Westgate Planet Hollywood Towers

[GeNioS]

On[e] can step out and have easy access to the Casino without going outside.

Great....that's all I need.....

On another note....and mods, please place this where it ought to be....but....I was thinking about the Grand Chateau and this Planet Hollywood, etc. Would it possible for a timeshare in a gambling-legal locale to have machines and use the revenue to hedge against maintenance fees?

Along those lines, I've even wondered with the massive amounts of unit-weeks at a resort, why a COA or HOA wouldn't invest in something to hedge against future increases. With all the units in play, and with maintenance fees increasing every year, why not hit everyone with a little extra now and buy a business and use the business profits against future maintenance fees.

I know it could fail and it's risky....(not really on the machines)....anyways....just thinking out loud.

 

[DeniseM]

Good to hear that you were able to rescind!

Here is my advice for a first timeshare purchase.

A couple more things - there are a few people here who make a profit renting their timeshares, but the vast majority of us use our timeshares for quality vacations, and nothing more. Especially in this economy, buying a TS with a profit motive is very dangerous and a novice has very little chance of success. Right now, tons of people are dumping their timeshares on the rental and resale market because of the economy, so it's not a great time to try to rent a timeshare for a profit.

However, if you want to buy a timeshare to use for your own enjoyment, they are going for little or nothing on ebay these days, and I really mean nothing - there are 20 or 30 listed right now for 99¢. BUT - you just got out of the frying pan, so please don't jump right back into the fire!

First of all, TS prices are on a downward spiral, and with maintenance fee bills coming out during the next two months, we are going to see a lot more timeshares on the resale market.

Secondly, it takes awhile to understand timesharing and to really understand what would be the best fit for you. You have the best chance for success, if you put off any purchase for 6 mos., hang around with us, and do your homework.

Good luck!

 

[carl2591]

now that you have that monkey off your back...

how about sending each person that responded to you $2,000.00 as a thank you gift.. that would be much cheaper by a LONG shot over buying a WestGate property in Vegas for rental.. and the MF will get higher and higher over time as well... man you are lucky to find TUG my friend.. so now enjoy.

When it comes to dealing with timeshare people always remember the goldern rule..

HOW CAN YOU TELL WHEN A TIMESHARE SALES PERSON IS LYING???...

THEIR MOUTH IS OPEN...

ps my friend in Myrtle Beach is a timeshare salesman.. so I can say this with confidence.

 

[ricoba]

Thanks for getting back to us. You have done the right thing.

You are the only one who can tell if time sharing is right for you. If you want to enjoy a time share without buying one, there are some great deals posted right here on TUGS rental forum, Redweek.com and My Resort Network

You can find resales here on TUG, as well as the other two sites I just listed as well as on ebay, which has a lot of time share listings

Good Luck & Welcome to TUG!

 

[Bill4728]

Thanks everyone for your help - its a pretty amazing community we have here, as it seems everyone is really looking for everyone's best interest.

*******

BTW, since everyone here seems to be a TS owner, when (or what kind of numbers) do you think make a good TS deal?

There are many different TS systems out there are are priced from $1.00 to >$20,000 ( resale of course) You need to get some info about what you're looking for and how you'd use your TS.

Some people are thrilled with almost any reasonably nice TS and others want the very best ( IMHO the very best are the hotel branded TSs) The nicer the TS the more it will likely cost.

Good Luck and Welcome to TUG.

 

[jdb0822]

$109,900. oh my god.

 

[AwayWeGo]

Buy Timeshares Resale. Save Thousands.

BTW, since everyone here seems to be a TS owner, when (or what kind of numbers) do you think make a good TS deal?

Click here for my (mostly) complete timeshare story.

I don't claim that the timeshare deals we made are the greatest, just that they pass muster with bottom-feeding bargain hunters like us.

We are temperamentally incapable of enjoying timeshare vacationing if it costs us any significant money.

What we like is vacationing in luxury timeshare accommodations for Motel 6 & Super 8 rates.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[dougp26364]

Great....that's all I need.....

On another note....and mods, please place this where it ought to be....but....I was thinking about the Grand Chateau and this Planet Hollywood, etc. Would it possible for a timeshare in a gambling-legal locale to have machines and use the revenue to hedge against maintenance fees?

