Final Straw- Selling our Marriott/Vistana Timeshares

[bogey21]

What did they remove that was in the POS and/or contractual.

The answer to your question is nothing...

I started with Marriott long before many of you ever knew they existed. I started with them when they opened their 2nd restaurant, a Hot Shoppe in Philadelphia sometime in the late 40s or early 50s long before they got into the hotel or TS business. As they expanded I expanded with them. During my entire business career I stayed almost exclusively in Marriott hotels. When they entered the TS business I jumped on board and bought sight unseen and on trust the first TS they built, a pre-construction Sabal Palms Week. I later bought a Monarch Week resale because I wanted to own a Week at their entry into the TS business. You don't have to agree with me but IMO about the time they contemplated spinning off the TS Business the desire for profit took over at the expense of ethics and Customer Service...

When I bought my Sabal Palms Week they showed me how I could exchange one of my Weeks for Points which would get me a plane ticket, a car rental and a room at one of their hotels. Yes, all three for one Week. They touted their low commissions (20%) for renting and/or selling Weeks. They promised to (and for a number of years did) control the price of resales. They encouraged me to join RCI then dumped them for money and control. Were these things contractual? No, but most were in materials they gave me. I trusted the Bill Marriott who put Bibles and/or Books of Mormon in every hotel room. Back then Marriott was honorable. They lived up to what they said they would do and Customer Service bent over backwards to help...

You all may say that was then and the world is different today and you are right. But I didn't have to like it and when I had enough of their reneging and their uncaring Customer Service I decided to stop doing business with them...

George

 

[CalGalTraveler]

@Ken555 Could just be dumb luck in where they are in their growth cycle. HGVC must expand to compete with MVC and there are few acquisition options so they are either building or converting hotels. MVC is still absorbing ILG.

 

[Ken555]

@Ken555 Could just be dumb luck in where they are in their growth cycle. HGVC must expand to compete with MVC and there are few acquisition options so they are either building or converting hotels. MVC is still absorbing ILG.

Yup. Success is achieved by many factors, and dumb luck is certainly one of them.


Sent from my iPad using Tapatalk

 

[Dean]

The answer to your question is nothing...

I started with Marriott long before many of you ever knew they existed. I started with them when they opened their 2nd restaurant, a Hot Shoppe in Philadelphia sometime in the late 40s or early 50s long before they got into the hotel or TS business. As they expanded I expanded with them. During my entire business career I stayed almost exclusively in Marriott hotels. When they entered the TS business I jumped on board and bought sight unseen and on trust the first TS they built, a pre-construction Sabal Palms Week. I later bought a Monarch Week resale because I wanted to own a Week at their entry into the TS business. You don't have to agree with me but IMO some time about the time they contemplated spinning off the TS Business the desire for profit took over at the expense of ethics and Customer Service...

When I bought my Sabal Palms Week they showed me how I could exchange one of my Weeks for Points which would get me a plane ticket, a car rental and a room at one of their hotels. Yes, all three for one Week. They touted their low commissions (20%) for renting and/or selling Weeks. They promised to (and for a number of years did) control the price of resales. They encouraged me to join RCI then dumped them for money and control. Were these things contractual? No, but most were in materials they gave me. I trusted the Bill Marriott who put Bibles and/or Books of Mormon in every hotel room. Back then Marriott was honorable. They did what they said they would do and Customer Service bent over backwards to help...

You all may say that was then and the world is different today and you are right. But I didn't have to like it and when I had enough of their reneging and their uncaring Customer Service I decided to stop doing business with them...

George

I don't disagree with things have changed and they may have changed in a way that doesn't fit your needs or wants a this time. Thus if may be that exit was the best for you no matter the rest. But as you agree, they removed nothing that was not contractual thus they did nothing inappropriate. Now we all know that sales can be a black hole and isn't their shining moment, it isn't with any timeshare include DVC which has likely been the most ethical over the past 30 years. Things have changed in business and life over the last 40 years, since you first bought back in the early 80's. IMO the buyer beware is still applicable even though many don't want to take personal responsibility any more, one needs to understand what they're buying and the commitments they've made. I made the analogy of buying a condo and it is 100% you bought 3 condo's and hired Marriott to management them, nothing more when you boil it down. Even had MVC simply stood by their normal cancelation policies (as they probably should have), which would have been far more negative, I would feel the same. That said, I don't understand the venom in the situation you've laid out. IMO, if one understands what they've committed to, the risks, the rules and the current situation; it's difficult to be upset with MVC on these issues. Now there may be a situation where mistakes were made, like the canceled request first discussed recently, where mistakes may have been made and that's a different matter.

