PCB has such a low MF because of the distress the developer was in at the time Wyndham stepped in. The developer was selling Tower 2 (the tower the walkway from the parking garage goes to) and sold Wyndham Tower 3 (the tower to the right as you are looking from the parking garage). In exchange for Wyndham stepping in and buying Tower 3 they negotiated a HUGE deal with MFs. Tower 2 owners pay approximately 85% of Tower 2 and Tower 3 MFs for the entire property. Therefore, Wyndham owners are only left paying 15% of the MFs for the property (plus taxes, reserves, insurance, etc). This is why the MFs there are so low.There is no teaser rate. Expect it to be closer to the newer high points resorts than the legacy resorts.. And talking about Beach resorts; Panama City Beach (another Gulf Coast, mixed use property) is one of the lower mf rate resorts in the system.
This is the other reason why Tower 1 has yet to be built. Wyndham would like to have it developed but the developer is not willing to cut any slack on MFs for the new tower and, as a matter of fact, wants to renegotiate the deal for the other two towers if/when Tower 1 gets built and Wyndham participates. Wyndham does NOT want to renegotiate because they got a great deal when the real estate markets fell apart and they bought Tower 3. So, Tower 1 stands as only some foundation work and the building is missing its second pool, etc.
Yes, PCB has very low MFs due to good timing and negotiations on Wyndham's part when they bought Tower 3, not because MFs are typically low for these beach resorts. Another factor that plays in here is the cost of a week. More points means the MFs get to be spread across more people keeping the MFs appearing low when, in fact, the points required, and the associated MFs, is quite expensive. Think Emerald Grand in Destin...super expensive from a points perspective (though Wyndham got a very similar deal as PCB when they bought their roughly 40% of that resort, too).
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