An Interview with the Wyndham CEO – USA Today

A business travel correspondent from USA Today, Barbara de Lollis, has interviewed the chief executive officer of Wyndham regarding the recent downswing in the timeshare business and how it has affected the company – Wyndham.

There was one particular question which was asked that gave away a striking answer. This question was about the reason why their company has laid-off about 4,000 employees. This interesting question was then answered by the CEO in that every business across the world felt the pressure of the recent turn-up of the macroeconomic environment. No company – or their company for that matter was even resistant to it. The event where the tightness of the capital markets became seeming, it has created an environment where they have to take the sales down. When they sell timeshare, they let people lend the people some money for 50% of the time to buy it. Then the company goes to the insurance companies and banks so that Wyndham could lend money. Unfortunately, the lenders shut down. Because of what happened, their company was left with no choice since it has narrowed down the amount of capital where they had to make available to the buyers, who their company sells timeshares to.

With this, now we know that half of the timeshare owners, who buy with Wyndham, buy the properties with corresponding loans. It seems like there is a very high number and points pointing to the fact that many timeshare owners might not know what they are purchasing. The paying interest on a timeshare is the same as paying someone to make more of the consumer’s money. With the existence of maintenance fees, special assessments on top of a mortgage, people who own a timeshare are not only paying a huge amount of money but also contractually compelled to pay for a long time. It could have been hassle-free for a lot of people not to buy time share properties and just pay for their vacations individually.

This may seem to be very unfortunate, but still a lot of time share owners believe that they are making a very good deal in investing their money in time share. After all, having the right to own a property and having all the fun and leisure just within reach despite their very frantic schedule seems to be really rewarding. This means, that paying a whole lot of fees is not really a big deal anymore.

Hilton Hawaiian Village Two-Tower Expansion

Since Hilton timeshare been so experiencing such a great success at the Hilton Grand Waikikian Tower, the timeshare company has announced that it has been planning a two-tower expansion with 550 rooms at the Hilton Hawaiian Village which will be entirely dedicated to timeshare.

Last 2008, the Hilton Grand Waikikian Tower timeshare was completed and is currently providing timeshare units for the 22-acre Hilton Hawaiian Village. Ted Middleton, who is Hilton’s Senior Vice-President of development in the Americas is seeing the adding of a new timeshare at the famous resort can be is a potential and could be a good business. In an interview, he said that the expansion will give an ample amount of product to sell well tho the coming decades. It is of great importance to have a new inventory to check into its growing demand.

This new Hilton timeshare project that is self-financed will almost double the timeshare accommodation capacity at the Hilton Hawaiian Village Beach Resort. The project will be able to bring about an expected number of roughly 700 jobs to the area excluding the number of workers who will be working for the construction during the phase of the project.

Midweek.com recently reported that timeshare has become so important to Hawaii since it touches some 34,420 workers. A study conducted in 2007 divulged that the economic impact of timeshare was in a rough estimate of 4.5 billion dollars having 500 million dollars for their tax revenue.

Owners and renters of timeshare that are having a vacation in Hawaii timeshare spend an average amount of 4202 dollars every time they visit. This means that an astounding eighty-six percent of these dollars do not only end up just in the busiest Hawaii timeshare destinations such as the Waikiki timeshare or Kannapali timeshare but also being spent from the resorts in malls, grocery stores, entertainment, restaurants, and even convenience stores.

News has been saying that everything has been going so well and that future jobs for the people are coming soon is a really good thing to hear and is something to look forward to or even celebrated. But this doesn’t mean that people never want to appear that they try to minimize the situation of unemployment today because life doesn’t change overnight even if there is a strong need for it. At least, the number of people unemployed and hopefully, if any expansions are coming up – then, once again, other people will be given a chance to have jobs and earn.

What is Timeshare Vacation

Timeshare vacation. Still many people want to experience this one. It is like owning an apartment where you can be free to do anything or simply to relax. Since the season is summer, ‘tis the best season to avail of timeshare.

If you want to own your timeshare for the vacation, you must buy one. Of course, one should know that owning a timeshare is quite expensive. Remember that owning one goes with paying its maintenance fees, taxes and other fees annually. But when you own one, rest assured you will have a relaxing place to stay during vacation.

What if you do not have enough money to own one? According to a blog post of Clark Kinney entitled Planning Your Summer Timeshare Vacation, if you do not want to exert a lot of effort in spending your money in a timeshare during vacation, you can always opt to rent one. In fact, nowadays, there are websites where you can select a timeshare you want to rent, whatever location would benefit you. If you really want to see the place before even thinking of renting it, you can always opt to visit it first.

Moreover, the advantage of renting a timeshare with owning one is that you do not have to pay for the fees of the same timeshare annually. You get to choose what timeshare to rent during vacations. You are not trapped with choosing to stay in the same timeshare if you own one. You would not have any problems of ditching it if you do not like or appreciate it anymore.

On the other hand, with owning a timeshare, you have to think a lot of times. Most importantly, like what was mentioned above, you have to think if you can sustain the payment of annual fees when owning one.

Whichever way, you may enjoy your timeshare vacation. Just be wise in choosing how you would like to have your timeshare vacation.

About Buying Timeshare Villas

Of all the vacation properties offered through timeshare, villas are quite in demand these days. Villas are upper class country houses that were influenced by the Roman Empire. A lot of people love to live in villas during the 1-week vacation they have because villas give them a different experience that they can never get when they are just in the comfort of their own homes. If you are one of those people who want to experience living in a villa, then here is important information you should know when choosing the timeshare villas.

There are different kinds of timeshare villas. Some of them may be of your taste, while some of them would not. The types of villas will depend on the timeshare companies you choose. Many of these companies can help you exchange your timeshare for other timeshare villas via point systems or on a week for a week basis.

