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Looking for Feedback - Marriott VC New Buyers!

Omken

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I really like the flexibility of Marriott's new program (new buyer, not legacy) but cannot find much feedback from owners who bought into their new program.

Would appreciate any feedback...good or bad..... on buying into this new program.

Any feedback, suggestions, advice, experiences, would really be appreciated!

Thanks!
 

GregT

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Marriott: Maui Ocean Club Lahaina Villas (3BRx5), Ko Olina, Shadow Ridge II, Willow Ridge, Aruba Ocean Club, DC Points HGVC: Flamingo, Sea World, I-Drive, Starwood Bella (x4), SDO, TradeWinds, Worldmark
Most TUGgers who bought points did so to add to their legacy point holdings. I don't believe we have a pure points purchaser. It is hard to recommend buying Trust Points because the MFs are so high, its not that different from just rentinga week from an owner (and saving the up-front purchase price).

Its not clear what the resale value of the points will because Marriott has not made clear what rights they will allow to transfer to the resale purchaser (they could really restrict usage, which would kill the resale value).

All this being said - it is a good points system that has a lot of useful features. The advantage to buying points (versus renting) is you maintain the cancelation protections and can add to your points as you need (by renting points or buying more points). I also believe they will add features that benefit the direct purchaser, because they have to find ways to attract new buyers.

TUGgers have rarely been able to recommend a purchase direct from the developer and this is no exception. But if you do buy so you can play with the system, consider a small points package and then rent what you need.

Good luck and let us know what you decide.

Best,

Greg
 
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jimf41

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Like GregT I'm not a DC trust point owner and I haven't seen any sole trust point owners show up on TUG yet. I'll give you a little perspective on the points system since you are considering buying trust points from Marriott.

I own a Platinum week at Frenchmans Cove (MFC) in St Thomas and since I'm familiar with that resort I'll use it as an example.

A platinum week at MFC will require 4125 trust points to reserve. Since they only sell trust points in 250 point increments you'll have to but 4250 points. According to recent threads the best we can tell is the price per point varies depending on the amount bought and the incentives included. The lowest recent price was $9.83 per point with $.41 maintenance fee (MF) annually for each point.

$4250 points @ $9.83 = $41777 + $1742 + closing costs which I figure at about $2000

On the other hand you can buy that Platinum week on the resale market privately. The lowest purchase I've confirmed is $15,500. One was recently announced on TUG as selling at $7500 but no one has actually confirmed if the sale went through. Most of the Platinum weeks seem to be selling between $18000 and $22000. The MF on an owned Platinum week are $1605 with $232 of that being property tax which is deductible on your income tax return.

Owning 4250 trust points gives you full access to all the advantages of trading for MRPs and depositing points in the DC exchange to visit other resorts. If you buy resale you can use or rent your week. You can trade it through II for other MVCI resorts or any other brand resort in IIs inventory if your week has enough trade power.

There are many more features to buying trust points but the main point is the price difference. At MFC it's about $20000 to $30000 more to buy trust points rather than a week resale. Only you can decide which is better for you.
 

Omken

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Thanks Greg. Marriott makes this very confusing. If I buy, I will be buying Vacation Club Points. How are they different from DC Points and Legacy Points? If I want To add points, can I add DC, Legacy, or do I need to purchase Vacation Club points?

Thanks for the help!
 

SMB1

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Thanks Greg. Marriott makes this very confusing. If I buy, I will be buying Vacation Club Points. How are they different from DC Points and Legacy Points? If I want To add points, can I add DC, Legacy, or do I need to purchase Vacation Club points?

Thanks for the help!
Yes it can be very confusing. I know exactly what I own and what to do with them, but it is still difficult for me to explain. I'll try. There are:

Weeks Owners who own a deeded week which they can occupy, rent, or trade with II.

Enrolled Weeks owners who own a deeded week which they can occupy, rent, trade with II or exchange for Marriott Vacation Club Destinations Points (I used all the words in the name because these are points about which you asked. Vacation club points and destination points are the same thing.), to trade through Marriott's internal exchange program. These enrolled owners' points are called legacy points around here to clarify.

Trust owners own Vacation Club/Destination Club (DC) points. This is what you would own. These allow you to book any resort, for any amount of days, checking in any day of the week based on availability.

Til now you would have to buy more DC pionts if you want to increase your porfolio. I guess, as Puck mentions in another thread, now there is a way to purchase a minimum amount of trust points along with a resale deeded week from Marriott which would be able to enroll exchange for DC points. This sounds great to me. This would make you an enrolled owner (from above) who also owns trust points, which is what I am. However I was a weeks owner first, enrolled, and bought trust points after.

Good luck in your decision. Keep reading here and asking questions. Only you will know which option, if any, is right for you. Many here would consider my purchases ill advised, but I made them as an informed consumer, and I'm very happy with them. Most who do their homework and know what they are getting into prior to purchasing will be happy, whichever route they choose.
 

m61376

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Good luck in your decision. Keep reading here and asking questions. Only you will know which option, if any, is right for you. Many here would consider my purchases ill advised, but I made them as an informed consumer, and I'm very happy with them. Most who do their homework and know what they are getting into prior to purchasing will be happy, whichever route they choose.
:clap: That's the best advice- learn about the system, the pros and cons of each type of purchase, and then decide what is best for you and your family.

