Timeshare Trends Blog

Timeshare By Owner has announced its Code of Conduct in a recent press release. Timeshares By Owner (TSBO), according to its CEO, is doing this because “there are a lot of bad actors in the timeshare resale industry and we want to display that we have the right intentions.” TSBO, the leading timeshare advertising company, conducts a multimedia advertising campaign that includes Google, Yahoo, Bing, AOL, Facebook, its own radio show, billboards and print advertising. In addition, there’s a full-time Timeshare Concierge service that matches the thousands of offers received per month to its clients. The Code of Conduct distinguishes TSBO from the rest of the industry and informs consumers of their guiding principles, and provides consumers with a set of promises that they can depend on. The Code of Conduct follows 10 points: to advertise your timeshare until it sells, rent your timeshare every year with no additional cost until it sells, showcasing on its website every year and renewal is free (just contact each year by letter, phone or email requesting a free renewal), to never divert for sale by owner leads to a real estate broker that will charge another fee, never charge any fee other than for advertising services, a sales and customer service staff that will treat you honestly and fairly, a customer service department will call back after no more than 48 hours and will try to take calls live, to be notified every time someone views an ad even if there is no offer, a concierge service that will forward as many offers as possible, and last but not least to continue to use the most sophisticated and effective marketing techniques so that offers will be obtained.

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Starwood Hotels and Resorts Worldwide has reported that revenue from its vacation timeshare and residential sales and services division rose 6.1 percent to $140 million. Expenses rose as well resulting in earnings that were flat with a year ago. Starwood said the number of timeshare contracts signed increase 8.2 percent, but the average price per unit was down 2.7 percent from the same period last year to about $14,000.

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Wyndham Wordwide timeshare revenue in the recent third quarter increased 5 percent over one year ago and totaled $559 million, according to an Orlando Sentinel article. The increase reflected higher timeshare sales as well as commissions generated by its fee for service operation. Gross timeshare sales totaled $455 million up 10 percent compared to a year ago.

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Acadia Village Resort has been forced into foreclosure by the city of Ellsworth, Maine. The city has been thrust into the vacation timeshare sales business after the resort developer and timeshare owners have fallen far behind on taxes for dozens of units. Beginning in April, Ellsworth officials began foreclosure sale proceedings on 66 timeshare units with each unit representing one week’s use of the specific property. Because of the way the resort was incorporated, Acadia Village requires city officials to collect one week’s worth of property taxes from the more than 2,000 partial owners. Timeshare owners represent about one-quarter of the city’s 8,000 property tax payers.

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Best of 2010 Resort Opinion Poll has been announced in seven categories, which include Beach, Family, Spa, Ski, Golf, Urban, and Romantic. This poll was recently announced in the Developments Magazine issued by the American Resorts Development Association (ARDA) and conducted by a popular on-line vacation site. The winners are as follows: the “Beach” category goes to the Wyndham Bali Hai Resort on Kauai in Hawaii, the “Family” category goes to the Monarch Cancun Resort in Las Vegas, the “Spa” category goes to the Sedona Summit Resort in Arizona, the “Ski” category goes to Grand Lodge at Peak 7 in Colorado, the “Golf” category goes to the Ridge on Sedona Golf Resort also in Arizona, the “urban” category goes to the Buckingham Hotel in New York City, and finally the “Romantic” category goes to the Point at Poipu on Kauai in Hawaii.

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The Fisherman’s Paradise Resort is scheduled to open on September 9. The resort is actually a boat and is moored 15 miles off the Clearwater, Florida coast. It is a barge that after six years of construction has been converted into a five-story $25 million floating palace and boasts a helipad, marina, two-floor gym, a sports bar, a wine cellar, and a movie theater. It will loop between the Gulf of Mexico, Panama, and Belize and its cost will include a helicopter ride and a charter fishing tour. To check in, guests must dock boats in the barge’s marina and take a shuttle boat or go by helicopter from the St. Petersburg-Clearwater International Airport.

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Timeshare industry salaries remain steady or slightly down, according to Executive Quest Inc., which has released the results of its annual study of salaries within the timeshare and vacation ownership, fractional, and hospitality industry. The research is based on survey data from more than 20,000 contacts. The survey covered salary, bonus, non-cash perks, commission, total annual compensation, years in the industry, resort locations, units and total annual company revenue. The survey shows that the timeshare and fractional industries continue to feel effects of the economy, but to a lesser degree than in 2010. The hardest categories were realtor, real estate developer, timeshare sales and timeshare broker. Timeshare sales representatives showed a slight increase while sales managers and directors showed a minor cut in compensation. The report finds that many executives received non-cash perks including a company automobile, health and life insurance, contributions to a 401k, housing for family/visitors. The non-cash perks were converted to a dollar amount and are included in the total compensation figures.

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Split Rock sales reps have been granted $2.2 million in a landmark case. A Pennsylvania court has ordered Split Rock Resort to shell out the money in wages, benefits and penalties for sales representatives misclassified as “independent contractors”. The Court of Common Pleas of Philadelphia County found that by misclassifying 259 salespeople as independent contractors, Split Rock failed to pay employee wages and benefits required by Pennsylvania law. The lawsuit was filed in August 2008 by Split Rock sales reps that did not receive their benefits from June 1, 2005 to December 31, 2008. Named in the initial complaint were Vacation Charters Ltd. and W. Jack Kalins, owner of the Split Rock Resort in Lake Harmony and several other timeshare resorts. The court’s judgement marks a new development for the timeshare industry. This is the first case in the US where sales representatives succeeded in securing proper classification and compensation from the timeshare and vacation rentals sector.

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Eden Club is now a member of the Exclusive Resorts. The alliance provides Exclusive Resorts members the opportunity to experience the luxury and style of Eden Club’s private estate residences located on the grounds of Scotland’s historic Pittormie Castle. The resort sits a short distance away from the Old Course in St. Andrews, known as the birthplace of golf. Members have access to on site restaurants, itinerary planning services from the staff, and a golf concierge that handles all of the arrangements with St. Andrews and more than 30 other golf courses nearby. In addition, members of Eden Club will be granted access to vacation destinations under Exclusive Resorts, including a long list of beach, mountain, leisure and metropolitan locations around the world. As part of the overall experience, Eden Club members also get the personalized services of Exclusive Resorts staff, including pre-travel planning options, pre-arrival grocery shopping, a daily housekeeping service and the assistance and expertise of an on-site concierge.

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Wellington Financial has renewed their commitment to Bluegreen Resorts. The bank led a consortium of lenders to renew their commitment and provide a $60 million end-loan finance deal with Bluegreen Corporation. Bluegreen resorts manages, markets, and sells the Bluegreen Vacation Club, a flexible, real estate based vacation ownership plan with more than 160,000 owners, over 56 owned or managed resorts, and access to more than 4,000 resorts worldwide.

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