I think, therefore I transfer.

Tuesday, August 31, 2010

Social Media as a Smart Way to Connect with Timeshare Owners

With the number of owners trying to get out of their timeshares these days, timeshare companies have found a new way to better communicate with its clients. The timeshare industry is known for its marketing savvy and now, it is adopting social media strategies. While timeshare brands and associations have different approaches for their varying customers, most are using social media outlets to strengthen the bond with their most critical mass which are the current timeshare owners.

According to Howard Nusbaum, president and CEO of the American Resort Development Association, they’re trying to educate their members that viral and word-of-mouth marketing now has a huge megaphone. He added that this is an opportunity every day to ensure you’re igniting your fans and answering your detractors, and it’s almost as if comment cards are now in the public domain.

Meanwhile, that concept of “igniting fans” has plenty of marketing clout, according to Ed Kinney, VP of corporate affairs and brand awareness for Marriott Vacation Club. He said that they found that social media really isn’t a transactional marketing channel. Thus, we should back off from that and use it for other means, like service and awareness. Kinney further said that the Marriott team was keen to not turn people off with its social media strategies, which include Twitter and Facebook.

On the other hand, defining the social media space is different for different companies. Some use established channels like Facebook, Twitter and YouTube to monitor how owners perceive their vacation properties and spread the word that way. Others, such as Interval International, have created proprietary members-only sites to corral all forms of shareable online media.

Monday, August 30, 2010

Transfer Smart News: West Sands Resort Makes its Debut in the Timeshare Market

Getting out of a timeshare has been a common scenario for many holidaymakers today. But despite this along with the negative perception on such properties, there are still a number of timeshare of new timeshare resorts coming out every year. One of these is the Phuket’s West Sands resort which has partnered with Interval International to make its debut in the timeshare market.

The said property is tucked in 48 lush acres with its own 500 yards of private beachfront situated on Mai Khao Beach on Phuket’s favoured west coast. The studio, one-, and two-bedroom units range from 92 to 167 sqm. while the three-bedroom units measure 335 sqm. The residences also have been designed to have minimal impact on the environment and all features European-style kitchens and bathrooms, as well as balconies with views of the pool, gardens or the Andaman Sea. Moreover, owners and guests will have access to West Sands Water World which is one of the largest water parks in Asia with seven themed ‘worlds’.

According to Joe Hickman, Interval International’s Asia Pacific Executive Director, they are very pleased to have added West Sands Phuket Beach Club to their exchange network. He added that along with its high design standards, the eco-friendly development will contribute to preserving the environment and to more enjoyable and economic living.

Meanwhile, Barry King, Project Director of West Sands Vacation Club stated that Phuket is well established as a premier vacation destination and West Sands matches its natural beauty with all of the modern amenities essential to enjoying life to the fullest. Thus, choosing Interval as a partner matches its global experience in the field of vacation services with their local market and product knowledge. He stressed out that they are delighted that West Sands will be part of Interval’s network of quality vacation resorts.

Saturday, August 28, 2010

Transfer Smart News: Mahindra Holidays to Launch Three More Resort Brands

Although there are still a considerable number of owners trying to get out of their timeshares ever year, many timeshare companies these days are on their way to expansion. One of these is the Mahindra Holidays & Resorts India (MHRIL) which will launch three more resort brands to cover the entire gamut of leisure travelers across different age and income groups.

The said company is launching resorts in premium, uber-premium and budget categories. Under the uber-premium fractional ownership category, there are around 3,000-3,500 sq ft villas which will be built adjacent to Mahindra’s existing resorts. Under a timeshare perpetuity-basis, there will be around eight to 12 people who could own the villas for an upfront amount and a regular maintenance fee.

According to Ramesh Ramanathan, managing director of MHRIL, the first such gated community will come up at Coorg in Karnataka in the next financial year. He added that another premium resort brand is expected to come up this year and a budget vacation ownership brand will be launched within the next 18 months.

