Marriott increases EOY purchase upgrade price.

[pwrshift]

Was told by a sales rep at Canyon Villas that Marriott has now eliminated the EOY purchase benefit of paying 60% for it and upgrading to EY within a year for the 40% balance (at least at Canyon Villas). The upgrade is now 50%...making the final price 110% of the EY purchase price.

Either Marriott is getting greedy or closing a loop hole. You can still purchase 50% of two different resorts for two EOY if you buy at the same time.

Brian

 

[dougp26364]

Was told by a sales rep at Canyon Villas that Marriott has now eliminated the EOY purchase benefit of paying 60% for it and upgrading to EY within a year for the 40% balance (at least at Canyon Villas). The upgrade is now 50%...making the final price 110% of the EY purchase price.

Either Marriott is getting greedy or closing a loop hole. You can still purchase 50% of two different resorts for two EOY if you buy at the same time.

Brian

It was this way when we purchased an EOY unit at GC. You paid a premium for the first unit and than paid 50% of what the cost of annual usage would be if you purchased the corresponding EOY unit within 18 months.

 

[MikeM132]

We just bought 2 EOY in Hi, and were told we could also upgrade for 50 percent within 18 months.

 

[pwrshift]

Mike...I'm assuming you paid 60% for the EOY weeks and if you buy another EOY for 50% within 18 months you've paid 110% of what an EY buyer pays?

Brian

 

[MikeM132]

Mike...I'm assuming you paid 60% for the EOY weeks and if you buy another EOY for 50% within 18 months you've paid 110% of what an EY buyer pays?

Brian

Yes, that is it exactly. Got the same deal at both Hawaii EOY units we are buying now. It's actually an OK deal that way, in my opinion. I know I bought from the developer again, but these beach properties are too tough for me to find resale (at least what I'm looking for and at any kind of real discount from developer pricing). At least I got another boatload of incentive points, so now I'm reloaded again after cashing most of mine in on 2 weeks in HI.

 

[dougp26364]

Initially, I had no intention of purchasing the corresponding odd year EOY usage at GC but, once we stayed there we literally fell in love with the resort. So now I'm getting myself into position to purchase the other half and repositioning the usage at our other resorts to accomadate one more unit.

Note to self: STOP EXCHANGING INTO OTHER MARRIOTT'S AND QUIT TAKING THE TOURS. It's getting to expensive.

Hopefully we'll be able to rent out the one bedroom portion until such time as we begin to need it. Eventually our kids will get settled into jobs where they can take vacation. They can either go with us or we can let them use the one bedroom side at their leasure. Eventually I'm sure there'll be grandkids and we can use it to exchange into more family oriented resorts. Of course we can always use it to exchange into other Marrriot's, especially Branson since it's a drive to destination for us and I've already resisted purchasing there.

 

[MikeM132]

I know what you mean about not taking tours. I am really helping Marriott raise their batting average (2 for 2 on our last trip!). Capitol One would fire me in an hour---I can't say no.

 

[ZDJ]

So if upgrading an EOY costs 50% of EY cost (assuming you already paid 60% of EY to get EOY), how much would it cost/would it be possible to get trade-in credit of an EY to EY for a different season? (i.e. Silver to Gold or Platinum?) What kind of credit could I get if I wanted to get rid of Grande Vista Gold EY and buy at Grand Chateau Gold? (i'm new to this and want to make sure I have flexibility in my purchases).

 

[Dave M]

Upgrading an EOY to an EY is a specific program that Marriott offers. Conversely, Marriott does not typically allow trade-ins of the type you suggest.

Marriott does, however, have a program that allows trade-ins of weeks it needs. Marriott offers 60% of its current selling price for the week you trade in and requires that you buy the new one for its current selling price, paying at least $15,000 more than what Marriott is paying you for your week.

Thus, you might get zero credit if Marriott doesn't currently need your week.

Call and ask.

 

[dougp26364]

Actually, you don't even upgrade from an EOY to an EY with Marriott. You are actually purchasing another EOY contract that corresponds the original contract. It clearly states in our contract that we have the option to purchases and additional EOY odd year for 50% of what would have been the original purchase price of an EY unit.

So there really isn't even the ability to upgrade from an EOY to an EY with Marriott. You only have the right to purchase another EOY unit that corresponds to the original unit purchased. They do, however, lock in the price at 50% of what the EY unit would have cost on the original purchase date of the first EOY unit.

 

[GaryDouglas]

Last June we exercised our option to purchase the 'other' EOY for our MOC OF. It had to be done within 1 year of the original purchase date. We paid the remaining 40% which negated the 10% penalty on the first EOY. I walked away with two deeded EOYs (and a few more points). If we ever have to get rid of one of them (which we can't imagine), we have that as an option. If so, in time, we could break even on the deal. But we plan on fully utilizing these suckers, not to mention my daughter.