Timeshare Trends Blog

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.

Bookmark To:

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.

Bookmark To:

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.

Bookmark To:

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.

Bookmark To:

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.

Bookmark To:

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.

Bookmark To:

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.

Bookmark To:

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.

Bookmark To:

The Tivoli Lodge in Utah is now managed by Gemstone Hotels and Resorts, a luxury management company based in Utah. The Tivoli Lodge is a four-star luxury ski resort located in Vail, Colorado. Originally launched in 1968, Tivoli Lodge reopened in 2006 following the demolition and rebuilding of the property into a state-of-the-art facility. The Tivoli Lodge is located at 386 Hanson Ranch Road, right on the main pedestrian thoroughfare, on the Free Town Shuttle Bus Route and less than a block from the Vista Bahn chairlift, the town’s main access point. Additionally, it is situated just a short walk away from GoldenPeak and the Riva Bahn chairlifts. Amenities include a business center, fitness center, ski valet service, two outdoor mountain view hot tubs, and the Brown Hound Lounge & Bar, a place where guests can sample the hotel’s signature drink, Indini. Rooms at the property offer a choice of mountain or village views and are all equipped with fireplaces, custom leather furnishings, granite countertops, complimentary high-speed wireless Internet access, Turkish bath towels and robes and large soaking tubs.

Bookmark To:

Tempus Resorts and some of its affiliated companies have already filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Middle District of Florida in order for the acquisition to start immediately. Diamond Resorts is known as one of the most successful vacation ownership companies in the world. Its global headquarters is located in Las Vegas, Nevada and it has more than 177 branded resorts in over 26 countries, including the continental United States and Hawaii, Canada, Mexico, the Caribbean, Europe, Asia, Australia and Africa. It offers properties to more than 385,000 owners and members through the service of more than 5,500 team members worldwide.

Bookmark To: