ROFR metric / Ongoing ROFR Activity

[JoJo12]

Passed ROFR, 3 BR, MOC Lahaina, fixed week 32, 47k. It took 6 days, including the weekend. Using Syed as my broker. I put it in the data base.

I will soon join your club of TS owners. No flaming over our decision, please. It was a perfect week for us and I am not in the life stage where I want to have to call at just the right time hoping to get a week I need for the grandkids. I did weeks of reading here on TUG before we made our decision how to proceed. Thanks to all of you for your posts and guidance.

Interesting that we still have a Marriott encore stay to use at MOC, but we will be there as educated owners for the poor salesman that draws us.

Any other week 32 owners, please send me a pm if you want to connect next year.

Pam

 

[TXTortoise]

Now if we could just get a field on the database for unit/floor for the fixed week sales. ;-)

Funny, but my Encore salesman is going to have the same experience with me in February. Will be interesting.

 

[GregT]

Pam, congratulations on your purchase, that is a terrific week to own! What unit and floor did you purchase?

Best,

Greg

 

[GM600]

I received notice that my Grande Vista 3 bedroom platinum passed ROFR at $4,000. I'm looking forward to having my first Marriott added to my portfolio.

 

[Beachspace]

I received notice that my Grande Vista 3 bedroom platinum passed ROFR at $4,000. I'm looking forward to having my first Marriott added to my portfolio.

That's a pretty good price for an annual 3Bed Plat. My annual 3Bed gold passed for around $1600-$1900 (not sure what was on the waiver). Congrats on the purchase!

 

[StevenTing]

Congrats on the MOC week, Pam. Was this the week that was listed on Redweek? You said you worked with Syed so maybe it wasn't. I wouldn't mind a Week 32 but I was looking for 2 weeks when I bought might so ended up with Weeks 22/23.

 

[csodjd]

Marriott just exercised ROFR on me. Maui Ocean Club (original towers), odd year usage, ocean view, 2-bedroom, $6,500.

 

[Hankmoon]

Marriott just exercised ROFR on me. Maui Ocean Club (original towers), odd year usage, ocean view, 2-bedroom, $6,500.

Is that good or bad? What are the implications when they exercise ROFR? Are you the buyer or seller?

 

[TXTortoise]

Is that good or bad? What are the implications when they exercise ROFR? Are you the buyer or seller?

Generally speaking...

Seller - Gets what they asked for the week
Buyer - Loses the deal
ROFR - Tends to set the minimum market price for the week, at that point in time.

Interesting that it's this late in the year, as prior threads suggest Marriott has a budget for ROFR, which may be reduced late in the year.

The last ROFR.net reported sale was last December, which passed at $7000.
Maui Ocean Club - Molokai, Maui and Lanai Wings 12/16/2016 Platinum EOY 2BR Ocean View $7,000.00 Passed 5infam

 

[dioxide45]

Marriott just exercised ROFR on me. Maui Ocean Club (original towers), odd year usage, ocean view, 2-bedroom, $6,500.

Please be sure to log it on www.rofr.net.

 

[Hankmoon]

Generally speaking...

Seller - Gets what they asked for the week
Buyer - Loses the deal
ROFR - Tends to set the minimum market price for the week, at that point in time.

Interesting that it's this late in the year, as prior threads suggest Marriott has a budget for ROFR, which may be reduced late in the year.

The last ROFR.net reported sale was last December, which passed at $7000.
Maui Ocean Club - Molokai, Maui and Lanai Wings 12/16/2016 Platinum EOY 2BR Ocean View $7,000.00 Passed 5infam

So I guess this means Marriott wanted the deal to be at least $7000.

 

[csodjd]

Generally speaking...

Seller - Gets what they asked for the week
Buyer - Loses the deal
ROFR - Tends to set the minimum market price for the week, at that point in time.

Interesting that it's this late in the year, as prior threads suggest Marriott has a budget for ROFR, which may be reduced late in the year.

