Ongoing Sales Incentive - Enrolling Post-6/20/10 Weeks [MERGED]

[hangloose]

Hopefully in future, MVC will allow a resale enrollment without a DC Pts purchase. Perhaps $5k enrollment per week, lower per week with multiple weeks? Unless you have weeks with very high DC Pts, I bet most will not pay more than $5k max per week just to 'enroll'. It's immediate profit for MVC, but could probably impact some DC Pts purchases from these same owners. (Why purchase pricey DC Pts, if I can enroll my legacy week at a lower cost and use those pts to exchange). However, given their continued positive earnings....it appears many are still buying DC Pts packages. So, until the economy turns or DC Pts purchasing (or MVC revenue) declines...I'm not sure I foresee this enroll only option happening in the near term. Maybe at 10 yr anniversary of DC Pts introduction, which is still a couple years out? By that time..pts will be $15+/pt..yikes.

 

[kds4]

Why would anyone want to enroll their weeks and not want to keep the points they purchased? The only scenario I can think of is if you have enough points for Chairman's level and that makes you happy! (and you dont need or want all the superfluous points--- and don't want to pay yearly fees for them)

Exactly what I think the original posters of this thought process were thinking. I don't think there are many that will be in this situation, but it is an option I had not considered (were I ever in such a position with Chairman level points using just weeks and I didn't need to own 'extra' points or want to pay the MFs for them).

 

[hangloose]

Why would anyone want to enroll their weeks and not want to keep the points they purchased? The only scenario I can think of is if you have enough points for Chairman's level and that makes you happy! (and you dont need or want all the superfluous points--- and don't want to pay yearly fees for them)

It is an interesting scenario I also never thought of. Purchase a DC Pts package in the latest incentive which allows legacy week enrollment, but then sell the DC Pts at a financial loss. The goal I imagine would be to gain enrollment for prime high value legacy weeks worth a large # of DC Pts. That would allow the owner to use them in the DC Pts program (gaining flexibility associated that standard weeks don't provide) plus access to new DC Pts only resorts (Bali, etc). Or they may want to gain access to a higher DC Pts tier (Chairman's Level as example). Interesting, but I bet there are very few who would do this given the immediate financial loss. It's just not worth it IMO. As StevenT commented, even with his two 3BR Maui weeks (10,225 DC Pts each) it still isn't worth the cost to him in this example. While, I certainly do bet that MVC may like to have those creme of the crop weeks in the DC Pts program.

 

[mjm1]

It is an interesting scenario I also never thought of. Purchase a DC Pts package in the latest incentive which allows legacy week enrollment, but then sell the DC Pts at a financial loss. The goal I imagine would be to gain enrollment for prime high value legacy weeks worth a large # of DC Pts. That would allow the owner to use them in the DC Pts program (gaining flexibility associated that standard weeks don't provide) plus access to new DC Pts only resorts (Bali, etc). Or they may want to gain access to a higher DC Pts tier (Chairman's Level as example). Interesting, but I bet there are very few who would do this given the immediate financial loss. It's just not worth it IMO. As StevenT commented, even with his two 3BR Maui weeks (10,225 DC Pts each) it still isn't worth the cost to him in this example. While, I certainly do bet that MVC may like to have those creme of the crop weeks in the DC Pts program.

I have been thinking along the same lines, but the net out of pocket would be at least $20k. While attaining a higher level and the incremental benefits would be nice, the cash outlay wouldn't make sense for us.

 

[SueDonJ]

Has anyone successfully done this, purchased DC Points specifically via one of these offers in order to enroll "ineligible" Weeks, and then resold the Points without negating the entire offer? Aside from the cost (tens of thousands!) concern, I'd be concerned that MVW would consider the enrollment null and void once the Points were no longer in the Owner's account.

 

[catharsis]

SueDonJ that possibility never even crossed my mind.

To me it's no different than buying points "just' for the MR Point incentive and then selling them ... I do not think Marriott have any right to encumber these points once they are paid for(nor can I see why they care once paid full freight for points)

Sent from my Pixel XL using Tapatalk

 

[SueDonJ]

SueDonJ that possibility never even crossed my mind.

To me it's no different than buying points "just' for the MR Point incentive and then selling them ... I do not think Marriott have any right to encumber these points once they are paid for(nor can I see why they care once paid full freight for points)

Sent from my Pixel XL using Tapatalk

I honestly don't know the answer and can see MVW letting it go, but we're talking about this as a backdoor option to enroll Weeks that are otherwise not eligible. If we're talking about it in those terms then IMO there's no doubt that MVW has also considered it.

