Grande Vista 2024 fee proposed to increase over $1000! What is going on?

[DanCali]

id certainly expect higher than normal increases for florida resorts due to this, as well as the staggering increases in insurance within the state, especially for waterfront resorts.

IDK if this is a systematic thing, or a Marriott specific thing. We also own at Disney and the dues were just released this week. Increases are much lower compared with the MVC Orlando resorts which have been reporting 12% (Lakeshore Reserve) and 17% (Harbour Lake) increases in the MF thread. And Marriott Crystal Shores, which is coastal and hurricane prone, has a more modest increase vs. MVC Orlando resorts.

Here is the Disney data with 2023 vs. 2024. Some of the worst increases are in Disneyland/California and at the coastal resorts, not all of those being in FL (e.g., Vero Beach, Hilton Head, and Aulani/Oahu). Overall, no resort has seen more than a 8% increase, with most Orlando resorts generally in the 2%-5% range. Surely reserves, insurance, and wages affect Disney too, so it's more than just those things.

2024 Disney Vacation Club Annual Dues

The 2024 Disney Vacation Club Annual Dues amounts have been released. Learn what and when you'll need to pay your 2024 DVC Annual Dues!

dvcfan.com

 

[dioxide45]

It looks like the numbers are in. They didn't go with fully funded reserves, so no $1000 increase. But fees are up 17.2%. When the post the PDF I (or someone else) can post it here.

 

[rickandcindy23]

Good news on the Disney fees. Bad news on the OKW specific fees of almost $10 per point, which is why I feel I need to get $20 per point in rentals, but David's only gives me $16. That is not enough of a profit to make it worthwhile. I have been successful most of the time in getting $20 per point until this year. This has been a bummer of a year for my DVC rentals, and the # people who are renting exchanges on RW is causing some of my rental issues.

I had to go with David's at the end of my use year. Next year, I reserve only November-December.

 

[bnoble]

Cindy, some day you are going to get out of the rental business, and the sooner the better. You give yourself agita over all of this.

 

[dannybaker]

Well looks like a lot of people will be selling timeshares.

 

[dannybaker]

Good news on the Disney fees. Bad news on the OKW specific fees of almost $10 per point, which is why I feel I need to get $20 per point in rentals, but David's only gives me $16. That is not enough of a profit to make it worthwhile. I have been successful most of the time in getting $20 per point until this year. This has been a bummer of a year for my DVC rentals, and the # people who are renting exchanges on RW is causing some of my rental issues.

I had to go with David's at the end of my use year. Next year, I reserve only November-December.

So imagine you own a Marriott week in Orlando and interval rents your weeks out for $700 and your maintenance fees are $2870. Why would you continue to own?

 

[dannybaker]

I wouldn’t be surprised if we begin to see defaults spike substantially in the timeshare industry in 2024. These increases can not continue or they’ll increase themselves right out of business.

I think you nailed it. It’s been a great run and it might be time to get out. When we bought grande vista I believe the maintenance fees were $597 for a two bedroom lock off unit.

 

[dioxide45]

So imagine you own a Marriott week in Orlando and interval rents your weeks out for $700 and your maintenance fees are $2870. Why would you continue to own?

We would continue to own simply because we don't use our home resort weeks at my home resort and don't exchange back into Orlando. With Enrolled weeks, it works out now to about $950 per week + II upgrade fees when exchanging. While the fees at Grande Vista are much higher now, they are still probably the third lowest in the system (after Willow Ridge and Grande Chateau) for a lock off unit. It wouldn't make sense for us to sell and buy one of those instead as we would lose the enrolled week status that gives us $0 exchange fees when trading through II.

 

[jwalk03]

So imagine you own a Marriott week in Orlando and interval rents your weeks out for $700 and your maintenance fees are $2870. Why would you continue to own?

Even with this increase my costs calculate out to $202 per night when I lockoff and trade for 2 weeks vacation. $202/night for a 2BR villa with full kitchen at a top tier resort is a heck of a lot better than what a basic hotel room with no seperate bedrooms or kitchen costs in similar locations these days.

 

[TUGBrian]

whew, 17% increase and it still doesnt cover projected costs down the road.

 

[fskins]

I have been , but in the past I feel like there was a lot more availability and options for a studio. I used to get really good trades, then Marriott took over II and if you search the studio, its slim pickings

 

[TimberGrande]

Is the MGV still a good value and/or in demand for trades? Was offered the following package by Marriott.

MGV PLAT 2 bed L/O
2775 points
$13,700 ($4.94/pt)
+
2000 points
$30,960 ($15.48/pt)

Total $44,660 ($9.35/pt)

I don’t think we would use the legacy week often, so probably just exchange for points or try to trade through II.

 

[Hindsite]

Total $44,660 ($9.35/pt)

I don’t think we would use the legacy week often, so probably just exchange for points or try to trade through II.

If the week doesn't do anything for you, then your benchmark is resale MVC club points, which you should be able to pick up for $7.50-8/point including the enrollment fee (min $3k). They work just like the ones you buy from MVC, but cost a lot less.

 

[WBP]

My theory: The MVC resale market will begin to be flooded with near "give-away" prices, this month, except for the tried and true MVC resorts, that have maintained strong values (e.g. Grande Ocean (platinum season)). Further, MVC will be so flooded with "Right of First Refusal" inventory, that they will waive their Right of First Refusal, at resorts/seasons where/when they have reacquired the inventory in the past (as, I would expect that MVC/MVW's Board of Directors would not want to see MVC/MVW take on a lot of new debt).

