I think, therefore I transfer.

Thursday, April 29, 2010

Smartly Spotting the Difference Between and Holiday Clubs

Today, there are numerous offers about wonderful holidays in self-catering vacation accommodation in some of the world’s most sought after locations. These offer better value than staying in a hotel and often with better amenities and services. But typically, there are two options with such offers it’s either a timeshare or joining a holiday club. In this article we will spot the difference between the two.

First, with timeshare companies, they invest money in building and developing resorts and the purchasers’ future occupancy rights are protected. When it comes to holiday clubs or discount travel clubs, you have a contract in their holidays.

With reputable timeshare companies also, they offer a mandatory 14-day cooling-off period which under the European Timeshare Directive, buyers are entitled to a cooling-off period of at least 10 days and the right to obtain information in a prospectus or brochure before signing the contract. Holiday clubs are not governed by the European Timeshare Directive.

When it comes to the cost, timeshare consumers pay an amount upfront, to purchase a certain number of years’ worth of holidays. The fees typically range from £4,000 to £25,000 and each year, a separate management fee is payable by every owner. Holiday clubs on the other hand, charge a fee to join the club which can be up to £25,000 and then on top of that, holidays need to be paid for.

There are many big hotel brands these days like Marriott, Four Seasons, Hilton, Disney and so on which got into timeshare and they elevated the industry to a whole new level. However, with timeshares, the owner is expected to pay an annual maintenance fee which typically increases over time while with holiday clubs, although the fee is one-time, membership fees are often of considerable amount.

Wednesday, April 28, 2010

Transfer Smart News: Wyndham Increases Outlook as Recovery Signs Are on Sight

For the past two years, the timeshare companies were greatly affected by the economic downturn. These companies faced the challenges of profitability and the many owners trying to get out of their timeshares. One of these companies is Wyndham Worldwide Corp. But recently, it lifted their 2010 outlooks which were spurred by signs that the industry can command higher rates and occupancies.

According to one analyst, Wyndham's reliance on its timeshare business to drive its outlook may have disappointed investors. The US lodging industry was hammered in 2009 as consumers and businesses trimmed their travel budgets, thus, hurting revenue per available room, an industry metric of profitability. Meanwhile, the trend hit luxury and upscale hotels hardest, while economy properties were more resistant.

Wyndham boosted its earnings and revenue outlook for the year, due largely to its vacation ownership unit. According to FBR Capital Markets analyst Patrick Scholes, some Wyndham investors could be turned off by the fact that timeshare gains were driving the increase in outlook. He added that compared to its two other businesses, generally, timeshare is not valued as highly.

Wyndham shares shed $1.30 to $25.33. The said company raised the low end of its 2010 revenue outlook to $3.6 billion from $3.5 billion, while leaving the high end at $3.9 billion. According to Thomson Reuters, it sees full-year earnings of $1.56 to $1.71 per share, excluding items, while analysts expect $1.60.

On the other hand, Wyndham said it would restructure its vacation ownership, or timeshare, business in late 2008 by cutting jobs and targeting consumers with higher credit scores. But now as the signs of recovery are already on sight and the owners trying to get rid of their timeshares are starting to diminish, the momentum of the company give them confidence to raise their revenue. According to Stephen Holmes, Wyndham CEO, much of the upside is being driven by vacation ownership.

Tuesday, April 27, 2010

Smart Ways to Spot Hidden Fees on Vacation

Sometimes, when you are on a vacation, not everything will likely go as planned. As a matter of fact, many consumers these days spend more than they expected for airline travel and hotel stays. This is because sometimes they were scammed, other times because they didn't read the fine print on a company website.

Some travel companies will try to lure their customers by low-balling prices of hotels, cruises and other travel expenses. According to Gabe Saglie, a blogger for retailer Travelzoo.com, most people are savvy enough to spot the obvious ones, so travel companies are getting better at things that inflate your price and they're becoming much more creative in their marketing. Saglie also added that some companies fail to disclose fees and taxes, or they will advertise a low price on one leg of the trip but charge a higher fare for the return trip.

