Friday, January 31, 2003
A stroll along the Las Vegas Strip has always meant running a gantlet of the siren call of "loose" slot machines and "liberal" blackjack games. However, in recent years there's been a new kid on that glittery block making a reach for tourists' wallets -- the time-share pitchman.
"Hi, folks, how long are you going to be in town?" or "How about a couple of free show tickets for you two?" is the way it frequently begins.
The hawkers camp out on the sidewalk and in casino lobbies. And although it can be downright annoying after, say, the fifth or sixth time, there's no disputing that visitors are increasingly buying into the idea of getting time shares in Las Vegas.
A decade ago, while the other 900-pound gorilla of U.S. tourism, Orlando, Fla., was chock-full of time shares, Vegas had almost none. On the surface, that made sense. Time-share accommodations, usually one- and two-bedroom, fully equipped apartments, allowed families making the theme-park rounds to spread out after a hard day riding Dumbo, and to trim vacation costs by preparing a few meals themselves. Vegas was always the place where the hotel room was a place to crash between casino sessions and late-night dinner shows.
However, as Las Vegas has changed by offering a broader range of attractions, such as fine dining, museums and world-class shopping, so has the typical visitor. As a result, time shares have become a popular new segment of the lodging market there.
What's available
Five years ago, there were 1,578 time-share units in town, according to the Las Vegas Convention and Visitor Authority. As of June 2002, that number had nearly doubled. There are firm opening dates for at least 1,000 more units through 2004, and there are 8,000 more in various phases of development. Still, it's only a fraction of the total room inventory in town -- more than 127,000 at the end of last year.
Among the most recent news concerning Vegas time shares was the announcement earlier this month of plans for a 700-unit, 54-story project with a South Beach flavor being built by Westgate Resorts at the south end of the Strip.
One of the first developers of time shares in Las Vegas was Hilton Grand Vacations Co., which opened its first one in 1994, a striking pink building with 200 units just beyond the Flamingo hotel's lush swimming pool area. It then added a second time share, with 232 units, near the Las Vegas Hilton.
Buoyed by the success of those two, the company plans a third project with more than 1,500 units on the north end of the Strip near Sahara Avenue.
"We were successful right from the beginning, especially because we were attached to existing casinos," said Antoine Dagot, president and chief executive officer of Hilton Grand Vacations Co. "The cost of entry into the Las Vegas market is very expensive, and if you don't have a partnership with a casino, it can be very difficult to market." Dagot, who had experience in Orlando's superheated time-share market, said the changing face of Vegas itself made it fertile ground for time shares.
The costs
Hilton's Las Vegas time-share properties range from $12,500 to $28,000, depending on the size of the apartment -- studios to two-bedrooms -- and the time of year. There are also annual maintenance fees and taxes that, in Hilton's case, can amount to $410 to $580. For their money, buyers get a week's use each year at the resort where they buy, or they can trade their week for one at a resort elsewhere.
However, Vegas visitors don't necessarily have to buy a time share to stay in one. Units are frequently available for rent. Key to many Las Vegas time shares is flexibility. Owners can often divide their vacation time -- for instance, staying at the resort three nights one time and four nights another. Hilton works on a point system that lets owners increase their vacation days by electing to stay in smaller units or traveling at times of the year with less demand.
"Flexibility is the key to time share in Las Vegas," said Cindy Wild, director of marketing communications for the Polo Towers, one of the first time shares on the Strip. "The property that offers the most flexibility wins."
The Polo Towers, located between the Aladdin hotel-casino and the MGM Grand, opened in 1992. The resort's first two towers have sold out and the third, called the Villas at Polo Towers, is still being marketed. The one- and two-bedroom units are priced between $16,000 and $22,000 for a week, depending on size and season. In some cases, owners of larger units can split their apartment into a one-bedroom and a studio, which allows them to stay in the studio and trade the one-bedroom.
The service
"We try to offer the same amenities that you would expect from any top hotel on the Strip, like daily maid service, valet parking and a full-service concierge," Wild said. The Polo Towers has even been making a name for itself with a hot night spot called Hush that sits just below a rooftop swimming pool.
So is it worth going for those freebie show tickets from the barkers on the Strip and spending a few hours of your vacation listening to a time-share sales pitch? You have to make that call. But remember: In Vegas the notion of something for nothing is often an illusion.
XContact Bill Ordine at ordineb@aol.com.