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Vistana just exercised ROFR on WKORV-N annual IV 2 bedroom unit at

boisebruin

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$11k.

I know there's a separate thread for ROFR but I thought this was unusual and quite a high price for them. We are the sellers so their money is as good as others but does this signal a different approach for them? Inventory needed for the Flex program?
 

taterhed

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Sorry, that just seemed a little bit High not to pass, so where the maintenance fees current? End-of-year with approaching maintenance fees I think it would have probably passed

Tater on my Note8 tapatalk
 

boisebruin

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Sorry, that just seemed a little bit High not to pass, so where the maintenance fees current? End-of-year with approaching maintenance fees I think it would have probably passed

Tater on my Note8 tapatalk
Yes they were.
 

SteelerGal

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I wonder if Vistana is now trying to buy up properties to flex their Flex programs.
 

CPNY

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I wonder if Vistana is now trying to buy up properties to flex their Flex programs.
Or MVC is planning in rolling out a kickass program and they have to deal with mandatory resorts so they will take as many back as they can in the resorts that have ROFR. Who knows
 

pchung6

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This is the price seemed to be high not to pass. Maybe Vistana is trying to build up the Flex inventory and ready for the new announcement. It was just few months ago, I saw an WKORVN OV annual passed at 12.5k.
 

dioxide45

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Or MVC is planning in rolling out a kickass program and they have to deal with mandatory resorts so they will take as many back as they can in the resorts that have ROFR. Who knows
Only the two resorts on Hawaii are mandatory with ROFR. And they aren't even ideal weeks to buy for SO conversion.
 

gratiem

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Thanks for sharing. That is an unexpected ROFR, but at least you got the sale. Appreciate sharing the information.
 

CPNY

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Only the two resorts on Hawaii are mandatory with ROFR. And they aren't even ideal weeks to buy for SO conversion.
Nope def not good for star options, but it’s def a good sell for their flex program for them.
 

echino

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WKORVN EOY OF just sold via Redweek for $8,200. Probably not going to pass ROFR, but who knows...
 

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CalGalTraveler

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duplicate [deleted by Author]
 
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JIMinNC

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let me see, they paid 11k, they can sell it for 82K. Not a terrible deal

https://tugbbs.com/forums/index.php...or-nanea-and-resale-purchase-of-wkorv.291133/

So yes, it may be that they want to feed the Flex but it may as well be that they are running out of WKORV to sell and they just want to replenish the inventory. Even if it costs them a bit more, it is pocket change in the grand scheme.

Are they still selling deeded weeks there or are they just selling the Flex products? When Marriott created their trust and actually stopped selling US weeks, all ROFR acquisitions now go into the Trust. With the new ownership of Vistana, maybe the Vistana approach will mirror Marriott.
 

vacationtime1

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Are they still selling deeded weeks there or are they just selling the Flex products? When Marriott created their trust and actually stopped selling US weeks, all ROFR acquisitions now go into the Trust. With the new ownership of Vistana, maybe the Vistana approach will mirror Marriott.

[deleted by author]
 
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JIMinNC

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I thought the Westin Flex trust did not own any OF units on Maui. Unless that's wrong, this unit would be for resale or the DC trust.

The OP said the unit ROFR'd was IV not OF
 

controller1

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WKORVN EOY OF just sold via Redweek for $8,200. Probably not going to pass ROFR, but who knows...

But it would perhaps not pass ROFR for a different reason. They are not placing OF in the Flex program.
 

CalGalTraveler

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re: OF at $8,200. Okay deal but not a great deal if it passes ROFR (likely not unless they bundle the closing costs and MF). Here's why:

This is an even EOY. If the buyer pays for maint fees for 2019 and there is no reservation for spring or summer in place, the buyer may have a wasted year if fall 2020 travel is not desired because this will close after the peak summer season rental window. Plus probably difficult to rent for fall low season. Can bank and trade SOs but will not be guaranteed OF. Reserving other resorts could be trading a Lexus for a Chevy MF cost-wise plus a banking fee will apply offsetting the usage benefit.

E.g.

$8,200 Asking price
$2,750 MF (for wasted 2020 year)
$1,200 Closing in HI
$ 400 Title Insurance (?)
--------
$12,550 All In plus can't use peak season until 2022
 
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