[2006] Polo Towers owners' group?

[dougp26364]

I stayed at the Polo Tower thru an Exchange during the New Years Holiday.

In the Polo Tower elevators.....at the front desk...and while..waiting for shuttles at the front door.....I kept meeting very un-happy owners. One of the owners couldn't believe how un-careing the staff at the front desk were.

When I tried to use the washing maching two floor above my unit, someone or someones kept opening and leaving the lid on the washing machine open. It took about three hours to get a load of clothes washed.

I was told by the staff that the top floor lounge had been closed for the future developement of office space. Gee Whiz and Darn......I was looking forward to seeing that much bragged about view from the top floor Lounge. I suppose after you've been approached by angry owners for what likely extended for at least a year over something you have no control over, you'd get an indifferent attitude about it. After all, if owners were venting to the front desk or even the resort manager, they were venting to the wrong person. I believe the venting needed to be directed to S. Cloobeck, who's office that temporarily became if I understood things correctly.

Rock

P.S. Sorry... had to laugh at this Polo Tower e-bay ad from last week:

Bidding starts at .....$1.00

Buy IT NOW............$5.00

That was about the time I started a Polo Towers owners forum. Like you, I thought that owners might get together and get rid of DRI as a management company. It wouldn't have brought the lounge back but, we could have gotten rid of a lousy management company that didn't seem to care about owners.

By it now for $5? Now THAT'S an unhappy owner or, it's an owner desperate to get out from under those MF's. I've conversed with more than a few DRI owners that can't afford the new and improved MF's and want out. Some at any price, just to get out from under the MF's. On this one point, DRI seems more than happy to get those owners out and, hopefully is suspect, get owners in that accept the MF's as they are.

The owners lounge was used heavily to sell those units. Then, after it was closed, it was turned into office space. Guess owners aren't #1 in DRI's heart and mind. I've been assured by DRI that the lounge space was costing to much money and will never be turned back into a lounge. I counter with moving the convenience store up there and adding maybe a deli or Pizza Hut express (ala Marriott) but I was told that wasn't going to happen either. It would either remain office space or perhaps be turned into a timeshare unit or units.

Unfortunately, when you read the ownership documents, DRI maintains control/ownership of pretty much every public space at Polo Towers. Owners don't have anything to say about how that space is used.

I personally haven't been treated poorly by DRI staff. I can understand why staff would seem indifferent to owners over this. DRI did not bother to let owners know what was happening with the lounge. They simply closed it and let owners go up there, expecting to enjoy a drink and a great view, only to find the doors locked and the lounge closed. It was one of the WORST examples of timeshare management that I've ever seen and an example of how DRI values and treats it's owners.

 

[ROCKJenkins]

Just observing.....

Just observed a failed listing for $1.00 for a two bdrm (1-52 week) Polo Tower again.

This time they included a FREE WEEK!

Ended with .....zero bid


And it was just yesterday they were going for thousands of dollars.


Makes one wonder if we will be looking back on this era and telling each other how we could have bought this or that timeshare for a song.

Rock

 

[MAZxxx]

I can't grumble, I bought my 2 bed strip view unit for $3500.00 in 2005 and it has been used each year so I've already had my money's worth. I just feel sorry for those people who were suckered in by the smooth sales patter and spent $15000 to $20000 (sometimes more). These sales staff continually refer to these timeshares as investments and they should never be referred to as such.
Personally, I love the timeshare idea. As we both work full time, it allows us to book ahead and get good deals on flights, etc. and we can also budget ahead so it really works for us. I don't think you could say the same for those who simply bought the units for their trade value and like to exchange each year for other resorts.
The maintenance fees are getting silly though and this is where us owners are getting kicked in the teeth. DRI know that we can't sell these units and that we are liable to pay the fees no matter what, so they can basically charge what they like. Its a shame because, as is now happening, you'll get owners giving these units away for nothing and we'll end up with new owners who simply won't value the units as much as if they's paid a few thousand for them.