Along those lines, I've even wondered with the massive amounts of unit-weeks at a resort, why a COA or HOA wouldn't invest in something to hedge against future increases. With all the units in play, and with maintenance fees increasing every year, why not hit everyone with a little extra now and buy a business and use the business profits against future maintenance fees.

I know it could fail and it's risky....(not really on the machines)....anyways....just thinking out loud.

Polo Towers use to have video poker machines in the owners lounge before DRI closed the owners lounge.

Grand Chateau use to be a DRI project but DRI sold the branding out to Marriott. Originally, it was suppose to be a joint venture with a casino operator but that deal fell through.

Greek Isle's on convention center drive does have a small casino that's open to the public.

 

[djs]

I did have to fend off a few phone calls from the salesperson though telling me what a great deal I was passing up.

I bet it was such a "good deal" that they even tried to sweeten it for you a bit.

 

[calgarygary]

I bet it was such a "good deal" that they even tried to sweeten it for you a bit.

Of course if it was sweetened, it was a "one time only offer."

 

[Art4th]

There apparently are folks out there who consider Planet Hollywood Towers to be The No. 1 Timeshare In The Whole USA.

I was waiting for this. I'm surprised it took you so long Alan .

 

[tombo]

Quote from ART4th: "There apparently are folks out there who consider Planet Hollywood Towers to be http://www.tugbbs.com/forums/showthread.php?t=47931&highlight=Planet+Hollywood the number one timeshare in the USA"


Nothing makes it harder to prove you were wrong than deleting all references you made in the past. Reminds me of watergate where the recordings were "accidentally" erased. Now I guess Perry M Nixon will be saying that he never bragged about the great deal he made when he bought a penthouse unit at the No 1 Timeshare in the whole world (retail). We need CSI TUG to recover the deleted posts.

 

[tombo]

This is a pretty good answer to someone who was considering buying retail at Planet Hollywood (and Vegas in general).

http://en.allexperts.com/q/Time-Shares-1843/Westgate-Resorts-Planet-Hollywood.htm

 

[AwayWeGo]

I May Be Slow, But I Get There -- Eventually.

I was waiting for this. I'm surprised it took you so long Alan.

Let me know if I miss any.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[AwayWeGo]

Forensic Clickology.

We need CSI TUG to recover the deleted posts.

It would take a platoon of high priced forensic clickologists a week or more to recover all the vanished entries -- clearly not worth it.

However that may be, that whole episode led to a TUG-BBS policy change.

Now, after 48 hours or so, TUG-BBS entries can no longer be revised, extended, deleted, augmented, edited, changed, lengthened, shortened, or fooled around with.

By me, that's a change for the better -- & we have PerryM to thank for it.

Thanks, Perry.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[timeos2]

Wow - forgot the detail & claims

However that may be, that whole episode led to a TUG-BBS policy change.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

I re-read that thread and wow - just the claims about Wastegate, the sterling operation and "rising" value of the Park City location and how it will be compared to PH now look silly - only a year later. One or two coveted weeks don't make a successful resort - there are 50 others to drag it down. The resort hasn't changed (that I've heard) but the economy killed any chance of profit for the foreseeable future. When PH Tower of Terror finally opens (under Wastegate management by the way) it too is likely to plummet in value almost overnight, if it hasn't happened already (there are documented offers to resell the non-existent operation). In just one small example there are literally 100+ listings for resales at Park City - most at <$8000 and not selling! So much for the appreciation of any Wastegate or other timeshare purchased at anything close to retail price. We already know ROFR doesn't support resale value and Wastegate is seemingly hurting big time in the downturn so they can't offer it in any case.

Even in the best of times PH had all the marks of a bust - now its practically a guarantee. Pity those that bought into the usual Wastegate (and 99% of all other timeshare developers) lies and hype at the retail party. At least another group of much luckier resale buyers (silly enough to buy into any Wastegate operation), exchange guests or cheap renters will get to enjoy another gaudy new Wastegate until it too is run into the ground, as eventually nearly all seem to be.

 

[tombo]

It is great to read predictions from the past and see if they were correct assumptions. Here is one from that thread:

"For those naysayers, I would bet Perry will be the one laughing at some point....all the way to the bank. "

Good thing they didn't bet money because crying all the way to the bank is more like it.

