Recorded Trust Documents

[GregT]

Hi Greg

Just a thought - some of that 500k delta may attributable to scheduled maintenance/rehabs (Does M sell 52 weeks for every physical unit?) and the remainder may be for expected 'breakage' which they may be forecasting to be more material for RC than MVCI.

Jack,

I definitely agree, maintenace and rehab certainly makes sense as a reduction -- I believe Marriott sold 50 out of the 52 weeks, but I don't know where that "fact" comes from. Accordingly, I would expect ~4% reduction in the points available.

But the Ritz Carlton discount is ~10%. So I just think its interesting (and noteworthy) that Marriott is applying similar skim to their own weeks as they offer for ours.

Best,

Greg

 

[SueDonJ]

Thanks, Greg, for the latest update. I'm glad you and dioxide are staying on top of this stuff and posting it for the rest of us.

 

[Whirl]

Prime or off-season additions?

I have not had a chance to look at the the docs this time, but what I recal -- and I really only follow the Hilton Head and maybe a few East coast beach weeks -- is that is was largely deeply off season weeks being added. Have any more prime weeks been added in this round or recent rounds?

Thanks.

 

[dioxide45]

Finally getting around to posting links to each document. These are through 9/30/2011 as based on Greg's update of the same date in post #146

Recoreded 8/30/201120110459077 - Newport Coast (Rerecord of 20110231257)

20110512614 - Ritz Carlton Club - Vail
20110512615 - Kalanipu'u
20110512616 - Newport Coast Villas
20110512617 - Fairway Villas
20110512618 - Harbour Lake
20110512619 - Lakeshore Reserve
20110512620 - Newport Coast
20110512621 - Ocean Watch Villas
20110512622 - Surfwatch
20110512623 - Timber Lodge
20110512832 - Barony Beach Club
20110512833 - Beach Place Towers
20110512834 - Canyon Villas
20110512835 - Crystal Shores
20110512836 - Cypress Harbour
20110512837 - Desert Springs I
20110512838 - Desert Springs II
20110512839 - Fairway Villas
20110512840 - Grand Chateau
20110512841 - Grande Ocean
20110513067 - Grande Vista
20110513068 - Harbour Club
20110513069 - Harbour Pointe
20110513070 - Heritage Club
20110513071 - Willow Ridge Lodge
20110513072 - Harbour Lake
20110513073 - Imperial Palm Villas
20110513074 - Kauai Beach Club
20110513075 - Lakeshore Reserve
20110513076 - Legends Edge
20110515673 - Manor Club
20110515674 - Manor Club Sequel
20110515675 - Maui Ocean Club
20110515676 - Maui Ocean Club Sequel
20110515677 - Monarch at Sea Pines
20110515678 - Mountain Side
20110515679 - Newport Coast
20110515680 - Ocean Pointe
20110515681 - Ocean Watch
20110515682 - Oceana Palms
20110516944 - Sabal Palms
20110516945 - Shadow Ridge
20110516946 - Shadow Ridge II
20110516947 - Summit Watch at Park City
20110516948 - Sunset Pointe
20110516949 - Surfwatch
20110516950 - Timber Lodge
20110516951 - Villas at Doral
20110516952 - Waiohai
20110516953 - Canyon Villas
20110517370 - Desert Springs II
20110517371 - Grand Chateau
20110517372 - Grande Vista
20110517373 - Willow Ridge Lodge
20110517374 - Harbour Lake
20110517375 - Kauai Beach Club
20110517376 - Ko'Olina Beach Club
20110517377 - Legends Edge
20110517378 - Maui Ocean Club
20110517379 - Maui Ocean Club Sequel

 

[dioxide45]

10/3/2011 Update

It looks like the Orange County Comptroller didn't get everything recorded on Friday September 30th. Here are a couple more docs recorded on Monday October 3rd.

20110517621 - Shadow Ridge II
20110517624 - Waiohai

 

[dioxide45]

It appears that there are also a few filings that were "hidden". Using the normal search criteria didn't bring them up. These were all dated 9/14/2011 and recorded on 10/3/2011.

