It sounds to me that it is easier, and probably more profitable in the long run, to fix the management problems of a resort than to kick it outThat is a good question. Units they own can be sold to whoever they would sell the management rights to. Units that are conveyed to the trust could be pulled out as long as they still end up with enough points in the trust to cover what is already sold. I really don't know the legalities of that and I am sure it isn't easy. Having weeks conveyed to the Flex trust makes unloading the resort harder. I suspect they will just strongarm the BOD/HOA and they probably have enough votes now that the trust owns so much to do as they please.
It would be more profitable. I suspect Vistana has the same, but Marriott has their own renovation company; Marriott Renovation Services (I think that is what it is called). They have preferred contracts with suppliers and I suspect they act more as a general contractor. So they get more management fee revenue from increasing the MFs and revenue by being the contractor on the renovations. That is of course if Marriott Renovation Services wins the bids that they put out for the renovations, which with the voting power that VIstana has from within the trusts they can easily get in board members that are more inclined to go along with what they want.It sounds to me that it is easier, and probably more profitable in the long run, to fix the management problems of a resort than to kick it out
All of the members of the board have to also be owners, though they can be employees and owners at the same time. If SBP has a developer controlled board, why has Vistana let maintenance go for so long?Older Marriott resorts like Swallowtail and Steamside that ended up leaving were old enough (and pre Marriott?) that had fairly independent HOA's that were mostly owner controlled and when Marriott was in and said we need to raise the MF's X amount to keep it up to Marriott standard the HOA's would not capitulate to the very high number. I think all of the Vistana resorts including both HOA;s at SBP are developer controlled. They may have a single developer approved owner on the board and the rest are vistana employees. They will vote to approve any budget that Vistana lays on the table. The only way they will leave is if the developer wants to sell.
If SBP has a developer controlled board, why has Vistana let maintenance go for so long?
This is the SBP palmetto phase board:
Association Information YOUR CURRENT BOARD OF DIRECTORS Johnathan Ho, President & Treasurer* Sharon Harden, Vice President Michael Kinnett, Secretary* * Associate of Vistana™ Signature Experiences, Inc. So a single non Vistana associate at vice president.
This is SBP plantation phase board:
Association Information YOUR CURRENT BOARD OF DIRECTORS David Phillips, President Frank Keating, Vice President Elissa M. Shelton, Vice President Johnathan Ho, Secretary* Michael Kinnett, Treasurer* * Associate of Vistana™ Signature Experiences, Inc
2 Associates and 3 non Associates but Vistana vets the board nominees.
I don't think the MF's have been that low. The smaller one br are low but the larger one bedrooms are high IMO and the 2 BR at $1000 for dedicated 2 BR and $1200ish for the 2 BR lock offs for a non ocean front, no shuttle or beach club resort isn't particularly or dangerously low.
From HHI, I took a walking tour of Beaufort one year. It was supposed to be a nighttime ghost walk but every evening it poured so I had to switch it to a hot, humid daytime tour. You start off at the harbor. All of the pilings for the docking area where covered with thousands of palmetto bugs. It looked straight out of a horror movie, probably 3 bugs thick completely covering all of the wood down to the water.
What rain? I think this must be an older thread from last year.I have guests staying there this week. It's a big dance competition, and there are at least 18 families (only two families are my guests) that are vacating SBP for the roaches, which are even in the kids' beds. It's disgusting.
Downpours mean these bugs are making their way into the units when their homes outside are getting flooded.
Is this just a Vistana problem? Did they not spray well enough before the rain?
Talking to the front desk, they are doing everything they can to take care of the problem.
What would you do, if you were in a resort and the rain caused bugs to come into your unit? Would you just say what I see TUG members say all of the time, "It's a tropical climate, so an occasional bug will be in your unit." What if there are 100's of bugs in your unit, and it becomes a nightmare?