How happy are you with your Marriott ownership?

[Bear1980]

I bought a Ko Olina EOY even, with usage beginning in 2006. Since then, I've used the lockoff option three times, for a total of six weeks. The lockoffs have traded extremely well (2BR at David Walley's, 1BR at Willowbrook Lake Harmony PA and 2BR at Westgate Park City). We've used the 1BR's at Ko Olina. Our experience has been exceptionally good.
HOWEVER, I can say that the timeshare has made no sense whatsoever from a financial point of view. Our EOY cost $17,000 in 2004, and has lost at least 50% of its value. I know this because I just bought another EOY for $8500. As a forced reality check, I've computed the real cost of these six weeks:
$17,000 at an opportunity cost of 5% x 6 = $5100
50% lost of investment = $8500
Maintenance fees, approximate total over six years = $4200
Fees: approximately $600
Grand total: $18400, or $438/night (for 4 1BR stays and and 2 2BR stays). Most of these stays were not in high season, either. Obviously, we would have been way ahead to simply pay the going rate wherever we wanted to go.
I feel better going forward, now that our resale is lowering the average nightly cost. But it still isn't exactly cheap. I'm pretty sure I'd do way better to shop the TUG/timeshare rentals. Still, we do love Ko Olina, and as long as we get a good shot at the inventory as it become available, we'll stay on board.

P.S. Why the opportunity cost? If you hadn't given the money to Marriott, it could have been earning that 5% from a bond or a utility. Opportunity cost is a real cost.

What really is an "investment" in the context of vacations? Money, or time? I have no idea. If you are actually going to use the accommodations at Ko Olina, then I'd say over the long haul, you'll come out ahead compared to paying retail. Renting is cheap right now because of the slow economy and rotten real estate market. If the economy and real estate markets grow, rental costs may go up. Same thing can be said of the values of these deeds. I know mine is taking a beating. For example, my one EOY was bought for 17k in Maui, and looking on Redweek at resales, I want to vomit. Not that I purchased this deed for financial gain, it does make me sick thinking about what I could have bought it for if I had waited. But seriously, who knew? It's all hindsight. Same for my ocean front. That thing went for 36k via developer pricing. Of course, I would expect that I'd come out ahead after 5-6 trips. Just my opinion. Maybe I'm wrong. But I plan on using those trips.

Maybe I'm drinking the kool-aid here when I say that for me, it's worth its weight in gold knowing I have trips for a life-time and I can pass the deeds to the kids.

 

[OldPantry]

What really is an "investment" in the context of vacations? Money, or time? I have no idea. If you are actually going to use the accommodations at Ko Olina, then I'd say over the long haul, you'll come out ahead compared to paying retail. Renting is cheap right now because of the slow economy and rotten real estate market. If the economy and real estate markets grow, rental costs may go up. Same thing can be said of the values of these deeds. I know mine is taking a beating. For example, my one EOY was bought for 17k in Maui, and looking on Redweek at resales, I want to vomit. Not that I purchased this deed for financial gain, it does make me sick thinking about what I could have bought it for if I had waited. But seriously, who knew? It's all hindsight. Same for my ocean front. That thing went for 36k via developer pricing. Of course, I would expect that I'd come out ahead after 5-6 trips. Just my opinion. Maybe I'm wrong. But I plan on using those trips.

Maybe I'm drinking the kool-aid here when I say that for me, it's worth its weight in gold knowing I have trips for a life-time and I can pass the deeds to the kids.

Absolutely right. It's all hindsight. Useful ONLY in helping one make better decisions going forward. But there is a future to plan too. So, lessons learned: 1. Never buy developer stuff. That used to mean weeks, now it means points. 2. Timeshares are more like cars than houses. They lose value steadily. It's been a mistake to think of them as investments, even though the salepeople encourage you to do so. 3. If you do think of them as investments, then be realistic about true costs: time value of money, erosion of principal, inflation of maintenance fees. 4. It's fine to be philosophical about past choices; it beats slitting your wrists.

 

[Former Cruiser]

We bought retail before finding TUG. The reason we bought was to trade and go to different places as we're not ready to vacation in the same place every year. That has worked out nicely for us. We've gotten excellent trades - just got back from Waiohia in Kauai. While there, we looked it up on the Marriott site and they're asking over $500 a day to stay there. Because of the decision to purchase has allowed us to stay at TOP NOTCH properties, WE LOVE OUR MARRIOTT.

 

[Bear1980]

We bought retail before finding TUG. The reason we bought was to trade and go to different places as we're not ready to vacation in the same place every year. That has worked out nicely for us. We've gotten excellent trades - just got back from Waiohia in Kauai. While there, we looked it up on the Marriott site and they're asking over $500 a day to stay there. Because of the decision to purchase has allowed us to stay at TOP NOTCH properties, WE LOVE OUR MARRIOTT.

Yeah that's really the spin I'm putting on it. How much does it cost to pay retail? I have an option to stay at Maui Ocean Club as it is my home resort. We love going to Maui, and will continue to do so as long as my heart is ticking. I'm 30 and my wife is 28, and we have been there now 3 times in our 4 years of marriage. 2 of those times as owners, and now we have a little one (11 months) who is coming with us on Saturday when we leave for Maui this time. Both of my deeds are paid for, and we should have many decades of happy vacationing. I still believe over the long run, what I paid for the deeds and what MFs cost per year will be less than if I paid retail for all of these trips.

