Newbie to Starwood

MattK · May 4, 2011

Hi,

Today my wife and I went to a presentation at the Sheraton Broadway Plantation here in Myrtle Beach while on our honeymoon. We went in with an open mind and not really interested on buying anything due to our current financial situation.

We loved the presentation and all that this ownership seems to offer. We started off with the Explorer program that locks us in at today's price for a year. I guess we don't really know too much about this stuff and it seemed like a good idea, as a way to allow us to afford a few vacations that normally may seem out of reach.

Not sure if it was a good idea and basically hoping we didn't make a mistake. We can afford it monthly but I guess I'm asking the fellow members to "sell" the Starwood product to me lol.

I suppose I'm nervous that I'm going to find just as cheap a hotel rate right now on hotels.com or some other website since we are getting 50% off the hotel stays for a year until making an official purchase into Vacation Ownership.

Sorry if I'm missing seeing any of this already posted on this forum. Thanks in advance.

Matt

DeniseM · May 4, 2011

Hi Matt - You should rescind this Pkg. immediately. This is a nice resort, but because of the economy, people are GIVING AWAY timeshares there.

Here is a link to a free timeshare, right here on TUG - http://www.tugbbs.com/forums/showthread.php?t=146368

Please read this article about rescinding - http://www.tugbbs.com/forums/showthread.php?t=74493

Rescind, and then come back and talk to us about it, for lots more info. about how to get a timeshare for FREE.

MattK · May 4, 2011

DeniseM said:
Hi Matt - You should rescind this Pkg. immediately. This is a nice resort, but because of the economy, people are GIVING AWAY timeshares there.

Here is a link to a free timeshare, right here on TUG - http://www.tugbbs.com/forums/showthread.php?t=146368

Please read this article about rescinding - http://www.tugbbs.com/forums/showthread.php?t=74493

Rescind, and then come back and talk to us about it, for lots more info. about how to get a timeshare for FREE.

I guess I don't understand what jerseygirl is offering in myrtle. Are they offering the same thing with points per year? The vacation ownership package is around 17,000 that we want. Is hers no cost at all to buy other than transfer and offering the same thing?

Also our terms and conditions on this says the explorer package is non refundable and will not be entitled to a refund of any payments made here under.

Sorry if I sound like I have no clue. I guess I didn't when buying...

DeniseM · May 4, 2011

Yes - she is offering to give away a deeded timeshare, with no expiration, at Sheraton Broadway Plantation for FREE. The new owner just has to pay the transfer fees (probably less than $200.)

Sheraton Broadway Plantation Annual Gold Plus Float – One Bedroom
* 2011 Maintenance Fee $547.98 paid in full
* Usage begins in 2012 or can reimburse maintenance and guest certificate fees and I’ll transfer the 2011 usage at Harborside Dec 3-10 in a one-BR unit if desired
* One-Bedroom / One Bath / Sleeps 4
* King in Master Bedroom / Sofabed
* Tiger Trader with II and SFX

It will not have points - but the ability to convert to points is NOT worth $17,000 PLUS interest!

If you acquire a free timeshare like this one, you can use it yourself, and also trade it with an exchange company to visit other resorts.

And this is every year usage - I'm guessing the one you were offered for $17,000 is every other year?

It makes no sense to pay the developer thousands of dollars, when you can get the same thing for FREE!

*One more point - the number of points you will get will be very low.

MattK · May 4, 2011

Ok I guess I jumped the gun buying. The paper said under terms and conditions that I can not get a refund...I only put down $198 and I guess if I lose that I don't mind as compared to losing a lot more. I guess I don't want to be on the hook for the rest of the amount. I'm all for free stuff haha

plus transfer fees of course

Denise L · May 4, 2011

Hi Matt,

You are right that Sheraton Broadway Plantation is a lovely resort

. All the recent upgrades and renovations look really nice. Great location, too. We owned a week there and are in the process of transferring it to a nice family who lives in Pennsylvania for transfer fees only. It is an annual week in the Plantation section that floats 9-43, 47, and is considered Gold Plus, I think. It would be worth 67,100 in Staroptions if it had Staroptions attached to it.