 

[bingowingo]

i believe that we should start another polo towers group once more as every year they are charging us more and more for the maintainance fees. Actually I am now in Vegas to check up on the special assessment fee that I paid in 2006, how it looks like. I would understand the owner who would like to sell his share for 1 dollar, for me, I rather give it away....if there are any takers...let me know.

 

[cherokee_villager]

I sold my Unit last year because I no longer wanted to fly. Too much airport hassle. Would like to state I have always found the front desk staff to be very, very nice. Never a problem. Goes for the rest of the resort Staff also.

 

[pranas]

I would be interested in such a group also.

 

[wincap]

I also would be interested in this group. I think DRI could use some restraint in their MF.

Winnie

 

[djdistasio]

Owners Forum

Hello all,
I am in the process of purchasing a timeshare at Polo Towers, which, after reading all of these posts, may regret.....however....

I too would be interested in having an Owners Forums site. From this trail, I have seen several posts about one, but haven't been able to locate a site.

If there is not one, I would be happy to post one on my personal server which we could/would be able to run without restriction and free of charge.

I already have a Forum template set-up and would need to do minor tweaks to the design, but I think we could get it up an running almost immediately.

If you are at all interested, please let me know and if someone would be interested in controlling it with me, let me know that as well.

Thanks,
Dave

 

[MAZxxx]

Excuse me for asking but are you buying your unit from the P.T. direct or from someone who's selling their unit? The Polo Towers is a good buy if you get it for a good price but the maintenance fees are high (nearly $1000 for a 2 bed unit). I would be very interested in knowing how much these units are going for nowadays.
That said, they have got one of the best locations on the strip, especially if you've got a strip view unit.

 

[djdistasio]

I am buying resale. As discussed several times in the forum, I am buying through eBay so I am getting a great deal and that isn't necessarily my concern. There are quite a few going on eBay, some of which are not getting any bids at the moment.

I have been to Vegas several times so I know exactly where this is located and actually came back yesterday, but didn't go check the place out, just walked by it.

My main reason for purchasing was to hopefully have decent trading power with the 2-BR lock-out through II. But the main reason in choosing PT is because I love Vegas and the location is perfect.

I am pretty sure I didn't purchase strip view. If I am understanding all my searches correctly, I would be in the back, Tower III. I am purchasing a 2-BR Villa.

Thanks
Dave

 

[dougp26364]

I am buying resale. As discussed several times in the forum, I am buying through eBay so I am getting a great deal and that isn't necessarily my concern. There are quite a few going on eBay, some of which are not getting any bids at the moment.

I have been to Vegas several times so I know exactly where this is located and actually came back yesterday, but didn't go check the place out, just walked by it.

My main reason for purchasing was to hopefully have decent trading power with the 2-BR lock-out through II. But the main reason in choosing PT is because I love Vegas and the location is perfect.

I am pretty sure I didn't purchase strip view. If I am understanding all my searches correctly, I would be in the back, Tower III. I am purchasing a 2-BR Villa.

Thanks
Dave

The Villa's are in tower 3, which is in the back. We own a Suite's unit and a Villa's unit. The Villa's are nicer units IMO, even after the renovations have been done to the Suite's. The Suite's unit we own is a Skyview unit (top floor strip view in tower 1) and was sort of the model the renovations were based on. In fact, the renovations were close enough to the Skyview units that those units were not included in the special assessment.

As far as exchange power, it's been good through the years but, now we have the new Marriott and the new Westgate, both within spitting distance of Polo Towers. This is bound to have a negative impact on the exchange value when you add a couple thousand more units within walking distance. Especially when one of those timeshares is a Marriott and the other has a direct connection to the casino.

If you want to see what you've purchased, I have pictures from some of our trips to Polo Towers. The Suite's photo's are pre-renovation but the Villa's photo's should be reasonably accurate for what they are today. Click on the photo and it should take you direct to that particular Webshots album.