Under the flagship brand Club Mahindra, there are four resorts, with a total of 500 rooms which are under construction. Ramanathan further stated that these resorts are coming up in Tugi near Lonavala, Coorg, Ranthambore and Gir in Gujarat. The total investment on these projects will be Rs 250 crore which will be partly funded from the proceeds of the IPO and rest from internal accruals.

On the other hand, Club Mahindra is also planning to enter Sri Lanka and Malaysia. In Sri Lanka, it will either float a new company or enter a joint venture to set up vacation resorts. The company, which is part of Mahindra Homestays, will also tie up with more homestay operators to have a total of around 2,000 rooms within two years. At present, it collaborates with owners of 258 homes and has 738 rooms at 47 locations in 15 states.

Thursday, August 26, 2010

Smartly Beware of Timeshare and Holiday Frauds

Many people are falling victim to various types of holiday fraud these days. The common victims appeared to be those owners who are trying to get out of their timeshare contracts. But such fraudulent activities operate and prey on various consumers.

Timeshare fraud is considered a common type of holiday scam nowadays. Typically, the victim gets a phone call inviting to attend a free presentation to learn how to become a property millionaire from buying a timeshare. However, it ends up with a timeshare that either doesn’t exist or is far below the standards the owner will pay for.

The other scam is that the fraudsters offer to help you sell your existing timeshare. There are also double scams in which the fraudsters ask for upfront fees for legal services to help those who've already been the victims of other timeshare frauds.

Meanwhile, some holidaymakers fall victim to frauds involving non-existent holiday villas. They will take your money and it’s only once you get to your destination that you find the villa doesn’t exist. Much worst is that you’re then left in a foreign country without accommodation.

However, the authorities strongly advised to be aware of such activities. There are some simple rules to avoid such vacation frauds like be very wary of letters, phone calls or emails from companies that you don’t know offering you great deals out of the blue. Also, never make investments without thorough research. Moreover, never agree to anything on the spot. Take the documentation home and make sure a lawyer reads the contract before you sign it.

Wednesday, August 25, 2010

Smartly Knowing What Even the Best Timeshare Companies Are Not Telling You

These days, may be you already heard all the reasons why you should not buy a timeshare company. You might also have heard about the many owners who are trying to get out of their timeshares mainly because of the extra fees to the lack of flexibility. But today, even the best timeshare companies are still looked at under scrutiny.

Meanwhile, many timeshare resorts these days are involved in a scam. This include giving false promises to the consumers, adding fees which are not agreed upon, or even selling a unit which is not yet finish constructing. However, the best timeshare companies will still charge you annual fees and maintenance fees for maintaining your property when it is not in use. Several timeshare properties are also outdated and will require several repairs throughout the years. Such maintenance will result in more money out of pocket for you.

On the other hand, timeshares are very difficult to rent for a profit and even harder to sell. Take note that most timeshares that are rented cannot even be rented for the amount you will be paying in the maintenance and annual fees. Timeshares are also very difficult to sell because of the extra costs associated with owning one of them.

Timeshares are notorious for passing along extra charges and fees to their customers. Changing your vacation date or time typically requires a fee. If you do not use your vacation time one year, it might result to losing it and might even incur a fee for not using the property. Thus, if you are still looking for ways you and your family can enjoy your yearly vacations, it is better to op for other alternatives that are budget-friendly.

Tuesday, August 24, 2010

Transfer Smart News: Study Claims Many Saudis Regret Purchasing Timeshares

It is a well-known fact today that many owners want to get out of their timeshare contracts after using such properties after a couple of years. According to a survey, in Riyadh, the vast majority of Saudis who own timeshares regret purchasing them.

The study was conducted by the Riyadh Center for Information and Consultancy Studies. It claims that 85% of those surveyed wish they had never entered into such an agreement. It also says that nearly 78% of owners view their involvement in the industry as evil. Moreover, the survey revealed that nearly 85% of Saudis who invested in a timeshare agreement are men while 81% are married.

These days, there has been a growing demand for such properties among the younger generation. In fact, 47% of timeshare owners are aged between 30 and 40 compared to 13% for the 40 to 50 age bracket and 10.5% for over 50s. The study also revealed that over 60% of them are also university graduates.

