Central Florida Police continue an all-out search for clues to the disappearance of Westgate employee.

Jennifer Kesse is a 24-year-old financial analyst for CFI Investments (Westgate Resorts) in Ocoee, (Orlando) Florida. She has been missing since January 23, 2006 when she failed to report to work. Authorities in Orlando continue an all-out search, and have classified this as a missing and endangered person case.

On January 27, law enforcement officials reported finding her car parked about a mile from her home, the last place she was known to be before heading to work on Tuesday morning. A spokesperson for the Orlando Police Department declined to comment on what evidence the car revealed.

An anonymous donor is now offering a $115,000 reward for information leading to Jennifer’s safe return. If you know anything that could be of help in finding Jennifer, please call 1-800-423-TIPS. We join her friends, family, and her extended family at Westgate in our prayers for her safe return.

Many people are hearing the words “fractional ownership” for the first time and wondering about this new take on timesharing.

According to research by Yesawich, Pepperdine, Brown & Russell, (a leading marketing, advertising, and public relations firm for the travel and tourism industry) almost 97% of affluent families are familiar with the concept of timesharing. (The study defines affluent as families with $150,000 in annual income and greater.)

Of this group, nearly one in five already owns a timeshare property and an additional 4% are interested in purchasing one. Additionally, 60% are familiar with the concept of vacation ownership (as in vacation clubs) with one in ten being members in vacation ownership clubs and an additional 5% actively thinking about joining. Yet when presented with the idea of fractional ownerships, only 40% even knew what the words actually mean.

Very simply, fractional ownership is timeshare’s more costly cousin. In fractional ownership, each property owner owns between one fourth and one thirteenth of a calendar year in a luxurious residence. Prices to buy into fractionals start on the low end at $40,000 (rare) and quickly move to over a million, with the average range being between $100,000 to $500,000.

Fractional ownership comes with some remarkable perks. Fractionals typically include use of a luxury car (Jaguars are a favorite), a domestic staff, and little amenities, like the storage of your personal belongings that are unpacked and placed in the home before you arrive and repacked and stored upon your departure.

And there is one other important distinction between fractionals and traditional timeshare—besides the price tag. To date, fractional ownerships have reportedly increased in value on the resale market. According to Hobson Advisors, a consulting firm that specializes in fractional ownerships, resale value at Deer Valley Club in Utah has increased 16% per year since 2001 and resales at the Colorado Timbers Club are 50% higher today than they were in 2000.

Are there fractional properties that don’t appreciate in value? No doubt. So before you consider dropping money in the six-figure range, do the smart thing and do your due diligence—or pay someone to do it for you.

Because fractionals, like any other type of shared vacation ownership, should be considered an investment in many years of happy vacations, but definitely not a financial investment.

Fire seriously damages at least one of the timeshare property’s buildings.

According to reports by the Virgin Island Daily News, one of the three accommodations buildings at Magens Point Timeshare Resort in St. Thomas was seriously damaged by fire on January 16, 2006. While no guests were injured, the damage reported is extensive.

When firefighters from St. Thomas, along with nearby Anna’s Retreat arrived, they found the building on the east side of the property engulfed in flames with the most severe damage being to the eight units on the building’s upper floor.

According to St. Thomas Fire Chief, Glenn Francis, the fire did not originate in any of the occupied guest rooms, however the actual cause is undetermined at this time. An investigation is ongoing into the cause as well as to find out if the fire alarm system was operational at the time the fire broke out.

If you were scheduled to vacation at Magens Point this year, you should contact the resort immediately for a full report on the damages and the future availability of accommodations. It also occurs to me that it might be a smart idea if we all brought along a small, fully-functional, battery-operated smoke detector for future vacations…

Point systems can be great, but it is important to learn about the quirks of your particular points system before you enter the timeshare market.

The purpose of timeshare points is to make vacation options more flexible. Many folks buy into a points-based system for the purpose of enhancing the exchange value of their timeshares.

I have heard from owners who are ecstatic about their timeshare points systems. People enjoy being able to, in some systems, exchange these points for various vacation necessities like airfare, car rentals, and temporary lodging en route to their timeshare destination. When enough points are accrued, they can typically be exchanged for a higher demand property with upgraded amenities. Judging by the postcards we get from happy owners, the results are fantastic.

I have also heard from disappointed owners who complain of points devaluation, difficulties getting the resort company to acknowledge the ownership or transfer of these points, and hassles from timeshare exchange companies when it comes time to honor these points. Though these occurrences are by no means “business as usual” in the timeshare world, and considering that situations vary depending on resort, exchange company, location, and other factors, unfortunately these things do happen from time to time. Also, thanks to the current Royal Oasis scandal, many owners are now afraid to buy points in case a resort fails financially.

Naturally, everyone wants to maximize the benefits of a point system while at the same time minimizing the potential risks. Generally speaking, transferring the ownership of points is likely to be an affair requiring the utmost discretion on the part of all parties involved with the transaction.

Please keep in mind that individual resorts often have different requirements than exchange companies. For instance, we’ve heard that, in certain circumstances, the recipient of the transfer is required to purchase a membership with the exchange company responsible for handling the property before the timeshare can be transferred to the new owner. This expense is usually several hundred dollars. Sometimes a points transfer may require paying for an upgrade from the individual resort in question. Typically, resorts and exchange companies are not likely to spend time explaining these fees to the consumer, so these fees naturally seem like hidden charges. This is a serious issue which faces the industry; accordingly, most of the complaints we hear from owners revolve around the issue of points transfers.

What this all boils down to is that there is no industry standard for how timeshare points transfers work. However, just because the major resort chains and exchange companies can’t reach a single consensus is no reason to cancel your next vacation! No matter what resort hosts your timeshare or what exchange company is affiliated with it, you can and should take advantage of the flexibility of points-based timeshare.

The trick is to do your homework beforehand. Having the patience necessary to achieve a complete understanding of a timeshare points system has helped many timeshare owners experience more of the benefits of timesharing and avoid many of the potential hassles.

Where can you go to find out this information?

– Talk to your resale company rep or licensed timeshare broker. Don’t be afraid to ask: “Are there any hidden fees or other consequences of this transaction?” Keep in mind that, since every resort is different, it may take some time for your resale agent to uncover this information. Your patience will be amply rewarded!

– Investigate what other people are saying about your resort by using a search engine like Yahoo! or Google. You are likely to find online review sites and forums frequented by folks who own timeshare at your resort. See what other people are saying about the property, vacation club, or exchange company.

Here’s some (hopefully) helpful links:

Timeshare points at the TCA (mostly European info)

Some good info may be gleaned from this page at the Timeshare Users’ Group. Keep in mind that some of the information found here is more advertorial than informative, but if you’re reading this blog I’d assume you know better than to believe everything you read… however, if you’re into forums, the forums at TUG are one of the best places to find out about a particular resort or exchange company. The regulars here are seasoned timeshare vets who are more than happy to help out newcomers.

Wikipedia’s timeshare page – some information on timeshare points exists here at the time of this writing. However, keep in mind that anyone can edit a Wikipedia article, so objectivity may be suspect.