Please post Starwood ROFR transactions here (ONLY)

[glewis1123]

Starwood exercised the ROFR and bought back the 2br ocean view annual at Wkorv North for $24500.00

 

[glewis1123]

Well I guess the old saying of "3's a charm" has some truth to it

We put an offer in on an even year 2br Ocean View unit at WKORN for $14,500.00 and Starwood passed - yeah!!!! finally

 

[PamMo]

Congratulations on your purchase going through! I hope you have many wonderful vacations in your new timeshare. We love our vacations in Maui. Next year our son-in-in-law is very excited about hosting ALL of his family in our WKORVN units for their first trip to Maui (from D.C., Paris, Vietnam, and Washington State!) We are so happy to see them get together for their dream vacation with all three generations! THAT is totally priceless to me!

 

[Lingber]

Congratulations on your purchase going through! I hope you have many wonderful vacations in your new timeshare. We love our vacations in Maui. Next year our son-in-in-law is very excited about hosting ALL of his family in our WKORVN units for their first trip to Maui (from D.C., Paris, Vietnam, and Washington State!) We are so happy to see them get together for their dream vacation with all three generations! THAT is totally priceless to me!

I wish their was a like button so I could like this post! What a nice thing to do

 

[lizap]

So it seems Starwood is NOT exercising ROFR on all purchases (for FLEX)..

Congratulations on your purchase going through! I hope you have many wonderful vacations in your new timeshare. We love our vacations in Maui. Next year our son-in-in-law is very excited about hosting ALL of his family in our WKORVN units for their first trip to Maui (from D.C., Paris, Vietnam, and Washington State!) We are so happy to see them get together for their dream vacation with all three generations! THAT is totally priceless to me!

 

[LisaRex]

So it seems Starwood is NOT exercising ROFR on all purchases (for FLEX)..

No matter why they are building up inventory, they'd be stupid to exercise ROFR at any price, when they can cherry pick cheaper contracts.

 

[DavidnRobin]

Spoke with someone today at WPORV that as a buyer of WKORV OFD resale - had 2 ROFRs for around $43K, and one finally passed at $46K...
Interesting.

 

[capjak]

Spoke with someone today at WPORV that as a buyer of WKORV OFD resale - had 2 ROFRs for around $43K, and one finally passed at $46K...
Interesting.

Interesting that ROFR prices have gone up quite a bit in the last year.

 

[DTD1990]

So it seems Starwood is NOT exercising ROFR on all purchases (for FLEX)..

This illustrates why the FLEX program is suspect.

SVO/Vistana could own one WPORV unit and still market to potential FLEX customers that Hawaii is part of the network. No one knows how many weeks/units/locations and in what season contracts are in the FLEX since many of the weeks in those properties also have been sold under the previous system. Unless they disclose what is actually in the FLEX inventory, the 12-month reservation period could be meaningless. I don't know how you can fairly combine the previous weekly unit contract model with a pure points program overlay for the same properties.

 

[Ken555]

This illustrates why the FLEX program is suspect.



SVO/Vistana could own one WPORV unit and still market to potential FLEX customers that Hawaii is part of the network. No one knows how many weeks/units/locations and in what season contracts are in the FLEX since many of the weeks in those properties also have been sold under the previous system. Unless they disclose what is actually in the FLEX inventory, the 12-month reservation period could be meaningless. I don't know how you can fairly combine the previous weekly unit contract model with a pure points program overlay for the same properties.

Yes, I think this is a valid concern. This has happened with other networks as well, as the available inventory is not transparent and almost always booked. That said, I would think SVN wouldn't launch a new location via FLEX unless they had sufficient availability to meet most of the demand, especially during the first few years of the new program.

I think we all knew SVN had to do something in order to continue the money train for their sales dept and without significant new construction or acquisitions, this would be difficult without another artificial access distinction such as FLEX. While I'm still somewhat pleased with my ability to reserve units via SVN I am more reluctant now to buy another mandatory unit than I was a few years ago...instead of additional units, I've decided to test cruising as an alternative which has the added advantage of no long term commitment.


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[DavidnRobin]

my intent before - many posts ago - is that they cannot sell more than they own.
In regards to my own bias - when it comes to WKORV OFD (or OFC) is they cannot give 12 month access to those that do not own (regardless of the Flex). They cannot all of a sudden say that they will offer me OF WKORVN or Nanea as an alternative of me getting shut-out of what I own.

Yes, if OF WKORV is SVN available or Owned by SVO - then they can do want they want - but they cannot offer more than they have - meaning force an OF WKORV Owner to take an alternative regardless if a Flex Owner has the SOs to reserve. That would be a tough lawsuit to win on their part without a major revamp to the WKORV CCRs.

I restate this because some speculation is missing this key point.

 

[DeniseM]

David - If Starwood buys up inventory and puts it in the Flexoption program, they can do anything they want with it.

This is not a new scenario - With both Marriott and Wyndham, they have "points" inventory, and "deeded" inventory at the same resorts, and they are two different pools of inventory that do not cross over.

Deeded owners can reserve deeded inventory - points owners can reserve points inventory.