20110517618 - Mountain Side
20110517619 - Newport Coast
20110517620 - Shadow Ridge II
20110517622 - Waiohai
20110517623 - Villas at Doral

 

[dioxide45]

20110517622 - Timber Lodge

I had one labeled with the incorrect resort name.

 

[GregT]

They uploaded another slug of documents in early February -- now up to 123M points in the Trust.

From a quick scan, it appears that the major contributors are Ritz Carlton Vail (3M pts) and Kauai Lagoons (6M pts).

The balance of the contributions appear to be small quantities of re-acquired weeks from most other properties -- very little MOC and no Ko Olina added.

Will update the list asap. Thx

Greg

 

[dioxide45]

They uploaded another slug of documents in early February -- now up to 123M points in the Trust.

From a quick scan, it appears that the major contributors are Ritz Carlton Vail (3M pts) and Kauai Lagoons (6M pts).

The balance of the contributions appear to be small quantities of re-acquired weeks from most other properties -- very little MOC and no Ko Olina added.

Will update the list asap. Thx

Greg

I think they recently completed construction on two other buildings at Kauai Lagoons, that likely is the source of those 6MM points.

 

[slum808]

Are there any estimates of how much of the 123M points are already sold?

 

[dioxide45]

Here are all the links to new the documents. All were recorded on 2/3/2012, 2/6/2012, and the last one for some reason was recorded on 2/16/2012. All were dated 1/31/2012

20120058330 - Desert Springs I
20120058338 - Desert Springs II
20120058464 - Shadow Ridge
20120058549 - Timber Lodge
20120058577 - Shadow Ridge II
20120058655 - Newport Coast
20120058685 - Desert Springs II
20120058716 - Shadow Ridge
20120058851 - Shadow Ridge II
20120058860 - Timber Lodge
20120058912 - Ritz Carlton Club - Vail
20120058918 - Shadow Ridge II
20120058919 - Timber Lodge
20120058920 - Fairway Villas
20120059113 - Grand Chateau
20120059119 - Manor Club
20120059399 - Manor Club Sequel
20120059460 - Mountain Valley Lodge
20120059491 - Grand Residence Lake Tahoe
20120059542 - Surfwatch
20120059546 - Grand Chateau
20120059547 - Fairway Villas
20120059550 - Barony Beach Club
20120059552 - Grande Ocean
20120059557 - Harbour Club
20120059561 - Harbour Pointe
20120059563 - Heritage Club
20120059564 - Summit Watch
20120059565 - Mountain Side
20120059566 - Monarch at Sea Pines
20120059567 - Kauai Beach Club
20120059568 - Mountain Side
20120059569 - Canyon Villas
20120059571 - Maui Ocean Club
20120059573 - Maui Ocean Club Sequel
20120059574 - Ocean Watch
20120059580 - Kauai Beach Club
20120059583 - Canyon Villas
20120059995 - Maui Ocean Club
20120059999 - Maui Ocean Club Sequel
20120060133 - Waiohai
20120060220 - Kalanipu'u
20120060226 - Canyon Villas
20120060228 - BeachPlace Towers
20120060230 - Crystal Shores
20120060268 - Cypress Harbour
20120060273 - Grande Vista
20120060283 - Willow Ridge Lodge
20120060291 - Harbour Lake
20120060303 - Imperial Palms
20120060307 - Lakeshore Reserve
20120060455 - Legends Edge
20120060466 - Waiohai
20120060516 - Ocean Pointe
20120060519 - Oceana Palms
20120060531 - Sabal Palms
20120060534 - Villas at Doral
20120060541 - BeachPlace Towers
20120060545 - Crystal Shores
20120060548 - Grande Vista
20120060572 - Willow Ridge Lodge
20120060626 - Harbour Lake
20120060633 - Legends Edge
20120060638 - Ocean Pointe
20120060639 - Villas at Doral
20120060640 - Grande Vista
20120060642 - Lakeshore Reserve
20120060650 - Ocean Pointe
20120060685 - Royal Palms
20120083828 - Newport Coast

 

[dioxide45]

Here is the latest breakdown of points by property. One piece of news is that there is a new resort in the trust; Mountain Valley Lodge. There are actually 137MM points in the trust. They didn't record the notices in the proper order thus the last one recorded did not contain the final cumulative total amount of points in the trust.