 

[mjm1]

Has anyone successfully done this, purchased DC Points specifically via one of these offers in order to enroll "ineligible" Weeks, and then resold the Points without negating the entire offer? Aside from the cost (tens of thousands!) concern, I'd be concerned that MVW would consider the enrollment null and void once the Points were no longer in the Owner's account.

I don't think they would care. They make a big profit on the sale and if the resale price is low enough they could exercise ROFR and sell them again. Seems like a win-win for them.

Mike

 

[tschwa2]

Unless the enrollment contract specifies that you must keep the points to retain enrollment which I doubt it does than it shouldn't be a problem.

 

[ljmiii]

Has anyone successfully done this, purchased DC Points specifically via one of these offers in order to enroll "ineligible" Weeks, and then resold the Points without negating the entire offer? Aside from the cost (tens of thousands!) concern, I'd be concerned that MVW would consider the enrollment null and void once the Points were no longer in the Owner's account.

The only requirement for enrollment of the post-2010 week is that you execute the purchase of the points contract. And to keep it/them enrolled your resort has to continue to participate in the DP program, you have to pay your maintenance fees, etc. etc. But nothing about continuing to own the DPs purchased (other than paying MFs on them).

But the interesting takeaway from my re-reading of the contract is that enrollment is for a 2 year stretch at a time. If you give MVCI proper notice you can theoretically unenroll your week(s). Assuming you sold your DPs as well this should allow you to back out of the annual club dues.

 

[SueDonJ]

The only requirement for enrollment of the post-2010 week is that you execute the purchase of the points contract. And to keep it/them enrolled your resort has to continue to participate in the DP program, you have to pay your maintenance fees, etc. etc. But nothing about continuing to own the DPs purchased (other than paying MFs on them).

But the interesting takeaway from my re-reading of the contract is that enrollment is for a 2 year stretch at a time. If you give MVCI proper notice you can theoretically unenroll your week(s). Assuming you sold your DPs as well this should allow you to back out of the annual club dues.

Thanks for explaining the requirements - I wasn't sure so I'm glad I asked.

If you own Enrolled Weeks and DC Points then notice is required if you want to un-enroll the Weeks, but who would give up the benefits of enrollment if they're already paying the DC Dues for Points? But if you don't own DC Points, enrollment isn't permanent and no notice is required to un-enroll because the terms in the enrollment documents stipulate that if you don't pay the DC Dues then the enrollment will automatically terminate on Dec 31 of the year following. Note if you retain ownership of the un-enrolled Week and want to re-enroll it at some point in the future, you will be subject to the eligibility rules and enrollment fees in effect then.

 

[JEPASVC]

No longer valid.

 

[Fasttr]

Could someone either post or PM me the contact info of a good honest Sales Executive who can help me get a KO week enrolled. My sale exec has moved on.

I PM'd you a recommendation.

 

[JEPASVC]

I PM'd you a recommendation.

Thank You

 

[JEPASVC]

All,

It's back again (June 1, 2017)....just got this email.....

--------------------------------

Just announced this morning that we can “enroll” post-2010 externally purchased weeks from today through September 30th. From our internal announcement – “this is a limited time, special offer to celebrate our growth of new resorts, culinary tours, resort credits and more.”

3000 Points purchase enrolls 1 week (or 2 EOYs)
4000 Points purchase enrolls 2 weeks (or up to 4 EOYs)
5500 Points purchase enrolls 3-7 weeks (or up to 14 EOYs)

• Does not apply to Ritz Carlton or Grand Residence Club ownership
• US residents/ownership only

Best,

Greg

GregT,

Cutoff date is May 15, 2017. Thanks!

Best,

Greg

Greg,

When does the "enrollment opportunity" end ? The post mentions September but the direct sales people are telling me June 29th. I'm not sure if the June date is just sales pressure or a hard date.

 

[mjm1]

GregT,



Greg,

When does the "enrollment opportunity" end ? The post mentions September but the direct sales people are telling me June 29th. I'm not sure if the June date is just sales pressure or a hard date.

I was told it ends on Sept. 30, but it has to close by then. The closing process takes 30-45 days according to the rep with whom I spoke. Not sure how accurate that is, but that's what he said.

Best regards

Mike

 

[5infam]

So I am in Maui now and went on a tour, and was surprised to see that they offered me the opportunity to enroll my weeks that just closed from private resales in the last 6 months. I guess I am behind on my TUG reading. Here is the deal they offered - I have 2 EOY even 2 bedrooms in the original towers (staying here this year on final use of an annual unit we sold to a friend). To get my weeks in (which they consider 1 week, since they are both EOY), I would need to buy 3,000 points at 13.68 a point, or $41,040. They are making a special deal, because I am so special, of reducing it down by $6,180, and then another drop because I stayed at a Marriott recently of $1,750, for a new purchase price of $33,110. That is about $11.04 a point. Closing is $810 if I pay cash or $1,192 to finance. They will also give me an extra 3,000 points (1 time) or 200,000 MRP's, and if I finance and don't pay it off for 18 months, I get another 3,000 points (1 time). I get Executive Lifetime Gold, and I get to bring in my 2 EOY weeks in for free.

