ARDA (the American Resort Development Association) has introduced its annual contest for timeshare owners. Enter your vacation photo, story, or short video (up to 3 minutes) depicting a special timeshare vacation memory and you could win a $1,000 American Express gift card. Your entry should represent a special timeshare vacation memory, according to ARDA, that had a meaningful effect on your family, your health, or your overall enjoyment of life.

ARDA has always promoted the fact that taking regular vacations is not just fun, it’s good for your health and well-being. Last year, ARDA launched a new website, VacationBetter.org with the purpose of spreading the message, and encouraging more people to simply “Vacation Better”.

Since the contest runs from May 15, 2009 until August 31, 2009, if you don’t already have that special timeshare vacation memory, you have all summer long to buy timeshare resales or rent timeshare and MAKE a memory.

Statistics show that more than 47 million Americans will not use all of their vacation days, proving that we don’t all “get it” when it comes to the importance of leisure time and days spent on holiday. Yet, perhaps the ease, convenience, and long-term value of timeshare, are reasons that, according to Owners Perspective Magazine, “…vacation ownership properties are experiencing more than 80 percent occupancy rates as of March 31, 2009.”

VacationBetter.org will award 3 first place winners, one for photography, one for their written story, and one for video. In each of those categories, there will also be a second place winner, who will receive a $250 American Express gift card. For the complete contest rules, click here.

Ron Goldberg, the president of Wellington Financial has been invited to serve as a member of the Board of Directors of ARDA, the American Resort Development Association.

In serving as a member of the board, Goldberg brings a unique timeshare resort industry perspective, as Wellington is the exclusive resort finance-lending correspondent for Liberty Bank and has long been recognized as a specialist in lending money for the development of timeshare resorts, fractionals, and retail land.

Howard Nusbaum, president and CEO of ARDA says, “We are excited to have Ron Goldberg’s expertise on our resort developer association board. The present economic environment especially as it relates to the sluggish credit markets is a problem for any business which must access the capital markets for operational funds. Both Mr. Goldberg’s and Wellington’s expertise in this arena will add value to our Association dialogue as we work to secure more funding for timeshare.”

Ron Goldberg has been involved in finance related services for the timeshare industry for more than 28 years. His presence on the ARDA Board of Directors evidences ARDA’s commitment to supporting the needs and challenges of the timeshare industry with targeted sensitivity to special needs created by this economy.

In their Business and Tech News, Time Magazine (dateline April 30, 2009) describes timeshare resales as a “buyer’s market” … and in many ways, they are so right!

Time took a long look at the timeshare resale market. They spoke with timeshare industry experts and even profiled a recent timeshare resale buyer at Sell My Timeshare NOW.

“When 67-year-old Gary Furbee and his wife Rose decided to go shopping for a time-share vacation home in Hawaii, they couldn’t believe the bargains. The couple had rented a two-bedroom ocean-view penthouse unit at Marriott’s Ko Olina Beach Club on Oahu in 2007, liked it and resolved to watch for resales. The Furbees thought the recession might flush out some distressed sellers, but they were stunned by how far prices had plunged. ‘At Marriott, it was [listed] for between $50,000 and $60,000, but we paid $18,400,’ Gary says. He bought their time-share through SellMyTimeshareNow.com one of a number of resale sites. ‘We don’t know if the person was in financial problems or needed the money, but we thought we would take advantage of it.’”

What the Experts Had to Say about Timeshare Resales

Scott Berman is a widely known expert on hospitality and leisure trends for PricewaterhouseCoopers. He explains in the Time article that even he has been surprised by how swiftly the timeshare sales industry has felt the impact of the current troubled economy. Berman says that timeshare sales have been influenced by the tight credit market resulting in less money available to consumers to borrow for buying timeshares and at the same time, there being a “glut” of properties available to buy as timeshare resales.

Yet adding an interesting twist to Berman’s insights is his own personal story of buying timeshare. In 1997, Berman bought a Colorado timeshare for less than $40,000. Today, that timeshare sells for $125,000 on the resale market. That’s right, contrary to the warnings you hear from consumer groups, governmental agencies, and even from us, here at Sell My Timeshare NOW, telling you to never buy timeshare with the idea that its value will appreciate, there are some timeshares that do increase in value.

