I would speculate the next major phase of DClub will include the addition of very high end private homes that are available only through the Explorer Collection, and at very high point prices.
An example might be a 3BR/4BR homes in St. John, Turks and Caicos, Maldives, Grand Cayman, Big Island, etc. I choose tropical spots because I'm not much of a skier --and will count on Puck to respond with the premium ski destinations. Jackson Hole?
This would be something similar to what people are/were paying $250,000 up-front to purchase usage rights in a (traditional) Destination Club like the now defunct High Country Club, or whatever it was called. Wyndham has something similar called the Presidential Reserve I think, and it would be a good marketing ploy. Marriott could sell someone 35,000 Trust Points that would be good for two weeks at one of these places -- and they compete with the traditional Destination Clubs, with the credibility of the Marriott/Ritz brand. Plus you only need one or two of each property in the Trust to re-sell the dream over and over again.
I don't expect to see further construction of the traditional timeshares that were built between 1985-2000, and that expansion will be from converting existing buildings/condominiums/hotels, like HGVC is doing at Hokulani, Park City, and Myrtle Beach. Marriott is behind HGVC (and Wyndham) in identifying and acquiring these convertible properties.
Finally, I think they will acquire Interval International because it opens up a robust supply of properties for a rental business, and they could even create hybrid programs with Starwood and Hyatt if all parties decide it is in their interest to collaborate. Not clear if Starwood and Hyatt view themselves as long term players in the timeshare space, and Marriott is the logical consolidator.
We will see, interesting years to come for VAC.
Best,
Greg