Banking with II/can this be done?

island22 · Mar 4, 2009

I have a question for everyone. Hope you can help.
I own a 2br lock off at WKV 81,000 options.
I am currently using 51,700 options for a 1br exchange into WSJ for this year.
I have 29,300 options remaining for use year 2009.
Does anyone know if this is enough options to bank a week with Interval?
Thanks for any help you can give me with this question.
Carolyn

SDKath · Mar 4, 2009

Hi there,

Unfortunately you cannot bank staroptions with Interval. You can try to get a week reserved (if you have enough SOs) in a studio off season someplace perhaps. Then, you can ask Starwood to deposit it for you for an II trade.

Katherine

DeniseM · Mar 4, 2009

You can only deposit a week that you own. You cannot make a Staroption exchange and deposit that, so in this case, I don't see how it will work.

I would use the Staroptions to reserve a weekend to use yourself for a getaway, or to rent out.

Good luck! :hi:

island22 · Mar 5, 2009

Thanks for your replies.
I was able to book a week in a small 1br at WKV for a week in July.
So now will have to decide if I want to go for that week or try to deposit it with II.
I'm guessing that week probably wouldn't have alot of trading power, but might be worth it anyway, you never know!

DeniseM · Mar 5, 2009

island22 said:
Thanks for your replies.
I was able to book a week in a small 1br at WKV for a week in July.
So now will have to decide if I want to go for that week or try to deposit it with II.
I'm guessing that week probably wouldn't have alot of trading power, but might be worth it anyway, you never know!

Do you own a small 1 bdm. during the same season? If not, this is a Staroptions exchange, and you can't deposit it.

island22 · Mar 5, 2009

Just for the record, I called and was unable to deposit the week I made the reservation for in July because it wasn't my ownership period (ie, I own gold season, this was silver) apparently per Tim, supervisor at SVO, this information is in my 50 page disclosure statement in my original contract with SVO. I asked him where in the disclosure statement I might find this tidbit of information, he didn't know.
I asked him to please transfer me to the automated feedback line, that they are so eager to have you complete when it's a good conversation, I was put on hold, but then just disconnected.
Nice customer service there starwood...

jarta · Mar 5, 2009

island22, ... I'd call back, ask an innocuous question and, after it is answered, do the feedback.

At the end, it asks if you want to leave a message and have someone call you back. I'd leave an oral message specifically mentioning the supervisor who hung up on you on the previous call, Tim. He probably was frustrated, but he did not act properly.

However, the information Tim was giving you is correct. As I understand the SVO policy, when you have already made a reservation out of your season, you have to cancel and eat the fee, if any, for canceling. Then, when the StarOptions are returned to your SVO account, you can make a deposit of the options equal to a week in your season into II - but Starwood chooses the week deposited.

Or, if you don't have enough StarOptions left to equal a week in your season after you cancel, you can just go where you reserved. (I think this is the same thing Denise was saying in her last 2 posts.)

... eom

DeniseM · Mar 5, 2009

island22 - In the above thread I've stated 2 or 3 times that you can't deposit a Staroption exchange - so it shouldn't have been a surprise to you. :shrug:

You can only deposit what you OWN - you don't own a small one bdm. in silver season. Sorry, but you don't have a beef here.

island22 · Mar 5, 2009

Denise, I understand I don't have a "beef" with the fact that I can't deposit a week with II that I don't own.
I do, however, have a beef, with the fact that I was hung up on in this situation. Giving the supervisor the benefit of the doubt, maybe there was a problem with the phone system, as often happens in similar situations I'm sure.