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Question about Selling MVC at Ocean Pointe and the ROFR

D

Docsdrillers

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Hoping someone can clarify something for me.

We go to OP every Xmas for 2 weeks and have discussions with fellow Legacy owners.
Last year we were told that the price point for ROFR on platinum weeks was around 10.5-11K and this past year Marriott took back anything sold under 14K.

My question is if either of these are true then why doesn't Marriott buy up all the units for sale on Redweek that are below those price points.

I just checked and there are many units for sale of Platinum weeks as low as 5000K..

Why wouldn't they buy a Platinum week which generates 4125 points that are sold at roughly 20.00/point.
 
Likely MVC doesn’t absolutely need immediate inventory to support current point sales and there are likely many of those weeks currently listed which won’t sell in a reasonable amount of time and the owners just end up deeding back the inventory to MVC, so MVC in essence gets it for free.
 
MVC doesn't really want to go out and play in the resale market. They really don't need to as they get to see every contract anyway. If they jump in, it could start to drive up prices as there is now a lot more demand.
 
Marriott doesn’t go after private listings. They only step in after a sale has been agreed to as part of the ROFR process. I’m sure they also have a set budget to spend each quarter. So sometimes lower price points will go through and other times they are more aggressive. Just depends.
 
Why pay 14k once you see a contract rather than jumping in and paying 5K for a private sale listing.
I'm guessing that point saies are in the toilet and they have plenty of points left to sell.
 
Are you looking to buy or sell or just curious? Who told you that Marriott was exercising rofr on anything under $14,000. If it were the sales team, they are just saying that to discourage you from buying resale.
 
Docsdrillers said:
Hoping someone can clarify something for me.

We go to OP every Xmas for 2 weeks and have discussions with fellow Legacy owners.
Last year we were told that the price point for ROFR on platinum weeks was around 10.5-11K and this past year Marriott took back anything sold under 14K.

My question is if either of these are true then why doesn't Marriott buy up all the units for sale on Redweek that are below those price points.

I just checked and there are many units for sale of Platinum weeks as low as 5000K..

Why wouldn't they buy a Platinum week which generates 4125 points that are sold at roughly 20.00/point.
Click to expand...


Your best bet may be to go to the website below and see what recent transactions show.


www.rofr.net


I believe at the current time a $14K is too high.

Best of luck.









.
 
Docsdrillers said:
Hoping someone can clarify something for me.

We go to OP every Xmas for 2 weeks and have discussions with fellow Legacy owners.
Last year we were told that the price point for ROFR on platinum weeks was around 10.5-11K and this past year Marriott took back anything sold under 14K.

My question is if either of these are true then why doesn't Marriott buy up all the units for sale on Redweek that are below those price points.

I just checked and there are many units for sale of Platinum weeks as low as 5000K..

Why wouldn't they buy a Platinum week which generates 4125 points that are sold at roughly 20.00/point.
Click to expand...
I think the $10.5 to $11K is a reasonable estimate for a Platinum Ocean side unit there. This also appears to be around the level that MVC till take it under ROFR. They do buy backs at time but only if contacted by the owner and the owner accepts the offer which is going to be less than these prices. Remember ROFR's main goal isn't to acquire inventory but to drive retail sales. Also don't forget that around half the sales price is admin, marketing and commission costs so their actual profit isn't as dramatic as it appears on the surface. Other than on principle, it really doesn't matter to the seller who the buyer is with ROFR, they get the same amount either way. They also have goals and budgets which is one of the reasons that you'll see one go through that's a better deal than another they took back under ROFR.
 
When I attended a presentation at Crystal Shores in November, the sales manager mentioned that a lot of owners are trying to sell Ocean Pointe weeks due the ridiculous increases in MF's for that resort. They also mentioned it is one of their most popular resorts for the 'buyback' offers because resale supply is greatly exceeding demand and the initial purchase costs were higher than many others. I would have accepted this offer if they didn't also require the additional purchase of 2000 points.
 
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