Criticism of The ZamZam, a timeshare vacation property that towers over the Islamic holy city of Mecca, has not slowed sales at the $390 million luxury resort. The ZamZam is named after one of Islam’s most holy places, a water well which, according to Wikipedia, “Many Muslims believe…is divinely blessed ([its water] is believed to satisfy both hunger and thirst, and cure illness) and make every effort to drink of this water during their pilgrimage.”

The ZamZam is part of the Abraj al-Bait development center, and is one of the largest complexes of its type in the world. In addition to the ZamZam, the project features five other skyscrapers, two helipads and a multi-story shopping mall. Since sales began two years ago in the pre-construction phase, property in the complex now sells at higher prices than those commanded by even the most desirable square footage in Manhattan or the Mayfair district of London.

Interval timeshare at The ZamZam starts at about $6,800 USD for one week in a studio during the slow season. During the month of Hajj, when an estimted 1.5 million Muslim pilgrims from around the world travel to Mecca, the price for the same unit reaches about $175,000 USD.

Alpha1Estates reports they are selling timeshare intervals to Muslims in Great Britain and throughout Europe. According to an article that appeared in The Guardian (http://www.guardian.co.uk) a brochure offered by Alpha1Estates tells buyers, “expect an average rental return of between 10% and 15% a year.” Talal Mahmood Malik, a spokesman for the real estate company says, “You could see it as a financial investment and there will be cowboys interested in making a quick buck. But most people see it as a spiritual investment. There is a massive modernization and regeneration program in Mecca but non-Muslims won’t be interested in investing. There’s nothing to do there except pray and if you’re non-Muslim you can’t get into Mecca anyway.”

To further complicate sentiments regarding The ZamZam, it was constructed by the Binladin Group, the construction firm founded by the father of Osama Bin Laden.

Research compiled during a timeshare symposium conducted by RCI Middle East will greatly benefit timeshare developers in that region. As a current timeshare owner, or someone who is interested in buying a timeshare, you can also use this research to help you identify hot markets and desirable locations for timeshare exchange.

The Pan Arab Research Centre interviewed one thousand high-income citizens of Abu Dhabi, Dubai, Fujairah, Ras Al Kaimah, Oman, Jordan, MacKay Qatar, Egypt, Madinah and Lebanon in order to understand the travel preferences and timeshare vacation interests of the Middle Eastern family on holiday.

The results of the study, released last spring by RCI Global Vacation Network and industry consultant Ragatz Associates, reveals the following trends:

• All of the one thousand participants said they travel regularly.
• When traveling, shopping ranked as the number one activity. Food and dining options are also important, as many Middle Eastern travelers look for Halal certified food sources (food permissible according to Islamic law).
• Travel is a group experience, including the fact that 46 percent of vacationers from the United Arab Emirates take their parents with them when they travel and 40 percent of Saudi Arabians take their household staff.
• Currently Dubai and the United Arab Emirates are the most popular destinations for a timeshare vacation.
• Interval timeshare ownership can be structured to be compatible with the Muslim concept of “Sukok” through a timeshare bond that conforms to Islamic laws and Muslim principles. As the managing director for RCI Middle East, Vivienne Noyes-Thomas explains, “Sukok gives Muslims complete confidence… that what they’re buying into is safe and acceptable. The new Le Meridien Towers, an RCI affiliate, and the ZamZam Towers projects are positioning their marketing around this concept.”

Most of the interviewees expressed an interest in vacationing close to home or within “the kingdom” although Orlando, Marbella and London are also popular destinations among this group of travelers.

Over 30,000 residents in the Middle East currently own interval timeshare or fractionals. Non-owners within the surveyed group expressed interest in fractional ownership or purchasing a timeshare vacation property. Many are particularly interested in owning interval timeshare in the Islamic centers of Makkah and Madinah, both popular destinations for Muslim pilgrims.

The historic golfing tradition of the Greater Greensboro Open — a professional tournament that has been in place nearly 70 years — has officially become the Wyndham Championship, effective with the 2007 playing season.

According to Stephen P. Holmes, chairman, president and CEO of Wyndham Worldwide, as quoted in the Greensboro News-Record (www.news-record.com), Wyndham is excited about the sponsorship because many of the people who buy a Fairfield resort timeshare or a Trendwest timeshare (both part of the Wyndham Worldwide brand) are from the Greensboro and Raleigh Durham area of North Carolina. As Holmes explained, “this is a large market for our customers.”

Wyndham Vacation Ownership, as a timeshare company, is the world’s largest vacation ownership business. Through their two primary timeshare company brands, Fairfield Resort timeshare and Trendwest Timeshare, Wyndham Worldwide has developed or acquired more than 140 vacation ownership or timeshare promotion properties with over 18,000 individual timeshare condo units.

The Wyndham Worldwide brand includes Wyndham Vacation Ownership, a timeshare company involved in timeshare promotion for Fairfield Resort Timeshare and Trendwest Timeshare. It also includes the Wyndham Hotel Group and the RCI Global Vacation Network Group. The RCI Global Vacation Network is the world’s largest timeshare condo exchange network and is one of the world’s largest global marketers of vacation properties for rental or timeshare promotion.

The 2007 Wyndham Championship will be part of the PGA Tour’s Fed-Ex Cup schedule, which is itself a new departure for US professional golf. While all of the fine points have yet to be established, the Fed-Ex Cup is patterned loosely after NASCAR’s Nextel Cup, which allows the top 10 drivers to compete for the cup in a 10-race series. Until this year, a PGA Tour member’s status to play the following year was determined almost entirely upon dollars won in each tournament played.

If you are considering buying a timeshare vacation property, but can’t decide if timesharing is right for you, here are some interesting new facts that may help you with your decision.

According to industry statistics recently released by ARDA, the American Resort Development Association, 80.3 percent of all timeshare owners express satisfaction with their purchase. Even more significant is the fact that among those who have purchased a timeshare, only 4.4 percent say they are highly dissatisfied with their timeshare deal. When you consider how difficult it is to please all of the people, all of the time, the timeshare vacation industry is creating some amazing success.

One in four owners of Interval timeshare or a timeshare vacation club membership indicate they are interested in purchasing additional timeshares. Nearly 76 percent of current owners also say that timesharing has enhanced their anticipation of vacation time. Among those who own timeshare, only 9.5 percent of all properties went unused during the last twelve months, with over 83 percent of owners either personally enjoying their timeshare or banking it for future use.

While you can’t gauge your personal satisfaction on the happiness of others, the low incidence of dissatisfaction among timeshare vacation property owners is worth noting. And of course, the most cost-effective way to become a timeshare vacation owner is to purchase your timeshare directly from the current owner. Timeshare resales offer the best values and the most hassle-free way to join the more than four million people in the US alone who own and enjoy timeshares.