Wow! Marriott buys into Atlantis Resort! [split from other thread]

[SueDonJ]

Another wrinkle is that the Atlantis hotels are now under the Marriott, Int'l. umbrella, which is a separate company from the timeshare developer/manager, Marriott Vacations Worldwide Corp. Effectively, Marriott timeshares have the same relationship to MI as the majority of Marriott hotels do - they pay an annual fee for the rights to use the name and share some IT services.

A management change at Harbourside from Starwood to Marriott wouldn't surprise me (no timeshare management change would,) but it's not something I'd expect simply because of the new relationship between Atlantis and MI. If it never happens it's still a good thing for the Marriott timeshare owners that we now have Atlantis options through the Marriott Rewards and MVW Destination Club programs.

 

[tschwa2]

Harborside and Atlantis have separate ownership, and management. Marriott is managing Atlantis as a hotel - not a timeshare.

Harborside is managed by Starwood, in theory, at the direction of the timeshare owners as represented by the Harborside board of directors.

My understanding is Marriott will not even be managing Atlantis. They simply lent a bunch of money and in return, part of the deal allows them to add it to their "autograph collection" so Marriott rewards members can earn and redeem rewards points for stays at Atlantis (minus Harborside).

George Markantonis, the resort’s president and managing director, said Atlantis would benefit from the wide reach of Marriott’s loyalty program, which has 45 million members.

Even with a quarter of the resort’s business coming from groups, Markantonis said he sees potential for growth in that area as well.

“There are amazing group and convention facilities which I think we will be able to expose to a broader market thanks to [Marriott’s] reach,” he said.

Wednesday’s news follows an earlier announcement that the resort had completed a $1.95 billion recapitalization, which included a $195 million infusion from owner Brookfield Asset Management as well as $1.75 billion from a group of other lenders. Marriott provided a $100 million mezzanine loan as part of the package.

Brookfield also announced that it had established a new management company, Brookfield Hospitality, to replace Kerzner International, which has a contract to manage the resort through Sept. 9.

Read more here: http://www.miamiherald.com/news/business/article1973897.html#storylink=cpy

 

[SueDonJ]

... Are there any units, elsewhere in the Marriott loyalty system, where units available with points are owned by individuals? I'm thinking anything like Cottages at The Greenbrier, that are owned by people but rented nightly like a hotel room through the resort.

Eeeesh. This is the kind of question that makes you think for days on end.

I can't think of any except the Ritz-Carlton Residence Clubs and, maybe, the Renaissance property in Aruba. I believe owners are able to rent those for a cash return through MI and/or MVW, on a different basis than the rental program available to timeshare Weeks owners through MVW.

It might be possible with any of the "boutique" hotel properties that MI lumps together in their "Lifestyle Collection" if whole/fractional ownership is possible with any of those.

 

[DeniseM]

My understanding is Marriott will not even be managing Atlantis. They simply lent a bunch of money and in return, part of the deal allows them to add it to their "autograph collection" so Marriott rewards members can earn and redeem rewards points for stays at Atlantis (minus Harborside).

Thanks for the correction - I mis-spoke.

 

[Weimaraner]

Just received my email today from Marriott Rewards sharing the news about earning MR points for a stay at Atlantis and using points toward a stay. It says to call to book with points. Also this promotion:
Rates from $99 + Kids Eat Free
For a limited time, stay at Atlantis starting from only $99 per night in the Beach Tower – and kids eat breakfast and dinner free – if you book by November 18, 2014. To earn points for your stay*, include your Marriott Rewards® number when you book.

 

[Beaglemom3]

Got this offer as you may have, too.


Whoopsie. TMI. Deleted

It's the $99 and up offer from Marriott for an Atlantis stay. Must book by Nov. 18th.

Check your emails.



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[mariawolf]

What will be interesting is how easy it will be to book with Marriott points--right now you have to call and can't do it online. Will they limit the numbers of "point" rooms similar to airlines and frequent flyer miles. Also whether if you are are a Platinum member will you get special benefits and upgrades--my son is Marriott platinum so will see what happens if he tries to book.