Welk now part of HRC [MERGED]

[RunCat]

I think the mobile home park, south of the Escondido resort, was owned by Welk as well. but was likely not part of the sale. I believe the Owners there have some rights to the resort amenities.

 

[GTLINZ]

From a link IN the link sent Monday night at 7:29PM ...

"Excluded from the sale to Marriott are a number of properties that Welk Resorts owns and are not a fit for the Residence Club plans. Among them is a still undeveloped 22-acre site near Poipu beach in Kauai that is entitled for 168 timeshare units or condominiums. It also owns some land near the Escondido resort and also real estate in Branson near that timeshare property.

Also family-owned is the Los Angeles-based Welk Group Inc. that owns a number of commercial properties, as well as an entertainment division. Larry Welk is chairman of that company."

 

[Guitarmom]

High up on the mountain behind the Welk San Diego Resort(s) is an area called Rimrock. On one of Adrienne's breakfast chats, she mentioned that the Welk family owns the land now known as Rimrock. Lots are still for sale up there and pop up regularly on Realtor.com at roughly $200,000 per lot. The houses that have been built are majestic. At any rate, I'm guessing that the Welk family did not include their ownership of Rimrock lots when they sold the resort. Of course, I may be wrong, but the theory fits all the clues I've seen.

 

[Guitarmom]

I think the mobile home park, south of the Escondido resort, was owned by Welk as well. but was likely not part of the sale. I believe the Owners there have some rights to the resort amenities.

At some point (in the 1980s as far as I can tell), the manufactured home village "condominiumized." Now the homeowners own the entire village: each owns the lot on which his home sits plus as a group they own everything else in common. I've heard that some discounts are offered to Champagne Village residents, and there is an automatic gate that provides a shortcut to the golf course, restaurant, etc.

 

[ScoopKona]

I spent some time browsing the Welk property list. Branson aside (and only because that place is loaded with timeshare options), any one of their properties is a pretty good fit with the HRC, I think.

There are three or four that I would trade to right now, just to go see them. So that's not bad pickin'.

I think if HRC was smart, they'd offer some sort of "get to know each other" trade system for Welk and Hyatt owners to access the new (for them) options. I don't really care how they go about it. Points, week for week, whatever. This would also show which properties are going to see added trade stress. I'm guessing Santa Fe, Baja and the Hawaii properties for Welk. And Carmel for Hyatt. (Welk looks like they skew West Coast, with a lop-sided portfolio which seems tailor-made for Californians.)

 

[VictorB]

[Threads merged.] <-- SueDonJ

Press Release

Welk Hospitality Group has entered into an agreement with Marriott Vacations Worldwide Corporation (“MVW”) (NYSE: VAC) to sell the Welk Resorts portfolio of vacation resorts, programs and property management contracts for approximately $430 million, including approximately 1.4 million MVW common shares. The acquisition is expected to close early in the second quarter of 2021. After the transaction closes, MVW intends to rebrand the Welk-branded vacation resorts in California, Colorado, Missouri, New Mexico and Cabo San Lucas, Mexico as Hyatt Residence Club properties.

More dilution?

 

[RX8]

I don’t own Welk but it is a good move. Welk should do better as a Hyatt brand. Besides, how people today even know the name Lawrence Welk?

 

[bogey21]

No doubt Marriott will figure a way to get Welk and/or Hyatt Owners to spring for some dollars to be part of this bigger and better organization...

George

 

[Pamplemousse]

I don’t think this is new news.

I feel like someone posted about this on the II community last spring?

edit- yes, there was a press release in April-
Marriott Vacations Worldwide Completes Acquisition of Welk Resorts
ORLANDO, Fla. , April 1, 2021 /PRNewswire/ -- Marriott Vacations Worldwide (NYSE: VAC) ("MVW" or the "Company") announced today that it has completed the previously announced acquisition of Welk Resorts , one of the largest independent timeshare companies in North America , for $485 million ,
Apr 01, 2021

https://ir.marriottvacationsworldwide.com/static-files/0e302356-c677-443a-b8a9-5d06f2aecb8b

 

[pedro47]

Who is this Lawrence Welk guy and what Is his claim to fame?

