wvacations
TUG Member
Went to a mini-presentation this morning at Timber Lodge. Normally this is just a group that watches a short video on the Destination Club Program. It is supposed to last 30 minutes and you get 5,000 Marriott Reward Points. This morning either everyone was up too late or they went out skiing because we were the only ones to show up! So it became kind of a personal presentation. No pressure, right around 25 minutes.
Some information that the sales person said :
- Marriott Vacation Worldwide is debt free and owns lots of land. They will be selling the land and purchasing distressed resorts and converting them to Marriott Vacation Properties. Of course all this inventory will be in the land trust
- DC Points selling 10 times faster than forecast. That is why there have been 5 price increases since the opening of the Destination Club. Minimum purchase is 1,500 points.
- The sheet that was on the table to review before the presentation start mentions "Ask how to SUPER CHARGE your vacation portfolio." He leaned towards saying you had to buy trust points to use "ALL" your points for Trust Inventory. However, when asked point blank, "If I buy 1,500 DC points, can my 13,700 enrolled points access the trust inventory?" He answered "Not technically." Indicated that it would be easier to get trust inventory over to exchange company inventory if using at least some Trust points. Confirmed you cannot mix trust/enrolled points for a single night, but you could get something like 3 trust nights and 4 exchange nights to make a week vacation.
- II inventory of Marriott properties will diminish. As more and more owners convert to points, the inventory will not be in II.
- Later this year Marriott will have resale or buy back program for DC points. Selling points is such a a success they will be able to buy them back and sell them again.
All of the above was nothing to me and most likely not new to TUG. Here are some statements that I found to be new,
- II is going to a point system just like DC and RCI. No more trading Silver Studios to Platinum 2BR's. II has already started limiting trades of studios outside of 60 days. I have actually noticed this over the last 4 months. My Platinum Studios at Shadow Ridge use to see the exact same inventory as my 1BR's. Now I am not seeing the same inventory any longer.
- Price to enroll DEVELOPER weeks is going to be $3,000 within the next 60 days! He did not have a new price for "external" weeks to be enrolled.
Meeting came to an end without a push for us to buy points right now. He said it is not IF we later to buy points, it is WHEN decide to points they will be more expensive.
All and all not a bad presentation.
Some information that the sales person said :
- Marriott Vacation Worldwide is debt free and owns lots of land. They will be selling the land and purchasing distressed resorts and converting them to Marriott Vacation Properties. Of course all this inventory will be in the land trust
- DC Points selling 10 times faster than forecast. That is why there have been 5 price increases since the opening of the Destination Club. Minimum purchase is 1,500 points.
- The sheet that was on the table to review before the presentation start mentions "Ask how to SUPER CHARGE your vacation portfolio." He leaned towards saying you had to buy trust points to use "ALL" your points for Trust Inventory. However, when asked point blank, "If I buy 1,500 DC points, can my 13,700 enrolled points access the trust inventory?" He answered "Not technically." Indicated that it would be easier to get trust inventory over to exchange company inventory if using at least some Trust points. Confirmed you cannot mix trust/enrolled points for a single night, but you could get something like 3 trust nights and 4 exchange nights to make a week vacation.
- II inventory of Marriott properties will diminish. As more and more owners convert to points, the inventory will not be in II.
- Later this year Marriott will have resale or buy back program for DC points. Selling points is such a a success they will be able to buy them back and sell them again.
All of the above was nothing to me and most likely not new to TUG. Here are some statements that I found to be new,
- II is going to a point system just like DC and RCI. No more trading Silver Studios to Platinum 2BR's. II has already started limiting trades of studios outside of 60 days. I have actually noticed this over the last 4 months. My Platinum Studios at Shadow Ridge use to see the exact same inventory as my 1BR's. Now I am not seeing the same inventory any longer.
- Price to enroll DEVELOPER weeks is going to be $3,000 within the next 60 days! He did not have a new price for "external" weeks to be enrolled.
Meeting came to an end without a push for us to buy points right now. He said it is not IF we later to buy points, it is WHEN decide to points they will be more expensive.
All and all not a bad presentation.