We had our "Owners Update" this week at the Maui Ocean Club. We have a large portfolio, so the salesperson's angle was to present the new ownership levels and emphasize that MVC's new management is focusing on the top owners. She had us down for around 17K in eligible Club Points towards Reserve and Pinnacle, and my number was 21,125 Using
@Dean 's methodology). They ultimately agreed that my number was correct, as they made a mistake in compiling the numbers.
The conversation then turned toward whether we'd like to "grandfather" in to the lower levels for Reserve and Pinnacle. They presented a letter from MVC instructing the sales people to use 25K and 40K rather than 30K and 50K as a special promotion. The letter did not mention the termination date of May 30, 2027, as specified in the enrollment rules, implying that this was a limited time opportunity thereby trying to create a sense of urgency.
Since we also own 5 quarterly shares at GRC, each purchased through an Authorized Reseller, we asked them about that language and whether we may already qualify as Reserve or Pinnacle. They dodged that issue twice. I think either they did not know the answer or did not understand what I was talking about. In the end, their only angle was to try to sell us Club Points to get us up to Reserve status under the grandfather clause. We told them that we did not see any value in spending nearly $80,000 ($18.04 per point) to qualify for Reserve, when we found the benefits to be only marginally better than what we now have as Chairman. They then let us go.