Timeshare Trouble

The word "timeshare" has a history that should make politicians, especially Florida's, stop, look and listen before changing any of the rules. The Legislature did hardly any of that before voting to exempt registered travel clubs from the timesharing laws, failing even to notify the agency that enforces them. That could spell bad news not only for some potential travel club customers, but for condominium owners who thought they were protected against short-term rentals of neighboring units. The poor process and the questionable outcomes deserve a veto by Gov. Jeb Bush.

The legislation, CS for SB 1520, originated as a noncontroversial package of changes sought by the Department of Agriculture and Consumer Services. Early in the process, lobbyists for a posh travel club run by Steve Case, the former America Online chairman, had it amended to say that timesharing regulation would not apply to a travel club that does not offer its members an ownership interest or a fixed right to use a particular property. Although there was no objection from the Agriculture Department, which regulates travel clubs, no one seemed to care how this would erode the authority of the Department of Business and Professional Regulation, which polices the timeshare industry. The timeshare industry took alarm only on the session's last day.

The timeshare lobby, which includes such heavy political hitters as Marriott, Hilton and Walt Disney World, is now urging Bush to veto the bill. So is Orange County Mayor Richard Crotty, a former legislator, who wrote the governor that "deregulating in such a haphazard way is against the interests of the consumer and threatens our economy." Some of that clamor may be more competitive than altruistic, but there is also a strong concern that corrupt speculators who were run out of Florida's timeshare industry years ago could find their way back in through a door the Legislature intended only for reputable companies with wealthy clients. The timeshare laws are far more strict and comprehensive, especially as to financial security, than those applying to the travel industry.

The "travel club" lobby also makes no secret that the bill would give them a way around laws and regulations that inhibit condominium developers from selling units to timeshare promoters. Legislators who gave no thought to that should expect to hear from the condo associations.

Though it admits to concern, the Department of Business and Professional Regulation maintains that any problems with the legislation could be corrected next year. But no one should take for granted what the Legislature might do. As nothing else in SB 1520 appears to be urgent, the governor's wiser choice would be to veto it.

New Guidelines For Timeshare Sales

Several reports have reached the Belize Tourism Board (BTB) office regarding Time Share Operators (TSO) on Ambergris Caye. Complaints were of tourists getting beleaguered by TSO’s when they were enjoying their relaxing vacation on “La Isla Bonita.”
On Thursday, December 8th, 2005, representatives of the various TSO’s met with Lloyd Enriquez, Registrar of Hotels and Tourist Accommodation, police officer and members of the San Pedro Town Council to come to an amicable resolution. During this important meeting, the Off-Premises Contact (OFC) was thoroughly discussed and the following were the conclusions reached:

All TSO were asked to cease and desist from soliciting time share sales in public areas, which means no soliciting on the streets or beaches, effective immediately.

The second resolution reached was that all TSO’s need to apply for a trade license for their respective time share booths at the San Pedro Town Council. These booths will be confined to private properties or buildings and no licenses will be granted for booths residing in public areas. The San Pedro Town Council will embark on this feat to ensure that all unlicensed booths be removed from the streets of San Pedro Town and that the proper procedures regarding trade licenses are followed.

With regards to the issuance of a license under the Hotel and Tourist Accommodations Act, Chapter 285 of the laws of Belize, these stipulations will compromise part of the terms and conditions of said license. Application must be received for the licenses prior to December 31st, 2005.

These agreements will outline the terms and conditions of the Time Share Operator’s License issued by the BTB. Although TSO were given the opportunity to police themselves according to the regulations, enforcing these laws will be the San Pedro Town Council, Belize Tourism Board and the San Pedro Police Department. Any TSO who breaks said regulations will be faced with penalties, ranging from issuance of violation tickets, suspension or cancellation of their license to operate and the complete closure of the property.

TSO’s present at the meeting were The Villas at Banyan Bay, Captain Morgan’s Vacation Club, Aquamarina Suites, Seven Seas Resort, Costa Maya Reef Resort and the Belize Yacht Club (Island Club Resorts).

How I Almost Turned Into A Time-Share Sucker

MY FAMILY AND I just got back from Sedona, Ariz., land of piñon-juniper forest, redrock spires, and vortexes said to be spiritual. The only vortex we found, though, was the one our credit card number went into.

We headed down to the self-proclaimed "New Age" capital of the West, thanks to a friend who gave us a free three-day stay at a resort. All we had to do was sit through a short sales pitch for the timeshare program.

