Westgate Planet Hollywood Towers

[FlyerBobcat]

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....

Congrats on getting that done! BTW, did the salesperson explain in detail how you were "missing out on doubling or tripling my money in months"?

Months..... imagine that. We must all be wrong!

 

[timeos2]

The leaning Planet Hollywood Tower of Terror gets its due

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!

A bargain at $50! Think of it - your option was to be saddled with what will most likely be one of the greatest busts in timeshare history operated by the worst organization in all of timeshare. Having those books will serve to remind you that the only truly happy owner of a Wastegate resort is the ex-owner of a Wastegate resort. You came dangerously close to being an actual owner and a lifetime of misery dealing with them.

Congratulations are in order.

 

[TheTimeTraveler]

.........and the poor salesman lost his $50,000 commission!

 

[calgarygary]

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!

I must say that you had me wondering early on in the thread if you would come around. There are many on here that found TUG too late after buying from the developer. The lucky ones found TUG in time and either changed their minds about a future purchase or rescinded. Early in this thread, you were sounding like the smallest minority of all, those that found TUG in time but still went ahead with a developer purchase. Glad you didn't join that group!

Sometimes I wonder if Bill Rogers wished that his business model included a % of the millions upon millions that TUG has saved people over the years. Is there another site like this where for a few dollars to join, or even no dollars for the guests, so much money can be saved? I wouldn't be surprised if it is now in the hundreds of millions.

 

[oregonguy]

Sometimes I wonder if Bill Rogers wished that his business model included a % of the millions upon millions that TUG has saved people over the years. Is there another site like this where for a few dollars to join, or even no dollars for the guests, so much money can be saved? I wouldn't be surprised if it is now in the hundreds of millions.

Yeah, those timeshare salesmen probably rank TUG pretty high on the list of things they hate.

 

[zazz]

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.

Congrats. I am sure the salesman had visions of a pretty sweet X-Mas based on your commission. When he got notification that you were rescinding, all those visions faded away in a flood of tears. But that's not your problem. He was hoping to make a holiday turkey out of you. Glad you turned it around on him and saved yourself some bucks.

That $50 they charged you is a small price to pay to buy yourself some time to learn more about how this timeshare thing works.

 

[dougp26364]

.........and the poor salesman lost his $50,000 commission!

I don't think TS Salesmen get a 50% commission, especially with Westgate handing out the paychecks. It's probably more in line with 2% to 10%. Still, that's a chunk of income to lose all with one phone call.

 

[PerryM]

Stuck in yesterday....

As an investor I look at current situations, past history and make forecasts – it’s an art. My accuracy is just 66% in the stock market. I have winners and losers but overall my portfolio does just fine.

For those of you stuck in yesterday, hindsight is 20/20 – whoopee.

I’ve been forecasting the total collapse of the timeshare industry for a while now (timeshare bubble bursting) and here is my current recommendation:

“Don’t buy a timeshare now – neither developer nor resale”.

The timeshares we now own we use, rent, and exchange – I don’t flip timeshares – they are not an investment.

We have given our ph penthouse week 52 that sleeps 14 (and faces the strip) to our son for his use – hope he gets 40 years of enjoyment out of it.

Beyond that none of you know what I paid and no one has even gotten close to under guessing what I paid (you guys are way way overpriced) – poor performance from folks who then make wild assumptions from their bad guess. I locked in the most desirable unit in a 2,500 unit resort with the most desirable week, New Year’s week, with the highest penthouse facing the strip – all for peanuts since I am good a negotiating with sharks. (the 4 bedroom villas at the back of the resort are what’s being sold for the quoted price – a view of the airport)

So I join the rest of you in poo-pooing the ownership of timeshares – don’t buy them now.

Wait until you can buy ANY timeshare for $1 on eBay (with the exception of Disney) and we can all pat ourselves on the back as to how smart we are.

Best of wishes for a profitable 2009

 

[PerryM]

I really wish you the best - really...

Note:
What started out as a happy event for us, the purchase of a timeshare for our son has become fodder here for revenge against the developer – Westgate.

I don’t know why sharing our purchase with folks here has turned into a non-stop bashing of my son’s gift but for some reason you guys can’t let it go.

I highly suggest that Do It Yourself therapy by bashing folks on chat rooms is not a great way to address your problems. If you hate Westgate so much call and pester them if it makes you feel better. I’m just a dad who bought a present for our son.

I play by the rules and the rules back then allowed me to remove my comments that so upset some of you. One year later even those removed remarks have you fuming mad – I am not qualified to offer you any suggestions – I did what I thought would be best for some of you – removed my comments.

I really don’t understand this but I sure wish some of you a “happier tomorrow”.

 

[AwayWeGo]

It Didn't Start With Planet Hollywood Towers.

What started out as a happy event for us, the purchase of a timeshare for our son has become fodder here for revenge against the developer – Westgate.

Judging by what I read right here on TUG-BBS, people's views of the WestGate timeshare company had already gone way, way south long before Planet Hollywood Towers got added to the mix.

In any case, if you like it & your family likes it, then mox nix what anybody else on TUG-BBS thinks.

Don't let'm rain on your parade.

Enjoy !

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

 

[PerryM]

Maybe this will help...

In the spirit of the season why don't you guys get together and draw up an apology that I will sign - sight unseen.

I've ignored this for over a year now and the irrational hatred just seems to get more intense.

So draw up an apology and I'll sign it right here. I'm going on two vacations starting this Saturday and back next year. So it would be helpful for me if you could draw up the apology before 12/20/08 for me to sign.