Resort........................Trust Points
Newport Coast...................23,422,750
Kalanipu'u......................17,086,500
Timber Lodge....................15,224,500
Crystal Shores...................9,277,500
Ko'Olina.........................9,249,750
Maui Ocean Club..................8,815,750
Ritz Carlton Club - Vail.........7,496,000
Grand Chateau....................7,359,000
Oceana Palms.....................6,607,250
Canyon Villas....................4,104,000
Grande Vista.....................3,775,500
Willow Ridge Lodge...............3,026,500
Grand Residence Lake Tahoe.......2,967,500
Maui Ocean Club Sequel...........2,719,750
Shadow Ridge II..................2,493,000
Ocean Watch......................2,263,750
Harbour Lake.....................1,983,250
Ocean Pointe.....................1,311,000
Shadow Ridge.......................956,250
Desert Springs II..................721,750
Lakeshore Reserve..................720,250
Fairway Villas.....................605,750
Kauai Beach Club...................601,750
Waiohai............................586,750
Cypress Harbour....................577,250
Surfwatch..........................357,250
BeachPlace Towers..................303,750
Mountain Side......................297,750
Desert Springs I...................277,000
Sabal Palms........................258,000
Villas at Doral....................232,500
Barony Beach Club..................224,500
Royal Palms........................215,750
Legends Edge.......................205,500
Mountain Valley Lodge..............183,500
Manor Club.........................169,500
Summit Watch.......................161,250
Manor Club Sequel..................147,000
Harbour Pointe.....................115,500
Grande Ocean.......................104,000
Imperial Palms......................94,750
Monarch at Sea Pines................65,000
Sunset Pointe.......................49,500
Harbour Club........................31,750
Heritage Club.......................14,500
Grand Total....................137,461,250

 

[GregT]

Here is the latest breakdown of points by property. One piece of news is that there is a new resort in the trust; Mountain Valley Lodge. There are actually 137MM points in the trust. They didn't record the notices in the proper order thus the last one recorded did not contain the final cumulative total amount of points in the trust.

Resort........................Trust Points
Newport Coast...................23,422,750
Kalanipu'u......................17,086,500
Timber Lodge....................15,224,500
Crystal Shores...................9,277,500
Ko'Olina.........................9,249,750
Maui Ocean Club..................8,815,750
Ritz Carlton Club - Vail.........7,496,000
Grand Chateau....................7,359,000
Oceana Palms.....................6,607,250
Canyon Villas....................4,104,000
Grande Vista.....................3,775,500
Willow Ridge Lodge...............3,026,500
Grand Residence Lake Tahoe.......2,967,500
Maui Ocean Club Sequel...........2,719,750
Shadow Ridge II..................2,493,000
Ocean Watch......................2,263,750
Harbour Lake.....................1,983,250
Ocean Pointe.....................1,311,000
Shadow Ridge.......................956,250
Desert Springs II..................721,750
Lakeshore Reserve..................720,250
Fairway Villas.....................605,750
Kauai Beach Club...................601,750
Waiohai............................586,750
Cypress Harbour....................577,250
Surfwatch..........................357,250
BeachPlace Towers..................303,750
Mountain Side......................297,750
Desert Springs I...................277,000
Sabal Palms........................258,000
Villas at Doral....................232,500
Barony Beach Club..................224,500
Royal Palms........................215,750
Legends Edge.......................205,500
Mountain Valley Lodge..............183,500
Manor Club.........................169,500
Summit Watch.......................161,250
Manor Club Sequel..................147,000
Harbour Pointe.....................115,500
Grande Ocean.......................104,000
Imperial Palms......................94,750
Monarch at Sea Pines................65,000
Sunset Pointe.......................49,500
Harbour Club........................31,750
Heritage Club.......................14,500
Grand Total....................137,461,250

Dioxide,

Fantastic -- thank you for doing this -- and for catching the new total points.

Best,

Greg

 

[Whirl]

I have read many people commenting that Crystal Shores is a difficult exchange. That has not been my limited, but recent experience. As the resort with the 4th highest trust inventory ( relative to what seems like a small resort size), that may partially explain why it has not proven as difficult as anticipated.

