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Royal Resorts - Grand Residences

O

ocdb8r

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Wondering if there has been any update on this project? Any TUG members owners (fractional or whole)? Pricing? Timeline?

It's been quite a while since I heard anything and while I know the downturn put a lot on hold, I am wondering what the official line is from Royal on this project is these days.
 
ocdb8r said:
Wondering if there has been any update on this project? Any TUG members owners (fractional or whole)? Pricing? Timeline?

It's been quite a while since I heard anything and while I know the downturn put a lot on hold, I am wondering what the official line is from Royal on this project is these days.
Click to expand...

We attended a presentation in October. For one group of prospects they are focusing on existing Tri-Royal owners who have RTU expiring between now and 2023. They are making an offer to apply the residual value toward the Grand Residences.

They are really selling the benefits of high-end ownership with added services and benefits like availability of twice a day maid service and cooks. It looks like a fantastic project and may fit the needs of those who travel to that area for a month or so for vacation/holiday.

I was not in the market for this type of ownership, so I did not make strong effort to mentally capture the specific numbers. However, I recall the lowest investment would be about $250k US for a 5 week time period. Investments went up from there based on location, time on the calendar, unit size, etc. I also seem to recall 2012 as the opening date.

I'm sure that there are others with better memories than mine to clarify the numbers.

Mike
 
May be a better bet to own a condo and hire your own housekeeper. No weekly maintenance fees, you can rent it out when you're not using it. On the other hand, I don't know how much a beachfront condo would cost :eek:
 
pjrose said:
May be a better bet to own a condo and hire your own housekeeper. No weekly maintenance fees, you can rent it out when you're not using it. On the other hand, I don't know how much a beachfront condo would cost :eek:
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I think with those kind of dollars I would be inclined to do that as well. I don't need daily maid service or a cook or a butler. But there would still be some kind of HOA fees if it was in a complex.

That reminds me of another concern with Grand Residences. They would not allow a person to rent out unused weeks. Also, maintenance fees were in the neighborhood of about a $1000 per week x 5 weeks.

Mike
 
Grand Residence

Did the tour last week at the model thay have have the Sands. Three bedroom unit, very nice and upscale.

Cost for 2 bedroom during top three prime periods, weeks 2-6, weeks 7-11 and weeks 27-31 was $332,000 with maintenace fee of $1,500/week. With 80% down and 10% upon completion in late 2012 preconstruction pricing drops to $289,800. They are currently offering four options for preconstruction purchases with cost reductions of 10%, 6%, 2%, 0% based on amount of down payment.

Construction to begin this fall with occupancy for phase 1 starting in late 2012.

They are offering 5 week minimum fractions, but due to demand they are also offering 2 and 3 week segments, but only when there are two confirmed buyers one for each segment.
 
Yikes, that is a lot of bucks. Are they really selling them for that?

I wonder what they will cost on the resale market?
 
Well weeks are selling for a $1/week so since this is 5 weeks.

It will be $5 on Ebay soon.

Can't wait.

KT
 
Anybody else tour the model at the Sands, wow? I still think the Hacienda units are deluxe, but these are a whole new enchilada. I think the MF's start at more like $1,500/wk which they'd have to for all the added space and appointments. There are two espresso makers, closet door light switches, art work, multiple hot tubs all upscale appliances and furniture, etc too much to even list.

Problem with owning a condo is you find out why the MF's are $1,500/week at a place like this.

Yes, I think they are looking at two years to open, ground clearing going on now. I recall the beach front units are sold.

They will also be rented through an upscale hotel firm, they reported that somewhere in their "news".
 
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Royals

Cheapest one I have ever seen on ebay sold for around $400 but it was a September week. Very low demand week. I had a chance to buy a week 20 2 bedroom Royal Haciendas two weeks ago for $5000.00 and passed on it.
There are a few Royals on ebay currently.
 
nazclk said:
Cheapest one I have ever seen on ebay sold for around $400 but it was a September week. Very low demand week. I had a chance to buy a week 20 2 bedroom Royal Haciendas two weeks ago for $5000.00 and passed on it.
There are a few Royals on ebay currently.
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Was that an every year or every other? I would have snapped that up in a minute if it had been a little later. We already have a 24 and 25.
 
In this climate I think it might be easier to find individual buyers willing to pay some discount off the nearly $3mm per unit and be done with it rather than fish around for 10 buyers per unit willing to part with $300k.
 
moonlightgraham said:
In this climate I think it might be easier to find individual buyers willing to pay some discount off the nearly $3mm per unit and be done with it rather than fish around for 10 buyers per unit willing to part with $300k.
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They are doing that, selling the unit for the whole year. I think you get some extra storage space all to yourself if you own the unit and can maybe even have a small pet. Easier or not I don't know, but they are doing either. Does seem the most expensive units are selling first.
 
moonlightgraham said:
In this climate I think it might be easier to find individual buyers willing to pay some discount off the nearly $3mm per unit and be done with it rather than fish around for 10 buyers per unit willing to part with $300k.
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I assume that $3mm or $300k is PLUS a hefty MF per week/month?
 
Grand Residences

We also took the tour and were given pricing for the GR.

Pricing for weeks in January/February:

2 bedroom, OV, 2 weeks = $172,000.

3 bedroom, BF, 2 weeks = $292,000.

2 bedroom, BF, 3 weeks = $375,000.

2 bedroom, BF, 2 weeks = $213,000.

Three 3 bedroom model was about $3,000 sq.ft.

