ROFR metric / Ongoing ROFR Activity

[taterhed]

Uh, my point was: If the resort fails to respond, the right is waived. Yes, I would inquire if not received and request proof if exercised but not received (tracking/postmark).

 

[Dean]

Uh, my point was: If the resort fails to respond, the right is waived. Yes, I would inquire if not received and request proof if exercised but not received (tracking/postmark).

Have you ever heard of anyone successfully closing and having a resort listed on their account without a formal waiver? I have't with Marriott or Disney. My points were the buyer doesn't have to be notified by Marriott and the denial doesn't have to be received, only sent. It sounds like we're saying much the same thing but from different sides. I would agree if they actually miss the deadline, it should be considered waived.

 

[amy241]

Just signed a purchase agreement for Marriott Ko ‘Olina oceanview platinum for $9500. Do you think this will pass ROFR? Please keep your fingers crossed for us!

 

[Mlvnsmly]

You never know, but according to rofr.net, one just failed at 10k at the beginning of the month. There definitely seems to be an uptick in MVC exercising rofr as of late. Best of luck!

 

[californiagirl]

So excited to report that our Waiohai, Island View, EOY passed ROFR at $3500. We heard 6 days from submitting ROFR. I’ve added it to the database.

 

[amy241]

So excited to report that our Waiohai, Island View, EOY passed ROFR at $3500. We heard 6 days from submitting ROFR. I’ve added it to the database.

Wow, that was fast. Congrats.

 

[taterhed]

I think the only reason your MAW passed is the Marriott distaste for EOY's.

 

[johnf0614]

I think the only reason your MAW passed is the Marriott distaste for EOY's.

I’ve lost out on 3 EOY contracts in the past 4 months.


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[taterhed]

I’ve lost out on 3 EOY contracts in the past 4 months.


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3 Marriotts? Wow.

Not counting MGR/MGV They have been grabbing a bunch of those Plats (gold's too?)

 

[johnf0614]

3 Marriotts? Wow.

Not counting MGR/MGV They have been grabbing a bunch of those Plats (gold's too?)

Yep. GC and GV EOY platinums. Waiting to hear on another EOY GC now.


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[taterhed]

I believe that. I lost a Grande Vista EOY 3br...... heard of a lot of ROFR's on Grande Vista and Grande Chateau.

 

[chemteach]

I believe that. I lost a Grande Vista EOY 3br...... heard of a lot of ROFR's on Grande Vista and Grande Chateau.

I guess I got lucky 5 months ago on my 3 BR GC. At the time, people thought Marriott wouldn't ROFR GC because they had so much GC already in the points program. Goes to show - you just never know... The GC units are going for almost nothing on ebay, but it sounds like they will just get ROFR'd by Marriott...

 

[LUVourMarriotts]

I've been speaking with resale operations for a bunch of different reasons. I was on a call with a manager yesterday. I don't know if this is truth or not, but this is what she told me. She said there was an internal announcement that gave them insight into the final plans for the whole merger. She said that $150,000,000 has been allocated to exercise ROFR on resale transfers, so they will be grabbing as much inventory as possible. Again, I have no idea if this is truth or not, but figured I'd share.

 

[TXTortoise]

Tracks with what Steven Ting reported, and somewhat reflects what has been reported since January.

Waiting to see the first $20K+ Maui unit they take back. ;-)

 

[amy241]

I've been speaking with resale operations for a bunch of different reasons. I was on a call with a manager yesterday. I don't know if this is truth or not, but this is what she told me. She said there was an internal announcement that gave them insight into the final plans for the whole merger. She said that $150,000,000 has been allocated to exercise ROFR on resale transfers, so they will be grabbing as much inventory as possible. Again, I have no idea if this is truth or not, but figured I'd share.

This does not bode well for my Marriott Ko Olina Oceanview $9500 purchase. . . We are still waiting to hear. They are very flush with cash right now it appears.

 

[dioxide45]

I've been speaking with resale operations for a bunch of different reasons. I was on a call with a manager yesterday. I don't know if this is truth or not, but this is what she told me. She said there was an internal announcement that gave them insight into the final plans for the whole merger. She said that $150,000,000 has been allocated to exercise ROFR on resale transfers, so they will be grabbing as much inventory as possible. Again, I have no idea if this is truth or not, but figured I'd share.

