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A few extra DC points to make the next level

Discussion in 'Marriott Vacation Club' started by radley, Aug 10, 2019.

  1. dansimms

    dansimms TUG Member

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    I hope that is the case. It is a nice ‘thank You’ for taking the plunge early on and taking on the greater burden of Chairman maintenance fees for several years now. It is an even bigger win if they enhance Chairman without me having to buy more. It does seem awfully similar to the next tier below it. If I sold for the Vacation Club, I would want and need more ammunition to ask clients to aspire to Chairman from Presidential.
     
  2. Steve Fatula

    Steve Fatula TUG Member

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    Destinations Points
    Yep, and I provide that feedback to them at every owners update. 3 this year so far! Hope to hit 4.
     
    kds4 likes this.
  3. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    The Initiation Fee is actually an initiation fee to be part of the exchange program. The ownership tiers are a product of the exchange program. I would expect to have to pay those fees to have the points considered as part of the tiers.
     
  4. kds4

    kds4 TUG Member

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    In our case, we actually 'floated-up' as part of being grandfathered in
    Not saying that doesn't make sense, but I'm trying to find where in any documents it lays that out. So far, no luck. Don't holding account points get to play in the exchange as well just at 60 days or less to check-in (which is what resale points are treated as if you don't pay the junk fees). So, if the points have even time limited access to the exchange to make reservations, why wouldn't those points also count for the ownership tiers? Paying the fees only lifts the time restriction so they have unlimited exchange access (same as developer points), no?
     
  5. JIMinNC

    JIMinNC TUG Member

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    In the DC Reservation Procedures, Section VI, paragraph A (page 10 of 4/30/15 revision) it says:

    In addition to other qualifications as may be established by Program Manager from time to time, to become a Select Owner, Executive Owner, Presidential Owner or Chairman’s Club Owner a Trust Owner may be required to own Interests (purchased from Developer or other party approved by Program Manager) with an aggregated minimum number of Points assigned to such Interests as established by Program Manager from time to time.

    It also says (the bolding is Marriott's from the document, not mine:

    The number of Points or other criteria required to render a Trust Owner eligible to become a Select Owner, Executive Owner, Presidential Owner or Chairman’s Club Owner may be revised by Program Manager from time to time and Program Manager reserves the right to eliminate or add any ownership recognition levels or benefits and privileges as Program Manager may determine in its sole discretion. In the event the minimum number of Points required to maintain Select Owner, Executive Owner, Presidential Owner or Chairman’s Club Owner eligibility is raised above the number of Points allocated a Trust Owner’s Interests at any given time, the Trust Owner will be entitled to enjoy the benefits and privileges afforded to Select Owners, Executive Owners, Presidential Owners or Chairman’s Club Owners, as applicable, until the end of the calendar year in which the Trust Owner no longer meets the respective Select Owner, Executive Owner, Presidential Owner or Chairman’s Club Owner eligibility requirements. If the Trust Owner purchases Interests with sufficient Points to reestablish Select Owner, Executive Owner, Presidential Owner or Chairman’s Club Owner eligibility prior to the end of such calendar year, the Trust Owner shall maintain eligibility to be a Select Owner, Executive Owner, Presidential Owner or Chairman’s Club Owner, as applicable.

    In the Exchange Procedures it says the following about Resale Trust Points:

    D. Effect of Transfer of Member’s Interest. Unless otherwise agreed to in writing by the parties to a sale, assignment, or transfer, if a Member (“Selling Member”) sells, assigns, or transfers the Selling Member’s Interest to another party (“New Member”), the Selling Member will lose any and all rights to utilize the Exchange Points associated with such Interest to reserve the use of a Use Period or to use any previously-reserved Use Period. Each New Member will be required to remit to the Exchange Company an initiation fee; provided, however, an initiation fee shall not be required to be paid if the New Member is a Family Member of the Selling Member. (The current initiation fee is $500 per Interest with a $3,000 minimum initiation fee; however, Exchange Company reserves the right to adjust the amount of the initiation fee from time to time and to waive the initiation fee on a case- by-case basis in Exchange Company’s sole discretion.) Exchange Company will, within ten (10) business days of receipt from a New Member of the initiation fee, if required, and a certified copy of the recorded deed transferring an Interest to the New Member, change Exchange Company’s official records to reflect such transfer of an Interest from a Selling Member to a New Member. Further, with respect to Trust Members, until payment of any required initiation fee is received (or waived by Exchange Company), the New Member may not be entitled to Base Plus Exchange Benefits or Special Benefits in Exchange Company’s sole discretion; however, payment of the initiation fee (or waiver by Exchange Company) will allow access to the Base Plus Exchange Benefits. With respect to Exchange Members, until payment of the initiation fee, the New Member will not be entitled to participate in the Program. If the purchase of an Interest is not made from an Approved Broker, then the owner of such Interest(s) may not be entitled to Special Benefits in Exchange Company’s sole discretion, even if the initiation fee is paid. Unless otherwise agreed to in writing by the parties, all existing reservations previously made by the Selling Member will be cancelled. The New Member will also be given possession of the Selling Member’s Exchange Points remaining as of the date of Exchange Company’s recognition of such transfer. Exchange Company shall, from time to time, within ten (10) business days after receipt of written request from any Member execute, acknowledge and deliver to such Member or to any existing or prospective purchaser or mortgagee designated by such Member, a certificate stating the number of Exchange Points that the Member has used and/or has available for use during the current Use Year, any borrowed Exchange Points, and the details of any reservations currently held by the Member. Exchange Company may charge a fee in connection with providing such a certificate.

    Base Exchange Benefits mean the limited ability to make exchanges during the Open Reservation Period and access to such other programs and services defined and offered by Exchange Company as Base Exchange Benefits, from time to time, in Exchange Company’s sole discretion.

    Base Plus Exchange Benefits mean the ability to make exchanges during all the Reservation Windows subject to these Exchange Procedures and access to such other programs and services defined and offered by Exchange Company as Base Plus Exchange Benefits, from time to time, in Exchange Company’s sole discretion. The ability to utilize a Base Plus Exchange Benefit may not be available to all Members.

    Special Benefits mean special products, services, benefits, and vacation/recreational experiences offered by Exchange Company, including, without limitation, the ability to reserve hotel accommodations, cruises, other travel services, and to receive Single Use Points. The ability to utilize a Special Benefit may not be available to all Members including, specifically, Members who are entitled only to Base Exchange Benefits. If Special Benefits are available and a Member is eligible to purchase or utilize any Special Benefits, separate terms and conditions shall apply to the purchase and use of such Special Benefits.


    So, the first quote allows them to restrict status level qualification only to Developer Points, but we know they are allowing those to count toward the levels if the $3/point fee is paid. The section on the fee, doesn't specifically address it.

    They are also not required to grandfather existing levels, but they have done that in the past when they created the new levels.
     
  6. kds4

    kds4 TUG Member

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    I guess what I find confusing is "With respect to Exchange Members, until payment of the initiation fee, the New Member will not be entitled to participate in the Program." However, I understood that an owner who didn't pay the fee can still use their resale points w/in the 60 day window prior to check-in (like owners with points in a holding account). In the language above, is that the 'base exchange benefits'? If that is true, then that contradicts the language that w/out paying you cannot use (exchange) resale points to make a reservation at all. Am I missing something?
     

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