About Andreas Rossler Expertise I'm able to answer general questions on timeshares and specifically in regard to purchasing, renting or exchanging timeshares on the secondary or resale market and through the Internet. I have expert knowledge in sales, mechanics (how and why timeshares work), and timeshare exchanges.
I am also well versed in timeshare financing and may be able to guide you to better financing or refinancing options for your timeshare purchase.
If you ask questions of a legal nature, or those requiring tax advice - I may not be able to answer fully.
Experience I have 10 years of industry experience in sales, management and processing. I'm currently CEO of Timeshare Village, a resource for timeshare owners and industry professionals.
Organizations Mensa - Life Member
Publications I have been interviewed by Channel 7 News in the Bay Area of California regarding my opinions on Worldmark, the Club timeshares as developed by Trendwest-Wyndham Resorts.
Education/Credentials MBA - Master's in Business Administration
BS - Mathematics
BA - Economics
California Real Estate Broker
Time-Shares - Westgate Resorts at Planet Hollywood Towers
Expert: Andreas Rossler - 11/3/2007
Question I am looking into buying a one bedroom grand suite timeshare at Westgate Resorts PHT in Las Vegas for one week/year. The suite is very attractive with king bed, jacuzzi tub, full kitchen, appliances, washer/dryer and all kinds of amenities and of course it's attached to the Planet Hollywood Hotel & Casino. It's a floating red unit and comes with a membership to Interval International for vacation exchanges at 84.00/year. I love Las Vegas and thought this would be a good investment for future trips there since the rates on the nicer hotels in that area are constantly on the rise. Can you give me some advice in this area in terms of reliability of the Westgate Resort company and what a good price would be for the unit? I'm more interested in these two areas than advice on the loan or payments. They were quoting around 30K with 549.00 annual maintenance fee and 84 for Interval International membership. Is this reasonable for this area/project?
Answer Let me give you some pointers. First, do not buy retail - buy a resale. Timeshare Village (sales@timesharevillage.com) can help you find a resale (you'll pay far less than half of what they are charging - I would say, somewhere between $2,000 to $8,000 for the week). Even if you don't use our services - find a reputable broker and buy a resale.
If you own a timeshare that is part of the Interval system, you can opt to become a member - I believe the price you are quoting is correct. Membership is $84 per year - I myself am a member.
$549 sounds about right for maintenance fees (make sure you understand that maintenance fees do go up, find out what the cap is each year and make sure you are comfortable with that).
You're buying a floating week. What this means is that you can chose to go any week of the year - ASSUMING that week is available. What they will do is sell 51 weeks out of 52 in that particular unit. Now, every owner must call every year and book a week - it is first come, first serve. Be prepared to call as far in advance as possible if you want to choose your week. Let's say their rule is that you can book up to one year in advance, and their reservation office opens at 8:00 AM. If you want to go on December 1, 2008 - I would call them December 1, 2007 at 7:59 AM. Trust me on this - roughly 30 of the 51 owners in that unit will be doing exactly that - so availability is an issue.
As for Interval - same thing applies - if you really want to trade your week, you need to book a year in advance and you need to book a popular week - otherwise you'll have a tough time trading.
In my opinion - I would not buy a timeshare week in Vegas unless I was absolutely sure of the following:
1. I will go to my resort in Vegas almost every year (I was not going to trade).
2. I am comfortable staying in Vegas for a full week.
3. I am comfortable booking my week at least a year in advance.
4. I was comfortable with paying the maintenance fees every year, was comfortable with the fact that they will most likely go up every year, and was comfortable with the cap on maintenance each year.
5. I was in it for the long haul - that I will use it for at least the next 10 years.
As for the company - I have heard both good and bad (most of the bad coming from going through a sales presentation or dealing with the company on the sales end of things). I would guess that the management for the Planet Hollywood resort is pretty good - so I would not worry to much about that - more importantly is to ask the company for the governing documents and the public report - go through both with a fine tooth comb and make sure you are absolutely comfortable with rules and regulations.
If you would like to talk about timesharing - drop us an email, we would be happy to consult: sales@timesharevillage.com