The last ROFR.net reported sale was last December, which passed at $7000.
Maui Ocean Club - Molokai, Maui and Lanai Wings 12/16/2016 Platinum EOY 2BR Ocean View $7,000.00 Passed 5infam

That was sort of what I was banking on in offering $6500. It was close to the $7000 that passed, and late in the year. I also considered that if they exercise, which they did, and don't get it sold quickly, they "eat" the 2018 MF. Allowing it to go through meant they would have gotten the 2018 payment from me. Nonetheless, I was advised yesterday that they were exercising. (I was the buyer.)

 

[csodjd]

Please be sure to log it on www.rofr.net.

Done.

 

[dioxide45]

That was sort of what I was banking on in offering $6500. It was close to the $7000 that passed, and late in the year. I also considered that if they exercise, which they did, and don't get it sold quickly, they "eat" the 2018 MF. Allowing it to go through meant they would have gotten the 2018 payment from me. Nonetheless, I was advised yesterday that they were exercising. (I was the buyer.)

Marriott won't turn around and sell that week. They will convey it to the DC trust and sell the points allocated to it. It is a big chess game of moving pieces and they either get the MF money from trust owners or they monetize the points and rent available inventory. They won't end up 'eating' the MFs.

 

[csodjd]

Marriott won't turn around and sell that week. They will convey it to the DC trust and sell the points allocated to it. It is a big chess game of moving pieces and they either get the MF money from trust owners or they monetize the points and rent available inventory. They won't end up 'eating' the MFs.

So, basically, they buy it from a weeks owner and drop it into their DC points inventory, making one less unit available for a weeks owner to use.

 

[Dean]

So, basically, they buy it from a weeks owner and drop it into their DC points inventory, making one less unit available for a weeks owner to use.

But it also takes away one person vying for a weeks reservation. It likely decreases exchange inventory but doesn't make much difference on direct reservations.

 

[Hankmoon]

That was sort of what I was banking on in offering $6500. It was close to the $7000 that passed, and late in the year. I also considered that if they exercise, which they did, and don't get it sold quickly, they "eat" the 2018 MF. Allowing it to go through meant they would have gotten the 2018 payment from me. Nonetheless, I was advised yesterday that they were exercising. (I was the buyer.)

Did you really want it or did you not really care if you got it? If you really wanted it, paying $500 extra over the life of the ownership would have been minimal.

 

[csodjd]

Did you really want it or did you not really care if you got it? If you really wanted it, paying $500 extra over the life of the ownership would have been minimal.

Good point. And I decided I didn't really care. I was buying it mostly just to gain access to the 13 month reservation window to go along with my OF 2-bedroom Napili. But I realized that, after 2019, my youngest is out of high school and I don't have to worry about scheduling spring break or summer vacation, we can go any time. So, what the heck.

 

[Saintsfanfl]

Good point. And I decided I didn't really care. I was buying it mostly just to gain access to the 13 month reservation window to go along with my OF 2-bedroom Napili. But I realized that, after 2019, my youngest is out of high school and I don't have to worry about scheduling spring break or summer vacation, we can go any time. So, what the heck.

If you want access to the 13 month reservation window you can buy any unit and rent it out for above break even or use it as a misc trader.

 

[csodjd]

If you want access to the 13 month reservation window you can buy any unit and rent it out for above break even or use it as a misc trader.

True. I was after the middle ground... a unit that would be easily rentable, but also one that would be nice to have/use ourselves if we wanted. An OV two-bedroom in the older buildings seemed a good fit for that. Awfully easy to rent that for MF or more, and not awful to stay in or put family into either.

 

[Steve Fatula]

Passed ROFR. $2.50 per point destinations program.

 

[Fasttr]

Passed ROFR. $2.50 per point destinations program.

Nice....you are the second one in this price range I have read about....way to slip one past the ROFR goalie!!!

 

[Steve Fatula]

I don't think it was luck, just organized things a little differently.

 

[taterhed]

Change your name to protect the innocent (steve) and tell us what you did to pass rofr?

 

[dioxide45]

Passed ROFR. $2.50 per point destinations program.

Was it actually submitted at a $2.50 pp valuation? I see a recent entry on www.rofr.net at $2.75 that failed.