 

[djdistasio]

If what a friend of mine was telling me is accurate, Marriott members always get priority over non-Marriott members for trades to a Marriott (she owns 2 Marriott time-shares), so hopefully that won't be too much of a negative impact.

As for the Westgate, does anyone know how far along they are with construction at this point? According to their site, they are constructing 2 towers to be connected to the PH resort. They state that the connection hasn't been built yet and if I am remembering correctly from what I saw this week, I only saw 1 tower erected so far and it wasn't even completed.

However, both of these resorts look to be superior in my opinion, and may definitely hurt trading ability.

 

[dougp26364]

If what a friend of mine was telling me is accurate, Marriott members always get priority over non-Marriott members for trades to a Marriott (she owns 2 Marriott time-shares), so hopefully that won't be too much of a negative impact.

As for the Westgate, does anyone know how far along they are with construction at this point? According to their site, they are constructing 2 towers to be connected to the PH resort. They state that the connection hasn't been built yet and if I am remembering correctly from what I saw this week, I only saw 1 tower erected so far and it wasn't even completed.

However, both of these resorts look to be superior in my opinion, and may definitely hurt trading ability.

Westgate has only one tower completed so far and, I believe it will begin accepting reservations late in 2009. Marriott is 50% complete and was suppose to have started tower 3 (of 4) recently. Marriott has backed off the idea of completing towers 3 and 4 concurently and has gone back to it's original plan of building them consecutively.

Right now Marriott has a little over 400 units and is adding another 224 with tower 3. Westgate should have somewhere between 800 and 1000 units available when their north tower opens. It's wishful thinking to believe this won't impact Polo Towers exchange power IMHO. Yes Marriott has an internal exchange preference but, I don't believe that will offset the huge number of rooms that will be available in the very near future.

DRI does offer a points based reservation system that takes that issue away but, they'll want to charge you a $2,995 fee or, sell you additional points at developer pricing to join. Plus, it tacks on another $235/year club fee to our MF's. What you get in return would be 14,000 DRI points for your 2 bedroom Villa's unit and I.I. Gold membership paid with your THE Club dues. For us it was worth it since all we plan to do with PT's is exchange (we also own HGVC and Marriott in Vegas). This gives us more flexiblity, internal exchange privledges with DRI and protects our exchange power with those two new resorts being built on our backdoor. It's going to take me another couple of years to recoup my initial investment in joining THE Club but, these last two years it has been worth it to me.

 

[djdistasio]

Westgate has only one tower completed so far and, I believe it will begin accepting reservations late in 2009. Marriott is 50% complete and was suppose to have started tower 3 (of 4) recently. Marriott has backed off the idea of completing towers 3 and 4 concurently and has gone back to it's original plan of building them consecutively.

Right now Marriott has a little over 400 units and is adding another 224 with tower 3. Westgate should have somewhere between 800 and 1000 units available when their north tower opens. It's wishful thinking to believe this won't impact Polo Towers exchange power IMHO. Yes Marriott has an internal exchange preference but, I don't believe that will offset the huge number of rooms that will be available in the very near future.

DRI does offer a points based reservation system that takes that issue away but, they'll want to charge you a $2,995 fee or, sell you additional points at developer pricing to join. Plus, it tacks on another $235/year club fee to our MF's. What you get in return would be 14,000 DRI points for your 2 bedroom Villa's unit and I.I. Gold membership paid with your THE Club dues. For us it was worth it since all we plan to do with PT's is exchange (we also own HGVC and Marriott in Vegas). This gives us more flexiblity, internal exchange privledges with DRI and protects our exchange power with those two new resorts being built on our backdoor. It's going to take me another couple of years to recoup my initial investment in joining THE Club but, these last two years it has been worth it to me.

Thanks. I guess I will just have to see what happens. I have already sent an inquiry about joining DRI, so I am curious to see what they have to say based on your response about costs to join THEClub.

I was just wondering if anyone thought about still wanting to set-up an Owners forum and was interested in helping me do so.

