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Here is the Starwood FAQ, which will give you a good over-all view of how Starwood works.
15) How do I make a reservation with Starwood?
The earliest you can make a reservation at your home resort for your deeded unit size & season is 12 mos. from your desired check-in date.
That means if you own a 2 bdm. lock-off, at 12 mos. out, you can reserve:
1) The whole 2 bedroom unit or
2) Just the 1 bdm. side or
3) Just the studio side
To make a reservation at your home resort, call owner services - (888) 986-9637, during the Owner's Preference Period, 12-8 mos. out from the date of arrival. Best practice: Call exactly at 12 mos. out at 9:00 a.m. ET.
To make a Staroption exchange, call owner services 8 - 0 mos. out from the date of arrival.
Best Practice: At 12 mos. out, reserve your home resort week as a backup. At exactly 8 mos. out at 9:00 a.m. ET, call and see if the exchange you want is available. If it is, you can cancel your home resort and reserve the exchange.
Reservations for less than a full week can be made 3 - 0 mos. out, if available.
Reservations canceled within 60 days of the check-in date, can only be used to make future reservations at 60 days out from arrival date and Starwood may charge a cancellation fee of $29.