Wyndham Buyback Program

[retire06]

On a recent visit to Governors Green in Williamsburg the Wyndham rep wanted to share info about a new, perhaps temporary program, they were offering to enable buybacks in case of aging owners whose families are not interested. I didn't want to use precious family vacation time to discuss this so never got good details. It is not mentioned on their website. Anyone know about this program, which I believe was called Pathways, or something similar. I should have taken notes.

 

[Rent_Share]

http://tugbbs.com/forums/search.php?searchid=6724289

 

[icydog]

That link doesn't work. Can you please reply with the information you have about a buy back from Wyndham?

 

[vacationhopeful]

Yes, it is called Pathways. Applies only to developer brought points and YOU must buy a new points package to "enable" your ownership to PERHAPS be brought back at 20% WHAT YOU PAID FOR THE POINTS....

There is NO PROMISE to buyback your points - but it is an absolute YOU MUST BUY MORE POINTS ... and your MAYBE return is 20% of the original spent money.

 

[Rent_Share]

I guess it's tied to my user ID

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Keyword(s) Pathways

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[lprstn]

Wyndham and other 'Points' resorts change the rules quite often. If you are going to purchase, do so based upon wanting to use the points to stay where you are. I've been when Wyndham since they were Fairfield and every few years they take away the extra 'benefits'.

 

[pacodemountainside]

Other considerations aside run the numbers.

Say you have paid $96K for Developer points and $20K to join Pathways or $116K less $4K closing costs leaving $112K.

$112K times 20% =$22,400 minus $2,500 MF for 5 years or you lose $100.

 

[retire06]

Thanks, Linda. That is pretty much what I understood from the conversation before I cut her off. Confirms my decision not to participate.

 

[jebloomquist]

Here's my take on Pathways.

If owners satisfy these five conditions, then they might consider the Pathways program.

1) They have paid at least $100,000 to Wyndham for developer points properties (dollars that they will never get back).

2) They are willing to spend $20,000 more for about 100,000 new annual developer points.

3) They feel that they can annually use their existing points, plus an additional 100,000 for at least five years.

4) They are willing to pay their existing maintenance fees plus those for 100,000 more points.

5) They are pretty sure that after five plus years, they will probably be selling their Wyndham holdings, and don't want the hassle of trying to sell them in the open market. They will get rid of their Wyndham holdings and get $24,000 back.

This is what I took away from the presentation to me on Pathways. I was able to negotiate the points required and the cost down to 63,000 points at $12,000, just for fun. I still didn't buy it.

I can imagine that there are owners out there who do fit these five conditions, and for them, play hard to get, and try to get Pathways for fewer points at fewer dollars.

Jim

 

[pacodemountainside]

Here's my take on Pathways.

If owners satisfy these five conditions, then they might consider the Pathways program.

1) They have paid at least $100,000 to Wyndham for developer points properties (dollars that they will never get back).

2) They are willing to spend $20,000 more for about 100,000 new annual developer points.

3) They feel that they can annually use their existing points, plus an additional 100,000 for at least five years.

4) They are willing to pay their existing maintenance fees plus those for 100,000 more points.

5) They are pretty sure that after five plus years, they will probably be selling their Wyndham holdings, and don't want the hassle of trying to sell them in the open market. They will get rid of their Wyndham holdings and get $24,000 back.

This is what I took away from the presentation to me on Pathways. I was able to negotiate the points required and the cost down to 63,000 points at $12,000, just for fun. I still didn't buy it.

I can imagine that there are owners out there who do fit these five conditions, and for them, play hard to get, and try to get Pathways for fewer points at fewer dollars.

Jim

Jim:

Was there any mention of flat $200 per deed as stated in this post from Wyndham Forum

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Re: New sales tactic: "Pathways" = 20% buyback-good or bad?

by carlkocian » Thu Jan 23, 2014 10::33 am

I heard the Pathways pitch at Smokey Mountains in early October and went for it. Among my 1.5 million points I owned 2 converted fixed weeks at Ocean Ridge and the maintenance fees and assessments were killers. At that time the waiting period was 30 days with a 20% buyback. Realistically, I couldn't give away those properties. I returned to Smokey Mountains in December and the same representative visited us for the "check-in survey" and told us of the changes in Pathways. 1-now 5 years wait and 2-flat $200per deed buyback. Over all I'm glad I bit because my maintenance fees are down a net 210.40 monthly and I will no longer be on the hook for assessments for items that should have been handled by a non-existent reserve fund. I have fewer overall points to use but I don't see that affecting my travel. I'll just have to be more diligent with cancel and rebook.

Carl Kocian