NEW WMH Info.

[lars158]

NEW thread - Since it's seems to be causing quite a bit of confusion, I am going to split the Jan. thread and the new posts into 2 threads.- DeniseM

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[WMH] just got sold at eBay for $10,656... Seems to be a pretty good deal!

 

[DeniseM]

To see a list of ebay prices for WMH and other Starwood resorts, see the ebay Sales Database link in the Owner Resources Sticky.

This looks like the lowest prices we've had reported for WMH:

WMH 2Bd LO Plat - $10,012 (1/17/08)-http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=140197510036&ssPageName=STRK:MEWA:IT&ih=004

Oooppps, but the link is too old to be valid - sorry!

 

[lars158]

Thanks Denise, yes it appears there have been two others on Ebay this year sold at about the same price ~ $10K... The lowest I have found on a regular listing is $15K, so it seems to pay off using eBay for bargains.

 

[DeniseM]

ebay absolutely has the lowest TS prices. I've bought...hmmm...4 weeks on ebay for cents on the dollar!

 

[Ken555]

Another just finished at eBay yesterday for $10,656

 

[Fredm]

ROFR info

Starwood has notified us of their intention to exercise their ROFR on a Gold Season sale, priced at $5,990.

This is a first for us.

Fredm

 

[SDKath]

Starwood has notified us of their intention to exercise their ROFR on a Gold Season sale, priced at $5,990.

This is a first for us.

Fredm

You're kidding! Are you sure??? OMG! This would be the first ROFR I would have ever seen by Starwood anywhere. And on GOLD no less? At WMH??? I would think Platinum in Hawaii maybe but this? I am in shock.

Katherine

 

[Fredm]

Yep. It's the first I know of as well.

I don't know how this would translate to the Platinum pricing which began this thread. But, clearly, WMH resale prices have been overdone.

 

[grgs]

Yep. It's the first I know of as well.

I don't know how this would translate to the Platinum pricing which began this thread. But, clearly, WMH resale prices have been overdone.

Very interesting. Particularly now, as I thought they would be having a harder time with sales given the current economy. I always thought it odd they didn't exercise their ROFR on some of the more desirable weeks. New inventory without having to pay new construction costs.

It will indeed be interesting to see if Platinum weeks also get ROFR'ed, as well as other resorts.

Glorian

 

[Fredm]

I was very surprised. Thought it worth reporting.

The review and notification process appears more formal than in the past, as well.

I am just guessing, but the more formal process indicates that Starwood is now gearing to manage its preemption right.
If so, there will be others soon.

It will be interesting to see how it unfolds.

 

[tomandrobin]

Thanks for updating Fred on the Mission Hills ROFR. I am glad they did it on that and not St John and Harborside.

 

[Ken555]

This could be a great change for SVN! (I'm trying to think positive...)

 

[vacationtime1]

I'm not surprised to hear Starwood is exercising ROFR in this situation. They are now selling Desert Willow which is not too different than Mission Hills, except for StarOptions. How can they allow resales at <$6,000 on a property functionally similar to one they are selling for >4.5 times as much? See http://www.tugbbs.com/forums/showpost.php?p=488487&postcount=8

Now, if Starwood's benchmark will be to exercise ROFR if the resale price is <25% of its current price on a comparable new resort, Mission Hills platinum would be "protected" at $10,000 (actually $9,725). We shall see.

Of course, my surmise is limited by Starwood acting rationally and consistently.