When weighing the options and considering the expenses remember that there is one intangible that defies money- ownership does almost force you to plan vacations, and the family time can be truly priceless.:)
 

GregT

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Thanks Greg. Marriott makes this very confusing. If I buy, I will be buying Vacation Club Points. How are they different from DC Points and Legacy Points? If I want To add points, can I add DC, Legacy, or do I need to purchase Vacation Club points?

Thanks for the help!
If Marriott is selling you what they are calling Vacation Club Points, that is the same thing that we are calling Trust Points. There are two types of points (that is a legal distinction): Trust Points and Legacy Points (that people refer to collectively as DC Points, ie Points for the Destination Club).

You are buying Trust Points that are "backed" by a pool of weeks. Whereas I own a specific week that I can proactively redeem on a annual basis and receive Legacy Points. Either way, the resulting points are our currency to use to make reservations in the Marriott system. I personally believe your Trust Points will prove to be more powerful/useful over time (because Marriott needs to give Trust Points an advantage to keep selling them) -- but right now Trust Points and Legacy Points appear to be comparable in usefulness.

Point systems are terrific and Marriott has introduced a very good one -- there are many features to like about it and Marriott properties are among the best in the timeshare world.

The primary issues for you as a buyer are that you are paying a premium price for the privilege of making reservations and the MFs are pretty consistent with an arms-length rental from another owner. The benefit for you is that, as a direct purchaser, you will have access to the Marriott system. You are hoping that Marriott does bestow benefits to you as a direct purchaser -- and that they are fair to you when you go to resell your points.

Good luck with your analysis -- please let me know what you do.

Best,

Greg
 

m61376

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This is the thread that SMB1 above referred to, and it is something worth considering.

On the possible negative it would give you two types of points, but I believe over time they will work more and more seamlessly. On the positive side, you could own a deeded week where you'd like to frequently visit and or give you direct trade/rental options as well as converting to points, and it would effectively lower your per point cost and possibly annual maintenance fees.

If I were buying directly today, this is the only way I'd do it- doesn't make it right, but just a viable option that you should at least look into and strongly consider.
 

KathyPet

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I still am not a true believer in the points program although I did enroll. To me the proof is in the pudding and I do not think that we have had nearly enough feedback yet from trust point owners as to their ability to get the week they want and the view they want at a sold out resort with their points. That is the final deciding factor and I still am in wait and see mode.
 

puckmanfl

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good morning...

Kathy...
I have snagged park city ski weeks for 2012... Grande ocean HHI in August 2012... both with "points" in sold out resorts. There is Newport availability on points June/July and August 2012. These were with Legacy points thru the "exchange company" Trust points has direct access to this as well...

It is clear that Platinum inventory at "sold out resorts" is available thru DC points....

p.s just snagged my 2013 ski week on points as well....
 

m61376

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Puck- I appreciate that you've been very happy with the program. However, to give a more balanced picture, your "weeks" were mostly 5 day excursions if I remember correctly, maximizing the lower point cost of Sun.-Thurs. reservations.

The increased flexibility of point reservations comes at a higher cost (due to the skim factor, etc.) and the OP needs to consider that when making the right decision for himself/herself.
 

KathyPet

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I know that there are TUGGERS including myself who have had success in using DC points. I have also read some posts about owners who were put on wait lists for trades they wanted. I just do not think that there is enough volume yet in the DC program to make a true determination as to Marriott's ability to fill these requests at sold out resorts on a ongoing basis.
 

m61376

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I know that there are TUGGERS including myself who have had success in using DC points. I have also read some posts about owners who were put on wait lists for trades they wanted. I just do not think that there is enough volume yet in the DC program to make a true determination as to Marriott's ability to fill these requests at sold out resorts on a ongoing basis.
I tend to agree. I think Marriott is counting on the point variations to balance out the demand. However, when selling the weeks initially as weeks they used varied purchase prices which theoretically should have acted the same way to even out the demand. However, at most if not all properties the first weeks to sell out were the Plat. Plus weeks, with purchase demand for Platinum weeks > Gold> Silver> Bronze, so costs don't necessarily equalize demand. I anticipate the demand for hot holiday weeks to exceed the supply, since now Marriott can resell the dream of being able to book those Plat. Plus weeks to every buyer who wants to plunk down enough cash. I foresee a lot of unhappy buyers, who bought anticipating a week 51, 52 or 7 in high demand destinations for those time periods.

I look back on all the years while my kids were in school and we went away every President's week, and paid the higher rates because we couldn't go the week before or the week after. Although some parents simply take the kids out of school, many will not and will pay exorbitant rates to travel then, so I don't think the point differential is going to even out the demand.
 
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