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Planet Hollywood Timeshare Project Moving Forward

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Westgate Resort Timeshares is a privately owned timeshare and vacation ownership company based in Orlando, Florida. David A. Siegel, a self-made multi-millionaire, who is personally so colorful I could write this entire blog just about his eccentricities, founded Westgate. Instead, I will save the Siegel stories for another time, and choose to focus instead on the upcoming Planet Hollywood Towers.

Planet Hollywood Towers is being constructed with the help of a $400 million construction and development loan arranged by Textron Financial Corp of Rhode Island. Westgate, which already has 28 timeshare resorts in 11 states, records around $800 million in annual revenues. Siegel obviously sees Planet Hollywood Towers timeshare resort as his crown jewel and has been quoted as saying that the timeshare resort is the first timeshare connected directly to a major resort hotel and casino complex, and will provide Westgate timeshare owners with, “vacation experiences unavailable anywhere else in the world.”

Planet Hollywood Resort and Casino kicked things off last week, with a grand opening that included three days of Hollywood headliners, including Bruce Willis, Barbra Streisand, Jon Stewart, Sugar Ray, and, Earth, Wind, and Fire. The event was hyped as Las Vegas’ biggest party, and any way you look at it, that’s tough billing to live up to.

Not so long ago, the prime piece of real estate on which Planet Hollywood Resort and Casino sits was occupied by the Aladdin, a resort and casino that was both grand and garish, even by Vegas standards. When the old Aladdin closed in the late 1990’s, it was imploded (except for the Aladdin Theater), taking with it memories of Elvis and Priscilla’s wedding held there, the many times part owner Wayne Newton crooned “Danny Boy,” or Neil Diamond sang “Sweet Caroline”, and no doubt the millions of dollars that had changed hands over the years across the gaming tables.

Reopening the Aladdin was attempted in 2000, but everything from the failed opening-night fireworks display, to union squabbles, to changing trends along the famous Vegas Strip made the rebirth of the Aladdin brief and painful.

In 2003, Starwood Resorts and Planet Hollywood purchased the Aladdin out of bankruptcy. To their credit, they have developed the hotel not as homage to movie memorabilia, but more along the sleek lines of the highly successful Wynn Resort.

Still, nothing is certain in Las Vegas success. One day they love you and the next day you’re yesterday’s news. But it least for now it appears that Westgate’s Planet Hollywood Towers are strategically positioned for triumph. The timeshare resort will provide direct access to the Planet Hollywood Resort and Casino for timeshare owners in the 1200 villas, which includes 28 penthouse suites.

The nearly 200 boutiques of the Miracle Mile encircle Planet Hollywood, and the 50-story timeshare resort will dominate the corner of Harmon Avenue and Audrey Lane. The towers will include a tropical pool with its own sandy beach and private cabanas, a private pool on the 46 floor for exclusive use by the timeshare owners in the penthouse suites, a fitness center, restaurants, marketplace/deli, and all the amenities $400 million can buy.

Target date for opening this timeshare extravaganza? Even Westgate’s own website doesn’t speculate on when you will be able to buy timeshare at the Planet Hollywood Towers.

Until Westgate’s Planet Hollywood Towers are ready for your next vacation, here are other Westgate timeshare resales for you to enjoy: