The Inn at St. Ives is the newest RCI property in Michigan. Situated in Mecosta County in the heart of Michigan, the resort is perfect for outdoor enthusiasts and includes golfing, biking, hiking, hunting, fishing, horseback riding, snowmobiling and snow shoeing. The resort features a full health club, health spa, fireplace, restaurant and snack bar, and conference facilities right on site.
Exclusive Resorts has added 20 new destinations for its members to enjoy around the world. These include six new residences at the ultra-chic Viceroy Anguilla as well as access to luxury villas at 13 leading resorts across Asia and more through an alliance with Banyan Tree Private Collection. The Club has also introduced membership enhancements and premium benefits, including Elite status for members with the United Airlines MileagePlus loyalty program. According to Philippe Bourguignon, CEO, “Today more than ever, the Club offers an unparalleled way to experience the very best the world has to offer. Our unique vacation offering includes hundreds of luxury residences around the globe, a new line-up of once in a lifetime members-only ‘bucket list’ travel experiences each year and VIP access at events such as the Super Bowl and New York City Fashion Week.”
Celebrity Resorts has pulled through its bankruptcy proceedings fully intact and with no job losses. After filing for Chapter 11 bankruptcy protection in early 2010, the Florida-based Celebrity Resorts is back to business as usual with the Florida courts confirming the firm’s reorganization plan.
In a document submitted to the Court, the company blamed their bankruptcy on disagreements between family members that started and owned Celebrity Resorts. As part of the recovery plan, a lending subsidiary of Textron Inc., a multi-industry conglomerate best known as the maker of Cessna airplanes, has agreed to provide Celebrity with $4 million in financing. Celebrity Resorts has 13 properties located in Florida, Nevada, New Jersey, Hawaii, and Colorado.
The Melia Marbella Banus is the newest Sol Melia Vacation Club resort. Located in Costa Del Sol, Spain, the Melia Marbella Banus is surrounded by the best beaches and golf courses in Costa del Sol and is located in the exclusive Puerto Banús area. Just a few miles from the old town of Marbella and less than an hour from the Malaga Airport, the resort offers Sol Meliá Vacation Club members accommodations that include studios for two people, one bedroom suites for up to four people and two bedroom suites for up to six. The Sol Meliá Vacation Club (SMVC) is a leading international vacation membership club with locations in the Caribbean, Mexico, Central America, Europe, and four member resorts in the Canary Islands.
The Weybridge Collection has selected FractionalExchange.com for the vacation exchange requirements of its owners. Headquartered in Chicago, the Weybridge Collection is a unique assortment of residences located in destinations throughout the world. It presently includes five properties in Italy, New Mexico, Colorado, and Mexico. Each one is viewed as a work of art and is available for exchange in two-week increments. The emphasis of Weybridge is to provide a second home experience in locations that have a strong cultural component including art, music, food and wine. The latest property is the Fondo Le Teglie, in the Italian countryside in Umbria. Other properties include Casa Las Artes in Santa Fe and a condominium at the Residences at Snowmass Club in Snowmass Village Colorado.
Timeshare units at this resort in Catskills, New York, face potential liquidation as approved by a bankruptcy court. A bankruptcy judge has ordered the Chapter 11 bankruptcy case of Nottingham Village Development Corporation to be converted to a Chapter 7 liquidation case. Concerned timeshare holders have already sought the help of the New York Attorney General’s Office in clarifying the situation for shareholders. The Attorney General has recommended that a coalition of shareholders pool their resources for legal counsel in the matter, in the event they were unable to individually afford legal fees. The timeshare setback is the latest blow to Friar Tuck’s financial struggles. In April, the neighboring Friar Tuck Inn was repossessed by Ulster Savings Bank, after the same court dismissed its claim for Chapter 11 bankruptcy.
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.
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.
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.
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.
