We would like your feed back if you have been to The Royal Sands or Haciendas or dined at El Conquistador, Captain’s Cove, La Veranda, Los Murales after October 27th, 2012 while the optional all-inclusive program was in effect. Even if you didn’t participate in the all-inclusive, did you find it difficult sharing the resort restaurants and bars with the all-inclusive guests? Was the food quality the same? If you did participate, did you find it was worth it?
The Royal Mayan will be sold. Tentative plans are to look for qualified bidders through April 1, 2013 when the submission of bids is due. Bids will be enclosed in a sealed envelope and opened on June 19, 2013. The bids will be analyzed through June 27th with the selection scheduled for June 28, 2013. These dates are subject to change depending on the interest of a company or investors wanting to purchase The Royal Mayan. If no bids are acceptable, The Royal Mayan will continue to be up for sale until a suitable buyer can be found.
The Owner’s Manual is looking for investors to submit a bid which would include owners who would like to repatriate their residual amount of a sale that would be due to them (we are estimating your proportionate share will be approximately 30% – 35% of your original residual value) and continue using The Royal Mayan, retaining your full residual amount for the next four and a half years until The Royal Caribbean Trust expires. At this time, if the new owner (investment group) feel they may achieve a better price if all three resorts, The Royal Mayan, Caribbean, and Islander were sold together, you will have the option to sell your villa at the new appraised price at the end of The Royal Caribbean Trust or continue on until the end of The Royal Islander Trust in 2023.
Please respond with your comments if you think this is a viable path to take, and if you are a Royal Mayan owner, would you be interested in repatriating your residual value for an additional 4 1/2years? We will be sending a survey to The Royal Mayan subscribers that we have in our database, but we probably only have half of the total Royal Mayan owner’s list. Please send us the name and address of other Royal Mayan owners so we can send them a survey.
The Developers of The Royal Mayan conducted a professional survey of Royal Mayan members on whether an extension of the Royal Mayan Trust would be justified. It appears that the survey, even though only less than 6% responded came back that due to economic conditions, health, and age of the members that the majority of owners want to stop paying maintenance fees and sell The Royal Mayan. We took our own survey and came up with 10% of owners would consider renewing for an additional thirty years and that number increased to 28% if it were only for fifteen years.
To this extent it appears that The Royal Mayan is headed in the direction of being sold. An appraisal of The Royal Mayan will more than likely take place in 2012, and an earnest effort to find a company who would like to purchase The Royal Mayan will in all likelihood be made. It is of The Owner’s Manual opinion that the sale price will be in the Forty Million Dollar range and after taxes, commissions, employee compensation for the number of years of service provided, owners should not expect more than 40 cents on the dollar of what they initially invested (40% of residual value).
We are looking for an alternative way of preserving our second home for those who want to continue to use it and to accommodate those who want to sell now. We would like your input as to other possible scenarios on how we as vested owners could accomplish this. Please send us your comment.