Timeshare Trends Blog

Marriott is spinning off its timeshare operations. In a recent announcement, Marriott International has announced that it will be splitting up into two publicly traded companies. Marriott also reported a higher quarterly profit as a strengthening economy has enabled more companies to send employees back out on the road to do business.

Under the spin-off plan, Marriott representatives have stated that the new company will focus on the timeshare business under the Marriott and Ritz-Carlton brands. Marriott International will concentrate on the lodging management and franchise business. In 2010, Marriott’s timeshare segment reported revenue of around $1.5 billion. At the end of last year, it operated 71 timeshare and fractional resorts with more than 400,000 owners and some 10,000 employees—it also held $1.5 billion in unsold inventory.

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Condé Nast has named Marquis Los Cabos as one of Mexico’s top resorts for 2010. The Condé Nast Traveler magazine’s 2010 Reader’s Choice Awards awarded Marquis Los Cabos, a luxury beachfront resort located in the Baja California peninsula, as one of the “Top Resorts” in Mexico. In the magazine’s prestigious annual survey, the magazine’s readers acknowledge the world’s finest properties based on discerning criteria such as food/dining, location, overall design, rooms and service. Marquis Los Cabos was able to earn its top status because of its exemplary features including a 15,000 square foot holistic spa and fitness center, and an executive chef handling three luxurious restaurants including Five Star Diamond winner Canto del Mar. Among resort features, the Marquis Los Cabos has 40 pools, including a 36-foot waterfall flowing down from the lobby and two infinity pools with a spectacular view of the Sea of Cortes. Its 237 suites offer balconies with a breathtaking view of the ocean, amenities from luxury brand Bulgari, top-quality Frette linens and a state-of-the-art hydro-massage bathtub with separate shower room.

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Shell Vacations Club has recently announced the opening of a new offsite sales gallery in Anaheim, California, for the sales of its Shell Vacations Club (SVC) points program. The sales gallery is a 5,000 square foot preview center located within the Shops at Anaheim Garden Walk, which features an oasis of outdoor shopping, entertainment and dining. The Garden Walk is located one block from Disneyland and the Anaheim Convention. The new sales site is also about a block from the Peacock Suites resort, which features 139 one, two, and three-bedroom vacation suites.

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The British government has passed new regulations for timeshares and club memberships. The law should provide better protection for consumers in the United Kingdom that is similar to initiatives sweeping across all of Europe in the timeshare industry. The new rules will be implemented in February 2011 and will enforce fair-trading of timeshares in the industry. According to Consumer Minister Edward Davey, “These products are often sold across borders, so it’s only right that we have protections in place for consumers that also cross borders. Knowing these regulations are in place will boost consumer confidence and boost business for legitimate traders. The guidelines should offer benefits for businesses, such as a simplified version of UK’s current legislation and replaces the old Timeshare Act and the regulations affiliated with it. The new regulations are more standardized and provide the necessary information in a more streamlined manner. The new law will also place “holiday clubs” under the same scrutiny as timeshares, and may put an end to underground business activities. The law should give consumers more confidence in the industry and they will be given vital information before they make any deals and will have new rights in dealing with club sales and timeshare resale services.

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The most recent timeshare statistics as compiled and provided by the American Resort Development Association (ARDA) indicate that there are 1,548 vacation ownership properties in the USA. Seven percent of all households own more than 7.2 million intervals with the average cost of a timeshare interval being $20,468. The majority of timeshares owned are points based systems. Resort occupancy stands at 79.7% and nine out of every ten timeshare owners are current on their timeshare loans and maintenance fees.

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Located in Camp Sherman, Oregon, Lake Creek Lodge provides newly built cabins, each with two to three bedrooms. The Lodge sprawls over 40 acres around the banks of Lake Creek and is located within the perimeters of the Metolius River. According to Paul Nabor, director of sales at FractionalExchange.com, “Lake Creek Lodge provides access to all the best outdoor experiences Central Oregon has to offer. Whether fly fishing, hiking, biking or wildlife watching in the summer, to accessing the ski resorts, snowmobiling, and snowshoeing in the winter, the lodge provides year-round access to all the activities a family could want. We are thrilled to add this exceptional property to our network. We welcome its owners to our program, and are confident our existing members will relish having access to this beautiful exchange opportunity.” FractionalExchange.com originated in Cabo San Lucas, Mexico, when several resort owners were looking for a way to be able to easily communicate with other vacation property owners. As a result of this need, an online bulletin board was created, allowing owners to message each other. FractionalExchange.com was then created to provide a medium through which owners of all vacation properties can communicate. It gives owners the opportunity to visit any location, without any limits on destinations.

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According to the Orlando Sentinel, the top business story in Orlando in 2010 was the opening of the Wizarding World of Harry Potter at Universal Orlando, which opened in June. As the top business story, Harry Potter was Orlando’s economic salve boosting Universal’s attendance by 37 percent and it put heads in hotel beds for miles around, which had the added benefit of increasing local tourist tax collections by double-digit percentages. Harry Potter also gave Disney World some heartburn because its summer attendance remained flat and in some reports attendance was reported to be down by almost 6 percent. People flocked to town presumably under Harry’s spell.

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Wyndham Exchange and Rentals, a business unit of the Wyndham Worldwide family of companies has acquired James Villa Holidays from the private equity fund Vespa Capital, in a deal reportedly worth $77 million. With a portfolio of approximately 2,300 villas, James Villa Holidays is a popular vacation provider in the Mediterranean holiday market offering superior accommodation across more than 50 destinations at affordable prices. With the new acquisition, the scale and scope of Wyndham’s Vacation Rentals further expand to France, Portugal, Spain, Greece, Italy, Malta and Cyprus. The inclusion of James Villa Holidays is also expected to create a strong presence in Mediterranean countries by providing an array of travel alternatives and price ranges through its premier portfolio of acclaimed brands. James Villa Holidays includes more than 50 destinations and approximately 2,300 villas and unique properties across the Mediterranean and Balearic vacation hot spots.

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Wyndham Worldwide has acquired ResortQuest, a leading provider in full-service vacation rentals in the United States. The acquisition price is approximately $56 million, subject to adjustments. The all-cash transaction is anticipated to close by the end of the third quarter, subject to satisfaction of customary closing conditions. With this acquisition, Wyndham Worldwide becomes the world’s largest full-service vacation rental business, providing access to more than 85,000 vacation properties in approximately 100 countries. ResortQuest will provide a strong platform for the company’s expansion into the U.S. serviced vacation rentals market. According to Geoff Ballotti, president and CEO of Wyndham Exchange and Rentals, acquiring ResortQuest, expand Wyndham’s efforts to provide superior rental distribution services to consumers, as well as provide second homeowners the opportunity to rent their properties through a trusted source and well-known brand.

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Wyndham Vacation Resorts has re-opened the Wyndham Nashville after a $10 million rehabilitation. In early May, the region was struck by a large flood that ruined many homes, establishments, and hotel properties. Wyndham Nashville was one of the unlucky properties to survive the massive flood, albeit with substantial damages to its landscaping and lower-lying buildings. After over four months, the property is back in top shape and welcoming Wyndham timeshare owners. Conveniently situated near the legendary Grand Ole Opry and the huge Opry Mills outlet mall, Wyndham Nashville features a large indoor swimming pool, two outdoor pools and spa, and a fully-equipped fitness center. All amenities of the property were part of the reconstruction plan that started on May 6. Aside from rebuilding its own property, Wyndham also helped the Tennessee community by donating $25,000 in flood relief to the Community Foundation of Middle Tennessee.

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