Trying to capitalize on their success at Big Cedar, Bluegreen has started a new development 10-15 minutes away from Big Cedar called Long Creek. They are luxury 3,500 square foot patio homes with a view of Table Rock Lake, pool table, media room with a 92" TV, a boat slip at Gage's Marina, and the use of the amenities of Big Cedar (which is 10-15 minutes away).
But, a summer week in one of these homes costs 58,000 points. Last time I checked, BG points are going for about $1.30 a point from the developer. If that price is in the ballpark, this means you are spending $75,000 for a week. That cuts out about 95% of the typical timeshare purchasers.
For a resort to be successful, the developer HAS to sell the weeks to the public. If they don't, then it becomes a noose strangling the developer, and eventually he will find a way to get rid of it.
If a prospective purchaser is willing to even consider spending $75000 for a single week, why wouldn't he buy the equivalent of a couple of months and buy a house on the lake outright?
Also, Bluegreen has a few very nice timeshares (Big Cedar being the nicest, in my opiniion), but too many of them are nothing special. Is a Long Creek owner really going to be that interested in swapping to a converted motel or run of the mill condo? I would think he would be more interested in a Hyatt, Marriott, Hilton, or other luxury chain where he would have more high end choices.
That leads to the main question: Will Bluegreen be able to market this facility and get it off the ground?
But, a summer week in one of these homes costs 58,000 points. Last time I checked, BG points are going for about $1.30 a point from the developer. If that price is in the ballpark, this means you are spending $75,000 for a week. That cuts out about 95% of the typical timeshare purchasers.
For a resort to be successful, the developer HAS to sell the weeks to the public. If they don't, then it becomes a noose strangling the developer, and eventually he will find a way to get rid of it.
If a prospective purchaser is willing to even consider spending $75000 for a single week, why wouldn't he buy the equivalent of a couple of months and buy a house on the lake outright?
Also, Bluegreen has a few very nice timeshares (Big Cedar being the nicest, in my opiniion), but too many of them are nothing special. Is a Long Creek owner really going to be that interested in swapping to a converted motel or run of the mill condo? I would think he would be more interested in a Hyatt, Marriott, Hilton, or other luxury chain where he would have more high end choices.
That leads to the main question: Will Bluegreen be able to market this facility and get it off the ground?