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Maui Ocean Club Sequel

dickgregory

dickgregory

TUG Member
Joined
Feb 22, 2012
Messages
81
Reaction score
9
Location
Bellevue WA
Resorts Owned
Maui Ocean Club Napili Villas 3 BR, Marriott Grande Vista 2 BR,
Veteran
I was curious if anyone knows how many of Marriott's Napili Villa weeks have been placed in the Trust compared to the Lahaina Villa weeks. Does anyone have the answer to this or know where to find the answer? Perhaps there's already a thread covering this topic. Thanks!
 
Thanks Steven. The link you posted is very enlightening. Is there a website I can access to find other "recordings" to the Trust on this property? I recall Dioxide45's spreadsheet & believe you are right about it not showing specific buildings.
 
The Orange County Comptroller website is really the only place that has this information and then you need additional knowledge of the property and unit numbers. Here are the counts based on my analysis.

Napili - 871
Lahaina - 441

Consider though, this is only the trust. Many legacy owners convert their weeks to points and thus those weeks are also available to book with DC points.
 
Thank you! Appears Marriott added another 6 units (at 52 weeks each) to the Napili Villas besides the 11 units included in Steven's link. Perhaps they exercised ROFR's or maybe another group addition.
 
Lahaina tower was 100% sold out as weeks before the DC was introduced, so any weeks put in the trust from that tower would be weeks Marriott got back through foreclosure, buy back, etc. Therefore, Napili would almost certainly have more weeks in the trust. Since the only ocean view and mountain view weeks in the Maui Sequel are in Lahaina Tower, that would likely make those views the hardest to get with points.
 
dickgregory said:
Thank you! Appears Marriott added another 6 units (at 52 weeks each) to the Napili Villas besides the 11 units included in Steven's link. Perhaps they exercised ROFR's or maybe another group addition.
Click to expand...

Steven's link is just one conveyance. Marriott has usually done two bulk conveyances ever year. There are actually 19 total conveyances for Maui Ocean Club Sequel. So there are actually 18 other documents like the one in Steven's link that contain a mix of weeks being conveyed to the trust.
 
That's certainly a lot of foreclosures and buy backs in 54 months. If Dioxide45 is right there are 441 weeks in the Trust for the Lahaina Villas from this activity. Eight weeks per month seems high.
 
Correction, it's been 66 months since conversion to DC. That's still seems high at nearly 7 units per month.
 
dickgregory said:
Correction, it's been 66 months since conversion to DC. That's still seems high at nearly 7 units per month.
Click to expand...
It is actually much lower than that. There was a huge front load of weeks when Marriott first created the trust in May 2010. At that time they added 683 weeks to the trust. The rest have been added over the last 6 years.
 
dickgregory said:
Correction, it's been 66 months since conversion to DC. That's still seems high at nearly 7 units per month.
Click to expand...

The DC was established 6/20/10, so 78 months. Regardless, like Dioxide says the front-load was heavy and conveyances have been sporadic since. It may help you to take a look through his compilation thread - Recorded Trust Documents. The current "Breakdown by Property" is in Post #311 but the thread has historical updates throughout.

If you tell us why you're looking for this specific information we may be able to help further. :)
 
dioxide45 said:
It is actually much lower than that. There was a huge front load of weeks when Marriott first created the trust in May 2010. At that time they added 683 weeks to the trust. The rest have been added over the last 6 years.
Click to expand...
There were a bunch of unsold Napili Tower weeks at the time DC was created and Marriott stopped selling weeks. Lahaina Tower was sold out because it opened something like 2 years earlier than Napili. I presume that nearly all of the 683 weeks were in Napili Tower. Does that sound right?
 
Yes, 572 of the weeks were deposited in May 2010, all from the Napili Villas. It seems that Marriott is adding weeks to the Trust each year primarily from foreclosures although I have no way to be sure. It does not seem they are exercising many ROFR requests unless the price is incredibly low (for a higher demand location).
 
dickgregory said:
Yes, 572 of the weeks were deposited in May 2010, all from the Napili Villas. It seems that Marriott is adding weeks to the Trust each year primarily from foreclosures although I have no way to be sure. It does not seem they are exercising many ROFR requests unless the price is incredibly low (for a higher demand location).
Click to expand...

It looks like my counts were off as I had some bad data. It looks like the front load was 572, all Napili and all developer owned inventory. Marriott didn't convey a unit in Lahaina until April 2011. Overall though, Lahaina has been outpacing Napili in conveyances since the first. Does Lahaina have more units overall that would perhaps cause more ROFR and foreclosures? Of all the conveyances 738 are developer and 574 are reacquired.
 
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dioxide45 said:
It looks like my counts were off as I had some bad data. It looks like the front load was 572, all Napili and all developer owned inventory. Marriott didn't convey a unit in Lahaina until April 2011. Overall though, Lahaina has been outpacing Napili in conveyances since the first. Does Lahaina have more units overall that would perhaps cause more ROFR and foreclosures? Of all the conveyances 738 are developer and 574 are required.
Click to expand...
I don't think the number of units in the two towers differ greatly. One possible explanation is that there are indeed more Lahaina units after subtracting the Napili units that were conveyed to the trust. Also, Lahaina Tower is 2-3 years older, so more Lahaina owners may have tired of their ownership and sold back to Marriott, or possibly sold privately at a very low price and Marriott exercised ROFR.
 
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