Newport coast Villa's
My most recent developer pricing information is from last June......this from direct sales...
Annual Gold Units currently at $28.5K are going to $31.9K
Annual Platinum Units currently at $31.5K are going to $36.5K
Price increases to be effective June 15, 2006.
I believe, but do not know, that Platinum Plus was ~42K last year.
I'll check again when we go this summer. Figure about .5-.65x for resale, with Platinum units commanding the higher end. We've seen ROFR at the ~14K level for Platinum, but it isn't consistent. No ROFR info on Gold AFAIK. All pricing is for EY. I don't believe Marriott is selling EOY there anymore, but could be wrong.
Pat
William M.
We just did an "equity upgrade" using our white Desert Springs Villas for a gold Newport Coast Villas week two weeks ago. The price I was quoted for a Gold week was $29,400. We did an Owner Preview there back in October ($199 for 3 nights with a $100 gift cert to Fashion Island) and the prices quoted then were $32,500 for a Platinum week and $29,100 for a Gold week.
NCV trades within II as a red week for all 52 weeks. Red is an II season designator. By red, I'm assuming you mean Platinum, which is Marriott's name for their high season.
Platinum weeks can be exchanged for 125,000 every year and Gold weeks can be exchanged for 100,000 points every year.
Don't forget that if your friends buy direct from Marriott, you get a 40,000 point referral bonus.
Tom F.
Last edited by tom1939 on Mar 02, 2007 04:39 PM
Looks like slow sales changed their minds on a substantial price hike. Using your <October 2006> numbers, Gold is up 7,600 and Platinum is up 8,000 from 2004.
I do find it interesting that they changed the surrender points on Platinum from 110,000 to 125,000. Might be some older owners a little irritated about that if it only applies to newer purchases.
Readers should be aware that NCV is a pretty easy trade, except for summer season, using one bedroom Marriott's (2BR's locked off), through II. Even a white MDS usually can pull it. Until construction completes, even summer should trade into fairly well, though not with 1BR units IME.
Pat
William M.
Last edited by william471 on Mar 02, 2007 06:07 PM
There were few issues for 2007 summer weeks IME. I didn't even book our July week at the 12 month mark. I've heard similar from other owners. 2006 and 2005 were another matter, with 2006 being the toughest. I couldn't get anything until the end of August. It was explained to me that construction had delays and this resulted in a dearth of excess units combined with heavy demand. A lot of new buildings have opened up since then and they're working on the upper section now, loosening up supply some.
There are other strategies to get into heavy demand periods; one can read TUG to find out about them.
Pat
William M.
peggem wrote:What is a red week at the Villa's sell for now?? We are owners, but have some friends that think they might want to buy a week.
We have a friend who purchased a week from Marriott at the end of last year for $32,000, for the platinum (summer) season. The retail price has probably gone up slightly since then.
Chuck
Charles G.
william471 wrote:FYIMy most recent developer pricing information is from last June......this from direct sales...Annual Gold Units currently at $28.5K are going to $31.9K
Annual Platinum Units currently at $31.5K are going to $36.5K
Price increases to be effective June 15, 2006.
I believe, but do not know, that Platinum Plus was ~42K last year.
I'll check again when we go this summer. Figure about .5-.65x for resale, with Platinum units commanding the higher end. We've seen ROFR at the ~14K level for Platinum, but it isn't consistent. No ROFR info on Gold AFAIK. All pricing is for EY. I don't believe Marriott is selling EOY there anymore, but could be wrong.
Pat
Also, if we are talking about Newport Coast Villa's, Marriott has recently changed their marketing strategy by switching from from an every other year trade for points option to an every year trade for points option. That puts Newport Coast Villas among just a very few properties in the Marriott system where an owner can trade their week for points each and every year. I understand that some people are mainly buying weeks there to accumulate and use the points.
Chuck
Charles G.
tom1939 wrote:We just did an "equity upgrade" using our white Desert Springs Villas for a gold Newport Coast Villas week two weeks ago. The price I was quoted for a Gold week was $29,400. We did an Owner Preview there back in October ($199 for 3 nights with a $100 gift cert to Fashion Island) and the prices quoted then were $32,500 for a Platinum week and $29,100 for a Gold week.NCV trades within II as a red week for all 52 weeks. Red is an II season designator. By red, I'm assuming you mean Platinum, which is Marriott's name for their high season.
Platinum weeks can be exchanged for 125,000 every year and Gold weeks can be exchanged for 100,000 points every year.
Don't forget that if your friends buy direct from Marriott, you get a 40,000 point referral bonus.
We have two platinum weeks at Newport that trade for 110,000 points. It is my understanding that they have a couple fixed weeks that are holiday weeks that trade for 125,000 points. I believe your correct about the gold weeks trading at 100.000. The big thing is that now you can trade units for points every single year. So Newport is a point factory for people that are point junkies.
Chuck
Charles G.
joolvera wrote:If you own platinium, good luck in trying to get into the summer months.We try to make our reservations one year in advance. We call at 6:00 AM and by 6:05 everything is booked! Extremely frustrating.
Are you having trouble reserving a week in your own season? That's concerning. I would be interested to know when you finally able to book your week. We have two weeks and we were able to book 13 months in advance without trouble. which, based on what you say is a apparantly a big advantage. If we ever just want to book just one of the weeks, it sounds like we are in for trouble.
Chuck
Charles G.
chuckg21 wrote:You can still book both weeks at 13 months and then change the date on one week at a later time.We have two weeks and we were able to book 13 months in advance without trouble. which, based on what you say is a apparently a big advantage. If we ever just want to book just one of the weeks, it sounds like we are in for trouble.Chuck
Tom
Tom F.
Last edited by tom1939 on Mar 22, 2007 09:16 AM
joolvera wrote:If you want to spend an extra $10,000 go through the resort and pay about $22-26,000. If you buy through the resale market, you will pay significantly less. $12-18,000.
WHAT ARE THE DISADVANTAGES OF BUYING THROUGH A RESALE MARKET VERSUS MARRIOTT? I WENT THROUGH A PRESENTATION AT THE NEW PORT VILLAS AND ONE OF THE SALES PEOPLE TOLD ME THAT I COULD NEVER ACCRUE MARRIOTT POINTS IF I BUY THROUGH A PRIVIATE PARTY? ARE THERE ANY OTHER DIFFERENCES YOU KNOW OF BEFORE I BUY THROUGH A RESALE? THANK YOU
Ricardo S.
Currently, loss of points surrender rights is the only significant perceived negative of buying resale. However, considering Marriott's recent devaluation of their MRP system and expected further devaluations, I see this as minimally negative.
That said, there are other things brewing on the horizon which might be more interesting, giving the current developer marketplace. Remember, Marriott controls the reservation system and their ability to change it at any time without notice is written into most GD's (governing documents) at their resorts.
For example, the 13 month rule could go away for resale buyers. Inventory levels could reflect "special" inventory for developer owners. If they convert to points and/or an "internal" system, developer owners could receive more "trade power". The list goes on and on. None of that is happening now and it is entirely informed speculation by this writer.
We own developer intervals and I would be just as angry as resale owners if Marriott took such steps, as such would devalue the product IMO, and perception is everything.
Pat
William M.