 

[SueDonJ]

The truth is the truth. I paid approximately $13,000 each for my Sabal Palms, Harbour Club and Heritage Weeks, all pre-construction. Almost immediately Marriott started tinkering big time with the benefits attached to my Weeks all to their benefit and all to my detriment. I finally got pissed and sold. Fortunately I sold before they destroyed all the value in my Weeks and I came out about whole. What would I own today if I hadn't sold? How much would I get if I had waited and sold today? What are the MFs today vs when I sold my Weeks? My point is that the prudent thing to do when a company (and I'm not only talking Marriott) starts down the path of devaluing what you bought for their benefit run as far away from them as fast as you can...

I acknowledge that Marriott has top of the line Resorts, maybe the best out there. My gripe is that over the years Marriott has made too many changes in their program, all to their benefit and to the detriment of their customers. In addition they have allowed their Customer Service, which once was excellent, to deteriorate dramatically...

George

There's no fault to be found in anything you've said here - and over the years of seeing you post about it I haven't criticized you for leaving your Marriott ownership behind when you no longer trusted them as you once did. It's when you level undeserved criticism that I question you, and it's when that undeserved criticism is repeated that I find myself banging my head on the desk!

What you've said here has absolutely nothing to do with the fact that MVW has responded to this very difficult COVID situation by trying to offer impacted owners MORE than what they're legally-required to offer, which even you eventually concede after first coming in criticizing them in all these threads about COVID cancelations. Considering that so many owners are justifiably angry/frustrated/sad when they realize their confirmed reservations have vanished into thin air, I question why/how you think it helps to repeatedly foster that negativity when you know that it can be somewhat appeased and when you already know that Marriott is going above and beyond trying to mitigate losses over which they have no control?!

 

[SueDonJ]

Please stop judging posters that you don’t agree with....being a bully doesn’t help

I'm honestly sorry that I leave you with that impression; it's not intended.

 

[Quadmaniac]

How in good faith can they say the resort is “open” when all of the below are closed, and knowing people from the mainland would be under a 14 day quarantine? While not thrilled with the II option, I feel it is something I could have lived with, had it not been limited to the booking window of being less than 60 days.

How in good faith can they close the resort when not everyone is coming from the mainland ? Would it be equally fair if they closed but people who may be there for 5-6 weeks can't use the resort, may have isolated, and now have to leave as not everyone has access ? Unfortunately it doesn't work out that way either.

I agree with everyone else that this is something that you had to make a decision at the 60 day mark. It's not Marriott's fault at all. All businesses want to stay open if they can as it means a lot of jobs and people's livelihood. They must be able to accommodate those that are able to come to the resort, like ones that are there for multiple weeks and / or live there. It would not be fair to them.

 

[CalGalTraveler]

I understand being upset at losing the week but what some don't realize is they took risks and have responsibilities. It's EXACTLY like if you owned a condo and couldn't go or the amenities were limited. MVC has done a lot, IMO, probably more than they should have. And the reality is that it's mostly on the backs of the other members in terms of reduced future availability likely for several years. That they were even able to get II to give the added flexibility is interesting unto itself and a pretty big help IMO even though I realize the weeks will be challenging to get good use out of.
What did they remove that was in the POS and/or contractual.

Yes and no. No because it is a "vacation club" with restrictions, reservation rules and limitations that a pure condo doesn't have. For example, if you sell your condo there is no ROFR for the original developer. Certainly doesn't appreciate like a full year condo either. And there is no subjective "60 day mark for reservations" as to whether you want to use a full ownership condo.

If it were a pure condo you could quarantine for the 2 weeks and have many weeks after to use. You do not have that usage right with a timeshare.

This is no different than airlines and hotels removing change fees even though they weren't contractually required to do so with Covid. Why? Because it was the right thing to do to maintain good customer relations. IMO MVC is trying to get out of this on the cheap and are not serving their owners well by such policies.

 

[Dean]

Yes and no. No because it is a "vacation club" with restrictions, reservation rules and limitations that a pure condo doesn't have. For example, if you sell your condo there is no ROFR for the original developer. There are other differences which could argue that it is a different animal.

