How important is it to be in the Chairman's Circle

[icydog]

If I buy points to get me to the Chairman's Circle will it be important enough to justify a $29000 purchase. I am very sure I know the answer but I am checking just in case I am missing something.

 

[GregT]

If I buy points to get me to the Chairman's Circle will it be important enough to justify a $29000 purchase. I am very sure I know the answer but I am checking just in case I am missing something.

I would not pay $29,000 to achieve Chairman's Circle.

Personally, I like the 2 year banking window, as it makes me less reluctant to borrow points from a future year, but I would not pay money for that ability. I'm not yet that swayed by the other new features, but perhaps something will emerge.

The only thing that I might pay for is points to get to Executive Level, because I think the 1-day booking ability is very powerful.

Let us know what you decide!

Best,

Greg

 

[MichaelColey]

I can't imagine anything in timesharing being worth an extra $29,000.

 

[jimf41]

The only real advantage that I see is being able to bank points two years in advance. While that feature is pretty nice and I will probably use it in the future I wouldn't pay $1000 for it let alone $29000.

However I would appreciate that tuggers not call me Jim in the future. You may address me as Mr Chairman.

 

[MULTIZ321]

The only real advantage that I see is being able to bank points two years in advance. While that feature is pretty nice and I will probably use it in the future I wouldn't pay $1000 for it let alone $29000.

However I would appreciate that tuggers not call me Jim in the future. You may address me as Mr Chairman.

I'm afraid the 'Mr. Chairman' title is reserved for Frank.

Thanks for the laugh.

Best regards,

Richard

 

[icydog]

Since I opted out in 2009 or was it 2008 the only way to get to chairman's circle is to buy up. I can do so by spending $29000 for buying up. I can see the advantageous aspect of the two year banking window but how much is that worth? That's my number one reason for even thinking about it! Otherwise, I'll just rent points from owners like you at 50c per point.

 

[GrayFal]

Since I opted out in 2009 or was it 2008 the only way to get to chairman's circle is to buy up. I can do so by spending $29000 for buying up. I can see the advantageous aspect of the two year banking window but how much is that worth? That's my number one reason for even thinking about it! Otherwise, I'll just rent points from owners like you at 50c per point.

Don't do it…

 

[mpizza]

I thought about bumping-up my ownership to qualify for Chairman, but then I realized I would be a dog chasing his tail!

Next year they'll institute an Lutetium Chairman Level and I'll need to buy even more to qualify!

Maria

 

[Mr. Vker]

Hopefully not very important as I will never be one.

 

[dioxide45]

With only a $29,000 to buy up to what I am thinking they are trying to sell you 2,500 to 3,000. Given that the old levels that would grandfather in are 13,000. It means you have at least 10,000 DC points. Even if a little under that, you are still at least Executive if not Presidential after the new tiers go in to effect. With that you already have the coveted 1+ nights at seven months. I see no reason to pay $30K to go Chairman's Club. The only reason to buy more points is if you need more time, not to get some status. If you need more time, there are far cheaper options which I am sure you have already taken advantage of given that you own 12 Marriott weeks already.

 

[GregT]

I can see the advantageous aspect of the two year banking window but how much is that worth?

It is a convenience -- it's not worth that much in the day and age where you can rent in abundance for $0.50 per point.

But hypothetically, what's it worth?

Disclaimer: very hypothetical, very simplistic

If you have 15,000 points Annually and they are approaching expiration, you can rent/fire sale them for $0.30 per point and collect $4,500 per point.

Then you rent 15,000 points for next year (the Year 2 that would have been the Chairman banking year and saving your expiring points) and you pay $0.50 per rented point, and write a check for $7,500.

So, by being able to bank points for the second year, you saved $3,000 that year -- in the absolute worst case situation where every point was ignored until near expiration.

It's not worth paying $29,000 just for two year banking.

And it's more realistic to think that you might have 2,000/3,000 points or less from your 15,000 points above that are near expiration, saving $400 - $600. How much would I pay to save $400 - $600, with all of these odd scenarios? Maybe $3,000. I'd enroll, and that's about it.

Best,

Greg

 

[dioxide45]

Since I opted out in 2009 or was it 2008 the only way to get to chairman's circle is to buy up. I can do so by spending $29000 for buying up. I can see the advantageous aspect of the two year banking window but how much is that worth? That's my number one reason for even thinking about it! Otherwise, I'll just rent points from owners like you at 50c per point.

When you say you opted out, did you not enroll any of your weeks and end up selling them? Now leaving you with unenrollable external post 6/20/2010 weeks? Do you have any enrolled weeks? I see you have some DC points, how many?

 

[icydog]

When you say you opted out, did you not enroll any of your weeks and end up selling them? Now leaving you with unenrollable external post 6/20/2010 weeks? Do you have any enrolled weeks? I see you have some DC points, how many?

Its amazing how close you got. I did not enroll my resale weeks when Marriott offered the one time buy into points. I subsequently sold them all when my husband died.

I bought Lakeshore before Bob died and enrolled both my weeks giving me 3150 points x 2. I later bought 1500 points from Marriott during a sales presentation in Hilton Head.

About a year, or two, ago I started buying weeks on eBay again. Giving me the resale portfolio I have on my profile.

I also bought three weeks resale from Marriott themselves. One Platinum Ocean Point, One Gold Ocean Point and One Platinum Manor Club MMC which I use solely for MRP.

I actually put this scenario on the table because the Marriott closer never thought of it:

I would buy 2750 points that would get my OP Gold enrolled in DC points. The Gold week itself would be worth 2625 points giving me a total of 5375 points.

I already own 7800 worth of enrolled points from the Lakeshore and 1500 point contract so I would need to buy would be 2750 points at $12.48 per point =$34320 - 15% = $29205.