For me, it is not worth it based on how I use my weeks and the price I paid on the resale market, so I politely said no. I did tell them that I would be happy to pay a fee to enroll these weeks into the program without buying points, and they both sort of sneered at me and said that will never happen. I reminded them that is what Marriott said when they said no resales after 2010 will ever make it into the points program, and here they are making me an offer to enroll my 2017 resale weeks. Never say never!

 

[SueDonJ]

So I am in Maui now and went on a tour, and was surprised to see that they offered me the opportunity to enroll my weeks that just closed from private resales in the last 6 months. I guess I am behind on my TUG reading. Here is the deal they offered - I have 2 EOY even 2 bedrooms in the original towers (staying here this year on final use of an annual unit we sold to a friend). To get my weeks in (which they consider 1 week, since they are both EOY), I would need to buy 3,000 points at 13.68 a point, or $41,040. They are making a special deal, because I am so special, of reducing it down by $6,180, and then another drop because I stayed at a Marriott recently of $1,750, for a new purchase price of $33,110. That is about $11.04 a point. Closing is $810 if I pay cash or $1,192 to finance. They will also give me an extra 3,000 points (1 time) or 200,000 MRP's, and if I finance and don't pay it off for 18 months, I get another 3,000 points (1 time). I get Executive Lifetime Gold, and I get to bring in my 2 EOY weeks in for free.

For me, it is not worth it based on how I use my weeks and the price I paid on the resale market, so I politely said no. I did tell them that I would be happy to pay a fee to enroll these weeks into the program without buying points, and they both sort of sneered at me and said that will never happen. I reminded them that is what Marriott said when they said no resales after 2010 will ever make it into the points program, and here they are making me an offer to enroll my 2017 resale weeks. Never say never!

I don't blame you for not taking the offer if it doesn't work for you, and I'm always glad when people go to sales presentations armed with the knowledge to make good decisions. But I want to point out that Marriott hasn't ever officially said, "no resales after 2010 will ever make it into the points program." Effectively yes, but not officially. They're smarter than that; they don't leave themselves open to future criticism for getting caught in a lie. What has been said officially is that there are eligibility requirements that exclude post-2010 external resales, and occasionally, like what's happening now, they temporarily suspend those requirements as an incentive for purchasing DC Points.

Maybe a sales rep or two or a hundred have made comments like, "never ...!" So what? We routinely blast sales reps and completely negate any comments they make with, "if their lips are moving they're lying!" It's funny sometimes how we conveniently give sales rep the power, or not, to be official spokespersons for the company.

Anyway, sometimes I get tired of constantly seeing Marriott portrayed as The Devil. If in the future they do officially the change the eligibility rules to allow enrollment of post-2010 resales, it'll be a welcome change. But it won't be contrary to any phantom official statements that they haven't made.

 

[darius]

This is a very informative thread, and I may have posted something previously - but I did take advantage of re qualifying my post 2010 resale weeks (by purchasing DC points) approximately 2 years ago. My family and I are still thrilled with the purchase and have not regretted the purchase one bit. It truly enhanced our ownership am so glad we took advantage of the offer when it was first available. The sales person we worked with was professional and great to work with (Thank you to Greg for the introduction your contact at Marriott!).

I'm sure that what we did isn't for everyone, but for the right circumstance it's almost a steal comparing to full retail or a points only purchase.

 

[davidvel]

The only requirement for enrollment of the post-2010 week is that you execute the purchase of the points contract. And to keep it/them enrolled your resort has to continue to participate in the DP program, you have to pay your maintenance fees, etc. etc. But nothing about continuing to own the DPs purchased (other than paying MFs on them).

But the interesting takeaway from my re-reading of the contract is that enrollment is for a 2 year stretch at a time. If you give MVCI proper notice you can theoretically unenroll your week(s). Assuming you sold your DPs as well this should allow you to back out of the annual club dues.

Along similar lines, what does the language specifically say about earning bonus points for financing?
People repeatedly post that bonus points are only earned if not paid off for at least 18 months. From this I infer that there is no pre-payment penalty, so you could pay off at any time. So could someone pay off nearly all of it the first month (reducing the interest paid over the life) and then pay the balance after 18 months?

