Transfer Smart News: Aspen Club Throws More Promises in their Efforts of Timeshare Expansion

The number of owners who are trying to get out of their timeshares may not be that high these days and the economy is slowly recovering. For some timeshare developers, this would be a great time to expand their operations. One of this timeshare companies is the Aspen Club and Spa which recently proposed to expand its operation. But the proposal faces some community issues and to overcome such oppositions, the said company has stated a number of promises to the area involved.

The Aspen Club and Spa timeshare expansion proposal includes a provision that would give every city of Aspen employee a free one-year membership if the club fails in its commitment to have valley locals comprise at least 50% of the membership rolls. This is just one of the proposals which were outlined in the latest version of the club’s application to add 20 timeshare units, 12 affordable housing units and 41 parking spaces to its site at the end of Ute Avenue.

Meanwhile, other concessions include a promise to reduce the club’s energy consumption, despite its increase in size. In the proposed ordinance which grants the expansion, it requires that the club submit to energy audits. According to Aspen Club and Spa LLC managing partner Michael Fox, there will be $2 to $3 million in upfront investment in better energy systems, such as a ground source heat pump. On the other hand, the club is also promising to not increase car trips on Ute Avenue, despite the 71 new bedrooms proposed for the property between the timeshare condos and the affordable housing units.

Currently, the owners who are getting rid of their timeshares may be slowing down along with economic recovery. For some timeshare companies, this is a great potential to expand their operations. And for Aspen Club, although there may be oppositions regarding their proposal for expansion, they are determined to win this. Those concessions and promises have been put on the table by the Aspen Club in an effort to win council and community approval.

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Transfer Smart News: Connecticut BBB Warns Consumers about Unscrupulous Timeshare Resellers

In Connecticut, owners who want to get out of their timeshares by selling it are recently warned by the Connecticut BBB about unscrupulous timeshare resellers who ask for thousands of dollars in upfront fees to cover closing costs for deals that never come to fruition. As the scams are very prevalent in this industry, such owners are susceptible to these offers that are too good to be true.

As a result of the current economic condition, selling timeshares has become a popular option for families looking to reduce their expenses and build up cash reserves. On the other side, there are also many fewer consumers who are buying timeshares for sale on the market. However, timeshare sales dropped 40% in 2009 according to the American Resort Development Association.

Some of the companies that have F ratings from BBB are Resorts Condo Management, Creative Vacation Solutions, Platinum Property Exchange and Premier Timeshares Solutions. These companies are said to convince a number of timeshare owners that interested buyers are already lined-up and that the sellers had to pay thousands of dollars in upfront fees for closing costs. But the said promises were never materialized.

Meanwhile, the Better Business Bureau has some tips for those owners who want to get rid of their timeshares by selling it. First, you may visit bbb.org and get a report on BBB Accredited Business timeshares. Review reports on all companies in this industry and compare their ratings. Also confirm licensing requirements as some timeshare resellers will use fake addresses or PO boxes to mislead timeshare owners. Verify this with the state licensing board. Moreover, don’t fall for the hard sell or an offer that sounds too good to be true as unscrupulous timeshare resellers may claim that your property is in demand and they can sell it immediately. But unfortunately, these promises are often empty.

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Transfer Smart News: Timeshare Industry Shows Resiliency after the Economic Downturn

The recent economic downturn may affect the timeshare industry in some ways and may even be the cause why some owners tried to get out of their timeshares but according to Jeff Tisdall, the RCI Middle East and North Africa managing director, the success of timeshares during the economic downturn has also caused the investors and owners to look towards shared ownership and mixed use developments in Dubai.

As Tisdall said, this is because the fundamentals which analysts look for when predicting strong potential for timeshare are all present in Dubai and most importantly perhaps, Dubai is really starting to mature as a leisure destination. He added that from a consumer perspective, the financial crisis helps to highlight some of the key advantages of timeshare as when times are tougher economically, we all tend to use what we already have.

Meanwhile, the move towards timeshare in the region is highlighted by the continued success of the market in destinations such as Sharm El Sheikh and Hurghada where timeshare owners have continued to travel, despite the economic downturn. Moreover, as Tisdall stressed out, if you looked back 12 to 18 months, the strength of the residential market made it very difficult for established vacation clubs to enter the Dubai market by acquiring a block of residential units and then offering them to their member base. Currently, the conditions are much more favorable.

Up to this day, there may still be a significant number of owners who are trying to get rid of their timeshares as a result of the recent economic meltdown. But that doesn’t mean that the timeshare industry is in crisis as a whole. As a matter of fact, there are even major timeshare investments in some areas like in Dubai which is seen as a great potential for timeshare business.

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Smart Facts You Should Know about the Timeshare Industry

The timeshare industry is considered one of the most popular industries in the entire world today. Although there is a considerable number of owners who trying to get out of their timeshares, there are still millions of individuals who look into timeshares and vacation ownership and is increasing with time.

The timeshare business has been around since it was introduced in the 1970s by a Frenchman who sold timeshares in his hotel rather than trying to rent specific rooms. Since the beginning of this business, the industry has seen a surge in sales especially during the late 1970s and throughout the 1980s. Today, there may be an economic downturn but many people are still making the time to save for a timeshare in some of the most exotic properties in the entire world.

With timeshare ownership, people pay for a property so that they can visit this place at either a fixed or predetermined time each year or a certain number of weeks each year. There are units which are available on exotic locations around the world today. In this way, any person can visit a new or exotic location but in an affordable manner. The price of a timeshare depends upon the location and the time of year you want to visit this place. Maintenance fee is also another important thing to consider when owning a timeshare. You are expected to pay a maintenance fee so that your property is taken care of even if you are not around to care for it yourself.

