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Sales Presentation - Oceana Palms

r-travel

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2.5K points owner here - and had an interesting presentation this week at MVO. The pitch was essentially an offer to double our portfolio as a way to save on total costs over the next 10 years. They explained that maintenance fees for points owners are projected to increase significantly, averaging over 15% per year, due to new mandatory reserve requirements in Florida, as outlined in bill SB4D. However, they mentioned that Marriott would not be passing the reserves funding on to Select and higher owners, so anyone with 4,000+ points could expect their increases to be stabilized between 0.5% and 1.0% per year. According to them, our total fees are projected to be around $60K over 10 years, but this would decrease to approximately $42K if we doubled our portfolio. To do so, we’d need to purchase the points at around $15 per point (totaling $37.5K).

The second part of the pitch suggested that it wouldn’t matter if we didn’t use all the points, as Select and higher owners can rent out any points they don’t plan to use (via Owner Services) and expect to earn at least $2 per point, possibly as much as $3 per point, with a minimum guarantee of $2. Said they typically rent out within 30-45 days. Based on this, they claimed we could rent out half our points and make back $50K, meaning an upgrade to a 5K portfolio could potentially net us around $30K in savings over 10 years.

I'm not a frequent poster here, but I’ve read enough to feel that if this were true, someone would have mentioned it by now. I did some back-of-the-envelope calculations and concluded that, if the claims were accurate, by 2035, owners with fewer than 4,000 points would see fees approaching $3.60+ per point per year, while Select and higher owners would still be under $0.90 per point. This scenario seemed unrealistic. Additionally, if points can fetch $2+ when rented through Owner Services, why are they listed for only $0.60-$0.80 on vacationpointsexchange?

So, we declined, which brought about another interesting comment – that someone would be by with a form for us to sign, acknowledging we declined the offer. We've only attended a handful of presentations, but we've never been asked to sign that we declined anything. Anyway, nobody ever showed up with a form.

Am I missing something here?

P.S. Incentive for this presentation was a $375 MC gift card or 57,500 Bonvoy points... and it went on for ~ 2.5 hours.
 

jp10558

TUG Review Crew: Veteran
TUG Member
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Southern Tier NY
Resorts Owned
HGVC Seaworld
Wyndham Smoky Mountains
Foxrun Lake Lure
It's all got to be lies - the HOAs cannot fix certain people's MF increases - I don't think it's even allowed in the contracts. That said, while I didn't love my Seaworld HGVC going up 9% this year because of the Florida reserve calculations, it wasn't a catastrophic rise like some predicted of over 20%. I guess I don't know if the Florida stuff will require more hikes just for it or if the "catch up" is now done (I hope the latter of course). And I think all the rental stuff is also made up crap.

2.5 hours seems long to me, but $375 gift card seems higher than I have normally seen.
 

Fasttr

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Marriott's Grande Ocean (Enrolled)
MVC Trust Points

claraj

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Big Apple
Resorts Owned
Marriott Grande Vista, Marriott Los Suenos
It's quite incredible.
 

goodbadugly

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This cr_p needs to stop! This is broaching on fraud. The management needs to be fired.
 

Hindsite

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I've been asked to sign to say I've declined an offer, so it does happen, not very often, but it can happen..

The rest is lies and very bizarre, well worth complaining about, if you are minded to.
 

goodbadugly

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Does the document you sign detail the offer? I'd love to share it with the MVC Board.
 

daviator

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Resorts Owned
WKORV, WKORVN, WDW, Westin FLEX, Marriott's MOC, Abound (Trust) Points
What balderdash. MVC doesn't have any legal ability to shield one class of owners from MF increases (and if they did, that would be incredibly unfair, it would essentially double the reserve requirements for those in lower tiers, completely illegal and absolutely false.)

I don't know how they keep getting away with the blatant lies.
 

DanCali

TUG Member
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Sep 17, 2009
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Resorts Owned
Vistana, Marriott, DVC
They are masters at telling you what you want to hear in that moment.

For reference, I posted in an unrelated Vistana thread that we were told at a presentation at Harborside Resort that after the 17% increase in MFs last year we can expect "2%-3% in 2025 and going forward". The newly released proposed budget for 2025 shows a 19% increase...

