Westin Monache owners and hotel guests...tell me your experience

irvinefsbo_IHB

irvinefsbo_IHB

New member
Are you an owner of a condo hotel at the Westin Monache Resort in Mammoth Lakes, CA? Tell me about your experience with Intrawest.


Are you happy with their rental management program?





Did you stay at the Westin Monache Resort since grand opening Nov 29th, 2007?


Tell me about your experience.





I'm currently considering a purchase at this resort. So any comments/information would be appreciated.


























 
Hi irvinefsbo,





I don't have any experience with this resort but I found these threads at Flyertalk that might be helpful:


<a href="http://www.flyertalk.com/forum/showthread.php?t=748527" target="_blank">http://www.flyertalk.com/forum/showthread.php?t=748527</a>


<a href="http://www.flyertalk.com/forum/showthread.php?t=702159" target="_blank">http://www.flyertalk.com/forum/showthread.php?t=702159</a>
 
<p>Thanks zovall, looks like no one stayed there yet on flyer talk.</p>

<p>lawyerliz: don't understand the con? I'm not selling anything, just soliciting input for a very expensive purchase. ~ $1000 per sq ft. condo.</p>

<p> </p>

<p> </p>
 
Condo-hotels have been around for 40 years. They have not appreciated as well compared to their traditional cousins. In the end, it depends on the rental program and the purchase price in order to determine your ROI. Get a copy of the rental program contract. With most condo-hotels, the hotel unit will take on average 70-85% of the rental income. Don't believe the sales pitch, get a copy of the contract and past rental statements if you're buying a resale. Read the following lawsuit and you'll get the gist of what I'm talking about:



http://www.grahamdunn.com/pdfs/iws_aug2007.pdf
 
I think Westin chain probably has the best time shares ( Four Seasons, and Ritz carlton have slightly different program, and a usually cost ten times more). I have looked into their time share, and know many people have them. I have never heard anything bad about Westin's timeshare in regards to the properties it self or exchanging to other locations. However, I can never justify purchasing one due to the annul maintenance fee which is more than $1200 a year on top of the initial cash outlay. Also, this maintenance fee is not contractually capped. It increases every year usually.
 
condotels and timeshares are similar, they are not investments but alligators that eat your money. just say no if you value your financial health.
 
<p>Con job because it's difficult to impossible to even break even. I did have one client who made money--bought in the beginning before the bubble. </p>

<p>My realtor buddy bought a condominiumized hotel room very cheaply, which has always been profitable for her, but she rents it out herself. Goes over to the beach once in a while and uses it herself too. By very cheaply I mean $86,000. With a really low interest rate too--5% maybe.</p>

<p>If you want it to use yourself and money is no object then go for it.</p>

<p>Most people I know are unhappy with timeshares after a short time too.</p>
 
I could never see the economics of a timeshare. Say you buy one week for $15,000. Well, if you didn't buy, the interest on $15,000 would be $750/year. The annual property taxes and HOA fees add about another $750/year. So if you don't buy, you'd have $1,500 to spend on a week's accommodations which would be pretty nice at that price point without obligation of going anywhere if you didn't want. And you still have $15,000 in the bank. As for condotels, I can't see the economics of a condotel either.
 
<p>I saw a couple of these timeshares. I just ended up getting a small piece of property and building a tiny Bungalow on it. Nothing really crazy, but a garage and a 1 bd place. You could probably have two beds, but I just like to keep 1. Anyways good luck</p>

<p>-bix</p>
 
this is the proper way to think of timeshares. they are not investments. don't even think of them as real estate even if technically you're purchasing a fractional ownership. the best way to think of it is -- <em><strong>prepaying for vacations</strong></em>.





even with a good rental program and properties/unit values going up in value, they'll never grow fast enough that it'll be a profitable investment since the annual maintenance fee is so high.





however, can they be worth it? of course! think about how many times you go up to mammoth a year. during the peak ski season you'll easily spend $300-500/night for even the most basic hotel room at one of the slopeside lodges. i can't comment on the monache specifically but i've seen westin timeshare units in hawaii which were absolutely gorgeous and i would imagine the same in mammoth. so if you know your family spends a wk in mammoth every year and you typically stay in higher-end accomodations, and you've got the down pymt (taking on a loan kills the economics of the whole thing), then go for it.





its not much different than gym memberships. they make a ton of money from initiation and enrollment fees. for people who never bother to get their butt to the gym, every month its a complete waste of money. but if you're taking advantage of it fully, it can be completely worth your money.
 
