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Sheraton Flex Retro Proposal

teddyo333

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Location
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Resorts Owned
Vistana:
Westin Kierland (x2)
WKORV - OV (x2)
Desert Oasis (x6)
Vistana Villages - Bella
Vistana Villages - Key West
Sheraton Broadway Plantation (2BR Lockout)
Marriott:
Marriott Grande Ocean
Mt wife and I just attended a Owner update at the Sheraton SVR and was proposed the following:

Trade in (2) VV (Key West (81K) & Bella (67K)) & (1) SBP 2BD Lockoff (Gold Plus) for 215K Flex Points
Retro (4) SDO (148K SO Each) for 592,400 SO
Total Cost Before Credits: $84925
-$13922 (VV Bella 67K Credit)
-$20720 (VV Key West 81K Credit)
-$18320 (SBP 2BD Lockoff (Gold Plus) Credit)
-$4783 Owner Credit
$27110 (New Money and will include 215K Flex Points, 592,400 SO (754,400 Total w/ existing SO) & 5* Elite Status)

This is better than the options that were proposed to us a few months ago but still not good enough for me to bite. I am anxious to see what Marriott will propose in the coming months.
 

CPNY

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WKV
Regal Vista at Massanutten
Mt wife and I just attended a Owner update at the Sheraton SVR and was proposed the following:

Trade in (2) VV (Key West (81K) & Bella (67K)) & (1) SBP 2BD Lockoff (Gold Plus) for 215K Flex Points
Retro (4) SDO (148K SO Each) for 592,400 SO
Total Cost Before Credits: $84925
-$13922 (VV Bella 67K Credit)
-$20720 (VV Key West 81K Credit)
-$18320 (SBP 2BD Lockoff (Gold Plus) Credit)
-$4783 Owner Credit
$27110 (New Money and will include 215K Flex Points, 592,400 SO (754,400 Total w/ existing SO) & 5* Elite Status)

This is better than the options that were proposed to us a few months ago but still not good enough for me to bite. I am anxious to see what Marriott will propose in the coming months.
MVC most likely isn’t offering anything in the next couple of months. What would your new maint fees be?

Do any of your voluntary units have star option enrollment now?
 

teddyo333

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Location
Upstate NY
Resorts Owned
Vistana:
Westin Kierland (x2)
WKORV - OV (x2)
Desert Oasis (x6)
Vistana Villages - Bella
Vistana Villages - Key West
Sheraton Broadway Plantation (2BR Lockout)
Marriott:
Marriott Grande Ocean
MVC most likely isn’t offering anything in the next couple of months. What would your new maint fees be?

Do any of your voluntary units have star option enrollment now?

I currently have 4 properties that have Star Options:

2BD VV Key West (81K SO) -- Would be traded for Flex
2BD VV Bella (67K SO) -- Would be traded for Flex
1BD WKV Platinum (81K SO)
1BD WKORV (81K SO)

I already received 2 emails from the rep we met with today asking us to reconsider the deal. He explained that they normally request $20K to retro each unit but they are allowing us retro (4) Units for $27K. He also explained that we would have a total of 969,400 SO (including the (4) retro-ed SDOs & the 215K Flex Options)
 

CPNY

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WKV
Regal Vista at Massanutten
I currently have 4 properties that have Star Options:

2BD VV Key West (81K SO) -- Would be traded for Flex
2BD VV Bella (67K SO) -- Would be traded for Flex
1BD WKV Platinum (81K SO)
1BD WKORV (81K SO)

I already received 2 emails from the rep we met with today asking us to reconsider the deal. He explained that they normally request $20K to retro each unit but they are allowing us retro (4) Units for $27K. He also explained that we would have a total of 969,400 SO (including the (4) retro-ed SDOs & the 215K Flex Options)
Wow that’s a lot of options! What are you projected annual fees?
 

DannyTS

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I currently have 4 properties that have Star Options:

2BD VV Key West (81K SO) -- Would be traded for Flex
2BD VV Bella (67K SO) -- Would be traded for Flex
1BD WKV Platinum (81K SO)
1BD WKORV (81K SO)

I already received 2 emails from the rep we met with today asking us to reconsider the deal. He explained that they normally request $20K to retro each unit but they are allowing us retro (4) Units for $27K. He also explained that we would have a total of 969,400 SO (including the (4) retro-ed SDOs & the 215K Flex Options)
Wow, that is less than 7k per retro! It appears the cost to retro has come down significantly from 20k to 10K and now 7. Enrollment in MVC seems to be just around the corner!
 

