Marriott Mountainside or Summit Watch

[davidvel]

Perhaps. MVC never sells weeks out of the trust. So in that case there is no such thing as a MVC resale week.

I am not sure we will ever know. I think it is one of those internally contrived terms that simply cannot be practically defined.

 

[Hindsite]

Yes, they are all under current management contract with MVW. The salient issue is whether MVW owns the majority of the interests via the Trust.

For the non-fractional MVC resorts, even where the MVW ownership is not the majority, the level of input from the majority of owners is such that, even if MVW own only 10% of the units, they dominate the control as fewer than 10% of other owners feel the need or want to get involved in the management of the resort.
If you want control over your property, buy a vacation home as full ownership.
I've not heard of any MVC resorts in the US where there is dominant non-MVW control of the HOA.

 

[rcdcowner557]

According to a 2022 disclosure....

Summit Watch had 33.12 Units in the Trust out of 135 total Units so 24.5% Trust Owned
Mountainside had 34.69 Units in the Trust out of 182 total Units so 19.1% Trust Owned

The raw data from the disclosure.....

SUMMIT WATCH AT PARK CITY (Park City, Utah). The Summit Watch at Park City project
contains a total of 135 units located in 6 multi-story buildings. All units and amenities have been completed. The
amenities include three outdoor whirlpool spas, one indoor whirlpool spa, exercise room and one indoor/outdoor
swimming pool. The inventory in the project that has been committed to the Trust Plan is as follows:
UNITS FROM WHICH TIMESHARE INTERESTS ARE BEING PLACED IN THE PLAN:
Unit Number2
(Note: Component numbers are set forth in the
Component Site Chart provided to Purchasers)
Unit Type Number
of Baths
Occupancy Full
Kitchen
One thousand seven hundred twenty-two (1,722)
individual timeshare interests (which is the equivalent of
33.12 units (52 timeshare interests per unit)) contained in
multiple units throughout Component 29 have been
committed to the Trust Plan.

MOUNTAINSIDE (Park City, Utah). The MountainSide project contains a total of 182 units
located in 1 multi-story building. All units and amenities have been completed. The amenities include one outdoor
pool, six whirlpool spas, two steam rooms, two saunas and exercise room. The inventory in the project that has been
committed to the Trust Plan is as follows:
UNITS FROM WHICH TIMESHARE INTERESTS ARE BEING PLACED IN THE PLAN:
Unit Number2
(Note: Component numbers are set forth in the
Component Site Chart provided to Purchasers)
Unit Type Number
of Baths
Occupancy Full
Kitchen
One thousand eight hundred four (1,804) individual
timeshare interests (which is the equivalent of 34.69 units
(52 timeshare interests per unit)) contained in multiple
units throughout Component 24 have been committed to
the Trust Plan.

Thank you! This is exactly the information I was looking for.

 

[davidvel]

Thank you! This is exactly the information I was looking for.

Except that it isn't, you just think it is. Read hindsite's post just above, for the real answer (much more succinct than my response.)

 

[rcdcowner557]

Except that it isn't, you just think it is. Read hindsite's post just above, for the real answer (much more succinct than my response.)

Yes, I understand that. In addition, I confirmed by comparing to numbers in most recent disclosure that MVW ownership is increasing slowly but steadily. In just two years they have taken back approximately 10 more units (meaning approximately 520 true owners in the past two years have deemed the proposition not worth it). We are a hard pass on owning anything that MVW manages, but we will almost certainly continue to enjoy their best properties on a rental basis now and then. Thank you to everyone who responded.

 

[davidvel]

Yes, I understand that. In addition, I confirmed by comparing to numbers in most recent disclosure that MVW ownership is increasing slowly but steadily. In just two years they have taken back approximately 10 more units (meaning approximately 520 true owners in the past two years have deemed the proposition not worth it). We are a hard pass on owning anything that MVW manages, but we will almost certainly continue to enjoy their best properties on a rental basis now and then. Thank you to everyone who responded.

How would they take back a deed for the whole year? Maybe transferred a deed they controlled to the trust, but otherwise deeds are generally 1 week/51.