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Marriott Exit program

bogey21

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Did they increase their commission from the historical 40% to 50%, or did that round up due to other fees?

Historical 40%!! Years ago I used Marriott to sell my Sabal Palms Week and my Monarch Crown Suite. Their commission was only 20% back then and even after Marriott's commission I ended up getting more than I paid for the Weeks. For example I paid $25,000 for my Crown Suite Week (in the resale market) and Marriott sold it for me for $41,500 less their 20% commission...

George
 

BobGee

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My email to Marriott regarding my ownership at Shadow Ridge: "Please provide me with the options available to participate in the Exit program."

Marriott response:
"Good day!

As an alternative to continuing to pay maintenance fees year after year, we’d like to make you aware of the opportunity to relinquish or deed back your ownership. While this transaction does not cost you anything, this option will not result in any financial proceeds to you either, it would be a guaranteed, quick way to exit the program and eliminate your ongoing annual maintenance fee commitment, including the upcoming 2020 maintenance fee. Your last usage and maintenance fee will be 2019. The transfer of your ownership would commence in as soon as 90-120 days of your acceptance.

The first-year occupancy to MVC would be 2020. You will retain the usage for 2019 and be responsible for the 2019 maintenance fees. Any outstanding maintenance fees, taxes or loans will need to be paid prior to ownership transfer.

The offer to deed back your ownership is valid for the next 7 business days and is subject to change at any time with or without notice.

We hope that this information has been helpful. Please advise if we can assist further."

How generous of them to take the ownership back.
 

TXTortoise

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Just last week I signed the sales agreement paperwork and sent it in. I was gifted the MVC from a family member and figured it was not for me. Marriott told me I would be getting about $3000 and some change after the sale. But I need it to sell before, I believe she said Sept of this year, so I don't have to pay maint fees for 2021. She said any buyer after Sept, they are buying for 2022 and you will still have it for 2021. I hope I sell it for 2021 and not be stuck with it for another year. She told me I am like 45th in line (of the same season, unit, etc) and it's first in first out, they sold over 60 in the last 12 months, so idk, crossing my fingers and patiently waiting.

Where, what and when is your week? Just wondering which resort sells 60/year.
 

DeeCee

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I just called the Marriott Exit Program. We own a Legacy week, Gold Season, Gardenview at Surfwatch (purchased resale). The gentleman I spoke with said we would come out with approximately $3700.00 after their commission and that the buyer would pay any transfer fees. He also said it would be our 2020 year, and we would retain usage of our 2019 year.

I called out of curiosity as we don't have any intention of selling (at least not at this point in time). We paid $6000 resale direct through Marriott when they still had that option (I found that site on the web) and use it for Easter weeks. We saw the listings on TUG and Ebay, but being that we never purchased resale on the market before, my husband felt more comfortable with going direct to Marriott. While we knew we could have possibly gotten it for less on the market, we felt comfortable with the price even knowing we'd sell it for less, if we ever sell it. It seems to command a higher rental rate for the week before, during and after Easter, more than enough to cover MF, and we liked that option when we were researching. We love it and hope to never have to sell it. We have traveled with our cousins and hope to travel with our adult children and grandchildren in the upcoming years.

We do not belong to II and don't intend on buying that membership, as we use our other timeshare if and when we want to trade.

We did a lot of research before buying, all based on where we want to go every Easter week....for me that's BEACH BEACH BEACH BEACH BEACH. For my husband, a relaxing place with enough to do to get out and about, and enough NOT to do when he just wants to relax. SURFWATCH is beyond perfect for us, and easily reachable.

I don't know if what I was told is actually accurate but I am not unhappy with it. After using it a few years, IF we can still sell and come out with approximately $3700 and IF we want to, we'd still look at it as a good decision.

We can't wait to get back there!

Dee
 

LUVourMarriotts

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I called the Exit department last summer, when I was working on buying a MOW week. I was working with the resale department at the time, and they were a joke, since they strung me along for a while saying they had MOW, but they didn't. When we first started the conversation, I told them I wanted to make a deal where I gave them MFV for some compensation, which I knew would be low, and then we work that into the purchase of MOW. Obviously didn't happen. I was then at MOW, went to a presentation, and suggested the same. They told me it would have to be 2 transactions, and I would have to call Marriott myself for the buy-back part. I didn't do any transaction with Marriott directly. I bought 3rd party resale.

When I did call the Exit dept., here's what they offered me.
For my MFV Platinum, they offered me, "The 'opportunity' to deed the unit back to them." I would get $0 from the transaction. They said "We see no value in MFV, so we would not even try to sell it for you. We would simply turn it into destination points and resell it."
So then I said, out of curiosity, what would you do for my Aruba Surf Club Gold week. They said they have so much inventory that they could not even offer to sell it at that time, but I could be added to a waiting list to get onto the sales list. I told them to add me to the wait list for the wait list. It's been about 9 months now, and I have not been contacted to have my unit added to their sales list. I have no intention of actually doing that, I just asked them to add me to the wait list to see how long it would take to get to me.
 