Howard Nusbaum, president of ARDA, the American Resort Development Association cautioned prospective timeshare buyers in the Time article, “Don’t buy it to flip it.” Nusbaum warns that even when timeshare resales are temptingly inexpensive, know what you are buying before you sign on the dotted line; timeshares are “vacation plays, not investment plays.”

Timeshare Resales: Opportunities Abound

The Time magazine article says that Hawaii, Las Vegas, and Orlando have some of the largest inventories of timeshare resales on the market and are therefore places to shop for exceptional deals in timeshare resales. All three locations have long been popular vacation destinations. The first timeshares in the US were built in Hawaii where timeshare particularly suited a local culture that wasn’t eager to permanently sell their homeland to people from outside the islands. And Hawaii timeshares have had to deal with the added challenge of rising travel costs leading many US vacationers to bypass the expense of airfare to Hawaii and opt for a mainland vacation.

Orlando is year-in and year-out one of the top family vacation destinations in the world, while Las Vegas is one of the leading grown-up vacation destinations … it makes sense that you would find many timeshare resorts in both places. Since both locations offer nearly year-round climates, it makes sense that you will find plenty of timeshare, both new and timeshare resales available in both cities.

But for all the abundance in the market, there are still major timeshare developers moving ahead on new Orlando timeshares, new Hawaii timeshares, and new Las Vegas timeshares, even though the rate of development has slowed. Development is also moving ahead in other locations. If you are shopping for a great deal on a timeshare, don’t assume your options are limited to areas where timeshares abound.

There are great deals to be had in timeshare resales across the market, in “hot” destinations as well as in urban timeshares, regional vacation spots, and places that are truly off the beaten path. The bottom line is that for a variety of reasons, there are excellent opportunities available now in timeshare resales around the globe. And as the Furbees discovered, there is no one better than Sell My Timeshare NOW to help you find that ‘just-right’ timeshare.

Follow this link to read the full article online or look for it in the May 11 print edition of Time Magazine, available at your local newsstand soon.

It is hard to say which is the greater problem: the economy itself or consumer concerns about the economy. Either one gridlocks the flow of money as people spend less and worry more.

Both problems have worked against timeshare developers who must carry on despite there being fewer qualified timeshare buyers and greater reticence to part with their money by those who do have sufficient income to buy timeshare.

The gridlock stops being only a timeshare developer problem and takes on widespread economic impact in any state where timeshares represent a significant part of the hospitality industry and tax base. In Florida, home to more timeshare resorts than any other state in the US, the challenges that have faced the timeshare industry translate to a statewide problem that calls for legislators and the industry to work collaboratively on any measures that could potentially translate to relief.

Help for Florida Timeshares

Florida House Speaker-designate Dean Cannon, has been working with lobbyists for the timeshare industry on a plan that will permit Florida timeshare companies to sell debt cancellation policies as part of a timeshare mortgage. Functioning like insurance, such policies would provide a consumer who buys timeshare from the developer with debt forgiveness in the event he (or she) loses his income.

Jason Gamel, vice president of state government affairs for the American Resort Development Association, was quoted by the Orlando Sentinel as saying, “It’s another good product that would allow developers to facilitate sales of time shares, bring tourists to Central Florida and give people comfort about their purchase.” Gamel compared the timeshare mortgage forgiveness policies to a type of travel insurance.

Westgate timeshare is among the Florida timeshare companies lobbying for this legislation. Westgate timeshare already sells similar debt-forgiveness policies as an option with their Nevada timeshares and their California timeshares.

The caveats of the policies have yet to be worked out, but one assumes that they cover loss of income by the head of household due to job loss or death.

The legislation (HB 61) has passed the Florida House and has been sent to the Senate for discussion. With only a couple of weeks left in the 2009 legislative session, approval of the plan may go down to the wire.

Have you seen the April edition of Perspective Magazine? If you attended the ARDA Convention last week in Orlando, you had the opportunity to see an advance copy. If not, then you may have just recently read the online edition or received your print copy in the mail.

