The Fractional Summit USA conference wrapped last week, (August 31 and September 1) with a near sellout of delegate tickets. Organized by FractionalLife.com, the event sponsors included: The Registry Collection, Timbers Resorts, First American, Robb Stucky, Kemp International, Foley and Lardner, Dahlgren Duck and Rezak Resort Consulting.

With leaders from the fractional, real estate, and timeshare industries in attendance, the conference focused on two days of education, information exchange, and networking. Hosted at the Intercontinental Miami Hotel in downtown Miami, Florida, the event included opening statements by Piers Brown, CEO of Fractional Life, followed by “Fractional 101,” four afternoon sessions on Day 1, an evening cocktail hour, business card swap for intense networking, and a Zacapa Rum tasting event.

Day 2 featured the keynote address by Byrne Murphy, Head of Kitebrook Partners, and a jam-packed day with thought leaders from the fractional and timeshare industries as well as insightful business executives who were eager to share their expertise and insights with all in attendance.

And in the end, the takeaway was tremendous enthusiasm for a growing and maturing segment of vacation ownership with many new friendships and business relationships forged.

About Fractional Life®

From a fractional jet to fractional real estate, Fractional Life is the number one consumer lifestyle brand dedicated to growing the fractional ownership marketplace. The company has three divisions: interactive, fractional b2b conferences and b2c exhibitions.

Upcoming events include:

Fractional Summit Middle East, November 23 – 24, 2010, The Yas Hotel, Abu Dhabi

Fractional Life Expo, September 13 – 15, 2010, Broadgate Event Venues, London 2011

Fractional Summit Europe, February 17 – 18, 2011, London Marriott, Grosvenor

Related posts on The Timeshare Authority:
Fractionals: That’s Timeshare on a Whole Different Level
Fractionals Could Offer Unique Opportunities in Real Estate and Vacation Ownership
Timeshare Owners Publication Launching Fractional Property Guide

The Tahiti Village, Tahiti timeshare, and Club de Soleil timeshares were acquired on August 31, by The Arthur Spector Companies. The acquisition includes all of the unsold timeshare units and intervals (inventory) and the operating assets of the three Las Vegas timeshare resorts: Tahiti Village Resort timeshare; Tahiti Resort timeshare; and Club de Soleil timeshare.

In 2007, a Goldman Sachs sponsored fund invested in Consolidated Resorts, acquiring 75 percent interest in these three Las Vegas timeshares, while the Spector family retained 25 percent interest in the properties. In 2009, Consolidated Resorts filed for bankruptcy because the credit crisis had virtually cut off the resort ownership’s resources for growth funding. Since that time, the former Goldman Sachs fund has terminated its interest in the timeshare group and the assets again became available for acquisition.

The Arthur Spector Companies and the Spector family are no newcomers to timeshare. Spector companies have been a leading timeshare developer in Las Vegas timeshare, Orlando timeshare and Hawaii timeshare for more than 30 years. The Spector family expects to invest over $30 MM in the Las Vegas economy through timeshare development and timeshare expansion.

Arthur Spector explains, “We are especially thankful that we were able to assist the trustee to protect the interests of over 100,000 timeshare owners in these difficult times. All of the timeshare resorts have remained fully operational, the owners have had uninterrupted use of their vacation plans and continue to choose Las Vegas and Hawaii as their vacation destinations. We look forward to rebuilding this vital sector of the Las Vegas economy.”

Arthur Spector is a trustee member of the American Resort Development Association (ARDA).

Past The Timeshare Authority Blog posts on these Las Vegas timeshares:
Timeshare Owners Should not be Impacted by Bankruptcy Filing at Consolidated Resorts
Consolidated Resorts Timeshare says Bankruptcy Will Not Affect Timeshare Owners

Effective this week (September 8), the US Department of Homeland Security, Customs and Border Protection has added a $14 fee to all registration applications or renewals submitted via Electronic Systems for Travel Authorizations (ESTA).

