Although it’s not a record number, some 1,000 timeshare units have been added to the Las Vegas shared ownership market in the last couple of years, thanks to improving consumer demand and a decidedly healthier financial market.
Las Vegas, like its neighbour California, is historically a favourite winter sun and weekend escape for many Americans.
“We are seeing a continued pattern of increased travel,” said Ed Kinney, a spokesman for Marriott Vacations Worldwide. “There is a tremendous interest and Las Vegas has always been a popular destination.
The market has started to grow again following a slowdown in pace over the last few years – as an example, the number of new timeshares planned for the next few years has escalated from eight, two years ago, to 68 timeshares last year.
The new timeshare development boom includes the construction of a new tower at Grandview at Las Vegas, near South Point, rising from 1,556 units to 1,856, while The Hilton Grand Vacations unit of Hilton Hotels &Resorts has bought 300 units at the Trump International Hotel to add to its luxury timeshare portfolio.
Meanwhile, Marriott Vacations Worldwide last month completed the third 37-floor tower of its Grand Chateau, adding another 223 units to the property.
Finally, after a four year break, building work on the Desert Blue timeshare (belonging to Wyndham Worldwide, and featuring 281 planned units) has begun again. Yet another sign of the healthier economic climate which looks set to lead to more timeshare accommodation options for owners who want to soak up the hot Nevada sunshine and Las Vegas nightlife in the years to come.