New 73 Unit Vacation Club announced for Savannah GA

[sparty]

Sounds like they expect it to be open in a few years and will include a new sales center too. I like the idea they're going after more urban destinations in addition to beach resorts, etc.

 

[jwalk03]

Sounds like they expect it to be open in a few years and will include a new sales center too. I like the idea they're going after more urban destinations in addition to beach resorts, etc.

Do you have a link? Where was this announced?

 

[jwalk03]

I just listened to the Investor Call. The announcement was on the call. (Around the 7-minute mark)

The property has already been acquired and will be converted to a 73-unit WESTIN Vacation Club and include new sales center when it opens "in a few years".

Interesting that it will be Westin branded and not a Pulse location.

 

[jwalk03]

I found a property transfer to MARRIOTT OWNERSHIP RESORTS, INC. for a property located at 200 E Saint Julian ST, Savannah, Georgia on 8/15/2023 for $18.7 million!

 

[dioxide45]

Perhaps it is this?

Property Transfers: HunterMaclean building sells to Marriott for $18.7 million

The 144-year-old law firm Hunter Maclean sold its downtown Savannah headquarters to Marriott Resorts for $18.7 million.

finance.yahoo.com

 

[dioxide45]

Good to see it as a Westin Vacation Club, but will it be part of VSN? I am sure it will all be conveyed to the MVC (Abound) Trust.

 

[jwalk03]

Perhaps it is this?

Property Transfers: HunterMaclean building sells to Marriott for $18.7 million

The 144-year-old law firm Hunter Maclean sold its downtown Savannah headquarters to Marriott Resorts for $18.7 million.

finance.yahoo.com

Yeah that's the address I found in the land transfer search. The article's author assumed it would be converted to a Marriott Hotel; not a timeshare location it appears.

 

[dioxide45]

Yeah that's the address I found in the land transfer search. The article's author assumed it would be converted to a Marriott Hotel; not a timeshare location it appears.

It seems that way, but the caption on the image indicates Marriott Ownership Resorts LLC, which is certainly the timeshare company.

 

[hangloose]

Savannah is a nice and beautiful city. Great additional location.

Perfect for a combo of Savanah and Hilton Head Island.

We've chosen to stay at Marriott hotels or B&Bs in Savannah (quite a few good ones to choose from). In the past, you used to be able to use MVCI Club Points to stay at The Mansion on Forsyth Park hotel. But, I think that's been sold and/or renamed as of this year.

 

[jwalk03]

Savannah is a nice and beautiful city. Great additional location.

Perfect for a combo of Savanah and Hilton Head Island.

We've chosen to stay at Marriott hotels or B&Bs in Savannah (quite a few good ones to choose from). In the past, you used to be able to use MVCI Club Points to stay at The Mansion on Forsyth Park hotel. But, I think that's been sold and/or renamed as of this year.

The mentioned in the call that it was "the most requested" location by owners when surveyed.

 

[hangloose]

The mentioned in the call that it was "the most requested" location by owners when surveyed.

Not surprising. It's a beautiful town. Lots of history, great food, and just a nice walking town. Weather is also a bit more temperate vs a Charleston, SC (similar, but different...and further North).

With that said..my kids got bored eventually. I could see it being a bit more adult focused.... for history, walking tours, eat a nice dinner, have cocktails, etc.

 

[Dean]

That's a good location. The Bluegreen resort there is one of our favorites due to location and the City.

 

[daviator]

My big question is whether it will become part of VSN or not. If it does, that probably tells us that MVC plans to keep VSN and doesn't intend to try to kill it off. If it doesn't, it probably tells us the opposite.

It will certainly be confusing if there are Westin Vacation Club resorts that are not part of VSN, but I think MVC thrives on making things confusing.

 

[rthib]

My big question is whether it will become part of VSN or not. If it does, that probably tells us that MVC plans to keep VSN and doesn't intend to try to kill it off. If it doesn't, it probably tells us the opposite.

It will certainly be confusing if there are Westin Vacation Club resorts that are not part of VSN, but I think MVC thrives on making things confusing.

I am betting it will not be and it is intentional. So sales reps can make the same speech they make to Marriott owners. "All the inventory will disappear, and the only inventory that will be available will be if you have magic trust points."
I like the location but given the ridiculous point rates for the pulse properties, I doubt it will be worth it.

 

[timsi]

My big question is whether it will become part of VSN or not. If it does, that probably tells us that MVC plans to keep VSN and doesn't intend to try to kill it off. If it doesn't, it probably tells us the opposite.