I expect that there will be a peak in resale listings, until the end of First Quarter 2024, when MVC Maintenance Fees must be (1) paid, or (2) go to collections.

Even Grande Ocean, I believe, will see a spike in resale listings over the next few months, as the wave of "Original Owners" are "aging-out," and the adage that MVC Ownership was sold on, the "pass your MVC ownership along to your children" premise, washed out to sea, as, in our experience, the adult children that we know, including our own, want nothing to do with owning a timeshare (with a few exceptions: the adult children who want to relive their childhood memories). And, forget about, the once (long time ago) value in exchanging a MVC Week for Marriott Bonvoy points.

And, despite this insanity, MVC will continue to sell new ownerships to naive customers, predicated on "the dream."

 

[TimberGrande]

If the week doesn't do anything for you, then your benchmark is resale MVC club points, which you should be able to pick up for $7.50-8/point including the enrollment fee (min $3k). They work just like the ones you buy from MVC, but cost a lot less.

I was thinking the legacy week might be useful for II exchanges. Is that not worth it over points anymore if points are an option?

 

[jwalk03]

I was thinking the legacy week might be useful for II exchanges. Is that not worth it over points anymore if points are an option?

You could buy the same week resale for at least $10,000 less if you are just planning to exchange it. You will have to pay for the II membership and exchange fees since it wouldn't be enrolled, but it would take ~20 years of II fees to break even on that $10,000 up-charge!

 

[dioxide45]

I was thinking the legacy week might be useful for II exchanges. Is that not worth it over points anymore if points are an option?

If someone has been using one of the better resorts for exchanging through for points, then they haven't been extracting the best value from those weeks. Just because a week can be converted to points doesn't mean it should be converted to points. We often double or triple the value of our Grande Vista and Harbour Lake weeks when exchanging through II vs using points. By double and triple, I mean we exchange for weeks that would cost us two to three times more points than those weeks elect for. The $0 exchange fee makes using these weeks for exchanging through II a far better value.

 

[jmhpsu93]

If someone has been using one of the better resorts for exchanging through for points, then they haven't been extracting the best value from those weeks. Just because a week can be converted to points doesn't mean it should be converted to points. We often double or triple the value of our Grande Vista and Harbour Lake weeks when exchanging through II vs using points. By double and triple, I mean we exchange for weeks that would cost us two to three times more points than those weeks elect for. The $0 exchange fee makes using these weeks for exchanging through II a far better value.

^^^^ Couldn't have said this better.

 

[Dean]

Is the MGV still a good value and/or in demand for trades? Was offered the following package by Marriott.

MGV PLAT 2 bed L/O
2775 points
$13,700 ($4.94/pt)
+
2000 points
$30,960 ($15.48/pt)

Total $44,660 ($9.35/pt)

I don’t think we would use the legacy week often, so probably just exchange for points or try to trade through II.

IMO that's a poor deal for a number of reasons. You could buy the same week resale for 15% of that and have the same options. You would pay the exchange fees, lock off fee, unit upgrade fees, II membership fees totaling roughly $600 a year on average but that's small potatoes. 2000 points isn't many and you'd also have the club dues and unit size upgrade fees which would still be over $300 per year in this example. So a savings of around $300 roughly per year for someone who didn't own otherwise. IMO there are far better ways to get into the system than this even if points are one of the main goals.

 

[TimberGrande]

Thanks for the feedback. The fact that buying from Marriott still allowed exchanging the legacy week for points was the main benefit. My understanding is that anyone buying a legacy week now doesnt get the option of exchanging for points (had to be pre 2010). Please correct me if wrong.

Just buying points seems to cost around $3-4/pt + $3/pt Marriott fees, so an average of $9.35/pt was not a terrible markup to not deal with ROFR.

 

[TimberGrande]

Hit reply too early (and cant see to edit)...

Just buying points seems to cost around $3-4/pt + $3/pt Marriott fees, so an average of $9.35/pt was not a terrible markup to not deal with ROFR, while still retaining the option of trading a legacy week through the II system (or even using it on occasion).

 

[dioxide45]

Thanks for the feedback. The fact that buying from Marriott still allowed exchanging the legacy week for points was the main benefit. My understanding is that anyone buying a legacy week now doesnt get the option of exchanging for points (had to be pre 2010). Please correct me if wrong.

Just buying points seems to cost around $3-4/pt + $3/pt Marriott fees, so an average of $9.35/pt was not a terrible markup to not deal with ROFR.

That is correct, but there comes a cost with the ability to elect that week for points. Without the points you lose some flexibility but if you are able to travel in 7 night increments, you can get far greater value out of the week exchanging through II and a resale week is far cheaper.

 

[TimberGrande]

That is correct, but there comes a cost with the ability to elect that week for points. Without the points you lose some flexibility but if you are able to travel in 7 night increments, you can get far greater value out of the week exchanging through II and a resale week is far cheaper.

So basically, the flexibility isnt worth it. Legacy weeks are best used as trades in II.

 

[VacationForever]

The only reason that we bought our bundle, i.e. that includes points, was that it would get us up to the owner benefit level that we wanted at that time, which was Presidential level. If I have my druthers, we want to own all enrolled weeks because we use II to exchange to where we want to travel. We struggle to use points year after year. Then this year, we decided to get rid of an immediate points problem by using 18K points to book a Collette tour, at 25% skim. With the merger, we became accidental Chairman's Club level. I won't buy another single point.

 

[TimberGrande]

Then this year, we decided to get rid of an immediate points problem by using 18K points to book a Collette tour, at at 25% skim.

is 25% skim a good (discount) or bad (premium) thing?