Thanks for posting. IMO, Myrtle Beach is already overloaded with HGVC resorts. So, I will have no desire to utilize it. But what I am interested in is will this resort trade with Legacy HGVC members.
All they need to do is lower the Club Season Window to 6 months (instead of 9 months) to keep everyone happy.
I'm not really sure there are any of those in North Carolina. Or were those separate thoughts?
This.
Strand Capitol must be making a mint off of their SC Properties. If I remember correctly, Strand is fronting the money and charges a ton for their deeds. They buy back almost everything through ROFR and sell it again.HGVC Ocean 23 Proposal
Strand Capital proposes Ocean 23, a new Oceanfront Myrtle Beach Hotel MyrtleBeachSC News
During yesterday's City Council meeting, Strand Capital presented their proposals for a brand new hotel situated on the oceanfront of Myrtle Beach.myrtlebeachsc.com
The problem with HHI is obtaining the property.
I don't understand why HGVC doesn't implement the same strategy.
Might be more efficient trying to get resale purchasers to upgrade.
Yup. My hope comes in if there is a piece of property that opens up, Strand just might go after it. I never thought they would build more in MB (or anywhere for that matter). Proposing a new building there gives me hope that they just might in HHI.
I don't understand either. The only scenario I can think of is that between the Legacy HGVC, HVC and now BG, they have way too much inventory they have to pay MF's on. Throw in the fact that they just spent millions of dollars on DRI and BG, I'm not sure they want to keep paying the MF's on the deeds they own. HGV is also a public company where as Strand is private. They don't have to worry what their stock does, they can make investments as they see fit.
We need Strand to expand their operations outside of SC. I really don't see HGV expanding their portfolio because of what @1Kflyerguy posted in post #38
So I see outside-investors as our only near-term option.
Hopefully someone outside of Strand. A new partner would be even better. Before all of the talks of DRI buying out HGV back in 2019, that’s what all of the talk was about, 3rd party and fee-for-service additions. A new addition in Pigeon Forge was talked about. It was supposed to be like Chicago where it was the top few floors of an existing hotel. That was in the 2019 Q2 investors call right before the DRI take over was talked about. Haven’t heard of anything since.
Since Max is just an inter-collection exchange system, I would expect whatever new resorts they build to be bookable by legacy owners. The only question for me is whether it would be HGVC, The Club, Embarc, Bluegreen, or a new collection - the last option for a new collection seems unlikely unless it's another acquisition.
Any resort that goes into BG or DRI/ HVC would go into their trust. Not sure how much they would make off of adding properties to the trust, especially if they are fee-for-service/3rd party properties. Maybe Embarc so they can offer more points in their trust but I still think there is a lack of monetary motivation for someone on the outside.
napa/sonoma would have year round appeal and not just for oenophiles. great call.