South Africa’s Southern Sun Hotel Interests Limited “Southern Sun” has signed an affiliation agreement with Interval International timeshare exchange company.

Included in the agreement are Southern Sun’s six existing Lifestyle Resorts, (timeshares) which represent one of the largest South African vacation ownership programs. Any Southern Sun Hotel properties added during the term of the contract between Southern Sun and Interval International will also fall under the affiliation agreement.

Interval International will provide the Southern Sun South Africa timeshares with a comprehensive package of customized services, including back-office points based reservation services and program-design support and enabling Southern Sun hotels and timeshares to offer both deeded and points based timeshares.

South Africa Timeshare is a Destination on the Rise

South Africa timeshare offers vacation options that range from big game to beautiful beaches to great golf and safari explorations. For US travelers (and vacationers from many other parts of the world), a South Africa timeshare vacation includes an added perk … a beneficial currency exchange rate. Currently the US dollar still exchanges at approximately 1 US dollar = 10.2005427 South African rand. This means that your money will go a long way paying for food, restaurant dining, entertainment and travel within the country, making your South Africa timeshare resale a truly excellent vacation opportunity.

More Opportunities in South Africa Timeshare from Sell My Timeshare

• Bushman’s Nek Berg and Trout Resort Timeshare Resale
• Chakas Rock Chalets Timeshare Resale
• St. Michaels Sands Timeshare Resale

We know that the economy is bad and that hoteliers and timeshare developers are taking a real hit right now from the credit crunch. But just how bleak the picture really is, seems to depend on where you get your information.

A Negative Perspective on the Timeshare Market

This past week Reuters news ran an article titled, “The Timeshare Industry Squeezed by Credit Crisis,” in which they explained that credit for consumers to finance timeshare purchases is harder to come by, and, “… the securitization market for hotel companies selling bonds backed by timeshare deals has mostly closed its doors.”

The article quotes Jeremy Glaser, lodging industry analyst at investment research firm Morningstar, “In the last few months, sales have really dropped off a cliff – consumer credit is really disappearing in a lot of ways.” To this, they added the following less-than-cheerful comment from Bjorn Hanson, lodging industry veteran from New York University, “The syndication (securitization) market has all but gone.”

The Reuters article closes by pointing out that as consumers examine their budgets, discretionary spending will be the first item they cut, with Hanson reiterating, “Among discretionary spending, vacation ownership (timeshare) is high on that list.”

A More Upbeat Slant on Timeshare and Travel

On the same day, the British-based travel website, Travelmole USA Newswire reported on improving optimism among American travelers. According to research gathered in a special edition of Destination Analysts’ The State of the American Traveler survey, a survey of 800 American leisure travelers conducted in mid-November showed that optimism about future travel plans was on the rise. In July of this year, nearly 29 percent of those surveyed stated that they were planning to travel less for leisure. By November, that number had dropped to 21 percent. Additionally, one third of those recently surveyed said that leisure travel was a high or very high priority for them in upcoming months.

What’s the Real Story on Timeshare Sales?

What to take away from these two differing perspectives? Besides the reaffirmation of the adage that events are rarely as bad or as good as they seem, the other important point to consider is that timeshares purchased new from the developer and timeshare sold on the resale market are two very different types of purchases. At The Timeshare Authority, we tend to think both sides of the story are partially correct.

The days of under qualified buyers overpaying to buy and finance timeshare they really can’t afford may be over … at least for the time being. On the other hand, with travelers saying they are sufficiently optimistic to be planning new travel, there will be plenty of demand for the types of great value and good deals available in timeshare resales and timeshare rentals.

The Orlando Sentinel ran a story this week painting a grim picture for timeshare company employees nationwide, but especially in Central Florida. Workers in Orlando stand to be hit extra hard because the city’s 125 timeshare resorts, and approximately 28,000 timeshare units, qualify Orlando as the top timesharing city in the world.

Reductions at Wyndham Timeshare

According to the OrlandoSentinel.com (and other sources), Wyndham Vacation Ownership (Wyndham timeshare) is cutting a quarter of its companywide workforce, many of whom will be lost from the Orlando offices. Some 4,000 layoffs are anticipated for Wyndham timeshares overall.

Wyndham plans to gear down from annual sales of about $2 billion to approximately $1.2 billion in 2009. The Orlando Sentinel quoted Franz Hanning, chief executive officer of Wyndham timeshare, as saying, “We really don’t see those markets (the credit markets) reappearing for the foreseeable future … We want to take a proactive approach.”

Layoffs at Westgate Resorts Timeshare

At Orlando’s Westgate Resorts, rumors are circulating that the timeshare company stands on the brink of bankruptcy. David Siegel, founder and CEO of Westgate timeshares, insists there is no truth to the rumors, but does confirm that another 1,000 jobs will be cut at Westgate, following layoffs of more than 3,000 workers already this year.

Changes in timeshare sales will not necessarily hurt or help the timeshare resale market. While more people may be looking to resell their timeshare, putting more properties on the market, there may be equally as many people who recognize the value in timeshare resales over new timeshare, creating a strong demand in the resale market.

As with many things that are happening now … time will tell.

Already a success as an e-magazine, Owners Perspective Magazine will be available in print format starting with the January edition. The publication brings consumers, particularly timeshare owners and prospective owners, the latest information about the timeshare industry while creating a platform for businesses to build brand awareness within their target market.

Yesterday’s post on The Timeshare Authority gave you some overall information about Owners Perspective Magazine, but today’s information will give you a much closer look.

Owners Perspective Magazine is carving out their rightful place in the timeshare and vacation ownership industry:

Sell My Timeshare NOW is proud to be a partner with Owners Perspective Magazine as they continue to grow their readership.