|
ARDA.org |
Press Room |
Upcoming Meetings |
Publications |
Contact ARDA
September 2008
Sponsored By:
ARDA Headlines
Introducing www.VacationBetter.org
Looking Ahead to 2009 Developments
Upcoming ARDA Meetings
Achieve Industry Recognition
ARDA Supplier Seminar in Myrtle Beach
Industry News
"Take Your Time With Timeshares"
"High Occupancy for Timeshares"
"Starwood Picks Avril for President of Hotels"
"Bellstar Developing Luxury Timeshare Club in B.C.'s Okanagan"
"Get Away and Get Together"
"Contact Center Compliance Appoints Michael Kovatch as New CEO"
"IAC Enacts One-for-Two Reverse Stock Split With Spinoff Completion"
"Silver Lake Resort to Build 48-Unit Timeshare Building"
"Oxford Named GM at Liki Tiki Village"
"Honolulu Firm Obtains Lease to Build Samoa Resort"
"Ever Vail Gets Warm Reception"
"ELS Acquires Privileged Access Operations"
ARDA News
Introducing www.VacationBetter.org
Check out ARDA’s VacationBetter.org, a consumer website designed to take the confusion out of timeshare by giving clear, easy to understand information and consumer tips. As an unbiased source of information about different vacation ownership options, VacationBetter.org can be an important resource tool for industry professionals, too.
Visit www.VacationBetter.org and see for yourself.
Looking Ahead to 2009 Developments
Make a difference in the industry and be a part of ARDA's flagship publication—contribute to Developments magazine! The new 2009 editorial calendar is now posted online with deadlines for article and advertising submissions. Articles are reviewed on a rolling basis across a variety of topics beyond the theme designated for each month. Contact Kathryn Mullan with ideas or questions on editorial at kmullan@arda.org, and for advertising opportunities, e-mail Sherry Eggers at seggers@arda.org.
Upcoming ARDA Meetings
ARDA-Carolinas Regional Meeting
Register Now!
September 22-23, 2008
The Sheraton Myrtle Beach Convention Center Hotel
Myrtle Beach, SC
2008 ARDA Fall Conference
The 2008 ARDA Fall Conference will be held at The Fairmont, Washington D.C. from Wednesday, November 12 to Friday, November 14. Featured events include the Trustee Dinner (by invitation only), Thursday's General Session with keynote speaker Dr. Kevin Hassett, formerly a senior economist at the Board of Governors of the Federal Reserve System, and now the current architect of McCain's domestic and international economic policy, and Friday's General Session Breakfast with keynote speaker Charlie E. Cook Jr., editor and publisher of The Cook Political Report and political analyst for the National Journal Group.
ARDA Committees will also meet to discuss their objectives and plan strategies. For the schedule of events including committee meetings, registration forms and hotel information, visit the 2008 Fall Conference webpage.
Achieve Industry Recognition
Gain the recognition you deserve for your industry experience and involvement by applying for the Associate Resort Professional (ARP) or Registered Resort Professional (RRP) designations. Applications are due September 15 for review at the Fall Conference. Visit www.ardafoundation.org/arprrp for the application, or contact Christina Reyes at creyes@arda.org for more information.
ARDA Supplier Seminar in Myrtle Beach
Join the latest educational training geared specifically toward suppliers of goods and services to the timeshare industry. This three hour seminar covers topics ranging from basic terminology to product definitions, refurbishment schedules to the timeshare lifecycle. The certificate program will be held September 22 at the Sheraton Myrtle Beach. For more information or to register, please click here.
Industry News
Take Your Time With Timeshares
Baltimore Sun (09/07/08) Walker, Andrea K.
Timeshares continue to grow in popularity. Currently, about 4.7 million households owned such vacation properties last year versus 4.4 million in 2006. Many people like to invest in timeshares because it helps push them to take a big vacation at least once a year. In addition, owning one can provide them the opportunity to visit a number of different places. Insiders, though, caution against buying a timeshare as an investment. Many properties drop in value as soon as they are purchased, much like an automobile. Units at resorts such as Walt Disney World and other popular family vacation spots often provide the best resale values. American Resort Development Association President and CEO Howard Nusbaum remarks, "I think they're good options if people understand it's about better vacationing and that it's not a real estate investment." He notes that there are three main types of timeshares: fixed and floating weeks, and point systems. A fixed week is perhaps the best choice for people who like to go to the same place at the same time each year. The floating week, meanwhile, is better for people who may want to trade their time with someone who has a timeshare at a different site. The point system, where you use points to go to a variety of different places, is the most flexible and best for those who are interested in trying different locations.