 

[dioxide45]

Yeah that's really the spin I'm putting on it. How much does it cost to pay retail? I have an option to stay at Maui Ocean Club as it is my home resort. We love going to Maui, and will continue to do so as long as my heart is ticking. I'm 30 and my wife is 28, and we have been there now 3 times in our 4 years of marriage. 2 of those times as owners, and now we have a little one (11 months) who is coming with us on Saturday when we leave for Maui this time. Both of my deeds are paid for, and we should have many decades of happy vacationing. I still believe over the long run, what I paid for the deeds and what MFs cost per year will be less than if I paid retail for all of these trips.

You are probably right, and you got a head start on a lot of people. You bought while you were very young (as compared to the average TS purchaser). Being able to spread your purchase over at least the next 40 years will reduce your per night costs significantly.

 

[Juergens]

Had long enough

I am in the position of choosing where and when I want to vacation. Kids all grown but none want to take over my ownership.
Had long enough and would like to sell.

***Details removed. Advertising is not permitted in this forum. Please list your week for sale in the classified section of TUG.***

Thanks,

Steve
TUG Moderator

 

[bogey21]

Not pleased with Marriott at Ocean Pointe in West Palm Beach. First there was a re-sale program and a rental program and now there is neither.

Exactly why I sold my Sabal Palms, Harbour Club, Heritage Club and Monarch Weeks a number of years ago. It became painfully obvious to me that Marriott was committed to doing what was best for Marriott, not their Owners. I sold these 4 Weeks for about $85,000. What are they worth today?

George

 

[drbilld]

I am happy with what I purchased and very much enjoy it. I am not happy with Marriott. All companies are in business to make money first, but many companies do that by showing more concern for their customers and earning their business. I feel like Marriott is constantly trying to scam money out of me any way they can.

 

[pwrshift]

Exactly why I sold my Sabal Palms, Harbour Club, Heritage Club and Monarch Weeks a number of years ago. It became painfully obvious to me that Marriott was committed to doing what was best for Marriott, not their Owners. I sold these 4 Weeks for about $85,000. What are they worth today?

George

Maybe $5000 total on eBay?

 

[MOXJO7282]

I just rented my last TS for 2010 and had the best year ever, so until something changes, I continue to be a very satisfied Marriott owner. The big test for me will be in January when I go to reserve my Maui Marriott Pres weeks for 2012 using the 13 month rule. If things go as usual, then I will continue to be a satisfied customer.

I wrote this is Sept 2010 and for me I could write the same thing today. I've rented all but our 2 GO weeks for Aug this year and we're about to go on our 6th trip to Maui in 15 days, creating another set of priceless memories.

 

[DPat54]

We own 3 Marriott TS, plus 2,500 Club Points. It's a love\hate relationship. I love Marriott Resorts, I hate Marriott. Too many restrictions, i.e. why do points and weeks expire? It's like a gift card at Walmart. If I was the merchant I'd be saying: "Sure, give me your money and NEVER use the product." And another thing, why is the exchange table a big secret? We all know that certain weeks at certain resorts are stronger than other weeks. But try getting II to tell you why your exchange request isn't working. All you'll get is: "We don't have the inventory." BS. I requested this exchange 6 months ago. You've had inventory....it's just that someone, somehow, broke in line ahead of me. And don't say it's my TS. I own at Aruba Surf Club, Ocean Pointe, and week 6 at Baypoint. Any of those are good weeks for exchange.

 

[DPat54]

Oh yeah, to net it out....the love/hate relationship: If someone would offer me 80 cents on the dollar I'd be gone. But the offers are more like 30 cents. So...lol, instead of selling, I just bought 2,500 Club Points. If I'm stuck with these weeks, at least do something to increase my chances of taking the vacations I want.

 

[MOXJO7282]

Yeah that's really the spin I'm putting on it. How much does it cost to pay retail? I have an option to stay at Maui Ocean Club as it is my home resort. We love going to Maui, and will continue to do so as long as my heart is ticking. I'm 30 and my wife is 28, and we have been there now 3 times in our 4 years of marriage. 2 of those times as owners, and now we have a little one (11 months) who is coming with us on Saturday when we leave for Maui this time. Both of my deeds are paid for, and we should have many decades of happy vacationing. I still believe over the long run, what I paid for the deeds and what MFs cost per year will be less than if I paid retail for all of these trips.

I would say this is a fair statement for the 2BDRM OF unit you have as the financial savings is significant comparing MF to renting the same, but the 1BDRM not so much because renting the same is often MF or lower so you have no ROI on that one quite frankly.

 

[pnpine2012]

enip

This is a worthless property for my needs and I am trying to get rid of it.

 

[csalter2]

Why?

This is a worthless property for my needs and I am trying to get rid of it.

Why is it worthless? What property do you own?

 

[GregT]

Хороший магазин китайской электроники spam link removed Быстрая бесплатная доставка, дёшево и качественно. Есть русский язык. Советую.

I disagree.

 

[mjm1]

:rofl::rofl:

I disagree.