Starwood offers you Staroptions and conversion to Starpoints if you buy directly from them, and neither of these are available on the "resale" market if you buy at a non-mandatory resort like Broadway Plantation. However, the 17K you would save from not having those options is huge.

It is fine to buy an Explorer Package and explore. I actually don't think the cost of that is tremendous and you do get some accommodations, discounts, and Starpoints for that time period. It used to be that you could apply that purchase to your final Starwood Vacation Ownership purchase, so I think what DeniseM is saying is don't do that part. I understand that the Explorer package may be non-refundable, but that is fine. You can enjoy that package!

Now, a lot of us here were happy to buy from Starwood at full price (we did in 2003), and we enjoy the Starwood resorts A LOT. The quality is high and we love our home resort (Maui). Depending on how far in advance you plan and where you travel to, a Starwood purchase may be perfect for you. Just take your time and learn a lot here about timesharing, and what will work best for your family. There is nothing wrong with buying an Explorer Package (we did)

.

MattK · May 4, 2011

Denise L said:
Hi Matt,

You are right that Sheraton Broadway Plantation is a lovely resort . All the recent upgrades and renovations look really nice. Great location, too. We owned a week there and are in the process of transferring it to a nice family who lives in Pennsylvania for transfer fees only. It is an annual week in the Plantation section that floats 9-43, 47, and is considered Gold Plus, I think. It would be worth 67,100 in Staroptions if it had Staroptions attached to it.

Starwood offers you Staroptions and conversion to Starpoints if you buy directly from them, and neither of these are available on the "resale" market if you buy at a non-mandatory resort like Broadway Plantation. However, the 17K you would save from not having those options is huge.

It is fine to buy an Explorer Package and explore. I actually don't think the cost of that is tremendous and you do get some accommodations, discounts, and Starpoints for that time period. It used to be that you could apply that purchase to your final Starwood Vacation Ownership purchase, so I think what DeniseM is saying is don't do that part. I understand that the Explorer package may be non-refundable, but that is fine. You can enjoy that package!

Now, a lot of us here were happy to buy from Starwood at full price (we did in 2003), and we enjoy the Starwood resorts A LOT. The quality is high and we love our home resort (Maui). Depending on how far in advance you plan and where you travel to, a Starwood purchase may be perfect for you. Just take your time and learn a lot here about timesharing, and what will work best for your family. There is nothing wrong with buying an Explorer Package (we did) .

Thank you Denises lol I think that buying afterwards for the full price after the Explorer package may be a bad idea based on the economy. This may be a "live and learn" situation for me. But for the 1950 for the Explorer Package that includes 50% off hotels and a 5 night 4 day stay in a 2 bedroom villa within the year, may not be a total loss if I say "no" afterwards lol

DeniseM · May 4, 2011

Matt - You really need to sit down and look at the Explorer Pkg., see what you are getting, and see if it's worth what you paid for it. For $1,950, you can rent two weeks at this resort - that's way too much for 4 night stay.

-Also, the 50% off coupon is for 50% off the rack rate (highest rate) so it is virtually useless.

As far as buying from the developer, I must respectfully disagree with DeniseL. It makes no sense to pay $17,000 + interest for something you can buy for $200.

And if $17,000 is for an every-other-year deed, you would only get 67,100 Staroptions every other year - a very low amount.

I also bought from the developer at the same Maui resort before finding TUG and the resale market, and frankly, that was a disaster.

We paid $45,000 for our Maui timeshare - it's now selling for about $10,000 on the resale market - yes, a loss of $35,000.

To make it even worse, in the 9 years we've owned it, the maintenance fee has DOUBLED......so I am not happy with my developer purchase at all!

Denise L · May 4, 2011

DeniseM said:
As far as buying from the developer, I must respectfully disagree with DeniseL. It makes no sense to pay $17,000 + interest for something you can buy for $200.

And if $17,000 is for an every-other-year deed, you would only get 67,100 Staroptions every other year - a very low amount.

I also bought from the developer at the same Maui resort before finding TUG and the resale market, and frankly, that was a disaster.

We paid $45,000 for our Maui timeshare - it's now selling for about $10,000 on the resale market - yes, a loss of $35,000.

To make it even worse, in the 9 years we've owned it, the maintenance fee has DOUBLED......so I am not happy with my developer purchase at all!