Meanwhile, a timeshare is the name given to a piece of real estate owned by a number of individuals. These are typically holiday resort units and each sharer is allocated a period of time, usually around one week to use the property. Timeshare agreements may also be drawn up on a part-ownership or lease basis where the sharer holds no claim to the ownership of the property.

On the other hand, estate agents dealing in timeshare properties mainly target those with a high monthly income to improve their chances of receiving a higher commission. However, as the study showed, this was not the case with Saudi timeshare owners. Only eight percent of them had a monthly salary of between SR15,000 and SR20,000. About 31.5 % of owners earned between SR10,000 and SR15,000 while 18% were on less than SR5,000. This means that even people with a limited income set aside a part of their savings for their vacation expenses as the study claimed.

Transfer Smart News: McCollum Reaches Settlement against a Timeshare Resale Company

One of the most common scams these days involved conning owners who are trying to get out of their timeshare contracts. Thus, there is an increasing number of complaints filed at Attorney general’s Office every year. Recently, Florida Attorney General Bill McCollum announced that he has reached a $110,000 settlement with a Palm Beach County timeshare business that allegedly engaged in unfair and deceptive trade practices.

The TS Luxury Group and its owner, Mary Filocomo, allegedly offered timeshare resale advertising services to US and Canadian consumers. According to a lawsuit brought against the company, it alleged that it enticed people into using its timeshare resale services by misrepresenting that it had procured interested or actual buyers for the consumers' timeshares.

Just like the common scams that involved resale companies, the TS Luxury Group also allegedly collected upfront fees for its services and issued contracts that were different than what was agreed to orally between consumers and company representatives.

However, a number of victims filed complaints against TS Luxury Group and AG McCollum had already reached its decision. In addition to agreeing to permanently dissolve its operations, the company must also pay any additional claims from consumers who file complaints with the attorney general's office in the next 90 days. On the other hand, Filocomo and the company cooperated fully with McCollum and have already begun reimbursing consumers. Moreover, consumers especially the owners who are trying to get rid of their timeshares have been constantly warned by Attorney General’s office against the unfair resale practices these days.

Friday, August 20, 2010

Transfer Smart News: Timeshare Operator Run Afoul with Labor law

In Orlando, Florida, we typically hear stories about timeshare companies conning owners who are trying to get out of their timeshare contracts. But recently, there’s another twist to such stories which still involved a timeshare company. An operator of a timeshare ran afoul with federal regulators and Florida labor law, and must compensate their so-called off-property consultants of nearly $1 million in lost wages and overtime. The Florida employment issue came to light primarily as the result of a routine labor audit.

The errors impacted more than a thousand employees at Central Florida Investments. This is a timeshare operator which is based in Orlando that does business as Westgate Resorts. According to Westgate, the audit revealed that 1,065 off-property consultants were paid at a rate falling below the federal minimum wage for some of their hours worked. It also revealed that premium compensation paid to workers did not include commissions, and overtime was not properly computed.

As Mark Waltrip, Westgate's chief operating officer said, what they discovered is there was a discrepancy in how they were calculating overtime for certain marketing personnel and it wasn't anything intentional. Meanwhile, there were no criminal charges or fines to be assessed against the company.

On the other hand, Waltrip credited the US Department of Labor (DOL) with helping to bring the discrepancies to light and stressed that the government agency did not find any intentional wrongdoing. However, several timeshare operator's employees have filed lawsuits in an attempt to collect overtime pay they are owed. As a result, the DOL indicates that Westgate will have to correct the errors, extend back payments to those affected and implement new procedures for record-keeping.

Thursday, August 19, 2010

Factors to Think about When Selling Your Timeshare Smartly

With the current economic uncertainty, almost everyone is affected in a single way or an additional. And for those who are possessing timeshares, they may be thinking of getting out of their timeshare contracts. Of course, the best way would be to sell it to recover some costs. But when it comes to marketing timeshares, there are a number of factors to think about.

One particular way to sell a timeshare is to outsource the sales procedure and have somebody do it to suit your needs. But if the cashflow is the priority then this might not be the most effective selection as this typically involved additional cost. You will then discover other, cheaper alternatives likewise.

