ROFR metric / Ongoing ROFR Activity

[WahooWah]

Marriott exercised ROFR on a 3BR Fixed week 48 unit 3206 in the Lahaina Tower at the Maui Ocean Club for $52,000.

 

[TXTortoise]

Looks like that is over $5/pt. The Marriott algorithm must add more value for Maui and 3BR.

 

[JIMinNC]

Marriott exercised ROFR on a 3BR Fixed week 48 unit 3206 in the Lahaina Tower at the Maui Ocean Club for $52,000.

Looks like that is over $5/pt. The Marriott algorithm must add more value for Maui and 3BR.

My only reaction is WOW! And a week 48 at that. Not a super high demand week either - first week of December. Would never have thought they would have paid that.

 

[TXTortoise]

Unfortunately ROFR is starting actually set a high floor for more and more weeks.

 

[bazzap]

Unfortunately ROFR is starting actually set a high floor for more and more weeks.

I guess that may depend on whether you are buying or selling...?

 

[GregT]

Marriott exercised ROFR on a 3BR Fixed week 48 unit 3206 in the Lahaina Tower at the Maui Ocean Club for $52,000.

That is amazing -- we've talked about the days when Marriott ROFRs the highest quality weeks, irrespective of price. This appears to be the situation -- I would think it will reverse when the economy softens, but that is stunning to see. Thanks for posting this.

Best,

Greg

 

[taterhed]

Well, I'm feeling pretty darn good about my WKORV OFD right about now.

Never could get my mind around the cost of a 2 or 3 br MM1 OF

 

[Wahoo]

Marriott exercised its ROFR on my attempted purchase of an OceanWatch Platinum-plus (July 4) ocean view week at $10k.

 

[TXTortoise]

Marriott exercised its ROFR on my attempted purchase of an OceanWatch Platinum-plus (July 4) ocean view week at $10k.

So 3950 point value to Marriott equates to $2.53/point.

Don't forget to post to ROFR.net.

 

[Wahoo]

So 3950 point value to Marriott equates to $2.53/point.

Don't forget to post to ROFR.net.

It was worth a try... I didn't realize how good I had it back 2017 when I first started buying MVC and had several slide through ROFR in the $0.80-$2/point range.

 

[chemteach]

Last year, I purchased a Timber Lodge ski week for $4200. Ski weeks there get 4325 DC points (but of course, it's not enrolled...) I was also able to purchase a 3 BR Grand Chateau for $3200 including current year's use. Those units get 4625 DC points (again, not enrolled...). Glad I purchased last year. (Some people say the Grand Chateau weeks are least likely to get ROFRed because so many weeks are already in the DC.) It surprises me that the Timber Lodge Summer weeks only get 3300 points, when the ski weeks get 4325 points. I thought Lake Tahoe was at least as busy during summer as during ski season... Would be cool if Marriott ever had a reasonable cost method for bringing weeks into the DC...

 

[Wahoo]

Marriott exercised its ROFR on my attempted purchase of an OceanWatch Platinum-plus (July 4) ocean view week at $10k.

Tried again, this time at $11k for another OceanWatch Platinum-plus (July 4) ocean view week. This time it was successful, Marriott just notified they are waiving their ROFR.

In both instances, Marriott's ROFR response time was less than a week from the date I signed the contract.

 

[GregT]

Tried again, this time at $11k for another OceanWatch Platinum-plus (July 4) ocean view week. This time it was successful, Marriott just notified they are waiving their ROFR.

In both instances, Marriott's ROFR response time was less than a week from the date I signed the contract.

I'm glad this went through -- this is a high quality week and it's good to see that Marriott isn't buying all of them. Congrats and enjoy your week!

Best,

Greg

 

[Jo Jo]

Marriott Aruba Ocean Club - 1 Bdrm, Platinum Season

Does anyone have any insights in regards to minimum $ threshold for ROFR waiving/passing for Marriott Aruba O/C, 1 bedroom, ocean view, platinum season?

I am not seeing any recent updates in the ROFR DB for this property.

Thx.

 

[jmhpsu93]

Broker received ROFR waiver on first one today. Hope to slip the second one in past the goalie. Will record on rofr.net once the transfer is complete.

Kick save and a beaut.

Marriott exercised ROFR for 2 BR Gold Grande Vista @ $516 all-in, including 2019 usage.

 

[TXTortoise]

After Marriott took the Maui Napili 3BR OF November fixed week at $54K, I thought I’d throw this out as another data point:

- Marriott Napili 3BR, fixed weeks 4-5, 5th floor I believe, listed at $55K each, $110K, buyer took both at around $120K to mitigate risk of ROFR.

For comps on the beach, a Hyatt 2BR OF, floors 5-8, Fixed Week 5 or 6, just sold for $65K. The other is still available.

 

[TXTortoise]

Just a couple of updates, from mulitple broker discussions...

Marriott Maui 2BR OF Floating Old Towers Passed at $25K last week
Marriott Maui 2BR OF Fixed Week 34 Lahaina Tower passed at $34K last summer, after we started seeing Marriott spend more money on ROFR.

The other Hyatt week mentioned above has also been sold. No price info, but given seller's situation, expect it was around $65K.

 

[JIMinNC]

Marriott Maui 2BR OF Floating Passed at $25K last week

Was this original towers or Lahaina/Napili villas?

 

[jmhpsu93]

Marriott Grande Vista 2BR lockoff gold season passed at $500.

 

[Vacation fun]

That’s great !!! Wondering if Marriott is slowing down on doing ROFR like they aggressively had been doing since they spent so much for the purchase of II, Hyatt and Weston just recently.

 

[jmhpsu93]

There's another entry in ROFR.net that Marriott exercised on MGV platinum 2BR annual @ $1975, so they're still awake over there. The gold season week I just bought doesn't hold the same value renting, trading, etc., but it works for our purposes.

 

[jmhpsu93]

Kick save and a beaut.

Marriott exercised ROFR for 2 BR Gold Grande Vista @ $516 all-in, including 2019 usage.

And I'm not sure on how this one was presented to Marriott - I bought it for a dollar on eBay but I had to pay closing costs. The broker may have submitted it as $1.

 

[TXTortoise]

Was this original towers or Lahaina/Napili villas?

Sorry, edited to clarify. The float was the old towers and the fixed was in Lahaina.

 

[csodjd]

Sorry, edited to clarify. The float was the old towers and the fixed was in Lahaina.

That makes sense. The old towers go for less than Napili/Lahaina. They exercised on me on Jan 10 at $29k in the new towers, 2BR OF float.

 

[TXTortoise]

That makes sense. The old towers go for less than Napili/Lahaina. They exercised on me on Jan 10 at $29k in the new towers, 2BR OF float.

I saw that, seemed to work out to right below $4/point..which would have been $29,900. I wonder how close that was.

It's the $54K 3BR Lahaina ROFR at $54K that is skewing the curve. Was it a 3BR that was the kicker for them, as that was just over $5/point, or is there a Maui factor built-in to their decision. Seems like it would be a pure points decision on Marriott's part, though I guess percent of a resort's weeks in the Trust must also play into it. Wish we had a recent Lahaina/Napili 2BR sale in the 30s to see what happened.