SpikeMauler
TUG Member
I just got back from St.Thomas(Marriott Morning Star).I took the Tour of Frenchman's Cove(I Liked it) and afterward asked the salesman some questions.I first asked him had Marriott halted construction at any resorts because of the economy.He said no,that they were recession proof and that Marriott has no liquidity problems and looked at this economy as a buying opportunity.He then proceeded to tell me that Marriott will be adding six new Vacation Club resorts.He mentioned these five: Italy(Tuscany starting at $106,000), Bahamas(Paradise Island), Hawaii(Maui), Cayman Islands, and Mexico. He didn't know when these locations would be a part of the Vacation Club, though it sounded like Italy would be first.. I then asked him about the dilapidated dock and the coral problem(on the shore) at Frenchman's Cove(Evening Star Beach). He told me within nine months a new dock would be built and all the coral would be removed. He said U.S.V.I. Government signed off on this, and the paperwork was in their New York or Chicago offices. They also will be adding a second private beach(on the other side of the cliff) for the up top buildings.The resort is 70% sold so far. Frenchman's Cove is the strongest trader among all Marriott Resorts(according to the salesman).The current price for a 2bed Plat is $36,100. He said it has been kept around this price the last three years because of the economy. He said once the economy improves and after the resort is complete, the price will eventually be around $72,000. They list the $36,100 price as Pre-Construction Pricing. If I would have bought from them right there(which I didn't), they would have gave me 110,000 points and a seven day trip, anywhere anytime to any Marriott Resort. I also took the Westin St. John tour, but that's another story.
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