Our show began at 9 a.m. on the second day of our stay. Along with another dozen-or-so freeloading couples, we were herded into a room with expansive windows looking over a courtyard backed by the area's trademark sandstone monoliths. As we entered into the room, each couple was ushered by a sales person to a small, round table. Once there, like an orchestrated military movement, the sales pitches began all at once.

Our personal sales agent was Travis. He was a nice guy. Young. Intense. Good at what he did. And what he did for an hour and a half was make us understand why we, as a traveling family, would be morons and child abusers for not buying into this program. He then brought out a personal photo album of him and his pretty fiancee in Hawaii on their own recent timeshare excursion.

"Don't you want to spend quality time with your kids?" he concluded with the sincerity and intensity of a minister.

Yes. I did. Right then, in fact. But our kids were back in the room gorging themselves on sodas, snacks and TV. Around me, chatter filled the room, dense and energetic. "Buy today -- buy today -- buy today."

Buy today, Travis continued, urging us, doing us a huge favor, because there were extras being offered right now and only now; in fact if we were to leave this room, the only thing we'd ever again be eligible for was the standard package at the retail rate. Corks popped around us as other couples signed on the dotted line and celebrated with little bottles of champagne.

It may have been the excellent and endless free coffee setting fire to my cerebral cortex, but -- there was an alluring reasoning unfolding here. At its best, this time-share deal seemed a brilliant, albeit for-profit, worldwide commune, a kind of capitalistic socialism for travelers.

Of course, at its worst, it was $14,000 worth of advance hotel reservations. But Sarah and I couldn't get enough space alone to discuss these concerns because Travis kept interrupting our deliberations with sweeteners: Two free airline tickets? A free week of lodging? No fees the first year? And more coffee?

Our kids called our cell phone. How much longer would we be?

"Just a few minutes," I whispered gruffly into the phone, feeling the "average to high stress" Travis had scribbled secretly, yet clearly, on the top of the interview form, about us, I assumed.

"They sound like great kids," Travis cooed, as I pocketed the phone and sat back down.

IT SOUNDS INSANE NOW, but before we left that room we put a fat deposit on our credit card. Actually it sounded insane then, too. And so that night was one of tense, awkward hours filled with a mildly psychotic blend of giggling and soft whimpering. Finally, we called a lawyer friend who, after he stopped laughing, did some quick research and found that Arizona has a seven-day contract rescission law, just for suckers like us. It should even be written into the contract, he added.

We looked again. It was. Right above our signature.

Right then I understood how old folks get swindled out of their savings. How kids get sucked into cults. How 25 years earlier I had gotten conned out of my money after only 15 minutes in New York City. How skilled salespeople make their living.

Still, it's hard to blame Travis and his time-share shilling compatriots.

We signed the contract, willingly, earnestly. I'll admit that I even feel some admiration for Travis. He was good at what he did. And I know my wife and I learned some helpful, important lessons about ourselves and the big scary world out there.

Given those positives, maybe this predatory hard-sell has a function in natural selection. Maybe these time-share sales people are like hyenas or dingoes, performing their own Darwinian culling of the dumb, the weak and the confused from the economic herd, and thereby strengthening the survivors.

Maybe. All I know is, I hope my wife and I evolved.

Accor Expands Timeshare In Indonesia

ACCOR Hotels and Resorts has signed a string of "opportunistic" deals in Indonesia and will open five new hotels there next year.

The move confirmed Accor's position as Indonesia's fastest-growing hotel chain, said Accor's Asia-Pacific managing director Michael Issenberg.

"Most of our international competitors aren't really that interested in Indonesia, outside Jakarta and Bali, and we have a very extensive network and believe this is a good opportunity," he said.

Accor's timeshare arm also has announced its first property deal outside Australia and New Zealand. It will spend $5.3 million developing 23 apartments in Bali.

The Queensland-based timeshare company, Accor Premiere Vacation Club, is jointly owned by Melbourne-based listed developer Becton Property Group. APVC has been aggressively buying luxury and boutique-style apartments and villas around Australia in the past year.

Developing the property in Bali was "very much about satisfying the requirements of the Australian members" of APVC, Mr Issenberg said.

The apartments would be part of the new Novotel Residence at Nusa Dua in Bali, which is scheduled for completion mid next year.

Under Accor's new hotel management agreements - mostly for 10 years - Accor will add two Novotels and three Mercure hotels to its stable, bringing the number of hotels the company runs in Indonesia to 38. It aims to have 50 there by the end of 2007. As well as the Bali Novotel, the other properties are Novotel Tarakan (175 rooms), Novotel Bandung (150 rooms), Mercure Batam (160 rooms) and Mercure Surabaya (110 rooms).