Meanwhile, when paying for airline travel, extra fees have become part of the deal. Virtually all carriers charge extra for some things like fees for checking baggage but such fees don't appear as part of the base fare when you buy a ticket.

Meanwhile, cruises are another potential minefield for extra charges that add up. Alcohol and shore excursions are typically not included in the price. Those extra fees don't stop even after you reach your destination.

On the other hand, hotels, particularly upscale ones, are taking a page out of the airlines' strategy book and charging a "resort fee." This might be explained as a payment for using the pool and gym, but it's usually not optional. Some hotels also add fees for a second daily housekeeping visit or turndown services while others will charge fees for checking out early.

Some vacationers wishing to avoid hotels are drawn to timeshares. However, unscrupulous operators will contact owners and tell them they've been defrauded by the developer, then offer to help them get out of their timeshares from under their payments. But this is for a fee, of course. So, those are some of the common hidden fees during a vacation. If you are planning to go for a vacation, you know how to spot one.

Monday, April 26, 2010

Transfer Smart News: RCI Launches Newly Designed Website

In the vacation accommodation industry, big timeshare exchange companies like RCI plays an important role. It has been at the forefront of the timeshare exchange industry for 35 years. And recently, to make exchanging holidays for its members quicker, easier, and safer, it launched a new website which features design by Penquin.

PenQuin International is a complete advertising and marketing solutions company which focus on developing and implementing unique, cost effective solutions tailored to meet our client's strategic marketing and advertising objectives. According to Maria Vieira, Marketing Director Group RCI Africa, RCI members are revealing in the fact that they have a platform that is a more complete solution when planning and booking a holiday. RCI is extremely pleased with the end result of its new website. In developing RCI's website, they looked for an interactive creative partner that could understand their business and apply creative to meet ease of use for their members and PenQuin delivers on that.

This new website is aesthetically enticing which comprises bright designs, detailed pictures and crisp, clean colors. This is also combined with easy to use functionality and live searches, ensuring that users get the most of all RCI has to offer. As a result, the new site offers users a more enjoyable experience from the moment they start browsing.

For the past few years, the timeshare industry has been challenged by the economic downturn along with the many owners who are trying to get out of their timeshares. But this year, the industry is already on its way to recovery and many companies came up with new innovations and ideas aiming to attract more consumers. One of such innovation is from RCI’s new website designed by Penquin.

Friday, April 23, 2010

Transfer Smart Outlook: Timeshare as a Thriving Holiday Business

With the Asian market and new technology, the timeshare industry is experiencing stronger growth than ever after the economy was hit by a crisis. But looking back at its history, the timeshare industry began with a little idea from a French hotelier named Paul Doumier. Mr Doumier ran a hotel in the French Alps until one day he was inspired to market with the slogan, 'No need to rent the room, buy the hotel - it's cheaper!' In recent years, this industry has experienced a rebirth that has taken it to an unprecedented size in terms of members and affiliates, and is now also dominated by well-known operators such as Disney.

With established providers known as timeshare's Big Three: Resort Condominiums International (RCI), Interval International and Trading Places International, this industry is growing into Asia and other regions such as the Middle East and South Africa.

According to Geoff Ballotti, president and chief executive officer of RCI, the world's largest timeshare network, timeshare owners are always looking for new experiences, especially overseas, and there are ever-increasing opportunities in places in Asia such as China, Indonesia and India. It has also links to more than 4,000 properties in nearly 100 countries with 3.8 million members and also owns a luxury arm called The Registry Collection.

There are also other reasons for the timeshare industry's success, such as the multitude of big brands that have come on board. This industry is now also dominated by well-known operators such as Hilton, Marriott, Disney and Starwood. Moreover, the timeshare's durable business model which held steady in 2009 amid the worst recession since timesharing was introduced, has proven to be a key draw factor for property developers and owners.

For the last two years, this industry has been challenged by the economic downturn. Some companies shut down their operations and the number of owners trying to get out of their timeshares increased dramatically. But this year, this industry shows it resiliency as most companies are already recovering. We can also see that this industry is moving forward as a sustainable business with both an interesting and attractive growth formula in the travel and tourism industries.