Now, that said, I have no insight into what relative demand is and if it still outstrips the supply ( possible ) or if the weeks are high demand or low demand weeks in the season. If they are all lower/off season ( as I have previously observed with the Hilton Head resorts...) then exchanges may still be tough, despite what appears to be significant trust inventory.


Just curious really, about others' thoughts. Not sure if I am interpreting this correctly.

Also, how did they get this inventory, was it unsold weeks when they went to the DC plan? If so, then that likely confirms they are largely off season.

 

[dioxide45]

I have read many people commenting that Crystal Shores is a difficult exchange. That has not been my limited, but recent experience. As the resort with the 4th highest trust inventory ( relative to what seems like a small resort size), that may partially explain why it has not proven as difficult as anticipated.

Now, that said, I have no insight into what relative demand is and if it still outstrips the supply ( possible ) or if the weeks are high demand or low demand weeks in the season. If they are all lower/off season ( as I have previously observed with the Hilton Head resorts...) then exchanges may still be tough, despite what appears to be significant trust inventory.


Just curious really, about others' thoughts. Not sure if I am interpreting this correctly.

Also, how did they get this inventory, was it unsold weeks when they went to the DC plan? If so, then that likely confirms they are largely off season.

Crystal Shores is a difficult exchange through II, but getting inventory through DC seems to be rather easy, at least it was for us. Those resorts with a lot of inventory in the trust will quickly find themselves to be plentiful in the exchange company. Whenever a trust owner wants to trade for non trust inventory, Marriott is going to place something in from the trust in the exchange company. This is most likely to be from those resorts heavy in trust inventory. There is no way demand from trust owners can fill all that trust inventory. A lot of it probably also finds itself to II via bulk deposits.

 

[SueDonJ]

Here is the latest breakdown of points by property. One piece of news is that there is a new resort in the trust; Mountain Valley Lodge. There are actually 137MM points in the trust. They didn't record the notices in the proper order thus the last one recorded did not contain the final cumulative total amount of points in the trust. ...

Thanks again, Dioxide. Down to two now with no conveyances, Custom House Tower and StreamSide. (No comment, just a note to make it easy to find.)

 

[sparty]

I think they recently completed construction on two other buildings at Kauai Lagoons, that likely is the source of those 6MM points.

6 million seems very low given it was 52 villas they brought on-line. I would anticipate it would be closer to 17 million... Maybe more is on the way, or Marriott is holding back? Why?

 

[dioxide45]

I had one of the Maui Ocean Club notices categorized under Maui Ocean Club Sequel. Thanks GregT for catching that. I have also added the percentage of the trust for each resort.

Resort............................Total.......Percentage
Newport Coast..................23,422,750.......17.04%
Kalanipu'u.....................17,086,500.......12.43%
Timber Lodge...................15,224,500.......11.08%
Crystal Shores..................9,277,500.......6.75%
Ko'Olina........................9,249,750.......6.73%
Ritz Carlton Club - Vail........7,496,000.......5.45%
Grand Chateau...................7,359,000.......5.35%
Oceana Palms....................6,607,250.......4.81%
Maui Ocean Club Sequel..........6,325,500.......4.60%
Maui Ocean Club.................5,210,000.......3.79%
Canyon Villas...................4,104,000.......2.99%
Grande Vista....................3,775,500.......2.75%
Willow Ridge Lodge..............3,026,500.......2.20%
Grand Residence Lake Tahoe......2,967,500.......2.16%
Shadow Ridge II.................2,493,000.......1.81%
Ocean Watch.....................2,263,750.......1.65%
Harbour Lake....................1,983,250.......1.44%
Ocean Pointe....................1,311,000.......0.95%
Shadow Ridge......................956,250.......0.70%
Desert Springs II.................721,750.......0.53%
Lakeshore Reserve.................720,250.......0.52%
Fairway Villas....................605,750.......0.44%
Kauai Beach Club..................601,750.......0.44%
Waiohai...........................586,750.......0.43%
Cypress Harbour...................577,250.......0.42%
Surfwatch.........................357,250.......0.26%
BeachPlace Towers.................303,750.......0.22%
Mountain Side.....................297,750.......0.22%
Desert Springs I..................277,000.......0.20%
Sabal Palms.......................258,000.......0.19%
Villas at Doral...................232,500.......0.17%
Barony Beach Club.................224,500.......0.16%
Royal Palms.......................215,750.......0.16%
Legends Edge......................205,500.......0.15%
Mountain Valley Lodge.............183,500.......0.13%
Manor Club........................169,500.......0.12%
Summit Watch......................161,250.......0.12%
Manor Club Sequel.................147,000.......0.11%
Harbour Pointe....................115,500.......0.08%
Grande Ocean......................104,000.......0.08%
Imperial Palms.....................94,750.......0.07%
Monarch at Sea Pines...............65,000.......0.05%
Sunset Pointe......................49,500.......0.04%
Harbour Club.......................31,750.......0.02%
Heritage Club......................14,500.......0.01%
Grand Total...................137,461,250.....100.00%

 

[GregT]

I had one of the Maui Ocean Club notices categorized under Maui Ocean Club Sequel. Thanks GregT for catching that. I have also added the percentage of the trust for each resort.

Resort............................Total.......Percentage
Newport Coast..................23,422,750.......17.04%
Kalanipu'u.....................17,086,500.......12.43%
Timber Lodge...................15,224,500.......11.08%
Crystal Shores..................9,277,500.......6.75%
Ko'Olina........................9,249,750.......6.73%
Ritz Carlton Club - Vail........7,496,000.......5.45%
Grand Chateau...................7,359,000.......5.35%
Oceana Palms....................6,607,250.......4.81%
Maui Ocean Club Sequel..........6,325,500.......4.60%
Maui Ocean Club.................5,210,000.......3.79%
Canyon Villas...................4,104,000.......2.99%
Grande Vista....................3,775,500.......2.75%
Willow Ridge Lodge..............3,026,500.......2.20%
Grand Residence Lake Tahoe......2,967,500.......2.16%
Shadow Ridge II.................2,493,000.......1.81%
Ocean Watch.....................2,263,750.......1.65%
Harbour Lake....................1,983,250.......1.44%
Ocean Pointe....................1,311,000.......0.95%
Shadow Ridge......................956,250.......0.70%
Desert Springs II.................721,750.......0.53%
Lakeshore Reserve.................720,250.......0.52%
Fairway Villas....................605,750.......0.44%
Kauai Beach Club..................601,750.......0.44%
Waiohai...........................586,750.......0.43%
Cypress Harbour...................577,250.......0.42%
Surfwatch.........................357,250.......0.26%
BeachPlace Towers.................303,750.......0.22%
Mountain Side.....................297,750.......0.22%
Desert Springs I..................277,000.......0.20%
Sabal Palms.......................258,000.......0.19%
Villas at Doral...................232,500.......0.17%
Barony Beach Club.................224,500.......0.16%
Royal Palms.......................215,750.......0.16%
Legends Edge......................205,500.......0.15%
Mountain Valley Lodge.............183,500.......0.13%
Manor Club........................169,500.......0.12%
Summit Watch......................161,250.......0.12%
Manor Club Sequel.................147,000.......0.11%
Harbour Pointe....................115,500.......0.08%
Grande Ocean......................104,000.......0.08%
Imperial Palms.....................94,750.......0.07%
Monarch at Sea Pines...............65,000.......0.05%
Sunset Pointe......................49,500.......0.04%
Harbour Club.......................31,750.......0.02%
Heritage Club......................14,500.......0.01%
Grand Total...................137,461,250.....100.00%

Dioxide,

Thanks again for compiling this -- it is very valuable to the TUG/Marriott timeshare community.

What is interesting to me is the sheer quantity of Hawaiian inventory in the Trust -- primarly Kauai Lagoons/Maui Ocean Club/Ko Olina.

As per early in this thread, it suggests that points users will be able to easily access these properties. It will be interesting to see if ROFR is more active on the other properties (ie Waiohai/Kauai Beach Club) versus these three properties, but that's speculation for a different thread.

