I am a well seasoned traveler who has traveled across the globe. This is the worst 'nice' hotel I have ever stayed at. If someone bought one and almost always put it in the pool I would be shocked if they got much beyond break even.Do not stay here. If someone wants to use it then the numbers might work, but there has to be some implied value to time in the unit for the owner to make much sense. It's just a risky investment is all there is to it. Maybe a bit in January too, but i bet January makes up the majority of the 11% of nights not filled. Summer and late fall is when I would really worry about occupancy and rate. They are conveniently not in the last 120 days though. Its a good thing the rental pool.hahahaha. I like the dude above would use my unit 3-4 months a year. MGM unit more expensive but better location and 60-40 split makes up for it-id like to think.lol. Im thinking a strip view Palms or strip view MGM. The strip view is something that can be monetized if done correctly. One thing i learned is that they charge varying rates for different units. There are low rental periods but they are few and far between. If you are a serious buyer, all you need to do is contact any listing agent to get the rental statements for the unit you are interested in. I don't like Palms Place that much since it's off the strip, but at the moment it cash flows OK. The key to having good rental pool occupancy results is dont go for a mountain view low floor. And since you arent overpaying you may see tremendous price appreciation. The units are great and price in the $150 about as good as you going to get. And Palms Place is my first choice due to location and I like the units.Īny thoughts/advice? What am I missing? Is this a bad idea?ĭont listen to these nimcompoops. So I would save myself that expense by owning a condo hotel unit. What makes this more attractive to me is that I generally spend around 50 days in Vegas each year, and I generally pay to rent a condo for that period. I am being advised to use Palms Place to rent out the property for the time I am not there, which I assume is what is referred to as the 'rental pool' above. So that is close to $7k per year in outgoings. HOA is now $554 apparently and I am being advised to spend $24 on rental insurace. I am in the same position as it sounds Gina was in, in that I am considering purchasing a Palms Place unit at around $150k, and I am looking for any info on the annual occupancy rates and average room rates in order to calculate any potential returns.

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