Is HGVC trying to exit Trump Vegas?

[brick2112]

We went to a sales presentation in the DC city club today and they were trying to convince us to sell our share in Trump in Vegas. Is there a strategy for HGVC to get out of the Trump property?

 

[RX8]

Haven't heard anything about that. More than likely it was their "strategy" to try and sell you a timeshare at developer prices

 

[SmithOp]

We get these sales BS questions here all the time, never ceases to amaze what they will say to close a sale.

Would you make a $100 million investment, then dump it 5 years later?

https://www.reviewjournal.com/business/hilton-grand-vacations-makes-trump-purchase/

By Hubble SmithLAS VEGAS REVIEW-JOURNAL
September 6, 2012 - 12:19 pm


Trump International has sold about 300 condo-hotel units in its Las Vegas tower to Hilton Grand Vacations time share division, the New York-based real estate company said Thursday.
The transaction is valued at about $100 million. Trump International sales manager Matt Brimhall said he’s been selling units for $240,000 to $350,000, depending on what floor they’re on.


Sent from my iPad using Tapatalk

 

[DazedandConfused]

HGVC owns about 25% of the units in Trump Las Vegas

 

[dougp26364]

We haven't taken a HGVC "owners update" in several years. Originally we owned at the resort on Karen Ave. The pitch was to "sell back" out EOY Karen Ave. and buy into the LV Blv location. We preferred the LV Blv location and had decided we wanted to own every year, plus, we preferred the Blv resort. Of course at that time there were plans for 4 Towers and more amenities.
Now that we own at the LV Blv location, they keep trying to "upgrade" us by offering us our full sales price back on the original unit. The last time it was sort of funny because the salesman had no idea that we purchased so long ago and the price difference was more than a couple of thousand dollars.

At any rate, it's a perfectly normal sales tactic. If the salesman gets the feeling your a Trump hater, he/she probably thinks it's like shooting fish in a barrel to get you to trade up.

 

[Beachspace]

Haven't heard anything about that. More than likely it was their "strategy" to try and sell you a timeshare at developer prices

I know someone that works for HGVC in Orlando corporate and they are having a very hard time selling the 3-5 night presentation package to Trump Las Vegas. The majority of people on the phone either pause and they say "anything else" or they get the "absolutely not/no chance". Rarely do they get a booking and end up selling them some place else (Hawaii, Orlando, NYC, etc.)

 

[Cyberc]

I know someone that works for HGVC in Orlando corporate and they are having a very hard time selling the 3-5 night presentation package to Trump Las Vegas. The majority of people on the phone either pause and they say "anything else" or they get the "absolutely not/no chance". Rarely do they get a booking and end up selling them some place else (Hawaii, Orlando, NYC, etc.)

Is that because of the name and owner of the building ? I would be surprised if that is actually stigmatizing the building.

The units are great (maybe not as much as Elara) and you go a lot of room to wiggle your ears. The locations is pretty close to the strip (again not as close as Elara)

The MF if however is much higher than other LV properties.

To me nothing beats Elara, and I own at HGVC on the strip.

 

[Beachspace]

Is that because of the name and owner of the building ? I would be surprised if that is actually stigmatizing the building.

Yes, that is what I was saying.

Anything with His name is a big turn off for a lot of people.

I also sell Real Estate in Miami and have clients who won't even go in Trump SunnyIsles, Trump Hollywood, Trump 1/2/3 Sunny Isles, etc and they aren't even part of his portfolio, just straight licensing deals.

 

[VegasBella]

Is that because of the name and owner of the building ? I would be surprised if that is actually stigmatizing the building.

Why would that surprise you?

The Trump building has been the target of multiple local protests purely due to the name.




Sent from my iPhone using Tapatalk

 

[Beachspace]

Why would that surprise you?

The Trump building has been the target of multiple local protests purely due to the name.




Sent from my iPhone using Tapatalk

There was protests outside Trump Hollywood after the first failed attempt at a Muslim Ban and that's a condo building.....Lots of protests outside the D.C hotel and NYC towers and here at Doral there have been some as well.

Owners of Trump Toronto settled with his company a large Sum to drop the name..its no longer a Trump Hotel anymore and the first of his Hotel Collection to drop off. Vancouver is getting pressured as well and the Panama owners have been suing Eric/Ivanka for their own issues with the building.

 

[1Kflyerguy]

I am sure the name has impacted the sales at Trump in Vegas, but i doubt HGVC can or would try to back out of the development. Chances are they were just trying to get the OP to upgrade, and offered to take Trump back in trade, like they do with many deeds as way to reduce the out of pocket cost of the upgrade.

I think any sort of controversy can have a negative impact on sales. Obviously the Black Fish movie really hurt Sea World, and would not be surprised if they has had some impact on the desirably the HGVC Sea World, though obviously there is lots to do in Orlando regardless of Sea World's status .

 

[onenotesamba]

When I was in Vegas shortly after the election, there was a big streaming march of people walking down the strip protesting his election, on their way to the Trump tower to have a rally.

I know lots of people who would likely refuse to stay at a property branded with his name, but whatever your politics, I imagine that the prospect of a loud protest right outside of your accommodations wouldn't make for a very fun or relaxing vacation.