# Cosmopolitan in Vegas bought out by Hyatt and Marathon Asset Management



## dougp26364 (Feb 23, 2008)

Marathon Asset Management and Hyatt Hotels have bought out the Cosmopolitan and infused enough money to save the project. Here's a link to the story on Vegas Today and Tomorrow's website http://www.vegastodayandtomorrow.com/cosmopolitan.htm#jockey

Now one has to wonder if Hyatt will try to get into the Vegas Market by converting some of the Cosmopolitan's space into timeshares.


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## derb (Feb 23, 2008)

Great news for the Jockey Club.  One great benefit to owning JC is that there is never a dull moment.


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## Carmel85 (Feb 23, 2008)

dougp26364 ,


THANK YOU for all that info on Hyatt. I had heard something about Hyatt making a play for a strip deal.  

I would love a fractional,timeshare and full ownership deal to happen for Hyatt on the strip.  GREAT LOCATION.  This would be a perfect fix for Hyatt Vacation Club just a few floors 4-5 total if that.


GO HYATT go Las Vegas



Many thanks and please keep the info coming you are now the office Hyatt las vegas contact so get more news and more gosip,  


Looks like i need to call some buddy at city hall in Vegas about HYATT!!!!


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## dougp26364 (Feb 23, 2008)

Carmel85 said:


> dougp26364 ,
> 
> 
> THANK YOU for all that info on Hyatt. I had heard something about Hyatt making a play for a strip deal.
> ...




Keep in mind that I'm just speculating. Cosmo has been in sales for a couple of years now and I'm not certain how many condo's have been sold. I have no information that indicates Hyatt will turn a portion of this into timeshare but, if they ever wanted to get into the Las Vegas market this would be the way to do it. Hyatt only seems to go for the top locations at a destination and there wouldn't be a better location available that I'm aware of or one that had already started construction with a completion date only 2 years away. For Hyatt this seems like a perfect fit to a new timeshare in Vegas so I feel it's decent speculation on my part even though I lack any evidence at all.


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## Carmel85 (Feb 23, 2008)

dougp26364 said:


> Keep in mind that I'm just speculating. Cosmo has been in sales for a couple of years now and I'm not certain how many condo's have been sold. I have no information that indicates Hyatt will turn a portion of this into timeshare but, if they ever wanted to get into the Las Vegas market this would be the way to do it. Hyatt only seems to go for the top locations at a destination and there wouldn't be a better location available that I'm aware of or one that had already started construction with a completion date only 2 years away. For Hyatt this seems like a perfect fit to a new timeshare in Vegas so I feel it's decent speculation on my part even though I lack any evidence at all.



Yes this is a perfect fit for Hyatt. 

 Hyt is in the process right now in NYC,Northstar and Fl building new and converting buildings 

 Also Hyatt is looking at some hotel room conversions  San Franciso and other city throught out the USA and world to high end timeshare/fractionals.  Hyatt is going more and more to fractionals were the big $$ are at.

Im sure glad I bought yatt now because anything new is just a PURE BONUS.


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## crisndeefromde (Feb 24, 2008)

Hey Doug:

When we attended the owners meeting during our January visit, we were told that the back tower was sold out and the front "beach" tower is 2/3 gone.  I think someone told us that there were two front penthouses left and at great prices..but of course!

We are glad to be owners at the JC and it is only going to make staying here the best with all this construction going on.

So are you just doing land trips now?  I thought I saw you over on cruisecritic with me!!


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## dougp26364 (Feb 24, 2008)

crisndeefromde said:


> Hey Doug:
> 
> When we attended the owners meeting during our January visit, we were told that the back tower was sold out and the front "beach" tower is 2/3 gone.  I think someone told us that there were two front penthouses left and at great prices..but of course!
> 
> ...




For the next couple of years we'll probably be doing just land trips. The wife found another timeshare she wanted and the house we built is now over 9 years old and needing a little preventitive maintenance that's sucking up some of the spendable income.

The less expensive Caribbean cruises don't do much for us. This past summer we painted the house. Right now I'm having our sump pump replaced and having a rather expensive water powered back up sump added (high water table and a sump that always has water in it). The water heater is now 9 years old and the estimates on having it profesionally replaced are around $700 (I don't do these things myself or buy the cheapest model out there). I have a privacy fence that's going to need replacing in the next two years and the roof the original contractor put on the house wasn't the highest quality. Once all of those things have been done I should be back to having a little dispoable income for a few years. Then we'll start looking at some a return to the Med. 

We had thought seriously about cruising Hawaii but have instead decided we'd prefer to go there as a land based trip. Our plans are to use our Hilton or DRI ownership to go there next January. So our next cruise will probably be a return to the Med as we loved that cruise so much and there's so much left to see. Unfortunately, cruising the Med. ain't cheap. Right now the house must come first. I'd rather do preventative maintenance that emergancy maintenance.


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## timeos2 (Feb 25, 2008)

*We need more Hiltons in  LV & Orlando (really?)*



derb said:


> Great news for the Jockey Club.  One great benefit to owning JC is that there is never a dull moment.



I just saw the "encasement" of the JC in January. The new building is less than 2 feet from the JC and towers over it!  It sure wouldn't make me happy if I owned there. 

And ANOTHER Las Vegas Hilton timeshare? Just what they need (not).  Why isn't Hilton looking to other areas besides Orlando & Las Vegas? (I know - there are 4 or 5 others but the majority are in those two areas with monster new ones in both as well).  Hilton seems to be on a one brand crusade to overbuild at least those two areas all on their own.


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## dougp26364 (Feb 25, 2008)

timeos2 said:


> I just saw the "encasement" of the JC in January. The new building is less than 2 feet from the JC and towers over it!  It sure wouldn't make me happy if I owned there.
> 
> And ANOTHER Las Vegas Hilton timeshare? Just what they need (not).  Why isn't Hilton looking to other areas besides Orlando & Las Vegas? (I know - there are 4 or 5 others but the majority are in those two areas with monster new ones in both as well).  Hilton seems to be on a one brand crusade to overbuild at least those two areas all on their own.




You've touched on EXACTLY the reason we don't plan on increasing our Hilton ownership. Vegas, Orlando and Hawaii. Then there's that one little HGVC in Miami Beach. Other than that, it's all affiliates. 

Hilton has the Flamingo, Hilton and LV Strip location and now they want to build out at Lake Las Vegas. Heck, the LV Strip location, which is a huge timeshare all by itself isn't even 50% completed and they announced that 4th LV timeshare. Definately not what we were sold on when we originally bought their product.


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## derb (Feb 25, 2008)

timeos2 said:


> I just saw the "encasement" of the JC in January. The new building is less than 2 feet from the JC and towers over it!  It sure wouldn't make me happy if I owned there.
> 
> John, the Cosmo never gets closer than about 10 feet, something about fire truck access. The encasement, the pedistal, goes up to about the 10th floor of the JC leaving only the 11th floor units with a south view.  For all the rest of the south facing units it will be a wall, maybe with murals.  With a new porte chere (sp), elevators, moved entrances, exclusive keyed direct access to their casino and a new sprinkler system, Cosmo has spent several million dollars for JC improvements.
> Time will tell, but I still think that as long as Hyatt lives up to the concessions Cosmo has made to the JC, it will be great overall for the JC.


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