Announcing Tribute by Wyndham - Part of Ovation

[PeterS Moderator Find all posts View Profile Close PeterS]

Just got the email...

"Announcing Tribute by Wyndham

We're excited to announce a new Ovation by Wyndham exit option available exclusively to Wyndham timeshare owners. Tribute by Wyndham enables qualified owners to transfer deeded and non-deeded contracts to a family member at no cost.

To learn more about this and other Ovation by Wyndham exit options, visit myclubwyndham.com/ovation or call 855-312-9040 to speak with an Ovation by Wyndham representative."

Looks like another option....

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

What are the "other" exit options? (Transferring to someone always has been one.)

It's nice to see someone substantial in the industry even using the word "exit".

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

Ovations has two other current programs.

If you bought directly from the developer at select properties that they especially want back (desired for ARP or low MF- example larger Udi Myrtle Beach and Glacier Canyon, San Fran or National Harbor), you deed back the points and Wyndham will give you 3 years of points with no MF's.

If you did not buy direct or have CWA or another point property or even many non point deeded wyndham managed properties. You can it back to Wyndham (no cost to the owner) as long as it is paid off and up to date in MF's. Points properties take about 4-6 weeks from the time you call to initiate. Non points have to go through HOA approval and take about twice as long.

The new Tribute lets qualified owners to transfer to family member without paying the $299 transfer fee. Up to this point transferring to anyone other than Wyndham would require the payment of a $299 transfer fee. I have no clue what makes one qualified for this program.

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

What are the "other" exit options? (Transferring to someone always has been one.)

It's nice to see someone substantial in the industry even using the word "exit".

I thought your major gripe was that there are some timeshares, particularly those that you own, that cant easily be transferred.

as SallyHoover, wyndham will easily take back their product It almost doesnt matter where they are deeded. as the thought is they put these "takebacks" into their non deeded trust club, Club Wyndham Access

They will even take back weeks, that were never part of their points program, like the 2 I gave back deeded at Riverside suites in San Antonio


Pretty good business, they pay nothing for inventory they can later re sell for $200/1000 points

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Pretty good business, they pay nothing for inventory they can later re sell for $200/1000 points

Pretty much the point . . . that if "they", any "they", won't take something for free, "they" are pretty much telling "their" owners the real value of what they own.

So when you get to the Big Boys, no need to name names because we all know who they are, it takes some HUGE sleaze to sell something to someone for $25K, or whatever, that someone they already sold to can't even give away.

So, one company supposedly is not doing that. Well, yippee!

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

Pretty much the point . . . that if "they", any "they", won't take something for free, "they" are pretty much telling "their" owners the real value of what they own.

So when you get to the Big Boys, no need to name names because we all know who they are, it takes some HUGE sleaze to sell something to someone for $25K, or whatever, that someone they already sold to can't even give away.

So, one company supposedly is not doing that. Well, yippee!

Yippee indeed

yes of course they are telling us what this stuff is worth on the secondary market.. we all know, not much more than nothing. But when you say "...cant even give it away" Thats just nonsense.. You can in fact give it away, Thats the point of this thread, is it not? Wyndham does have a program to enable owners to give it away, easily

They say, when it comes to realestate; You make your money when you buy the stuff. Im sorry you made a bad deal with what you bought years ago, and only now you realize what a bad deal you made, but you are going to have a hard time convincing those of us that bought our Wyndham points on the secondary market that our deal was just as bad.

There is no reason with Wyndhams Ovation Program, for a Wyndham owner to even understand what you are complaining about,, and by the way Wyndham is not the only one of the big boys to institute a buy back program

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Like I said before, it's nice to see one company making an effort to have an exit strategy. People not familiar with timesharing would be alarmed that it is a great service to owners to be able to give away something they paid thousands of dollars for, but it is.

It does make sense that the one timeshare company that boasts of being the world's largest vacation rental company would be the one willing to acquire rental inventory for free, like they acquire rental inventory for free in the exchange program. & it also makes sense that any company that does not have an extensive rental program would not take back anything, because all they can do with it is try to re-sell it. & if it is a resort past the marketing phase, the HOA doesn't want it at all.

If I understand, Sally, is the second scenario the only one that is actually an exit, not a transfer to someone else? Or can any owner truly exit at any time, assuming they are paid up?

An exit strategy board would be a nice addition to this forum.

