NEWH - April 2004 - (Page 44)

talk about fast track... the growth of the timeshare market in Las Vegas by: David Kruljac, Penta Building Group In the United States, Timeshares began more in the Southeastern area, and have grown with client/guest vacation destinations. One that has really taken off, would be a popular spot known as Las Vegas. Las Vegas has developed into a very eclectic city, with access to most anyone’s desires. Visitors have so much to enjoy; world-class casinos, shows, golf, restaurants, spas, sports with the various recreational areas and of course the wonderful weather. All of the amenities offered outside of the Resort are just a few of the reasons many choose Las Vegas as a repeat vacation destination. Gambling can alter ones desire to return; yet with ownership they always come back. In Nevada, the typical owner is a married 54 year old that earns $75,000.00 or more a year. The amenities offered within the Timeshare couples the comforts of home with the excitement of a multi-dimensional city. Las Vegas grows daily; many see their timeshare ownership as being an investment and not so much as a luxury. Owners welcome the option to a typical hotel stay. stage, and markets the sex and sizzle” allowing continued future sales and client satisfaction. David Kruljac with Penta Building Group reviewed the challenges of embarking on a project of this scale and time restraints. One of the most effective ways to schedule a fast track project is through subcontractor input. Once a subcontractor knows the general contractor’s flow, the subcontractor can submit a schedule that works within contractor’s schedule. If a subcontractor knows that they must complete the floor of a tower in one week, they can look at the necessary labor force to complete the work. If the labor required exceeds the amount of physical work area, then other things can be planned such as splitting the crew and working in different areas, working on a second shift so they would be the only trade on the floor. They might also break their activity into different time frames: stock the floor on a second shift, construct on a normal time shift, and clean up on overtime. It is not unusual for a job site to be active around the clock servicing the different shifts and project schedule. If Contractors can put a Casino up in 18 months or less, why are these timeshares taking longer? Timeshares are typically marketed and built as fast as they can sell them. When the first Phase sells, the next phase is being designed, developed and built. Penta Building Group is currently involved with the “Grandview” Timeshares, which are to be completed in 11 months for the first building, sales building, and site amenities. The second building will follow 4 months later. Timeshares are becoming increasingly profitable for developers and owners, with over 4,000 currently being planned or built in Southern Nevada. The “Grandview” project is two 130-foot tall towers (12 stories), 182,000 square foot combining to 384 units. Each of the units will average in size to 720 square feet. The amenities within each unit will typically include: Kitchen w/microwave, a master bedroom, dining area, living area with a built-in-television niche, bathroom with two sinks, whirlpool tub and separate walk-in-shower. Other amenities are two pools, a waterfall and 28,000 square foot pool deck, a fitness center, game room and delicatessen. One of the most important areas is the 20,000 square foot sales and registration office that “sets the 44 The Grandview project staff meets daily to coordinate different areas of the project. The project Superintendent will conduct weekly subcontractor meetings to coordinate work flow and activities. For more information on Penta Building Group, please visit www.pentabldggroup.com . . . And when the project is finally completed, one feels a huge connection with the team and overall accomplishment! Completion and the overall accomplishment one feels is not without the combined efforts of the Owner, the design team, the general contractor, the subcontractors and vendors, and the building and fire department officials. “The Grandview will require 300 people and 1,563 truckloads of concrete to complete. In order to deliver the project earlier, ...multiple crews in multiple areas, overtime, double shifting work and careful planning ...will be done simultaneously. “ - David Kruljac, Penta Building Group http://www.pentabldggroup.com

Table of Contents for the Digital Edition of NEWH - April 2004

NEWH - April 2004
President’s Letter
Calendar of Events
Contents
From the Editor
Hospitality News
In Memory - Thomas R. Durkan, Sr.
Top Hotel Developers - John Q. Hammons
On the Road Again
HD Expo at a Glance
Surviving HD
Did You Know
Exclusive Lifestyle by Design
If It Were Easy
The Best of Time
Talk About Fast Track
What to Expect From the Vacation Ownership Industry
A Look Back in History
The New Direction for Timeshares in Europe
Confronting the Disabilities Myth
Furnishing Today’s Timeshare
Art - The Final Piece of the Puzzle
Showcase Projects
Design Education Today
Designer Profile: Esther Dunbar-Cullum
Oh Canada, Oh Canada
Top Awards
From Across the Pond
Spotlight On...
Tips on Specs
Window Treatments 101
Hot New Products
We Want Your Projects
Bios

NEWH - April 2004