Thursday, April 22, 2010

Transfer Smart News: Marriott International Shows 2010 First Quarter Results

For the past few years, the vacation accommodation industry has been greatly affected by the economic meltdown. Some companies were even forced to shut down their operations. But this year, as the economy is recovering, many timeshare companies are bouncing back. One of these companies is the Marriott International which reported its first quarter 2010 results showing exceeding revenue per available room (REVPAR) and diluted earnings per share (EPS) expectations.

For the first quarter of 2010, the net income totaled $83 million. That’s a 5% decline compared to first quarter 2009 adjusted net income. Meanwhile, the diluted EPS totaled $0.22, down $0.02 from adjusted diluted EPS in the year-ago quarter. Last February, the company forecasted first quarter diluted EPS of $0.15 to $0.21.

On the other hand, the reported net income was $83 million in the first quarter of 2010 compared to a reported net loss of $23 million in the year-ago quarter while the reported diluted EPS was $0.22 in the first quarter of 2010 compared to the reported diluted losses per share of $0.06 in the first quarter of 2009.

According to J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, in the first quarter, they welcomed increasing numbers of business guests to their hotels as travelers got back to work in most markets around the world. Corporate roomnights for the company in North America also rose 16% in the first quarter as business demand strengthened dramatically.

This year might be a great turnaround for the vacation industry. In contrast to the last two years, this industry has been challenged with profitability and the number of owners trying to get out of their timeshares. But now that the economy is recovering, many timeshare and accommodation companies are already showing dramatic improvements.

Wednesday, April 21, 2010

Transfer Smart News: Timeshare Resorts Help Stranded Holidaymakers’ Flight Delays

The vacation accommodation industry is becoming in demand this year. As a matter of fact, there are thousands of holidaymakers who go out to other countries for vacation as of this month. But recently, a massive backlog of flights was faced by holidaymakers trying to get home despite the opening of European airports. Meanwhile, timeshare resorts which are members of the RDO have been working tirelessly to provide emergency accommodation for stranded guests and help them get home whenever possible now that the flight ban is officially over.

Because of backlog of flights, families with children have found themselves taking an unexpected extended holiday in sun-soaked holiday destinations such as the Costa del Sol, Cyprus, The Canary Islands and the Algarve, right before the start of the new school term.

However, a number of resorts have stepped in to provide last minute arrangements and accommodation for families who are unable to get home, with resort teams working flat out to ensure owners either have somewhere to stay if no immediate flights are available, or help with last minute travel arrangements. Some resorts have let their guests stay on free of charge while others are providing discounted stays and even offering significantly discounted menus in their restaurants.

According to Richard McIntosh, RDO Chairman, their member resorts have shown tremendous goodwill by helping out during this extraordinary crisis. It did not only ensure timeshare owners are well looked after, but also doing all they can to get them home by coach or ferry services where at all possible.

For the past few years, a number of complaints have been thrown to timeshare resorts. Such complaints are typically from owners trying to get out of their timeshares regarding resorts’ cost and services. But this time, we can see that these resorts have empathy for their consumers especially during such unexpected crisis. This may somehow draw the image of timeshare resorts to a positive side.

Tuesday, April 20, 2010

Smart Steps to Donate Your Timeshare to Charities

Many people purchase timeshares because they were lured by the idea of a private, exotic getaway to a place in which you have propriety. But when the owner decides to get out of his timeshare by selling it, the fantasy of luxurious vacationing becomes a miserable burden. In reality, owners faced hassles and costs such as the listing fees which is more than half of its selling price. While waiting for the unit to sell, the owners also lose money in property tax and maintenance fees. Because of these, donating a timeshare can prove profitable in terms of a sizable tax deduction.

First, procure a copy of your deed and other documents needed to donate your timeshare to charity. A duplicate of every form presented at the time of the purchase of your unit should be forfeited to the charity. Then, request documentation of the value of your timeshare from a charity at the time of donation. A donation of a timeshare to a non-profit organization can be deducted to your income taxes.

Try to consult also with fellow owners on your property to donate the entire value of the timeshare to charity. It is important as well to set aside funds that would have been used on broker fees to amplify your donation to charity.