Thanks,
Dave

 

[djdistasio]

Owners Forum

I haven't heard back from anyone. I was wondering if there was still interest in putting together an Owner's Forum.

I have thrown something together and am happy host it if people are still intersted.

Let me know and I will post the address. I can definitely use some ideas for forum topics and wouldn't mind for someone to spread the word since I am new to this site and don't know many of the users.

Let me know if there is still interest.

Thanks,
Dave

 

[dougp26364]

I haven't heard back from anyone. I was wondering if there was still interest in putting together an Owner's Forum.

I have thrown something together and am happy host it if people are still intersted.

Let me know and I will post the address. I can definitely use some ideas for forum topics and wouldn't mind for someone to spread the word since I am new to this site and don't know many of the users.

Let me know if there is still interest.

Thanks,
Dave

You're seeing why I closed the Owner Group Forum down that I had put up. Everyone thinks they're interested but participation tends to be slim. In the end, there were basically 3 of us posting and 1 of those has since sold his ownership. I'd have sold out if DRI hadn't cancelled their Devbuyback program.

 

[bingowingo]

im still interested....count me in.

 

[bingowingo]

this year I really cannot afford to pay my maintainance fees anymore, as it has skyrocketed to 1000 USD ..

should I go for foreclosure now? As my maintainance fees are already paid for this year, and I have tried to sell my shares this yr but to no avail, what other options do I have now?

I cant even pay my mortgage now, let alone this timeshare...

 

[dougp26364]

this year I really cannot afford to pay my maintainance fees anymore, as it has skyrocketed to 1000 USD ..

should I go for foreclosure now? As my maintainance fees are already paid for this year, and I have tried to sell my shares this yr but to no avail, what other options do I have now?

I cant even pay my mortgage now, let alone this timeshare...

I would call Polo Towers or Diamond Resorts and explain that you'll be unable to pay your MF's and see what, if any, options they have available for you. If there are no options and you're unable to transfer the ownership out of your name, then foreclosure may be the only option.

 

[davesdog]

At yesterdays homeowners meeting, there was a man who spoke up about just wanting to give his unit back. The Vice President of something?, said to see him after the meeting. I tried to tell the guy to post it on TUG for free, but he seemed to want to give it to Diamond Resorts. I guess they would be happy to resell it and keep all the $.

He did say it was paid in full though. So that may be why they seemed interested in taking it back. Or after the meeting when the people all left they blew the guy off?

 

[bingowingo]

I would call Polo Towers or Diamond Resorts and explain that you'll be unable to pay your MF's and see what, if any, options they have available for you. If there are no options and you're unable to transfer the ownership out of your name, then foreclosure may be the only option.

already did give them a call and they told me that you have to settle or else.
Last year was a special case, I made a deal with them to stagger my payment for a couple of months without any interest and they did agree to it. This year, I am asking them to give me the same option of staggering my payment as well. But they are hardballing to say that that was a one time deal.

It has been fun while it lasted. My timeshare has been paid since 1996..I think I share the same sentiments with the guy who was in the meeting that I want to give my share already to polo towers because till I die I would still be stuck with this worthless piece of share which I bought before.

 

[bingowingo]

At yesterdays homeowners meeting, there was a man who spoke up about just wanting to give his unit back. The Vice President of something?, said to see him after the meeting. I tried to tell the guy to post it on TUG for free, but he seemed to want to give it to Diamond Resorts. I guess they would be happy to resell it and keep all the $.

He did say it was paid in full though. So that may be why they seemed interested in taking it back. Or after the meeting when the people all left they blew the guy off?

am wondering davesdog what was tackled in the meeting. Are there a lot of unhappy owners who want to relinquish their shares now? Given the fact that diamond resorts doesnt listen to reason, what was tackled yesterday though in that homeowners meeting?

 

[bingowingo]

At yesterdays homeowners meeting, there was a man who spoke up about just wanting to give his unit back. The Vice President of something?, said to see him after the meeting. I tried to tell the guy to post it on TUG for free, but he seemed to want to give it to Diamond Resorts. I guess they would be happy to resell it and keep all the $.

