Where does the “Trust” Own?

[Hobee]

Are there any disclosures that tell us where the the Trust owns intervals? I know some resorts are completely owned within the Trust. In other cases intervals came into the Trust by defaults, resales, ROFR, etc. I am curious to know more.

 

[Fasttr]

This was the last compilation of a full list from back in Dec 2016. I don't believe anybody has updated it since then as I'm sure is a time consuming task. https://tugbbs.com/forums/threads/recorded-trust-documents.124949/page-13#post-1949737

 

[bazzap]

In Europe, there is no Trust ownership at any of the resorts.
in Asia , there is a different but interworking set of Points ownership.
Phuket Beach Club is the only resort here with a mix of Weeks and Asia Pacific Points ownership, all other resorts here are Points only ownership.

 

[ilene13]

No trust in Aruba weeks only

 

[bazzap]

No trust in Aruba weeks only

Nor St Kitts, I believe.

 

[Fasttr]

The Trust is a U.S. Land Trust, so it can currently only own real estate in US and territories, thus not Europe, St Kitts, Aruba, etc. Also, no Boston Custom House since that is a RTU property.

 

[bazzap]

The setup in Asia Pacific, apart from Weeks ownership at Phuket Beach Club the first resort there, is
”Marriott Vacation Club, Asia-Pacific is a proprietary club (the "Singapore Club") owned by Club Resorts No. 1 Asia Pacific Pte. Ltd., ("Club Owner") which is responsible for providing its members with the right to use and enjoy the Club Resort Properties that are a part of the Singapore Club, in accordance with the Club Constitution, Disclosure Document and Club Guidelines, and other of the Club Governing Documents.”

 

[davidvel]

It's all smoke and mirrors. Club. Trust. Points. Deeded interest in land. Banking, borrowing, extend points that don't exist into the future due to COVID. Or it's a completely legitimate program with complete transparency and no overlap of usage intervals and rights.

You choose, and you'll probably be partially right.

 

[Dean]

It's all smoke and mirrors. Club. Trust. Points. Deeded interest in land. Banking, borrowing, extend points that don't exist into the future due to COVID. Or it's a completely legitimate program with complete transparency and no overlap of usage intervals and rights.

You choose, and you'll probably be partially right.

I think it's in between with a little of both though far more to the legitimate side.. With points AND floating weeks all you really have is the opportunity to make a reservation. There is the guarantee that it was there at some point but not that they have what you want and not even that a reservation is available at all using what you own if you miss part of the reservation time frame. If one delays they may indeed have no workable options and in some cases, no options available at all with either one. That's why I believe that you either need to plan well ahead or be very flexible as a minimum, it's easiest of you can do both. I've come to learn over the years that one person's flexible is not the same as another's. There is a subset of people that say they're flexible but really aren't to the degree that's required. For example, they may say they're flexible but mean they can take either week 26 OR week 27 at a beach location. Or they're tied to school calendar's or have similar restrictions. If you can be as flexible as Steve Fatula then you can really make out but most of us can't be that flexible. It ultimately comes down to understanding the system including what you are and are not getting, understanding your personal limitations and putting in the effort to make it work.

 

[davidvel]

I think it's in between with a little of both though far more to the legitimate side.. With points AND floating weeks all you really have is the opportunity to make a reservation. There is the guarantee that it was there at some point but not that they have what you want and not even that a reservation is available at all using what you own if you miss part of the reservation time frame. If one delays they may indeed have no workable options and in some cases, no options available at all with either one. That's why I believe that you either need to plan well ahead or be very flexible as a minimum, it's easiest of you can do both. I've come to learn over the years that one person's flexible is not the same as another's. There is a subset of people that say they're flexible but really aren't to the degree that's required. For example, they may say they're flexible but mean they can take either week 26 OR week 27 at a beach location. Or they're tied to school calendar's or have similar restrictions. If you can be as flexible as Steve Fatula then you can really make out but most of us can't be that flexible. It ultimately comes down to understanding the system including what you are and are not getting, understanding your personal limitations and putting in the effort to make it work.

Yes, and you bring up another point of hocus pocus. No one knows exactly how the Club acquires its inventory of weeks for itself, although there is a consensus that they do not have a cadre of workers that get up at 6am PT and either login or call in to reserve those weeks for the club like we all have to (and NO, there is no such thing as a separate bucket, they are an owner just like the rest of us under the CC&Rs).

 

[Dean]

Yes, and you bring up another point of hocus pocus. No one knows exactly how the Club acquires its inventory of weeks for itself, although there is a consensus that they do not have a cadre of workers that get up at 6am PT and either login or call in to reserve those weeks for the club like we all have to (and NO, there is no such thing as a separate bucket, they are an owner just like the rest of us under the CC&Rs).

This has been an area of interest for me and I've explored it quite a bit though not to the level of senior management. As I see it there are 4 main options. They are:

1. MVC reserves a week then makes it available to reserve with DC & Trust points.
2. MVC assigns the underlying deeded week of the owner to be reserved with points.
3. MVC assigns time that corresponds with the # of points to be reserved at a given resort within a season.
4. MVC assigns a proportionate number of weeks corresponding to the weeks given up for points plus those in the trust.

The first is impractical because it means either the points system is always behind if they do it as a single owner would or it means they can reserve ANYTHING they want at any time if they use the combined force of their control with the 13 month priority. The latter would be like owning 52 weeks at say Maui in the same villa type. Fixed weeks are unique and I assume they flow directly into points availability but I have no experience in this area.

The second likely the most fair but might be a little more difficult to administer. The fourth similar and likely the best balance of simplicity an fairness.

The third is what I've come to believe is the method for floating week resorts. As I see it this option gives points reservations a big advantage over single week owners or those who are only reserving 2 weeks at a time. It also means the points can all go after the higher demand weeks disproportionately, esp if the higher demand weeks are earlier in the season like Aruba or HHI Platinum time as an example. Obviously status plays a role.

I'm curious if anyone has additional information on this issue.