timeshare news

Sunday, November 1, 2009 in Venice, Florida, the National Timeshare Owners Association will hold their last Owners Seminar of the year.

This is your chance to get important tips on buying or selling timeshare. Learn how to avoid timeshare scams with straight talk from a panel of industry experts on hand to answer all your timeshare questions.

The National Timeshare Owners Association (NTOA) was founded to educate timeshare owners, answering the questions and offering the solutions that are often hard to find. You know what it is like; when you want to buy timeshare, everyone wants to be your friend, with developers and timeshare sales companies bombarding you through calls, mailers, and timeshare sales presentations. But once the ink is dry (or even before), these people often seem to disappear leaving you to scramble for answers to your questions.

Here are some of the timeshare industry experts who will be on hand in Venice, Florida to answer your questions:

• Bill Southworth from Interval International
• Keith Trowbridge from Executive Quest Inc.
• Brian Rogers from Timeshare Users Group

The National Timeshare Owners Association explains the value of attending one of their “Members-Only” educational events:

“You’ll experience all the best features of NTOA membership in those few hours: straightforward answers, ethical guidance, exclusive discounts, and the priceless tips, alerts, hard-won experience, and support of other timeshare owners. With the information you gather in one of these conferences, you’ll recoup your low membership fee many times over.”

To attend a NTOA conference and enjoy all the many timeshare owner benefits of NTOA, click here. For more information, call the office: (410) 536-0064 or email [email protected]

We love to check out the advice real estate guru Barbara Corcoran has to offer for buying or selling a home or vacation property. Besides the fact that Corcoran took a $1000 loan and turned it into a five billion dollar real estate business, she is also the expert who told viewers of The Today Show to turn to online timeshare advertising—and specifically named Sell My Timeshare NOW – as the recommended way to resell timeshare.

Here’s what Barbara Corcoran’s advice about selling your home that’s equally meaningful for anyone who wants to resell timeshare.

• Remember that the most enticing homes on the market are the newest to the listings and the lowest priced.
• Stay ahead of the pricing curve in a down market.
• Be prepared to price your house 15 percent below comparable homes on the market.
• If you have to make a price reduction to get your property sold, don’t make it a tiny one that just causes your property to languish on the market even longer and eventually results in you making a second, third, or even more price drops.

In a good real estate (or timeshare sales and timeshare resales market), price your property aggressively in order to get the sale, pricing it as low as competitive properties. And in a difficult market—if you really want to sell your timeshare or your home—be the most competitively priced property in your market.

More about Barbara Corcoran from The Timeshare Authority:

• The Today Show Recommends SellMyTimeshareNOW.com for Timeshare Resales
• The Today Show’s Real Estate Expert Who Suggests Sell My Timeshare NOW, a Star on Shark Tank

And just for the fun of it, see if you can catch reruns of Barbara Corcoran wheeling and dealing during this season’s Shark Tank on ABC.

Lisa Ann Schreier, author of Timeshare for Dummies authored an excellent article last month in Resort Trades making valid points about what the timeshare sales industry can learn from the travel industry.

Schreier looked at research from Chairman and CEO of Ypartnership, Peter Yesawich, which shows that the two greatest influences on Americans who travel are internet technology and feedback from other consumers.

Prodding the timeshare industry to ‘catch up,’ (or perhaps wake up) author Schreier focuses on the scarcity of timeshare sales information on the internet and lack of feedback from timeshare owners and vacationers about timeshare resorts.

“Hotels and motels and other non-timeshare travel services have been forced to become price transparent…as have just about every other product or service available to consumers. And still, the timeshare industry won’t budge on this because they cling to the concept that timeshares are not a sought-after product.”

Why Timeshare Resale Advertising Works

Strong words, but very perceptive. And they explain a great deal about why timeshare resale advertising is so effective.

• Consumers want the best price possible whether they are shopping for a hotel room or to buy timeshare or rent timeshare. Timeshare resales give buyers and renters the opportunity to shop from a large inventory of timeshares for sale or rent, where prices are clearly posted and resort features are specifically detailed.
• Consumers trust other consumers. Many people who buy timeshare or rent timeshare really like the idea of doing business directly with the property’s current owner.
• And as Schreier points out, “If a consumer can purchase a timeshare from the developer for $20,000 or a similar product on the resale market for $5,000 or $6,000…why wouldn’t they?”

Helpful reading: Surviving a Timeshare Presentation by Lisa Ann Schreier

For the third quarter of 2009, Starwood Hotels and Starwood timeshares has reported EPS at $.22 as compared $.62 for the same quarter in 2008. And while this comes as no surprise to anyone inside or outside the industry, there was at least one important bit of information in the report I found particularly interesting.

Here’s a summary of some of the notable points from their Quarterly Report, especially as related to Starwood timeshares:

• Operating income from Starwood vacation ownership (Starwood timeshare) and residential declined $47 million compared to 2008.
• Frits van Paasschen, CEO of Starwood says referring to both the timeshare and the hotel segments of the company’s business: “Over the past twelve months we have focused on cost containment and debt reduction, which positions us well to ‘Own the Upswing’. Our increasingly fee-based, capital-efficient business model will grow as REVPAR recovers and as our pipeline translates into unit additions. Our owned hotels are skewed towards the high end and have been particularly hard-hit over the past twelve months, implying they are poised for a strong rebound as the world economy recovers. And with half of our hotels outside of the United States, we will benefit from secular growth in international markets …With the $6 billion Sheraton Revitalization Program nearly complete, I can’t think of a better time to aggressively re-launch the brand than into the early stages of an upcycle.”
• Starwood timeshare reported a revenue decrease of 31.7 percent to $125 million as compared to 2008. Starwood also implemented what it calls “significant cost reductions” in its timeshare division, (which most notably came in the form of timeshare sales staff layoffs, one would speculate, not in decreased services to timeshare owners).
• The average sale price of Starwood timeshare dropped by nearly 22 percent, which Starwood notes is primarily due to increased sales of lower value timeshares …

And here is one of the most significant point to be gleaned from Starwood’s report in regards to timeshare sales. In addressing which factors contributed to Starwood timeshare’s drop in average sale price, they reported a higher percentage of biennial sales.

Very noteworthy fact here, don’t miss its significance: Consumers still wanted to become Starwood timeshare owners. They still wanted to buy timeshare and to enjoy the benefits of timeshare vacations. And when the economy makes it challenging, they just change their game plan and opt to enjoy the properties every other year, rather than annually. Bottom line—they didn’t give up their dream of timeshare vacations; they simply adjusted the schedule.
Click here to read the full report.

Click here to read the full report.