been removed. This includes when Plus Points are used as part of a reservation that is made with Exchange points. Exchange points are either Elected or Trust Club points.

 

[Hindsite]

01 May 2026 document: Page 8, section 3 F, new para added at the end to allow for auto-banking.

 

[Hindsite]

01 May 2026 document: Page 14, section VII. A, first para
References to Reserve and Pinnacle levels added through text
New sentence added: "The current minimum number of Exchange Points required to achieve Select Member, Executive Member, Presidential Member, Chairman’s Club Member, Reserve Member and Pinnacle Member status is set forth on Schedule “4”."

 

[Hindsite]

01 May 2026 document: Page 15, section VII. A, new paragraph added to the end of the section.

"Certain reservation windows, benefits and privileges afforded to Members based on Membership Recognition levels may be restricted or unavailable based on the Component or Affiliate Program Interest owned by the Member or the Component or Affiliate Program desired to be accessed by Members. For example, certain Components or Affiliate Programs may have reservation windows which are less than thirteen (13) months. Certain Club Point conversion programs (for example, resort credits or maintenance fee credits) may only be available to Members who own an Interest at certain Components or Affiliate Programs."

 

[WBP]

It sems to me that you hijacked this thread:

Detailed comparison of June 30, 2022 v May 1, 2026 MVC EXCHANGE COMPANY DISCLOSURE GUIDE FOR ABOUND BY MARRIOTT VACATIONS™ EXCHANGE PROGRAM​

Detailed comparison of June 30, 2022 v May 1, 2026 MVC EXCHANGE COMPANY DISCLOSURE GUIDE FOR ABOUND BY MARRIOTT VACATIONS™ EXCHANGE PROGRAM

Very substantial changes. The comparison, attached, is very helpful. Each reader of these materials should analyze these documents, as they deem appropriate, and draw their own conclusions. This is not a report of Independent Audiors, and the poster assumes no responsibility for the accuracy of...

tugbbs.com

I’ll take that as a sign of far more than I want to get into, here.

Waiting for the Moderators to address this.

 

[Hindsite]

It sems to me that you hijacked this thread:

Detailed comparison of June 30, 2022 v May 1, 2026 MVC EXCHANGE COMPANY DISCLOSURE GUIDE FOR ABOUND BY MARRIOTT VACATIONS™ EXCHANGE PROGRAM​

Detailed comparison of June 30, 2022 v May 1, 2026 MVC EXCHANGE COMPANY DISCLOSURE GUIDE FOR ABOUND BY MARRIOTT VACATIONS™ EXCHANGE PROGRAM

Very substantial changes. The comparison, attached, is very helpful. Each reader of these materials should analyze these documents, as they deem appropriate, and draw their own conclusions. This is not a report of Independent Audiors, and the poster assumes no responsibility for the accuracy of...

tugbbs.com

I’ll take that as a sign of far more than I want to get into, here.

Waiting for the Moderators to address this.

Not at all, I started my own thread capturing what I'm finding as I go through a line by line review, so people can see the specifics by page of the changes and consider the impact on themselves. Not sure what your inference here is. Feel free to report this rather than wait for moderators and let them know the specifics of your concern.

 

[Hindsite]

01 May 2026 document: Page 21, Definition of Chairmans Club member,

3rd to last sentence addition of "or waive" to sentence: "Exchange Company shall have the reserved right to add, create, revise, or waive qualification criteria from time to time such as, for example, qualifying status based on the manner in which and from whom Exchange Points were acquired."

New sentence added to end: "The current Exchange Points requirements for a Program Member to achieve a Chairman’s Club level of membership are set forth on Schedule “4” to these Exchange Procedures."

Same addition of "or waive" and the additional sentence at the end, can be found in the definitions of Executive Member (P23), Presidential Member (P25), Select member (P26)

 

[Hindsite]

01 May 2026 document: Page 22, Definition of Deposit window

Additional criteria added to 2nd sentence: "and (iii) with respect to Reserve Members and Pinnacle Members, on November 30th of the year prior to the year that contains the first evening of the Use Period being Deposited."

