Starwood Sale

[wonder]

Are we the only ones asking? Is there no recourse? No cause of action?

Are we the only investor owners of Starwood Resorts Time Share Property that based our decision to buy because of the exclusive nature of the offering? i.e.. A Real Property Interest, coupled with the highest valued interest in use rewards of options, points and gifts providing seamless access to the use of the resort and global hotel properties.

Can Starwood offer for sale and induce the purchase of their Time Share properties, using incentives such as gifts, use options and points with certain monetary value as an integral offer,
then, without compensation or consideration separate and sell our investment?

It is our position that Starwood, with total disregard of their property owner/members interest, substantially devalue their equity interest through the sale of their hotel and resort properties to a third party.

 

[dioxide45]

I am not sure anything was devalued. The properties still have the same name now as they did before the spinoff. I don't think resale prices are lower now because of the sale. Many weeks were worth $0 to very little before and are still worth that now. Those that did have value really haven't lost any.

I do think the lack of II deposits has negatively impacted voluntary weeks. Those that could easily be given away in the past or even sold for a nominal amount, are hard to even give away.

 

[okwiater]

I don't understand on what basis the class action suit would allege any damages. I'm not aware of any evidence that our interest have been devalued.

 

[DeniseM]

I have seen no change in resale value since the sale to ILG.

How much did you follow the resale market in the past? It's not just Starwood/Vistana timeshares - it's the nature of the entire retail/resale timeshare market. MOST timeshares resale for 0-10% of original retail; a handful for 10-30%. It's been that way for years.

without compensation or consideration separate and sell our investment?

That's not what happened - they didn't sell the timeshare resorts.

OWNERS own the timeshares - Starwood sold the MANAGEMENT company.

 

[RuloJones]

DeniseM, are you still on?

 

[bankr63]

Isn't there a rule that first time posters shouldn't be able to create polls (can be used to their advantage)? May be another board I participate in; will have to go back and reread those rules.

Welcome to TUG @wonder, there is a lot of great information here that will help you to understand how and why timeshares are valued the way that they are. Most here would strongly recommend heavy research before purchasing; many here did just that and are very happy with what they purchased. Almost no one here consider their timeshare VOI's to be an investment. (Although I might try to charge $2 for mine when I sell it, just so I can make a 100% ROI )

 

[DeniseM]

This is a new feature on TUG and no rules have been created about polls.

Sent from my SM-T560NU using Tapatalk

 

[rickandcindy23]

The Starwood name does hold clout in the hotel industry, and the name Vistana has no prestige at all. That would be the only thing lost--the name.

I bought everything resale, and we own a lot of Sheraton Broadway Plantation. We own one SDO. The Sheraton and Westin names are still on the resorts. If they take those names away and put Vistana Broadway Plantation, I would be concerned, as would Westin owners, if suddenly the name was Vistana Ka'anapali. That would sting a bit, especially for those who bought to rent.

 

[DavidnRobin]

VSE contains both the Westin Vacation Club and the Sheraton Vacation Club - it is on the Home page

https://www.vistana.com/

They have a long-term agreement for the use of these names

The poll is incomplete and just looks like venting - not unlike the name change fee poll.
I found it odd that a poll could be added after the OP, but not necessarily by the OP.

wonder joined TUG in 2008 even though 1st post

 

[DeniseM]

Hi Dave - Since Vistana management reads this forum on a daily basis, "venting" is a very effective way to send them a message, and that was my objective with the poll, and my many updates on the topic - in addition to keeping Tuggers informed, of course. I am quite sure that Tuggers were instrumental in the roll-back of the fee.

The poll was at the top of the thread that you started, because it is TUG policy to keep info. on a specific topic in one thread, for continuity, but in the future, I will not post polls at the top of threads that you start.

BTW - the poll at the top of this thread is complete and active - anyone can vote.

 

[dioxide45]

VSE contains both the Westin Vacation Club and the Sheraton Vacation Club - it is on the Home page

https://www.vistana.com/

They have a long-term agreement for the use of these names

The poll is incomplete and just looks like venting - not unlike the name change fee poll.
I found it odd that a poll could be added after the OP, but not necessarily by the OP.

wonder joined TUG in 2008 even though 1st post

I thin only the OP can add a pool when they create their thread or it can be added after the fact by a moderator. I am not able to add polls to other threads that I didn't start.

 

[Bill4728]

IMHO, Both Westin and Sheraton have significant name value BUT for most people Starwood didn't. So being managed by ILG / Vistana vs Starwood is not a big deal