He did say it was paid in full though. So that may be why they seemed interested in taking it back. Or after the meeting when the people all left they blew the guy off?

btw, how can you post an ad here for free at TUG? Many thanks for the response.

 

[davesdog]

am wondering davesdog what was tackled in the meeting. Are there a lot of unhappy owners who want to relinquish their shares now? Given the fact that diamond resorts doesnt listen to reason, what was tackled yesterday though in that homeowners meeting?

Not much was actually accomplished. They have to have these meeting once a year, so that was the main goal. Keep legal. Troy, the Diamond Resorts employee was re-elected, that was what got the crowd the most riled. The board member that seemed to be most for the owners did not. (Tom Thompson).

With all the big pust to get you to join (The Club), that is another story. I wondering who is voting those shares that were converted to points.

The sales team pretty much told me my weeks week is becoming worthless if I didn't convert to points. Of course, you had to spend $12,000 more to be able to convert, since my EOY week was a resale. I told them, all they convinced me to do was get the H*ll rid of the week I already own! I should have told them the "lips are moving" joke!!

I will get into more detail when I get home.

Dave

 

[dougp26364]

With all the big pust to get you to join (The Club), that is another story. I wondering who is voting those shares that were converted to points.

The sales team pretty much told me my weeks week is becoming worthless if I didn't convert to points. Of course, you had to spend $12,000 more to be able to convert, since my EOY week was a resale. I told them, all they convinced me to do was get the H*ll rid of the week I already own! I should have told them the "lips are moving" joke!!

I will get into more detail when I get home.

Dave

THE Club members who retained their deeds still vote their deeds. Those that convert to the trust have the trust manager vote for their ownership.

DRI has a joiner fee of $2,995 to join THE Club, which is the option where you retain your deed but convert your ownership into points. The last owners update we attended was a sales pitch to join one of DRI's trusts. As I understood it, if we bought additional trust points for thousands of dollars our two older deeds could be added to the trust as well. That sounds like what you were presented with.

They can no subtract from the value of your deeded ownership. That's just a sales tactic as I'm sure you're well aware. THE Club's point system does make it easier to exchange and there are more options. For us it made sense as we can still get the exchanges we wanted plus we have extra points left over that can be converted to a credit which helps offset our MF's. However, if you actually use your deeded week to stay at Polo Towers, converting to THE Club won't make any financial sense to you. You'd only be paying to use your ownership the same way you've been using it all along. It only makes sense if you're doing a lot of exchanging with your unit IMHO.

In our case, we also own at the Marriott and HGVC in Vegas. Add to it the fact we've burnt out on Vegas with it's high price clubs and cookie cutter fancy hotels that we're not staying at Polo Towers anymore. Polo Towers had become exchange units for us. I was contemplating getting rid of those units when the opportunity to join THE Club came up.

THE Club works for us on a few levels. We know what the exchange value of our units are. That exchange value doesn't change unless I.I. requires more points to make an exchange. Internal exchanges are included in THE Club membership fee's. I.I. Gold membership is included in THE Club membership fee's. Finally, any points we don't use can be converted to a MF credit to offset our MF's. We own 26,500 points. Two 2 bedroom exchanges are 15,000 points in high season (more for peak season, less for lower seasons). That leaves 11,500 points unused which can be converted to a cruise credit, rental car fee's, AA flight certificates, saved to be used next year, weekend getaways or a maintenance fee credit. The value of each point is ~ 5 cents. 11,500 points converts to $575. Each internal exchange I make saves me the Interval exchange fee of $139. We take short 4 night trips to Branson and now can use only the points required for the number of nights we actually use, not a full weeks exchange being burnt plus exchange fee. In short, in the two years we've been members of THE Club we've made back our joiner fee of $2,995 and then some. Being able to offset the MF's with unused points takes a little of the sting out of those fee's.