Timeshare Trends Blog

Experts continue to paint a bleak picture of the industry’s financing operations as discussed in recent meetings where timeshare executives gathered for the 11th Annual Vacation Ownership Investment Conference recently held at the Peabody Hotel in Orlando.

Not much has changed since the capital markets ceased last fall, making it difficult for timeshares to fund development and sales. The good news is that, after a year, developers have at least adapted to the new conditions. Because of a lack of financing, timeshare developers deliberately slowed sales this year. Total industry sales this year are likely to total between $6 billion and $8 billion, which is equivalent to sales in 2004.

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The Palace Vacation Club of Malaysia has joined the RCI network of timeshare exchange affiliates. The resorts included in the Palace Vacation Club group are the Country Villas Malaysia and the Palace of the Golden Horses.

Country Villas is Malaysia’s first Mediterranean-style waterfront property. It has distinct wall finishings on graceful white facades and unique red-bricked driveways surrounded by beautiful landscaped gardens. The 250 units are tastefully furnished and well-equipped with basic amenities. The property also provides facilities for business and leisure with six meeting rooms, a conference room, a seminar room, a banquet hall, an auditorium, gymnasium and a swimming pool.

The Palace of the Golden Horse is known as Asia’s “Most Extraordinary Hotel” with world-class and award winning accommodations. There’s a dedicated conference center and state of the art facilities with a distinctive Moorish-Malaysian architecture and equestrian theme. The hotel has 400 rooms and 80 suites and offers an outstanding variety of dining and entertainment options. It also offers a comprehensive health screening service, a scenic jogger’s track, an executive fitness center and a luxurious Balinese-themed Jojobali Spa for personal rejuvenation.

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The Azul Sensatori by Karisma resort in the Riviera Maya, Mexico has been added to the Interval International global vacation exchange network. The resort features the innovative Gourmet Inclusive concept that is designed to elevate all-inclusive vacations to quality levels comparable to traditional luxury hotels.

Located in the exclusive Petempich Bay area, Azul Sensatori includes 438 suites with unobstructed views of white-sand beaches, turquoise waters, and lush tropical gardens. The suites feature contemporary designer furnishings, dark wood accents, marble floors, ample living and dining areas and oversized terraces. Guests can enjoy a relaxed yet upscale atmosphere and a host of amenities and services that include dining at six restaurants, a 14,000-square-foot spa and fitness center, a nightclub, multiple pools with swim-up bars, kid’s pool and splash park, a beach butler, concierge and 24-hour room service.

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One of Westgate Resort’s most anticipated vacation ownership properties will be open soon. The Planet Hollywood by Westgate in Las Vegas is putting the finishing touches on this much-ballyhooed project and plans to begin hiring workers soon.

In preparation for the new Westgate Tower opening, the Planet Hollywood held a job fair on July 30. Their plans call for hiring between 600 to 800 workers. Planet Hollywood President, Bill Feather, has said that the hiring for all positions will begin in November.

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One of Wyndham Vacation Resorts most anticipated vacation ownership properties will be open soon. The Wyndham National Harbor sits on a 300-acre waterfront community in Prince George’s County, Maryland, on the banks of the Potomac River.

The National Harbor complex will provide an outstanding vista for Wyndham’s second vacation ownership resort in the Washington, DC area. The resort is being built in an 11-story tower building with 250 units, including 42 presidential suites. The opening is planned for late 2009.

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Recent surveys of the timeshare industry demonstrate continued owner satisfaction. The timeshare industry uses various types of studies to measure timeshare guest or timeshare owner satisfaction. The State of the Vacation Timeshare Industry: United States Study 2009 is prepared by primarily using data provided by the timeshare resorts, timeshare developers, and management companies, through a survey commissioned by the ARDA International Foundation (AIF) and conducted by Ernst & Young LLP.

The study has demonstrated that there is continued owner satisfaction with timeshares. One fact cited by the study point out that 41% of timeshare sales are from timeshare buyers who already own a timeshare with that developer. The AIF report also showed that timeshare resorts were able to add timeshare units and that timeshare occupancy rates have actually increased, with approximately 67% of resorts being at least 80% occupied, and 40% having occupancy of at least 90%.

