Wyndham Avenue Plaza New Orleans

easttxbutterfly · Jul 23, 2014

I bought a annual floating week 1-51 excluding two weeks of Mardi gras, 2 weeks of jazz fest and two weeks of sugarbowl. I only paid $1 total. Maint. Fees are $528 yr. Do you think this was a good investment? Transfer has already been transferred into my name at the resort. Just waiting on the deed to be mailed out. how easy is it to rent out or exchange? Any suggestions would be appreciated. I own with Wyndham but have points. So I'm not real familiar with a floating week. Thanks
Christi

vacationhopeful · Jul 23, 2014

And that is a question BEST ASKED BEFORE YOU BROUGHT IT.

There are some lesser festivals NOT EXCLUDED from the above list, but the money makers are the ones excluded.

Yes, I own more timeshares than I can personally USE in a year -- but I tried to learn the market of each place WAY before I brought there (and I have a pretty limited market.)

Will you personally have a FUN time at Avenue Plaza? Yes. Do you have enough FB friends who might rent from you to at least to cover the MFs? Do you truly want to be hassled by the general public to make $50-100 per rental off of them? (Remember, the BIG NOLA events are OFF your booking available list.)

So rent a few timeshares yourself, travel the various resorts and events, learn the ins & outs AND then, figure out a business plan.

PS What size unit is it? Studio or 1bdr? And I have visited Avenue Plaza and toured the property while staying at La Belle.

Saintsfanfl · Jul 23, 2014

The problem with renting a traditional week timeshare in New Orleans is that it is not a week long type of vacation destination. For every renter that wants a week you probably have 20 that just want a few days. Renting your week for a profit that is worth the time and trouble is not realistic.

It sounds like you bought a studio. Your maintenance fee is about right for the studio. The 1BR fee is well over $600.

Unfortunately a studio is not going to exchange well at all, or at least not in II, especially for a $528 fee. There are one and two bedrooms in New Orleans that have about the same fee or less that would exchange much better.

If you were after an investment for renting or exchanging, do the best you can and then be on the lookout for something better and give that one away. Do thorough research on the value compared to your intentions on the use before you buy another.

easttxbutterfly · Jul 23, 2014

It is a studio. I have stayed there twice before and Labelle maison many times. I can use my points from wyndham to stay any of the times restricted from this ts. I was needing to find out how it is to exchange somewhere else since it is a floating week.

Saintsfanfl · Jul 23, 2014

Redweek is a decent gauge on the profitability of rentals of a particular unit, especially for full week rentals. If you see a load of rental listings on Redweek, it means there is profit in it. Very few people will pay to post a listing if they are taking a loss on the rental. There is only a single listing at Avenue Plaza right now. It is for a 1BR next Mardis Gras week for $1,500. There is nothing else listed.

Saintsfanfl · Jul 23, 2014

easttxbutterfly said:
I was needing to find out how it is to exchange somewhere else since it is a floating week.

Usually to exchange you first make a reservation and then exchange that reservation. Some resorts or systems choose your week for you for RCI or II so I am not sure what Avenue Plaza does but you can always exchange using one of the smaller companies. That said, it's just not going to exchange very well since it is a studio, but you can always get something.

Free2Roam · Jul 23, 2014

I own a few of those. The good thing (previously mentioned) is there are lots of other festivals in New Orleans that you can book. And this ownership allows you to split your week into 3 & 4 night stays. And they can be at the same time... checking in any day of the week. The advantage to this ownership over Wyndham Points is that - if you intend to rent - there's no fee to add a guest name.

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pacodemountainside · Jul 23, 2014

I own 1 BR there and find it is pretty good trader. 29 RCI TPUs.

In II I generally pull a 2 BR if not prime week.

Not a big money maker on renting non-major event weeks.

MF are low as no POA fee. $4.71 /1,000. So, you have separate reservation system.

I do stay there for Mardi Gras as right on parade route and mostly families and reasonably sober people. Use CWA at 13 month point or on phone at 10 month mark.

Resort has very aggressive collection policy and makes delinquent units available so generally can book an extra week.

Staff is friendliest I have encountered.

Ron is resident GURU and hopefully he will chime in with words of wisdom.

ronparise · Jul 23, 2014

My Avenue Plaza weeks are my best timeshare investment.....and like the op I stumbled into the first one almost by mistake....I now own ten of these. (the last 9 were not mistakes, I did them on purpose)

My best rental weekend is July 4, thats the Essence Music Festival. As has been said you can split a week into two reservations, one for 3 nights and the other 4 nights> This year I rented my studios for $200 a night so thats $1200 for my $528 in mf......but better yet, each week you own entitles you to a right to use week, and it can also be split Just pay another mf. And whether you own a studio or a one bedroom you can use the RTU for either one....So I paid another $528 and made 2 more reservations and got $200 a night for them too...For those of you that arent counting thats $1344 profit per week owned...and I have 10

is it any wonder that this place is my favorite timeshare?

another good weekend is Halloween.
I dont use redweek, I use craigslist, and there are always several listed there

Saintsfanfl · Jul 24, 2014

ronparise said:
My Avenue Plaza weeks are my best timeshare investment.....and like the op I stumbled into the first one almost by mistake....I now own ten of these. (the last 9 were not mistakes, I did them on purpose)

My best rental weekend is July 4, thats the Essence Music Festival. As has been said you can split a week into two reservations, one for 3 nights and the other 4 nights> This year I rented my studios for $200 a night so thats $1200 for my $528 in mf......but better yet, each week you own entitles you to a right to use week, and it can also be split Just pay another mf. And whether you own a studio or a one bedroom you can use the RTU for either one....So I paid another $528 and made 2 more reservations and got $200 a night for them too...For those of you that arent counting thats $1344 profit per week owned...and I have 10

is it any wonder that this place is my favorite timeshare?

another good weekend is Halloween.
I dont use redweek, I use craigslist, and there are always several listed there

Wow. I stand corrected on my negativity. I didn't realize it was so flexible.

That makes sense that Craigslist is the way to go over redweek. Redweek are timeshare renters but people hunting for New Orleans are probably not your typical timeshare people.

kev5982 · Jul 24, 2014

Ron,

Thanks for the info and always looking out for us to make money.

Is there a fee to add a guest?
How easy is it to change the week desired.

I owned a float week in Aruba and I had to pick three weeks I desired in order
of importance.
Once they assigned a week they didn't like changing the week.
After two times of changing the week they would charge a fee.

Kevin

ronparise · Jul 24, 2014

kev5982 said:
Ron,

Thanks for the info and always looking out for us to make money.

Is there a fee to add a guest?
How easy is it to change the week desired.

I owned a float week in Aruba and I had to pick three weeks I desired in order
of importance.
Once they assigned a week they didn't like changing the week.
After two times of changing the week they would charge a fee.

Kevin

no fee for guests, and change your guest as much as you need to

cancellations are $25 or $150 inside 30 days...RTU reservations are final,,,no cancellations

Wyndham Avenue Plaza New Orleans

TUG Review Crew: Rookie