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[ 2012 ] Letter from the Ritz Carlton Destination Club

GregT

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Marriott: Maui Ocean Club Lahaina Villas (3BRx5), Ko Olina, Shadow Ridge II, Willow Ridge, Aruba Ocean Club, DC Points HGVC: Flamingo, Sea World, I-Drive, Starwood Bella (x4), SDO, TradeWinds, Worldmark
Do any of the Ritz Carlton DC owners have Cobalt Points? I stayed at St. Thomas in 2011 and they were selling Cobalt Points at the time (in 2008, they were still selling weeks).

I'm curious what the conversion rate that Marriott is offering to you -- if it is a reasonable trade (and I'm not trying to defend the difference in quality, only trying to figure out if Marriott at least offered a ton of points in trade for your Cobalt Points).

I think 4,500 Cobalt Points were selling for approx $100K. Today, $100K would buy approx 10,000 Marriott DC Points.

So, I'm hoping the conversion rate is something like 4:1 -- Marriott DC Points for Cobalt Points.

Can anyone comment?

Thanks very much,

Greg
 

billkoelpin

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there aren't and cobalt points they changed the entire points to the marriott points. 5000 cobalt was like 11500 marriott. we decided against joining since they dropped the a&k residences and dropped ritz kapalua and bahamas and then opened it all up to the marriott owners. you can just rent the ritz st thomas whenever you want it there is not need to "buy"...
 

Josephine

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Ritz Carlton Club Jupiter

What a great letter. I have just join TUG. I have been a member of Ritz Carlton Club Jupiter for year having spent more than $300k for the 5 weeks plus also buying the Golf membership which has now been taken over by Trump. I am now trying to sell it for a $90K and have been told that i have no chance.

Lee Cunningham
Executive Vice President & Chief Operating Officer
The Ritz-Carlton Destination Club
Member.inquiry@ritzcarltonclub.com

Dear Lee, the recent communications from the Marriott Vacations Worldwide Corp. are both insulting and disingenuous. I encourage you and your team to communicate with the Ritz-Carlton Destination Club members in an earnest and forthright manner.

First, let's start how you sign your letter. You are the Executive Vice President and Chief Operating Officer of the Marriott Vacations Worldwide Corporation. I assume you sign your August 20th letter under the "The Ritz-Carlton Destination Club" to provide us the RCDC members comfort that you have our best interests at heart. I would encourage you to be upfront that you work for the Marriot Vacations Worldwide Corp., of which only a small fraction of its members belong/bought into the RCDC brand. Such honesty will suggest you understand that there are competing interests at play.

Second, you start your August 20th letter with an absurd and patently false statement: "We would like to assure you that nothing that you originally purchased has changed or will change as a result of the announcement mentioned above." Sir, in one fell swoop RCDC members lost access to the Ritz Carlton Clubs in Abaco and Kapalua Bay. We also lost access to the upscale Abercrombie and Kent properties. And "Based on The Ritz-Carlton Destination Club Member feedback," (ha-ha) RCDC members will see their properties being marketed to and being made available to MVW timeshare/points members who have a much lower cost of entry. We, the RCDC members, are not idiots. Please do not treat us as if we were.

Third, beyond the obvious spin you try to put on the Marriot Vacation Club efforts to "expand its luxury experience options", the reality is that Marriot Vacations Club properties cater to a consumer with a different price point with different expectations. To be clear, if any RCDC member wanted to be part of the the Marriot Vacation Club, he or she would have saved one hundred or two hundred thousand dollars and bought into the Marriot Vacation Club.

Lastly, your recent communications fail to acknowlege the underlying issue which all RCDC members need to understand. The Marriot Vacations Worldwide Corp. has a huge incentive to dilute the RCDC brand to further its greater interest of selling more Marriot Vacation Club memberships. The growth of Marriott Vacations Worldwide Corp. as a public company it tied with growth of the sales of more and more Marriot Vacation Club memberships. The sale of more RCDC memberships is not currently relevant for this public company. Thus the value of the investment made by each RCDC members is at jeopardy.

The recent communications by you and your team have undermined your credibility with the RCDC membership. Unless the Marriot Vacations Worldwide Corp. changes its attitude and begins to address the clear conflict of interest that will destroy the value of our investment, I continue to encourage the RCDC Aspen Highlands board to explore exiting from the Marriot relationship and cancel all management contracts.

Best regards,
 

GregGH

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What a great letter. I have just join TUG. I have been a member of Ritz Carlton Club Jupiter for year having spent more than $300k for the 5 weeks plus also buying the Golf membership which has now been taken over by Trump. I am now trying to sell it for a $90K and have been told that i have no chance.

Hey - Josephine ... I would think the Four Seasons Aviara ( Carlsbad Ca - just north of San Diego ) could match that 5 weeks in gold time ... at 300K and offer a $280k gift card at Costco ... damm I do love their wine selection when we are there. Just a suggestion ... but I appreciate you pain on your loss ... I own gold & silver ... I also have similar pain

Greg
ps- what a deal for resale weeks at a Four Seasons resort ...call Judy Rulli 800-998-0946 to see ... http://www.luxuryresidenceclubresal...tinations/Aviara/Currently_Available&id=48231 ... ps - I have no connection with her ... she is the 'official' reseller now ... I got 6 of my 9 weeks from Tri-West.
 
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sparty

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Marriott Vacations Fraud Suit

Majority of property owners at The Abaco Club in The Bahamas filed suit against Marriott Vacations and The Ritz-Carlton Hotel for breach of contract/fiduciary duty and fraud.

Allegations are MVCI didn't own/operate the club at contractually required levels and extend a first right of refusal to owners in connection to Marriott Vacation's plan to sell the property.
 
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SueDonJ

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PRNewswire article link:
Marriott Vacations Worldwide And Ritz-Carlton Hotel Company Sued By Owners Of Homes And Property At The Abaco Club On Winding Bay

The article mentions similar allegations elsewhere and there are several related threads on the TUG Non-Traditional Interval Ownership board. The Abaco property is specifically mentioned in the first post, and the 12/11/12 lawsuit filing is posted beginning in Post #44, of this thread: Letter from the Ritz Carlton Destination Club

I understand making the connection to the timeshare board because Marriott Vacations Worldwide is named in the suit. However, I'm merging this thread with the existing thread linked above because it's more suitably placed where the topic has been mentioned previously.
 
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nakyak

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Are there members of any property that are not suing and actually happy with Ritz-Carlton Club?

Are there other places where members are more actively discussing the challenges associated with membership? As a member I would like to be more actively involved with getting the facts on the table.
 
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