All are new developments, except the two that will become Mercures, which are being taken over from local operators.

Accor had pioneered the establishment of international hotels in the regions of Indonesia, Mr Issenberg said. "These provincial destinations are popular with domestic and intra-Asia travellers visiting on business or for leisure and have proven strong performers in recent years," he said.

Negotiations on the latest deals had begun before the Bali bombings in October, but Accor did not hesitate to proceed with the agreements, he said.

Timeshare May Drive Loyalty

A survey shows timeshare can help hospitality companies in achieving greater consumer loyalty

In a society where customer loyalty is harder than ever to achieve, research released today by Interval International and De Vere Resort Ownership (DVRO) shows that timeshare can help hospitality companies come closer than ever to that elusive loyalty “X” factor.
The survey, which was polled throughout November 2005, takes a look at the phenomenal growth of timeshare and why, once people have bought into the concept, they frequently opt to purchase again and again.

DVRO, the UK’s leading luxury timeshare operator, has benefited greatly from its loyal customer base.

With a portfolio of three five-star resorts in the UK, soon to be four with the advent of The Carrick by Cameron House on Loch Lomond, DVRO has sold some 8,000 weeks to 6,400 individuals, giving an average ownership of 1.25 weeks.

Whilst most owners buy only one week to start with, Cameron House and The Carrick have proved the most popular destinations for multiple purchases with some families owning up to eight weeks.

Interval International and DVRO’s “X Factor Survey” takes a look at just what timeshare brands do to make happy customers into loyal ones, and how this loyalty can have a strong ricochet effect onto other associated products.

It seems that the sense of belonging is key to the cracking the loyalty factor, with respondents giving high scores to issues such as “feeling like part of an exclusive club” (63% agreeing or strongly agreeing); “feeling like a second home” (57% agreeing or strongly agreeing) and “I get treated like a friend not a customer” (62%).

This sense of ownership amongst DVRO owners translates into advocacy of the brand in all its manifestations, as well as into associated brands, such as Interval International, which has an exclusive relationship with DVRO.

Of those surveyed nearly 80% of respondents stated that they would seek out De Vere branded hotels and resorts in preference to other brands for non-timeshare related purposes. Indeed, 68% preferred to use De Vere hotels wherever possible for pleasure, 33% used De Vere mixed-use amenities such as spas/golf, even when not holidaying at their home resort and 14% opted to use De Vere hotels for business.

Reasons for loyalty to the De Vere Brand are manifold, but “getting the mix right” is critical to success.

Customer service (73% rating as highly important or more); luxury surroundings (66% agreeing or strongly agreeing), exceeding expectations (77% agree), the flexibility to exchange to other resorts around the world (51% agree) all demonstrate just how much the extras add loyalty value.

The other part of the picture for owners is the attention to detail De Vere puts into the resort. 83% think the architectural values are very good or excellent; 87% think the fixtures and fittings are very good or above and 89% think the resort surroundings and environment are very good (with 27% of this figure rating them unbeatable).

Whilst most owners buy only one week to start with, for De Vere all of these have translated into happy, and more importantly, loyal customers. With 68% using De Vere’s mainstream hospitality brands out of preference; 37% hoping to purchase further timeshare and 22% already having purchased further timeshare, De Vere has the holy trinity of quality, location and detail exactly right.

Craig Mitchell, managing director of De Vere Resort Ownership Ltd, says: “I would say that from the off the De Vere association engenders a greater confidence among consumers in terms of the expected quality of the surroundings and the overall holiday experience. De Vere is a credible brand with a reputation for luxury accommodation and service.

“Most of our staff know the owners on first name terms having dealt with them from day one and, because we make it our business to deliver a five-star holiday experience, our owners have a five-star holiday experience … to the point that so many feel a great sense of belonging to the resorts and the De Vere brand.”

Loyalty for the De Vere brand has not only had a ricochet effect onto other De Vere brands, but onto its other timeshare partners.

Interval International, which is the exclusive timeshare exchange partner to De Vere, has exceptionally high ratings amongst De Vere owners, with 52% using the exchange facility and 70% positively looking to renew their membership.

“We expected a good response to the survey, however the response has exceeded our expectations. I think this just goes to demonstrate the pride in ownership that timeshare owners feel, especially with high-quality resorts such as De Vere’s.

This pride has a fantastic knock on effect to our own brand, and as such we will continue to support brands such as De Vere which add so much to our industry,” comments David Clifton, managing director, Europe, Middle East, Africa and Asia.

Donate Your Timeshare.

