SDO True Platinum

[cubigbird]

I'm curious about a few things regarding SDO true platinum weeks. What did they get purchased for originally, and if one was to trade in one to leverage and upgrade, what kind of equity do they have?

What is the recent trading power in II? VSE to VSE since we are seeing much less bulk deposits, as well as outside the network?

 

[DeniseM]

Originally, they were sold by a different company - pre-Starwood. Generally, people buy them to requalify them - is that what you mean?

I don't know that you would see a measurable difference in trading power between a Plat week and a floating 1-52 week. In the past, there was a small increase in trading power when we did trade tests, but it's been a long time since we did a trade test.

 

[cubigbird]

I was thinking of picking up one to retro or use it to trade in and use the equity for something much more expensive. I'm curious to the paper value that VSE considers them to be.

 

[DeniseM]

I have owned at SDO for years, and my experience has been that SDO is not a strong renter - it's an older resort with limited amenities and it can't compete with all the newer mega resorts in the area.

It might be worthwhile to requalfy it, but I think you can only trade it in to the Flex/Home Options resorts like Nanea, The FlexOption group, and the new Mexican group, and buying from the developer at those resorts is not a good value, even with a trade in.

 

[echino]

I have owned at SDO for years, and my experience has been that SDO is not a strong renter - it's an older resort with limited amenities and it can't compete with all the newer mega resorts in the area.

SDO will not rent for prices close to WKV, but will it reliably rent above maintenance fees if I book a March week? I see 2-beds listed on Redweek for $1,700+ for March, is that pretty much a going rate which is easy to get?

Also, what's availability like for 2-beds for March when the reservation window opens? Is it gone in seconds after midnight, or does it persist at least for a few hours or days for a true Plat week?

What's a fair current market price for a true Plat 2-bed?

 

[DeniseM]

On Redweek, you can't just look at the list price, because many owners don't have a clue and price them way too high - you have to look at the ones that have actually rented.

On Redweek there are 27 listings for March, and only 2 have rented. As the time gets closer, you will see prices drop.

My experience has been that you are doing well to cover your maintenance fees. In fact, I gave up trying to rent mine, because I get more value out of trading it. For 2018, I traded it for Princeville.

*You don't get any more rent for a true plat, becase you can reserve the same weeks with a 1-52 floating week.

*I had no trouble reserving a March week with my 1-52 floating week for 2018, but I did it as soon as the reservation window opened. The Plat weeks are in a different pool, so I am not sure if they are easier/harder.

 

[oneohana]

Originally, they were sold by a different company - pre-Starwood. Generally, people buy them to requalify them - is that what you mean?

I don't know that you would see a measurable difference in trading power between a Plat week and a floating 1-52 week. In the past, there was a small increase in trading power when we did trade tests, but it's been a long time since we did a trade test.

I believe the pre-Starwoods are the 1-52 float and the true platinum are the ones Starwood sold.

 

[schenriq]

Also, what's availability like for 2-beds for March when the reservation window opens? Is it gone in seconds after midnight, or does it persist at least for a few hours or days for a true Plat week?

I have the A-side 1BR Platinum with the full kitchen and in 2016 I was able to get a mid-March week about 1 week after the window opened. Then got it rented for MF plus some change in TUG Marketplace.

For 2018, I got a late March week 1 day after window opened. I did not push my luck this time. Rumor has it that the 1-52 week folks have a harder time reserving MLB training weeks but who am I to test fate.

 

[DeniseM]

I believe the pre-Starwoods are the 1-52 float and the true platinum are the ones Starwood sold.

You are right - I said it backwards - thanks for the correction.

 

[djyamyam]

I have owned at SDO for years, and my experience has been that SDO is not a strong renter - it's an older resort with limited amenities and it can't compete with all the newer mega resorts in the area.

I'm going to disagree with you on part of this. It doesn't rent for double the MFs like some other resorts but the 2BRs do rent for 40-50% more than MFs. It doesn't have the pizzaz of the WKV or MCV but it's renovated, it's super close to the TPC golf courses and has attraction.

SDO will not rent for prices close to WKV, but will it reliably rent above maintenance fees if I book a March week? I see 2-beds listed on Redweek for $1,700+ for March, is that pretty much a going rate which is easy to get?

Also, what's availability like for 2-beds for March when the reservation window opens? Is it gone in seconds after midnight, or does it persist at least for a few hours or days for a true Plat week?

2BRs on Redweek are advertised from $1700+ and do rent for that. I can speak to that with experience - I've raised my prices over the years. The 2BRs always rent well. The premium 1BRs (large side of lockoff) rent but the margins are tighter. The small side 1BRs go from $700-$900 but would require the most work.

