Thread Dedicated to the Upcoming/Anticipated Integration of Vistana and Marriott Ownerships

[Fasttr]

Heard from a MGV pitchman via a virtual pitch that June 28th is the date for the new merged system to be kicked off. Take that for what it’s worth, considering the source, but it was a random enough date that I figured I would toss it out there.

 

[Marriottsrule]

Heard from a MGV pitchman via a virtual pitch that June 28th is the date for the new merged system to be kicked off. Take that for what it’s worth, considering the source, but it was a random enough date that I figured I would toss it out there.

3/14

 

[CPNY]

3/14

Interesting. Care to divulge more? Unless of course you’re a Marriott mole and you’re here to stir the pot? Either way I’d be surprised since during the 4Q earnings call they said more would be announced in June

 

[JIMinNC]

Either way I’d be surprised since during the 4Q earnings call they said more would be announced in June

Technically, they didn't say more would be "announced" in June. Here is the exact quote:

• "We also have a lot of new things we've been working on to grow our business long term, which we will discuss in more detail during our June 17 Investor Day. From launching a new unified product combining our Westin, Marriott, and Sheraton branded products into one new offering, to investing to provide more personalized experiences for our customer, to using data analytics in new and exciting ways to further enhance our business, we are in a great position to grow our company this year, and for many years to come."

They said they would discuss some of the new things they've been working on, one of which was the unified product. That doesn't mean that's necessarily the announcement - that's when they will discuss how their new initiatives will help them grow their business. So, they still could publicly announce the program before that Investor Day, and then during that June presentation, provide Wall Street with more color on how they think that new program will impact their business strategically. Of course, they could also choose to announce it that day, or they could talk more about it but say the program details won't be rolled out until some future date.

Wall Street analysts are more interested in management's discussion of how new products and new programs will impact sales, expenses, earnings, etc. rather than the details of how the program will work for owners. So, I actually wouldn't expect that June 17 presentation to include the kind of details we are interested in. I would expect those details will come either before or after that day.

 

[CPNY]

Technically, they didn't say more would be "announced" in June. Here is the exact quote:

• "We also have a lot of new things we've been working on to grow our business long term, which we will discuss in more detail during our June 17 Investor Day. From launching a new unified product combining our Westin, Marriott, and Sheraton branded products into one new offering, to investing to provide more personalized experiences for our customer, to using data analytics in new and exciting ways to further enhance our business, we are in a great position to grow our company this year, and for many years to come."

They said they would discuss some of the new things they've been working on, one of which was the unified product. That doesn't mean that's necessarily the announcement - that's when they will discuss how their new initiatives will help them grow their business. So, they still could publicly announce the program before that Investor Day, and then during that June presentation, provide Wall Street with more color on how they think that new program will impact their business strategically. Of course, they could also choose to announce it that day, or they could talk more about it but say the program details won't be rolled out until some future date.

Wall Street analysts are more interested in management's discussion of how new products and new programs will impact sales, expenses, earnings, etc. rather than the details of how the program will work for owners. So, I actually wouldn't expect that June 17 presentation to include the kind of details we are interested in. I would expect those details will come either before or after that day.

True, not an announcement but more info on it.

 

[rthib]

3/14

Pi Day

 

[Ken555]

Interesting. Care to divulge more? Unless of course you’re a Marriott mole and you’re here to stir the pot? Either way I’d be surprised since during the 4Q earnings call they said more would be announced in June

Gotta luv a new member with name “Marriottsrule” leaving an incomplete post, eh? One post, since that’s all he’s ever posted on TUG. Guess this guy is impartial.


Sent from my iPad using Tapatalk

 

[dougp26364]

Opps

 

[Dean]

Gotta luv a new member with name “Marriottsrule” leaving an incomplete post, eh? One post, since that’s all he’s ever posted on TUG. Guess this guy is impartial.


Sent from my iPad using Tapatalk

Sales?

 

[rthib]

Interesting. Care to divulge more? Unless of course you’re a Marriott mole and you’re here to stir the pot? Either way I’d be surprised since during the 4Q earnings call they said more would be announced in June

I didn't interpret that as June was the date, but that they would have more information for investors by that date.
Which either means it will be implemented before then and they will give an update on initial success or that they will give another update on what plans are and a date then.

 

[CPNY]

I didn't interpret that as June was the date, but that they would have more information for investors by that date.
Which either means it will be implemented before then and they will give an update on initial success or that they will give another update on what plans are and a date then.

I misspoke. Either way it will be good for the investor but won’t be good for the customer. Hopefully it’s well after June.

 

[dioxide45]

I misspoke. Either way it will be good for the investor but won’t be good for the customer. Hopefully it’s well after June.

Yeah, I am sure they will be speaking to the investors about how it is good for investors. This won't be a presentation to talk about how it is good for customers.

 

[harringtsn]

FWIW, I attended a sales presentation last week at Waiohai. The sales guy said details of the integration would be announced by the end of March with implementation in June.

As an aside, he also mentioned that in a few months the Waiohai sales office would be moving temporarily down the beach to the Sheraton Kauai while they do a major remodeling of their space.

 

[pacman777]

Gotta luv a new member with name “Marriottsrule” leaving an incomplete post, eh? One post, since that’s all he’s ever posted on TUG. Guess this guy is impartial.


Sent from my iPad using Tapatalk

could be the CEO of MVC's account posting this...

 

[JIMinNC]

I misspoke. Either way it will be good for the investor but won’t be good for the customer. Hopefully it’s well after June.

