WorldMark "selling" booked space twice?

[observer]

Worldmark allows cancellations and credit refunds if done by the "cancellation date". In years past, if you missed the cancel deadline you lost your credits (which was fair) UNLESS that same time was booked by someone else. When someone else booked the dates you cancelled, you would get a credit refund for the dates they used once that person checked in. Now WM is keeping the credits lost by missing cancel deadline AND receiving (and keeping) credits from anyone who books the dates you cancelled.... so, in essence they are selling that time twice (keeping both parties' credits). Is that even legal? It seems wrong on any level....

 

[VacationForever]

They made this change a year or two ago. Right now if you cannot use the booked dates and you are past the cancellation deadline, then just do not cancel so that they cannot profit off your forfeited points. It is legal because they dictate the rules. Wrong? Absolutely!

 

[CO skier]

They made this change a year or two ago.

The change was effective August 5, 2020 -- ancient history at this point.

Right now if you cannot use the booked dates and you are past the cancellation deadline, then just do not cancel so that they cannot profit off your forfeited points.

While this thought would have the effect of “sticking it to the man” and preventing Wyndham from profiting from your canceled reservation, it would also have follow on effects of reducing potential short term availability for fellow owners as well as the rental income. I’m not sure they make that much on last call rentals anyway. IMHO, its not a particularly beneficial act to anyone to delay cancellation in order to reduce the value of the reservation; instead it’s somewhat antisocial whether or not there is a means in place to mitigate the loss of value to the owner.

New WM policy on cancellations

I read last night that WM is no longer going to refund credits if the unit gets booked but you have cancelled past your cancellation date. This would also be a major cash grab for Wyndham as most reservations have to be cancelled a month in advance and a lot can happen in a month. Has anyone...

tugbbs.com

I agree with this thinking from 2020. The cancelled reservations return to open inventory for other owners to book using their credits. Wyndham does not make any money off of this.

 

[Floridaman76]

They made this change a year or two ago. Right now if you cannot use the booked dates and you are past the cancellation deadline, then just do not cancel so that they cannot profit off your forfeited points. It is legal because they dictate the rules. Wrong? Absolutely!

You make it sound like Wyndham is selling the space you cancelled for cash and profiting off of it. That's not the case. All that is happening is the space is being made available to other owners which can use it. You already paid for your points, and maintenance fees, so Wyndham has already profited off of you. Wyndham makes the same amount of money if every unit is full or every unit is empty.

 

[VacationForever]

You make it sound like Wyndham is selling the space you cancelled for cash and profiting off of it. That's not the case. All that is happening is the space is being made available to other owners which can use it. You already paid for your points, and maintenance fees, so Wyndham has already profited off of you. Wyndham makes the same amount of money if every unit is full or every unit is empty.

Actually, owners can book at other resorts, which use up space at other resorts.

 

[mountainboy]

The change was effective August 5, 2020 -- ancient history at this point.

New WM policy on cancellations

I read last night that WM is no longer going to refund credits if the unit gets booked but you have cancelled past your cancellation date. This would also be a major cash grab for Wyndham as most reservations have to be cancelled a month in advance and a lot can happen in a month. Has anyone...

tugbbs.com

I agree with this thinking from 2020. The cancelled reservations return to open inventory for other owners to book using their credits. Wyndham does not make any money off of this.

+ available to sell for rentals via ExtraHolidays, AFVC & RCI last calls/getaways etc.

Agree with you @CO skier , that folks SHOULD cancel, if they are not using their reservation, so others can make precious memories with their loved ones & are able to use those resorts with their MFs/HKs...

 

[dioxide45]

You make it sound like Wyndham is selling the space you cancelled for cash and profiting off of it. That's not the case. All that is happening is the space is being made available to other owners which can use it. You already paid for your points, and maintenance fees, so Wyndham has already profited off of you. Wyndham makes the same amount of money if every unit is full or every unit is empty.

But this practice leaves slack in other areas of the system. When that inventory isn't reserved at a certain period of time prior to checkin, then they can take it and do rent it out for cash. Can Wyndham not claim all unreserved inventory inside a certain date to rent for cash, marketing, or open season type rates? If so, does that not mean the cancelled reservation could be gobbled up by Wyndham for their own use?

 

[CO skier]

Can Wyndham not claim all unreserved inventory inside a certain date to rent for cash, marketing, or open season type rates? If so, does that not mean the cancelled reservation could be gobbled up by Wyndham for their own use?

Owner waitlists gobble up cancellations until 14 days before arrival, then the cancellations return to open inventory.

14 days is little enough time to find renters; it is highly doubtful Wyndham bothers with claiming even the "good stuff" in this timeframe.