<p>My wife and I have taken to using the 'timeshare sales experence' as four hours of interactive entertainment that can't be replicated at any price. Better yet - they pay you.</p>

<p>I heart Vegas.</p>
 
my wife and i went to westin's maui timeshare earlier this year. we were lured by the westin name but came away disappointed. turns out there is a stripped down westin and a luxurious westin within a 10-minute drive of each other. you can buy a timeshare in either one. the stripped down one has one on-site restaurant and one general store; the ritzy one is your typical westin -> luxury stores, multiple restaurants, wild animals for the kids to look at, etc., etc.





have you ever stayed there before?
 
i went to the disney vacation club presentation during a trip to WDW this year. it was actually - dare i say it - fun? we did it pretty much because they would give us 6 special fastpasses that work at any time as well as shuttle us anywhere within wdw we wanted to go afterwards. they promised it would take 1 hr max and it was a nice relaxing break from the humid summer heat. it was a 1 on 1 discussion (well, 2 of us and one of disney rep). we had tea and cookies while sitting on a comfy couch in this gorgeous living room-like facility disney built just for their vacation club pitches. afterwards they led us to a turn of the century style ice cream parlor where we indulged while waiting for our ride. the sales rep said if we were interested, everything quoted to us would be valid until 3 days after we returned home from our vacation. and if we were interested, we should call them. once we walk out the door we would never be bothered unless we initiated it. ultimately we thought about it but decided we werent interested, but disney kept their word not to bug us about it.





the hawaiian store at the block, hilo hattie, has a timeshare rep there. never gone to any of the presentations they pitch but have friends that have. they said they did the 2 hr presentation and got their choice of 2 nights hotel/air to honolulu or napa valley. they chose hawaii. restrictions included the pkg could only be used on wkdays. the hotel was a few blocks from the beach as opposed to one of those beachside resorts but they had no complaints.
 
<p>almon:</p>

<p>No I have not stayed there, but visited it last week. Very understated and nice. But the Whitebark restaurant didn't have a liquor license yet. </p>

<p>This is not a time share, but a whole ownership condo which is in a 4 star hotel. I personally would not pay $459/nite to stay there on the weekends. And don't know anyone who would. My friends will pay $200/nite but would expect all the Westin amenities. But that would be less than my cost. If Westin rents my condo out, they would pay me half the rental rate. </p>

<p>So I would lose income if my friends stay in my condo. So I might as well not mention that I own anything in Mammoth. </p>

<p>Current Village of Mammoth owners say there is enough business to rent their condo at 80% occupancy in winter and 65% occupancy in summer. But most vacationer give short 1 - 2 week notice. That can be pretty stressful as an owner.</p>

<p>At those high level occupancy it will be a win win for hotel and owners. But if occupancy is low, it could turn out to be a money pit.</p>

<p>By the way, I see timeshare presentations as assertiveness training. Teaching you how to say No! in an assertive way.</p>

<p> </p>

<p> </p>
 
irvinesfbo: I have a 1-bedroom unit in a quiet section of the Village, and am committed to a studio in the westin.

I had planned on selling the unit I have when the westin was ready, but the market is frozen in Mammoth(no pun intended), so I may be walking away from my 10% deposit, as I can't carry 3 mortgages. I ran about $20,000 negative last year, but I believe the Westin will have better management and marketing, and maybe better occupancy(all this snow may help too). If anyone out there in the business has ideas or is interested in making a deal work by avoiding the usual agent costs, on either of the units, please let me know. I'm not sure that the premium units in Mammoth will come down that much, as a lot of them were snapped up by wealthy OC types at the sales event, and they are holding tough. Happy skiing. I am at exuct78@aol.com
 
I am currently buying a Disney Timeshare and I'm a travel agent. Very few are worth their money. I like Disney because they control resale. Also, Disney hotels are expensive and only go up in price. Great example Disney is the only company with no 800# to book a vacation. They don't need one because people will pay for the call. They are currently building Ca and Hawaii so Disneyworld will not be the only option.



I love Westin hotels (heavenly bed is the best!) but they have a high maintenance fee. The negative now is on Mammoth itself. I grew up in a place where we had snow once a year and in the last 10 years they have had none. What if they don't get snow in the future??



With the dollar falling where do you think the world will travel!!! Kiss cheap hotels goodbye in the US for awhile. Well unless after the housing crash nobody can go on vacation. You really don't make money on a timeshare your just pre paying your vacation for the next 50 or so years. Also, you usually don't pay hotel tax's which are going up and up.
 
believe it or not the best place to buy timeshares is Ebay. just search using the key words "timeshare" and the location of whatever place you are interested in, and you can buy timeshares at a fraction of what the timeshare presentations are asking. in fact there are timeshares that go for $100 since they are older properties where the facilities are older, and you can rent for less than the maintenance fees. so the owners of these older timeshares just want to dump them to avoid the HOA and property taxes. even the newer timeshares like newport coast go for about $5,000 compared to the $15K to $25K they are asking for at the timeshare presentations. so if timeshares make sense to you, go to a presentation, see if you like it, then buy it on Ebay.
 
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