Morritt's - resale?

[Rascalsmom]

I'm at Morritt's in Grand Cayman this week on an exchange. Our friends love it and are thinking of purchasing a 2BR (resale, of course). They don't plan to trade; they plan to stay here.

I'm not sure they should buy since it appears you can find rentals for the cost of the annual MF. I do see that they give "bonus" weeks to owners.

Does anybody have words of wisdom to share?

 

[LannyPC]

I'm not sure they should buy since it appears you can find rentals for the cost of the annual MF.

For that reason right there I would advise to just rent rather than buy. An additional reason for renting would be that you have more flexibility when to go.

As well, do they have a good exit strategy if/when they feel it's time to divest themselves of ownership? And what happens if one year due to circumstances beyond their control, they can't travel or the cost to fly to GCM sharply rises?

 

[Htoo0]

Keep renting. Been an owner for a long time. (1BR) It used to be a pretty good deal but it hasn't been the same since Ivan. Can't honestly recommend owning.

 

[TUGBrian]

always a good idea to keep renting until/unless you find a really good reason to own...especially if renting seems to be filling your vacation needs at the moment!

 

[Rascalsmom]

I think he was hoping the "bonus weeks" owners receive would make it a good deal for him.

Does anyone know whether bonus weeks benefits transfer with a resale purchase?

 

[Htoo0]

I'm reasonably certain they do not but I've been wrong before so maybe this will get someone who really knows the latest to speak up.

 

[shorts]

Bonus weeks do transfer but resale buyers have a shorter booking window for the bonus week than those buying from the resort. However, during high season I think bonus weeks are hard for anyone to book so it may not make much difference how far in advance you can reserve them.

 

[GrayFal]

Bonus weeks do transfer but resale buyers have a shorter booking window for the bonus week than those buying from the resort. However, during high season I think bonus weeks are hard for anyone to book so it may not make much difference how far in advance you can reserve them.

Agree with Vicki...don't think you are going to get a bonus week in high season.
Reason to own is you can call and book your unit(s) at 12 months out and secure your quite reasonable airfare from Cayman Airways at 11 months.

Major improvements at the resort in the last few years. Beautiful gut renovations are under way in the Tortuga Club units making them (almost) as nice as the new Londoner. Improvements in food and beverage. Many more great restaurant selections out in the East End.

The comment about "not been the same since Ivan" really does not apply any more. The resort is in better shape now then pre-Ivan.
And that is just NOT my humble opinion.

 

[Htoo0]

The comment about "not been the same since Ivan" really does not apply any more. The resort is in better shape now then pre-Ivan.
And that is just NOT my humble opinion.

Just to clarify, there is more to it then just the condition of the resort. I admit I haven't been keeping up as I once did but I'm not aware ratings of the resort are back to pre-Ivan levels. Service is down, (cleaning, towels, etc.), costs are much more, wrist bands to use the pools, resale values, while never good, are dismal, but that certainly doesn't mean morritts is the worst place to stay. However, there's no way I would consider buying anymore time there. Renting seems to be a much better deal. But that IS just my humble opinion.

 

[GrayFal]

Just to clarify, there is more to it then just the condition of the resort. I admit I haven't been keeping up as I once did but I'm not aware ratings of the resort are back to pre-Ivan levels. Service is down, (cleaning, towels, etc.), costs are much more, wrist bands to use the pools, resale values, while never good, are dismal, but that certainly doesn't mean morritts is the worst place to stay. However, there's no way I would consider buying anymore time there. Renting seems to be a much better deal. But that IS just my humble opinion.

I understood your implied comments to mean resort management.
Things seem to be more tightly managed with more transparency for our owner elected reps to keep on top of the situation.

If you have not visited recently, you are not aware of the look and condition of the resort.
Yes, no more daily towel change (same as Marriott) but housekeeping comes daily for a tidy, maint fees have risen over the years (same as Marriott) wrist bands at the pool (same as Marriott) to address a particular issue.

My point is that the majority of services at. The resort have improved, the renovations are beautiful (without any special assessment) and the reviews online are improving.

Should you own there? It is always an individual choice same as anywhere.
There are people here who say don't own anything, always rent.

I still prefer to know all I have to do is call and reserve my time each year
YMMV

 

[ldzierzanowski]

We are off today to Morritt's. This will be our 3rd trip to GC but our first off of 7 mile beach. We are staying in the Tortuga Club so we will report back.

I can say without a doubt if the resort is as much fun as they are on FB this will be a great trip. Cross your fingers and pray for good weather!!


Can we just go to the beach now...please!!!