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Kathryn - Please forgive for this long answer, but it's my nature as a retired financial officer. You can interpret this, but here's what it says in the Form 10k dated 1/3/14. Please note that MVCD is Marriott Vacation Club Destinations. Pg 5 - "As of the end of 2013, almost 134,000 weeks-based owners have enrolled over 233,000 weeks in the MVCD program since its launch and, of these owners who have enrolled weeks with one of our sales executives, approximately 45 percent have also purchased MVCD points. Pg 11 - "As of January 3, 2014, we operated 62 properties (under 85 management contracts) with 12,829 vacation ownership villas ("units") and approximately 420,000 owners." My interpretation is that 134,000 weeks based owners out of 420,000 owners have enrolled their weeks, or about a third. Further, it sounds like about 45% of these 134,000 owners, have also bought points - that's about 60,000 of the 420,000 weeks based owners. I encourage you to go on the internet and read the Form 10k, at least parts of the Business section. You'll learn about the different revenue streams, how business in done, competition, etc. If you get to the "Inventory and Development Activities" section on pg 6, you'll note that the future is "asset light" meaning Marriott's Vacations Worldwide Corp intends to buy up weeks from owners or from developers, little resort development activity, etc. It sounds like points will become the currency for vacation packages, etc. which combine products from others with Marriott products. Building and developing new properties is not part of the current business model. I'm glad to be where I am with enrolled weeks, other weeks, and some points. Legacy owners seem to be in the best position to benefit from the future. We can also buy up some great resale weeks at wholesale prices.