But I don't know how this financing is structured: whether the minimum payment is calculated each month like revolving credit, or if it has a fixed amortization that they would not adjust if you did this, causing the full amount to be paid off shortly after the big payment. In any event, you could pay off leaving the balance in monthly payments for say 19 months, saving some interest expense.

(Not that I would ever recommend this, just a thought for those that already have financed for the bonus points.)

 

[SueDonJ]

Along similar lines, what does the language specifically say about earning bonus points for financing?
People repeatedly post that bonus points are only earned if not paid off for at least 18 months. From this I infer that there is no pre-payment penalty, so you could pay off at any time. So could someone pay off nearly all of it the first month (reducing the interest paid over the life) and then pay the balance after 18 months?

But I don't know how this financing is structured: whether the minimum payment is calculated each month like revolving credit, or if it has a fixed amortization that they would not adjust if you did this, causing the full amount to be paid off shortly after the big payment. In any event, you could pay off leaving the balance in monthly payments for say 19 months, saving some interest expense.

(Not that I would ever recommend this, just a thought for those that already have financed for the bonus points.)

We took advantage of the incentive when buying Weeks but back then it only required three monthly payments, not 18. We paid the first then a week or so later paid the bulk of the principal, followed by the second and third as due. Within a week or so they confirmed the pay-off amount and the MRP incentive was in our account less than a week after pay-off. You're right, though, it's important to read and understand the terms, and follow them exactly.

If I were buying Points I'd seriously consider the financing incentive, but I'm not sure it would be as advantageous now as it was for us back then. At this point in our lives we don't want to be committed to 18-mos credit lines.

 

[ljmiii]

Along similar lines, what does the language specifically say about earning bonus points for financing?

Sorry, it was a cash deal so I didn't get those pages. I CAN tell you that the language for the MRP bonus is breathtakingly simple - "Seller to award two hundred thousand (200,000) Marriott Reward Points." Since I can usually do better than a penny a point by buying a Hotel + Air package I was happy to pay the extra $2,000.

 

[5infam]

I don't blame you for not taking the offer if it doesn't work for you, and I'm always glad when people go to sales presentations armed with the knowledge to make good decisions. But I want to point out that Marriott hasn't ever officially said, "no resales after 2010 will ever make it into the points program." Effectively yes, but not officially. They're smarter than that; they don't leave themselves open to future criticism for getting caught in a lie. What has been said officially is that there are eligibility requirements that exclude post-2010 external resales, and occasionally, like what's happening now, they temporarily suspend those requirements as an incentive for purchasing DC Points.

Maybe a sales rep or two or a hundred have made comments like, "never ...!" So what? We routinely blast sales reps and completely negate any comments they make with, "if their lips are moving they're lying!" It's funny sometimes how we conveniently give sales rep the power, or not, to be official spokespersons for the company.

Anyway, sometimes I get tired of constantly seeing Marriott portrayed as The Devil. If in the future they do officially the change the eligibility rules to allow enrollment of post-2010 resales, it'll be a welcome change. But it won't be contrary to any phantom official statements that they haven't made.

Hi Sue - I did say "Marriott", whenever i should have said Sales Reps. That is what I meant, nothing official in documents or anything. But every time I do an update, they tell me the same thing, special only now, once in a lifetime, about to expire, etc. General sales tactics I ignore, just thought it was funny that I was told never for many years and now they are offering.

 

[catharsis]

Interesting new(?) option

This may have been reported on before, but I was offered the option of buying a Plat Plus St Kitts premium week at developer prices (6,350 pts @ 30-ish cents per point MF's) of $60K or so, and in addition they would enrol up to 7 pre-May 15 2017 resale weeks.

I may still not jump on this as I closed on a few weeks in April/May Jne of this year and I'd like to have those enrolled, but anyone who was thinking of buying points just to enrol their weeks might want to look at this option instead ... IMHO it's better in every specific respect.

PM me for contact details if interested, I do not want this to sound like an ad

 

[Fasttr]

Interesting new(?) option

This may have been reported on before, but I was offered the option of buying a Plat Plus St Kitts premium week at developer prices (6,350 pts @ 30-ish cents per point MF's) of $60K or so, and in addition they would enrol up to 7 pre-May 15 2017 resale weeks.

I may still not jump on this as I closed on a few weeks in April/May Jne of this year and I'd like to have those enrolled, but anyone who was thinking of buying points just to enrol their weeks might want to look at this option instead ... IMHO it's better in every specific respect.

PM me for contact details if interested, I do not want this to sound like an ad

I believe somebody did post a similar offer on an Aruba week at retail pricing that would allow enrollment of post 2010 week(s) in conjunction with this latest promotion.

Gotta give them props for their creativity.