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New Properties Comment

J

jramat

TUG Member
Joined
Oct 22, 2006
Messages
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Location
St. Louis Missouri
While attending owners update meeting here at Kierland, salesman said an announcement is coming in the fall about 3 new properties. I pushed for information but no cooperation. We'll see.
 
jramat said:
While attending owners update meeting here at Kierland, salesman said an announcement is coming in the fall about 3 new properties. I pushed for information but no cooperation. We'll see.
Click to expand...

I wonder what the salesman would have said if you told him "I will consider buying when I know where the 3 new properties will be". I'm sure he'd have made something up in the spot - true or not.
 
Mars (dry), Venus (tropical), and Pluto (skiing)...
 
I can't see this being true. They are more focused on selling the new Flex Points program now. I can't see 3 new properties coming online concurrently. More or less wishful thinking.
 
jramat said:
While attending owners update meeting here at Kierland, salesman said an announcement is coming in the fall about 3 new properties. I pushed for information but no cooperation. We'll see.
Click to expand...


Pure sales nonsense. Don't believe a word this guy told you, about anything, since this one comment discredits it all. Only believe what you have in writing and nothing - nothing - else from the SVN worse-than-used-car sales staff.


Sent from my iPad
 
Do we think SVN will ever (foreseeable-next 10 years) add new properties? It seems like a profitable model- you build condos worth $200k-$700k and sell them over 52 weeks for 3-4 times that and then lock in non competitive management contracts forever. It seems that as credit continues to be cheap that they would eventually add some. Am I missing something? I know they can repurchase resale inventory and resell- but it would seem new and shiny resorts would sell more and that having more profitable management contracts would only be a win for them.
 
djp said:
Do we think SVN will ever (foreseeable-next 10 years) add new properties? It seems like a profitable model- you build condos worth $200k-$700k and sell them over 52 weeks for 3-4 times that and then lock in non competitive management contracts forever. It seems that as credit continues to be cheap that they would eventually add some. Am I missing something? I know they can repurchase resale inventory and resell- but it would seem new and shiny resorts would sell more and that having more profitable management contracts would only be a win for them.
Click to expand...

As long as they have the ability (and uninformed owners and prospective owners willing) to churn accounts, no - that is, receive income from requalifying, overselling the current resorts with the new flex system, take back certain weeks and upsell.

Right now there is no incentive for them to develop at new locations.
 
cubigbird said:
As long as they have the ability (and uninformed owners and prospective owners willing) to churn accounts, no - that is, receive income from requalifying, overselling the current resorts with the new flex system, take back certain weeks and upsell.

Right now there is no incentive for them to develop at new locations.
Click to expand...

It certainly appears you are correct. Starwood has no visible sign of building a shiny new destination property. I agree looking from the outside it seems it would be highly profitable. From their current inventory I have no interest in adding to what I own.
 
Most timeshare companies/groups are SALES oriented ... not builder/developer organization. And many would rather buy a finished product than build NEW - too long to delivery a final product, too much uncertainty, too expense for all the various types of financing, etc. Buying a finish product (like a bankrupt condo project) to sell has to have the right location & square footage - those are few & far between particularly as the economy improves.

Mergers have been popular of late - Wyndham buying Shell Vacation Club, for example.
 
what i got from talking with the sales people at SDO is that they do have something in the works. they are really not considering building from ground up what they are doing is taking already existing starwood hotel properties and converting several floors to timeshare. this i believe to be true. they understand they need more sites and this is a much more economical way to have more sites.
 
I've seen this tactic in other sales presentations and could not find the word for it. I looked this up back then and thought I'd share it now.


From English Grammar & Usage:

"dissimulate (or dissemble); alternatives include prevaricate (avoid a direct answer) equivocate (give an ambiguous answer: "you will emerge from the war with the Romans victorious"), and obfuscate (give a confusing answer that serves to hide the real information), but all of those require you to say something. Only dissimulate implies you say nothing at all: a lie of omission (cf. lie of commission).

On a different tack, there is both non-disclosure and maintaining confidentiality, which both mean to purposefully withhold information, but usually the intent is to protect one's own interests, rather than mislead.

To keep mum (and synonyms) is similar, except that's typically applied to someone who has transgressed (or knows about someone who has) in some way."
 
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