vacation ownership

A recent Resort Development Survey conducted earlier this month at ARDAWorld 2012, the American Resort Development Association’s Annual Convention & Exposition, revealed confidence by industry professionals in a rebounding vacation ownership industry.

According to Perspective Magazine, approximately 64 percent of timeshare professionals predict 2012 timeshare sales will be stronger than sales recorded in 2011. Likewise, 55 percent say consumer interest in timeshares is stronger today than it has been during the past three years.

Dean Graham, President, Capital One Bank’s Commercial and Specialty Finance Business, says, “The positive outlook we’re seeing in the timeshare market mirrors the increasing sense of optimism we’re seeing in other industries. In fact, the recent deals our team has closed, particularly in Q1, reflect strong demand for growth across the healthcare, security and defense, asset based lending and equipment leasing and finance industries.”

Jim Casey, Senior Vice President, Capital One Bank’s Commercial and Specialty Finance Business explains, “The Capital One Bank Vacation Ownership team helps developers capitalize on the anticipated growth in timeshare sales … With the industry’s renewed optimism comes a need to access capital, and our team addresses this issue by partnering with operators to provide financing solutions utilizing our strong balance sheet and industry expertise.”

A key takeaway here is that many lenders find specialty lending to be a strong growth tool for commercial banking in general. Specialty lending and specialty financing are relationship building tools that not only grow businesses and support industries but strengthen the economies of communities and even entire geographic regions.

To read this article in its entirety, go to: “Sixty-Four Percent of Vacation Ownership Industry Professionals Anticipate Growth in Timeshare Sales in 2012, Finds Capital One Bank” at PerspectiveMagazine.com.

Vacation Ownership That Doesn’t Own You

Vacation Ownership means different things depending on who you ask. There’s the kind of vacation ownership that involves sole possession of a beach house, mountain cabin, or other holiday getaway property. When you first buy that vacation retreat, it may seem like the best idea you ever had. You pack up the kids and the dog and head for your “second home” as often as you can. But after a short while, things begin to change.

Your kids realize they don’t like being away from home so often. They want to stick around on weekends and hang out with their friends. Even your spouse starts making excuses for why the family shouldn’t make the drive to the vacation house next weekend.

Still, you aren’t concerned; you planned ahead to use your vacation home as a rental when you aren’t enjoying it yourself. Yet, there’s the hassle of scheduling and confirming the renters. Soon you are looking for a management agent to handle these responsibilities for you, along with that of finding a plumber, repair service, pest control, and endless number of other tasks that befall homeowners. That vacation home you dreamed of owning starts to own you, (rather than you owning it) as the costs and responsibilities mount, outweighing the pleasure you are deriving from it.

Making Vacation Ownership Work for You  

But there is another side to vacation ownership and a brighter picture that is a better fit for millions of vacationers.

The opportunities of vacation ownership through timeshares, especially affordably priced timeshare resales and timeshare rentals, enable you to own vacation property in a way that is customized to your budget and your vacation style.

Timeshares, purchased as deeded ownership or as vacation club points, allow you to pay for only the days and nights of vacation you expect to typically be using each year. Rather than the cost of owning a vacation home 365 days a year, timeshare vacation ownership lets you pay for and “own” the weeks you actually anticipate using your timeshare, typically one, two, or three weeks of vacationing. The cost for maintaining that vacation home the rest of the year is a responsibility you don’t have to bear.

Instead of owning the headaches of a second property; you have taken ownership in a vacation lifestyle. You have made a commitment to your family and yourself to enjoy the vacations that you need, deserve, and have earned. Timeshare means taking ownership in vacationing without letting the costs and responsibilities of a vacation home take ownership of you.

With jobs and the economy remaining a personal issue for many and a global issue for all, the strength and stability of a timeshare job, or jobs in the fractional and vacation ownership sectors is a subject of importance. In terms of employment, travel and tourism is the second largest job creator in the US (education tops the list), directly employing 98 million people in 2011. According to the World Travel & Tourism Council (WTTC), counting both indirect and induced employment in travel and tourism, the field sustained 255 million jobs in 2011, which is 1 in 12 of all jobs in the world.

Preparing for a Vacation Ownership or Timeshare Job

When timeshares were just getting started in the United States, more than 40 years ago, there were no college programs that specifically addressed the timeshare business or that prepared you for a timeshare job. The founders of the industry came into timeshares with training in business, marketing, and a variety of hospitality industry backgrounds.

Today’s young candidate for a timeshare job may enter the industry with the same types of skills and training or may be a graduate of one of the many excellent higher education programs in hospitality management that includes specific coursework to prepare him or her for a successful career in timeshare sales, management, marketing or other aspect of our industry.

Among the many universities offering top hospitality management programs to prepare you for a timeshare job are:

• Cornell School of Hotel Administration, the country’s oldest college of hospitality management and is rated number one in the world.
• University of Nevada at Las Vegas Harrah Hotel College
• Michigan State University School of Hospitality Business
• Pennsylvania State School of Hospitality Management
• University of Central Florida Rosen College of Hospitality Management

And while we are on the topic of jobs in timeshare sector, this is an appropriate time to mention Executive Quest Inc., a leading timeshare industry job search provider. It’s time for Executive Quest, Inc.’s Salary Study for 2012. Your participation in this confidential salary study provides valuable information for profiling careers in the timeshare, fractional, and vacation ownership industries. Find out more here:  Executive Quest Salary Study or contact Keith Trowbridge here: [email protected]

Last night, at the Venetian Hotel in Las Vegas, the timeshare  and vacation ownership industry honored and celebrated its successes — the best and brightest of the past year.

In a black tie affair, where everyone sparkled, we dined together and shared both the humor of entertainer Tom Papa, as well as  many laughs with “comedians” from the vacation ownership industry itself.  (Who knew we could be so  funny?)

The awards are numerous and we will be looking more closely at the award winners in upcoming days, but for now, let’s just say that  despite reporters who choose to write stories that mislead the public; despite an economy that challenged all (not just timeshares and vacation ownership); and despite the fact that nearly every one of us has more to do in a single day than we can possibly accomplish, the men and women of timeshare still found time to:

• excel to excellence in service, communication, design and innovation
• share of their time, talents, and service with those less fortunate
• and dream new dreams and accomplish new realities.

… and this is the message, that won’t make headline news, but truly should.