JIMinNC

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I called the Exit department last summer, when I was working on buying a MOW week. I was working with the resale department at the time, and they were a joke, since they strung me along for a while saying they had MOW, but they didn't. When we first started the conversation, I told them I wanted to make a deal where I gave them MFV for some compensation, which I knew would be low, and then we work that into the purchase of MOW. Obviously didn't happen. I was then at MOW, went to a presentation, and suggested the same. They told me it would have to be 2 transactions, and I would have to call Marriott myself for the buy-back part. I didn't do any transaction with Marriott directly. I bought 3rd party resale.

When I did call the Exit dept., here's what they offered me.
For my MFV Platinum, they offered me, "The 'opportunity' to deed the unit back to them." I would get $0 from the transaction. They said "We see no value in MFV, so we would not even try to sell it for you. We would simply turn it into destination points and resell it."
So then I said, out of curiosity, what would you do for my Aruba Surf Club Gold week. They said they have so much inventory that they could not even offer to sell it at that time, but I could be added to a waiting list to get onto the sales list. I told them to add me to the wait list for the wait list. It's been about 9 months now, and I have not been contacted to have my unit added to their sales list. I have no intention of actually doing that, I just asked them to add me to the wait list to see how long it would take to get to me.

While it doesn't make it any better for you personally, I think the answers you got on those two properties make sense given the realities of how MVC works with resales and buybacks. Most of the resales Marriott does now are probably part of the bundled Points/Resale week packages sold through the sales offices and telesales. As a result, they are looking to broker only those properties that have broad resale appeal across their franchise. Based on that, I can see that MFV may not have much value as property to bundle with points, so they would have an insufficient resale market for those weeks. The Aruba weeks can't be added to Marriott's Destination Club Trust, so the only thing they can do is try to broker those weeks. Aruba weeks are generally not sold as part of the bundle packages either, so that limits the number of units they sell and probably means it takes longer to work through their available sales list. The Aruba sales offices do sometimes sell enrolled resale weeks, but at high $20K to $30K or higher prices, so that further reduces the pace at which they can move resale Aruba weeks. If you ever need to sell your Aruba week, you would probably have more luck through an external resale broker.
 

BocaBoy

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I have asked MVC Resales (Exit) more recently about trading our St Kitts weeks for Club Son Antem weeks.
Their answer was that this could only be possible (if at all) as two separate transactions
- selling us Club Son Antem weeks (European resort weeks are still being sold, but at high prices)
- helping us sell St Kitts weeks (but with no guarantees)
So this is neither a practical nor a cost effective option for us.
This appears to be the case now, but when we did our trade-ins some 10 years ago, it was all handled as one transaction.
 

bazzap

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This appears to be the case now, but when we did our trade-ins some 10 years ago, it was all handled as one transaction.
If only it were still the same.
 

CanadaGuyEh

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JIMinNC

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Hope is just not another way for them to get you buy more - convince you is great and you need 3 more to make it better and "worth" it.

Marriott hasn't really actively marketed their resale program for a long time since they no longer sell developer weeks, so it's unlikely this will be used as a direct sales channel. The exit program is simply now a way for them acquire cheap weeks to bundle with DC Points for the hybrid bundles they sell through their regular sales channels.
 

Ewiike

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We just entered into this exit program with our yearly week 16 at Marriott Harbour Lake in Orlando Fl, and we also wanted to sell a platinum week( every other year), but they said we can give it back , but they not interested in to resale it....
Well , we were told 15 years ago that it's such a great investment...:rolleyes:
 

ski_sierra

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It's good to read about this program. I'm curious if Marriott will take back dog weeks. They are the only ones who can take those weeks and sell it back at a high price. Repeat the cycle.
 

bogey21

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Did they increase their commission from the historical 40% to 50%, or did that round up due to other fees?

When I decided to sell my Sabal Palms Week in the 80s I used Marriott Sales to sell it for me. Back then their commission was only 20%. While it took some 2-3 years for my Week to get to the top of their list they rented it for me while I was waiting for a Buyer also with a 20% commission. My net rental proceeds more than covered my MFs. I have to say that during this period they were great. They even helped me pick an in demand Week to rent. Obviously as their operation has gotten bigger things have changed...

George

PS While rereading the above it dawned on me that Marriott also successfully sold my Monarch Crown Suite Week that I had purchased resale. They sold it in less than 10 days for over $40,000 again with only a 20% commission...
 