Meanwhile, one option is to have a private sale instead. Naturally, this has its own pros and cons. Unlike having a broker or firm to do it for you, you may have to perform much regarding setup yourself. This will consists of designing the copy for ads, figuring out exactly where you need to have them (both on and offline)and likewise keeping track of each ad’s performance and ensuring that you just do not go over your marketing budget.

If the previous option might sound like lots of work, you might have to procure the services of the broker. This will indicate though that the sale price of vacation property must be increased so as to pay for the invoice you will get or to pay for the commission charged on the sale. Some factors to become aware of whenever you sell your timeshare is that you’ll find that some brokers out there insist on their fee upfront. You could possibly be happy paying a portion just to have moving but paying the full fee may possibly be anything you balk at.

Wednesday, August 18, 2010

Transfer Smart News: CASE releases Consumer Advisory against a Timeshare Firm

As timeshare ownership is getting more popular vacationing option every year, there are also increasing complaints regarding timeshares. For some owners, they just try to get out of their timeshares because of the disadvantages that they are complaining. But recently, the Consumers Association of Singapore (CASE) red-flagged Worldex Pte Ltd as the organization received 137 complaints against the timeshare company’s doubtful service.

According to the list of complaints, Worldex’s questionable practices include purchasing timeshare contracts from clients who have to wait 30 to 60 years to receive their payout plus profit. Customers were also have to pay hundreds of dollars in consultation fees when they attend presentation’s at the Worldex office, which are completely separate from the membership fee.

Meanwhile, others have complained of the company’s supposedly inexpensive holiday offers. Customers are asked to invest S$10,000 to avail of Worldex’s steeply discounted rates for luxury holidays and 5-star accommodations. However, the rates turned out to be not as cheap as promised, and there were still many lower-priced alternatives.

Such complaints have prompted CASE to release a consumer advisory against Worldex. Mr. Seng Choon, executive director of CASE, has already warned that they will pursue legal action should the organization receive more complaints.
On the other hand, Choon warned timeshare investors to be wary of businesses offering to buy their timeshare memberships.

Such companies have consistently been the main source of complaints received by the organization. In the past year alone, it received more than 2,500 complaints. Moreover, more timeshare companies in Singapore are luring customers with offers of buying their timeshare contracts for a substantial fee. Such cases have gone up tenfold since they began surfacing in 2003, and now, they make up more than 25% of timeshare complaints.

Tuesday, August 17, 2010

Smart Options for an Unwanted Timeshare

Timeshares are known as properties that can be passed down to the owner’s children or heirs. As it turned out, many heirs don’t like such idea as they shoulder the costs associated with it. Thus, many of them want to get out of these timeshare contracts. To recover some expenses, they try to sell it first before any other option. The question now is, what is the best way to sell it?

As we all know, timeshares are very difficult to sell, particularly at a decent price like something close to what was paid for it. Usually, the price that you sell it for is generally about the same that you would have to pay in annual maintenance charges. So, essentially you're just giving it away. In fact, one of the problems in trying to sell your unit is that there are many unsold new properties on the market and timeshare sales have suffered significantly from the recession.

Meanwhile, the market nowadays is full of timeshare resale scams. However, you can try to search on the internet and get a look at all of the good deals that are offered that seemingly make it easy to sell and at a good price. Most of these ads will require you to give the sales company a down payment of several hundreds of dollars for them to list it. And as the scam cases reported, you never hear from the company again.

You can also get some compensation out of your unit by donating it to a charity. Most of time, you can probably deduct the cost from your income tax. You could donate it just once a year for a raffle or charity auction, or you can donate it permanently.

Moreover, you can market your timeshare as a rental property. Maybe, some of your friends might be interested in renting the property for the week or two that you own it. With this, at least you'd get enough money out of the rental to pay for the annual upkeep fee. Timeshare properties are nice to stay in and a good to vacation. But remember that you can often rent them rather than own.

