Timeshare Trends Blog

Starwood Hotels and Resorts Worldwide has reported that revenue from its vacation timeshare and residential sales and services division rose 6.1 percent to $140 million. Expenses rose as well resulting in earnings that were flat with a year ago. Starwood said the number of timeshare contracts signed increase 8.2 percent, but the average price per unit was down 2.7 percent from the same period last year to about $14,000.

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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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Timeshares By Owner (TSBO) has announced record rental offers in March 2011. The leading for sale for rent timeshare advertising company in the nation, announced record timeshare rental offers transmitted in the month of March 2011. Rental offers to its timeshare owner clients were almost $1.9 million in that month alone. The highest rental offer for a timeshare week was $5,000. TSBO’s platform is designed to obtain the maximum number and dollar amount of rental offers to its clients. Detailed, time consuming property searches are not required for vacationers to rent from its clients. TSBO’s timeshare concierge service also makes finding the right timeshare quick and easy for people who may need some extra help finding the location and property that will best fit their needs.

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The Pelican Resort Club recently shut down. Located on St. Maarten, the resort is no longer accepting reservations. According to news reports, the resort has been taken over and renamed Simpsons Bay Resort. Over the last few months, owners have been receiving conflicting emails and mixed messages regarding the status of ownership of the company, foreclosure auctions and employees at the property. Most emails and messages seemed to discuss administrative and management issues, which were unlikely to impact owners. They were not informed of the urgency and the possibility that the resort would close, placing timeshare ownership in jeopardy.

As of now, it is still unclear why the closure was necessary or how long it will last. Some reports indicate that it appears that the closure is merely a scheme to force the unions to negotiate or force union employees out. Reportedly, last December, there was an attempt to fire all union employees, which the courts squashed. When all issues have been resolved, normalcy for Pelican/Simpson owners is expected to return. In the short term, owners planning to use their units over the next few weeks or months may be cut from their reservations. Some reports indicate that owners have not been given the assurance of being able to go to the resort, even while being encouraged to make their mortgage and maintenance fee payments.

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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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The Bougainville Parque Hotel is now an RCI exchange member. The hotel is situated at the world’s largest hydrothermal complex in Caldas Novas, Goias, Brazil. Located just five minutes from the heart of Caldas Novas town, the property features 58 spacious and modern apartments fully-furnished with appliances and furniture that compliments the style and atmosphere of the hotel. The amenities of the hotel include two large swimming pools, a pool bar, a natural pool surrounded by bountiful flora and fauna, and a full restaurant offering authentic Brazilian cuisine. The Bougainville Parque Hotel renovated its timeshare units as part of its new affiliation with RCI. Refurbishment included new beds, flooring, and complimentary high-speed internet connections in every room.

The Bougainville Parque Hotel is the newest RCI exchange property in Brazil. It is located in the world's largest hydrothermal complex in Caldas Novas, Goias.

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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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The Mision del Sol Resort and Spa has been added to the RCI exchange network of resorts. Located in Morelos, Mexico, this affiliation represents a significant milestone in that RCI members will have the opportunity to visit the first ecological paradise in the area of Cuernavaca. The Mision del Sol Resort offers visitors an extraordinary and modern concept in tourism. In one with nature, the property is a green resort built with recyclable materials. Surrounded by flora and fauna and magnificent landscapes, the resort features 40 spacious apartments in one or two-bedroom choices, a paddle ball court, two tennis courts, and a fully equipped fitness center. The resort also offers a Jacuzzi, traditional Temascal steam bath with aroma and music therapy, indoor and outdoor swimming pools, and a sauna space. Moreover, Mision del Sol also offers relaxing mental sessions such as meditation, yoga, Thai Chi, and lectures on spiritual and mental health extensive water park, which is equipped with waterslides and free-fall kamikaze.

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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.

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Disney Vacation Club is imposing new restrictions on buyers who purchase their timeshares from existing owners rather than directly from Disney. Disney Vacation Club, which sells points that can be redeemed for stays in various accommodations, said it will no longer allow owners who acquire their points via resales to redeem them for nights in conventional hotel rooms at the company’s five theme park resorts worldwide, voyages aboard its cruise ships or vacations through its guided tour operation. Such owners will only be allowed to use their points only for stays in one of its eleven timeshare properties or in third party hotels available through exchange operator RCI.

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