Yeah, I am sure they will be speaking to the investors about how it is good for investors. This won't be a presentation to talk about how it is good for customers.

I'm both an investor in VAC and an owner/customer, so I wonder...will it be good for me or bad????

 

[SueDonJ]

Moderator Note: A number of related posts from another thread have been moved to this one, because it's the one that's cross-referenced/linked on the Vistana forum and we're trying to limit the number of related threads. Sorry if it causes some momentary confusion.

 

[rickxylon]

Just finished a presentation at Waikoloa. They said announcement would be 3/14 and they knew details but couldn’t discuss them until then.

 

[dioxide45]

So far, what I am seeing with deed conveyances to the MVC DC Trust is that Marriott dropped a bunch of inventory into the MVC Trust, all of it looks like Marriott weeks. On November 30th, Vistana added a bunch of Princeville weeks into the Westin Flex trust. So they are still up till recently independently loading each of the trusts with their own segregated inventory.

If we were looking at a March announcement and June go live, it doesn't look like we will have a single combined trust. If they were creating a new single trust, I wouldn't see them still conveying weeks to the existing trusts.

 

[rthib]

If we were looking at a March announcement and June go live, it doesn't look like we will have a single combined trust. If they were creating a new single trust, I wouldn't see them still conveying weeks to the existing trusts.

I have not seem any announcements of a combined trust. Just a system to reserve from one system to another with a common currency.

 

[JIMinNC]

So far, what I am seeing with deed conveyances to the MVC DC Trust is that Marriott dropped a bunch of inventory into the MVC Trust, all of it looks like Marriott weeks. On November 30th, Vistana added a bunch of Princeville weeks into the Westin Flex trust. So they are still up till recently independently loading each of the trusts with their own segregated inventory.

If we were looking at a March announcement and June go live, it doesn't look like we will have a single combined trust. If they were creating a new single trust, I wouldn't see them still conveying weeks to the existing trusts.

Wouldn't they have to keep feeding both trusts as long as they are still selling both DC Points and Flex plans at the different brands? Even if Flex goes away entirely with the new product (not saying it will, but hypothetically) it would seem they would have to keep funneling inventory into that trust to support sales between now and the sunset date. I'm assuming that any residual inventory left over in a trust that ultimately sunsets could be transferred later to any consolidated trust. We don't know how many months of inventory they like to keep, but the November 30 transaction you noted is still 6-7 months before the notional June go live date.

 

[dioxide45]

I have not seem any announcements of a combined trust. Just a system to reserve from one system to another with a common currency.

We haven't seen an announcement about anything other than a combined product to reserve and sell. What form it takes hasn't been announced. It was hypothesized early on that the DC program already did everything they would need it to do and all they would have to do is stop conveying deeds to the Vistana trusts (they have a lot of them) and start conveying the deeds to the DC trust that currently holds all the Marriott deeds that make up the points trust.

 

[dioxide45]

Wouldn't they have to keep feeding both trusts as long as they are still selling both DC Points and Flex plans at the different brands? Even if Flex goes away entirely with the new product (not saying it will, but hypothetically) it would seem they would have to keep funneling inventory into that trust to support sales between now and the sunset date. I'm assuming that any residual inventory left over in a trust that ultimately sunsets could be transferred later to any consolidated trust. We don't know how many months of inventory they like to keep, but the November 30 transaction you noted is still 6-7 months before the notional June go live date.

That is quite possible and it seems the conveyance to the Westin Flex trust was small but the one to Sheraton Flex spanned a lot of resorts. They could just be feeding enough in to keep the sales machine going. I don't know what possibilities exist to remove inventory from the trust to move to another trust once it has been declared. I suspect they wouldnt' do that and just sell down the existing trust until depleted. We continue to speculate...

 

[Marriottsrule]

Interesting. Care to divulge more? Unless of course you’re a Marriott mole and you’re here to stir the pot? Either way I’d be surprised since during the 4Q earnings call they said more would be announced in June

Attended virtual presentation a few days ago that’s what I was told…sounded like a strange date.

 

[SueDonJ]

We haven't seen an announcement about anything other than a combined product to reserve and sell. What form it takes hasn't been announced. It was hypothesized early on that the DC program already did everything they would need it to do and all they would have to do is stop conveying deeds to the Vistana trusts (they have a lot of them) and start conveying the deeds to the DC trust that currently holds all the Marriott deeds that make up the points trust.

My thinking has always been that the Exchange Company, not the DC Trust, was set up originally and deliberately to be the conduit through which any inventory could be manipulated. Meaning, Marriott could offer affiliation and open enrollment to any other timeshare/fractional companies/owners/members regardless of whether they come under the Marriott umbrella or not. If that's the case then Vistana members/owners could simply be DC Exchange Members like all of us Marriott enrolled Weeks Owners, defined as "affiliates." It's always seemed to me that would be the simplest of all the options to effect integration.

I'll admit, though, that all their talk during investor presentations about a combined product to sell leaves me stumped. Could there be a type of umbrella under which all DC and Flex Trusts could remain separate but with their corresponding Points sold as the same product?

 

[Sicnarf]

What I was told was they will only sell DC points going forward and all unsold Vistana inventory will be added to the DC trust. All existing Vistana developer and authorized ownerships will be able to exchange to DC based on a to-be published exchange rate. Unauthorized resale ownerships can purchase DC points to be eligible for the DC exchange like today.