Vacation timeshares usually sound like a good deal in the beginning, but often the shine wears off after a while. They can be costly, with maintenance fees, taxes, and the like, and if you want to try a different timeshare or week, it can be difficult to switch with someone else. Adding insult to injury, once you decide to sell, you may find the process expensive and time-consuming. If any of this sounds familiar, you may want to donate your timeshare to your favorite charity.

Donateforacause.org will sell your timeshare and donate the profits to your favorite charity. It costs nothing for the charity, and you get a simple, fast, and socially-responsible way to get rid of your timeshare. You may be surprised to learn that often, donation makes the most financial sense.

So if your timeshare is more trouble than it's worth, consider donating it to your favorite charitable cause. You'll support work that you admire and get a tax write-off to boot!

Cage & Smith to "TimeShare" Together

"Mega-stars Nicolas Cage ("National Treasure") and Will Smith ("Hitch") will co-star in the comedy "Time Share," says Variety. The pitch from newcomer Mark Steilen sold for a pretty penny at Columbia Pictures, and the story deals with "two fathers who lock horns when they discover their families are booked into the same timeshare residence during what should have been their dream vacation."

Marriott Starts Second Phase Of Ko Olina Timeshare Project

Marriott Vacation Club International began construction on the second phase of its time-share project at Ko Olina last month.

The new construction, at the resort's lagoon three, will feature 91 two- and three-bedroom apartments. They will be built by December 2005.

Ko Olina Beach Club is Marriott's best-selling time-share project set to be completed 2016. At build out, it will feature 750 units.

Marriott's Ko Olina Beach Club, designed by Architects Hawaii, is Marriott's first vacation ownership resort on Oahu and fourth in Hawaii. Others include Waiohai Beach Club on Kauai, Kauai Beach Club and Maui Ocean Club.

"Marriott's time-share business reported 16 percent higher contract sales for the full year of 2003; sales were particularly strong at time-share resorts in Aruba and Hawaii," said Robert Calhoun, regional vice president of Marriott Vacation Club International for Hawaii and Asia.

Survey Finds Steamboat Timeshare Vacancy Among Highest

Steamboat Springs last fall had one of the highest timeshare rental vacancy rates in Colorado, according a survey released last week by the Colorado Division of Housing.

The study, based on surveys completed by 265 local property managers and owners, showed a 10.6 percent vacancy rate in multi-family rental housing with two or more units.

The statewide timeshare vacancy rate was about 8.6 percent.

"I would say that's probably fairly accurate," said Mary Weiss, owner of Central Park Management, which has participated in the study in the past.

She noted that the survey was taken at the tail end of what's typically a slower rental season. Weiss said she expected nearly all her units to be occupied through May, and summer vacancy rates can range anywhere from 8 percent to 20 percent.

Still, the September vacancy rate was significantly improved from February, which showed vacancy at more than 16 percent, according to data from the Division of Housing.

That perplexed Shannon Peterson, property manager for Big Country Residential Housing, who said all of her timeshare properties were rented last February.

Big Country manages more than 170 long-term rental homes and apartments, including The Ponds at Steamboat, employee housing for the Steamboat Ski and Resort Corp.

In the summer, that and other housing fills with construction and landscaping workers, Peterson said.

"I do not have a slow season," she said.

Peterson and Weiss were somewhat surprised by the median rental cost reported in the survey. Steamboat's was about $680 per unit (not including utilities), and the median rent in Eagle and Summit counties were about $1,067 and $917 ,respectively.

"That's very low," Peterson said about the Steamboat median, noting that she sets her rates about $1 a square foot for unfurnished units.

The transient nature of Steamboat's resort economy is among factors to consider when looking at vacancy rates, Weiss said.

"The rental market in this community is really driven by the working class," she said, noting that people who rent typically are 35 or younger and either stay in Steamboat and purchase a home or leave the community.

The availability of worker visas and the transition of rental properties from short-term or nightly rentals to long-term rentals also can influence vacancy rates, Weiss said.

The Division of Housing does not count nightly rental properties in its survey.

The strength of local industries likely affects vacancies, said Kathi Williams, director of the Division of Housing.

After Sept. 11, for example, much of the state saw double-digit vacancy rates, indicating companies weren't hiring as many employees, she said.

In Steamboat, however, vacancy rates after Sept. 11 did not reach double digits until 2003, when the rate jumped from about 2 percent to more than 11 percent, based on the surveys.

Low mortgage rates likely contributed to that, Peterson said.

"If people can afford to get into a mortgage, they'll buy," she said.

Steamboat is among 17 major market areas included in the surveys, which the division conducts each September and February.

