Las Vegas Marriott Grand Chateau [Master Thread]
 

I see there is a new Marriott in Vegas. Does anyone know what award level this will be? It does not display on the web site what category. However, it sounds very interesting.

I believe that Mariott will sale it as timeshare property. Check it out at www.vacationclub.com

Las Vegas Marriott Grand Chateau
 

Numerous TUG'ers have bought this property in pre-construction and have early reservations booked. We'll know more in September and October about quality and value. Interval prices are rising monthly and the 3BR LO's are getting in short supply, according to what I've read.

BTW, the TUG BBS has a new URL....

http://www.tugbbs.com/forums/index.php?

Is doing a pre-con purchase on a project like this a good investment?

Only in that you can recoup more of your capital costs than someone who purchases later in the build-out process, assuming both of you buy developer.

There are some MGC intervals which have nearly doubled in price since sales first opened. They will continue to trend higher until all intervals are sold.

The property we own at, NCV (Newport Beach), saw price increases of 15-20% for developer intervals last year, and this resort is 5 years into occupancy but is still building out until 2009. At that point, if current trends continue, we can sell our intervals resale (which is usually about half of current developer) and break roughly even on cap costs. MF's (maintenance fees) and property taxes still must be accounted for, but renting intervals (which usually rent for 2-3x MF's at NCV) can easily offset that, and still leave money for a different vacation that year/time period.

I would never look at a timeshare as an investment, rather a pre-paid vacation. Crunch the numbers and see what you think. As I mentioned earlier, TUG is the place to go for this stuff. It's the FlyerTalk of timesharing.

Pat

Could you explain the terms "buy developer" and "developer intervals" for those of us (OK, maybe just me) who are not "timeshare-fluent"? Thank you.

Developer = Marriott, in this case.

Interval = timeshare stay, usually one week. When one purchases an interval, or week, they purchase a 1/52 interest in the underlying real estate, if deeded, or a similar interest to use, if RTU (right to use)

Pre-construction = the period after sales begin but prior to occupancy commencing. Sometimes, this period is expanded to the period prior to the resort being completely built.

In pre-construction, generally, one can only buy from the developer. In rare cases, resales (intervals purchased from the developer and re-sold privately) can become available pre-construction. We've seen one instance of a MGC resale so far on TUG.

Marriott resales generally run between 40 and 60% of the current developer price.

This thread is likely not the best place for a timeshare primer, especially by me :D. Another FT'er, DaveM, is also an administrator on TUG and owns numerous Marriott timeshares. He's far better qualified to comment than I. Did my best though :)

Pat

New Marriot Grand Chateau in LAS? Under Construction but Bookable?
 

Yikes! The Marriott Grand Chateau, Las Vegas is booking but under construction until 2015??!!

I booked my elderly parents in there for one night on March 22. I am meeting them in PSP the next day. I will have them take a cab to the hotel from the` airport, then pick up a car the next day.

I am a Ritz employee and get a Marriott employee discount of $79/night for a 1 bedroom apartment/suite, so if it is a nice as it is SUPPOSED to be that is a good deal. But now the website says that the hotel is under construction until 2015. Maybe that note was there when I booked but I didn't see it.

Has anyone seen the hotel? Any ideas how messy the construction is?

Help! :confused:

This is very typical of time share projects, they go through phases as long as the units are selling, I wouldn't be concerned at all

Ya know-this is pretty d+++ed close to the airport for a "luxury"time share!
Wonder if the noise will be an issue :rolleyes:
I will have to stay there however.

I'm booked there for a week in July and I know that the first tower just opened in January but building will be ongoing for quite sometime.
As a Ritz employee wouldnt you have more of an insight to the actual behind the scenes stuff than the average bear or are you kept in the dark as well...LOL

Whoops....Forgot to ask, what do I have to do to talk you into letting me use your discount.... ;) :p ...LOL

http://www.tugbbs.com/forums/showthr...=grand+chateau

Do a search for "grand chateau" there. Lots of info...

Smokin good deal at 79/nt...

Pat

Gee, I never heard THAT one before. :rolleyes: :D

The RC is the strictest I have ever seen with employee discounts. To get a discount I MUST be checking in to the room with you... sooooo....ummmm... better send a pic first. ;)