Happy holidays and I hope this makes some of you feel a lot better.

Perry

 

[bnoble]

when (or what kind of numbers) do you think make a good TS deal?

Everyone does this differently, but here's my take. I compute the "annual carrying costs" as 8% of the purchase price (including all closing costs) for lost opportunity and loss amortization, plus annual maintenance fees, taxes, etc. That has to be a fair margin under market rental rates---what I can get from owners at that resort, or the developer themselves. It has to have a margin of safety because owning carries risk that renting does not.

This assumes I'm going to be holding the week for a long time, and assumes zero value at disposition time. For weeks you only plan to hold a little while, it gets tricky to figure out what it will be worth when you try to sell it.

 

[BocaBum99]

In the spirit of the season why don't you guys get together and draw up an apology that I will sign - sight unseen.

I've ignored this for over a year now and the irrational hatred just seems to get more intense.

So draw up an apology and I'll sign it right here. I'm going on two vacations starting this Saturday and back next year. So it would be helpful for me if you could draw up the apology before 12/20/08 for me to sign.

Happy holidays and I hope this makes some of you feel a lot better.

Perry

Perry,

Since you only think your timeshare is worth $1 on eBay. I'll offer you double your money and offer $2. You will save yourself $70 in eBay fees and you can go out and buy the Planet Hollywood penthouse for the whole year with those savings and have spare change for the slots.

 

[AwayWeGo]

Apology.

In the spirit of the season why don't you guys get together and draw up an apology that I will sign - sight unseen.

Dear Perry,

I'm sorry the TUG-BBS folks got your goat.

I think most of the sharp comments were intended as semi-pointed BBS give-&-take rather than out & out hatred, but that's mox nix if they made you feel bad. Nobody should try to hurt other people's feeling's intentionally. Plus, that's against TUB-BBS rules anyhow.

I don't think I contributed much to the piling on myself, other than by linking various times to that episode about The No. 1 Timeshare In The Whole USA featuring your multiple deletions of your own entries -- so many & so late that they inspired a policy change at TUG-BBS limiting the time for edits to 48 hours or so.

So in turning over a new leaf, I will quit linking to that episode -- in the spirit of letting bygones be bygones, even though those links were meant all in fun. (Well, mostly in fun. Nobody's perfect.)

Maybe everybody can start over fresh in 2009.

Here's hoping you have a fabulous vacation & return rested & refreshed & revitalized after having a wonderful time.

Your TUG-BBS friend,

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

 

[PerryM]

Only once please...

Perry,

Since you only think your timeshare is worth $1 on eBay. I'll offer you double your money and offer $2. You will save yourself $70 in eBay fees and you can go out and buy the Planet Hollywood penthouse for the whole year with those savings and have spare change for the slots.

I understand that my $1 prediction impacts you resellers - I apologize.


Hopefully that counts as apology #1 but I doubt that this ends it.

Guys if you want me to apologize I don't have the time to do it one post at a time - let me know when the list is finished - I'm only apologizing once!

So this was a freebee for a reseller who is probably hurting right now - a Christmas gift from my heart; I feel your pain.

 

[TUGBrian]

I think this thread has run its course, enough of the bickering.

 

[dougp26364]

I think this thread has run its course, enough of the bickering.

I agree but would take it one step further. Perry's purchase was around a year ago. People need to let it go. He bought a specific week and a specific unit in a brand new resort for what he felt was a good price. I've done the same twice. While it goes against standard TUG advice, for some it's the right way to purchase.

If you want a strip view at this resort for NYE and you want the penthouse unit, you're either going to wait a very long time for it to come up resale or you're going to buy it from the developer. Perry negotiated the best price and felt it was good enough for him to buy. No harm IMO. Personally, I wouldn't have purchased even at the price he negotiated.

I've made two developer purchases I don't regret when I consider the thought process at the time of purchase. One is a top floor Skyview unit at Polo Towers and the other is an Ocean Front unit at Marriott's Ocean Pointe.

Now, I have since come to regret owning with DRI but, at the time owning that top floor strip view at the only resort offering such a view was a good idea to us. If DRI hadn't turned into such a dog of a management company IMHO, I'd still be very happy with that unit.

At this point I could have purchased our Marriott unit for less than I paid Marriott but, we wouldn't have had the usage out of the unit we've enjoyed since 2001. To me the money was worth it.

As I see it, Perry's only gaf was to post a thread declaring Westgate's Planet Hollywood Towers the #1 timeshare resort. THAT was bound to strike a cord with many on these forums as well as stir the pot. The #1 timeshare is going to be different for everyone on these forums. Since I haven't been to all of them, I can only call #1 from my personal experience and, for us, #1 would be Ocean Pointe........at least for today. Since timeshare is a dynamic industry, these things are bound to change over time.

As for timeshare collapsing, again a rather strong statement and one that's bound to elicite strong responce. Again, personally I don't believe the industry is set to implode. Reorganize drastically yes. Lose a few of the weaker timeshares yes. Change considerably yes. Completely implode and upon itself no. But I do agree that buying now could be taking a pretty big chance. Sort of like buying stock a few years ago, anyone could pick a winner. Now you really need to know what you're looking at in order to do well. Times like these only serve to shake out the weak while the strong will remain.

 

[BocaBum99]

Newton's third law of motion states: "To every action there is an equal and opposite reaction."

This is true for physics, politics, relationships, message board posting and everything else you may encounter in life.

 

[TUGBrian]

guess my microphone aint on.