Smart Ways to Identify if a Timeshare or Travel Club is Legitimate or Not

Nowadays, everywhere you turn, someone is trying to sell you something. Some of the products that are sold with high-pressure tactics are timeshares and travel club memberships. With many owners today who want to get out of their timeshare contracts, the sales pitch entice you that spending some money with them now will save you lots more later. However, it isn't easy to separate honest over-the-top sales pitches from the outright scams. Meanwhile, travel clubs are also among the most problematic opportunities dangled in front of you.

The question is how can you tell if this travel club offer is legitimate or not. The problem club operations are those that ask for big bucks in up-front membership fees on the promise that members will get great deals in the future. Among these are the more benign subset consists mainly of timeshare promotions in disguise, presumably, to avoid the timeshare label, widely viewed as flawed.

All too often, law enforcement officials warned that the promised discounts and savings never materialize. The promoters provide prices that are no better than travelers can buy openly, through a wide range of discount sources, and the promised dream vacations never seem to become available.

Meanwhile, some very high-end vacation clubs actually own a string of vacation properties. That is, members share in the ownership of these properties, and the club operator agrees to repurchase for a reasonable price. Most mass-market timeshares, however, offer no asset value to back up your initial investment. At best, you own your membership and can sell it or pass it along to your heirs. However, some timeshare deals are for the term of your life only and will revert to the owner on your death.

On the other hand, beyond the resort aspects, challenge all claimed discount deals and don't be gullible. Try to ask about the specifics of a few available discount deals, and check them out before you accept any broad claim of great prices. Also, try to google the promotion or vacation club and check with a few of the gripe sites to see if the operation has generated any serious complaints or, even worse, law enforcement actions.

Saturday, August 14, 2010

Transfer Smart News: Timeshare Resale Firm Announces its New Services

With the many owners trying to get out of their timeshare contracts, resale companies are also flourishing. Such companies will do the transactions for the owner in order to sell its timeshares. One of these companies is Sell My Timeshare NOW which is considered a global leader in timeshare resales and rentals. Recently, it announces that the company is expanding its services, introducing important new options for timeshare owners.

According to Jason Tremblay, the company's founder and CEO, says, timeshare owners want and need choices in how they resell their timeshares. In addition to the owner-advertising option, they are expanding their timeshare brokerage service capabilities and will begin presenting those services as an additional option when sellers contact them.

As part of the new business model, Sell My Timeshare NOW is transitioning to a sales team almost exclusively comprising of licensed real estate professionals. The company is serious about de-emphasizing that timeshare advertising is its primary product. It has been conducting in-house training at the corporate offices in Dover, New Hampshire in order to help prepare employees for the required testing they will face in obtaining state real estate licenses. Tremblay added that he sees this as investing in the company by investing in its employees, and that SellMyTimeshareNOW will also be looking to hire additional licensed real estate professionals for its Orlando, Florida offices.

Sell My Timeshare NOW offers by-owner timeshare advertising which is sold by trained timeshare sales professionals. Its affiliate Timeshare Broker Services, on the other hand, offers a full range of professional real estate services. In 2009 alone, the company's websites generated 61,743 offers to buy timeshare resales and 85,949 offers to rent timeshares. Meanwhile, consumers who want to get rid of their timeshares by reselling it through Sell My Timeshare NOW, they must pay a one-time advertising fee for sale-by-owner advertising and marketing that the company provides through its highly visible, well-positioned websites. The owner's timeshare ad remains on the company's websites, continuing to be marketed until it sells.

Friday, August 13, 2010

Transfer Smart News: TATOC Launches Sharetime Website to Reach More Timeshare Owners

With the many owners trying to get out of their timeshare contracts along with its number of predicaments, some associations were formed to represent its interests. The TATOC or the Timeshare Association is one of these and was formed in 1989. It is the only elected consumer association representing the interests of timeshare owners in Europe. Recently, TATOC announced that its magazine Sharetime will be available to all timeshare owners through a new dedicated website, sharetimemagazine.com. In the future, the quarterly magazine will be in digital format only.