Hey DeniseM! I never told MattK to buy from Starwood. I told him that it's okay to explore and see if Starwood is right for him. I certainly would encourage him to get a free timeshare if that works out for his family.

I think we agree that paying full freight is too much, I just said it differently so he doesn't feel like he wasted too much of his $198 yet.....

Denise L · May 4, 2011

Denise L said:
Now, a lot of us here were happy to buy from Starwood at full price (we did in 2003), and we enjoy the Starwood resorts A LOT. The quality is high and we love our home resort (Maui). Depending on how far in advance you plan and where you travel to, a Starwood purchase may be perfect for you. Just take your time and learn a lot here about timesharing, and what will work best for your family. There is nothing wrong with buying an Explorer Package (we did) .

1) A lot of us WERE happy to buy from Starwood (true at the time)
2) The quality is high
3) A Starwood purchase may be perfect (I did not say retail)
4) There is nothing wrong with buying an Explorer Package

MommaBear · May 4, 2011

I am also at SBP this week and have fallen in love with the resort and the area. So, instead of spending too much, I bought 1 week in a premium villa annually for $1 and $49 closing costs on ebay.... In fact, when the sales staff found out I had bought my 2 br Vistana Resorts/ Courts AND my 2 br l/o at Vistana Resorts/Cascades for $1 on ebay (and no closing costs), they would not invite me to a sales presentation!

DeniseM · May 4, 2011

Denise L said:
Hey DeniseM! I never told MattK to buy from Starwood.

Thank you for clarifying that - from your comment about being happy about buying from the developer, I misinterpreted your statement.

MattK · May 4, 2011

DeniseM said:
Matt - You really need to sit down and look at the Explorer Pkg., see what you are getting, and see if it's worth what you paid for it. For $1,950, you can rent two weeks at this resort - that's way too much for 4 night stay.

-Also, the 50% off coupon is for 50% off the rack rate (highest rate) so it is virtually useless.

As far as buying from the developer, I must respectfully disagree with DeniseL. It makes no sense to pay $17,000 + interest for something you can buy for $200.

And if $17,000 is for an every-other-year deed, you would only get 67,100 Staroptions every other year - a very low amount.

I also bought from the developer at the same Maui resort before finding TUG and the resale market, and frankly, that was a disaster.

We paid $45,000 for our Maui timeshare - it's now selling for about $10,000 on the resale market - yes, a loss of $35,000.

To make it even worse, in the 9 years we've owned it, the maintenance fee has DOUBLED......so I am not happy with my developer purchase at all!

ouch....sorry for that loss

Yes that much would be for an every other year. I feel really stupid now for not researching, when usually I research most things before buying. :wall:

Well I would have to say I made a $1900 boo boo based on what my paper work says. I'm glad I found this website before making a $17,000 or $24,000 boo boo.

I suppose I will look more at the paper work to see if I can rescind this Explorer Package altogether. If not, tough lesson learned ...

tschwa2 · May 4, 2011

Explorer Packages

My understanding is that explorer packages do not have a recind period like timeshares. Double check the fine print and if you see something or can cancel with just the $198 paid lost then go ahead and cancel. If not the whole amount is due and they can ding your credit for not paying. Make reservations for a return date of your chosing and enjoy. You will probably have to do a repeat presentation but get educated on the TS product before you go and so "NO" or yes if after really learning about it find its something you want.

DeniseM · May 4, 2011

Matt - If it were me, it would be worth it to forfeit $198, to avoid paying the other $1,752. Why throw good money after bad?

vacationtime1 · May 4, 2011

The problem with the Explorer Package is that you will be obliged to sit through another high pressure sales pitch when you return. There is no reason for you to do that. As others have already said, you can rent a full week in a larger unit for that price or less.

DeniseM · May 4, 2011

Denise L said:
4) There is nothing wrong with buying an Explorer Package

Of course it's not "wrong," but it's a poor value, so it doesn't make financial $ense for Matt to buy it, if he can get out of it.

MattK · May 4, 2011

Yeah, I'm pretty sure it says no refunds or cancellations. I have good credit so paying the rest is worth it for my credit. I'll just say no afterwards. I'm strong enough to say that after another sales pitch. I will hang around this website as long as possible and look into some deals that other people may have from selling their own vacation ownerships or timeshares. Thanks again everyone! If anyone has anymore advice to school me on, I'm more than happy to hear it. I'm new and a very anxious learner!

