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What makes the study unique is the use of externally verified data from audits, rather than self-reported data. The metrics presented in the benchmarking report are intended to help resorts identify potential problem areas and assist them in asking questions about differences to aid in improving resort health.
Tom Durkee and Lena Combs, Withum partners and lead CPAs of the Orlando-based division of the Hospitality Services team, say their group has produced the study for more than a decade.
“This study spans data from 2003 through 2016, and metrics are presented for different periods based on their relevance,” says Durkee. “The study includes comparisons of accounts receivable and bad debt performance, liquidity, developer involvement, assessment rates, expenses and several other metrics.”
Adds Combs, “Last year, we created a podcast to help explain our methodology behind the creation of the Benchmarking studies and to provide our views on how the information may be useful to resort operators and HOAs, which can be found online at| www.Withum.com/podcast/podcast-annual-timeshare-benchmarking-study.”
For more information about the project, contact Lena Combs (LCombs@Withum.com) or Tom Durkee (TDurkee@Withum.com) at 407-849-1569. To request a copy of the Timeshare Benchmarking Study, send an email request to JLiem@Withum.com and include your name, company name, phone number and email address.
Scott Wilson, RRP