From now on, if it sounds too goo to be true, I'm going to ask them permission to start recording the conversation and see how that goes..
 

r-travel

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Was curious to see what the doc would say, but one was never provided.
 

davidvel

TUG Member
Joined
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Messages
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Location
No. Cty. San Diego
Resorts Owned
Marriott Shadow Ridge (Villages)
Carlsbad Inn
I cannot believe I am saying this, but these must be the most fraudulent statements from a MVC salesperson I've read about here. I mean it is up to the level of the 4th grade president candidate telling their peers that if elected all homework will be eliminated, PE will be half the day, and soda will be in all water fountains.
 

cubigbird

Tug Review Crew Veteran
TUG Member
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Location
Western US
Resorts Owned
Westin Lagunamar, Westin Kierland X2, Westin St John-Sunset Bay X2, Westin Desert Willow, Westin Aventuras
I cannot believe I am saying this, but these must be the most fraudulent statements from a MVC salesperson I've read about here. I mean it is up to the level of the 4th grade president candidate telling their peers that if elected all homework will be eliminated, PE will be half the day, and soda will be in all water fountains.
2.5K points owner here - and had an interesting presentation this week at MVO. The pitch was essentially an offer to double our portfolio as a way to save on total costs over the next 10 years. They explained that maintenance fees for points owners are projected to increase significantly, averaging over 15% per year, due to new mandatory reserve requirements in Florida, as outlined in bill SB4D. However, they mentioned that Marriott would not be passing the reserves funding on to Select and higher owners, so anyone with 4,000+ points could expect their increases to be stabilized between 0.5% and 1.0% per year. According to them, our total fees are projected to be around $60K over 10 years, but this would decrease to approximately $42K if we doubled our portfolio. To do so, we’d need to purchase the points at around $15 per point (totaling $37.5K).

The second part of the pitch suggested that it wouldn’t matter if we didn’t use all the points, as Select and higher owners can rent out any points they don’t plan to use (via Owner Services) and expect to earn at least $2 per point, possibly as much as $3 per point, with a minimum guarantee of $2. Said they typically rent out within 30-45 days. Based on this, they claimed we could rent out half our points and make back $50K, meaning an upgrade to a 5K portfolio could potentially net us around $30K in savings over 10 years.

I'm not a frequent poster here, but I’ve read enough to feel that if this were true, someone would have mentioned it by now. I did some back-of-the-envelope calculations and concluded that, if the claims were accurate, by 2035, owners with fewer than 4,000 points would see fees approaching $3.60+ per point per year, while Select and higher owners would still be under $0.90 per point. This scenario seemed unrealistic. Additionally, if points can fetch $2+ when rented through Owner Services, why are they listed for only $0.60-$0.80 on vacationpointsexchange?

So, we declined, which brought about another interesting comment – that someone would be by with a form for us to sign, acknowledging we declined the offer. We've only attended a handful of presentations, but we've never been asked to sign that we declined anything. Anyway, nobody ever showed up with a form.

Am I missing something here?

P.S. Incentive for this presentation was a $375 MC gift card or 57,500 Bonvoy points... and it went on for ~ 2.5 hours.
If timeshare sales people are required to have a real estate license how does this misrepresentation pass? You can’t mislead people like this. This should get regulators interested….
 

Hindsite

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If timeshare sales people are required to have a real estate license how does this misrepresentation pass? You can’t mislead people like this. This should get regulators interested….
Only the closers need the licence as they deal with the contracting.
 

daviator

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Only the closers need the licence as they deal with the contracting.
Correct. And, at least in my experience, the closers are never the ones telling the lies.
 

davidvel

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Marriott Shadow Ridge (Villages)
Carlsbad Inn
Only the closers need the licence as they deal with the contracting.
Are you sure? In real estate, any negotiations of any kind must be performed by licensed agents. The sales person's efforts are clearly negotiations as agent for the seller.
 

dougp26364

TUG Review Crew: Expert
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Marriott Grand Chateau
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Marriott Ocean Pointe
Marriott Destination Club Points
Hilton Grand Vacation Club Las Vegas Blvd
Grand Colorado on Peak 8
Spinnaker French Quarter Resort Branson
For whatever reason, when I read this thread I’m reminded of the scene in The Princess Bride where Wesley has placed the iocain poweder in a glass and the Sicilian is attempting to divine which glass the poison is in. The line where Wesley says ‘truly you have a dizzying intellect” and the Sicilian answers, “Just wait until I get going” is so reminiscent of sitting in a timeshare sales presentation.
 

Hindsite

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Are you sure? In real estate, any negotiations of any kind must be performed by licensed agents. The sales person's efforts are clearly negotiations as agent for the seller.
That is my understanding and experience, feel free to verify at your next encounter and let us know.
 
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Marriott grand vista
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Canyon villas
Report them to customer advocacy. I know @LeslieDet has been in communications with mvc about these liars
 

cubigbird

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Report them to customer advocacy. I know @LeslieDet has been in communications with mvc about these liars
The only other option might be to make reports to regulators to get them interested. If low level sales aren’t currently required to be licensed but are still negotiating real estate (in bad faith with lies), then these kinds or reports could force changes and licensing. Not that it would fix the lies, but it would certainly add a layer of accountability if there’s a threat of loss of a license.
 

Dean

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I've been asked to sign to say I've declined an offer, so it does happen, not very often, but it can happen..

The rest is lies and very bizarre, well worth complaining about, if you are minded to.
It's simply an intimidation tactic, an attempt to create a sense of urgency.
 
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