DeniseM · May 4, 2011

MattK said:
Yeah, I'm pretty sure it says no refunds or cancellations. I have good credit so paying the rest is worth it for my credit. I'll just say no afterwards. I'm strong enough to say that after another sales pitch. I will hang around this website as long as possible and look into some deals that other people may have from selling their own vacation ownerships or timeshares. Thanks again everyone! If anyone has anymore advice to school me on, I'm more than happy to hear it. I'm new and a very anxious learner!

Matt - I recommend that you start by reading the Starwood FAQ at the top of this forum, and letting us know what questions you have.

After that, you might want to start browsing the many other resources posted at the top of this forum - under "Starwood Owner Resources."

There is a pretty steep learning curve with timeshares, so take your time - you will be glad you did! :hi:

Ken555 · May 4, 2011

Regardless of what it says, I suggest you talk with the sales staff and tell them you want to rescind. You've thought about it, and the high pressure sales got to you and you bought, now you regret that and want to cancel. Be clear and factual. If they refuse, call your credit card (assuming you paid via cc) and tell them about the situation. At times, vendors don't want to deal with the hassle and will do the right thing even if the documents lock you down. Be sure to tell them you're still interested in a unit but don't want the pressure involved with this package, etc.

And fwiw, the 50% off rack rate deal is also available at any time for just 1,000 StarPoints. I just used one for the first time after it turned out to save a bit for one upcoming stay. I was surprised it helped. But the actual value is quite low... $200 or so, in my case.

DavidnRobin · May 4, 2011

Agree - try and get out of the ExpPkg by discussing with them (polite but firm and factual), and if that doesn't work - try to go through your CC company. Do not just write this off as a $1900 lesson - as you have much better things to do with $1900.

Do this asap - waiting will only go against you.

If you get stuck with the ExpPkg (if all else fails) - then make the best of it. >90% of people on this board have made a variation of this hard lesson - and we all make the best of it.

gl

YYJMSP · May 4, 2011

MattK said:
We loved the presentation and all that this ownership seems to offer. We started off with the Explorer program that locks us in at today's price for a year.

The Explorer package locks in the price for 90 days, not a year...

If you make a purchase within a year, you can apply the price you paid for the Explorer package against it.

You have to return (subject to availability) within (I think it was) 18 months for a follow-up presentation to get the SPG points.

vss · May 5, 2011

To be fair - the 50,000 (or 60,000) Starpoints that MattK will receive after going through the return sales presentation also have good value. At a conservative 2.5c per Starpoint thats worth $1,250 or $1,500. This combined with the four free nights make it a reasonably attractive package.... Just my opinion...

SDKath · May 5, 2011

vss said:
To be fair - the 50,000 (or 60,000) Starpoints that MattK will receive after going through the return sales presentation also have good value. At a conservative 2.5c per Starpoint thats worth $1,250 or $1,500. This combined with the four free nights make it a reasonably attractive package.... Just my opinion...

Agree. Also, do you HAVE to go back to the same resort? Maybe you can go to another resort instead to check out another property.

Katherine

sail27bill · May 5, 2011

MattK--Check the fine print. I was able to cancel an Explorer Package that I purchased at Vistana Villages for only a $99 processing fee. I was given 7 days in which to cancel. Luckily I had found Tug (already bought 2 developer and wanted to buy a third) so it may be possible. I would not continue paying if you can get out of it. This resort is nice but is selling for pennies on the dollar. If possible, recind now, the starpoints and the couple of days of another vacation is not worth the $1950.

Good Luck,
Anita

Newbie to Starwood

MattK

DeniseM

MattK

DeniseM

MattK

Denise L

Tug Review Crew: Veteran

MattK

DeniseM

Denise L

Tug Review Crew: Veteran

Denise L

Tug Review Crew: Veteran

MommaBear

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DeniseM

MattK

tschwa2

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DeniseM

vacationtime1

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DeniseM

MattK

DeniseM

Ken555

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DavidnRobin

YYJMSP

vss

SDKath

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