Previously, Sharetime was only printed and distributed to just its member resorts. Now, it will be available to all timeshare owners through the dedicated website, sharetimemagazine.com. Both the Sharetime website and the magazine will contain news, features and articles of interest of today’s timeshare owner and owner committees representing resorts in the UK and Europe. The next issue of Sharetime is set to be published this September.

Meanwhile, TATOC represents over 80 resorts throughout Europe and has access to over 250,000 timeshare owners. The aim of this magazine is to provide a positive image of the industry to both timeshare owners and the general public. On the other hand, Sharetime magazine will support the efforts of TATOC to promote timeshare, protect consumers from scammers and to secure the future of a legitimate industry for its members to continue to enjoy. The new digital format will allow this message to be spread even further.

According to Harry Taylor, TATOC CEO, they want to ensure that TATOCs message reaches as many timeshare owners as possible and the new digital version of Sharetime and the site itself will help us achieve this. The launch of the new Sharetime website and online magazine has created a number of advertising and promotional opportunities for businesses and vacation resorts.

Tuesday, August 10, 2010

Transfer Smart News: US Timeshare Resale Company Acquires Canadian Resale Firm

With the number of owners who are trying to get out of their timeshare contracts increasing every year, there is an apparent for timeshare resale companies. Meanwhile, deciding which resale company to work with does matter. Recently, SellMyTimeshareNow.com, considered one of the world’s largest and most respected online timeshare resale and rental marketing organizations, has recently announced the acquisition of the primary asset as well as the customers of Canada’s leading timeshare reseller, RapidResale.ca.

According to Jason Tremblay, CEO of SellMyTimeshareNow.com, during the recent months, RapidResale founder April Cummins has become more involved in sales and marketing efforts for Canadian developers and sought a company to whom she could entrust her resale business, one that would take over the management of the existing website and the servicing of its customers. Due to their high level of success and national recognition, April asked if they would be willing to acquire this segment of her business to ensure a high level of continuing service for her customers.

Tremblay added that the six-year-old RapidResale website is already a highly trusted, well-optimized, perfectly positioned site that ranks extremely well with Canadian search engines. They are excited about the acquisition since it will provide their web-based company opportunities to further expand their presence in Canada. Links on their website will lead potential renters and buyers to the Canadian site, benefiting everyone involved. Their ultimate plan is for all of their sellers’ properties to be displayed on all of their websites including RapidResale.ca.

Founded in 2004, the RapidResale.ca is the domain name for Secondary Solutions Group which is an Ontario-based Canadian timeshare resales leader with a solid reputation for success and its growth into a multi-million dollar organization. The company also provides sales and marketing solutions to developers of shared-use vacation properties. On the other hand, SellMyTimeshareNow.com is recognized as a global leader in online timeshare resale and rental marketing, with over $427 million in offers through its websites in 2009.

Transfer Smart News: Timeshare Industry Gives Refunds to Federal Allegations

Today, there are numerous complaints in the timeshare industry and thus, many owners want to get out of their timeshare contracts. But in Broward County, Florida and across the country, owners will soon split $562,000. This is an amount equal to the illegal contributions collected by the political fundraising arm of the US vacation industry from 2003-2007.

The said payout is a part of a deal between the industry and the Federal Election Commission to settle civil allegations of wrongdoing in the solicitation and distribution of millions of dollars in political contributions. The American Resort Development Association - Resort Owners Coalition PAC will also pay a $300,000 civil penalty. This is the largest fine imposed by the FEC since 2007.

According to ARDA, the errors were made in the collection of contributions but called them unintentional and unfortunate. ARDA's Washington attorney Mark Braden said that ARDA has taken proactive steps to suspend any improper practices and rectify past errors in an open and transparent way.

Meanwhile, the sale of vacation timeshares is a $10 billion-a-year business, with a large footprint in South Florida. In 2008 alone, 4.7 million households owned one or more weekly interval or points-equivalent timeshare properties as cited in ARDA's website. Moreover, Florida has more timeshare resorts than any other state.

ARDA is the industry's Washington-based trade association and also a major lobbying force on Capitol Hill and in Tallahassee. As shown by Federal records, since 2006, ARDA has spent more than $1.1 million on Washington lobbyists to oppose such things as mortgage reform legislation, including the expansion of truth-in-lending requirements to timeshare buyers.