Additional criteria added to Lion and Crown deposit window sentence: "and (iii) with respect to Reserve Members and Pinnacle Members, November 30th of the subsequent Use Year,"

 

[Hindsite]

01 May 2026 document: Page 24, Definition of Membership

Addition of this sentence to the definition: "Each Membership account is assessed annual Exchange Company Dues (also referred to as Club Dues) either directly or through an Affiliate Program."

 

[Eric B]

01 May 2026 document: Page 7, section 3 C, para 3. last 4 lines.
The ability to use Plus Points to make reservations for Family members where not accompanied by the Programme Member has been removed. This includes when Plus Points are used as part of a reservation that is made with Exchange points. Exchange points are either Elected or Trust Club points.

Is the spelling of “Programme” in your notes here your own, possibly due to quirks relating to local spelling and such, or are there different versions of the Exchange procedures with different spellings? I did find the paragraph referenced here, but the usage throughout seems to be “Program”.

By the way, thanks for putting in the time to actually do a detailed look at the changes. Just wanted to be sure it’s the same document I have.

 

[TUGBrian]

Waiting for the Moderators to address this.

this usually means noone knows exactly what you are asking for in your report(s).

 

[Hindsite]

Is the spelling of “Programme” in your notes here your own, possibly due to quirks relating to local spelling and such, or are there different versions of the Exchange procedures with different spellings? I did find the paragraph referenced here, but the usage throughout seems to be “Program”.

By the way, thanks for putting in the time to actually do a detailed look at the changes. Just wanted to be sure it’s the same document I have.

Ah sorry, translation error , I speak/write the Kings English, the exchange procedures are written in American English, which I'm not fully fluent in, so if you see the word Programme without " " that's me and not the document. There will be other things that may slip through, plus I'm not the best at editorial work..."Two nations divided by a common language". Please continue to chip in where you see these, as that is what is needed to get this right.

 

[dioxide45]

It sems to me that you hijacked this thread:

Detailed comparison of June 30, 2022 v May 1, 2026 MVC EXCHANGE COMPANY DISCLOSURE GUIDE FOR ABOUND BY MARRIOTT VACATIONS™ EXCHANGE PROGRAM​

Detailed comparison of June 30, 2022 v May 1, 2026 MVC EXCHANGE COMPANY DISCLOSURE GUIDE FOR ABOUND BY MARRIOTT VACATIONS™ EXCHANGE PROGRAM

Very substantial changes. The comparison, attached, is very helpful. Each reader of these materials should analyze these documents, as they deem appropriate, and draw their own conclusions. This is not a report of Independent Audiors, and the poster assumes no responsibility for the accuracy of...

tugbbs.com

I’ll take that as a sign of far more than I want to get into, here.

Waiting for the Moderators to address this.

Wasn't it determined though, that in your prior thread you were in fact comparing two different documents? One of the exchange procedures and another that was a full disclosure document that also happened to contain the exchange procedures?

 

[WBP]

Detailed comparison of June 30, 2022 v May 1, 2026 MVC EXCHANGE COMPANY DISCLOSURE GUIDE FOR ABOUND BY MARRIOTT VACATIONS™ EXCHANGE PROGRAM​

• Thread starterWBP
• Start dateMay 17, 2026

Very substantial changes. The comparison, attached, is very helpful.

Each reader of these materials should analyze these documents, as they deem appropriate, and draw their own conclusions. This is not a report of Independent Audiors, and the poster assumes no responsibility for the accuracy of these documents, or the conclusions that readers draw. My best advice is for readers to consult the source, Marriott Vacations Worldwide, for additional, related information.

 

[WBP]

May 17, 2026

I believe your observation may be valid (in the context of 86 pages of documents), however, the Content Experts (Industry Content Experts) that I talked to, believe that these documents are the prevailing documents of the generations in which they were published, govening the “Abound by Marriott Exchange Program.” I would not consider their findings prescriptive, or the result of Independent Auditors. I don’t doubt that what appeared in 2022 in one place, or in 2026 in another place, may be in a variety of places that the purchaser of Developer inventory receives on a CD (or some other means) when they purchase, which is further modified by the state of their purchase and the state of their residence (Public Offering Statement).