Perhaps they see a huge selling opportunity to Westin and Sheraton owners, so they need points to back up those sales. It is usually a 6-12 month process from when they take a week in through ROFR before it is actually conveyed to the trust, converted to points and ready to sell. They need to be planning now.

 

[californiagirl]

This is exactly why we were delighted that Marriott waived their ROFR. It may be because it is EOY, even years that they waived. Who knows? We are ok with that...the odd year weeks that we inquired about were higher priced to begin with and they wouldn’t budge on price AND they wanted reimbursement for 2018 maintenance fees. Our total out of pocket costs would have been higher.

This complements our even year MOC week. That week is in the Destination Club so we can trade for points in an odd year if we want to go to Hawaii one week each year, or we can go even years to Maui for a week, then Kauai for a week. Or trade MOC for points and go two weeks to Kauai.

 

[jeepie]

This is exactly why we were delighted that Marriott waived their ROFR. It may be because it is EOY, even years that they waived. Who knows? We are ok with that...the odd year weeks that we inquired about were higher priced to begin with and they wouldn’t budge on price AND they wanted reimbursement for 2018 maintenance fees. Our total out of pocket costs would have been higher.

This complements our even year MOC week. That week is in the Destination Club so we can trade for points in an odd year if we want to go to Hawaii one week each year, or we can go even years to Maui for a week, then Kauai for a week. Or trade MOC for points and go two weeks to Kauai.

Deleted after rereading post more closely.

 

[hajjah]

This topic has been such a big help to me now as a new Marriott owner at GV after losing 4 ROFR's in Orlando and Las Vegas. I cannot find the list of Marriotts that do not require the ROFR. I do remember the NJ and St. Thomas, but that's about it. I think that one of the Desert Club's is also included in that list. If I were to refer friends to join Marriott as owners, I would advise them to buy one without ROFR.

 

[dioxide45]

This topic has been such a big help to me now as a new Marriott owner at GV after losing 4 ROFR's in Orlando and Las Vegas. I cannot find the list of Marriotts that do not require the ROFR. I do remember the NJ and St. Thomas, but that's about it. I think that one of the Desert Club's is also included in that list. If I were to refer friends to join Marriott as owners, I would advise them to buy one without ROFR.

From the Weeks FAQ sticky;
https://tugbbs.com/forums/index.php?threads/marriotts-right-of-first-refusal-rofr.13111/

 

[hajjah]

Yep, that's the list that I needed. Thanks so much!

 

[Jerrygomi]

Marriott exercised ROFR on Red Season Desert Springs Villas 2 Every Other Year purchase at $500. Good news was they gave me the bad news in about a week. Will add to database.

 

[Saintsfanfl]

They are grabbing everything. I had a Ocean Pointe Silver OS fail a week ago.

They don't always make much sense. I was selling a Harbour Lake Platinum earlier in the year and they did not want it for $1. I sold it to a private party for $1,400 and they exercised ROFR. Go figure.

 

[amy241]

Marriott exercised ROFR on my $9500 Marriott Ko Olina purchase. Got the bad news tonight. Added to ROFR.net.

 

[JIMinNC]

They are grabbing everything. I had a Ocean Pointe Silver OS fail a week ago.

We may see even more ROFR ahead based on comments they made during their 2Q Earnings Conference Call yesterday.

They said their development margin fell to around 20% in the 2Q from 23% last quarter, primarily due to "increased product costs stemming from a higher mix of new inventory being sold vs. reacquired inventory." They are projecting that the development margin for the second half of the year will be back over their 20% goal, and will benefit from "lower product costs due to a higher mix of reacquired inventory being sold." They went on to say their goal is to reduce inventory spending by using reacquired inventory, and reducing new inventory spending and capital expense spending and that will continue to benefit their margins.

So, sounds like fewer new locations and more ROFR, at least in North America. They did say they had a second Bali location coming in 2020, and they needed to focus their growth on Asia-Pacific to leverage their existing investment there and create more attractive economies of scale in that region.