High Occupancy for Timeshares
Honolulu Advertiser (HI) (08/21/08) Dingemann, Robbie
According to a new report from the American Resort Development Association's Hawaii chapter, timeshare properties statewide boasted an average occupancy of 88.6 percent during this year's second quarter. That was nearly 20 percentage points above the average hotel occupancy for the period. The study's results drew more attention than usual since traditional hotel occupancy has declined in Hawaii in recent months following an overall decrease in the number of visitors coming to the Aloha State. ARDA Hawaii Chairman Mitchell Imanaka remarks, "Even during downturns in tourism, timeshare continues to stand out as a reliable source of revenue for Hawaii's economy and provide jobs for Hawaii's people." He adds that timeshare owners make the commitment to come to Hawaii when they buy their units, which makes them less likely to be discouraged by higher air fares or other economic issues. This helps supports a more steady job base that is not expecting layoffs. State economist Pearl Imada Iboshi, though, laments that timeshare visitors pay "significantly less" in state transient-accommodation tax (TAT), often referred to as the hotel-room tax. The 7.25 percent TAT tax they do pay is applied only to the maintenance fee and not the room rate when timeshare owners are using the unit. Such maintenance fees are usually far less than an average room rate. The most visible sign of the industry's growth locally is Hilton Hotels Corp.'s timeshare division ongoing construction of the 38-story Grand Waikikian in Waikiki. Bryan Klum, executive vice president Asia/Pacific of Hilton Grand Vacations Co., reports that timeshare is less seasonal and more predictable. Hilton has timeshares in a couple of other nearby properties that were earlier converted to timeshare units.
Starwood Picks Avril for President of Hotels
Wall Street Journal (09/03/08) P. B3
Matthew E. Avril was recently appointed president of Starwood Hotels & Resorts Worldwide Inc.'s hotels group, which includes Sheraton, Westin and St. Regis. The 47-year-old previously headed the company's vacation-ownership unit, a position he shared with Sergio Rivera. Rivera has agreed to continue with sole responsibility for the business.
Bellstar Developing Luxury Timeshare Club in B.C.'s Okanagan
Business in Vancouver (09/04/08)
Bellstar Hotels & Resorts has chosen British Columbia's Okanagan Valley as the location for the first of a collection of private residences in vineyards worldwide. The Calgary-based resort developer is teaming up with Olympus Resorts of Chicago to develop the so-called "Reserve Collection" residences. Future locations for expansion could include wineries in Argentina, New Zealand, Europe, California, Oregon and Washington. The residences will be sold as fractional ownership similar to timeshare units. Owners, though, will be able to release equity from their property to develop an on-site private club to "share in the development profits." Ownership will gain exchange benefits via the Elite Alliance, an international group of luxury resort destinations. To qualify, the wineries must be premium brands and the properties must offer exceptional views.
Get Away and Get Together
USA Today (09/05/08)
More and more families are embracing timeshares as a viable vacation option. Lisa Thornhill, communications director of Bluegreen Corp., states that using timeshares for gatherings of family and friends is on a definite upswing. For those interested in learning more about timeshares, Thornhill recommends visiting the American Resort Development Association's Web site. Timeshares are growing in popularity partly due to their locations, which typically offer outdoor activities and close proximity to major tourist attractions. John Locher, vice president of marketing at RedWeek.com, adds that vacationers like the convenience and privacy timeshares often offer. He comments, "A typical resort timeshare is set up like an apartment unit--living area, multiple bedrooms and baths, full service kitchen, and a washer and dryer." Ownership is typically on a shared basis with others, with each owner having bought time at the resort for a specified period that is usually in weekly increments.
Contact Center Compliance Appoints Michael Kovatch as New CEO
Centre Daily Times (PA) (09/04/08)
Mike Kovatch has been named the new CEO of Contact Center Compliance. Kovatch brings more than 25 years of corporate experience to the position, including more than a decade within the telecommunications and enterprise level Internet security industry. He previously held key sales management positions at Eschelon Telecom and General Electric. The mission of Contact Center Compliance is to provide the tools and information necessary for the resort development industry to cost effectively stay compliant with teleservice law while taking advantage of any exemptions available to the channel. Contact Center Compliance, a long-time member of the American Resort Development Association (ARDA), was awarded the 2005 ARDA Circle of Excellence "Ace Innovator Award" for its real-time compliance solutions.