If it were a pure condo you could quarantine for the 2 weeks and have many weeks after to use. You do not have that usage right with a timeshare.

That's not really true. Some properties do have ROFR and many have other rules like HOA rules AND fees. Now you could chose to avoid those but you could have done the same with the timeshares. Don't let the name vacation club fool you, it's not a club in the sense you pay a fee and you can chose to cancel like AAA, it's just another work for timeshare in this situation. Certainly there are some differences between the use of a single week or fractional and a fully owned condo. Maybe a condo you rent out most of the time and you had only planned to use a week would be a slightly more refined analogy. I get there are some differences between a timeshare and a condo but in the vein we're discussing it, there really aren't.

 

[CalGalTraveler]

@Dean, I see your points however will agree to disagree on the fairness of this. A timeshare vacation club is not the same as a full ownership condo. MVC has the means through II rules and points programs to make this right for their customers. Condos do not. MVC is choosing the cheap way out.

Why didn't MVC proactively notify their owners more than 60 days out of this possibility? Why is this only the fault of the owner?

IMO not a good strategy if they intend to market and upsell to their base in the future which is a core tenet of their public plans. This will be an expensive mistake; penny-wise $ foolish.

 

[Dean]

This is no different than airlines and hotels removing change fees even though they weren't contractually required to do so with Covid. Why? Because it was the right thing to do to maintain good customer relations. IMO MVC is trying to get out of this on the cheap and are not serving their owners well by such policies.

First let me say that my thoughts are directed as situations and principles not at people, nothing is intended as personal but it is an honest portrayal of how I feel.

IMO there are a LOT more differences in this comparison than between a Condo and timeshare. Even comparing one timeshare to another is interesting because they are all different. Don't think for a second the flexibility for airlines or other companies was mainly due to benevolence not should it have been. But so say they all did more than they had to but one did more or less than another and use that as a judgement tool of right or wrong is inappropriate, IMO.

@Dean, I also see your points however will agree to disagree on the fairness of this. A timeshare vacation club is not the same as a full ownership condo. MVC has the means through II rules and points programs to make this right for their customers. Condos do not.

MVC is choosing the cheap way out. Why didn't they proactively notify their owners more than 60 days out of this possibility? Why is this only the fault of the owner?

IMO not a good strategy if they intend to market and upsell to their base in the future which is a core tenet of their public plans. This will be an expensive mistake; penny-wise $ foolish.

One timeshare is not the same as another, even within MVC, there are major differences based on the resort, enrollment, trust points, etc. II has their own rules which MVC must adhere to. II gave them additional flexibility which was great but not perfect. IMO MVC did more than they should have and it will affect all the owners for years to come. Whether it hurts sales is something they have to judge but the "club" is not theirs, it's our and they manage it for us. I think back to the last 2 economic downturns where fees kept going up because there are costs of management, same for my condo HOA fees. We saw similar thread's then, my guess is there is some overlap in those posters as well. We'll certainly have to agree to disagree but IMO this speaks more about us than about MVC.

 

[SueDonJ]

... Why didn't MVC proactively notify their owners more than 60 days out of this possibility? Why is this only the fault of the owner? ...

I don't see it as either Marriott or the owners being at fault.

But Marriott hasn't kept owners in the dark. At each step as they had to deal just like we did with various local/state/federal restrictions, they used the owners' website and email to notify owners. Sure, sometimes what they put out what was confusing - no surprise there considering that practically every single agency that's involved has put out confusing info. The latest cancellation info on owners.marriottvacationclub.com has been consistent for weeks now, it's a bright red can't-miss notice as soon as you sign in with links (which may require sign-in from here) : COVID-19 Updates: Learn about our next level of clean and our current cancellation policies.

 

[clifffaith]

I'm honestly sorry that I leave you with that impression; it's not intended.

I had the "bully" impression too, and thought your moderator duties these last few months had pushed you over the edge!

 

[Steve Fatula]

@DeanMVC has the means through II rules and points programs to make this right for their customers.

I'd love to hear how then. You must know more than the other Marriott owners, who instead of having your view, are actually very very concerned about the ability to make future reservations given what they have already done! Please give detailed steps on exactly how they could have done this. And don't say allow everyone to push stuff out a year or two. There is no way that can possibly work in MVCI, there would be zero availability, plain and simple. You'd not only anger the subset of people affected (not everyone had reservations during this time), but you'd also anger those who didn't have anything during this time and now cannot use what they own.

