WMH owner update and HRA abound points and buyback

[LobsterHunter]

Staying at WMH and went to the owner's update at Marriott Shadowridge. They offered us a148,100 Westin Flex for $67k with 296,200 SO as a "bonus", and they would retro in our 6 HRA resale properties. Looks like HRA should be in the system before too long, as they have already assigned abound points to them, our summer 2br L/O 95,700 units would be (if retro'd) worth 3,325 abound points and our 2br L/O 148,100 HRA units would be worth 4,525 abound points. Those points were listed on our print out of what we owned, so I know she wasn't making them up. I don't own WRF, but asked if that had been assigned abound points yet, and the answer was "no". I don't question the abound point assignment, but I do have a question on the buyback options they presented.

She told me that Marriott currently has 3 different exit/buyback options (HRA is not an option currently, but "it should be after it is actually in the Marriott system"):
1) Give the unit back and walk away.
2) Marriott will buy the unit and give you a minimal amount, and
3) Marriott will "list" your unit with your unit with their sales people, and when/if it sells they will give you 1/2 of the sales price, but this option could take 6 months or more.

My question is; I understand options 1 & 2 exist currently from their buyback/exit program. I have never heard of option 3. Is there a way to verify if option 3 really exists, or is this just another sales tactic/lie? Should I just call the Marriott exit phone number to verify if option 3 exists?

 

[echino]

4,525 is a very small amount for 148,100 HRA. Better use StarOptions. For example, booking WKORV in high season 2br ocean view requires 148,100 StarOptions or 7,400 Abound points.

4,525 vs 7,400 is extreme ripoff.

 

[LobsterHunter]

Agreed. Even the WF with about the same MF as HRA only converts to something like 5,200 abound points. I haven't found any reason to convert any of my other existing ownerships into abound, but that's just me, YMMV. My only real question was about option #3. I know it would be a gamble, but if it really exists and eventually HRA is eligible, it would allow me to exit HRA at a huge profit, and more then pay for the WF purchase.

 

[Red elephant]

4,525 is a very small amount for 148,100 HRA. Better use StarOptions. For example, booking WKORV in high season 2br ocean view requires 148,100 StarOptions or 7,400 Abound points.

4,525 vs 7,400 is extreme ripoff.

That’s what happened with Platinum Kierland. They told me my 67100 platinum HRA was 2225 abound points.

 

[tschwa2]

Shouldn't all the HRA's be worth those amounts even without retro- ing because they are SVN and purchased prior to whatever the cut off date was. All other mandatory SVN were automatically included, no retro needed.

 

[LobsterHunter]

Shouldn't all the HRA's be worth those amounts even without retro- ing because they are SVN and purchased prior to whatever the cut off date was. All other mandatory SVN were automatically included, no retro needed.

Excellent question, and I don't know. All of my other weeks were Dev purchased &/or retro'd prior to the cutoff date, so I didn't have any mandatory weeks at the cutoff date. If they now assign abound points to a mandatory resort after the merger does that mean there is no benefit to retro'ing those resale units?

 

[LobsterHunter]

So after using my google friend, it looks like our resale HRA units should end up with abound points regardless, since they were in VSN prior to the cut off date. So back to my main question. Has anyone heard of the option #3 sale option for sales through Marriott?

 

[Venter]

So after using my google friend, it looks like our resale HRA units should end up with abound points regardless, since they were in VSN prior to the cut off date. So back to my main question. Has anyone heard of the option #3 sale option for sales through Marriott?

In the early years #3 was an option for owners with more desirable weeks. You had to go on a waitlist and they used to sell those weeks as a last ditch attempt when prospective buyers did not bite. After 2010 they wound down the program and I have not read about anybody selling there week this way in a year or two (maybe even more). There used to be a direct link to the resale department and a direct phone number to contact.

I think the Spain weeks are sold this way because we got an email once asking owners to register their interest to have their weeks sold this way. You also had to go on a waitlist. I registered but never heard back.

 

[tschwa2]

Marriott does offer such a thing as #3 for their members. It can take a year just to get on the wait list as they only accept a few of any resort with all the variables. Once on the wait list, they keep you on the list for a year and if it doesn't sell you would be back at step one. My guess is there are hundreds if not thousands of HRA members that would love to get on that list. Heck I think there are hundreds if not thousands who just want a deed back and don't want any money in return. Marriott is interested in selling trust weeks and/or flex points not deeded weeks. HRA doesn't have a particularly good DP or SO per MF ratio so it isn't as though it would be easy or in Marriott's best interest to push for weeks sales at HRA. The MF's ratio has to be better than trust points to make it desirable for those that understand resales and retro-ing.

 

[jabberwocky]

In the early years #3 was an option for owners with more desirable weeks. You had to go on a waitlist and they used to sell those weeks as a last ditch attempt when prospective buyers did not bite. After 2010 they wound down the program and I have not read about anybody selling there week this way in a year or two (maybe even more). There used to be a direct link to the resale department and a direct phone number to contact.

I think the Spain weeks are sold this way because we got an email once asking owners to register their interest to have their weeks sold this way. You also had to go on a waitlist. I registered but never heard back.

Registering your interest to get added to a waitlist almost sounds like trying to buy a Rolex.

Who knew selling a timeshare would be so exclusive!

 

[DanCali]

Staying at WMH and went to the owner's update at Marriott Shadowridge. They offered us a148,100 Westin Flex for $67k with 296,200 SO as a "bonus", and they would retro in our 6 HRA resale properties. Looks like HRA should be in the system before too long, as they have already assigned abound points to them, our summer 2br L/O 95,700 units would be (if retro'd) worth 3,325 abound points and our 2br L/O 148,100 HRA units would be worth 4,525 abound points. Those points were listed on our print out of what we owned, so I know she wasn't making them up. I don't own WRF, but asked if that had been assigned abound points yet, and the answer was "no". I don't question the abound point assignment, but I do have a question on the buyback options they presented.

As pointed out, if you've owned these for some time, you do not need to retro to play in Abound. They already said those weeks will be included in Abound once they allocated points for those weeks and resolve outstanding integration issues. They were trying to get you to buy something you don't need. And if you will be in Abound, you will be at Charman level with those 6 HRA weeks. Unfortunately, MVC took away the 5-Star Elite status, so they can no longer entice owners with late checkouts, early checkins, and December 31 banking. Oh well...

Last summer I posted my best (educated) guess to what HRA weeks will be worth in abound in this post:

CLOSED: Thread Dedicated to the Upcoming/Anticipated Integration of Vistana & Marriott Ownerships (Marriott Link + Vistana Discussion)

I logged in today, and don't see anything different on my reservations or on what I own.

tugbbs.com

My guess for the Platinum 2BR lockoff was 4428 (you reported 4525, so I was off by 2.2%) and for the Gold 2BR lockoff 3295 (you reported 3325, so I was off by less than 1%). There is a method to how they do this, and it's described in that post. If I were an HRA owner, and I am, I would not put my weeks in Abound. It'd leaving too much value on the table.

 

[LobsterHunter]

Thank you all for the replies. I thought I was pretty well versed in all things Vistana, but definitely not with anything MVC. We were almost thinking the $67k might do us some good, but OBVIOUSLY NOT. @DanCali, we would never put HRA in Abound either as we make too much renting them out, but she made it sound like that was the only way to get them into Abound (which they will go into anyway, apparently) and be able to take advantage of option #3, which would in theory pay for the $67k purchase price + a big profit from what we paid resale (which was almost nothing).