Well then, what did he say about TUG?
It was an interesting 90 minutes for us.
Right away I was like I am from TUG and think I know how the basics work and we have been to Ko Olina Beach Club a few times so we don't need to see anything.
At first he was like well you guys are the easiest since I don't need to explain anything and you know how it works. I guess I agree.
What I found interesting, it was a young guy, good sales person, that made this comment that I will always remember.
The people on TUG are unhappy they can't trade Branson, the cheapest week in the system, for a week at Marco (Island I assume).
So the points system, which he admitted wasn't rolled out well but is an excellent program, caused some heartburn with owners.
So Marriott wanted to "level the playing field" with the points system.
You buy an equity share so Marriott can take the building freeze off. He said the TS division was making lots of money but the hit was the Ritz Carlton stuff in Hawaii. I think I had read that.
The thing he told me about that I don't remember seeing here was the "getaways" I think they are. He logged into his account and showed some good deals for the week, better than a Friends and Family rate for example.
But using TUG and Redweek, we got a Ko Olina 2BR OV for $1895. I told him if me can make the numbers work I would buy right now, but I don't see how they could. He could not make the numbers work but only asked how long can you get a week at KO Olina for $1900.
I also said I thought I read something about how hard it is to sell points. He skillyfully didn't answer but I was under orders not to argue to much for the Mrs. so I didn't tell him that he didn't answer my question but just saying "it is easy".
So at the end he was like it doesn't make sense for you to buy at this time.
One thing I want to know but didn't ask is how many points is a Ko Olina week and what would be the maintenace fees on those. He said .40 cents a point.
So it was a nice meeting and I just don't see how the numbers add up.
I spend $1900 a year and go to Ko Olina and I keep MY capital to do with it what I want and STILL go each year. So sure I save a few hundred a year on the difference between my yearly fees and the cost to rent, but I like holding onto my capital assets in these uncertain times.
It was a fine meeting but just his comment about TUG and upset they can't trade and take them with a grain of salt. I find the community here excellent and just wish I could contribute more. I am basically reading stuff only.
With the dollar coming to the end of its life span, hold on to your capital is the name of the game. When we get a financial system reset, then we will see what opportunities are out there. I think gold and silver are better than a TS at this point.
Sorry if this was not a good summary. He did say over 50% of owners joined the DC (points system) but didn't have exact percentage.
Congrats on the baby news, good luck!
