Need advice regarding banking a week from Starwood

[SDSunshine Member Find all posts View Profile Close SDSunshine]

Hi there,

We just went into escrow on a Sheraton Desert Oasis deeded week 14 (floats 1-52) 2BR LO. I am wondering how to get the best of my 2008 use. I know escrow won't close for a couple of months, which is right at week 14. I would really like Starwood to bank my weeks to II during the Spring as it trades the best.

Would it be too late for me to take posession of my week in April and then bank it (as 2 separate 1BR weeks) with II and ask them to "retroactively" pick a Spring week? Or would I be able to get them to give me 1 2009 Spring week to trade with?

My last resort is to ask the seller to help me bank the week while the escrow goes on. But I don't think they will really spend much time doing it and I might just end up with an aweful week from Starwood (summer in the desert ) or with a weaker trader (orlando).

Thanks for any help! Katherine

[Art Member Find all posts View Profile Close Art]

Starwood has a bad reputation for doing bulk space banking of the least valuable weeks. Asking them to pick a week and deposit it for you will probably not get the most trading power.

Art

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

My floating week strategy is to reserve a good summer week (winter if ski area) and then deposit it about 90 days from the occupancy date. Once you reserve the week, you should then be able to do a request first (I haven't yet tho) or make the deposit after some time (to prevent the bulk banking and reassigning your reserved week.

[SDSunshine Member Find all posts View Profile Close SDSunshine]

My thought is the same -- reserve a week and then bank it. But we need a Spring week (the strongest in the desert) and that is coming up so if we reserve it now, we will be under the 60day mark to bank it.

I wonder if they would reserve a 2009 Spring week for us with our 08 use year? Or perhaps try to reserve week 52? UGH. Starwood IS hard to deal with as far as their deposits are concerned, and part of me wants to be in control of this so that the seller (who could care less) would not mess it up.

Any other suggestions on how to approach this. Seems like buying resale with 08 use right now puts the buyer at a disadvantage for that year....

Kath

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

Yes, Starwood is difficult to deal with regarding deposits. It is unlikely that they will deposit a 2009 week for you, using your 2008 week. They will tell you that they will give you an existing deposit.

I think the best that you can do under these circumstances is try and get the best previously deposited week from Starwood, that you can. When you call them, have a number of choices ready, and keep your fingers crossed.

BTW, unlike some other companies, you can not deposit your Starwood week, on your own. So, if you reserve a week, and then call 2 months later to have it deposited, they will still try to give you a week that has been previously deposited. IMHO, your best shot with Starwood is asking for your deeded week to be deposited. (Assuming that you like your deeded week, of course.) Even though they use floating weeks, they seem to be somewhat willing to deposit your deeded week.

PS......If you are going to deposit your week in an exchange co, other than II, then you can make the deposit on your own. So, if for instance you wanted to deposit in SFX, then you can request the best week possible, and deposit it into SFX, without the worry that Starwood will take back your week, and give you an existing deposit.

Good luck!!

[JudyS Senior Member Find all posts View Profile Close JudyS]

Interesting advice on this thread!

Could a moderator move it to a different board, where it will be seen more? (It's currently on the II Exchange Opportunities board, and it's not an Exchange Opportunity.)

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

Interesting advice on this thread!

Could a moderator move it to a different board, where it will be seen more? (It's currently on the II Exchange Opportunities board, and it's not an Exchange Opportunity.)

Good idea Judy. I don't frequent the II boards as I don't deal with them so never would have noticed this myself. Moving to Starwood.