Perspective featured Sell My Timeshare NOW in a section of the publication known as “Who’s Who in the America’s?” The article is titled “The Right Time and the Right Solution for Timeshare” and looks at how Sell My Timeshare NOW’s business model for the online advertising and marketing of timeshare resales and timeshare rentals has impacted the timeshare industry and the ways people buy, rent, or sell timeshare.

Perspective explains: “By using aggressive and well-timed internet marketing strategies, Sell My Timeshare NOW drew over 25 million visitors to its website in 2008. The company achieves ‘Page 1′ position in search engines such as Google for almost any timeshare related word or phrase a consumer might use when searching the internet for timeshare information. As the company has expanded its services from by-owner online resale and rental advertising to include rental assistance services, timeshare brokerage services, and comprehensive developer solutions, it has grown from three employees to more than 160, with offices in New Hampshire and Florida.”

Calling it “Timeshare Resale Solutions, One Click at a Time,” Perspective points out that when our company was founded, almost six years ago, the internet was wide-open territory, unexplored for the real potential of timeshare owners to buy, sell, or rent timeshare via the World Wide Web. A lot has changed over the past six years, and we think it has a great deal to do with changes in marketing in general. Today’s consumer is far less inclined to be influenced in his or her buying decisions by advertising efforts than by consumer-to-consumer interactions.

Whether they are booking vacation accommodations or buying a new car, most people do at least part of their research on the internet, giving real consideration to the feedback from other consumers. All things considered, it is a positive change that today’s businesses are recognizing the impact of social media marketing, and are giving the power of decision-making back to the consumer, where it should have been all along.

Thank you Perspective for sharing our story, and thank you to all our clients and customers who have helped make Sell My Timeshare NOW a success story with exciting future chapters still to be written, and many happy endings still ahead for timeshare owners.

Disney Vacation Club Timeshare’s Jim Lewis to be the new Chairman of the American Resort Development Association Board of Directors.

The American Resort Development Association announced this week that Jim Lewis, president of Disney Vacation Club Timeshare, has been elected Chairman of ARDA. ARDA is the Washington, DC-based trade association that represents the timeshare and vacation ownership industries, and if you were reading recent postings on The Timeshare Authority, you know that ARDA just last week convened its annual convention and educational conference.

The Right Leader for ARDA Timeshare Association

Jim Lewis is CPA, and holds an MBA from Purdue University. A resident of Orlando, Florida, he is active in both civic and faith-based organizations. In 2007, the Orlando Business Journal named Lewis as one of the ten most influential businesspeople in Central Florida. He has served on the ARDA Board of Directors since 2004, as well as holding numerous committee and steering committee positions.

He sees his new appointment like this, “It is both an honor and a humbling responsibility to have been chosen by my peers to lead the Association at this unique time. I am confident that, together, we will work through the present economic obstacles and continue to provide the excellent family vacation experiences that millions of Americans want and deserve.”

Howard Nusbaum ARDA’s president and CEO says, “ARDA and the vacation ownership industry are fortunate to have Jim Lewis’ leadership during this particularly challenging time in our history. Jim’s passion for the product and in-depth knowledge of the industry puts ARDA in very capable hands at a time when the industry needs to work together. His personal integrity and commitment to industry excellence makes him the right leader at the right time.”

Chairman of the Board of Directors of the American Resort Development Association is a two year position. Jim Lewis replaces Jon Fredricks of Welk Resorts as chairman of the ARDA Board.

After a beautiful week in Orlando at the American Resort Development Association 2009 Convention and Exposition, I want to first congratulate ARDA for another meaningful and informative event. Several members of the Sell My Timeshare NOW team were there, and all of us found the week to be power-packed with educational experiences and networking opportunities.

When asked what I take away from the ARDA 2009 Convention, it is this: the atmosphere in the educational sessions and committees was almost as bright as the Florida sunshine outside. The movers and shakers of the timeshare industry clearly are not letting the challenges of the economy and the tight credit market get them down. Instead, they are meeting these challenges head-on.

When you think about it, why would we be surprised at this? Many of the people who have helped build the timeshare industry and who make it so exciting today are true entrepreneurs; they are visionaries, dreamers, risk takers, and at the same time, excellent business people. The meetings at ARDA were filled with great minds and energetic leaders who are problem solvers and solution builders, rethinking many things about the ways timeshare is bought, sold, rented, marketed, managed, designed, operated, and advertised. If the economy is no longer a perfect fit for your business model, you do what these bright and creative minds are doing, you reshape your model.