**********I invite anyone who wants to, to review 96 pages of documents, and to note their observations, speculation, conclusions, in this thread**********. Depending upon the quantity, and the willingness of the Industry Content Experts to review the volume of comments, I will be happy to take the comments, herein, to the Industry Content Experts. In my opinion, in the context of transparency, I would encourage MVW to prepare an Errata Sheet, that makes explicit note of the changes, additions, and deletions, between the two documents. Sadly, I’d speculate that 99% of the MVW purchasers do not look at these documents, nor, I speculate, that they understand the relationship that they are entering into and/or have with MVW.

The basis for the comparison is, largely, AI driven, and I suspect that a variety of AI platforms will have different findings/conclusions. No doubt that the data in, equals the data out, and if there are additional data, they should be added/factored into the analysis.

For me, I have plenty of information, to draw conclusions about the big picture, and MVW’s agenda (I see the forest through the trees). Also, I’ve not seen the variety of people, - - professed to be experts, in the vacation ownership industry, MVW ownership/membership, or armchair experts - - chime in, since they declared the new Disclosure Guide, simply an amendment that addressed the two new categories of membership (which was not an accurate statement).

I am confident that if someone wanted to pony up the money, a group of interested parties could hire a team of experts, to serve in a consultancy capacity, and to review the two documents, to provide an objective analysis of the two documents, and to describe the impact of the 2026 Exchange Company Disclosure on MVW owners/members.

 

[WBP]

Wasn't it determined though, that in your prior thread you were in fact comparing two different documents? One of the exchange procedures and another that was a full disclosure document that also happened to contain the exchange procedures?

That’s what happens, in my opinion, when people who pretend to be industry experts, demonstrate that they are not. There are nearly 100 pages of documents, that’s a lot of data, and a lot of details.

Remember, when the new exchange documents came out, several people stated that the changes were limited to the addition of two new ownership/membership levels. I did a cursory review of the document, in part, because I did not buy that conclusion, and I quickly concluded that that was not the case. Instead, in fairly short order (< 24 hours), I got a few industry experts to take a look at the document, and between our quick, cursory review, and an AI Analysis, we produced the document that was posted. Was it likely that the comparison document had shortcomings, ABSOLUTELY; that, to me, comes with the territory, and a 24 hour turn-around. HOWEVER, what is clear is that the document was not limited to the addition of two new ownership/membership categories, the changes are far-reaching, and that the devil is in the details. The impact of the May 2026 changes, in my opinion, will touch each user, differently, depending upon how they use their ownership. At the end, though, the comparison, in my opinion, is a very effective, generalized assessment of the scope of changes, and, if my memory is right, when I published it, and to this point, forward, no one else has produced a document of similar scope, NOR (most worrisome), has Marriott Vacations Worldwide.

In terms of the phraseology and nomenclature associated with the documents, I addressed this, previously; I suspect any confusion that exists, exists because non-real estate professionals, are attempting to understand the natural progression of such documents, over time.

 

[Hindsite]

01 May 2026 document: Pages 24 and 25, Definition of Pinnacle member

New paragraph added: "Pinnacle Member means a Program Member who has achieved a “Pinnacle” level of membership by meeting the qualifications for such level of membership as established by the Exchange Company from time to time. “Pinnacle Member” shall also include such Program Members who held at least 40,000 Exchange Points as of May 30, 2027; provided, however, that such Program Member shall only be entitled to retain the classification as a Pinnacle Member for so long as such Program Member holds not less than 40,000 Exchange Points; if such Program Member ever holds less than 40,000 Exchange Points, such Program Member’s level of membership shall thereafter be determined by the then-current qualifications for levels of membership established by Exchange Company. “Pinnacle Member” shall also include such VSN Members who meet the qualifications for “Pinnacle Member” as set forth in the applicable Vistana Signature Network Rules and Regulations. For the purpose of determining Pinnacle Member status, Program Members shall be deemed to hold all Exchange Points related to Interests that are titled in their name, either independently or as a named titleholder among a group of titleholders, which are enrolled with Exchange Company if required to do so. In the event a Program Member transfers any of the Program Member’s Interests, only the Interests retained by the Program Member after the transfer shall be considered in determining the number of Exchange Points deemed held by the Program Member. Exchange Company reserves the right to add, create, revise or waive qualification criteria from time to time such as, for example, qualifying status based on the manner in which and from whom Exchange Points were acquired. Exchange Company shall have the right to determine who constitutes a Pinnacle Member based on criteria and conditions it determines from time to time, in its sole discretion, all of which shall remain subject to modification by Exchange Company from time to time in its sole discretion. The current Exchange Points requirements and other qualifications for a Program Member to achieve a Pinnacle level of membership are set forth on Schedule “4” to these Exchange Procedures."


