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Marriott making it impossible to buy/sell resales

JokSC

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Marriott Grande Ocean, Marriott Ocean Watch, Marriott Destination Points, Disney Hilton Head, Disney Copper Ridge
I've never seen in point of actual fact that Marriott bought back anything and I've talked with thousands of current/former owners on other sites. If you say they did, you'd be the first I've ever heard of in 25 years.

Marriott doesnt make money for its clients--Marriott makes money for its executives and shareholders. Marriott does not make money for the benefit of timeshare owners.

On the resale side, I saw two extensions for the deadline. One was in 2013 and one was in 2016. Few resale buyers are lucky enough to get offered to enroll wit a points purchase--typically only after a number of hard sells dont work to get you to open your checkbook and then only at certain times, under certain conditions, with certain stipulations that ensure you still pay a premium.

If you bought resales, I'm sure you are very happy with your purchases, who wouldnt be when they end up with 20K points and Chairman's club status. But then you said also you haven't gone down that route? So you do or dont have points and Chairmans club status?

If you bought early at pre-construction rates, I imagine you are also happy. Not everyone did though. Some just plunked down the current cost for a Hawaii week in points ($120,000 and didn't know they were overpaying 400% compared to actual value).
 

JokSC

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We just sold back two weeks
 

SeaDoc

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Chairman's Club:
2 Marriott Newport Coasts-PLAT;
1 Marriott Desert Springs I-RED;
1 Marriott Timber Lodge - Summer-PLAT;
3 StarElite Vistana: 2 Westin Lagunamar-PLAT
Which weeks did you sell back? As an aside, given this lengthy conversation, let me throw In my two cents. As an owner for 10+ years, 6 weeks, all convertible to 20k points annually, I love this new product. Yes, love! I just spent over 60 vacation days this year in Maui OF and Ritz Kapalua x 18 days, RC Lake Tahoe and Timberlodge/Grand Residance x 12 days skiing, ko’olina penthouse x 12 days, ritz Lake Tahoe 12 days early summer hiking, Las Vegas x 7 nights, Park city 4 nights, and RC aspen 5 nights over 4th of July! Year isn’t over yet! All were 2 bedrooms or better except for RC kapalua which was a beautiful one bedroom ocean view with kitchen! My annual maintenance fee is less than 10% of what these trips would have pencilled out if paid best price retail. So, for those who belittle this product, you’re not using it to its full potential. And yes, I was a salesperson who didn’t lie to owners or prospective owners of this product. I shared with them the enormous leverage you can get out of it! Next Vacation is ritz Carlton SF in the fall...


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Dean

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Which weeks did you sell back? As an aside, given this lengthy conversation, let me throw In my two cents. As an owner for 10+ years, 6 weeks, all convertible to 20k points annually, I love this new product. Yes, love! I just spent over 60 vacation days this year in Maui OF and Ritz Kapalua x 18 days, RC Lake Tahoe and Timberlodge/Grand Residance x 12 days skiing, ko’olina penthouse x 12 days, ritz Lake Tahoe 12 days early summer hiking, Las Vegas x 7 nights, Park city 4 nights, and RC aspen 5 nights over 4th of July! Year isn’t over yet! All were 2 bedrooms or better except for RC kapalua which was a beautiful one bedroom ocean view with kitchen! My annual maintenance fee is less than 10% of what these trips would have pencilled out if paid best price retail. So, for those who belittle this product, you’re not using it to its full potential. And yes, I was a salesperson who didn’t lie to owners or prospective owners of this product. I shared with them the enormous leverage you can get out of it! Next Vacation is ritz Carlton SF in the fall...


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Personally I think the answer is it depends. It gives options, control and flexibility and for that I do like/love it and I do use it to our advantage. The skim is a bit of an aggravation but I look at it overall. I tend to use the option that best fits my situation whether it be using the owned seeks, using DC points or exchanging. And in reality I use them in tandem to give myself options for the cheapest and or best possible outcome. That may mean I supplement an exchange with points to make it 10-12 days or it might mean I replace a points reservation with an exchange or even replace a weeks reservation with a lessor exchange and take the points for later use. I've done all of those within the last year. Within the last year I've been to HI for 3 weeks (15 people), had an exchange to CH, been to Aruba for 11 nights (4 couples) & had 11 units at HHI for week 27 (56 people) just with Marriott, other trips with other options.
 
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catvag

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Marriott bought my weeks in Maui and week in Kauai, for about 30% of what I paid for them. They said they would buy back my Marriott Aruba Surf Club when I bought it but now will only....very kindly...accept the deed back with no $$$ to me. Hate those people, the Surf Club, and their system. I usually trade out of there and stay elsewhere in Aruba.
 

iqmavin

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Very interesting topic, I go back and forth on this rent own thing. Little history on me have been going to Maui for 16 years, after a couple year at the Hyatt at $3000 per week we decided to head to the Marriott for a presentation and we knew friends with a Marriott TS and they loved it. Went to an owners reception at Maui Ocean Club, could find nobody who did not love their TS. We purchased an annual 1br OV for $30,000 in 2005, after I purchased I found TUG and researched resale, decided that I would change to EOY within our right of cancel period as I did not was to risk so much and figured if I wanted the even year I would purchase resale at $12-13k. I saw that resale units were selling for $12-$13k I bought @ $18k, and they gave me a free week in Maui, so the value to me was $3500 for the free week. So I figured I would be into this $14500 after the free week and then I could trade, etc. I figured if resale were selling $12-13k in 2005, and they were I would risk a couple grand as if I used it a couple time then sold for 12k I was golden. MF were $590 back then. Well, who could predict the financial crash in 2007-08 that lasted 3-4 years and gutted the TS resale market, not many, I saw our unit, well all units down a lot I actually tried to pick up the even year 1br OV at MOC twice in 2012 for $3000, both time Marriott bought it back.

So I go to Maui every year, most years, twice per year. I actually saw my exact unit on resale for $3500 and I believe it would pass FROR, but I am questioning the value. I have been renting from owners on the even year for the cost of the MF. What I have observed over past 15 years, MF went from $600 to current about $1100 per year or 1200-2200 per usage. Rents have gone from 1400 to about 2500 now. So, I am struggling with the purchase price + MF vs rental break even point. Okay I realize this is not an investment but what are your thoughts?

I only go during non-peak times mid-May and September.

Thanks
Aloha

I just called and spoke with a resale manager re my two bedroom at Ko’olina on Oahu. They were ready willing and able to buy mine for $8300 less 500. So I think it might depend on property, although the process seemed alive and well. They also acknowledged it was a low ball bid and after market would net me more. They quoted after market prices from 4-17K. Very friendly and helpful. Aloha
 
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