Saying things like telling people more than 60 days out, telling them what? What their cancellation policies are that everyone should already know? What? They have kept us informed afaiak, all along the process, as good as they could. It changed all the time, yes, as more information became available, etc.

I am sorry people don't understand how it works. That's mostly on them. But I do feel bad for them. They certainly did not ask for the pandemic any more than Marriott did.

But I want to hear detailed steps and accommodations that MVCI could have made, please. Maybe you're right, don't know without hearing them. I've not heard basically any yet in any discussion, and I've read most all of them including the massive thread. I've seen impossible suggestions by the dozen, sure. But that's from those who don't understand how it works.

 

[Dean]

I'd love to hear how then. You must know more than the other Marriott owners, who instead of having your view, are actually very very concerned about the ability to make future reservations given what they have already done! Please give detailed steps on exactly how they could have done this. And don't say allow everyone to push stuff out a year or two. There is no way that can possibly work in MVCI, there would be zero availability, plain and simple. You'd not only anger the subset of people affected (not everyone had reservations during this time), but you'd also anger those who didn't have anything during this time and now cannot use what they own.

Saying things like telling people more than 60 days out, telling them what? What their cancellation policies are that everyone should already know? What? They have kept us informed afaiak, all along the process, as good as they could. It changed all the time, yes, as more information became available, etc.

I am sorry people don't understand how it works. That's mostly on them. But I do feel bad for them. They certainly did not ask for the pandemic any more than Marriott did.

But I want to hear detailed steps and accommodations that MVCI could have made, please. Maybe you're right, don't know without hearing them. I've not heard basically any yet in any discussion, and I've read most all of them including the massive thread. I've seen impossible suggestions by the dozen, sure. But that's from those who don't understand how it works.

Steve I think it's a lot more simple than that. All they had to do to make it right was follow their rules. Now I'm glad they were able to work out something that helped many of us affected to a degree and wasn't too dramatic an effect on the system long term. But the reality is the effect or how they did it was irrelevant as to their appropriateness as long as they fulfilled their contractual obligation. On the other side anything less than refunding their fees and giving them a free week with guaranteed availability likely wouldn't be enough for some. I don't buy the idea that companies are inherently bad and must be punished. I've seen too many inappropriate and dishonest timeshare owners to believe it's the good (members) vs the bad (MVC). Free full use weeks, reimbursement of fees and guaranteed availability simply aren't workable solutions singly or collectively and anyone would be unreasonable and unrealistic to think even one of them should happen.

 

[amy241]

I also feel your pain. We bought a week at Marriott Ko Olina Beach Club in 2019 with usage to start in 2020. We paid $10,500 on the ocean view unit and $2500 in MFs in January 2020. We had a 37 day trip planned to Hawaii departing April 24th and returning May 30th. We were holding first class airfare on Hawaiian Air from the east coast that cost a king’s ransom as well as Hawaiian Air inter island hops. We had to cancel as a result of the pandemic. We are all in for $13,000 at this point and didn’t get to use a single day there in 2020. Because I am new to time sharing and Interval International (and throw in confusing pandemic rules), I did not cancel until about 58 days prior to check in because I simply didn’t know any better. I got a lousy flex deposit week that has little usefulness IMHO and I am out the time and MFs.

 

[CalGalTraveler]

@Steve Fatula You are assuming a zero sum game when it comes to inventory. MVC is huge has the resources and options to make this work. Eg eliminating the 60 day horizon for II (remember II is much more than MVC) opening up MVC inventory for these owners, offering Bonvoy points or arranging for excess hotel inventory, renting inventory from other timeshares. DP owners or vacation home rentals, or acquiring new property or hotel floor conversion like HGVC among a few ways to add more inventory They need to get creative.

Not all MVC owners are like TUGers and know the nuances of every rule such as 60 days.Besides a lot changed in the 60 days prior to the reservation outside the control of the OP. Severely limited use with few options to get full value out of the MF which was paid in good faith for full use of the facility is a lazy answer.

Even though the quarantine is out of their control, this is no different than the airlines and hotels refunding non-refundable reservations due to Covid. Or do you think they should not have done that either? MVC need to get creative and take care of their owners or they will lose those owners future revevue. If the shoe was on the other foot you might view this otherwise.

