How fast is SSR selling?

[floridafam]

Is it moving fast?

I know it is going to be very large and this means there are more units to sell but is it selling at a pace similar to the other resorts?

 

[tjkraz]

Early (unofficial) reports were that sales were brisk. I suspect the promotional discounts were the primary reason. Initially they offered a net cost of $79 per point with no magical beginnings (owners kept all points), and some lucky owners even got a December 2003 Use Year, which meant an additional year's points.

With interest free finanancing until June '04, attractive first-year dues and the 50 year contracts, SSR created quite a stir when it went on the market.

They've been selling Building #2 for at least 2-3 months. With 12 buildings total under construction, they fully intend to be selling SSR for 4-5 years. That would entail selling out a full building every 4-6 months.

 

[InstImpres]

Originally posted by tjkraz
. With 12 buildings total under construction, they fully intend to be selling SSR for 4-5 years. That would entail selling out a full building every 4-6 months.

Any idea what the equals in points (per building that is)?

Sandy

 

[tjkraz]

According to the POS, each building will consist of:

(2) Grand Villas
(20) Dedicated 2B
(24) Lock-Out 2B

With a little help from Caskbill's planner, I get the following number of points per room, per year:

2B: 15170
GV: 32783

Do the math and you get about 733,046 points per building. That's about 8.8 million for the entire resort. If memory serves, OKW sold about 7.5 million points.

 

[InstImpres]

Thanks for the info,

With some more quick math, if ll the points go to new members at 150 pt. min. contracts (which I know is not how it works) but that is almost 4900 new members. I can't imagine it goes that quickly. That' s a lot of tours!

Sandy

 

[vernon]

I would imagine the sales have been reasonably brisk, I know they took on 6 new sales staff in December to deal with the demand.

 

[DerbyVacationClubber]

When we bought DVC July 2003 (BCV) I had a number of post Orlando phone conversations with our Guide. She mentioned that they sell about 50,000 points per week so using the estimated 700,000 points per building you are looking at about 3.75 months to sell each building (assuming they are only selling SSR, not ROFR resales). By my math it will take 45 months to sell all 12 buildings (3 years, 9 months) which will put us in spring 2007 for a sellout.

Where do they go next? Does anyone have an idea of any future locations?

 

[DerbyVacationClubber]

One other calculation...assuming 50,000 points a week and estimating 180 points per contract you are only talking about 280 contracts per week. Taken further, assume only half of people who take tours buy we are talking about 560 tours per week, or 80 per day.

When you break it down this way doesn't it make you feel like just another number?!? (Kidding)