As a deeded owner at WKORV, your owned week would stay in the deeded owners pool, and you would not have access to the Flexoption pool.

People who buy "Hawaii Flexoptions," will be able to reserve Flexoption inventory, but they won't have access to deeded weeks.

 

[DavidnRobin]

I am not arguing about what the Flex program offers - but what it does not offer. guess I am not being clear, but seems basic...
Time will tell...
As we will will likely still be on TUG a couple years from now - you can tell me that you told me so. But, please keep in mind what I specifically referencing - Flex Ownership will not trump my deeded ownership, nor will they be allowed to offer more than they own.

Example - people own enough Flex SOs to reserve OFD at 12 months (whether or not it is a HI Flex program) - they effectively prevent me from using my deeded VOI using the 'based on availability' argument ? I think not, plus they will have to alter the CCRs for priority usage.

btw - the SVO purchase price for OFD WKORV is $124K. So, that is likely starting point for OF Nanea.

 

[DeniseM]

David -

You are being very clear, but I don't understand where you are going with this, because no one has stated that Flexoption owners will be able to reserve deeded weeks at 12 mos.

Based on what they are doing with the Florida Flexoption program, I think it's pretty clear that there will be two separate pools of inventory.

 

[okwiater]

There are 2 separate pools of inventory. Flex Option owners (at resorts with both Flex and deeded ownerships) can only reserve from the Flex pool. Therefore, it is possible for Flex owners to be "blocked" from reserving something even though that inventory type is still available.

 

[DeniseM]

There are 2 separate pools of inventory. Flex Option owners (at resorts with both Flex and deeded ownerships) can only reserve from the Flex pool. Therefore, it is possible for Flex owners to be "blocked" from reserving something even though that inventory type is still available.

Yes, just like deeded owners will be "blocked" from reserving Flexoption inventory - same deal.

You aren't really blocked - you just have 2 different pools of inventory.

"Blocked" implies that you can see the inventory, but you aren't allowed to reserve it. I'm assuming that Flexoption owners only see Flexoption inventory, at www.mystarcentral.com? They don't see "blocked" deeded inventory?

Just like, as an Ocean View owner, if I search, I can't see Ocean Front inventory?

 

[tborr123]

How would us individual owners know if Starwood is keeping the inventory separate? If the system says there are no units available when we try to reserve 365 days in advance for our view category, won't it natural to be suspicious?

 

[DeniseM]

How would us individual owners know if Starwood is keeping the inventory separate? If the system says there are no units available when we try to reserve 365 days in advance for our view category, won't it natural to be suspicious?

How do you know they keep inventory separate now?

How do you know that they aren't renting owners' inventory and pocketing the funds?

How do you know that they aren't renting deposits that should go to II or RCI?

We don't!

*BTW: There are already dates that book solid 365 days out, even without Flexoptions.

 

[Ken555]

How would us individual owners know if Starwood is keeping the inventory separate? If the system says there are no units available when we try to reserve 365 days in advance for our view category, won't it natural to be suspicious?

The word you're looking for is transparency. And there is none.


Sent from my iPad

 

[Scott&Laura]

Hello


I have been following thread. I believe Denise has arms wrapped around issue very well.


If I understand correctly Deeded owners rights still exists as usual.

Starwood started flex program after they decided to stop selling deeded property and only sell access to property.


Am I correct in understanding Flex is a way to give non-deeded buyers access to SVN advantages. It seems as if Starwood is taking surplus inventory available and allowing Flex--not deeded property owners access to inventory they own---Not that deeded people own. I.e they own --do as they see fit


Scott

 

[lizap]

So, at WKORV, WKORVN, and WPORV, there are two pools of inventory. Starwood is exercising ROFR more and more at these resorts. If this inventory goes into FLEX, then it reduces the pool of inventory available to deeded owners (those who own at the resorts) and other mandatory owners who use SOs to visit there. Is this correct?

 

[Scott&Laura]

Aren't these properties mandatory SVN So they are obligated to go to SVN

It seems to me FLEX is designed by Starwood to utilize unused inventory---akin to Airline standby to insure full occupancy which reduces costs to Starwood and us as owners


Scott

 

[lizap]

I think the real question is if Starwood buys inventory at WKORV, WKORVN, and WPORV (via ROFR), can it place these units in FLEX? Maybe one of Starwood gurus can chime in.

Aren't these properties mandatory SVN So they are obligated to go to SVN

It seems to me FLEX is designed by Starwood to utilize unused inventory---akin to Airline standby to insure full occupancy which reduces costs to Starwood and us as owners


Scott

 

[okwiater]

I think the real question is if Starwood buys inventory at WKORV, WKORVN, and WPORV (via ROFR), can it place these units in FLEX? Maybe one of Starwood gurus can chime in.

Yes of course. If Starwood acquires weeks they can do whatever they want with them, including designating them for a new Flex ownership program.

 

[SMHarman]

Which then puts points in the trust that cannot be used at 12 month's for home resort priority and that are owned by starwood.

I agree this is something they can do but the mechanics to then sell them and allow people to book them with priority are not yer created.

If Starwood books the time in a priority window it may as well not be in there.

This is why I see the current multiple flex at CV and NN as different from Marriott.

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