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Change in MVC ownership tiers

Discussion in 'Marriott Vacation Club' started by logos5, Aug 21, 2019.

  1. bazzap

    bazzap Tug Review Crew: Rookie TUG Member

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    I am not a betting man, but I might empty out my savings accounts against this one.
     
  2. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    I missed it. Why 4 days?
     
  3. dougp26364

    dougp26364 TUG Review Crew: Veteran TUG Member

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    IMHO, it’s always a bad idea to buy on the fear of losing
    IMHO, it’s always a bad idea to buy based upon the fear of losing benefits. We’ve owned timeshare in some shape or form. We’ve seen the “fear” tactic so many times my eyes roll back in my head when it gets put on the table. Nothing they’ve ever said I would lose have I actually lost. I’ve seen things added but not taken away.

    To that end, we have recently made a purchase with MVC, but not based on fear. We had relinquished our DRI ownerships and found ourselves wanting/needing a little more with MVC ( the program fits our needs well in most cases). We made our purchase based on needs, not fear.

    As to the price going up, they always say that and, it always has. Changes are coming. We all know that. We’d “like” to believe the sales force knows something, but they usually don’t. The next known public announcement is slated for Oct 4th. I’d be surprised if we see or her anything substantial before that time.
     
  4. Fasttr

    Fasttr TUG Member

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    VacationForever likes this.
  5. tiel

    tiel TUG Member

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    We attended a "presentation" in July at Lakeshore. In fact, it wasn't really a presentation, at least of any sort we've ever attended. The representative we had claimed he was not a salesman, but a regular MVC (an accountant) employee. We did not have the usual get-to-know-you conversation held at the beginning where the salesperson tries to solidify the approach for the sales pitch to be used later. We did not go into a typical sales office either.

    The rep started with: I've known you were coming in since early this morning, and I found a couple of things you need to fix with your ownership. He told us we needed to get rid of our Shadow Ridge and MOW weeks and get trust points instead, since the MF on the weeks were higher than with trust points. He focused on the MOW week, telling us we should sell it or deed it back, and buy 1K trust points at the current rate, using the rationale spending a "little" now will save us a "lot" later. We understood what he was saying, but it just didn't make sense given our personal situation (we have been talking divesting all of our weeks, perhaps in the next 5 years). Plus, 1K trust points wouldn't get us into MOW in the fall (when we like to go, in an Oceanside unit); that's 900 points shy. In addition, this transaction would drop us down 1 ownership level, which may not be meaningful. He was adamant about his position, and thought we made a huge mistake by not agreeing to his proposition. BTW, we were never provided with an actual offer of any sort, just the general $1K pts @ the current rate, with no mention of additional costs, no grand total for the purchase. The whole event was just weird to us. And, if this approach were appealing at this point, we would go the resale route and save big bucks, or just rent as needed.

    ANYWAY, what I was getting to is this: the rep indicated the owner levels and benefits were going to change a lot very soon, and we would not have the same benefits we have now (we are currently Chairman's Club, with 15K+ pts from our enrolled weeks). And, if we didn't buy trust points, we would NEVER be able to get into the Vistana/Hyatt/Westin properties when they are merged into the MVC system...whatever "merge" means. Both of these statements may be accurate, but that's ok with us, we're happy doing what we've been doing.
     
  6. Fasttr

    Fasttr TUG Member

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    Did you get the impression he was hinting that you would have to have Trust points in your ownership in order for your enrolled weeks to count towards Ownership Benefit Levels, or did you feel he was implying that only Trust points would count toward the hot new ownership levels he was claiming were coming very soon.
     
  7. SueDonJ

    SueDonJ Moderator

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    For whatever it's worth, the last/only time they changed the DC status tiers was April '15 and the first reports of those upcoming changes started filtering out from sales presentations in January '15.
     
  8. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    Got it. I kept thinking about the Oct 4th investor meeting.
     
  9. kds4

    kds4 TUG Member

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    Or is this is a hint that whatever MVC owner 'access' to the collective ILG properties will be limited to 'pure' trust points and not accessible w/enrolled week converted points. We've been hearing the threats that there will be meaningful differences in what pure trust points and enrolled week points owners can get access to for quite a while (without seeing meaningful differentiation). Could the ILG acquisition trigger the long cautioned 'parting of the ways' where the type of owned points actually becomes meaningful - as a vehicle to get people to buy more trust points?
     
  10. 2disneydads

    2disneydads TUG Member

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    That would be particularly galling because they have been pushing bundles recently, where you buy a deeded week resale from them, get the week enrolled and then also purchase trust points. Many of us paid substantial amounts to enroll our weeks. I don't see MVCI acting so as to create so much ill will among some of its best customers.

    Sent from my SM-N950U using Tapatalk
     
    JIMinNC likes this.
  11. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    I would certainly never make a purchase based on a memo. Unless that memo was somehow included in the contract allowing you to walk if it didn't come to fruition.
     
    Steve Fatula likes this.
  12. bazzap

    bazzap Tug Review Crew: Rookie TUG Member

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    I doubt they would go down this path, but if they were to it could seriously disincent many enrolled weeks owners from electing their weeks for points, which could significantly reduce the available inventory for trust points owners / collective ILG properties qualifiers to access (especially in Europe and Asia) which I am sure is not what they would want.
     