Meanwhile, focus your search for a worthy charity to organizations dealing with issues that hit close to home and list your timeshare donation through a non-profit organization with connections to a large number of charities. Moreover, try to keep your gift of a timeshare at the local level with the help of faith-based organizations.

All in all, the decision to get rid of a timeshare from your holdings does not need to focus entirely on a sale. The cost of listing your timeshare through a broker and the discounted sale price necessitated by a flooded resale market make for an unsatisfactory transaction. There are a number of personal and financial benefits when you donate a timeshare to charity.

Monday, April 19, 2010

Be a Smart Timeshare Reseller with the Two Most Important Factors

If you decide to get out of your timeshare by selling it, there are some things to consider. Such factors are not only important to make a sale but also to get a deal at the best selling price. Remember that nowadays, the supply in the resale market is far greater than the demand. Thus, you must sell your timeshare smartly.

There are many things that you will want to consider when selling your timeshare as well as many considerations that will contribute to your ultimate selling price. The amenities, desirability of the resort, time of year, and the size of your timeshare will play an important role in deciding for the overall price of your timeshare. But if we narrow down all of the factors, the most important are the overall price and the visibility of your timeshare.

Price may determine how fast you are able to sell your timeshare and can also be the determining factor in whether or not it ever sells. In so doing, you must consider what comparable properties are selling for and set your price accordingly. This is just a matter of the law of supply and demand.

On the other hand, advertising plays a very important role to get a deal that you are looking for. Take note that selling a timeshare for more than market value is possible with the right advertising. With this, you’re targeting for a global market. As we all know, vacation property is in demand for tourist or vacationers abroad. So, make sure that you have an extensive advertising in order to widen your visibility. With the internet, this is very possible nowadays.

By paying attention to those two factors, you are able to get rid of your timeshare by selling it. You will also get the most possible money out of the deal and sell it as quickly as possible.

Friday, April 16, 2010

Smart Checklist for Buying a Timeshare

Many prospective buyers are at loss when deciding what important factors that should be considered when buying a timeshare. As we see it today, a number of owners are trying to get out of their timeshares and one of their reasons is regret seeing that they aren’t optimizing their ownership. In this article, we will provide you with a checklist to make sure that you are not missing the important criterions that should be weighed against the timeshare you are buying.

If buying through a broker, make sure that he is licensed. The following are some of the good questions that you should ask:
* What is the maintenance fee of the resort and do they keep raising it every year? If yes, by how much?
* What are the chances of getting a good timeshare like in a desired week?
* By what date you should make your reservation at the earliest?
* Are there any extra benefits accompanying your timeshare unit?
* Does the company have bonus week program?
* Can you exchange your timeshare without joining an exchange company?

In many cases the descriptions provided by the timeshare company or the reseller turns out to be misleading like the location, size of the unit etc. Thus, see the unit before you buy. Also, get references. You may ask the neighboring units what they think of the amenities and the management.

Meanwhile, you should do your homework to find out the prices in the area you are buying. You can do this through the internet. Keep in mind that if you are buying a resale timeshare unit, it should be as cheap as half the price of the new timeshare unit that developers sell.

The above-mentioned points can be your guide when buying a timeshare. In this way, you can be an informed buyer unlike many of the owners today who end up in regrets and in their efforts to get rid of their timeshares. Remember, before you buy one, some important things must be considered carefully.

Thursday, April 15, 2010

Renting a Timeshare as a Smart Way to Vacation on a Budget

After our economy had been stricken by a crisis, most people are on super tight budgets these days and vacations have not been on their priority lists. Some vacationers are even trying to get out of their timeshares just to minimize their cost of living. But what if you can avail a timeshare for a super bargain price?

According to Consumer Reports, these days you don't have to buy a time share to enjoy what many people like about them like the resort facilities, a lot of room, including a kitchen and living room, in exotic locations. As Mandy Walker of Consumer Reports said, in this economic downturn, timeshare owners are anxious to rent and you can negotiate a really good deal. There are some units for as low as $400 a week and many in the $600 to $1,200 range.

