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| Resort Trades: September 2015 | |  Interval
International’s 17th Annual Shared Ownership Investment Conference
(by Judy Kenninger, RRP)
In just a few weeks, more than 500 of the timeshare industry’s best and brightest are expected to gather in Miami Beach for another edition of Interval International’s Shared Ownership Investment Conference. To be held September 30-October 2, 2015 at the Fontainebleau Miami Beach, the 17th annual event’s attendees will include potential new entrants and lenders, as well as existing developers and resort operators. Why do they keep coming back? “We continue to grow this conference by delivering content that’s relevant for both new entrants and established players who seek fresh perspectives along with hard data on the trends affecting them,” says Bryan Ten Broek, Interval’s senior vice president of resort sales and marketing. Headlining this year’s conference is Lynne Lancaster, co-founder of BridgeWorks, which advises many leading American companies, including 3M, American Express, Coca-Cola, and Disney, on how to bridge generational gaps at work and in the marketplace by understanding the differences that drive them apart. Her best-selling book, When Generations Collide: Who They Are. Why They Clash. How to Solve the Generational Puzzle at Work has been a consistent favorite among CEOs. (more) Creating a Unified Vision
for Social Responsibility (by Lisa Wanzenried)
There’s a strong chance that you and your employees are already giving back. I’ve observed that many resorts are deeply involved in their local communities, and the industry as a whole has a passion for social responsibility. Just consider Christel House, which provides education and other services to children from low-income families. Started in 1998 by RCI co-founder Christel DeHaan, Christel House is the charity of choice for thousands of timeshare resorts worldwide. Companies have rallied around the cause, stocking Christel House coffee, hosting annual golf tournaments, donating auction items, and facilitating voluntary payroll contributions. In a similar partnership, more than a dozen timeshare developers, travel clubs, and exchange companies provide breast cancer survivors with complimentary resort accommodations through the non-profit Send Me On Vacation. Resorts donate association-owned inventory that would otherwise sit empty, and women who could not afford a vacation enjoy much needed time away with their families. (more) Advising Your HOA Board:
Your BOD and the Law (by Brian Welch)
W. John Funk is a shareholder/director with Gallagher, Callahan and Gartrell, and he told us that the number one issue every HOA board should focus on is sustainability – whether the resort has a long term plan to survive. “To make that determination, the board should consult with experts in the field to learn whether the resort is competitive with other offerings in the marketplace, what improvements need to be made to continue to be competitive, how much that will cost, whether the products the resort is offering are what consumers want and need, the marketability of its products for resale, the involvement of its owners, their delinquency rates and trends, whether the HOA has a process to recapture delinquent inventory, whether the resort has been a victim to timeshare transfer company scams, ratings with exchange companies, among many other things,” Funk explained. If the facts support a conclusion that a resort is sustainable, according to Funk, the HOA should develop a strategic plan to achieve that goal, and work to get the financial support from owners and financial institutions. If a resort is sustainable, then it should consider converting to a trust regime to have better flexibility in product offerings. (more) About Resort Trades
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