IAC Enacts One-for-Two Reverse Stock Split With Spinoff Completion
Minneapolis Star Tribune (08/21/08)
In late August, IAC/InteractiveCorp finished its division into five publicly traded companies. Additionally, it enacted a one-for-two reverse stock split, which means that investors will now hold one share of IAC for every two shares of IAC held before the spinoffs. As part of the division, for every share of IAC common stock held as of Aug. 11, shareholders received one-fifth of a share in timeshare business Interval Leisure Group Inc., home shopping network HSN Inc. and ticketing service Ticketmaster Inc. Interval, HSN, Ticketmaster and Tree.com Inc. began regular trading on Aug. 21.
Silver Lake Resort to Build 48-Unit Timeshare Building
Orlando Business Journal (09/05/08) Bilbao, Richard
Last month, Silver Lake Resort Ltd. broke ground on a $10.8 million, six-story building in Florida that will feature about 48 timeshare units. The 117,000-square-foot building is on pace for a September 2009 completion, giving Silver Lake a total of 350 timeshare units. The master plan ultimately calls for more than 650 units. It will be one of the tallest buildings on the company's 30-acre lot, which features views of the various Walt Disney World theme parks. Serving as the general contractor and architect on the project are Roger B. Kennedy Inc. and Charles H. Parsons Architect P.A., respectively. Both have been involved in past Silver Lake timeshare projects.
Oxford Named GM at Liki Tiki Village
West Orange Times (09/08/08)
Lennis Oxford has been named general manager of Island One Resorts Hospitality Group's (IORHG's) Liki Tiki Village in Florida. The 24-year industry veteran's primary duties will be to manage the day-to-day operations of the 558-villa, 64-acre resort. In addition, he will spearhead initiatives to expand hospitality services for the timeshare resort's owners and guests, including employee training and incentive programs, on-site activity optimization and team development. In 2002, Oxford was honored with a Silver ARDY award by the American Resort Development Association as Resort Manager of the Year. IORHG President Sulyn Stumbras states, "I believe that with his proven leadership track and strong interpersonal communication and networking skills, he will ensure the ongoing success of Liki Tiki Village. I am confident that he will be able to reinforce Island One Resorts' dedication to brilliant customer service and professional resort management for our owners." At build-out, Liki Tiki Village will have 948 one-, two- and three-bedroom timeshare villas.
Honolulu Firm Obtains Lease to Build Samoa Resort
Honolulu Advertiser (HI) (08/22/08)
South Pacific Development Group has obtained a 120-year lease for 600 acres of oceanfront land on Savaii Island in Samoa. There, the Honolulu-based company plans to build the Sasina Village Resort, whose first phase will feature timeshare units, a hotel, a golf course and cultural center. Subsequent phases will include additional hotels, a marina and private residences. South Pacific officials have put the projected overall development cost at between $450 million and $500 million. According to a company statement, Belt Collins of Honolulu has been chosen to help with ecological impact and civil engineering studies "that will assure protection of the area's pristine environment."
Ever Vail Gets Warm Reception
Vail Daily News (CO) (08/20/08) Stoner, Edward
In Vail, Colo., local residents recently took part in a lengthy presentation on Ever Vail, the $1 billion new ski village proposed for Vail Mountain in West Lionshead. Proposed by Vail Resorts, Ever Vail would be centered around a new six-person gondola that would go up to Eagles Nest at the top of Vail Mountain. In addition, the village would also feature timeshares, condos, a "boutique" five-star hotel, stores, restaurants and a public park. One lingering concern is that Ever Vail may be too bulky and block mountain views. Others, though, liked the concept of building an entire village at once, instead of in piecemeal fashion. In addition, the project is getting high marks for being proposed as a "green" village. It is currently seeking "Platinum" certification under the Leadership in Energy and Environmental-Neighborhood Development program. The earliest the project could start is 2009, when a frontage road would be realigned to run alongside the interstate.
ELS Acquires Privileged Access Operations
Business Wire (08/14/08)
Equity LifeStyle Properties, Inc. (ELS) has announced the acquisition of almost all of the assets and some liabilities of Privileged Access, LP for a note payable of $2 million. Privileged Access is a vacation membership company with some 130,000 members, which leases about 24,300 sites at 82 ELS properties. The $2 million unsecured note payable matures Aug. 14, 2010, and accrues interest at 10 percent per year. Concurrent with the deal, all leases between Privileged Access and ELS were ended, and Privileged Access' operations now will be included in ELS' financial results. Due to the acquisition, nonrefundable upfront payments from the sale of membership or right-to-use contracts will be deferred and considered as revenue in subsequent years in compliance with generally accepted accounting principles. While the non-cash deferral adjustments could have a substantial negative impact on reported net income, no material impact on operation funds is predicted. ELS, a self-administered real estate investment trust, owns or has a stake in 309 properties in 28 states and British Columbia consisting of 111,997 sites.
Abstract News © Copyright 2008 INFORMATION, INC.
|
|
