Condo Resales

Sunday’s edition of Steamboat Today reported on the excellent sales at The Village at Steamboat, Colorado timeshare condominiums being sold under the popular Wyndham brands.

Wyndham Vacation Ownership timeshare sold over 650 timeshare units at The Village at Steamboat during the first eight months of 2010. These sales total more than $45 million. In the month of July, the total number of real estate transactions in Routt County, where this Colorado timeshare is located, was 986, which includes all residential and commercial real estate transactions, not just timeshare sales. And of this total, 520 of the transactions were timeshare sales at The Village at Steamboat, timeshare condominiums sold under the brands WorldMark by Wyndham and Wyndham Vacation Resorts. In dollar volume, with an average sales price of $69,250, this one Wyndham timeshare resort accounted for 15 percent of Routt County, Colorado’s total real estate transactions during July 2010.

Where Do These Timeshare Buyers Come From?

While many of these timeshare sales originate with a timeshare tour at The Village at Steamboat, Ray Mason, vice president of sales in the mountain region for WorldMark by Wyndham, explains, “We have a huge distribution base. People visiting a sales center in, Las Vegas, Orlando, Hawaii, San Diego or San Francisco all have access to (Steamboat). It’s not all walking through that door. It’s distribution and price point. What you see a lot is people who upgrade and buy additional points.”

Whatever Wyndham timeshare is doing, it is clearly working. The company reported that its gross sales of timeshare and vacation ownership totaled $371 million for the second quarter of 2010, which is an increase of 13 percent over the second quarter of 2009.

Catch The Timeshare Authority on Thursday, September 16, when we will have more details about what makes The Village at Steamboat timeshare such a popular Wyndham timeshare destination.

Wyndham Worldwide, parent company of Wyndham Vacation Club (Wyndham timeshare), thinks conversion to US and Caribbean timeshares is a viable solution for an estimated 5000 unsold condos and hotel units. Wyndham Worldwide’s CEO Steve Holmes not only believes it is do-able but feels that it can be profitable and beneficial for Wyndham.

Currently in a recovery period, (like much of the timeshare industry) Wyndham expects to generate around $1.8 billion in revenue this year from timeshare sales, financing, and property management fees, according to an article by Brad Berton on Forbes.com.

But Wyndham’s conversion-to-timeshare plan, it seems, has a second-hand element to it—or maybe that’s third-hand. Rather than put up the equity of fifteen to forty percent typically required in converting thousands of condos to timeshare units, Wyndham plans to do so on a third-party basis. The company will not be assuming the risk of being principal developer in this massive effort.

Wyndham timeshare currently includes approximately 820,000 timeshare owners and some 20,000 timeshare units at more than 150 resorts.

And following up on other recent attention-getting news by Wyndham timeshare is the observation that the referee involved in the ball-tossing altercation with Wyndham Vacation Club CEO, Franz Hanning, was, as predicted, suspended for one game by the NBA for his role in the incident. See: Would You Play Ball With Wyndham Timeshare CEO Franz Hanning?

Hyatt Hotels & Resorts has announced the opening of Hyatt Miami at The Blue. “The Blue” of course, refers to Doral’s most famous golf course, The Big Blue Monster, the nearby deep blue water of the Atlantic Ocean, and the endless blue skies of Miami weather. The17-acre property is also conveniently near the Miami International Airport meaning that your Miami vacation begins almost as soon as you step off the plane.

The resort includes 15 three-story villas, each housing 16 hotel suites. The suites range from 700 square foot studios, to one-bedroom units, and two-story, three bedroom units which are just over 2000 square feet each. All of the units include a terrace with a golf view, fully equipped kitchens, and relaxing rain showers in the marble baths.

ING Clarion Development Ventures II owns the hotel and Davidson Hotel Company is the hotel’s operator. The resort will fly the Hyatt flag.

Chuck Floyd, chief operating officer, North America, Hyatt Hotels Corporation, says, “We are thrilled to add Hyatt Miami at The Blue to our robust portfolio of hotels in the Southeast. The location and quality of the hotel will no doubt appeal to both group and leisure travelers.”

Condo Hotel Ownership of Condotel Units at The Hyatt Miami at The Blue

The Hyatt Miami at The Blue will offer condo hotel residences. Owners of condo hotel units there will be eligible to participate in the Hyatt Vacation Club, with timeshare exchange at fifteen Hyatt Vacation and Residence Clubs or at any of the timeshare resorts within the Interval International timeshare exchange program, which includes over 2200 timeshares worldwide.

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

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