There are many sites nowadays which have plenty of rent-from-owner listings and are categorized by location and even activities, like skiing or golf. But take note that most of these sites’ services charge fees to get a full access.

However, if you are considering renting a timeshare as a vacation option, try to check out reviews of the resort where the timeshare is located, either on the rental sites or on free travel sites. Also keep in mind that most timeshares require at least a weekend and sometimes a week-long booking.

Currently, most individuals are on cutting back on spending as a way to minimize their daily cost. As for the vacationers, a number of owners are trying to get rid of their timeshares as this way of vacationing is becoming costly at these times. However, any eager vacationer can avail of such option at a much lesser cost through timeshare rentals.

Wednesday, April 14, 2010

Smart Timeshare Vacation through Careful Planning

As the summer is nearing, people are already planning their vacations. And for those who are on a tight budget, timesharing might be a great option despite the many owners who are trying to get out of their timeshares. Today, there are thousands of units available in the resale market in which any vacationer can grab at a lesser price.

Timeshares are set up like apartments which give people an ample space for comfort and convenience. This also comes with fully equipped kitchens which will allow the vacationers to save-up on meal expenses.

Meanwhile, there’s also another option for even more savings through timeshare renting. Websites like RedWeek.com can offer several timeshare deals which surely find one that suits your budget and preference. However, just beware of online timeshare as these are very prevalent nowadays. Thus, you must know which organizations are legit and be cautious when dealing with any salesperson.

Also, don’t be afraid to question dealers as it tests if they really know what their selling. Mostly, scammers don’t. Moreover, inquire if there are added charges, like maintenance fees and housekeeping fees. You should ask the exact amounts before jumping to any deal. Try to ask also if the property entitles you to use of facilities and other privileges. To be sure, double check the existence of your dealer through the Better Business Bureau.

Timesharing has become one of the most popular ways of vacationing these days in spite of the number of owners who are trying to get rid of their timeshares. However, before one go for this option, he/she must consider a number of things to optimize his/her ownership. The above-mentioned points may serve as a guide for those potential timeshare owners.

Tuesday, April 13, 2010

Transfer Smart News: Privately-Owned Timeshare Company Announces Responsibilities for Doreen Bechard

The past few years have been difficult for the timeshare industry as it was challenged by the issue of profitability and the number of owners trying to get out of their timeshares. But this year, a glimpse of economic recovery is already visible and most timeshare companies are implementing strategic plans to improve their services. Take for example the Grand Pacific Resort Management, a privately owned timeshare vacation ownership management company located in Carlsbad, CA which has announced that Doreen Bechard, Regional Director of Operations will take on the important responsibility of leading the Sourcing of Best Practices and Implementation via Standard Operating Procedures (SOPs) for the company.

Her duty will include oversight of all monthly Best Practices Forums: Maintenance, Housekeeping, Safety, Activities, Front Office, and the Going Green-Sustainability initiative at all resorts. In addition, she also takes on the leadership of Southern California Beach Club aside from her current portfolio of Alii Kai, Villa L’Auberge, San Clemente, and Carlsbad Inn.

Doreen Bechard has been with the Grand Pacific Resort Services since 1999. She was also the Regional Vice President- Pacific Region with Resort Condominiums International (RCI), and has over twenty years of timeshare experience. Recently, she was awarded one of Grand Pacific Resort Management’s Leadership Award of the Year during a company-wide Celebration of Excellence.

Today, there may still be a number of owners trying to get rid of their timeshares and this can be considered a threat to timeshare industry. According to Nigel Lobo, Vice President of Operations, they are excited to have Doreen lead the important initiative across their company as their goal is to build strong networking opportunities across our resorts with sharing of best practices, streamlining of processes via SOPs, and establish a support network of peers.

Monday, April 12, 2010

Research as a Smart Way before Buying a Timeshare

For many people, owning a vacation home is like a dream. Unfortunately, such properties are typically at a considerable cost. But today, a more affordable solution many people can work into their budget is to buy a timeshare. Despite the reports that there is a considerable number of owners who are trying to get out of their timeshares, there are still more and more individuals who are into this type of vacationing. A timeshare is quite simply a vacation home/condo that you buy into with a group of other individuals. However, to avoid the pitfalls of timesharing, a potential owner must do his/her own research regarding the unit that he/she is planning to acquire.