Aside from getting help from timeshare companies, you can also try searching for independent timeshare owners who sell or who want to trade their timeshare. Timeshare sale on the internet can give you some discount or some haggling opportunities. Just make sure to choose the right sellers and the more credible ones.

Think twice. Be open to more options. Make sure you really need a timeshare villa and you can afford all its payment demands. Good luck and enjoy!

The Good Things About Timeshare Rentals

Everyone wants to spend a nice getaway on a foreign place and experience the adventures and excitement. However, because of the high cost on travelling and accommodations, not all people can have that kind of vacation. Timeshare rentals are good options to achieve such deserving break. People can enjoy the luxury of an amazing accommodation while only paying a minimal cost. Timeshare is basically sharing the total price with other parties over a period of time. This is one practical option to dive in into your dream escapade, without thinking much on the expense.

As the name suggests, timeshare is sharing of a property over a specific interval of time. Cost sharing is not really new to us. A lot of people have already been enjoying this kind of accommodations. From time to time, the property is used from individual to another individual, thus cost of the property’s maintenance minimizes. A person may own the property for a couple of weeks or for years. This is like your home away from home but with exciting perks.

However, no matter how appealing this can be, as an investor, you have to take heed for some problems that might arise upon purchasing such timeshare investments. With all those wonderful benefits for these rentals, you have to take consideration the security of such asset. Since some of these timeshares are located miles away, it would be hard to assess the physical area of the units you want to assume. Payment is also another factor you need to consider. Just to resolve all these doubts, it is better to visit online timeshare caretakers over the net. There are a lot of credible sites on the net that caters such concerns. A lot of these websites offer timeshare assistance and referencing homeowners, potential buyers and sellers. These sites are private and secure. However, to ensure your defence, certify first if the services offered are genuine and dependable. You can do this by reading reviews of the site and some have testimonials.

Luxury St. Lucia resort Cap Maison Now Open to Timeshare Owners

Luxury-loving timeshare owners, rejoice: Cap Maison, the award-winning luxury resort on the Caribbean island of St. Lucia, has partnered with timeshare exchange giant Interval International.

Interval is a recognized worldwide provider of vacation exchange ownership membership programs and services. Based in Florida, the timeshare company operates in 16 countries and has an exchange network of 2,500 resorts in over 75 nations.

Cap Maison was awarded the Condé Nast Johansens 2010 Most Excellent Hotel Award, and also made the Condé Nast Traveler Hot List last year.

The heavenly timeshare haven is located on a former sugar plantation in Cap Estate. It has its own yacht for private tours around the island.

“We are thrilled to add this tranquil hideaway to our resort network, so that our members will have the opportunity to enjoy an unforgettable Caribbean holiday,” said David Gilbert, Interval’s executive vice president of resort sales and marketing.

Influenced by Spanish Caribbean architecture, the resort has colonial-style courtyards, fountains, terracotta roof tiles, and spacious balconies and terraces.

Timeshare owners can stroll along the five acres of lush landscaped gardens that encircle the bedroom units bedecked with designer furniture and plush fabrics. The units offer breathtaking views of nearby Pigeon Island and Martinique.

Adam Gobat, CEO of Cap Maison Limited said, “It was our hope to create an exceptional resort that would be sought-after by the most discriminating travelers and enjoyed by others, as it has been by us. Now, our owners will have the best of both worlds – they can come home to Cap Maison or travel the globe when they trade their time for a vacation at one of Interval’s high-quality properties.”

Timeshare owners can savor the selections at the gourmet restaurant, wine cellar, and three bars, invigorate themselves at the cliff-top infinity pool, fitness center, and at the beauty spa, or simply enjoy good reads at the library.

There are also numerous water sports, including kite surfing, snorkelling, windsurfing, sailing, and kayaking. Others can opt for trail running, hiking, or taking a tour of the island on the resort’s yacht. The timeshare resort is just a few minutes away from St. Lucia Golf and Country Club, and Rodney Bay, the island’s nightlife center.

The Miami Herald Warns Against Timeshare Resale Scams

The state of Florida, filled to the brim with resorts, is home to one-third of all the timeshares in the United States. With the current state of the economy, thousands of troubled shared vacation property owners are anxious to resell their properties, which is why more and more timeshare resale companies are now entering the field.

The Miami Herald is advising property sellers to be wary of companies that claim to already have timeshare buyers waiting for the property.

These bogus resale companies usually contact timeshare owners and inform them that they have a buyer lined up. However, the owner will only have access to the buyer upon payment of a processing fee.

The article quotes the creator and operator of a legitimate timeshare listing website, who says counterfeit companies convince desperate sellers to give out their credit card number or send a check, to pay for the processing fee.

Companies usually promise that in case the property cannot be sold within a few months, they will refund the fee. But once the said fee is paid, the resale company vanishes, and the owner realizes there was never any real prospective buyer. The owner is then still left with the vacation property and has also been duped out of hundreds or thousands of dollars.

Worse, the article says, there are also companies offering to help sellers who have been previously scammed, only to scam the seller a second time. When a bogus resale company closes, it usually resurfaces under a different name, but with the same customer list.

The Florida Attorney General, the newspaper says, has investigated the practices of about 17 resale companies, and has sued three and reached settlements with seven more. The settlements have reportedly reached $1.6 million in customer refunds.

The Herald also said the attorneys general in Arkansas, Massachusetts, North Carolina, and Oklahoma have issued their own warnings regarding timeshare resales.

To ensure you don’t fall for these scams, never pay a substantial processing fee in advance when dealing with a timeshare resale company. Pay only after the resale has been completed.