SueDonJ
Moderator
- Joined
- Jul 26, 2006
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- Massachusetts and Hilton Head Island
- Resorts Owned
- Marriott Barony Beach and SurfWatch
I simply don't think that MVW should be criticized for the amount of money that they do make available for buyback offers, when the fact that they offer a buyback service at all isn't something that any owners or buyers have a right to expect. Granted, the buyback system as it works now isn't as lucrative for owners as the system that was in effect fifteen years ago, but it's light years ahead of the system that was in effect five years ago.
I don't know if I'm saying this correctly because I don't mean to make light of or belittle owners who find themselves in desperate situations. I understand that the entire industry is forced to re-invent itself on a regular basis as existing owners reach a point where they want/need to relieve themselves of the ongoing MF's financial burden. But I don't know why we owners don't accept at least some of the responsibility for the dismal resale market returns, when we're the ones who drive the market. Why is all of the criticism directed at the developers/managers - who suffer no legal imperatives to institute or support a resale market - yet none of it is directed at the buyers/sellers who actually form the market?
Think like a shareholder for a minute - if there's any group that has a right to question how MVW justifies its buyback actions, it's them. They can rightly claim that MVW's buyback allowances are funds that could instead be re-invested in the company. The only reason it's continuing is because MVW is re-investing the inventory it's getting from buybacks to fuel the DC Trust and/or encourage sales of the Weeks/Points bundle packages. As soon as that inventory isn't needed for those purposes we can bet that the buyback activity will slow to a crawl, and then we'll be nostalgic for these good old days.
I don't know if I'm saying this correctly because I don't mean to make light of or belittle owners who find themselves in desperate situations. I understand that the entire industry is forced to re-invent itself on a regular basis as existing owners reach a point where they want/need to relieve themselves of the ongoing MF's financial burden. But I don't know why we owners don't accept at least some of the responsibility for the dismal resale market returns, when we're the ones who drive the market. Why is all of the criticism directed at the developers/managers - who suffer no legal imperatives to institute or support a resale market - yet none of it is directed at the buyers/sellers who actually form the market?
Think like a shareholder for a minute - if there's any group that has a right to question how MVW justifies its buyback actions, it's them. They can rightly claim that MVW's buyback allowances are funds that could instead be re-invested in the company. The only reason it's continuing is because MVW is re-investing the inventory it's getting from buybacks to fuel the DC Trust and/or encourage sales of the Weeks/Points bundle packages. As soon as that inventory isn't needed for those purposes we can bet that the buyback activity will slow to a crawl, and then we'll be nostalgic for these good old days.