Do you think they'll actually build the new Orlando Lakeshore Reserve?

[icydog]

I bought two weeks before the market fell apart. I'm wondering if they, Marriott, will continue with the idea or if they will return everyone's money. I doubt there is much interest in another Orlando resort with the economy being what it is now. I'm hoping they decide not to build so I can get my money back.. Did anyone else buy into the the Lakeshore Reserve at the JW and Ritz Carlton Location in Orlando?

 

[Dave M]

I'm wondering if they, Marriott, will continue with the idea or if they will return everyone's money.

It's more than an idea. Marriott is committed to Lakeshore Reserve. It will likely take longer to sell than Marriott envisioned, buy there's no question in my mind: Marriott will proceed. Even the other resorts (in addition to Cancun) that Marriott had on the drawing board for initial sales in 2009 will still be a go, just not in 2009.

Marriott isn't going to stop developing new timeshare resorts. It's a very profitable business for them. The economy just puts everything in slow motion.

 

[icydog]

Have they ever stopped a project due to low interest? I'm thinking in this economy Marriott will find it near impossible to sell timeshares in Orlando. I guess I am an optimist. I'd like that gigantic outlay of money back now that I need it for other things== like heat and clothing.

 

[rsackett]

Have they ever stopped a project due to low interest? I'm thinking in this economy Marriott will find it near impossible to sell timeshares in Orlando. I guess I am an optimist. I'd like that gigantic outlay of money back now that I need it for other things== like heat and clothing.

I do not know about stopped but the two Horizons sure have slowed down.

Ray

 

[Pens_Fan]

It's more than an idea. Marriott is committed to Lakeshore Reserve. It will likely take longer to sell than Marriott envisioned, buy there's no question in my mind: Marriott will proceed. Even the other resorts (in addition to Cancun) that Marriott had on the drawing board for initial sales in 2009 will still be a go, just not in 2009.

Marriott isn't going to stop developing new timeshare resorts. It's a very profitable business for them. The economy just puts everything in slow motion.

What were the other resorts that Marriott had planned for 2009?

 

[dougp26364]

I believe Marriott also had plans for a Horizon's in Gatlinburg that was scrapped. I do not believe that project ever reached the intial preconstruction sales phase.

 

[dougp26364]

I do not know about stopped but the two Horizons sure have slowed down.

Ray

Marriott recently opend building 2, which is the third building to be completed, at Horizon's Branson. They also added a half court basketball court, a tetherball court and a fire pit to the property. The map still shows where buildings 3 and 4 will be and it shows 4 additional buildings without being numbered. I suspect that buildings 3 and 4 will eventually be completed but I doubt the project ever goes any further than a total of 5 buildings. Progress at Horizon's Branson is extremely slow.

 

[Dave M]

What were the other resorts that Marriott had planned for 2009?

I don't know what the latest plan was before I was advised last week that Cancun would almost certainly be the only resort to commence sales in 2009. But there are a number of threads, such as this one, that discuss Marriott's plan for new resorts. (Note especially, the 2008 posts in that thread.)

Update on Lakeshore Reserve - Despite the poor economy, Marriott is well ahead of its planned sales objectives for this forthcoming resort. It's clear that this resort will be a home run for Marriott. Not surprising. Even though many of us here at TUG might prefer to buy elsewhere, the rest of the world is in love with buying timeshares in Orlando. Why not? It's a great place to vacation!

 

[rickandcindy23]

Yes, Dave, it sure is a great place to vacation. We are staying in the new building, number 86, at Grande Vista right now, as a matter of fact.

We were invited to a timeshare presentation several times, and the big sales spiel is going to be for this new resort, which is being built behind Grande Vista (somewhere???). The person on the phone told Rick they wanted us to see their new project, will are going to be built more like townhouses than condos.

We declined the opportunity to attend the tour. No amount of money is worth the lies we heard last time.

 

[pwrshift]

Here is part of a 'financial' statement about Marriott TS on the latest post on Bill Marriott's blog:

Today, we're increasingly nimble in responding to demand trends. This includes our timeshare business, which we believe will weather the downturn just fine. Our timeshare business depends on consumers and while consumers are more cautious today, they haven't stopped in their tracks. As always, we're calibrating our timeshare investments to match customer demand, with a goal of timeshare generating cash in 2009, even in a difficult economy. We continue to offer financing for qualified purchasers and expect to be able to securitize these loans in 2009.

http://www.blogs.marriott.com/default.asp?item=2298372

Brian

 

[Vacation Dude]

No amount of money is worth the lies we heard last time.

I am sure you would do it for the "right price" or something ridiculous like $100,000.

