Over 100 new resorts in 2009 were welcomed by RCI, the world’s largest vacation exchange company. Demonstrating that vacation exchange remains a bright spot in the travel industry, RCI, considered the global leader in vacation exchange and one of the Wyndham Worldwide family of brands, announced that it added more than 100 new resorts in 2009 alone, including 10 properties under development.
Dominican Republic’s Presidential Suites By Lifestyle has joined RCI’s network of affiliated resorts. In alliance with Globalia of Spain, this resort group is one of the most prestigious chains in the Dominican Republic. The newest Presidential Suites by Lifestyle is located in Bahia de Cofresi, Puerto Plata and offers fully-equipped two-bedroom units and an exclusive specialized restaurant called Jazz which serves French fusion style cuisine, a blend of New Orleans and French haute cuisine. It also has a Bourbon Street bar, a private swimming pool and three tennis courts. The resort is part of the Lifestyle Holidays Vacation Club complex, with access to three semi-private beaches, seven restaurants, four swimming pools, a spa, a kids club, a gym and more.
On line resale advertising is the most popular way to purchase additional timeshares. The vacation timeshare industry has expanded rapidly in the past decade, and every year more and more travelers discover the benefits of timesharing, whether it’s through ownership or timeshare vacation rentals. But how are the majority of new and repeat timeshare owners and renters finding their timeshares? According to a report from the ARDA International Foundation (AIF), “The most popular choice among all timeshare owners for purchasing an additional timeshare is by resale listings online.” Timeshares By Owner is one of the leading on line resale advertising companies.
Timeshare occupancy is strong despite a weak economy. According to the AIF State of the Vacation Timeshare Industry: United States Study, 2010 Edition, prepared by Ernst and Young, the timeshare industry reported an average of 79.7% occupancy rate in 2009, compared with the 54.7% occupancy rate at the hotel industry. Around 54% of resorts are at least 80-percent occupied, and 34% have occupancy of at least 90%. Only 12% of resorts are less than 60-percent occupied.
Inn season Resorts has now joined RCI’s Global Network of resorts in a new multi-year affiliation relationship that will allow eligible InnSeason owners to become RCI members. Inn Season Resorts are located in Maine with two properties, New Hampshire with two properties, and in Massachusetts with five properties all located on Cape Cod.
Timeshares By Owner attended the America Resort Development Association (ARDA) Convention in Las Vegas during the week of March 15th. Our radio show, Vacation Time on WDBO 580 am was privileged to conduct interviews with some of the leading figures in the timeshare industry.
They included Howard Nusbaum, President of ARDA, Franz Hanning, the President of Wyndham Vacation Ownership, and Rob Webb, Esq, Senior Partner of the Baker Hostettler Hospitality Group, and Jeffrey W. Frantz, CEO of Timeshares By Owner. These interviews provided valuable insight into the furure of the vacation ownership industry, and the ways for timeshare owners to deal with financial hardship.
A replay of the radio show, Vacation Time, can be heard on www.wdbo.com.
Among timeshare owners, owner satisfaction rates are high, while defaults are low. According to the latest research by the American Resort Development Association (ARDA) and Smith Travel Research, despite the fact that timeshare sales continue to reflect the national trend of lower consumer spending, there are 80% occupancy rates in timeshares versus a 60.4% hotel occupancy rate.
Timeshare buyers also remain happy about their purchases with 86% reporting that they are satisfied are very satisfied with their purchase. Research also indicates that nine out of ten timeshare owners are current on their monthly payments.
FRAUD ALERT
WE HAVE BEEN ALERTED TO A NEW FRAUD BEING PERPETRATED ON OUR CUSTOMERS.
COMPANIES ARE CALLING OUR CUSTOMERS AND ADVISING THEM THAT THEY WORK WITH TIMESHARES BY OWNER® AND THAT THEY HAVE A BUYER. THEY FURTHER STATE YOUR LISTING PRICE, THAT THEY ARE A FINANCE COMPANY, AND THAT THE BUYER HAS ALREADY DEPOSITED 20% OF THE PURCHASE PRICE. THEY REQUIRE THE PAYMENT OF A FEE FOR CLOSING AND FINANCE CHARGES.
THIS IS A FRAUD THAT IS BEING CONDUCTED WITHOUT OUR AUTHORIZATION. WE DO NOT WORK WITH ANY OTHER COMPANY TO SELL YOUR TIMESHARE. IF THE COMMUNICATIONS DOES NOT COME FROM US, IT IS FRAUDULENT.
IF YOU RECEIVE THIS CALL, PLEASE CALL BECKY GOMEZ OF TIMESHARES BY OWNER® IMMEDIATELY TO REPORT IT AT 888-707-8463.
THANK YOU FROM THE STAFF OF TIMESHARES BY OWNER
The timeshare industry has recently seen its single largest increase in maintenance fees according to a report from Apex Professionals LLC. According to their report, with the recession, timeshare owners around the world have had to reconsider their once affordable timeshares as debt they need to eliminate. The Apex Professionals report spotlighted one developer that seems to be a major player in this game of increasing fees, which is Diamond Resorts International (DRI).
The annual maintenance fees for a DRI property have doubled since 2001, increasing from $695 to $1,400 today in 2009. Owners of DRI properties seem to have a common complaint and concern over how quickly the fees are increasing, and although, DRI is not the only company guilty of this trend, they are currently in the spotlight due to owners demanding answers and drawing attention to the situation.
Like many other timeshare owners, DRI owners have been feeling powerless with decisions on maintenance fees and special assessments, which is mainly due to the fact that most owners associations and board members are employees to that particular developer. It is rare to find a large developer today that isn’t designed that way. With this structure, it is nearly impossible for the owners to have control over their properties and the fees that come along with it.
The Club La Costa Resorts and Hotels have been undergoing a major restructuring in response to the changing trends caused by the worst global recession to affect the holiday industry. Recently, the company moved to close down four of its five off-site sales operations in the United Kingdom due to the country’s continuing economic battering, to refocus on new programs aimed at increased activity.
Club La Costa Resort’s prestigious sales and exhibition center in London’s West End continues to operate, but a decision was made to shut down its other sites as their effectiveness in the current financial climate was under question.