 

[dioxide45]

This is old news. Many old posts from January when it was first announced.

HRC to acquire Welk Resorts [MERGED]

This could be interesting... Dave

tugbbs.com

FYI, VAC buying Welk

Converting them to Hyatt's. https://ir.marriottvacationsworldwide.com/static-files/8b44b753-aace-4b55-ae4a-98071967fd14

tugbbs.com

And from April when the deal closed;

Welk now part of HRC [MERGED]

Thought it was time for a new thread as HRC sent the email this morning that the transaction has now closed and Welk is officially a part of HRC. " I am pleased to share that the transaction has closed, and necessary planning and analysis are already underway to help determine all the...

tugbbs.com

 

[csalter2]

Who is this Lawrence Welk guy and what Is his claim to fame?

You don’t know who Lawrence Welk is? If not, you’re a youngster.

 

[gln60]

Who is this Lawrence Welk guy and what Is his claim to fame?

A one and a two and a three..my parents loved Lawrence Welk…he had a very very successful show every week..memories

 

[csalter2]

I don’t think this is new news.

I feel like someone posted about this on the II community last spring?

edit- yes, there was a press release in April-
Marriott Vacations Worldwide Completes Acquisition of Welk Resorts
ORLANDO, Fla. , April 1, 2021 /PRNewswire/ -- Marriott Vacations Worldwide (NYSE: VAC) ("MVW" or the "Company") announced today that it has completed the previously announced acquisition of Welk Resorts , one of the largest independent timeshare companies in North America , for $485 million ,
Apr 01, 2021

https://ir.marriottvacationsworldwide.com/static-files/0e302356-c677-443a-b8a9-5d06f2aecb8b

This is not news.

Also, I’ve been to two Welk resorts including the one outside of San Diego and it’s okay not fantastic. It certainly is not in the league of Hyatt, and I believe the Marriott’s are nicer too.

 

[dioxide45]

and I believe the Marriott’s are nicer too.

Well... yeah. The Marriott's are nicer than the Hyatts.

 

[csalter2]

Well... yeah. The Marriott's are nicer than the Hyatts.

I have only been to one Hyatt and that’s the one down the way from the Maui Ocean Club in Ka’anapali. There’s no comparison. That Hyatt in Ka’anapali is a lot nicer than any of Marriott’s I’ve been in to date and I’ve been to quite a few.

 

[dioxide45]

I have only been to one Hyatt and that’s the one down the way from the Maui Ocean Club in Ka’anapali. There’s no comparison. That Hyatt in Ka’anapali is a lot nicer than any of Marriott’s I’ve been in to date and I’ve been to quite a few.

That is of course the premier resort in the Hyatt system. Perhaps one of only a few in the system on the same level? The two I have been to; Windward Pointe and Coconut Plantation were good, but overall not any better than the average resort in the Marriott system. There will of course be some resorts that are better than others, but we have noticed over the past few years that Marriott has gotten a lot more consistent in the quality of the villas they have been putting out after renovations. Perhaps we get better villas at Marriott resorts because we own with Marriott and get worse villas at Hyatt since we always trade in through II.

 

[billymach4]

It may be old news to y'all. For me as a part time visitor to the land of TUG I had not heard this news. But I did visit Welk in Escondido many years ago.

Now who is this guy Lawrence Welk? He had a variety show on Sunday nights? Seems I remember a bubble machine?

 

[dioxide45]

It may be old news to y'all. For me as a part time visitor to the land of TUG I had not heard this news. But I did visit Welk in Escondido many years ago.

Now who is this guy Lawrence Welk? He had a variety show on Sunday nights? Seems I remember a bubble machine?

You just need to come around more often