CPNY

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WKV
Regal Vista at Massanutten
Wow, that is less than 7k per retro! It appears the cost to retro has come down significantly from 20k to 10K and now 7. Enrollment in MVC seems to be just around the corner!
This is why we are seeing less resales. They are aggressive in taking these mandatory weeks back. 7K per retro is the best I’ve seen.
 

bizaro86

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Are your sdo all true platinum weeks? If not they don't get 148k star options no matter what the salesperson says.
 

teddyo333

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Location
Upstate NY
Resorts Owned
Vistana:
Westin Kierland (x2)
WKORV - OV (x2)
Desert Oasis (x6)
Vistana Villages - Bella
Vistana Villages - Key West
Sheraton Broadway Plantation (2BR Lockout)
Marriott:
Marriott Grande Ocean
Are your sdo all true platinum weeks? If not they don't get 148k star options no matter what the salesperson says.
You make an excellent point. Which more than likely means that they are moving all the units into the flex trust and giving me flex options. The fact that they keep reach out to us tells me that they are desperate for units for the flex trust. We have been to many updates over the years and have never been contacted as aggressively post presentation. I would definitely suggest waiting to see what Marriott offers in the futurr
 

grgs

TUG Review Crew
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You make an excellent point. Which more than likely means that they are moving all the units into the flex trust and giving me flex options.

Not necessarily--the offer might be that you keep the SDO deeds, but that they will be given SOs. Are they true Plat weeks? Or, 1-52 float weeks? If the latter, they would only retro in at 81,000 SOs each.

If they are true Plat weeks, that getting SOs, and things weren't in flux with Marriott, this would be a pretty good deal.

What would the mf be for the 215,000 SOs?
 

teddyo333

TUG Member
Joined
Jul 17, 2012
Messages
219
Reaction score
133
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253
Location
Upstate NY
Resorts Owned
Vistana:
Westin Kierland (x2)
WKORV - OV (x2)
Desert Oasis (x6)
Vistana Villages - Bella
Vistana Villages - Key West
Sheraton Broadway Plantation (2BR Lockout)
Marriott:
Marriott Grande Ocean
Not necessarily--the offer might be that you keep the SDO deeds, but that they will be given SOs. Are they true Plat weeks? Or, 1-52 float weeks? If the latter, they would only retro in at 81,000 SOs each.

If they are true Plat weeks, that getting SOs, and things weren't in flux with Marriott, this would be a pretty good deal.

What would the mf be for the 215,000 SOs?

The SDOs are not true Plat they are 1-52 float weeks. And they stated, in writing, that we would receive 148,100 SO per unit. This is the reason why I believe they were were actually giving me Flex Points and not SO. I did not get the details of the Maint Fees but the sales rep did state that my maintenance fees would stay the same with the SDOs but would go up with the Flex Options. I think they are changing the rules to get more properties in the Trust. True Plat SDOs may not be as valuable anymore if this is the case. I attended a Marriott Owner Update this morning and will open a separate thread for their option. It was very compelling and I would have been all over it if there was documentation to back it up.
 

DannyTS

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The fact that they keep reach out to us tells me that they are desperate for units for the flex trust.
What this is actually telling me is that they are desperate for your 27k. The rest they can acquire in the open market, the same as you, if they wanted to, not to mention that you always have 2-3% defaults that they can also get for free.
 
Last edited:

CPNY

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Harborside Resort at Atlantis
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WKV
Regal Vista at Massanutten
The SDOs are not true Plat they are 1-52 float weeks. And they stated, in writing, that we would receive 148,100 SO per unit. This is the reason why I believe they were were actually giving me Flex Points and not SO. I did not get the details of the Maint Fees but the sales rep did state that my maintenance fees would stay the same with the SDOs but would go up with the Flex Options. I think they are changing the rules to get more properties in the Trust. True Plat SDOs may not be as valuable anymore if this is the case. I attended a Marriott Owner Update this morning and will open a separate thread for their option. It was very compelling and I would have been all over it if there was documentation to back it up.
Can’t wait to hear the Bountiful Speculation (got that from another threat lol) from the MVC update. Please post the link here where that will be. Or just post in both places so we don’t have to go into the MVC page.
 
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