Taking a similar path to timeshare sales and timeshare resales legislation being negotiated by concerned governments worldwide, Alberta Canada timeshare laws are getting more stringent. In an effort to offer Canada timeshare owners more protection, the government of Alberta is revising its current timeshare laws and regulations that originally were enacted more than a decade ago.

Effective November 2010, the new regulations will require everyone in the timeshare industry in Alberta to obtain a license from the provincial government and to disclose their business terms and conditions. Amending the Time Share Contracts and Points-based Regulation, under the Fair Trading Act, all timeshare sales and timeshare related businesses will be required to pay $200 to obtain a license and also to post security. The terms of the security are still under negotiation.

Chris Wein, President of multifamily operations at Calgary’s UBG says the government in Alberta Canada is playing “catch-up in terms of business and legal trends.” He adds that he sees this effort as providing greater protections for Canada timeshare owners, buyers, and sellers.

Buying trends in Canada timeshare have recently indicated increasing popularity in fractional ownership real estate, away from consumer purchases of traditional timeshare. If this pattern sustains, it could result in greater numbers of timeshare sales on the secondary market as owners transition from timeshares to longer-term fractional ownership.

Follow this link to find current Canada Time Share regulations

RCI Middle East and North Africa Managing Director, Jeff Tisdall, has an interesting observation to make about Middle East timeshare and Dubai timeshare specifically. “From a consumer perspective, the financial crisis helps to highlight some of the key advantages of timeshare. When times are tougher economically, we all tend to use what we already have,” Tisdall explains. “If you looked back 12 to 18 months, the strength of the residential market made it very difficult for established vacation clubs to enter the Dubai market by acquiring a block of residential units and then offering them to their member base. Today, conditions are much more favorable.”

In other words, when the economy was stronger, so was the Dubai real estate and vacation property market for sales of property to individual owners. Now, fewer people are laying down the cash it takes to buy a holiday home in the Middle East and developers, who once held a firm grip on many of the most highly prized destinations, are suddenly embracing the concept of shared ownership. Egypt timeshare and fractionals have seen success in Sharm El Sheikh (in the southern tip of the Sinai Peninsula in Egypt) and Hurghada, (in the Red Sea Coastal area of Egypt) both of which are areas where timeshare owners continued to travel, despite the tight economy.

Dubai Timeshare Stands Out

According to Tisdall, investors are looking at shared ownership and mixed use developments in Dubai with interest. “This is because the fundamentals which analysts look for when predicting strong potential for timeshare are all present in Dubai. Most importantly perhaps, Dubai is really starting to mature as a leisure destination,” said Tisdall.

These topics and others will be covered at the Shared Ownership Summit, scheduled for May 1, 2010 that will be held in conjunction with the Arabian Hotel Investment Conference.

Source: HotelierMiddleEast.com

Today is the last day of the 2010 Ragatz Fractional Interest Conference, hosted at the Fairmont San Francisco and marks three days of learning and networking for representatives of the fractional and timeshare industries.

This fractional and timeshare industry conference has featured some 60 speakers focusing on the types of critical decisions consumers are making regarding marketing, financing, and sales. The speakers represent both the current fractional industry and that of the future, along with experts and advisors from related industries.

One of the much-anticipated highlights of this annual conference is always the release of the most current edition of the Ragatz Associates’ State of the Fractional Interest Industry Report. This report profiles the fractional industry in the US, Mexico, Canada, and the Caribbean.

This year’s co-host of the Ragatz Associates Fractional Interest Conference is The Registry Collection, which is the world’s largest luxury fractional exchange program, and includes a global network of condo hotels and fractional yachts.

Sell My Timeshare NOW has been proud to be part of this outstanding industry-wide fractional and timeshare event.

Officially (as of last week) the Ritz-Carlton Destination Club is ten years old. Originally just called the Ritz-Carlton Club, this brand stands for some of the best in fractional elegance and luxury vacation living in the timeshare vacation market today.

Member owners at Ritz-Carlton Destination Club enjoy fractional ownership through their Home Club membership and deeded, points-based Portfolio Membership. Fractional properties at the Ritz-Carlton Destination Club are typically from one to four-bedrooms, with a living area, a fully equipped kitchen, and luxurious bathrooms. Most units include a washer and dryer; LCD TV and DVD; a fireplace, and Wi-Fi or high-speed Internet access.