01 May 2026 document: Page 26, Definition of Reserve member

New paragraph added: "Reserve Member means a Program Member who has achieved a “Reserve” level of membership by meeting the qualifications for such level of membership as established by the Exchange Company from time to time. “Reserve Member” shall also include such Program Members who held at least 25,000 Exchange Points as of May 30, 2027; provided, however, that such Program Member shall only be entitled to retain the classification as a Reserve Member for so long as such Program Member holds not less than 25,000 Exchange Points; if such Program Member ever holds less than 25,000 Exchange Points, such Program Member’s level of membership shall thereafter be determined by the then-current qualifications for levels of membership established by Exchange Company. “Reserve Member” shall also include such VSN Members who meet the qualifications for “Reserve Member” as set forth in the applicable Vistana Signature Network Rules and Regulations. For the purpose of determining Reserve Member status, Program Members shall be deemed to hold all Exchange Points related to Interests that are titled in their name, either independently or as a named titleholder among a group of titleholders, which are enrolled with Exchange Company if required to do so. In the event a Program Member transfers any of the Program Member’s Interests, only the Interests retained by the Program Member after the transfer shall be considered in determining the number of Exchange Points deemed held by the Program Member. Exchange Company shall have the reserved right to add, create, revise or waive qualification criteria from time to time such as, for example, qualifying status based on the manner in which and from whom Exchange Points were acquired. Exchange Company shall have the right to determine who constitutes a Reserve Member based on criteria and conditions it determines from time to time, in its sole discretion, all of which shall remain subject to modification by Exchange Company from time to time in its sole discretion. The current Exchange Points requirements and other qualifications for a Program Member to achieve a Reserve level of membership are set forth on Schedule “4” to these Exchange Procedures."

 

[Hindsite]

01 May 2026 document: Page 25, Definition of Plus points

First sentence: Removal of "or Family Member" from the list of those for whom plus points can be used to make reservations. Per post 2 of this thread.

 

[Hindsite]

01 May 2026 document: Page 25, Definition of Priority 1 reservation

Addition of references to Reserve Member and Pinnacle Member in the list at the end of the sentence.

 

[Hindsite]

01 May 2026 document: Page 28, Schedule "2" - Summary of reservation Windows.

Amendment to the minimum number of nights that Select and Member (aka Owner) levels can reserve at 13 and 12 months ahead,
Addition to the table of the Pinnacle and Reserve member types
See below for revised table section.

 

[WBP]

this usually means noone knows exactly what you are asking for in your report(s).

So, let me get this right.

You receive reports, allegedly don’t understand the report, and don’t ask a question, in follow-up, but, ignore the report?

OK, I get it. I’ll take that on face value.

 

[TUGBrian]

that is certainly one way to interpret the situation...

 

[Eric B]

My deepest sympathies go out to @TUGBrian and the moderators that can't really use the ignore function to improve the readability of some of these threads. Thank you for your service!

 

[dioxide45]

So, let me get this right.

You receive reports, allegedly don’t understand the report, and don’t ask a question, in follow-up, but, ignore the report?

OK, I get it. I’ll take that on face value.

I'm not really sure what your concern is with this thread. Are you upset because someone else is doing the grunt work to go through the documents manually while your AI turned out a lot of stuff that was really more than anyone could digest because it compared two fundamentally different documents? You could parse down the disclosure document to just contain the Exchange procedures and then compare that to the 2022 version. In the linked document in post #306 of this thread, the actual Exchange Procedures start on page 22 of the PDF. BTW, there was also an October 2023 version of the exchange procedures. Not sure how it may differ.