ROFR metric / Ongoing ROFR Activity

[TXTortoise]

I bought two Ko Olina 2B Oceanview odd year units for $4,500 and $5,300. Passed ROFR in early and late June. Wondering how good of a deal did I get?

Put them on ROFR.net so easy to compare.

 

[vacationtime1]

We were ROFRed on 2500 pts for $2500 twice back to back July/August. Now under contract @ $1.50 a point. We'll see how it goes.

Please keep us updated; it will be a significant data point.

 

[jstoeber]

Marriott exercised ROFR on Platinum 2 BR (Oceanside) at Ocean Pointe for $5900.

 

[driftdiver]

Second time was a charm. Passed ROFR on 2,500 pts at $2.50/pt. Submitted 8/24 Cleared 8/26 (Wednesday). Headed to ROFR.net
I wonder if they have a weekly/monthly budget?

 

[celosch]

Marriott exercised ROFR on an annual, oceanfront platinum at Barony Beach for $8500. Had a feeling that they would, but figured it was worth a shot.

 

[starzim]

Marriott exercised ROFR on an annual, oceanfront platinum at Barony Beach for $8500. Had a feeling that they would, but figured it was worth a shot.

Too bad how long did it take Marriott to respond? I have an Aruba OCean club in for thier review now and its beena feww weks

thanks

 

[mjm1]

MVC waived ROFR on a Platinum Ko Olina EOY Odd 2BR OV for $5,000. Seller paid all closing costs per my request. Net would likely be around $4,500. We are happy with the purchase as we already own a EOY Even unit there. I already added it to the database.

Edit to add- received waiver in less than one week.

Best regards.

Mike

 

[TXTortoise]

Too bad how long did it take Marriott to respond? I have an Aruba OCean club in for thier review now and its beena feww weks

thanks

Find out from your broker when it was submitted. I’ve never had it exceed two calendar weeks. I don’t remember how much time Aruba allows.

 

[BJRSanDiego]

Put them on ROFR.net so easy to compare.

How long after the deed was filed and sent to Marriott did it take Marriott to put you into their system?

 

[TXTortoise]

How long after the deed was filed and sent to Marriott did it take Marriott to put you into their system?

Now that's a whole different number...generally 4-8 weeks, though I haven't done one while they have reduced staffing due to Covid.

 

[starzim]

Find out from your broker when it was submitted. I’ve never had it exceed two calendar weeks. I don’t remember how much time Aruba allows.

Thanks!

 

[starzim]

Is there any systematic pattern or process Marriott follows to waive or exercise ROFR? After reviewing ROFR.net some of the same resorts, same size unit one priced higher ROFR was exercised and same exact unit priced lower was waived? Are some locations more likely to be exercised or waived? Just a bit confusing.
Thanks Steve

 

[Dean]

Is there any systematic pattern or process Marriott follows to waive or exercise ROFR? After reviewing ROFR.net some of the same resorts, same size unit one priced higher ROFR was exercised and same exact unit priced lower was waived? Are some locations more likely to be exercised or waived? Just a bit confusing.
Thanks Steve

I'm sure they have their plan but a large part of any effective ROFR plan is to keep you guessing as to the cutoff but there are other factors like available cash in the account they use and internal inventory needs.

 

[ski_sierra]

Is there any systematic pattern or process Marriott follows to waive or exercise ROFR? After reviewing ROFR.net some of the same resorts, same size unit one priced higher ROFR was exercised and same exact unit priced lower was waived? Are some locations more likely to be exercised or waived? Just a bit confusing.
Thanks Steve

By letting an occasional unit go at a lower price, Marriott makes buyers think that they can get away with a low price. So then buyers keep offering low prices to sellers and then Marriott swoops in and purchases at a low price. If MVC exercised ROFR on all low priced deals then eventually buyers will stop offering low price offers and the price of the weeks will increase. I don't think that helps Marriott. Eventually the week will be sold (maybe decades later) but they don't want to overpay. They also want some weeks in the secondary market as that gives them an opportunity to sell points.

Just an observation based on ROFR data based on my 3 attempts to buy MGC. I have no insider knowledge of why and when MVC exercises ROFR.

 

[starzim]

By letting an occasional unit go at a lower price, Marriott makes buyers think that they can get away with a low price. So then buyers keep offering low prices to sellers and then Marriott swoops in and purchases at a low price. If MVC exercised ROFR on all low priced deals then eventually buyers will stop offering low price offers and the price of the weeks will increase. I don't think that helps Marriott. Eventually the week will be sold (maybe decades later) but they don't want to overpay. They also want some weeks in the secondary market as that gives them an opportunity to sell points.

Just an observation based on ROFR data based on my 3 attempts to buy MGC. I have no insider knowledge of why and when MVC exercises ROFR.

Thanks good info

 

[ahdah]

I just signed offer to purchase a 3 bedroom garden view, platinum season at SurfWatch. The offer was $10,000. Just hoping it will pass ROFR. Wondering how long it will take to hear from Marriott. I have my fingers crossed. Willl post when I hear.

 

[TXTortoise]

I just signed offer to purchase a 3 bedroom garden view, platinum season at SurfWatch. The offer was $10,000. Just hoping it will pass ROFR. Wondering how long it will take to hear from Marriott. I have my fingers crossed. Willl post when I hear.

I sometimes think it depends as much on your broker as it does Marriott. I've had electronic filings clear ROFR the next day, others have a Wednesday batch process that cleared on Friday. Others have gone to the limit at two weeks. Marriott ROFR staffing was an issue in May/June, but I assume since ROFR is active again, staffing is back up.

 

[Howtch]

We were ROFRed on 2500 pts for $2500 twice back to back July/August. Now under contract @ $1.50 a point. We'll see how it goes.

Did you pass or fail?

 

[ahdah]

Sad news, Marriott exercised their ROFR at $10,000. About a month ago the did not exercise their ROFR on a 2 bedroom, platinum at $3000. ????

It was a 3 bedroom in garden, platinum.

 

[TXTortoise]

Sad news, Marriott exercised their ROFR at $10,000. About a month ago the did not exercise their ROFR on a 2 bedroom, platinum at $3000. ????

It was a 3 bedroom in garden, platinum.

I’m not sure about last month. But ROFR is back after being non-existent in May-Jun

interesting data point though. The uniqueness of a 3 BR might have influenced the ROFR.

 

[rlewismail]

Did you pass or fail?

Yes it passed! 2500 @ $1.50

 

[ahdah]

I’m not sure about last month. But ROFR is back after being non-existent in May-Jun

interesting data point though. The uniqueness of a 3 BR might have influenced the ROFR.

The two bedroom, platinum, passed on 6/11/2020, ocean vista, $3000. I would say that was a wonderful buy.

 

[starzim]

1 bedroom Aruba Ocean Club ocean view passed on 6/10/2020, update ROFR.net

 

[Howtch]

Found out this morning that Marriott waived ROFR for my purchase at $2/pp.

 

[jstoeber]

Marriott just waived ROFR for platinum 2 BR oceanside annual usage week at Ocean Pointe -$6500.
Will update on ROFR.net