Destinations include some of the choice vacation locations in the world such as the brand’s first two resorts in Aspen Highlands, Colorado and St. Thomas, US Virgin Islands. Other popular Ritz-Carlton vacation ownership resorts are Jupiter, Florida; Bachelor Gulch, Colorado; San Francisco, California; and Abaco in The Bahamas along with the newest locations, Kapalua Bay in Maui, Hawaii, and the newest Ritz-Carlton Destination Club, which is scheduled to open in Lake Tahoe, California by the end of the year.

And here’s the best news of all – Yes, you can buy Ritz-Carlton fractionals (Ritz-Carlton timeshare) on the resale market!

• Ritz-Carlton Club Kapalua Bay
• Ritz-Carlton Club, Aspen Highlands
• Ritz-Carlton Club St. Thomas
• Ritz-Carlton Golf Club & Spa, Jupiter

The 2009 Robb Report’s 21st annual “Best of the Best” issue calls the Ritz-Carlton Destination Club the top “Fractional” vacation home in the world.

And just as you follow @jasontremblay_ and @VacationHotDeal for your timeshare resale, timeshare rental, and timeshare owner news, you may want to also follow @RitzCarltonClub.

Could some residential homeowners or investors find opportunity by selling properties as fractional ownership vacation homes?

Good question and one addressed in a recent issue of Perspective Magazine. David M. Disick, president of David M. Disick & Associates writes about the opportunity that fractionals may hold within the real estate market. Disick is considered to be a pioneer in the fractional vacation home industry. He is the developer behind the Private Residence Club, Franz Klammer Lodge in Telluride, Colorado and is currently developing Club ElyseeSM.

Is a Fractional Just Another Name for a Timeshare?

If you are unfamiliar with the concept, let’s start with the argument of whether timeshare and fractionals are the same product on different scales. Fractionals afford owners the chance to buy a percentage of ownership in a vacation home. The property is typically a luxury or uber-luxury home, located in a desirable vacation destination. Unlike a timeshare where there are often as many as 50 individual owners, each claiming a week or perhaps two of interval ownership, a fractional is typically owned by a limited number of owners (10 or fewer) who many own several months of interval usage time.

Good approach? Probably it is, since statistics show the fractional industry accounted for some $2 billion in sales in 2007 and another $1.5 billion in 2008. Fractional industry expert Sherman D. Poptvin points out, “Even in the economic downturn of 2008, the fractional market was still the fastest growing real estate product.”

The logistics of sales for fractional ownership vacation property comes down to this: A vacation home in a highly desirable location may be a tough sell at $5 million, but expand the ownership pool to 6 or 7 individuals at $750,000 apiece and you have a much greater market of potential buyers from which to draw.

But here’s the warning. While selling a luxury home (either as the current owner or as an investor) to multiple joint buyers may be a way to expand your market, Disick warns it, “is not for the uninitiated.” He calls the concept relatively simple and potentially very profitable but cautions, “A wide variety of skill sets is required for a successful development.”

Fractional Expert David Disick’s Advice for Selling a Vacation Home as a Fractional

• Before you do anything, consult a financial and a legal advisor.
• Location, location, location. Prime locations in prime resorts are essential for a successful venture into fractionalizing a property.
• Check the zoning laws. Not all properties can be turned into fractionals.
• Find financing sources for your venture. You may even have to educate them about the concept and the opportunity of fractionals.
• Study the rate of return expected as well as the return on investment.
• Look at your pro forma in a best and a worst-case scenario.
• Find properties that you can acquire at a favorable price.
• Be prepared to update the home’s furnishings and technology, or to furnish the home from scratch.
• Be prepared to make any necessary repairs to the property.
• Consider the needs that will arise for property management, concierge or reception services, reservations, bookkeeping and auditing procedures, and documentation for ownership, as your starting needs, with the eye-opening recognition that more needs will become evident as you move through the process.

