When The Economic Slump Hits Vegas, Even Casinos and Timeshares Worry

So far, the timeshare industry has weathered the economic problems in the US without significant impact. Most of the leading timeshare resort developers are still publishing solid quarterly reports, and in many cases, timeshare sales are propping up declining hotel revenues.

But when people stop gambling, we have to feel concern for all sectors of the economy. Typically, gambling weathers almost any economic crisis. For the first two months of 2008, gambling revenues in Vegas were down by 4 percent from last year.

Ups and Downs in Las Vegas Timeshare and Hotel Construction

Hotels Magazine tells us, “…Las Vegas has a huge inventory of new casinos and hotels due for completion in the next few years, and a long slump could send the city reeling.”

The bright side:

  • Caesars Palace is planning a billion dollar makeover, with a 23-story tower and three new swimming pools.
  • MGM Mirage’s $8 billion CityCenter project is still moving forward, encompassing 76 acres on the Vegas strip.
  • Westgate Resorts timeshare‘s fifty story timeshare resort, the Planet Hollywood Towers, is moving forward to become the only timeshare resort directly connected to a major hotel and casino on the strip.

The bad news:

  • Foreclosure has started on a $760 million construction loan for the Cosmopolitan Resort & Casino.
  • Plans to build the Crown Las Vegas, a bullet-shaped hotel and casino resort that was supposed to become the tallest building in the city, have been scrapped due to lack of financing.
  • For January and February, hotel occupancy was down by 1.5 percent, despite the fact that daily room rates were nearly 4 percent lower than for the same period in 2007.

Serving Your Timeshare Needs

Who can even guess any longer, how the US economy will sort itself out? For people who are in the business of buying real estate, selling oil, or repossessing automobiles, then these are good times. And for the rest of us, who need gasoline to get to work, groceries for our families, and mortgages we can afford, well, things are feeling a little scary.

Wherever you are in this economic rollercoaster, Sell My Timeshare NOW is an affordable, safe, and reliable way to deal with your timeshare needs, whether that is buying timeshare, selling timeshare, or renting timeshare.