Steamboat's vacancy rate was the highest among resort areas in the survey; Eagle County was at about 5 percent, and Summit County's vacancy rate was almost 8.5 percent. Aspen's 2 percent timeshare vacancy rate was among the lowest in the state.

Steamboat differs from other resorts in that more land and development opportunities are available near town, Williams said.

"You can have workers commute and look for less expensive housing," she said.

The Division of Housing conducts the surveys to gauge housing balances or imbalances in the state, Williams said.

Although it is difficult to generalize, a 5 percent vacancy rate is considered to be an "equilibrium rate," according to the survey.

"When we see double digit vacancy rates, we know that it's not a time to build new units," Williams said.

Instead, the Division of Hous�--ing encourages communities and developers to upgrade existing units and convert units to affordable housing.

The division offers low-interest loans to developers and grants to nonprofit organizations for that purpose, she said.

Amend Timeshare Act, Swan Urges Government

Opposition Senate leader Kim Swan again urged Government to get on with amending the Timeshare Act.
Timeshare owners who bought years ago are worried they might lose their property as their 25 year leases are up this year.
He said Government had been promising law changes since 1999 but had done nothing and were now saying they didn’t want to rush into hasty legislation.
He said: “We have seen the Minister for Tourism of Transport – when he wants to do something he gets on with it, irrespective of public opinion.”
Speaking in the Senate’s motion to adjourn yesterday Sen. Swan said: “Those who made the ultimate commitment to Bermuda by purchasing multiple weeks were given the impression this matter would have been dealt with sometime ago.”
But he said the earliest it would be done would be three or four months down the line.
“It will do further damage, this Government is procrastinating.”
Sen. Swan also spoke about the need to clamp down on beggars, particularly those who intimidate people by gripping or blocking them.
He also complained about Government not giving notice about changes to the Bail Act made since the House session before yesterday’s sitting.
Senate leader Larry Mussenden said notice had been given to the Opposition spokesman on that area but he agreed temporarily withdraw the bill until today’s sitting.
Today Senators will also discuss the Criminal Code Amendment Act which aims to bring in automatic three year prison sentences for those caught carrying knives and weapons in public without reasonable excuse.

Timeshare Adventures Announces the Release of the Timeshare Industry’s Largest Interactive Resort Directory

The vacation industry entered new waters today when Timeshare Adventures went live with a free access service which will change the way in which prospective purchasers evaluate timeshare vacation resorts with which they are not familiar. This service provides an inside assessment of more than one hundred resorts and operators, details about the surrounding areas and identifies local places of interest to visit. Several will be added each month with the directory ultimately containing more than two thousand resort destinations.

"We started this new project to help our clients get a 'feel' for an area or a resort they had never visited," said Timeshare Adventures founder and CEO Mark Dann. "We wanted to give people a user-friendly resource that would answer questions about the facilities at a resort and tell them about the history and culture of the surrounding area. We wanted to make it accessible to everybody with an Internet connection. You just need to go to Timeshare Adventures. You don't have to visit six or seven different web sites, write away for brochures or rely on a description over the phone to get independent information about a resort area anywhere in the world. And each resort in the directory," Mark went on to say, "will feature a multimedia presentation, with a streaming video and photographs of the resort and/or the surrounding area. This adds a unique interactive aspect to the directory and helps make it the most dynamic and exciting resource of its type available online."

About the Company

Timeshare Adventures is a full service timeshare resale and rental agency with a staff of professionals who have had over 30 years of collective experience in the industry. The company assists clients who want to rent, sell or buy a resale timeshare.

"We have always been the innovators in this industry," said operations manager Helen Dann. "We are the only timeshare reseller that I know of with an in-house legal department supervised by our own lawyer. That's how we can offer free legal services for both the buyer and the seller and make sure sales are successfully completed. Typically, a buyer incurs closing costs in excess of $500.00 for attorney's fees, recording costs, and other out of pocket expenses. With our in house attorney, we absorb the cost of attorney services and the first $50.00 of recording fees and taxes, saving a buyer those costs and making properties offered by us that much more attractive to buyers." Helen said.

Hyatt To Open On Time, On Budget

Almost half of the nearly 1,000 shares available in the new Hyatt Grand Aspen have been sold as the resort’s newest hotel prepares to open its doors a week from today.

The sales mark is one Hyatt executives were shooting for when the first timeshares in the Hyatt Vacation Club property went on the market nearly two years ago.

“We’ll be just under half sold by the time the doors open,” said Larry Shulman, vice president of Hyatt Vacation Ownership.

In fact, the Hyatt Grand Aspen has been the fastest selling property in the history of Hyatt Vacation Ownership, which now includes 12 resort properties, Aspen among them.