The first step to buying a timeshare is to figure out the vacation spot that you like to visit at least once a year. Once the destination is identified, it's time to shop around to find the timeshare that works best for you. You can look for promotional offers that many timeshare developers and management companies run.

Also try to talk to some current owners. Ask what they like and dislike, and if the time allotments work well for their vacation planning. With this, they are more likely to let you know what amenities you get and how well what the sales people are telling actually works.

After you've visited a few timeshares, take a step back and think on what you've seen and how the various locations and payments will fit into your vacation style and budgets. Think about what you want and need for your vacation and make sure the timeshare you choose caters to that.

When planning to own a timeshare, a number of things must be considered carefully. Because it is a commitment for the length of the contract, it pays to research your purchase before you sign the papers. With this, you‘ll be able to optimized your ownership unlike many owners today who ended up wanting to get rid of their timeshares. Moreover, it will ensure that your yearly vacations will be truly memorable.

Friday, April 9, 2010

Transfer Smart News: Timeshare Sales Rise in Brazil for the Last 12 Months

When the economic meltdown broke out, it was evident that a considerable number of owners tried to get out of their timeshares. But this year, the road to economic recovery is already visible and in Brazil, the number of property investors purchasing fractional and timeshare units has grown by a significant amount within the last 12 months.

According to Overseas Property Professional (OPP), sales of the fractional properties shot up by approximately 60% last year, with the increasing South American tourism trade cited as one reason for the rise. Meanwhile, the figures released by holiday exchange firm RCI come despite the company posting an overall sales loss of 12% during 2009.

As Mario Ocampo, public relations director for RCI Latin America, told OPP, the rise in interest in the region could be due to the recession in North America, as the markets had not been as negatively affected by the economic troubles. He explained that the involvement of European investors has also been very important in the Latin American market. Moreover, part of the Brazilian growth in particular is due to European investment.

On the other hand, numerous property portals have already predicted that the South American destination is set to be a top seller during 2010.

Since the late of 1997, sales have been threatened by the economic condition and the number of owners trying to get rid of their timeshares. But compared to the sales performance this year, the timeshare industry has a great improvement and as it has been revealed, investors buying timeshare units has grown significantly.

Thursday, April 8, 2010

Smart Tips on Reselling Your Timeshare

Typically, a timeshare’s value is tied to travel habits and location. When the owners’ circumstances take turns unexpectedly, getting out of their timeshares by selling it is the common option. But take note that there are some things to be considered before selling it.

There are a number of fraudulent companies nowadays. These companies charge high upfront fees and make deceptive pitches. They usually claim that they have buyers lined up when actually, there’s none. They may also offer to buy your timeshare interest, take it for a fee that you pay, help you give it to charity, put your timeshare in a travel club or some other option. Some of these offers may be legitimate but it is better to make sure that everything is cleared out before paying anything. It is important to know who you are dealing with, what their contract says and how their previous customers would characterize their experiences.

In reselling a timeshare, do not give your credit card number and avoid paying any money to a company until you have a contract or full details of their services in writing. In addition always shop around, research, and compare prices and services before deciding. Moreover, investigate the company you plan to do business with before signing any agreement.

While many owners ended up getting trying to get rid of their timeshares, there are more cautions to practice before owning a timeshare. Currently, the resale market includes timeshare resellers, Internet advertisers and other resale companies which abound with many types of sales pitches. Beware of such companies who try to pressure you into using their services, especially when they have initiated your interaction.

Wednesday, April 7, 2010

Identifying Smartly the Advantages and Disadvantages of Owning a Timeshare

As many owners today end up trying to get out of their timeshares, potential consumers are now careful before they purchase such property. When you purchase a timeshare, you will own typically one week per year of that unit where you will be spending your vacation. But just like any other property, it has also its own ups and downs.