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

We recently had a timeshare owner that could no longer pay the maintenance fees and wanted out, but couldn't afford the deed back fee. When the resort manager presented the situation in a board meeting one of the board members took it for the transfer fees. The resort does rentals and resales and takes back timeshares that are current with fees if a deed back fee is paid. I attended a board meeting a few years ago and presented the idea of taking deed backs rather than have non-performing weeks that would have to be foreclosed on and the idea was accepted. It is important that all timeshare owners get more involved in their timeshares and push for deed backs and resale and rental programs.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

We recently had a timeshare owner that could no longer pay the maintenance fees and wanted out, but couldn't afford the deed back fee. When the resort manager presented the situation in a board meeting one of the board members took it for the transfer fees. The resort does rentals and resales and takes back timeshares that are current with fees if a deed back fee is paid. I attended a board meeting a few years ago and presented the idea of taking deed backs rather than have non-performing weeks that would have to be foreclosed on and the idea was accepted. It is important that all timeshare owners get more involved in their timeshares and push for deed backs and resale and rental programs.

PITA owners can get associations to make changes, provided that the PITA owner is making relevant suggestions, ones that the association eventually concludes to be accurate. Let's face it, most timeshares owners are not involved enough, or do not care enough, to try to improve things.

Changes tend to come about when not changing becomes more of a financial burden than changing.

In the case of Fine Kettle of Fish, the POA of the development (not the HOA of the timeshare within the development) made almost the same observations as the PITA timeshare owner. & they made changes, too. Fine Kettle of Fish resort has initiated some sort of marketing program, after years without one, seeing the benefit of raising $$$ other than from owners' fees. I do not know if that includes a program of resales. If it did, takebacks would be welcomed, I would think, provided there is some actual value involved.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Another note on Fine Kettle of Fish:

All weeks in first 15 units of "Coopershares" include golf rights, so there had always been a strong resale market for them. People who did not otherwise own property in the development bought them "for golf". Ten years ago, when someone came into the Pro Shop asking about "membership", they were given the name of the timeshare owner at the top of the list. $7500 was pretty much the standard. So, there was an exit strategy.

In the last ten years, that ended because no one wanted to acquire the ongoing timeshare obligation to get golf, so the exit strategy ended.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I don't understand why an owner would object to there being an exit strategy. A point that seems to be lost is that if one knew they could get out, they would be more likely to get in.

& vice versa

The idea using captive owners for a cash cow has pretty much run it's course.

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

I don't understand why an owner would object to there being an exit strategy. A point that seems to be lost is that if one knew they could get out, they would be more likely to get in.

& vice versa

The idea using captive owners for a cash cow has pretty much run it's course.

You really have a mis understanding of how this thing works

When it comes to the traditional timeshare (some call them legacy resorts) the "captive owners" are not a cash cow for the developers. Once a resort is sold the developer is out of the picture. and the HOA is in control and HOA's are non profits

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

Once a resort is sold the developer is out of the picture.

Not entirely. A recent Wyndham presentation claims $63M contribution to EBITDA for 2012 in property management fees, that's more than 11% of the total from the vacation ownership segment (about $550M in 2012).

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

You really have a mis understanding of how this thing works

When it comes to the traditional timeshare (some call them legacy resorts) the "captive owners" are not a cash cow for the developers. Once a resort is sold the developer is out of the picture. and the HOA is in control and HOA's are non profits

Perhaps you have a misunderstanding of the words I type. As hard as I try to see it, I don't see "developer" in what I said.

HOAs do not want to risk the cash cow, either, so they keep owners captive with threats. But, then, you know that, because you know more than me.

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

Perhaps you have a misunderstanding of the words I type. As hard as I try to see it, I don't see "developer" in what I said.

HOAs do not want to risk the cash cow, either, so they keep owners captive with threats. But, then, you know that, because you know more than me.

Im sorry I missunderstood your post>> "cash cow" to me implies a profit motive

Im trying to say that just because a developer has a profit motive doesnt make everything they do a bad thing.. and for many resorts, (the ones where the developer is long gone, There is no profit motive at all.


Related to this thread, however, dealing with one developer and their deedback program, a discussion about the timeshares that you own are completely irrelevant except as a point of comparison... so thanks for that. It further confirms that my decision to buy in a big, profit motivated developers club was the best decision for me.