FractionalTraveler
TUG Member
Fractional Traveler,
Thank you for the comments -- I definitely agree with the underlined point, but I must respectfully disagree with the remainder of your comments.
The two buckets have been a real problem since inception and there have been multiple reports from TUGgers who purchased Trust Points experiencing difficulty in booking reservations (in combination with Legacy Points). Reservations that should have been easy to get could not be booked. I spoke at length to the (former) Director of Customer Advocacy and wrote a lengthy post on TUG on the workings of the Trust and Legacy Bucket in June 2011. It was a mess.
I do believe that they have now implemented a change to more integrate the two buckets -- and they should announce whatever they are doing as their on-going, permanent policy (and should be proud of it and take credit for doing it).
Otherwise, those of us who remain cynical (and I wasn't cynical at all prior to June 20, 2010) will simply think Marriott may undo it in the future when there is a sufficient critical mass of Trust Points out there. That future change would harm the Legacy Point User who is accustomed to using the system in today's environment.
All the best,
Greg
Greg, Thanks for the feedback. Guess I was lucky to get my reservations without too much problems. I did purchase trust points the first week they were offered. In combination with my other legacy weeks, I was fortunate to land at the Premier Plus status with my portfolio.
One of the issues I did see very early on in 2010 was that customer service themselves didn't really understand the new rules and as a result lots of customers experienced fustration. I was one of those that consistently told them in the surveys that the rollout was terrible.
They initially told me that I was a "Hybrid" owner and that since I owned trust points, I could combine them with the rest of my portfolio and get what I wanted. I really didn't care what they called me or what level I was as long as I got my reservation, and that was what happened for me.
The only other real complaint I had was that I never knew how many points I had left in each bucket during the course of the year. When the website was recently updated with this functionality, I became a happy camper.
I have my doubts about future sales of points and concerns regarding MVW in general. IMHO, I don't think they will sustain what they are doing right now. The points system is very expensive for new customers and it seems to me that they are just proping up the numbers with these enrollment fees.
This upcharge of enrollment to $2395 is only to keep profitability at par over the next 12 months.
I don't see any further incentive for me to buy any more points if they don't come out with any new products. I can just rent what I want for a lot less.
But I think the honeymoon will be over by 2013. The stock price is way over valued and they will continue to sell excess land and push out phases of uncompleted properties to keep the numbers in line with expectations.
The Ritz-Carlton DC will continue to offset any modest earnings from MCVI. They are bleeding so bad over there that they can't give away the units.
Anyways, thats just my current take on things.