  13. dougp26364

    dougp26364 TUG Review Crew: Veteran TUG Member

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    I look at it this way. If we REALLY wanted access to SVN, we’d walk across the street and BUY SVN. Then it wouldn’t matter what MVC May or may not be planning. Why would a rational person by MVC on a vague promise that they MIGHT have some sort of access to the SVN reports?

    We became and increased our MVC ownership because we like their product. We haven’t increased our Hilton ownership due to lack of locations in the Hilton system and we never bought into SVN for much the same reason. We bought Hilton because, at the time, we liked Vegas and Marriott didn’t have Vegas in their portfolio. We’ve thought about SVN but only because of the resort in Sedona (that’s where we would purchase) but didn’t buy because we don’t want to return every year and, their product doesn’t have enough locations for internal exchanging that we felt the cost was worth it to us.

    Sure I’d LOVE to have internal access to the Hyatt in Sedona. I think we’d even likely go to Key West at least once if we have internal access. But I’m not about to spend tens of thousands of dollars on a kiss and a promise........or a threat, from some salesman making promises which amount to their version of the speculation we read on TUG.

    Let’s face it, the sales staffs are guessing about what will happen in the future just as much as we are. They’re looking at what they want to happen from a salesman’s point of view and were looking at it through an owners point of view. Salesmen want a reason to get us to spend more money and we want more benefits for the money we’ve already spent and continue to spend in the form of MF’s.
     
  14. kds4

    kds4 TUG Member

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    I'm not saying it would be 'fair', but it would be one way to 'put teeth' into what sales has been pitching for years (if there are/were truly plans to make such a distinction become a reality).
     
  15. kds4

    kds4 TUG Member

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    It could be a disincentive for enrolled weeks owners to convert their weeks to points if they are among those that want to go to properties in the ILG portfolio (but I'm not sure how many there are in that sub-group compared to how many they can get to buy points based on this requirement to gain access). MVC has been saying all along that only trust points (not enrolled week elected points) would have access to 'new' inventory, but we haven't really seen a bright line distinction in what owners can reserve. I have both types of points, and I know I can't tell (so far). However, the ILG acquisition (from previous posts) has resulted in the formation of a 'new' points based land trust. If they wanted to draw a distinction, that would be as good a place to start as any IMHO.
     
  16. bazzap

    bazzap Tug Review Crew: Rookie TUG Member

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    Isn’t it only some sales people in MVC who have been “saying all along that only trust points (not enrolled week elected points) would have access to ‘new’ inventory”?
    I have never seen or heard this from MVC corporate or even at any of the sales presentations I have been to.
     
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  17. Superchief

    Superchief TUG Member

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    I find it difficult to believe that MVC would remove existing benefits or levels. Why would any of us trust them in the future if they eliminated something that we earned from our previous MVC investments? I wouldn't be surprised if they offer additional incentives and benefits for a new higher level of membership, but I really don't think current ones would go away or be devalued. If they did this, I would sell most of my MVC portfolio and never do business with the company in the future.
     
  18. JIMinNC

    JIMinNC TUG Member

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    SVN doesn't have anything in Sedona I don't think. Hyatt does, but it's not part of SVN.
     
  19. kds4

    kds4 TUG Member

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    I'm pretty sure over the last 9 years that I have seen posts from members discussing how sales has been presenting the argument that even pre-2010 enrollable weeks owners needed to buy trust points to "supercharge" what they have and ensure their ability to access new resort inventory. We've certainly been told that many times at many different sales centers over the last several years. I'm not convinced that it couldn't someday become a reality. Even in the governing documents, there is a differentiation between a 'Direct Member' (who owns pure trust points) and an 'Exchange Member' (who owns enrolled weeks). MVC has differentiated ownership types since the roll-out of the DC. However, in practice, both types of memberships have appeared to operate the same w/no obvious differences in inventory access. Because it has been that way, doesn't mean it has to stay that way given the language (unless someone interprets these membership types differently). I see nothing preventing MVC from at some point stating "X inventory will be available to Direct Members only" (meaning accessible only through pure trust points).

    They may never do it. My only point was that the 'new' ILG inventory provides a window to do it (if they chose to).
     
  20. kds4

    kds4 TUG Member

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    Removal of which existing benefits or levels are you referring to?
     
  21. bazzap

    bazzap Tug Review Crew: Rookie TUG Member

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    Yes indeed, I too have read all those posts.
    I am sure many sales people have been presenting this argument.
    Who knows, it may even come to fruition?
    I only believe what my contracts and MVC corporate have to say though.
    So I will disbelieve until one of these confirms otherwise.
    We shall see.
     
  22. Superchief

    Superchief TUG Member

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    The original post indicated that ...'Chairmans club was going away', .
     
  23. tiel

    tiel TUG Member

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    Neither. The impression we got was we need trust points to access the newly acquired inventory...a slightly different version of the old “supercharging” idea. He didn’t really say much about the ownership levels except that they were going to change and we would have different benefits than we have now.
     
  24. micromacguy

    micromacguy Guest

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    If you buy on the resale mkt and pay all the Marriott fees, are you enrolled as a points member the same as if you bought through Marriott sales, or are there restrictions I'm not aware of.
     
  25. TheTimeTraveler

    TheTimeTraveler TUG Member

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    Assuming you are buying resale points thru a private transaction and pay all the fees? Yes, you are enrolled as a points member just as if you purchased via Marriott.

    Assuming you are buying resale week thru a private transaction? No, only Marriott can "energize" a resale week into points.

    IMHO the best bang for the buck are resale weeks, but always buy where you really like to go......




    .
     

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