Construction sched. update for Grand Chateau

[dougp26364]

I just received my 2007 audit report for MGC and thought I'd share some of the "official" construction updates that were contained in the minutes of the most recent BOD meeting.

• 
  September 1, 2008: Sales Center will open on the floors #36 and #37 of Towers 1 and 2

• Constrcution of Towers 3 and 4 will begin in the first quarter of 2009

• In the summer of 2009 renovations will include a new Lobby Bar, Marketplace expansion, more internet kiosks and an Adult Activity Area.

• The first phase of Towers 3 and 4 will open in the first quarter of 2011.

• The next pool and pool bar and grill will open in the summer of 2011.

Of course these things are always subject to change but, it looks like heavy construction is going to continue for a little more than the next 2 years and, if you're wanting a larger pool, you'll have to wait until 2011.

We really love our ownership at MGC and enjoy our time there but, there are a lot of other really nice Marriott resorts to visit and we've been going to Vegas every year, sometimes mult. times per year, since 1998. 2009 will be our first year that we don't have any vacation time planned for Vegas and we may just do the same again in 2010. Marriott has a lot of great resorts worthy of visiting so we may just exchange our 2010 weeks to see something different. I do believe we'll be back at our home resort in 2011 as MGC is a wonderful resort in a great location. Hopefully by 2011, many of the current projects on the strip will be completed and it won't look so much like a major construction zone anymore. Who knows, maybe the casino suit's will come to their sense's and give us back odds that are a little more fare than what it's been these past couple of years.

Much of this information has been posted in bits and pieces over the last few months. This is just the first time I've seen it in an official communitcation from Marriott so I thought I'd post what was put down in writing.

 

[JeffW]

Sales are that good? With the general economic turndown, especially in Las Vegas, it seems like they could have made a case to defer construction on the new towers.

Jeff

 

[derb]

Very informative report, thanks.

 

[dougp26364]

Sales are that good? With the general economic turndown, especially in Las Vegas, it seems like they could have made a case to defer construction on the new towers.

Jeff

If you've got the financing in place, it's not going to get any cheaper to build waiting for a later date. Keep in mind that the housing market in Vegas doesn't equate to the timeshare market in Vegas. Consolidated is still selling two bedroom units at Tahiti Village for $53,000 and Westgate is laying the ground work for it's second tower for the monster of a timeshare it's building. So I'd say sales are still that strong.

 

[CAROLW]

Does the resort still only have the rooftop pool or is there a 2nd pool now?

 

[Dave M]

Still just the rooftop pool, although it isn't big enough to be called a "swimming" pool. The second planned pool is the one that Doug mentioned in his OP.