Timeshare Trends Blog

The Las Olas Beach Club in Cocoa Beach continues to be successful. As featured in a recent Orlando Sentinel story, this resort is completely sold out, their owners are happy, and yet it is based on the old formula from when timeshares first started in the 70s– when timeshare buyers purchased the same week in the same unit at the same resort each year. Now many timeshare companies sell points that may be exchanged for different resorts and weeks at locations around the world. Big developers such as Marriott and Wyndham have crowded out many of the old single site developers. Las Olas with its 28 units and 1,000 owners says it considers their longtime owners to be an extended family and they work with each owner to resolve ownership problems, which is one reason why they continue to be successful. The American Resort Development Association is now looking at some of the best practices of legacy resorts like the Las Olas to utilize in the big development timeshare companies.

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The Four Seasons Hotels and Resorts has secured financing for $360 million to build a luxury resort right on Disney World property and will commence construction in December 2011. The 444-room hotel will include a rooftop restaurant with views of the Magic Kingdom and a lazy river water feature, among other amenities, and is expected to open in mid to late 2014. The project will include as many as 40 Four Seasons timeshare units and up to 90 private residences.

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Shell Vacations Club (SVC) and Interval International have announced a long-term partnership. The Illinois based SVC is a well-known independent resort developer and this agreement encompasses up to 24 SVC operated and affiliated resorts in Mexico, the United States, and Canada. Shell Vacations has roughly 65,000 members who benefit from its points-based program and come January 2, 2012, all consumers will be automatically enrolled in the Interval International membership club. Shell owners will receive the year-round benefits of Interval International, and the SVC Elite members will become part of the prominent Interval Platinum level.

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Silverleaf Resorts, Inc. has been acquired by SL Resort Holdings Inc., an affiliate of Cerberus Capital Management. The transaction was approved by Silverleaf’s Board of Directors. Under the agreement, Silverleaf shareholders will receive cash for each share of Silverleaf common stock they own, and Cerberus has agreed to provide equity financing for the full amount of the merger. Upon completion of the transaction, Silverleaf, based in Dallas, Texas, will become a private company, wholly owned by Cerberus, and its common stock will no longer be traded. Silverleaf consists of 14 resorts located throughout Texas, Missouri, Massachusetts, Illinois, Georgia, Florida, and Colorado.

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Shell Vacations has added Park Manor Suites in San Diego to its portfolio. As a result of Shell Vacation ownership, the resort will change its name to Inn at the Park. The chairman of Shell Vacations has indicated that this will be a signature location for its resorts. The property offers two dining outlets, is imbued with European ambiance and neo-renaissance architecture and features a combination of studio, one and two bedroom suites, ranging in size from 525 to 1,000 square feet, with 9-foot ceilings and large sage windows with postcard-picture views of the city below. Some units have balconies for enjoying the famed San Diego weather.

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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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Interval International has extended its affiliation with Four Season Residence Clubs. The relationship was established in 1997 when Toronto based Four Seasons Hotels and Resorts, a leading operator of luxury hotels, entered into the shared ownership industry. The multi-year agreement encompasses two exceptional new properties, the Four Seasons Residence Club Aviara in Carlsbad, California, and the Four Seasons Residence Club Scottsdale at Troon North in Arizona. The Aviara is set amidst rolling valleys and a protected wildlife sanctuary with views of the Pacific Ocean. Each villa includes a fireplace and private balcony. The Scottsdale at Troon North is nestled within Arizona’s Sonoran Desert.

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LaSalle Hotel Properties have expanded by acquiring the Chamberlain West Hollywood Hotel in California. Situated in the heart of downtown Los Angeles, the 113-key all-suite property was purchased for $38.5 million. The hotel’s neighborhood offers upscale shopping, dining, and vibrant nightlife. Originally constructed in 1970, the building used to be an apartment property, which was converted into an all-suite hotel that opened in 2005 as the Chamberlain West Hollywood. The hotel recently underwent a meticulous $4.5 million renovation that included a refurbishment of the rooms, bathrooms, rooftop, corridors, lobby, and the pool area. In addition to 113 luxury suites, each with a private balcony and a gad-log fireplace, the Bistro at Chamberlain, the hotel’s restaurant, offers seating for 52 guests and presents mouthwatering American and California cuisine. Other amenities include a business center and a heated rooftop pool.

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