 

[dougp26364]

I am sure you would do it for the "right price" or something ridiculous like $100,000.

But here we live in the real world. No timeshare developer offers that sort of incentive......even if you buy their most expensive week availabe. So Cindy's term "no amount of money" would be in reference to what timeshare developers have offered based on our collective past experiences. Generally those offers are in the neighborhood of $100 in value and not $100,000.

Personally, we're like Rickandcindy. There are no offers on the table from any timeshare developer that would intice us into giving up a couple hours of our lives to listen to what is normally a bunch of half truths at best and, at worst, a bunch of out and out lies. I'm still waiting for that Branson Disney resort in Branson timeshare salesman have been lying about.....excuse me..... talking about for at least the last decade.

 

[icydog]

I'm sitting in Mc Ds typing on an iPhone. How cool is this? I'm 62 so all this stuff is amazing to me


I have never had a problem with a Marriott tour but I know Cindy has. When will the Reserve be built?

 

[iamnotshopgirl]

I was at Sable Palms last week Dec.7-14. Upon checking in and receiving a welcome package I was encouraged to sign up for the Lakeshore Reserve pitch. Incentive was 15,000 pts or $100. I told him "NO", he persisted. I did not know what part of "NO" he did not understand so after 5 minutes of him keeping on asking me to go I said "YES" and he stopped asking me the question. So I figured that he must think that a "YES" response means "NO" and a "NO" response means "YES". Either way I did not go!

On a side note: I spoke to several locals concerning business in Orlando and how the economy was affecting them. Business at area restaurants (Route 192, Downtown Disney) report since September business has been off considerably (seasonable) and has only picked up in the last couple of weeks. Some have laid off employees or have closed for extra days during the week. At Sable there were empty villas and from what I saw at the other Palms were the same. I would think the same at Grand Vista and Cypress Harbour. Disney has the shell just about complete on there new timeshare next to the Contempory (Finger Lakes???) not sure of the name. Ride wait times were short in the park. I had a great week...good weather.

bob

 

[Bill4728]

We were invited to a timeshare presentation several times, and the big sales spiel is going to be for this new resort, which is being built behind Grande Vista (somewhere???). The person on the phone told Rick they wanted us to see their new project, will are going to be built more like townhouses than condos.

We declined the opportunity to attend the tour. No amount of money is worth the lies we heard last time.

My DW said we should go to the sales presentaion when we were in NCV last month. Knowing I'd be hearing the salemen lies, I was prepared to call him on his lies. And wouldn't you know it, He got mad at me because I called him on the lies??

That you never could pass ROFR with the low prices which we're seeing on Ebay these days. :hysterical:

When I said the new points system was a significant step back, he kept saying I was wrong and he didn't have to listen to my bad mouthing Marriott. :hysterical:

I had fun with the whole thing, But DW was embarressed by the confrontation.

 

[icydog]

I did that once. It prolonged the whole experience. My DH and I have a pact now. We will ask no questions, give no anecdotes, and not add to the presentation in any way.. all this in an effort to get the heck out of there and get paid our money.

 

[mas]

Have they ever stopped a project due to low interest? I'm thinking in this economy Marriott will find it near impossible to sell timeshares in Orlando. I guess I am an optimist. I'd like that gigantic outlay of money back now that I need it for other things== like heat and clothing.

It seems to me that when Marriott introduced the Horizons brand that they planned the Orlando, Branson, and a Gatlinburg, TN resort. They obviously built the Orlando and Branson properties but dropped the Gatlinburg plans and have since merged the Horizons brand into MVCI. Too bad, I would have been interested in exchanging into Gatlinburg.

 

[rsnash]

I wish they'd build a Marriott on Cape Cod. There's enough in Orlando already. Most of the TS on Cape Cod seem like motel conversions. It would be great if there were one as nice as Marriott. And maybe if it were Marriott, I'd have a better chance to trade in!

 

[Dave M]

Don't hold your breath. Marriott has made it clear that it wants to focus on building in locations that have a year-round (or most of a year-round) tourist high season. Cape Cod, which is basically summer-only plus a few holiday weeks, doesn't come close to meeting that test. There are also some building codes on the Cape that would almost certainly prevent Marriott from building the type of property that fits its norm.

 

[thinze3]

I wish they'd build a Marriott on Cape Cod. There's enough in Orlando already. Most of the TS on Cape Cod seem like motel conversions. It would be great if there were one as nice as Marriott. And maybe if it were Marriott, I'd have a better chance to trade in!

I would like to see a Marriott on South Padre Island.

Terry

 

[dioxide45]

I sure hope they still build Lakeshore Reserve. I am looking forward to exchanging in there in about 5-7 years.