Another ROFR!

[ada903]

This time I was the buyer. Marriott bought back an annual island view two bedroom at Marriott Waiohai Beach Club.

Is there a trend here? Last week they bought from me a two bedroom oceanview at Marriott Kauai Beach Club.

 

[TheTimeTraveler]

This time I was the buyer. Marriott bought back an annual island view two bedroom at Marriott Waiohai Beach Club.

Is there a trend here? Last week they bought from me a two bedroom oceanview at Marriott Kauai Beach Club.

Sounds to me that Marriott may have figured the bottom may have been reached in this market and it's now time to gather inventory that they can generate points for (it's cheaper than new construction). Also, they may have buyers waiting for specific weeks at particular resorts since they still do quietly sell weeks for those buyers who want an actual deed.

Obviously you were trying to get something they wanted!







.

 

[GregT]

Adriana,

I suspect they are ROFRing properties where they don't have good representation in the Trust -- Waiohai is definitely not well represented -- and it also represents a good point value for the Trust. Kauai Beach Club is also not well represented in the Trust, but is better than Waiohai.

Over time, we may probably figure out a rough formula, such as the contract price must be more than [25%] of the equivalent value of the Trust Points to pass ROFR.

So, if a Waiohai Island View is worth 4,225 points to the Trust, when deposited, we know Marriott can sell approx $42,000 more of Trust Points if they ROFR the week and deposit it to the Trust.

If 25% is the right variable (it's a guess, it actually may be lower because they have alot of inventory still to sell and may only ROFR the really good deals), then your sale price must be more than $10,500, or they will ROFR it.

Out of curiousity, how much were the contract prices for the Waiohai and the Kauai Beach Club?

Thanks and good luck!

 

[just_playing]

Just last week ROFR was waived for me for the purchase of 3 bedroom in LV

 

[ada903]

Greg, $7,000 for Kauai two bedroom annual oceanview, and a great deal of $3,500 for annual two bedroom island view Waiohai.

 

[GregT]

Greg, $7,000 for Kauai two bedroom annual oceanview, and a great deal of $3,500 for annual two bedroom island view Waiohai.

Wow! You are a good negotiator - makes sense on the Waiohai ROFR, especially. Good luck with the next one!

Best,

Greg

 

[BocaBoy]

I am currently in Maui and I just met someone who owns three ocean front weeks at the Maui Ocean Club (Lahaina/Napili) and has been trying for several months to add a 4th comparable week on the resale market rather than buy points. He has had four offers accepted and all four have been grabbed by Marriott under ROFR. I do not know the prices involved.