The Timeshare Industry is Rethinking Vacation Ownership

Change was already underway in timeshares before the tough economy reconfigured the playing field. The internet has given rise to new ways to buy, rent, or sell timeshare, and created great momentum in timeshare resales. Gen X’s are redefining the ways people shop, share their opinions, and spend both their money and their time. The timeshare industry was clearly primed for a change, even before the US and global economies began pushing everyone into new buying, selling, borrowing, and lending patterns.

So when you ask me what I found at the ARDA 2009 timeshare convention, I am going to tell you that I found an amazing energy and fresh spirit of optimism from dedicated and hardworking timesharing industry professionals. The world around them is changing, but timeshares are clearly not going to be left behind.

Thank you again, Howard Nusbaum and everyone at ARDA who worked so hard and produced such a meaningful convention for the timeshare industry.

Ed Hastry discusses the role of the NTOA in educating timeshare owners about the use of their timeshares and important issues facing the industry.

 

 Interview with Ed Hastry, President of the National Timeshare Owners Association [4:22m]: Play Now | Play in Popup | Download

New guidelines for timeshare resale companies in the works by ARDA.

The Timeshare Resale Forum at last week’s American Resort Development Association Convention in Orlando was pretty exciting in terms of future directions for the timeshare industry. With roughly 100 participants from all areas of timeshare resales present, it was great to see such a strong level of participation and enthusiasm. Right now, ARDA is working to craft a much needed Code of Ethics for timeshare resale companies.

ARDA currently has a Code of Ethics that covers all member businesses. Complaints about a company or its practices are referred to the ARDA Ethics Committee for discussion and possible revocation of membership , depending on the severity of the complaint. The new guidelines will center more on timeshare resale companies and ARDA’s role in potentially policing them.

New ARDA Guidelines for Timeshare Resales

Three primary themes were discussed at the Forum: Disclosure, Transparency, and Enforcement. I could not feel more strongly about the pressing need for these types of guidelines for timeshare resales. If you read The Timeshare Authority regularly, you already know my conviction that standardizing timeshare sales, timeshare resales, and timeshare rentals benefits the timeshare industry just as much as it benefits the consumer.

Greater disclosure in the marketing and sale of timeshare resales would address areas such as costs, with the guidelines requiring all costs be discussed with the consumer at the start of the timeshare sales process, thereby eliminating the possibility for surprise, or ‘hidden fees’ cropping up later.

Transparency in the timeshare resales process would cover marketing practices and what the consumer will actually receive in services from a timeshare resale company. Transparency will also help standardize the reporting of the sales results a timeshare resales company achieves, as well as addressing how the company can use those claims in its marketing. In other words, timeshare buyers will be able to compare apples to apples when looking at the timeshare sales results published by different resale companies.

New timeshare resale guidelines for enforcement will deal more with ARDA’s role in holding timeshare resales companies accountable for their marketing, advertising, and sales practices. Like the guidelines in ARDA’s present code, after review by the Ethics Committee, ARDA members breeching the new resales code may be subject to expulsion from ARDA.

Sell My Timeshare NOW and the New Code of Timeshare Resale Ethics

As a part of the timeshare industry and an active member of ARDA, Sell My Timeshare NOW welcomes the additional scrutiny that an expanded code of ethics for the resale market will bring. Timeshare resale companies should provide information and verification about their timeshare sales results and the claims they make to consumers. In fact, I’ll go even further and call for independent, third party evaluations to substantiate these claims. As an industry, we need to do everything we can to raise the bar for integrity of standards in timeshare resales.

ARDA’s new timeshare resales guidelines are expected to be finished sometime this summer and The Timeshare Authority will keep you apprised of developments along the way.

Shep Altshuler publishes one of the most influential timeshare owners magazines in the country. He has a unique perspective on owner issues and shares his thoughts on the industry and what is important to today’s owners.

 

 Timesharing Today Magazine publisher Shep Altshuler discusses the state of the timeshare industry. [4:07m]: Play Now | Play in Popup | Download