And lastly, don’t let this list scare you off. As Disick advises, the market is sure to bounce back. He suggests that if the approach of selling fractionalized property appeals to you, then you should prepare now in anticipation of the “pent up demand” there is sure to be from people who have, during this recession, delayed their vacation ownership purchases.

(Source: Perspective magazine, July 2009.)

The Ritz-Carlton Highlands at Lake Tahoe is scheduled to open on December 9 of this year, meaning that you could plan now and be skiing in Tahoe this winter at your own Ritz Carlton Club vacation ownership timeshare. One of the reasons this new vacation ownership property is so exciting is because it is the first new-build resort to be constructed in the Lake Tahoe area in decades. And one of the reasons vacation ownership is always so exciting is because once you “own” your vacation, you are not likely to bypass it, no matter what the economy looks like.

Here’s how the American Resort Development Association (ARDA) explains it, in a recent article by Howard Nusbaum, which appeared on Hospitality Net:

“No matter what the state of the economy may be, if you own your vacation, you will take it—pure and simple. The prepaid nature of our vacation product is very much a part of its magic, as it provides a disciplined means of guaranteed use. The consistent quality and assurance that your vacation will be what it was intended to be adds to that magic factor. Because of this, timeshare owners have become the “Cheshire Cats” of the Monday morning office water-cooler chats, as they tell coworkers of their travels and adventures from the previous week. Quite simply, they bought and paid for their vacations at a set rate, so now they are recession-insulated when it comes to taking annual holidays.”

Lake Tahoe Luxury at the New Ritz-Carlton Highlands Timeshare

Sitting slopeside between Lake Tahoe and Truckee, the resort will include 170 regular guest rooms, 23 private Ritz-Carlton Residences, and 25 Ritz-Carlton Destination Club fractional ownership residences. With a 17,000 square feet spa, yoga and spin studios, fitness center, and ski-in, ski-out access at Northstar-at-Tahoe, this luxurious timeshare resort is an ideal year-round vacation destination.

…And who among us wouldn’t like to be a “recession-insulated Cheshire Cat” enjoying a Lake Tahoe vacation?

Additional opportunities for Ritz-Carton Club vacation ownership at timeshare resale prices:

• Ritz-Carlton Club timeshare and residences in San Francisco.
• Ritz-Carlton Club Bachelor Gulch timeshare and residences in Avon, Colorado.
• Ritz-Carlton Club St. Thomas timeshare and residences in St. Thomas, Virgin Islands (U.S.).
• Ritz-Carlton Club, Aspen Highlands timeshare and residences in Aspen, Colorado.
• Ritz-Carlton Golf Club & Spa, Jupiter, Florida.

Director of Communications Steve Luba gives a wrap-up of the latest happenings in the industry.

 

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This week, in the Orlando Business Journal, staff writer Christopher Boyd, covers a new feature offered by the Ritz-Carlton Destination Club, one that brings the already overlapping concepts of timeshare and fractionals even closer together.

As of April 28, the Ritz-Carlton Hotel Company has added a destination club option that allows buyers to purchase vacation ownership points; previously all Ritz-Carlton Destination Club membership purchased fractional ownership in a fixed property. The new ‘points ownership’ with Ritz-Carlton will give members access to Ritz’s properties worldwide.

According to the Orlando Business Journal article, the company believes that the new vacation property points ownership will increase the appeal of the high-end Ritz-Carlton fractionals, and will attract people who do not wish to be tied to a single piece of real estate. Quoting David Short, regional vice president for sales at Ritz-Carlton Destination Club, the article says, “Points give you much more flexibility. They allow people to customize each trip to their own needs.”

Points ownership pricing through Ritz-Carlton Destination Club ranges from $100,000 to $800,000.

Follow these Links to Learn More about Opportunities in Ritz-Carlton Timeshare and Fractionals at Timeshare Resale Prices:

• Ritz-Carlton Club Bachelor Gulch Resales
• Ritz-Carlton Club St. Thomas Resales
• Ritz-Carlton Club St. Thomas Rentals
• Ritz-Carlton Club, Aspen Highlands Rentals
• Ritz-Carlton Golf Club & Spa, Jupiter Resales
• Ritz-Carlton Golf Club & Spa, Jupiter Rentals

Source: Orlando Business Journal

Owners Perspective Magazine is a successful publication directed to the needs and interests of timeshare owners. Launched online in July of 2008 and in print in January of this year, Owners Perspective Magazine provides both an information platform as well as a way for the timeshare industry to showcase services to timeshare owners and prospective owners.