It will certainly be confusing if there are Westin Vacation Club resorts that are not part of VSN, but I think MVC thrives on making things confusing.

I'm not sure it's a sign either way. My understanding is that they'll continue to sell Aventuras that they can't move to the Abound trust. I think they also have Sheraton Flex inventory available, and since that product is always the weakest of the three, they may also have higher annual defaults. That "new" inventory also needs to be resold in the future. They'll probably keep a sales center in Orlando just for Sheraton flex. It might also be good business to keep the Vistana tap open to please Vistana owners who have bought in the last 4-5 years and are not very interested in switching to only Abound.

 

[timsi]

I just listened to the Investor Call. The announcement was on the call. (Around the 7-minute mark)

The property has already been acquired and will be converted to a 73-unit WESTIN Vacation Club and include new sales center when it opens "in a few years".

Interesting that it will be Westin branded and not a Pulse location.

Did they announce anything else interesting?

 

[mjm1]

Outstanding! This should be a nice addition to the portfolio. Good to hear they listened to feedback from owners. I hope it’s available via the SVN, but wouldn’t be surprised if it’s only available via Abound. In the later scenario, SVN owners would have to convert to Abound to make a reservation.

 

[jwalk03]

Did they announce anything else interesting?

Just the already announced Charleston location, with no new details about it. And that the Waikiki location is planned to open “late next year.”

 

[Red elephant]

IMHO, I doubt if this location will be in VSN. They are selling abound and telling people if you want access to xyz you need to purchase abound trust points. They are no longer selling Westin flex from what I have heard and Putting this new timeshare in VSN would give access to anyone who purchases a mandatory unit on resale.

 

[daviator]

IMHO, I doubt if this location will be in VSN. They are selling abound and telling people if you want access to xyz you need to purchase abound trust points. They are no longer selling Westin flex from what I have heard and Putting this new timeshare in VSN would give access to anyone who purchases a mandatory unit on resale.

If they were to put it in VSN, I certainly wouldn't expect that it would be a mandatory property. I don't expect there will ever be another mandatory property.

The conventional wisdom, at least, is that they can't completely kill VSN because it's literally written into the deeds of all the Vistana properties. So the big unknown is whether they will embrace VSN and keep it healthy, or whether they will try to strangle it of inventory to the point that it's irrelevant. It'll be interesting to see what they do with this property. But mandatory? Never again, I'm sure.

 

[jont]

Looks like a great location. Looking forward to going there someday!

 

[kozykritter]

If they were to put it in VSN, I certainly wouldn't expect that it would be a mandatory property. I don't expect there will ever be another mandatory property.

The conventional wisdom, at least, is that they can't completely kill VSN because it's literally written into the deeds of all the Vistana properties. So the big unknown is whether they will embrace VSN and keep it healthy, or whether they will try to strangle it of inventory to the point that it's irrelevant. It'll be interesting to see what they do with this property. But mandatory? Never again, I'm sure.

The poster wasn't saying that this new property might be mandatory. They were saying that if they put it in the VSN then anybody who buys a mandatory resale could get access to that property through StarOptions.

 

[dioxide45]

If they were to put it in VSN, I certainly wouldn't expect that it would be a mandatory property. I don't expect there will ever be another mandatory property.

The conventional wisdom, at least, is that they can't completely kill VSN because it's literally written into the deeds of all the Vistana properties. So the big unknown is whether they will embrace VSN and keep it healthy, or whether they will try to strangle it of inventory to the point that it's irrelevant. It'll be interesting to see what they do with this property. But mandatory? Never again, I'm sure.

Mandatory is irrelevant unless there are resales at the property. Which there won’t be. It would all be pure trust.

 

[Red elephant]

If they were to put it in VSN, I certainly wouldn't expect that it would be a mandatory property. I don't expect there will ever be another mandatory property.

The conventional wisdom, at least, is that they can't completely kill VSN because it's literally written into the deeds of all the Vistana properties. So the big unknown is whether they will embrace VSN and keep it healthy, or whether they will try to strangle it of inventory to the point that it's irrelevant. It'll be interesting to see what they do with this property. But mandatory? Never again, I'm sure.

I don’t mean the resort will be mandatory but if it’s in VSN then anyone that owns a mandatory resale can book it at 8 months with staroptions.

 

[Red elephant]

Mandatory is irrelevant unless there are resales at the property. Which there won’t be. It would all be pure trust.

I am in agreement with this. I do not see any new properties going in VSN no matter what the resort is called.