marriott resale repurchase program

[1965]

I sold (3) of my Marriott Desert spring: Platinmum: 2 bedrooms: annual use: weeks:lock off
to marriott resale department
NO ROFR, direct sale to MArriott Vacationclub resale deparmtent?

is it correct this has only been going on for about 30 days with marriott vacaton club timeshare resale repurchase
and has not been the policy with MVC for many many years?


Is it true that is it very rare for any other timeshare developer
would buy back their own timeshares directly, not thru the ROFR process
?

why did they do this? do they need my Marriott Platinmum: weeks inventory
for their Marriott Points system?
What is different now in last 30 days, that did not exist for many many years in the past with marriott vacation club:Resale department?

 

[rrlongwell]

I sold (3) of my Marriott Desert spring: Platinmum: 2 bedrooms: annual use: weeks:lock off ...

Marriott's Timeshare division was spun off recently from the main company. From the sounds of it, they are now operating independently from the former parent company.

 

[rthib]

My guess is we will continue to see,this at some of the older properties.
It makes more financial sense now for Marriott.
Before they were competing on the resale market to resale weeks but now they can sell those "points".
A $3000 week they buy back is equal to at least 3000 points or $30,000+ to Marriott.

 

[dioxide45]

There have reports here on TUG of Marriott buying weeks back through their resale department at at least two resorts; Desert Springs I and Sabal Palms. Both of these resorts do not have a ROFR provision in their contracts. This is why you are likely seeing Marriott buy weeks back through their resale department at these resorts.

The trust also owns only 93 weeks at DSVI. That isn't a lot of weeks, and many may not be prime weeks. They could be buying back platinum weeks to feed in to the trust. They are probably analyzing their reservations and what requests they are having a hard time filling. Using that data they can selectively determine what they need to buy back to make filling those requests easier.

 

[Omken]

Vacation Club Resale

I looked into purchasing 5000 points listed for sale and found out the following:

1. Closing costs $525
2. Transfer fee $4,000
3. Marriott representative told me that buyers of 3rd party Vacation Points would be limited to only 60 days advance for making reservations.

So....... The way I read this is that Marriott claims that they have first right of refusal on resales but first you need to get an offer and and they will make that decision when the title company submits the transfer request. With the limitations that they impose, there will be very little demand for 3rd party buyers, which if there are any offers it will be so low that Marriott will repurchase your investment at less than 50% of what you initially invested.

Also, does anyone know at what point Marriott has to stop selling points? What a great deal for them, keep selling Vacation Points which would limit availability, and at the same time control the resale market so that you are forced to sell to them at a substantial loss.

Am I missing something or is this the real deal? I am looking to purchase but unless I am looking to buy without ever wanting to sell, and unless Marriott has some limitation on how much they can sell to control the availability, this is not feeling like a sound investment.

Please let me know if I am overlooking something, as this is all new to me!

 

[puckmanfl]

good morning...

With the 60 day restriction on resale points... I don't think you would be able to give them away!!!! Who would pay $0.41/pt MF's for an unusable product!!!

Just sayin!!!

These restrictions are just too draconian