In terms of reserving, if you have a 1-52 ownership, you have to book the 2BRs right when they are available (for a March ressie), otherwise they disappear quickly. It never used to be this way but Starwood/Vistana changed their reservation/inventory practices a few years back and that's when you needed to book 12 years out to the day. If you do some searches on TUG you'll see a number of posts about this. 1BR premiums will stick around a day and the small 1BRs for a couple days.

I would agree about trade value as a lot of Tuggers in the past purchased SDO for trade into HI when Vistana was consistently bulk depositing HI into II. However, with Vistana stopping that practice, folks have been unloading their SDOs more.

I can't speak to reserving 2BR true platinums for March but I would say 1BR true platinums last a lot longer online than the 1-52s for trying to reserve. I have both of those

 

[schenriq]

To answer OP's question, I got this 1BR A-side Plat+ for around $250 with closing/transfer all in. That was in 2013 and mine is EOY-even.

2014, I tried for WKORV(N) and I remember getting calls weekly from II but all those are for October 2014 weeks and my kids are already in school so, no can do. I did an exchange back into SDO for a 2BR 2014 Thnxgiving week and there was no upgrade fee then. Also, that was the year when the refurb was just finished so most everything in the 2BR suite smelled brand new.

In addition, I got an AC for that SDO deposit and I snagged a Marriott DSV1 2013 Thanksgiving with that As mentioned earlier, I rented my 2016 and hopefully my 2018 week too.

 

[echino]

FYI, SDO true Platinum annual 2-bedroom lock off went for $203.50 on eBay today, with free transfer and closing.

 

[schenriq]

Yep, saw that bid last night before I went to bed. I didn't think it would be the last and winning bid. I thought about sniping but I realized I may not requalify ever. Hopefully a TUGger got it.

 

[echino]

Yep, saw that bid last night before I went to bed. I didn't think it would be the last and winning bid. I thought about sniping but I realized I may not requalify ever. Hopefully a TUGger got it.

My bid was $201, but I am sort of happy I didn't get it in the end. It would not close before the year end, so 2018 is wasted because all high demand weeks will be gone by that time. No staroptions. Expensive for a trader because of MFs and a need to pay for II and/or RCI membership and exchange fees. Rental potential is not stellar at all. Quality is lower than other resorts in the area such as WKV etc. So I guess the unit really has no value in it, at least for me.

 

[DeniseM]

Expensive for a trader because of MFs and a need to pay for II and/or RCI membership and exchange fees.

Just to clarify - You always have to pay for a II or RCI membership (one way or the other), and exchange fees - so that is not a cost that is specific to this resort - it's just the nature of exchanging.

You can buy at one of the Vistana resorts in Florida and get a slightly cheaper Vistana exchanger, but you may have a little more trading power with SDO, because Florida has more supply than demand. You can buy outside of Vistana and get a lower MF, but then you won't have the Vistana to Vistana priority. So it just depends on what your goals are.

SVR 2 bd. L/O: $1,004
SDO 2 bd. L/O: $1,135 (approx. - not on our chart)

Whether you buy in FL or AZ may be based on what you prefer for a home resort. I used to own both, but found out I didn't care for Orlando weather, so we gave that one away.

 

[VacationForever]

I was thinking of picking up one to retro or use it to trade in and use the equity for something much more expensive. I'm curious to the paper value that VSE considers them to be.

This conversation about potentially requalifying a true platinum 2BR SDO annual week is an interesting one. I believe requalifying this timeshare has become less attractive since the merger/spinoff, and hence the low price.

Before ILG merged with Vistana, many saw a path to achieve SPG Platinum for Life through 5 Star Elite status. It was a very expensive way to obtain SPG Platinum status. After the spinoff etc, hotel merger/purchase between Marriott and Starwood, the path to SPG Platinum actually has become easier to obtain based on reciprocity of Marriott and SPG loyalty programs. With the MVC program and the enrollment of pre June 2010 weeks, many multi-week (3 to 4 weeks or more) Marriott timeshare owners achieved Presidential status and above, and thereby SPG and Marriott hotel platinum status, by accident. Some may be just a little short of points to achieve the Presidential status and by buying a small number of points, it can bring them up to that status. Even for someone like me who had not owned a Marriott before June 2010, the path to Presidential / SPG and Marriott platinum hotel status through MVC is still less expensive than the Starwood/Vistana timeshare path.

 

[fluke]

I was thinking of picking up one to retro or use it to trade in and use the equity for something much more expensive. I'm curious to the paper value that VSE considers them to be.

Last time I did a presentation, they valued it around $26000 for trade in credit , etc. I have seen very little difference lately in II. If you use RCI you do get about 5-8 more tpu per lockoff.