I would be going up from Premier Platinum to Chairman's Circle with the additional 5375 and my original 7800 =13,175 points enough for the bump to Chairman's from Executive.

As I said my current 7800 points only makes me Premier in the new scenario. And which leads me to my original question. I would get all these points and a bump to Chairman's Circle from Premier. Is it WORTH it in the long run?

 

[taffy19]

Its amazing how close you got. I did not enroll my resale weeks when Marriott offered the one time buy into points. I subsequently sold them all when my husband died.

I bought Lakeshore before Bob died and enrolled both my weeks giving me 3150 points x 2. I later bought 1500 points from Marriott during a sales presentation in Hilton Head.

About a year, or two, ago I started buying weeks on eBay again. Giving me the resale portfolio I have on my profile.

I also bought three weeks resale from Marriott themselves. One Platinum Ocean Point, One Gold Ocean Point and One Platinum Manor Club MMC which I use solely for MRP.

I actually put this scenario on the table because the Marriott closer never thought of it:

I would buy 2750 points that would get my OP Gold enrolled in DC points. The Gold week itself would be worth 2625 points giving me a total of 5375 points.

I already own 7800 worth of enrolled points from the Lakeshore and 1500 point contract so I would need to buy would be 2750 points at $12.48 per point =$34320 - 15% = $29205.

I would be going up from Premier Platinum to Chairman's Circle with the additional 5375 and my original 7800 =13,175 points enough for the bump to Chairman's from Executive.

As I said my current 7800 points only makes me Premier in the new scenario. And which leads me to my original question. I would get all these points and a bump to Chairman's Circle from Premier. Is it WORTH it in the long run?

I agree with Maria that you'll never end up staying at the highest tier because the developer will always offer higher tiers with more benefits and perks if you buy more trust points. They are counting on this and it is good for their bottom line.

As long as we can rent points to and from a Legacy week owner, we will stay enrolled. That is a great feature to have at the moment for all Legacy week owners.

I am curious what you'll end up doing, Marylyn.

I thought about bumping-up my ownership to qualify for Chairman, but then I realized I would be a dog chasing his tail!

Next year they'll institute an Lutetium Chairman Level and I'll need to buy even more to qualify!

Maria

 

[icydog]

Thanks for your input Emmy. I am also hoping to get Dioxide's take on this..

It is a complicated way to do things but it nets me the necessary points to be bumped up to Chairman's Circle for a lot less than buying 5000 points at 12.48 per point.

I called my financial advisor from the sales table and I even asked him to speak to the Marriott people on speaker phone. He basically asked how much I would pay in maintenance fees and if if was a perpetual deed. I don't think he knew enough about timeshares or how they work to ask anything else. Bottom line, like anything in life, it is my decision how I spend my money.

 

[Andar]

Would buying resale points count towards the Chairman level or only developer points?

 

[GregT]

Thanks for your input Emmy. I am also hoping to get Dioxide's take on this..

It is a complicated way to do things but it nets me the necessary points to be bumped up to Chairman's Circle for a lot less than buying 5000 points at 12.48 per point.

I called my financial advisor from the sales table and I even asked him to speak to the Marriott people on speaker phone. He basically asked how much I would pay in maintenance fees and if if was a perpetual deed. I don't think he knew enough about timeshares or how they work to ask anything else. Bottom line, like anything in life, it is my decision how I spend my money.

I think it's interesting that they are allowing you to enroll your resale week (but purchased from Marriott, correct?) if you buy points.

Is the week that you would enroll a trading property? I know you picked it to match up with the number of points needed to hit CC, but if there is a week that you always trade through II, that might be the better week to enroll (or maybe they are enjoying the negotiation, and will enroll both)

Good luck with this and let us know what you decide!

Best,

Greg

 

[SueDonJ]

Would buying resale points count towards the Chairman level or only developer points?

All DC Points count towards the status levels, direct- and resale-purchased Trust Points as well as Exchange Points from enrolled Weeks.

 

[icydog]

I think it's interesting that they are allowing you to enroll your resale week (but purchased from Marriott, correct?) if you buy points.

Is the week that you would enroll a trading property? I know you picked it to match up with the number of points needed to hit CC, but if there is a week that you always trade through II, that might be the better week to enroll (or maybe they are enjoying the negotiation, and will enroll both)

Good luck with this and let us know what you decide!

Best,

Greg

Yes I loved the negotiating. I miss doing it. I was a sales Director at a VERY big company and I loved getting in there again. In fact I was telling them when I was giving them objections and buying signs and when to close the deal, lol.



The OP Gold week matched up best with the goal to get close to Chairman's Club.
I could enroll the Gold resale week since I bought it from Marriott. In order to do so I would need to buy the equivalent of the week in points. The gold week would equate to 2500 points for a gold oceanside week there. In other words the number of points someone would need to trade in there for that view and season.

I actually bought both Ocean Point weeks resale because they were almost identical as the prices on eBay and Tug. I want the weeks so I can go down to visit family who live in Royal Palm Beach. So no, I would not be trading them in II.

In fact I can trade the weeks for Marriott Reward points if I wanted to. The platinum gets 110K every year and the gold gets 110K eoy.

 

[icydog]

All DC Points count towards the status levels, direct- and resale-purchased Trust Points as well as Exchange Points from enrolled Weeks.

To reiterate, if you buy resale points they are eligible for the Status levels.

I, on the other hand, bought three weeks directly from Marriott Resale Department and never anticipated enrolling any of them. It would have been crazy to spend $9000 on a week and then pay another $31K to enroll them in the DC program to get 5000 points.

The only reason I am even thinking of doing this would be to get to Chairman's Circle. Maybe I am CRAZY!!!!