In recent months, the editors of Owners Perspective Magazine have recognized a trend toward higher interest in articles about fractional ownership and an increasing response by readers seeking more information from advertisers about fractional properties. With this in mind, the new Fractional Property Guide from the publishers of Owners Perspective Magazine will officially launch on July 1, with a soft launch already in place. To see the new Fractional Property Guide during its test and evaluation phase go to:

http://www.ownersperspective.com/fractionalpropertyguide/

A Stand Out in the Timeshare Industry

Paul Mattimoe, CEO of Perspective International, (owners and publishers of both publications, as well as other timeshare industry magazines, websites, and directories) says, “Whilst there are several other excellent websites that provide property listings for fractional ownership, we have been compelled to produce ours through demand from our consumer magazine readership which reaches more than 42,000 prospective buyers each month.”

Instead of measuring the magazine’s outreach in terms of “hits” or “clicks”, Mattimoe points out that the publications uses a more targeted approach, providing readers with inquiry forms direct to the advertisers. “It is essential,” Mattimoe adds, “for us to continue to differentiate ourselves from competitors and our offline reach is the key ingredient here.”

Hawaii tourism has a new reason to celebrate with the recent opening of the Ritz-Carlton Club and Residences at Kapalua Bay on Maui. Hawaii timeshare has been an important part of the timeshare and vacation ownership industry for a long time, and candidly, tourism in Hawaii has taken a hit with the depressed economy. So it is especially good news that this $355 million Hawaii timeshare resort and condo complex is open and operational. The Honolulu Advertiser quoted Ryan Churchill, senior vice president and lead project investor of Maui Land & Pineapple Company as saying, “We are delighted to welcome this stunning new property to Kapalua Resort’s portfolio of luxury living.”

The new Ritz-Carlton Club and Residences at Kapalua Bay is the first resort in Hawaii to introduce a fractional ownership condo development on such a large scale. The resort is built on 24 acres and it encompasses nine buildings, each three to six stories high. Included are 84 fee-simple condos and 62 timeshare units. The timeshare units are being sold as fractional ownership condos, in which 12 co-owners share ownership of a unit, each owning a minimum of three weeks apiece.

The Hawaii Timeshare Real Estate Market

Offsetting the challenge of selling timeshare real estate in this price range is the fact that many presales occurred as early as June 2006, before the Hawaii timeshare real estate market felt the worst of the current economic situation.

Jenny Ochtera, who is in charge of sales and marketing at the resort, notes that these are challenging times economically, but that the resort has been, “incredibly fortunate.” The Maui Land Company and Ritz-Carlton corporate say that the property continues to attract an impressive number of buyers.

Presently, 267 units of fractional ownership have sold for prices between $350,000 to $850,000. Twenty-five of those sales occurred in the first quarter of 2009. The resort plans for the sale of 744 timeshare intervals total, reserving 16 weeks per year for use at an additional cost by the member-owners.

The timeshare units (fractionals) are spacious, ranging in size from 1,912 square feet to 2,257 square feet, and offering a choice of two or three bedroom units. On-site amenities include a lagoon-style pool with a bar and grill and a private beach club. There is a second bar near the water’s edge. By late June of this year, a 30,000 square-foot spa is scheduled to open, followed by a Maui-themed general store.

The Ritz-Carlton Club and Residences at Kapalua Bay was developed by Kapalua Bay LLC, which is 51 percent owned by Maui Land; 34 percent owned by Ritz-Carlton: (a unit of Marriott International); and 15 percent owned by Exclusive Resorts.

Opportunities in Timeshare Resales at Ritz Carlton Timeshare or Fractional Resorts

• Ritz-Carlton Club and Residences, San Francisco Resales
• Ritz-Carlton Club Bachelor Gulch Resales
• Ritz-Carlton Club St. Thomas Resales
• Ritz-Carlton Golf Club & Spa, Jupiter Resales