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The Florida legislature has again trampled on the rights of timeshare owners. The legislature is determined to make it as difficult as possible to resell a timeshare. The reason for this is simple. The timeshare developers have lobbyists, and the timeshare consumer does not!

Let me explain.

Timeshare developers are continuing to sell new timeshare weeks. These weeks can sell for $20,000 or more per week. Their biggest problems are existing timeshare owners who want to resell their timeshare.. Resales can be priced at as much as 50% less than the price the developer charges.

So why would a purchaser want to buy a timeshare from a developer when they can buy the same or a similar property for ½ the price? GOOD QUESTION.

If the timeshare owner buys from an existing owner, than the developer does not earn the profit from the sale. Enter the Florida legislature. They are doing everything possible to make it impossible to resell a timeshare. Does this hurt the consumer? Yes. Does this benefit the timeshare developer and their lobbyists? Yes.

Their latest gambit is to add a retroactive “disclosure” law. This law requires the disclosure of sales and not rentals. Are rentals more prevalent than sales in these tough economic times? Of course. But why have resale companies actually disclose good statistics when that defeats the purpose. The law also imposes retroactive disclosure requirements, and very onerous penalties for non-compliance.

Fairness would dictate that the same “disclosure” requirements would be imposed when the developer “tries” to resell your timeshare (If you think that they will try to resell your timeshare when they are trying to sell their own inventory that they make more profit from I have a bridge in Brooklyn to sell to you.).

Incredibly, the timeshare developer does not have the same disclosure requirement!!

It is time to voice your anger at this outrageous conduct by the Florida legislature.

Please email your support to info@timsharesbyowner.com by signing the following petition that is listed below stating your displeasure with the Florida legislature.

I HEREBY OBJECT TO THE CONDUCT OF THE FLORIDA LEGISLATURE IN TRAMPLING ON THE RIGHTS OF TIMESHARE OWNERS WHO ARE TRYING TO SELL OR RENT THEIR TIMESHARE IN THESE TOUGH ECONOMIC TIMES. I HEREBY DEMAND THE REPEAL OF SECTION 721.20(9) FLORIDA STATUTES.

(Include your name, city and state of residence).

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The Ocean Lakes Family Campground in Myrtle Beach, South Carolina has just been named the favorite campground in the nation’s first consumer service satisfaction survey of privately owned campgrounds and RV parks.

Ocean Lakes is located on 310 oceanfront acres in Myrtle Beach, with more than 80% of their guests being repeat visitors. Nearly 13,000 camping and RV enthusiasts participated in the 2008 online survey, which evaluated guest experiences at independent campgrounds and RV resorts affiliated with the National Association of RV Parks and Campgrounds

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Breckenridge Grand Vacations is on a record sales pace despite the slumping economy and tightening credit in the timeshare industry. Their Grand Lodge on Peak 7 is selling beyond budget projections, and even though they had budgeted $37 million in sales for its new property, it is expected to top $50 million by the end of 2009.

Breckenridge Grand Vacations currently owns and manages the sold out Grand Timber Lodge, and it is now completing The Grand Lodge on Peak 7, located at the base of Breckenridge Ski Area. It will consist of two five-story buildings with 114 units, a restaurant, a large lobby with a piano, and underground heated garage, pools, hot tubs, and more. The Grand Timber Lodge sold out last July with recorded sales of $300 million.

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Orange Lake Resorts has converted additional properties into the Holiday Inn Club Vacations brand, as part of the marketing agreement that the Orlando timeshare company worked out with InterContinental Hotels Group PLC last year.

The Orange Lake properties in Panama City, Florida; Lake Geneva, Wisconsin; and Ascutney, Vermont have all adopted the Holiday Inn Vacation Club brand. In addition, Holiday Inn Club Vacations has added two new timeshare resorts to its portfolio The two latest destinations include the South Beach Resort in Myrtle Beach and the Crown Park Resort in Gatlinburg (to be renamed the Smoky Mountain Resort) bringing the total number of timeshare resorts operated by the company to six.

The Orange Lake Resort near Disney World is the flagship Holiday Inn brand resort. Holiday Inn Club Vacation owners also have access to the more than 4,000 RCI resorts and more than 4,100 Holiday Inn hotels in 120 countries

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