But if there has been a surprise in the development of the 50-suite timeshare hotel where the old Grand Aspen Hotel once stood on Dean Street near the base of Aspen Mountain, it hasn’t been on the sales end.

“We’re actually going to finish it on time and on budget,” said Shulman, dispelling rumors to the contrary.

The Hyatt is scheduled to welcome guests who have purchased holiday weeks in the suite of their choice on Saturday, Dec. 17, Shulman said.

“We will make our date, but I’m sure we’re going to burn some midnight oil getting it done,” he said.

A staff of 70 or so employees, to be overseen by general manager Vic Giannelli, has been hired. Meanwhile, a dozen or more Hyatt managers, including some from other Hyatt properties, are on hand to make sure the Aspen hotel is ready to go.

They’ve been working alongside up to 150 construction workers who are pushing the project toward completion.

Next weekend, the Hyatt will unveil what amounts to a five-star hotel in terms of its service, according to Giannelli.

The hotel won’t be quite full for Christmas, though.

Shares were sold in four phases and the fourth and final phase, put on the market in September, promised occupancy in 2006, leaving 13 suites that weren’t sold for Christmas 2005.

It was in response to demand that the fourth phase went on the market this year, Shulman added.

“We had not anticipated putting more than the first two phases up for sale prior to opening,” he said.

Buyers purchase a set week in a specific unit from among 20 peak weeks in the summer and winter. They are also guaranteed 10 floating days that can vary from year to year during the unassigned weeks.

Prices vary based on the size of the unit and the chosen week (Christmas/New Year’s packages sell for more). There are some one-bedroom suites and one four-bedroom residence; the bulk of the suites are two- and three-bedroom units.

Early on, developers touted the hotel as an Aspen vacation property that would be accessible to the middle class, and Shulman said the Hyatt has lived up to that claim.

On the low end, a share in a one-bedroom suite sold for less than $85,000 when sales began; it is now going for slightly less than $100,000, according to Shulman. Larger units are now in the mid-$300,000 range.

The single highest-priced share, in a four-bedroom, four-and-a-half-bath suite that includes two weeks during the Christmas/New Year’s holiday plus 20 other days, went for almost $1 million.

“We sold that product literally 15 minutes after we released it,” Shulman said.

Hyatt Opens Timeshare Sales In Aspen

Hyatt Vacation Ownership Inc. of Chicago has officially launched sales of a new timeshare property under construction in Aspen, the 51-unit Hyatt Grand Aspen Resort.

Preliminary sales already have raked in $35 million.

Located at the base of Aspen Mountain close to the gondola, the property will offer 30 three-bedroom units, 19 units with two bedrooms and two one-bedroom options. The spaces will range from 1,000 to 2,600 square feet in size.

"The location speaks for itself ...," John Burlingame, Hyatt Vacation Ownership executive vice president, said of the Aspen site in a statement.

Depending on time of year, most unit prices range from $80,000 to the high $200,000s. A penthouse taken at Christmas or New Year's can cost in the high $700,000s.

Most packages include 10 "best days" in winter or summer, plus 10 floating days at unassigned times.

"There's a huge variance between summer and winter," said Hyatt spokeswoman Angie Sell.

Ground recently was broken on the Hyatt Grand Aspen Resort, and the property is scheduled to open in December 2005.

Hyatt already owns and operates 10 timeshare properties nationwide, two of them in Colorado -- the Hyatt Mountain Lodge in Avon near the Beaver Creek ski area and Hyatt Main Street Station in Breckenridge. Another property, the Hyatt Wild Oak Ranch in San Antonio, Texas, also is being developed and will start sales soon.

Timeshare Owners To Have Vacation Guarantee

Avant Insurance Managers, an insurance management company dedicated to developing risk protection solutions for the timeshare industry, has introduced a VacationGuarantee™ program. The VacationGuarantee program, which has been in development for several years, will be offered on an annual basis through selected developers, homeowners’ association, and the Internet.

"I’m delighted the way is now clear to offer this product," says Jeff Post, Avant’s president. A 2004 federal lawsuit filed in a Nevada district court had forced Post to delay the product’s rollout for nearly a year, but U.S. District Court Judge Roger L. Hunt in December rendered a directed verdict in Avant’s favor, saying the suit had no merit. "The court recognized Avant as the concepts’ originator, and now we can get back to the business of providing a valuable insurance program to timeshare associations and their owners," Post says. "The Asian tsunami and last fall’s Florida hurricanes have underlined the urgent need for this program."

VacationGuarantee coverage protects timeshare and fractional owners from loss of ownership and travel expenses any time they have a confirmed reservation through their resort, club, or exchange company. VacationGuarantee coverage includes trip cancellation and interruption insurance, and owner legal liability features, plus many other benefits. Available coverage includes emergency road service, baggage, unit owner property, as well as sports equipment, such as golf clubs and skis, which is usually excluded from travel insurance products. Premiums for minimum core coverage start at $39 per week of ownership.

Starwood To Bring Timeshare To North Shore

Leaders of Starwood Vacation Ownership (SVO), the timeshare division of Starwood Hotels & Resorts Worldwide, Inc., took a first step Tuesday to becoming a Kaua‘i timeshare presence with a groundbreaking ceremony on 18.5 acres of land at Princeville.

This project will be company leaders' third timeshare entity in Hawai‘i. Starwood officials earlier announced plans for a 258-unit development in Maui, adjacent to their 280-unit Westin Ka‘anapali Ocean Resort Villas.

The ceremony for their newest Hawai‘i resort, The Westin Princeville Ocean Resort Villas, came several days after a groundbreaking ceremony at the $115 million Ka‘iulani of Princeville, a 77-unit development located on a bluff with expansive and dramatic views of the Pacific Ocean.

David Matheson, spokesperson for SVO, said no interval prices have been set for the timeshare units.

"There will be no sales for a couple of months," he said, adding that Hawai‘i is a very good location for a timeshare product.

He said all three were built for timeshare. However, in the course of the sales, some of the inventory will be used for transient guests. He said this is typical for a new resort.

He said the percentage of timeshare to other usage would depend upon emerging buyer choices.

Matheson said the approval of the project required a Class IV use permit. He said this was an approximately-two-year process which culminated in December 2004, after a series of public hearings. The last resulted in county Planning Commission approval of the permit, he said. "We are now in the final stages of processing the customary construction permits," Matheson said.

"We have not yet set prices for timeshare intervals or rentals," Matheson said.

The mixed-use resort (time-shares and rentals) includes a two-story clubhouse and seven two- and three-story guest buildings, with 179 timeshare villas and six hotel units.

The first units are scheduled to open in June 2007.

A spokesperson in the county Planning Department confirmed that the project received full approval from the Planning Commission.

"Starwood Vacation Ownership has a long and positive history in Hawai‘i, and we continue to build a strong relationship with our neighbors in Hawai‘i," said Raymond L. "Rip" Gellein, Jr., chief executive officer of Starwood Vacation Ownership, Inc.

"The Princeville community is one of the most storied and respected in all of Hawai‘i, and we are excited to be a part of its future with the first Westin-branded timeshare in Kaua‘i."

Kahu Nani Hill presided over a traditional ground-blessing ceremony held prior to breaking ground on the new resort.

Matheson said he did not have specific figures as to how many people might be employed.

Findings from the 2003 Hawaii Timeshare Industry Overview and Economic Impact Analysis Prepared by KPMG, LLP with the Assistance of SMS Research in a survey for the American Resort Development Association (ARDA) concluded:



Hawai‘i's vacation-ownership inventory has increased dramatically. Since 1999, Hawai‘i's timeshare-unit inventory has grown by nearly 1,100 units, or more than 23 percent, to 5,666 units;


Timeshare is aiding a growing diversification of Hawai‘i's visitor industry. Timeshare accommodations are equivalent to 8 percent of the state's 71,000 visitor units (compared to about 6.5 percent in 2000);


More-even distribution of new timeshare projects on all four major islands. The recent growth of the state's inventory has resulted in new resorts translating to roughly comparable market shares of 18 percent (23 percent for the City and County of Honolulu and Hawai‘i county, and 28 percent to 33 percent for Kaua‘i and Maui counties).

More than 2,500 new units are currently proposed and due to be delivered in the next five to 10 years.

Timesharing in Hawai‘i is a half-billion-dollar industry. Total timeshare sales in 2003 were an estimated $538.9 million, with approximately 18,200 intervals sold (average price of $27,200).

The proportion of California owners has declined, while the proportion of owners from other regions of the country have increased, according to the KPMG survey.

Also participating in the ceremonies were Kelly Hoen, general manager of the Starwood-managed Princeville Resort (hotel), and Keith Vieira, senior vice president and director of operations, Starwood Hotels & Resorts Worldwide, Inc.

On behalf of SVO, Serge Rivera, president and managing director of real estate development, presented a check to leaders of the Kauai Taro Growers Association, in commemoration of the blessing of the new project.

