Marriott Intl Plans to Spin Off Timeshare Business

[southgate2214]

I smell a rat!! It seems to me that the point system is just a way for them to sell the property's for a second time. How do they sell points to places that have been already sold out!! Hmmmm. Thank- you JW for making most of us feel that we've made a bad investment in Marriot. Our sales rep. assured me we would not ever lose aynthing. And we would never have a problem if we decided to un-load our "investment". Good Luck to ALL...

[TheBarryandcarol]

We also bought because of the Marriott name - and then find we cannot exchange within that brand - we have to pay to join Interval - where the service sucks and the exchanges are poor ..... then Marriott want more money to join their own share scheme - and still have to pay for Interval ... quite frankly this all devalues the whole Marriott brand. Equally we are stuck with ownership we cannot sell - nor readily exchange even within the "family". The customers - as usual - are the losers.

[ncaroldavis]

I am not connected with Marriott at all! We own 3 Marriott Time Shares and have NEVER had any problem with exchanges, service, or any of the things I have been reading here. If you add up all your expenses related to your Marriott Time Shares - points or weeks (we have both) you will find out that you are taking vacation in places you wouldn't have before had you not had the time share. Sure, we could take that money and choose to pay as we go...we would be at a Hampton instead of a lux hotel

[jolie3727]

I agree -the timeshare value is less and service is poor. I bought 2 weeks for points and points were devalued - and Marriott refuses to buy back - said I was on my own. I bought into the Destination Club based on a presentation and the more I learn the worse it is!  I tried to get rid of it but I'm stuck! Extremely dissatisfied with the whole program and I'm stuck with high fees - and no way out! Did you see the recent TV piece on fake positive reviews and comments around vacations?

[jolie3727]

I agree with the comments about owners getting the short end of the deal. I ran into a slick salesperson and foolishly bought into the Destination Club and now I can't get rid of it. I have 2 weeks for points and now points are devalued. I called Marriott resales and they said I was on my own to resell - they weren't buying back properties! I think all positive comments are by Marriott - did you see the piece recently about fake positive reviews???

[garciatrixie]

My suggestion: 1) adopt points in place of the week system so we don't waste a whole week for just a couple of days vacation 2) require more points to exchange during peak months 3) bank unused points 3) drop Interval Intl and use RCI instead.

It works with others - it should work with us.

[garciatrixie]

It will be Marriott's loss if they abandon us, the 400,000+ timeshare owners. If we have been effective in spreading the good word about them in the past, then we could likewise be effective in undoing that, and cease patronizing the Marriott chain of hotels as well as using our Marriott credit cards. Therefore, let's use this comment box to post our thoughts so we can come up with what's best for us. I'm sure that our various board of directors are monitoring our comments. Suggestions next.

[allynswood2]

Marriott has to answer to its timeshare owners who suffer outrageous maintenance fees and no market for resale. Marriott should acquire all of the properties it has sold and relieve it agrieved owners some respite from being ripped off.

[allynswood2]

Will this move continue to allow Marriott to rip off its timeshare owners with outrageous maintenance fees and no market for sales of units they have sold to unsuspecting timeshare purchasers.

Marriott has no commitment to its timeshare owners. It sells units based on enticing purchasers with visions of increasing values and then offers no service to assist owners who want to or need to sell. We need a good blog to share experiences and warn potential buyers not to buy.

[acquatone]

We read a Wall Street Journal article entitled DUMPING TIMESHARES by Al Lewis ("Al's Emporium") on Sunday, Feb. 20, 2011. Very concerned about this action by Marriott. The article states that Marriott wants out of the timeshare business as it has become a losing proposition particularly in a down economy, & the recovery is not producing any more free-spending time-share buyers. Also, more owners are not paying their annual maintenance fees, causing resorts to hike fees. Can you say ROOKED?

[itaub100]

I think Marriott owes a CLEAR AND UNDERSTANDABLE explanation to its owners. If not, there can be bail outs which could potentially harm us all. Marriott, do the right thing and stand behind the reason we bought Marriott properties and not other timeshares in the first place.

[sportsnut1972]

@yepfuchs - I have been trying to sell one of my timeshares. Harbor Lake (Horizons) was at 90% full, but since they decided to buy more land this now is at 30%, which NO ONE can do a resale. Marriott does not fully explain timeshares. Interval International sucks. Our timeshare are now exchange for points. I have tried to get rid of the one, but no one wants it. I have tried to sell one for $8k, & retail is over $13k. The maintenance fees increase every year with no monthly payment options.

[4nancerz]

Marriott is setting themselves up to do a corporate re-alignment which is great for the shareholders and executives but bad for timeshare owners. The slick marketing that promised access to the fine Marriott brand when we bought in is being diluted. First we buy a premier week because that gives us superior trading power and now they come up with a Destination Club (with an additional investment of 30% more) to trump the premier program and create a new premier. This stinks

[idobox1]

The truth is that access/use of Hotel facilities is paid for through our yearly fees. The hotel will raise the access fees to the point that the timeshare owners can't afford to sign a new contract with the resort property. The question becomes can we afford access to our adjoining Marroitt resort . Just ask all the Desert Springs Villas owners that can no longer afford to "access" their adjoining resort property in Palm Desert, CA. Shame on you Marriott.

