Timeshare Industry is a Proven Contributor to State and Local Economies

Timeshare Industry is a Proven Contributor to State and Local Economies

The sale and rental of new timeshares and of timeshare resales benefits the economy both directly and indirectly.

Timeshares mean freedom to travel.

The American Resort Development Association, known as ARDA, recently released statistics on the economic effect of the timeshare industry in certain geographic regions. The study showed that the timeshare industry positively impacts regional, state and local economies in measurable ways. In fact, resale timeshares specifically are a significant and sometimes overlooked economic contributor within the industry.

The studies prepared for ARDA by PricewaterhouseCoopers and released by ARDA International Foundation, show that the Florida timeshare industry contributed $12.3 billion to that state’s economy in 2005, and the Nevada timeshare industry contributed $2.8 billion to the Nevada statewide economy during the same period. While many states in the US gain considerably from the presence of the timeshare industry, Nevada and Florida head the list, with California and South Carolina coming next in line.

Las Vegas Timeshare Vacation

Timeshares positively impact the economy through the sale of new and resale timeshares, job opportunities created by the industry, direct and indirect expenditures of timeshare vacationers, and revenues realized through local property taxes. Every time someone buys a timeshare resale, two positive things happen. First, a new owner takes possession of the timeshare unit, begins to use it, and feeds money back into the economy where it is located. But secondly, a person who no longer wants or needs that particular timeshare is relieved of the on-going cost of vacation property ownership and is freed-up to put his or her money into something else, including even new timeshares.

Long Battle Ends over New Timeshares in Homewood, Nevada

Long Battle Ends over New Timeshares in Homewood, Nevada

Lake Tahoe Vacation Destination

One Nevada developer has finally received government approval to commence constructing six timeshare units at Homewood, Nevada, in the Lake Tahoe area. The West Shore development received the go-ahead earlier this month after the developer agreed to downsize the plan from nine timeshare units to six timeshare units. The proposed timeshare vacation homes will be constructed on Highway 89, across from Homewood Mountain Ski Resort approximately twenty miles north of South Lake Tahoe and six miles south of Tahoe City.

Conditions of the approval, according the website for Placer County, California government, include demolition of an existing property known as the Marina Lodge; constructing a facility for washing boats; building screens to block views of existing boat racks; and contributing $100,000 to the Homewood Home Owners Association for public beach access.

This particular project is one more instance where local government officials agonize over whether an area should be zoned for use as residential property, traditional hotel property, timeshare units, or as fractional ownership. I think it is the concept of fractionals that has really added to the justifiable confusion and concern of planning boards.

Residential property has predictable patterns for use, density, and the type of traffic, tax revenue, and demands on government services it will create. The pros and cons of hotel use are equally predictable. In both cases, a zoning or planning board can realistically project what an area will be like in five, ten, or even fifteen years, based on its zoning. But when you add timeshare vacation property—most especially fractionals—to the mix, neither the standard projections for residential property or for hotel property accurately apply.

As developers of fractional properties or timeshare units often explain, fractional ownership (whether it is one week at a time or a thirteen-week increment) creates more business for area restaurants, attractions, and other businesses and services that benefit from tourist trade. On the other hand, fractional owners generate less business for services such as dentists, hardware stores, or computer repair shops, which are all good examples of places a vacationer is less likely than a resident to spend money. And from a third perspective, some restaurateurs argue that timeshare units (because so many of them have kitchen and dining areas) and fractionals (which essentially offer all the features of a private home) hurt their business by comparison to hotels, where guests often have little choice but to dine out three times per day.

Lake Tahoe Timeshare Resales

It’s always a tough call for those who carry the responsibility of planning our cities’ futures, but this past year, I have definitely seen more instances like this one. City planning boards are compromising and permitting developers to intermingle small developments that have a limited number of fractionals or timeshare units, into areas that are traditionally zoned for residential use only.

To learn more about other Lake Tahoe timeshare resales and rentals, or Nevada timeshare resales and California timeshare resales, visit the website for Sell My Timeshare NOW.

Hilton Grand Vacation Timeshares at Reflection Bay

Hilton Grand Vacation Timeshares at Reflection Bay

Hilton timeshares and Waldorf-Astoria fractionals under construction at the famed Reflection Bay golf course.

New Las Vegas timeshares and fractionals are in the plans for Henderson, Nevada, just outside of Las Vegas. The Hilton Hotels Corporation has announced that they will build 250 timeshare units at Lake Las Vegas Resort. Two hundred of the units will carry the brand of Hilton timeshares, while another fifty will be branded as part of the Waldorf-Astoria Collection. Currently Waldorf-Astoria Collection timeshares or fractionals are available at La Quinta, California; Phoenix, Arizona; Maui; and Jeddah, Saudi Arabia.

Many of the timeshare units in the new Hilton and Waldorf=Astoria, will face the 17th hole and the 18th tee of the famous Reflection Bay Golf Course.

Tee it up at timeshares near Reflection Bay Golf Course

Reflection Bay Golf Course is the first public course Jack Nicklaus designed in the state of Nevada. It is also home to the Wendy’s Three-Tour Challenge, where each year, stars from the PGA, LPGA, and the Champions Tours tee it up in a fan-favorite golfing showdown. Five golf holes play alongside Lake Las Vegas, and the course features three waterfalls. But if your game isn’t up to that much water, play the forward tees and you will completely take the water out of play.

Because Reflection Bay is a public course, even if you schedule your Las Vegas timeshare vacation at the last minute, you still have a good chance to get on this incredible golf course. Also there are always great deals available in Hilton timeshare resales and Hilton timeshare rentals.