"We're very pleased to have Starwood Vacation Ownership become a member of the Kaua‘i community. The project will bring valuable jobs and revenue to the island, along with enhancing our tourist industry," said Mayor Bryan J. Baptiste.

New Shape For Europe’s Timeshare Sector: Fresh Models And Higher Quality Products Are Changing Perceptions And Driving Demand

New research from PricewaterhouseCoopers shows that the timeshare industry is changing with increased interest from branded hotel groups, a greater focus on mixed-use developments and higher quality, more regulated products stimulating fresh interest from consumers.

While analysts and practitioners broadly agree that the old-style, mass market timeshare product is static, demand for higher-quality, branded products and new styles of timeshare such as fractional ownership and condo hotels is strong.

Liz Hall, Hospitality and Leisure research manager, PricewaterhouseCoopers commented:


“Although the timeshare industry in Europe has not provided the investment returns and industry growth predicted 10-15 years ago, it clearly has a role to play in leisure development.
“Increased regulation, more experienced operators and a more informed public have all contributed to changing perceptions and fostering growth in the timeshare sector.
“You just have to look at the increased investment from the branded hotel chains to realise that the sector is quite buoyant at present.”

The research, published in PricewaterhouseCoopers latest ‘Hospitality Directions – Europe Edition,’ examines the timeshare sector in Europe including new business models, market trends, owners, the resorts, key players, the rationale for investment and typical financial profiles as well as key issues and future outlook.

It reveals that factors helping to change perceptions of timeshare include:

New product models: the timeshare industry now encompasses fractional ownership schemes, private residence clubs, points clubs, condo hotels and partial hotel conversions as well as ‘classical’ timeshare schemes, allowing developers and purchasers a greater selection of opportunities.

New players: the involvement of some of the major branded hotel companies such as Hilton, Marriott, Disney and Starwood in the US has helped raise the profile and credibility of the sector. In Europe, branded hotel groups are also entering and/or expanding their activities for example, Macdonald Hotels & Resorts, De Vere Resort ownership and Sol Melia.

Liz Hall, Hospitality and Leisure research manager, added:


“Many hotel companies have changed their position from regarding timeshare as a threatening competitor to looking at timeshare as an increasingly attractive means of raising additional revenues.”

Despite the renewed interest in the timeshare sector, the research expects steady rather than rapid growth for the sector over the next five years, which is in line with overall travel and tourism growth rates.

Key findings of the research for the timeshare sector in Europe include:


1,450 timeshare resorts
3.75 million weeks of accommodation
1.3 million timeshare owners in Europe in 2001 (latest available
data)
fewer timeshare owners in Europe now than four years ago
branded hotel groups now entering the market
quality standards are rising
perception of the industry is changing
new models being developed
regulation is a key issue and is helping improve the industry

Timeshares Are Hitting The Morning Talk Show Circuit Around The Country.

Timeshares recently became a hot topic on morning television talk shows across the country. Angela Courte, Vice-President of Public Relations at Timeshares Only in Orlando, Florida, appeared on several morning TV talk shows over the past few weeks on NBC-affiliated stations in Atlanta and Cleveland while Lou Courte, President of Timeshares Only, appeared in Denver and Sacramento. Discussing the advantages of vacationing in timeshare resorts as opposed to traditional hotel accommodations, Angela Courte expounded on “the benefits of buying, selling, and renting timeshares on the secondary market.”

Timeshare resorts provide amenities that make a stay more remarkable than a visit to a typical hotel chain. Located in popular destinations across the United States and around the world, timeshare resorts offer vacation experiences ranging from active adventures to quiet retreats. Most timeshare units contain luxurious bedrooms, kitchen facilities, Jacuzzi tubs, and lavish accommodations. The plush timeshare resorts include amenities such as pools, water parks, golf courses, ski slopes, day spas, and so much more. Additionally, many timeshares grant options that vary staying in the same resort year after year with exchanging weeks to travel the globe.

What adults tend to remember most favorably about childhood are birthdays and vacations. Therefore, many parents strive to find a way to pass on traditions and memories to their children. Timeshares offer that opportunity, filling family vacations with comfort and excitement for children to anticipate year-round and remember long into adulthood.

Buying, selling, and renting a timeshare on the secondary market can be beneficial to all parties involved. For timeshare buyers and renters, the savings are significant over retail resort prices. For timeshare sellers, the resale market supplies an outlet to promote the sale of vacation properties. Timeshares Only, in particular, provides worldwide advertising in a variety of media including television and a personalized ad that stays active until the timeshare sells. Timeshares Only specializes in selling high-end timeshares such as Disney Vacation Club, Marriott, Hilton, Hyatt, Fairfield, and Sunterra.