 

[Dean]

@Steve Fatula You are assuming a zero sum game when it comes to inventory. MVC is huge has the resources and options to make this work. Eg eliminating the 60 day rule for II (remember II is much more than MVC) opening up MVC inventory for these owners, offering Bonvoy points or excess hotel inventory, renting inventory from II timeshares. DP owners or vacation home rentals, or acquiring new property or hotel floor conversion like HGVC among a few ways to add more inventory They need to get creative.

Not all MVC owners are like TUGers and know the nuances of every rule such as 60 days.Besides a lot changed in the 60 days prior to the reservation outside the control of the OP. Severely limited use with few options to get full value out of the MF which was paid in good faith for full use of the facility is a lazy answer. They need to get creative. If the shoe was on the other foot you might view this otherwise.

From an inventory standpoint it is a zero sum situation. Bonvoy is a separate company and additional points there is simply dollars from MVC or the members. While there may be an ownership interest for II, II is a separate company and must stand on their own thus there is only so much that can be done there. Ultimately what you're suggesting is that MVC donate to the cause from their pocket and/or from the membership as a whole's pocket. IMO the effect on a given owner, myself or otherwise, is not germane to the discussion, to be honest. To me this is an intellectual and philosophical discussion of appropriateness and appropriateness.

 

[bnoble]

do you think they should not have done that either?

I did not expect any airline to do more than their Contract of Carriage specified. That some did more was a pleasant surprise, but I would not have begrudged them a different decision.

On the other hand, airlines that tried to do less than the CoC specified (by, for example, attempting to redefine what a "substantial change" was post-facto) were absolutely in the wrong.

Likewise, I did not expect e.g. Wyndham to do anything more than the program rules specified, and I canceled my 2020 reservations and deposited those points forward before my late March deadline to do so. I'm not angry that they announced an extension for doing so later.

 

[CalGalTraveler]

From an inventory standpoint it is a zero sum situation. Bonvoy is a separate company and additional points there is simply dollars from MVC or the members. While there may be an ownership interest for II, II is a separate company and must stand on their own thus there is only so much that can be done there. Ultimately what you're suggesting is that MVC donate to the cause from their pocket and/or from the membership as a whole's pocket. IMO the effect on a given owner, myself or otherwise, is not germane to the discussion, to be honest. To me this is an intellectual and philosophical discussion of appropriateness and appropriateness.

It's a cost of doing business. In the scheme of things, Hawaiian owners affected by this is most likely a rounding error for MVC.

MVC owns II and can do whatever they want.

 

[Dean]

It's a cost of doing business.

MVC owns II and can do whatever they want.

I don't see it that way but I do see the risk of owning timeshares. They could donate the cash to cover all expenses but that would be an inappropriate and unreasonable expectation but no more so than asking they do more than the rules in place. In addition anything they did with II would be on the backs of the rest of the II membership. I'm reminded of when DVC took away the valet parking. That was the absolute correct decision at the time but there were those that felt they should continue to pay for it out of their pocket or the rest of the membership, entitlement thinking at it's finest.

 

[CalGalTraveler]

In fact they could have offered each affected owner a presentation package with a stay for free. Different inventory and might have gotten another bite at the apple. Lack of creativity...

 

[Quadmaniac]

@Steve Fatula You are assuming a zero sum game when it comes to inventory. MVC is huge has the resources and options to make this work. Eg eliminating the 60 day horizon for II (remember II is much more than MVC) opening up MVC inventory for these owners, offering Bonvoy points or arranging for excess hotel inventory, renting inventory from other timeshares. DP owners or vacation home rentals, or acquiring new property or hotel floor conversion like HGVC among a few ways to add more inventory They need to get creative.

Not all MVC owners are like TUGers and know the nuances of every rule such as 60 days.Besides a lot changed in the 60 days prior to the reservation outside the control of the OP. Severely limited use with few options to get full value out of the MF which was paid in good faith for full use of the facility is a lazy answer.

Even though the quarantine is out of their control, this is no different than the airlines and hotels refunding non-refundable reservations due to Covid. Or do you think they should not have done that either? MVC need to get creative and take care of their owners or they will lose those owners future revevue. If the shoe was on the other foot you might view this otherwise.

IMHO I don't see why this is a MVC or II problem where they need to do any of this. These are the terms of service and if they did not live up to the terms, then we have something to complain about. They have no control over the pandemic or any rules implemented in the pandemic in a region.

