[2023] New Marriott branded Charleston Resort Announced

[dioxide45]

I thought Westin was going to build in Orlando? Was that just a salesperson talking?

No, that property looks to be a Hyatt Vacation Club.

 

[dioxide45]

Yeah their 2Q results were below expectations as well. So I think they realize they need to do something to tame down the maintenance fees or sales will get even worse. The proof will be in the pudding of course when the bills start coming...

They did also say on the 2Q call that they expect maintenance fee increases for the points product to be under 5% for next year.

 

[jwalk03]

I thought Westin was going to build in Orlando? Was that just a salesperson talking?

No Westin in the works for Orlando- just a Hyatt Vacation Club. Geller all but confirmed that on one of these calls a couple of months ago saying something to the effect of the Marriott vacation club brands have more than enough Orlando inventory today, but Hyatt has none in this important sales market.

 

[rickandcindy23]

I would love a Westin in Orlando. I think the brand is nicer. But I know those of you who are Marriott lovers will disagree with me.

Speaking of increases in fees, I hope they stop increasing in Palm Desert. What is the deal with the high cost of Palm Desert resorts? We bought with the belief that it wasn't going to cost as much as it does. I shouldn't have bought those platinum weeks.

 

[mjm1]

I would love a Westin in Orlando. I think the brand is nicer. But I know those of you who are Marriott lovers will disagree with me.

Speaking of increases in fees, I hope they stop increasing in Palm Desert. What is the deal with the high cost of Palm Desert resorts? We bought with the belief that it wasn't going to cost as much as it does. I shouldn't have bought those platinum weeks.

We own DSV1 as well. Labor costs and other costs are higher in CA, so that is a major contributor.

 

[normab]

Re the washer dryer discussion, we had a stacked unit in a one bedroom Waikoloa Beach club. I agree it would be nice if they can include them in Charleston. But I wonder if they think it’s necessary. Charleston might be the kind of place people don’t go for full weeks, whereas it takes you so long to get to Hawaii, most people stay at least a week if not two. You’re more likely to need a washer and dryer when you stay longer, right? That might play into how they design those rooms.

 

[jwalk03]

The presentation from the Earnings Call Today now lists Charleston & Savannah Westin Vacation Clubs as 2027 openings. Previously both were listed as 2026 targeted opening dates.

 

[sponger76]

The presentation from the Earnings Call Today now lists Charleston & Savannah Westin Vacation Clubs as 2027 openings. Previously both were listed as 2026 targeted opening dates.

Have they even broken ground at either location?

 

[JIMinNC]

Have they even broken ground at either location?

We were in Charleston in May, and at that time no. I think that is still the case. I think the answer is no for Savannah as well, but less sure about that one.

 

[dioxide45]

I believe Savanna is a conversion from office space. I suspect they will use at least some if not all of the existing structure. Charleston will be a new build. I understand that the law firm currently occupying the Savanna building has a lease that runs through 2025 or 2026.

 

[sponger76]

I believe Savanna is a conversion from office space. I suspect they will use at least some if not all of the existing structure. Charleston will be a new build. I understand that the law firm currently occupying the Savanna building has a lease that runs through 2025 or 2026.

I had totally forgot that I read about it when the project was initially announced.