[c20854]

Since the video & the WSJ article by Al Lewis (Dumping Timeshares) my email box has been filled from Timeshare owners around the world, asking how they can be heard and protected as Marriott spins off MVCI, the timeshare division. I encourage the 400,000 plus Time share owners to invest $40 & purchase at least 1 share of Marriott (MAR) stock now & own the new company. By working together our challenges ahead can be successfully overcome. Join our coalition and be heard. Allan Cohen

[larrythelen]

You have told us nothing—except to put us on notice that you're doing something to us which you do not really want us to understand. When you say that nothing will change, we simply don't believe you. Things have already changed. We can no longer obtain the weeks of our choice by being diligently first in line. Next we're told that it is not ALL of the units at Newport Coast that are available but only some number that is to shrink over time. Not at all what we signed up for in 2003.

[okcrazies]

I am not convinced, although it appears others in here think it will help. I hope it improves resale capability. If anyone wants to buy my gold week at Newport Coast for less than current asking price to okcrazies-vacation@yahoo.com and let me know.

[jagbear1]

i smell a rat......

[rjiura]

Big Surprise and the reason is simple...........they can not sell new timeshares and now go to point system, many owners not paying their yearly fees so the fees will continue to rise, and bottom line revenues have fallen over 30% since 2007. For the price you pay in fees for a week Timeshare in Hawaii you can rent a place for the same or less anywhere you want to go and not worry about fees changing.............MARRIOTT wants out....RJ

[aekatz]

This is just a way for Marriott to isoltae themselves from a losing proposition which is exactly what the timeshare business has become in the last few years. Caused mostly by a glut of unsold inventory and the ever increasing maintenance fees to existing owners. Unfortunately there is small to no resale market for unwanted timeshares.

[SNACKTIE]

Hope we don't get ignored with the new structure + the property value do not drop sharply (linked to the publicly traded stock value)!! ... just my thought!

Wishing you all the BEST of Luck... (may be, this is a good thing...)

[JPL2503]

This is our second try at posting, whats the problem with approval????

Will Marriott retain 51% ownership. The new board will be making all future decisions, good or bad, thus deflecting any heat away from Marriott. Sounds like a long term sellout to us....

[JPL2503]

Will Marriott retain at least 51% ownership? What will be the makeup of the new board? The new board will be making all future decisions, good or bad, thus deflecting heat away from Marriott. Sounds like a long term sellout to us. We are multiple week owners and are very concerned....

[jeffweissman]

Public companies spin off parts of a business because it will make one of the companies more valuable with out the other. Which one is the more valuable? Its the Hotel part of the business. Development is where the money is made, not management. Cost to build out a 1200ft 2br condo cost under $100K. You have 5 months of prime weeks each selling for $40K.Thats $800K plus selling the non prime weeks for $10K for another $180, all per unit! For a total of about $900K per unit.

[extremerandomrebecca]

I have been a multiple week owner since 2005 & am extremely worried and disappointed. Not only are we charged to enroll in it, Destinations devalues our current timeshare week interests by assigning "more points needed" to some weeks other than 51/52. It doesn't allow us the same flexibility to the weeks we are currently able to reserve. Also, reservation procedures have changed, not to our benefit. Now Marriott plans to "Spin Off". We should all be extremely disappointed & concerned.

[surprisevisitor2000]

@extremerandomrebecca

May I ask how did the reservation procedures change in your experience? I was anxious about such a devaluation when I heard of the points deal, but I experienced no change when I last went to reserve our unit in Maui for 2011.

[marriott]

@yepfuchs As Bill Marriott states in the video, he is committed to the timeshare business. He's a major shareholder and his name will remain above the door. There is no change in rewards points. Guests will still have access to Marriott resort facilities where they currently share amenities. It will be seamless.

[lesleymny]

Will timeshare owners and guests still have access to Marriott resort facilities where they currently share facilities/amenities?

[marriott]

@lesleymny Nothing changes. You will still have access.

[idobox1]

The truth is that access/use of Hotel facilities is paid for through our yearly fees. The hotel will raise the access fees to the point that the timeshare owners can't afford to sign a new contract with the resort property. The question becomes can we afford access to our adjoining Marroitt resort . Just ask all the Desert Springs Villas owners that can no longer afford to "access" their adjoining resort property in Palm Desert, CA. Shame on you Marriott.

[sandradlc2317]

I am so happy to see we will have more options without use of Interval. And I hope you stay true to your word spoken I love your work. That's why I own with you !!! 

[EyeQSue]

Love my Marriott Timeshares...keep up the great work.

[bmccarthy97]

Large businesses frequently 'spin off' portions of the business, making them easier to divest themselves from the main company.

The Timeshare portion of Marriott will be sold within five years in my opinion.

If you want to keep a business and make it a core portion of your business, then why make it a separate entity?

[adammarina]

I am confused as to how it would we to the exchange ?

[marriott]

@adammarina  I'm not sure I fully understand your question. Nothing changes.

marriott 23 seconds ago

[jtimmerm]

There are many that fear this split of companies is the precursor of a sale of the TimeShare business. As a Destinations and multi-week owner, I for one am worried. Time will tell.

[marriott]

There's a fantastic leadership group in place and the economy is rebounding. Thanks for your support.

[fastdiscgirl]

Thanks for the video about our time share changes. We hope it remains strong as ever.