Structure
Originally, Marriott Vacation Club properties were sold as weeks. A "fixed week" granted the owner the right to use their villa during a specific week each year (such as week 52, which includes New Year's Eve), or the right to use their villa during a specific "season" (defined on a per-resort basis), which granted the owner the right to reserve their villa for any available week within that season. Weeks at some properties could be split, enabling a non-consecutive four-night stay and three-night stay. Weeks could be exchanged for Marriott Rewards (now Marriott Bonvoy) points. Finally, owners of multi-room villas, such as a two-bedroom lockoff, could split the unit itself and book each half as a separate reservation. Notably, owners cannot reserve villas at other properties without exchanging them through Interval International (II). "Weeks owners," as they are called, pay annual maintenance fees that supposedly cover maintenance and refurbishment at the resort.
The Marriott Vacation Club Destinations program changed this structure. Owners now purchase points at a particular property, which can be "spent" to reserve a villa for a given number of nights during a given season. Villa "pricing," in points, differs based on the size of the unit and the season. Points can also be used to reserve villas at other properties, without having to exchange through II. "Points owners," as they are called, pay annual dues, which cover maintenance and refurbishment, much like maintenance fees for weeks owners.
"Weeks" owners can "enroll" their week(s), for a fee, into the Destinations program, effectively converting their week(s) into points on an annual basis.
Marriott Vacation Club continues to sell weeks at some properties, particularly when they acquire weeks from owners wishing to sell them. Marriott Vacation Club has a contractual "right of first refusal" on all resales. If an owner obtains a purchase agreement for their week(s), Marriott Vacation Club can choose to pay the agreed-upon purchase price to obtain the week(s), effectively cancelling the sale. This approach can have the effect of keeping an owner from selling for below market value, since Marriott Vacation Club can effectively take the week(s) "off the market."
Each Marriott Vacation Club property effectively has up to two inventories of villas. Older properties' inventories consist mainly of "weeks owners." Newer properties' inventories consist mainly of points, wherein all available points are owned by a Marriott Vacation Club-controlled trust, and made available to owners who purchased under the Destinations program. Many properties have inventory of both weeks and points. It is important for owners to understand that these two inventories do not intermingle. For example, suppose an owner purchased 2,000 points at Property A, and wished to occupy a villa at Property B. Property B is an older property that was 100% sold-out as weeks. The owner will probably be unsuccessful, because there is no "points inventory" at Property B from which to fulfill their request.[7][8] It is important for prospective owners to fully understand the differences between the inventories and to ensure their purchase will afford them the occupancy they desire.
The creation of the Destinations program has been controversial and resulted in lawsuits.[9]
