Back from WKORVs

[Denise L]

1. WKORV pool was full every day, but the North property had plenty of chairs...could it be owners from North prefer the WKORV pool?

I met North owners this week who were all at the WKORV pool. I'm sure that they (and their kids) prefer it. Much more open, deeper, it's got the slide, etc. Yes, the WKORV was very crowded. I could never find a single lounge chair unless it was like 4pm. Folks were laying out on the grass.

 

[DeniseM]

Denise - are you home?

 

[Denise L]

Denise - are you home?

Yep, I am home. That was a fun thread while I was gone, too. No more photos for awhile .

We really had a great week! Forgot all about home. Snorkeling was excellent and the weather was great. I've just got to figure out my strategy for booking my 2009 week now .

 

[skim118]

The rumors about "taking over" Intrawest are funny. Intrawest is the developer of the Honua Kai project. The first building will be done in about 10 months and they already started the foundation for the second building.

We were at the Honua Kai sales office this morning talking to the sales person about rumors. He said he has heard them all. He gave no indication of problems at Intrawest. At Honua Kai they have 620 units and 580 are sold.

He did say that Westin has laid off some sales people b/c they are running out of product to sell.

The lot next to the last Westin building will be a park. And Westin bought the next lot from Intrawest to build more timeshares.

Of course this info is from the Honua Kai salesman

Aloha,
Jen

There are rumors about Intrawest capital structure; the issue is debt servicing and it's hedge-fund parent Fortress Investment Group has too many "dog" companies in it's portfolio and they may be forced to sell their high-quality companies like Intrawest given the tight credit markets.

The likely buyer could be vultures like Starwood Capital(unrelated to Starwood Hotels).

Also I question the validity of Honua Kai salesman info about the units that have been "sold" already. If sold implies deposit taken, we will soon see many of these units back on the market again.

 

[taffy19]

Lot 3 was owned by Playground (Intrawest) and was sold to Starwood 2 years ago. Currently Starwood is negotiating with the sewage plant across to the street to cap it, like they do in cold northern locations on the mainland, to cut down on the stink which blows southeast from the plant diagonal across Lot 3 and drifts into Lot 2.

IntraWest is also in on this since they sold the land to Starwood and I get the feeling our Canadian friends pulled a fast one on poor old Starwood – all of this is just a rumor I heard 1 month ago.


Lot 4 is the Honua Kai, where we own a 1BR unit and will take possession in March of '09.

I read in the paper some time ago that this was a done deal. I hope it is. Does anyone know? We drove by there twice this week and one day we smelled the sewer and one day we did not. It must depend on the wind. It needs to be capped.

 

[Matsi]

Hi SD Kath and Denise,

Just want to follow up on this "view" issue. I have read from your other posts that the danger of IV at WKORVs is that you might look at a parking lot. Is that also a potential problem with OV at WKORV or can I be sure of an OV if I buy OV at WKORV? (That is assuming I call 12 months before I want to go)

Thanks a lot.

 

[LisaRex]

Hi SD Kath and Denise,

Just want to follow up on this "view" issue. I have read from your other posts that the danger of IV at WKORVs is that you might look at a parking lot. Is that also a potential problem with OV at WKORV or can I be sure of an OV if I buy OV at WKORV? (That is assuming I call 12 months before I want to go)

Thanks a lot.

Unfortunately, some of the OV rooms do overlook a parking lot at WKORV. The OV rooms at north get better views overall. OF at WKORV are much better than OF at north.

 

[DeniseM]

Hi SD Kath and Denise,

Just want to follow up on this "view" issue. I have read from your other posts that the danger of IV at WKORVs is that you might look at a parking lot. Is that also a potential problem with OV at WKORV or can I be sure of an OV if I buy OV at WKORV? (That is assuming I call 12 months before I want to go)

Thanks a lot.

I believe that all of the units, on both the north and south sides of Bldg. A and B, all floors, are designated ocean view. I once stayed in Bldg. B, bottom floor, on the south side, facing the park, in the unit farthest away from the beach. It had a huge AC unit outside it, and you couldn't see much of anything, much less water, and it was designated ocean view.

However, that was a rental, For our own OV unit, always reserved at 9:00 am, 12 mos. out, we have gotten good views.