There was so much to report from last week’s Canadian Resort Development Association Annual Conference in Victoria, British Columbia, that I couldn’t include it all in one blog post … in fact, this is my third post since Saturday on the subject, so if you missed the first two, please double back and read them.

• Timeshares, Fractionals, and a Vision for the Future at the CRDA Conference
• The Turning Point: Canadian Timeshare Buyers

All of us from Sell My Timeshare NOW really enjoyed the people we met and the new relationships we developed with people in the Canada timeshare and vacation ownership industry, including Fairmont Resort Properties and Aviawest timeshares.

We gave out a lot of information from our display table; the interest in Sell My Timeshare NOW shows that the Canadian timeshare industry is enthusiastically looking for a way to address their timeshare resale needs. During one session, called, “The Last Word: Ask the Experts,” the topic turned very directly to the subject of timeshare resales. The consensus of opinion was that the timeshare industry has ignored the matter for too long, and everyone in the business, from timeshare developers, to timeshare resorts to timeshare resale companies needs to come together to solve the problem.

Hot Topics in the Timeshare and Fractional Industry

As I mentioned in yesterday’s The Timeshare Authority post, fractionals were a hot topic and many of the CRDA conference attendees felt that real estate agents will become more involved in selling fractionals on the resale market. This is partly because of the higher resale value of fractionals (as compared to most timeshares) and also because the selling price of most fractionals exceeds the selling price of most timeshares.

We were extremely impressed with the way the conference was conducted and managed; this was our first CRDA annual conference and the membership was very welcoming and inclusive. You could tell they were genuine in their goal to improve the vacation ownership industry and to work with every sector to create ways to build and grow the timeshare industry in spite of the current economic climate.

It was gratifying to see emphasis placed on the importance of online marketing and having a strong Internet presence, and page 1 rankings in Google searches. It goes without saying that is our philosophy here at The Timeshare Authority and Sell My Timeshare NOW.

Lastly, let me add that I was personally honored to meet Keith W. Trowbridge, Ph.D.; President of Executive Quest, Inc.; Editor, Timeshare and Vacation Ownership Review; and author of Resort Timesharing: How you can invest in inflation-proof vacations for life. Keith Trowbridge is a pioneer in the timeshare industry and it was truly my privilege to meet him.

All in all, I would call the conference a great success and add that we are already looking forward to next year. Ross Perlmutter, the executive director of CRDA, summed it up like this, “The conference was really strong with great participation, and we’re looking for another 30 percent increase next year. We’re looking to add workshops next year to the agenda in order to really drill down to the important issues that matter to the industry.”

Last week’s CRDA Conference was great. The Canadian Resort Development Association Annual Conference was held in Victoria, British Columbia, and Steve Luba (Sell My Timeshare NOW’s director of communications) and I headed to the great northwest to be a part of it.

You might think that with the economy the way it is and some sectors of the timeshare industry experiencing real credit crunch challenges that attendance would have been down. Instead, representatives of the timeshare, fractional, and vacation ownership industries were on hand, ready to learn, network, share, and contribute to the forward vision of the industry.

As Ross Perlmutter, the executive director of CRDA stated, “I’m thrilled with the turnout of the conference. We had 170 delegates, which was up from 130 last year and everybody said to expect a downturn. While other conferences were down as much as 20 percent our numbers were up 30 percent in the midst of the way the economy is going.”

What Fractionals Have Figured Out that Timeshare Developers May Need to Understand

Much of this year’s CRDA Conference centered around fractionals and how developers can manage the growth and sales of fractionals. Dick Ragatz, president of Ragatz Associates, and industry expert on vacation ownership, delivered the keynote address. He identified that there are 300 total fractional projects with 175 in active sales in North America totaling $2.3 billion in sales in 2007. There are about 50,000 fractional owners/members in North America and the average fractional sells for $200,000 USD.

Now here’s where it gets really interesting. The average marketing cost for a fractional is about 18 to 20 percent of the sales price, compared to 50 percent marketing cost for the sale of new timeshares. This would appear to be a significantly contributing factor in why fractionals maintain their value on the resale market so much better than do timeshares.

