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What happens if Marriott sells any Vistana property?

Discussion in 'Vistana Signature Experiences (formerly Starwood)' started by DannyTS, Nov 6, 2019.

  1. JIMinNC

    JIMinNC TUG Member

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    Location:
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    Resorts Owned:
    Marriott:
    Maui Ocean Club
    Waiohai Beach Club
    Barony Beach Club
    Destination Club Trust
    HGVC:
    HGVC at Sea World
    But when you buy any trust product you are not buying a right to any specific resort. You are only buying an interest in a trust. When you buy a trust and a new resort is later added, you have just as much a right to book that new resort as one of the resorts that was owned when you bought. It would seem to reason that if the trust can add new resorts/weeks they could also remove them as long as they replaced the value of the removed intervals with others of equal value.

    I don’t think anyone should buy into a trust with the expectation that they will be able to access any specific property. Sales can promise anything, but I don’t think trust ownership conveys occupancy rights to any specific interval. You are just a co-owner in a sense of whatever the trust owns and that can change over time.
     
  2. jabberwocky

    jabberwocky TUG Member

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    Resorts Owned:
    SVR, SDO (EOYE), WKORV-N (EOYO), Westin Flex (EOYO)
    The terms of the Westin Flex trust (and probably the Sheraton trust as well - haven’t read through that one) allow the trust to move weeks in or out of the trust as they see fit.

    Keep in mind that if the intervals were moved out of the trust they would either have to have a buyer lined up to take the weeks over (and pay the MFs) or pay for the weeks themselves - unless the resort was closing.
     
    CalGalTraveler and DannyTS like this.
  3. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    Location:
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    Resorts Owned:
    Marriott's Grande Vista
    Marriott's Harbour Lake
    SVV - Bella
    SVV - Key West
    There is also a Vista owned property in Puerto Vallarta that they are planning to convert to timeshare. I wonder if that is possibly on the block for sale?
     
  4. JIMinNC

    JIMinNC TUG Member

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    Location:
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    Resorts Owned:
    Marriott:
    Maui Ocean Club
    Waiohai Beach Club
    Barony Beach Club
    Destination Club Trust
    HGVC:
    HGVC at Sea World
    If they were planning to sell a flex-owned property - for example, something like the Westin Cancun Resort that is part hotel/part flex-owned timeshare - then I assume any entity buying the hotel would also agree to buy the trust-owned weeks so they could convert them back to hotel rooms/suites. Since they said any sales would be "non-core assets" I would think the developed properties that would be the most likely candidates for sale would be the combo hotel/flex timeshare properties like Sheraton Kauai and Westin Cancun, where there are only trust/flex owners and no individual weeks owners. Without individual weeks owners to deal with, it would seem to be fairly easy to convert the property back to a hotel if they wanted to. Any property with individual weeks owners would be much more difficult, if not impossible to de-timeshare and sell.

    I suspect, however, that most of what they are trying to sell is the undeveloped land rather than these combo hotel/timeshares.
     
  5. bogey21

    bogey21 TUG Member

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    My guess is that the first half of the above statement is correct; i.e they can sell any Weeks they want to at their discretion. I'm not so sure about the replacing them with others of equal value part...

    George
     
  6. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    Marriott's Harbour Lake
    SVV - Bella
    SVV - Key West
    They just can't drop the total number of points owned by the trust to where it would be less than the total sold. So there is not necessarily a need to replace sold weeks, as long as they can cover all sold points with what the trust owns.
     

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