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I fear there is zero chance of MVC buying back weeks at anything other than very heavily discounted prices (if at all?), although to be honest I never had any expectations that they might do.
We own 5 weeks at Club Son Antem and the associated hotel management changes have been very disappointing.
We normally use the MVC townhouse pools and hotel guests should not be using those at all (I have never noticed them doing so)
MVC owners and guests can use the hotel pool.
I am not certain about arrangements for hotel guests using the main MVC Spa Centre pool?
I do know though that the hotel offers their guests rates for using the MVC Spa Centre facilities, but the hotel has to pay MVC for this usage.
Are you keeping your 5 weeks at club son antem?
I sometimes think, giving it up and not paying maintenance is more economical. I can still go to son antem through web and rent when I want to, without obligation of paying yearly maintenance fee. I saw online, 3 bedroom being rented the same price as 2 bedroom maintenance fee
 

kermadec

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Just last week I signed the sales agreement paperwork and sent it in. I was gifted the MVC from a family member and figured it was not for me. Marriott told me I would be getting about $3000 and some change after the sale. But I need it to sell before, I believe she said Sept of this year, so I don't have to pay maint fees for 2021. She said any buyer after Sept, they are buying for 2022 and you will still have it for 2021. I hope I sell it for 2021 and not be stuck with it for another year. She told me I am like 45th in line (of the same season, unit, etc) and it's first in first out, they sold over 60 in the last 12 months, so idk, crossing my fingers and patiently waiting.
Were you able to sell it? I was advised by marriotts services sometimes it is better to give it back to the resort than paying maintenance fee every year if you are not going to use it. Selling it, you won't get any proceeds after all commission's are taken and hassle of forms to complete. There's a long queue of owners selling their timeshares so it will take your timeshare years to sell.
 

bazzap

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Are you keeping your 5 weeks at club son antem?
I sometimes think, giving it up and not paying maintenance is more economical. I can still go to son antem through web and rent when I want to, without obligation of paying yearly maintenance fee. I saw online, 3 bedroom being rented the same price as 2 bedroom maintenance fee
Yes, Club Son Antem is our favourite European MVC resort.
We normally visit twice per year and plan to continue doing so.
i doubt we could consistently get the concurrent weeks we would want on the rental market for the MFs we pay.
We have to book them at 13 months out now to be fairly sure of getting them.
 

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Yes, Club Son Antem is our favourite European MVC resort.
We normally visit twice per year and plan to continue doing so.
i doubt we could consistently get the concurrent weeks we would want on the rental market for the MFs we pay.
We have to book them at 13 months out now to be fairly sure of getting them.
Thanks for your reply. We love Son Antem too but when we bought it, it was sold to us saying Gold season covers family holiday including school holidays. We realised now, having grandchildren, very rarely it covers school breaks.Thanks again for your repky
 

bazzap

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Thanks for your reply. We love Son Antem too but when we bought it, it was sold to us saying Gold season covers family holiday including school holidays. We realised now, having grandchildren, very rarely it covers school breaks.Thanks again for your repky
That is interesting.
We were always told that Gold Holiday season was needed for family/school holidays.
We had planned to buy Gold Holiday weeks, as these were being “sold” on the basis of also being able to use them for stays in Gold season so we would have welcomed the added flexibility.
What they didn’t make clear though was that there is very limited access with these to Gold season, when we prefer to go.
Thankfully we discovered this before purchasing.
 

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That is interesting.
We were always told that Gold Holiday season was needed for family/school holidays.
We had planned to buy Gold Holiday weeks, as these were being “sold” on the basis of also being able to use them for stays in Gold season so we would have welcomed the added flexibility.
What they didn’t make clear though was that there is very limited access with these to Gold season, when we prefer to go.
Thankfully we discovered this before purchasing.
Gold and Gold Holiday are completely different. We were not informed.Gold holiday covers some school holiday but not Gold, very rarely.
Also you can't upgrade now, for example Gold to Gold Holiday. You need to purchase another timeshare.
 

TheTimeTraveler

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Gold and Gold Holiday are completely different. We were not informed.Gold holiday covers some school holiday but not Gold, very rarely.
Also you can't upgrade now, for example Gold to Gold Holiday. You need to purchase another timeshare.


Never heard of a purchase classification of "Gold Holiday". I have heard of marketing of Platinum Weeks, Platinum Plus Weeks, Gold Weeks, Silver Weeks and Bronze Weeks. Did they ever sell "Gold Holiday" weeks?

What Marriott Resort has Gold Holiday weeks? Anyone know?




.
 

bazzap

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Never heard of a purchase classification of "Gold Holiday". I have heard of marketing of Platinum Weeks, Platinum Plus Weeks, Gold Weeks, Silver Weeks and Bronze Weeks. Did they ever sell "Gold Holiday" weeks?

What Marriott Resort has Gold Holiday weeks? Anyone know?
Several MVC resorts do, certainly Club Son Antem
AFEEA57F-2D09-42A5-86F6-493FA364260E.jpeg
 

bogey21

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Did they increase their commission from the historical 40% to 50%, or did that round up due to other fees?

Historical 40%! Back in the good old days I had Marriott sell my Sabal Palms and Monarch Weeks and their commission was only 20%...

George
 

Dean

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Historical 40%! Back in the good old days I had Marriott sell my Sabal Palms and Monarch Weeks and their commission was only 20%...

George
Plus earlier on with upgrade programs they gave you full credit for the trade in but later they started taking their commission out of the trade in price as well.
 
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