Cropman
TUG Member
ANNOTHER NEW RESORT - The Marriott Beachside Resort is now in play too. This is located adjacent to the Hyatt Beach House. It very well might be the first announcement in the HPP's desperation to buy something.
Kal, you are certainly more in the know than me, but how does that even make sense? Not in Old Town, Beach House right there, and all the unsold inventory at what is a really nice resort at Windward. If they are going to add something, it has to be in Old Town. They can’t build from the ground up, not with all the Conchs upset about lack of affordable housing.
So, ILG could convert something or buy another timeshare. The Galleon has unsold units, but probably not enough during prime winter season. Although, it’s a slim possibility. The Banyon is sold out so, again no available units for prime season. And neither one would return the ROI.
So what to convert? The Marker? Ocean Key? Hyatt Centic (no chance)? Not a lot of choices down there. To buy something they will spend big bucks and have to sell a lot to make their ROI. They have backed themselves into a corner. Hawaii, which isn’t in the new program yet, isn’t available. Old Town Key West isn’t available because no one wants to give up their week at their ridiculous pricing. These two properties drive the program. (Some will say there are some ski weeks also.). They are starting to panic because the new program isn’t working and they are running out of options. Build or buy or do nothing?
I’m beginning to wonder if the rumors aren’t floated just to generate buzz. Anyone remember Aruba? The only way things will change is when the goofballs who thought up this program get “reassigned” and a new team comes in and lowers the barriers to entry for the HRC owners.