We’ve talked about it before, here at The Timeshare Authority. Critics of timeshare are always quick to point out that timeshare resales are much lower in price than timeshares purchased new from developers – they see it as proof that this product loses its value quickly. But in reality, timeshare resales may be the product that is “right-priced” while new timeshare prices are overly marked up to cover the high cost of advertising and marketing in the way the timeshare industry has traditionally approached it.

Timeshares are great. And I am pretty sure buyers would be just as willing to purchase them without the seller giving everyone who listens to their timeshare sales pitch a free theme park ticket or discounted vacation night – especially if giving up the perks meant paying less for the timeshare itself.

We came home from the CRDA Conference with a lot of new information, new food for thought, new friends, and new business contacts. And in tomorrow’s blog post, I will fill you in on more of what we learned and who we met at this very exciting event.

Recent The Timeshare Authority posts about CRDA:

• The Turning Point: Canadian Timeshare Buyers

Marriott International, owners of Marriott Hotels and of Marriott Vacation Club International is expected to officially announce a new project that will create some 220 jobs – in Cork, Ireland. Great news for the people of Cork; disappointing news for recently laid off U.S. timeshare company employees like those at Westgate timeshares or Wyndham Worldwide resorts.

According to Finfacts, (Ireland’s top financial news portal) Marriott International is gearing up to more than double the size of its Cork call center which currently employees 160 people in reservations and customer service for inquires originating from Ireland, the United Kingdom, and Continental Europe. The new call center will occupy 10,400 square feet in Blackpool, Cork City and is expected to handle approximately 1,500,000 calls by the end of 2009.

Billy Kelleher TD, Ireland’s Minister for Labour Affairs at the Department of Enterprise, Trade, and Employment, says this about Marriott’s expansion in Ireland, “We are delighted that Marriott chose Ireland and Cork for its second operation. It shows a level of confidence that the company has in our ability to provide the highly skilled personnel necessary to support a rapidly growing international business. Marriott’s positive experiences at its existing Vacation Club International facility in Cork and the standard of its Irish management and workforce were instrumental factors in securing this investment for Cork against strong competition from other global locations. It is also a substantial endorsement of Ireland’s reputation in the business of global customer services and support activities.”

Both Cut Backs and Expansion Ahead for Marriott Timeshares

It’s interesting that the news of Marriott’s expansion in Ireland surfaced on the same day as Bill Marriott wrote in his blog, “In early October, we reported our third quarter earnings results and also provided observations about business for the rest of 2008 and into 2009. At that time, we expected business in late 2008 and 2009 to decline, but in just the last few weeks our business outlook has further weakened.”

For more information on the layoffs at timeshare companies, see these recent The Timeshare Authority blog posts:

• Wyndham Timeshare Announces Cut Backs
• Layoffs at Wyndham Timeshare as Wyndham Worldwide Shares Drop
• Layoffs Coming at Westgate Timeshare

Plans are underway to transform Slains Castle – the castle that inspired Bram Stoker to write the horror classic, Dracula – into timeshare condos.

The cliff top ruins of Slains Castle are near Cruden Bay in Aberdeenshire, Scotland. It was originally built in 1597, which leads one to assume that calling the renovations extensive is an understatement, yet plans continue to move forward on this £6 million timeshare project.

Understandably, some people have raised objections to the idea of turning a structure of such historic significance into a timeshare, but supporters point out that if Slains Castle is not renovated in this way, it will continue to deteriorate, crumbling down the cliffs and into the sea.

According to Timesharing Today, the architect behind the development, Douglas Forrest said, “Work has already started on the new plans and it’s going well.” He also explained that the intention was to restore the castle to the way it was during its prime.

…Sounds like it may be a while before you can start scheduling weeks at this timeshare condo resort. Until then, you may want to vacation in Scotland timeshare resales and Wales timeshare resales. Both countries offer beautiful timeshare resales and timeshare rentals, amazing castles and ruins to explore, and who knows, perhaps even a vampire or two.