II has relaxed their cancellation rules already which I think is nice to for them to offer, but also remember that it is a loss to them when they get something short notice. They might not be able to get a trading fee for it as it is last minute and something limited people can use. They're in the business of making money by having people take trades for a fee, when the likelihood is lower, it has lower value to them.

I'm sorry but everyone is responsible for themselves in reading and understanding the rules of MVC and II if they are going to part of it so each party knows their responsibilities and the rules. That's why they're there in the first place so it is out in the open. Yes many things can change 60 days out, but that is the risk the timeshare owner has to decide, the onus is not on the company.

This is the thing as well, they won't lose future revenue because the unit was already sold and the payment of MF is in ongoing year after year. Even if the OP sells it, someone has to buy it and assume the year MF so they will not suffer any loss.

 

[csalter2]

@Steve Fatula You are assuming a zero sum game when it comes to inventory. MVC is huge has the resources and options to make this work. Eg eliminating the 60 day horizon for II (remember II is much more than MVC) opening up MVC inventory for these owners, offering Bonvoy points or arranging for excess hotel inventory, renting inventory from other timeshares. DP owners or vacation home rentals, or acquiring new property or hotel floor conversion like HGVC among a few ways to add more inventory They need to get creative.

Not all MVC owners are like TUGers and know the nuances of every rule such as 60 days.Besides a lot changed in the 60 days prior to the reservation outside the control of the OP. Severely limited use with few options to get full value out of the MF which was paid in good faith for full use of the facility is a lazy answer.

Even though the quarantine is out of their control, this is no different than the airlines and hotels refunding non-refundable reservations due to Covid. Or do you think they should not have done that either? MVC need to get creative and take care of their owners or they will lose those owners future revevue. If the shoe was on the other foot you might view this otherwise.

‘The shoe was on the foot for all of us who did have reservations or not. If people don’t know it’s partly their fault. I say partly because some neglect to learn the rules or could have canceled before the 60 day limit. Others did not have a choice because states shut down abruptly during some people’s weeks within the 60 day limit. Those things were beyond control. However, if a hurricane suddenly came through and there were damages so severe or you couldn’t get to your vacation resort, you’d be in the same situation, out of vacation and out of your money and/or airfare. I had weeks in June that I cancelled and was miraculously able to rebook them for July. I was watched the news anxiously trying to determine if I should go or not. I cancelled each time at the 60 day mark. I had points it was no sweat. I have already booked for next June/July at 13 months out. I didn’t lose anything because I am familiar with the rules, not because I’m a TUG member, but because I read the rules and searched for information. If I was at 60 days which I did consider gambling and going that route, I would have taken the other route with limitations. The fact that they offered something as opposed to nothing is what is important.

Everyone is different, you’re happy with what HGVC has offered as an alternative, however believe me, there are some people in HGVC who are not happy. I guarantee that.

 

[Wei339]

I also feel your pain. We bought a week at Marriott Ko Olina Beach Club in 2019 with usage to start in 2020. We paid $10,500 on the ocean view unit and $2500 in MFs in January 2020. We had a 37 day trip planned to Hawaii departing April 24th and returning May 30th. We were holding first class airfare on Hawaiian Air from the east coast that cost a king’s ransom as well as Hawaiian Air inter island hops. We had to cancel as a result of the pandemic. We are all in for $13,000 at this point and didn’t get to use a single day there in 2020. Because I am new to time sharing and Interval International (and throw in confusing pandemic rules), I did not cancel until about 58 days prior to check in because I simply didn’t know any better. I got a lousy flex deposit week that has little usefulness IMHO and I am out the time and MFs.

I am sorry that you were not aware of the 60 day cancellation which would have allowed you to book a later reservation. I cancelled my June 6 reservation prior to 60 days and rebooked for December. This new date is no guarantee if the covid-19 situation does not improve since there is talk of a second wave in October. You are fortunate that the FTA ensures the airlines give you a full refund in the case of a cancellation. In Canada, we were only given vouchers. Since you are new to MVC, I would follow this forum and ask questions when in doubt. The people are very knowledgeable and helpful.
If this is any consolation, I purchased my ocean view week for $45,000 US in 2004. So you are far ahead of the game and will certainly get your money's worth in future years. I can assure you that your $12,500 purchase will certainly bring immense enjoyment to you in the future. IMHO, Ko Olina is a great MVC timeshare.