Again, thanks for compiling this, and we'll keep an eye out for future filings.

Best,

Greg

 

[dioxide45]

Some Facts About the Trust

With assistance from GregT, I have been able to inventory the entire trust. This entailed identifying all the weeks within the trust, the resort, and season. In some cases I was able to identify the view and unit size, but this wasn't the case for all resorts/weeks. I also found a few errors in some of the conveyance documents (weeks conveyed more than once, missing week numbers, etc). This was all captured from public records of the recorded conveyance notices.

There are a total of 40,678 weeks conveyed to the trust (not including Grand Residence). This is really a small percentage of all owner/trust inventory combined. The trust is mainly made up of inventory from Florida, Hawaii, and California. Which makes sense since this is where many of the newer resorts were that were not sold out.

Here is the breakdown by state; CA 34.0%, HI 19.5%, FL 19.3%, NV 7.2%, MO 4.9%, SC 4.8%, AZ 4.3%, CO 4.0%, NJ 1.1%, UT 0.6%, VA 0.4%

It is surprising how few weeks the trust actually owns in South Carolina given the number of resorts there. The trust only has 1965 weeks from SC resorts. Only 223 are summer, platinum, or platinum plus. So the trust really has to rely on owner conversions to points (DC or MR) or exchanges in to II to get inventory for point based reservations in SC.

Unfortunately I don't have counts of total intervals at each resort, so there is no way for me to identify what percentage of ownership the trust has at each resort.

 

[Cmore]

GregT and Dioxide,
Ditto's on the Thank you for your work compiling this information. It is very interesting and ceertainly provides insite on where to look for inventory. I am an enthusiastic DC points user, but also keep a little dry powder in II, so I can use the best source for trades or adding points days to II trades, so far so good.

Again, thanks for the various contributions you guys make.

 

[GregT]

With assistance from GregT, I have been able to inventory the entire trust. This entailed identifying all the weeks within the trust, the resort, and season. In some cases I was able to identify the view and unit size, but this wasn't the case for all resorts/weeks. I also found a few errors in some of the conveyance documents (weeks conveyed more than once, missing week numbers, etc). This was all captured from public records of the recorded conveyance notices.

There are a total of 40,678 weeks conveyed to the trust (not including Grand Residence). This is really a small percentage of all owner/trust inventory combined. The trust is mainly made up of inventory from Florida, Hawaii, and California. Which makes sense since this is where many of the newer resorts were that were not sold out.

Here is the breakdown by state; CA 34.0%, HI 19.5%, FL 19.3%, NV 7.2%, MO 4.9%, SC 4.8%, AZ 4.3%, CO 4.0%, NJ 1.1%, UT 0.6%, VA 0.4%

It is surprising how few weeks the trust actually owns in South Carolina given the number of resorts there. The trust only has 1965 weeks from SC resorts. Only 223 are summer, platinum, or platinum plus. So the trust really has to rely on owner conversions to points (DC or MR) or exchanges in to II to get inventory for point based reservations in SC.

Unfortunately I don't have counts of intervals by resort, so there is no way for me to identify what percentage of ownership the trust has at each resort.

Dioxide,

Thank you for the kind comments, but you've truly done the vast majority of this -- thank you!

It is interesting that there are 40K weeks in the Trust -- compared to the 720K(??) total weeks in the system? A small fraction indeed.

Granted, they are good weeks in the Trust, but they are limited.

Interesting to see what gets added in the future -- and thanks again for doing this!

Best,

Greg

 

[ral]

In post #161, the entry 20120058912 Ritz-Carlton - Vail seems to point to Document 20120058330 Desert Springs 1.

Thank you for putting together this listing. I'm sure it was a monumental task and I am grateful that you were able to locate and share this information.

 

[dioxide45]

More Inventory Added

On 8/1/2012 it appears that MVCI added more inventory to the trust. I don't have the time tonight to go through it all but will do so at some point in the near future.

 

[GregT]

On 8/1/2012 it appears that MVCI added more inventory to the trust. I don't have the time tonight to go through it all but will do so at some point in the near future.

Dioxide,

Many many new filings -- I'm happy to help as before, thanks for pointing out the new filings.

Best,

Greg