Meanwhile, ARDA-ROC PAC has contributed hundreds of thousands of dollars to Republicans and Democrats and nearly all that political money came from tens of thousands of timeshare owners who paid them in small amounts to their property management companies as part of their regular bills. In 2008, the FEC disclosed that timeshare owners had been misled into donating to ARDA-ROC PAC while paying their regular vacation property fees. Political contributions are voluntary, and federal law requires solicitations to make that clear. At least three of ARDA-ROC PAC's solicitations lacked that information.

Sunday, August 8, 2010

Transfer Smart News: Bluegreen Corp. Shows a Boost in its Timeshare Sales

Although there are still a number of owners who are trying to get out of their timeshare contracts, the recovering economy is making it a favorable condition for this industry. The timeshare business is already showing a sales boost this year. One of these companies is the Bluegreen Corp which although the earnings were off 37% in the second quarter, it sales of its timeshare resorts expanded.

The Boca Raton-based company had a net income of $4.3 million, or 14 cents a share, on revenue of $107.4 million. In the same period last year, it posted a net income of $6.8 million, or 22 cents a share, on revenue of $90.1 million. The results in the second quarter of the year 2009 included a one-time tax benefit of $4.6 million.

The bulk of Bluegreen’s revenue growth came in sales of timeshare resorts, which increased 33% quarter-over-quarter. Bluegreen had 40 timeshare resorts and hotels under management as of June 30, which is up by three from a year ago. However, the sales of homes in Bluegreen Communities declined and made up a relatively small portion of the company’s revenue.

The company held $744.6 million in outstanding loans to Bluegreen timeshare buyers and as of June 30, 3.8% of that was past due by more than 30 days. As for its own debt, Bluegreen said it had two receivable loans that are set to expire near the end of August. Meanwhile, it is talking to lenders about renewing or extending those loans. The company also had $40.5 million of receivable-backed loans outstanding as of June 30 and $63.6 million in unrestricted cash. This year, businesses about vacation properties like timeshares shows a great improvement compared to the previous year. Bluegreen Corp. is one of those companies that shows an improvement in their timeshare resorts’ sales.

Thursday, August 5, 2010

Smart Ways to Sell Your UK Timeshare Property

The UK is considered a popular location for timeshare holders nowadays. Places like London, Kent, Balcombe, Lancaster, Bournemouth, Bradford-on-Avon, Norwich, Callington and Canterbury are especially sought after by many holidaymakers. But no matter how great a location is, many people today are in need to minimize their expenses. One of these is to get out of their timeshare contracts.

Timeshare costs and charges can build up over time and become a heavy load for many owners. These charges are probably one of the most common reasons why owners want to sell their timeshare property in the UK today. But when it comes to selling a timeshare, owners should be aware of a number of things to successfully close a deal.

First, watch for hidden fees when you sell your timeshare especially when working it out with reselling company. Make sure you have a clear understanding about the actual costs and charges you will be responsible for. Make sure also that that reselling company has a good reputation. There are many scams nowadays and you should be aware of it.

One of the best ways to check out the company is to go into Google.com and type in the name of the company you’re dealing with and the word scam. This will typically bring you a few discussions on the subject. You will be able to quickly determine whether there have been a lot of complaints or not. Discussion forums are also a great place to find this information. If however you see several complaints then, be very wary about conducting any business with that company. Moreover, choosing to sell a vacation property such as timeshares can be a big decision and you should practice your due diligence in order to avoid scams.

Wednesday, August 4, 2010

Knowing Smartly the Timeshare Financing Options

Although there are several owners who are trying to get out of their timeshare contracts these days, many holidaymakers are into timeshare ownership as a way to vacation. Meanwhile, some people opt for loans to pay for such purchase. And once a timeshare is financed, they can opt for refinancing. Refinancing refers to the replacement of an existing debt obligation by another debt obligation of different stipulations. Be warned though that there are also risks involved with this. This article presents some insights into the common timeshare refinancing options.