Timeshares can be a good way for people looking to vacation in the same place every year at the same time of year. The cons to this are that you must pay an annual maintenance fee that usually increase. Also, you must pay interest on the timeshare price if you finance it. But if you do not want to spend your vacation in the same place at the same time every year, you will have to pay fees to change either the resort or vacation week.

For some people, timeshares may work for them provided they take into account all of the facts before purchasing. Since you own the timeshare, you can either sell it or exchange it if you choose. However, be reminded that timeshares do not appreciate in value like normal real estate does. Moreover, exchanging the timeshare unit may cost an additional fee.

In the long run, owning a timeshare saves money because you are not purchasing hotel rooms for your vacations every year. Timeshares mostly provide one to three-bedroom units with living rooms and full kitchens. Compared to hotel rooms, it can provide you as much room and amenities.

In the recent years, there’s an increasing trend for owners who wanting to get rid of their timeshares. The economy plays an important role in it but the disadvantages brought by it can also be the cause. Thus, if you plan to own a timeshare, make sure you do your own analysis. Also, have an attorney look at your timeshare contract first before signing it to avoid future conflicts.

Tuesday, April 6, 2010

Transfer Smart News: Hilton Timeshares’ Expansion in Hawaii Creates 700 Jobs

Although many owners try to get out of their timeshares nowadays, the establishment of such industry on the other hand creates a number of benefits to the economy. One of its great benefits is the creation of jobs. Take for example the recent case of Hilton Hawaiian Village which will be building two new timeshare towers as part of a 10-year master plan at the 22-acre resort. According to Jerry Gibson, area vice president and managing director for Hilton Hawaii, altogether, the towers would nearly double the inventory of timeshare units to 1,200 from the current 650 and create about 700 jobs.

The construction of the first tower is slated to begin in 2013 and be completed in 2015. It will be a 37-story building with 300 rooms. The construction on the second tower, with 25 floors and 250 rooms, is scheduled to begin by 2010. Meanwhile, the project is expected to cost hundreds of millions of dollars. The building of two new timeshare towers will also be a part of a 10-year master plan at the 22-acre resort.

As Gibson said, Hilton decided to devote all the new units to its timeshare pool based on the success in recent years with other timeshare projects, including the Grand Waikikian, which opened in late 2008 at the Hilton Hawaiian Village.

For a number of consumers particularly vacationers, timeshares may have been viewed negatively due to some of its disadvantages. Some owners also are thinking about getting rid of their timeshares to unload their financial burden. Despite these, this industry remains a big contribution to the economy. Also, as some timeshare companies are expanding their operations such as the Hilton Hawaii, jobs were also made available which is very important especially with our crisis-stricken economy.

Monday, April 5, 2010

Transfer Smart News: Hilton Hawaii Plans to Expand its Timeshare Towers

This year, the economic recovery is within sight. But even if the recent recession is more than a year away, the challenges of the timeshare industry such as the profitability and the many owners who are trying to get out of their timeshares just cannot be ignored. This is also the dilemma face by the Hilton Hawaiian Beach Resort as it plans to add two more timeshare towers to its already seven towers.

The said Hilton Hawaii's self-financed project will nearly double the resort's timeshare capacity costing hundreds of millions of dollars. Meanwhile, the construction is expected to start in 2013 and reach completion two years later. According to Rick Egged, the president of the Waikiki Improvement Association, the project will bring more visitors to Waikiki, which will also bring in more investment and tourism dollars.

However, the optimism for the Hawaii's tourism industry came from the growing presence of China as the number of big-spending Chinese visiting the United States is expected to rise by 15% this year, reaching more than 550,000, and Hawaii is a prime destination. According to Mike McCartney, president and chief executive of the Hawaii Tourism Authority, the Chinese visitors have become Hawaii's highest daily spenders, and recent bookings show that the outbound travel from this growing market is picking up again.

Currently, the economic indicators create optimism to any industry, although shakily. For the timeshare industry, although a considerable number of owners who try to get rid of their timeshares still exist, timeshare operators are positive about the road to economic recovery. As a matter of fact, a number of them are on their way to expanding their operations as of the first quarter of this year and one of them who is the Hilton Hawaii Timeshares.


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