Although they were super beautiful, we decided to pass on purchasing at the GR residences. The price for a two week block is more than we paid for our entire house.

One can buy an entire BF condo in Cancun in the $300,000 - $600,000 range with monthly maint. fees of $600 - $1,000. This would be
 
We drove down to Puerto Morelos for lunch, then decided to visit the site of the Royal Residences. We drove and drove, south passed the El Cid, and Jade Now, through a swamp and finally after 5 km saw a clearing in the jungle. So far the land has been cleared and fenced in, but there is no work in progress.
 
I did not go to Haciendas last year so it must be 2 years ago when I was there that I met a couple who had just bought in. This is along wait!!
 
Does anyone know if the rest of the Royal Resorts members, i.e. Cancun and Hacienda, will be able to take their card key to the Grand Residences and use their facilities? :D If not, will the members of the Grand Residences be able to take their card key to the other Royal Resorts and use their facilities? :annoyed: What I’m trying to determine is if it’s a one way or two way street. We already have a one way street when using the shuttle at the Royal Hacienda. Cancun Royal Resort members cannot use the Royal Hacienda shuttle. But, Royal Hacienda members can use the Cancun shuttle. :doh:
 
jschmidt said:
Does anyone know if the rest of the Royal Resorts members, i.e. Cancun and Hacienda, will be able to take their card key to the Grand Residences and use their facilities? :D If not, will the members of the Grand Residences be able to take their card key to the other Royal Resorts and use their facilities? :annoyed: What I’m trying to determine is if it’s a one way or two way street. We already have a one way street when using the shuttle at the Royal Hacienda. Cancun Royal Resort members cannot use the Royal Hacienda shuttle. But, Royal Hacienda members can use the Cancun shuttle. :doh:
Click to expand...

I really never asked the question during our preview, but if I was a betting man I would say that the transportation that they will provide from Cancun will be a tour of Grand Residences and maybe a day pass if you attend a sales presentation. With this being a very upscale resort, I would anticipate there may be differences in reciprocity.

Mike
 
jschmidt said:
Does anyone know if the rest of the Royal Resorts members, i.e. Cancun and Hacienda, will be able to take their card key to the Grand Residences and use their facilities? :D If not, will the members of the Grand Residences be able to take their card key to the other Royal Resorts and use their facilities? :annoyed: What I’m trying to determine is if it’s a one way or two way street. We already have a one way street when using the shuttle at the Royal Hacienda. Cancun Royal Resort members cannot use the Royal Hacienda shuttle. But, Royal Hacienda members can use the Cancun shuttle. :doh:
Click to expand...

Yes, it is to be a one way street. GR can use everything, nobody else can use GR.
 
AE68 said:
We also took the tour and were given pricing for the GR.

Pricing for weeks in January/February:

2 bedroom, OV, 2 weeks = $172,000.

3 bedroom, BF, 2 weeks = $292,000.

2 bedroom, BF, 3 weeks = $375,000.

2 bedroom, BF, 2 weeks = $213,000.

Three 3 bedroom model was about $3,000 sq.ft.

Although they were super beautiful, we decided to pass on purchasing at the GR residences. The price for a two week block is more than we paid for our entire house.
Click to expand...

I am curious:

Are these the actual prices people are paying and what are the projected maintenance fees? What would be the value proposition for someone to buy rather than buying resale?

Mike
 
mikenk said:
I am curious:

Are these the actual prices people are paying and what are the projected maintenance fees? What would be the value proposition for someone to buy rather than buying resale?

Mike
Click to expand...

I don't get the feeling they are selling like hot cakes, but as mentioned I think the beachfront are sold out. That's sort of "a reason"; you have the money, you like what you are buying, you want a particular unit and weeks in a row same unit (only way they even sell these). In a rather small resort like this you may wait a long time before what you want comes on the market resale. I understood the 2BR MF is $1,500/wk (and so go up from there). IF we were to buy, which we're not, it'd have to be a 2BR not facing north, certain floor and particular weeks. Personally if I could afford it and wanted to buy I wouldn't wait for resale, I'd only wait if that's the only way I could afford it, just me.
 
Grand Residences prices

The prices listed above were the preconstruction prices we were quoted in writing from our sales rep. There is a discount (up to 10%) if you make a large downpayment. Maint. fees were $1500 and up for each week.

We were told that other Royal members could NOT use the GR but do not know if the GR members can use the other Royals.
 
Update?

Reviving this thread just to see if any recent visitors have any news. I'm curious what the current timeline is and any other little tidbits. I won't my Royals fix until next year due to some other long trips this year, so it's always nice to hear what's being said to those currently visiting or touring....

Also, what's the status of the Royal Haciendas? Are they anywhere close to sold out?
 
ocdb8r said:
Reviving this thread just to see if any recent visitors have any news. I'm curious what the current timeline is and any other little tidbits. I won't my Royals fix until next year due to some other long trips this year, so it's always nice to hear what's being said to those currently visiting or touring....

Also, what's the status of the Royal Haciendas? Are they anywhere close to sold out?
Click to expand...

I don't know much about Grand Residences because we haven't been interested. We don't have that kind of jack laying around and have a daughter that is starting college in the Fall. I know that last year, due to the fact that they only had like 2% of inventory to sell during weeks 24, 25, 26, they were allowing you to switch your week to a winter week for no charge. The assumption there is that people tend to purchase the same weeks they visit and I was told the sales staff didn't have anything to sell. I am sure there are other times of the year that the inventory is a little deeper. I am going soon and I will ask what percentage remains unsold.
 
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