Double Value?

I am really new to the timeshare world. Just bought 1 BR-annual-floating of Planet Hollywood Tower about 2 weeks ago.

The developer's sales team told me that my one-week ownership can exchange for "2 weeks" at other places starting in 2010. They also said that PH Tower is the best and most valuable timeshare at Las Vegas, due to its location (at the center strip) and being brand new. They claimed that the ownership of PH Tower is worth "double value".

I would like to hear from other timeshare owners. Thank you for sharing your thoughts.

Wife and I went through this sales pitch this weekend. We wouldn't buy. First I would never buy something that is not completed. Second I heard that PH was in trouble and looking for investors. I don't believe you will get your money worth. If the economy goes bad Vegas hotels could drop there price, since you now have a contract you are obligated to pay the monthly payment and fees no matter how high they go up. PH also had taxes included, add that up for each room times 52. Taxes also go up. We spent 4 nights in a hotel on the strip for less then $500, our convertible rental cost more. So why pay the huge down payment and monthly cost. I love to Vacation that is why time shares will not work, West-Gate wants to control vacation time, when you can go and where. I can't always go on week 27 or whatever. Trying to exchange or get into what's available where you want to go in the time share market does not work well. Forget about selling. Next year look on E-bay for people selling there timeshare at PH for 90% less just to get out of fees. I would not want a timeshare if given to me just for that reason.