New 73 Unit Vacation Club announced for Savannah GA

[LUVourMarriotts]

The linked article above says the law firm expects to remain in the building for the next 18-24 months. The conversion to a 73-unit Westin must happen after that, so it is like 3-4 years before this location is actually open to us.

 

[dioxide45]

The linked article above says the law firm expects to remain in the building for the next 18-24 months. The conversion to a 73-unit Westin must happen after that, so it is like 3-4 years before this location is actually open to us.

There is also a chance the whole market goes to crap before then and there is no new property in Savannah.

 

[sponger76]

The article states that the building is not on the list of historic buildings. I wonder if they will demolish and build something new or just convert the interior into rooms/villas.

 

[goodbadugly]

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.

The question is what point structure will they assign to it. It's a new product so the "gouge" will be on!!!

 

[dioxide45]

The question is what point structure will they assign to it. It's a new product so the "gouge" will be on!!!

Yup. The more points they assign to it the more points they can sell. I suspect it will be above the existing Pulse point levels.

 

[daviator]

Yup. The more points they assign to it the more points they can sell. I suspect it will be above the existing Pulse point levels.

The interesting thing about the Points program is that adding to the points pool benefits MVC even if the properties added are lousy.

MVC could add a new property in a slum area somewhere, one which went 90% vacant throughout the year. But they’d get to add those points to the pool, and sell new points ownerships to people who are expecting to be able to reserve in places like Maui.

So yes, it seeks like they have an incentive to put high points values on any new offerings regardless of their real value. It almost doesn’t matter whether people actually use those properties so long as MVC can sell the points for them.

I hope their view is less cynical than mine!

 

[jwalk03]

The interesting thing about the Points program is that adding to the points pool benefits MVC even if the properties added are lousy.

MVC could add a new property in a slum area somewhere, one which went 90% vacant throughout the year. But they’d get to add those points to the pool, and sell new points ownerships to people who are expecting to be able to reserve in places like Maui.

So yes, it seeks like they have an incentive to put high points values on any new offerings regardless of their real value. It almost doesn’t matter whether people actually use those properties so long as MVC can sell the points for them.

I hope their view is less cynical than mine!

You're right, but there is also added benefit in adding new flags on the map that appeal to people. And remember the easiest people for them to sell to are existing owners so adding locations that people actually want definitely makes that easier.

I havent studied the points charts closely since I only own weeks, but are the existing pulse properties similar in points cost or do they vary widely with the newer ones being higher than the older ones indicating a trend of them rising them to create more points in the pool to sell?

 

[daviator]

You're right, but there is also added benefit in adding new flags on the map that appeal to people. And remember the easiest people for them to sell to are existing owners so adding locations that people actually want definitely makes that easier.

I havent studied the points charts closely since I only own weeks, but are the existing pulse properties similar in points cost or do they vary widely with the newer ones being higher than the older ones indicating a trend of them rising them to create more points in the pool to sell?

I'm not sure there are enough Pulse locations to make an analysis, and I didn't really start following them until a couple of years ago so I'm not sure in what order they were added. But the points values seem awfully high to me – during some times of the year, the cost for a week in a hotel-room-sized room at several of the Pulse properties is more than the value of my two bedroom Westin Ka'anapali (Maui) ownership. I realize these are expensive urban locations, but wow. They are comparatively shoeboxes.

I think it will be very telling how the new Pulse properties in Savannah, Charleston and Waikiki are valued.

 

[jwalk03]

I'm not sure there are enough Pulse locations to make an analysis, and I didn't really start following them until a couple of years ago so I'm not sure in what order they were added. But the points values seem awfully high to me – during some times of the year, the cost for a week in a hotel-room-sized room at several of the Pulse properties is more than the value of my two bedroom Westin Ka'anapali (Maui) ownership. I realize these are expensive urban locations, but wow. They are comparatively shoeboxes.

I think it will be very telling how the new Pulse properties in Savannah, Charleston and Waikiki are valued.

I would expect Waikiki to be high given its location- but it will be intersting to see how it stacks up against the other Hawaii locations. I mean are they really going to be able to price a hotel room or studio in Waikiki significantly higher than a studio at Ko Olina? Time will tell i suppose.

 

[ljmiii]

I'm not sure there are enough Pulse locations to make an analysis, and I didn't really start following them until a couple of years ago so I'm not sure in what order they were added. But the points values seem awfully high to me...

Pulse prices for a medium villa on good but not peak dates presented in rough order of appearance in MVC DP/Abound program follow. Cash prices use the 2024 Abound Point MFs of $0.78748/point.

Boston Pulse 325/775 (1BR) - $255.93/$610.30
Washington DC - 525/400 (Deluxe DB) - $413.43/$314.99
South Beach - 475/650 (King Studio) - $374.05/$511.86
SF RCC (for comparison) - 525/875 (1BR) - $413.43/$689.05
NYC 625/900 (King w/ Street View) - $492.18/$708.73
San Diego - 300/375 (King w/city view) - $236.24/$295.31
San Francisco - 300/700 (Urban view) - $236.24/$551.24

All except the weekend prices at the NY and SF Pulses are somewhere between dirt cheap (I'm looking at you Boston) and pretty reasonable compared to hotel rates. The Boston Pulse and SF RCC weekend point prices are high compared to their weekday prices...but not compared to the price of a 1BR suite at a nice hotel.

 

[jwalk03]

Geller said the opening date for Savannah is planned for 2027 on the Q1 Investor Call today. And that it would be added to the MVC US Land Trust. No mention of it being available with Star Options.