 

[Vacation Dude]

In just one small example there are literally 100+ listings for resales at Park City - most at <$8000 and not selling! So much for the appreciation of any Wastegate or other timeshare purchased at anything close to retail price. We already know ROFR doesn't support resale value and Wastegate is seemingly hurting big time in the downturn so they can't offer it in any case.

It appears that 2 bedroom ski weeks at Westgate Park City start at $20,000 and go up to $30,000 and the only ones that are <$8000 are summer weeks or EOY 1 bedrooms.

 

[oregonguy]

If you are only looking for an investment, a timeshare is a terrible investment - because if you have to sell it, if you purchase it like you did, you are only going to get a fraction of what you paid. You can buy a condo for $50,000 in Vegas right now. I would buy 2 of those, and get a property management company to manage them before I would buy a week in a timeshare. Chances are long term, the price is going to rise, while the timeshare will unlikely ever be worth what you paid for it.

 

[GaryDouglas]

I am curious to hear if Justme_92867's rescind actually succeeds...

 

[dougp26364]

It is great to read predictions from the past and see if they were correct assumptions. Here is one from that thread:

"For those naysayers, I would bet Perry will be the one laughing at some point....all the way to the bank. "

Good thing they didn't bet money because crying all the way to the bank is more like it.

I think that we'll actually have to wait and see how Perry makes out when/if he sells. Personally, I wouldn't have touched this thing with a 10 foot pole but, Perry has made good decisions in the past. I know he hasn't been one to bet against at the end of the day.

While it would be interesting to know how Perry makes out, I doubt that will ever happen. To many have jumped on him for even thinking he'll come out all right on this deal. You have to keep in mind he paid nowhere near what the OP of this thread paid, he purchased a NYE week AND he purchased a 4 bedroom penthouse unit. Sure the market has hit a downturn but, is this a forever thing or just a bump in the road?

I would like to know if his unit will or won't have a balcony. Most of those were cut out of the final plans.

 

[Zac495]

So tell us what happened! Did you rescind? I surely hope so!!!!

 

[pianodinosaur]

I had never visited ebay until I stumbled into TUG. You can get a very good idea what the resale market is like today just by looking up timeshare resales on ebay. However, not all sellers are equal. TUGBBS is filled with horror stories of bad sellers. There are also some very reputable sellers who have been praised by just about everyone who has worked with them. Feel free to ask about the seller on TUGBBS before you make a bid. I have never purchased a TS on ebay. However, I am sure the TUG community will give you excellent advice regarding the seller.

 

[Justme_92867]

Rescission done in time

A bit late, but for the ending to the story, I did manage to rescind in time, even though I was a bit worried since the end of my 5 day rescission was on a Sunday, when everything is closed. So even though I typed out the letter and bought the certified mail on Sunday, the actual post mark was on Monday (6th day). However, even though it took a while, the corporate office surprisingly processed everything without too much of a hassle (even though it was slow and they stiffed me $50 for not returning all their owner kit brochures).

I did however receive many frantic calls early from the salesperson telling me I was missing out on doubling or tripling my money in months - always a bad sign, even though I thought the model room they showed for PH Towers was pretty fantastic.

Thanks again everyone for your timely advice!

 

[dougp26364]

A bit late, but for the ending to the story, I did manage to rescind in time, even though I was a bit worried since the end of my 5 day rescission was on a Sunday, when everything is closed. So even though I typed out the letter and bought the certified mail on Sunday, the actual post mark was on Monday (6th day). However, even though it took a while, the corporate office surprisingly processed everything without too much of a hassle (even though it was slow and they stiffed me $50 for not returning all their owner kit brochures).

I did however receive many frantic calls early from the salesperson telling me I was missing out on doubling or tripling my money in months - always a bad sign, even though I thought the model room they showed for PH Towers was pretty fantastic.

Thanks again everyone for your timely advice!

Glad you were able to get out from under that contract. $109,000 was far to much for a resort you'll be able to exchange into using far less expensive weeks. Not to mention that you'd have had stiff compitition from resort/casino's that really need to get their rooms filled, even if they take a loss to do it, just to get people into the casino.