First, check your personal credit report as a bad credit usually results to a higher interest rate to refinance a timeshare. You may also order a copy of your credit report before contacting a lender. Your aim here is to get as lowest rate as possible.

You may also contact a timeshare refinancing company. Today, several companies specialize in timeshare refinances wherein you can obtain a better interest rate or extend your loan term. Look at 3 to 4 different companies and request a no-obligation quote.

Another option is to refinance the loan with a bank or credit union. Banks and credit unions typically offer the lowest interest rate on timeshares. You may purchase the timeshare with in-house financing first and then refinance it at a later date.

Moreover, you can apply for a home equity loan or cash-out mortgage refinancing for your timeshare. You'll then receive a lump sum of cash which can pay off the timeshare loan since home equity loans and mortgage refinances have lower rates, you'll then save money.

On the other hand, the best option when purchasing a vacation property such as timeshares is still to pay through cash. But for those who are interested in buying a timeshare can also use the above-mentioned options to obtain funds for the purchase. As refinancing a timeshare is considered a risky option, any potential owner must look at the details of these options in any aspect before jumping to any deal.

Tuesday, August 3, 2010

Transfer Smart News: Accor Vacation Club Standout during the ATHOC Awards

Recently, the Timeshare Industry held its 19th annual National Industry Awards designed to recognize the best of the best in each Member Company’s employees and Accor Vacation Club was the standout performer, taking five of the night’s major awards for Marketing, Innovation and Sales Team amongst others. Although many owners are trying to get out of their timeshare contracts these days, this vacation club still get a 2800+ members this year.

According to Craig Wood, CEO of Accor Vacation Club, their business has proven its resilience over the last 12 months. Having a quality product offering exceptional value for money always gives you an advantage in any market conditions, but without doubt their success can be attributed to the individual and team efforts their members of staff have made over the past year.

Wood added that all of Accor Vacation Club’s employees have been pushing for excellence in 2009/2010 to achieve their goals that then reflect back positively to their 28,000+ Members. This is constantly reinforced by the positive feedback and comments that they receive from their satisfied member base. Wood further stated that that awards are recognition of the hard work and effort provided by all of the team at Accor Vacation Club and the support that they receive from their parent company ACCOR.

Accor’s commitment to their members is to provide a world-class service, and these awards recognize their commitment in employee development to achieve this objective. Wood congratulates all their Accor Management and staff who are extended to these new industry ambassadors of Accor Vacation Club.

Monday, August 2, 2010

Transfer Smart News: Wyndham Cites Revenue Boost in Timeshare Business

Although many owners are trying to get out of their timeshare contracts these days, a number of timeshare companies are already showing revenue boosts as the economy is on its way to full recovery. One of these companies is the Wyndham Worldwide Corp which recently lifted its 2010 outlook, citing increasing strength in its lodging, timeshare and vacation exchange businesses, and its shares shot up as much as 10.1 percent.

The company, which franchises hotels under the Days Inn, Ramada and Super 8 brands, stated that it also is benefiting from a revised tax structure this year. This year, it forecasts full-year earnings per share of $1.78 to $1.88. This beat out analysts' expectations of $1.68.

Meanwhile, the full-year revenue is projected to fall between $3.7 billion and $4 billion. Analysts on the other hand had forecast $3.8 billion. According to Chief Executive Stephen Holmes, each one of their businesses was ahead of their expectations, and they felt that momentum would help them through the rest of the year.

Wyndham's timeshare segment makes up about half of its overall annual revenue. Vacation exchange and rentals make up 31% while lodging makes up almost 20%. The bulk of Wyndham's more than 7,100 hotels fall into the low-cost or economy segment which typically do not see the dramatic swings in room rates and occupancy that luxury and upscale hotels tend to experience.

Although there are a number of owners trying to get rid of their timeshares, Wyndham's domestic revenue per available room or revpar, rose in June and it continue during the first three weeks of July. As Holmes said, they're seeing a strengthening and some momentum building and they have continually said the recovery will be gradual. Wyndham predicts revpar will rise as much as 3% in 2010, compared with the previous projection of flat to down 3%.


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