Q. Who does this change effect?

A. Visitors, vacationers, and business travelers who are a national of one of 36 countries (list follows below).

As of January 20, 2010, the Department of Homeland Security began transitioning to “enforced compliance of the ESTA requirements for VWP travelers”. Still too many acronyms to know if this applies to you? That’s understandable. Let us explain more…

A VWP traveler is a Visa Waiver Program visitor to the US traveling under the new guidelines that enable nationals from 36 participating countries to visit the US for any tourism or business purpose that qualifies as visitor [B] visa purposes. ESTA is the automated system by which eligibility is determined for these prospective US visitors who are traveling here under the Visa Waiver Program.

VWP travelers may stay in the US for up to 90 days without obtaining an actual visa—it’s convenient for everyone, stimulates travel and tourism to America, and as the US government says, permits, “the Department of State to focus consular resources in other areas.” Currently, the 36 VWP countries are: Andorra, Hungary, New Zealand, Australia, Iceland, Norway, Austria, Ireland, Portugal, Belgium, Italy, San Marino, Brunei, Japan, Singapore, Czech Republic, Latvia, Slovakia, Denmark, Liechtenstein, Slovenia, Estonia, Lithuania, South Korea, Finland, Luxembourg, Spain, France, Malta, Sweden, Germany, Monaco, Switzerland, Greece, the Netherlands, and the United Kingdom.

With a 90-day window, visiting timeshare owners can easily enjoy their timeshare interval and even make use of a fractional, if they are a fractional owner. The VWP makes it easy for timeshare owners and renters, and those taking advantage of timeshare exchange, to enjoy US timeshare, coming and going easily without the need to apply for a visa. For repeat travelers or vacationers, existing ESTA registrations (typically valid for up to two years) remain valid through their expiration date. When you renew, or if you are applying for the first time, you will be charged the new fee.

It is good to know that governmental agencies consider promotion of tourism and ease of travel to the greatest degree possible when they implement policy regarding security.

Learn more at the ESTA webpage on the Department of Homeland Security, Customs and Border Protection website or watch this easy to understand video:

When Celebrity Resorts timeshares filed Chapter 11 bankruptcy, timeshare owners at the thirteen Celebrity Resorts properties were justifiably concerned. The owners association at David Walley’s Hot Springs Resort and Spa in Carson City, Nevada, (one of the resorts formerly affiliated with Celebrity Resorts) immediately stepped up for their owners with meetings, a plan for the future, and web pages where timeshare owners at this Nevada timeshare could get answers to the questions that naturally arise in this situation.

But visit those web pages today, and you no longer see posts from nervous timeshare owners or agendas for upcoming discussions and ‘hashing out’ sessions among the board members. Instead, when you visit the Owners Corner page of the website you find a letter from the Board of Directors, written late in July. In this letter, the board explains how diligently they scrutinized timeshare management companies in search of the right solution for David Walley’s resort and the timeshare owners there.

After choosing Trading Places International (TPI) as the new management company, the board believes that David Walley’s Hot Springs Resort and Spa is on the path to a bright future. As Marlena Forst, president of the David Walley’s Resort Association says, “The welcome news that Trading Places had successfully transitioned the Hanalei Bay Resort (Hawaii) from their preceding management company, Celebrity Resorts, was a determining factor in our selection.”

Trading Places’ New Role at David Walley’s Timeshare

Trading Places’ role in management of David Walley’s Resort is as an independent third-party company that assists the resort in finding solutions to the economic challenges it has faced while at the same time, laying the groundwork for the successful operation of the property going forward.

Along with the transition comes a wonderful benefit for timeshare owners at David Walley’s, in that they automatically can take advantage of timeshare exchange through Trading Places International, with no membership fee owed, only the timeshare exchange fee itself to be paid.

It is very good to see how well timeshare can work in the short and long term when the owners association takes responsible action, addresses problems, and effects solutions. And right now, it looks like a win-win situation for both David Walley’s Hot Springs Resort and Spa timeshare owners and for Resort Operations at Trading Places.

Previous reports on the changes at David Walley’s by The Timeshare Authority:

David Walley’s Hot Springs Resort and Spa Timeshare Updates to Timeshare Owners
(published March 15, 2010)
Updates for Timeshare Owners at David Walley’s Hot Springs Resort and Spa Timeshare
(published April 28, 2010)