On other hand, some owners also rent out their timeshares if they are not able to visit it. There are also companies like RCI and ARDA that manage or organize large groups of timeshare properties so that people can trade time and move around the world. Timeshares are great for folks who want to travel as much as possible, want to see the world, and want to get away to some of the most beautiful places in the entire world but also bear in mind that are also costs involved with this type of vacationing.

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Transfer Smart News: RDO Encourages Timeshare Consumers to Come Forward with their Complaints

Timeshare scams dramatically increased for the past two years and in 2009, it was identified that the most common victims are those owners who are trying to get out of their timeshares by selling it. As part of an effort to help stamp out such fraudulent practices targeted at timeshare owners, RDO or Resort Development Organization which is the trade body for timeshare and fractional ownership, is calling for consumers to come forward with their complaints.

Another particular complaints cited by RDO are from people who have been invited to a presentation either to discuss ways in which to dispose of their timeshare or to join a class action scheme, but are then persuaded to sign up to membership of a holiday club of which they had no former knowledge. This deal is usually followed by a deposit which is frequently taken and no cooling off period is provided.

The evidences that RDO will gather from this campaign will be presented to the enforcement authorities in both the UK and Spain to enable them to take decisive and hard-hitting action, thus, putting a stop to the distress caused to people who have been misled by this type of activity.

As getting rid of a timeshare is not an easy thing to do these days, timeshare owners are prone to be a victim of such activities. As a matter of fact, over the last few years, the number of complaints reported to RDO regarding timeshare fraud allegations has steadily increased. Another thing to be cautious about is if you are approached by a company that you are unsure of and should walk away if you are asked to sign a contact which does not give you the right to withdraw. As this could be a possible scam, better check it with RDO.

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Transfer Smart News: Latin American Timeshare Industry Shows Resiliency in Difficult Times

During these difficult economic times, it’s no wonder why most people cutback spending. Usually, things that are considered luxury are avoided by most people nowadays and one of these is their ways of vacationing. That’s why we often see many owners nowadays trying to get out of their timeshares. But despite this, the vacation ownership industry in some countries still shows resiliency. Take for example, Brazil and Venezuela which recorded a double-digit growth in interval sales in 2009 mainly due to their sales in the domestic market. Latin America as a whole showed signs of strength and continued to attract new players to its vacation ownership industry.

According to RCI’s Executive Summary of the Latin American and Caribbean Vacation Ownership Fact Book, there are 61 new vacation resorts which joined the region’s vacation exchange system in 2009, and Latin America closed the year with a total of more than 1,200 affiliated resorts.

RCI also notes that 97% of interval sales in Brazil were done by domestic buyers. Meanwhile, Results from Venezuela indicate that Venezuelans purchased 99% of the 12,700 weeks sold in the country. With these and other data gathered by RCI in the region, the estimated sales of vacation weeks in Latin American totaled 212,316 intervals which is a 12% decline from the previous year.

The Executive Summary also indicates that despite the tough economic environment of the previous year, some other markets showed promising growth signs like Argentina, Uruguay, Brazil and Colombia with new timeshare players came into the industry and introduced new resorts.

The challenges brought by the recent economic downturn made several owners want to get rid of their timeshares. This is a way of minimizing expenses to battle such difficult time. But in spite of this, the vacation ownership industry in some areas like in Latin America still showed a robust condition.

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Transfer Smart News: Perspective Magazine Launches New Versions

In the timeshare and fractional industry, Perspective Magazine is regarded as the most read independent monthly publication. As the industry is faced with the challenges of low sales and an increasing number of owners planning to get out of their timeshares, such publication provides useful and up-to-date information regarding timeshare ownership to the intended stakeholders. Recently, it was announced that a new version would be launched at the ARDA Convention & Expo in Las Vegas that would be dedicated to the USA, Canada, Mexico & Caribbean markets.

There are more than 2,500 attending industry professionals who received the new version of Perspective Magazine in their delegate bags and were also able to visit the publication’s booth in the Expo hall throughout the three-day event.
According to its CEO Paul Mattimoe, by combining pre-launch and the convention, they’ve taken on 14 new advertisers in less than eight weeks, most of which range from 3 to 12 month campaigns. He added that there were also many others at the Las Vegas event who thanked them for creating this new version and were looking forward to becoming future clients once new budgets were approved.

Meanwhile, Perspective Magazine North America launched with a print and online reach of nearly 13,000 registered users. Thus, it became the largest independent monthly trade publication in the region and although plans are already in place to extend that lead significantly further over the course of the rest of 2010.

These days, although the economy is slowly recovering, a considerable number of owners still try to get rid of their timeshares. But with publication like the Perspective Magazine, the plights of such owners can be alleviated by providing relevant information regarding the timeshare ownership. In so doing also, this publication serves to attract more consumers to opt for timeshares as a way to vacation.

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Renting a Timeshare as a Smart Way of Vacation

Timeshares can be a great way to vacation and nowadays, there are some options to avail of this kind of property without actually buying it. As a matter of fact, some current owners get out of their timeshares and opt for those lesser cost of availing timeshares. One of these fabulous options is through renting a timeshare. Meanwhile, if you’re up to rent a timeshare, there are some important things that you should know before you jump into such option.

First, identify your reasons why would you want to rent a timeshare. In comparison to owning a unit, timeshare resorts are often luxury accommodations and you’ll expect also that it involves a greater cost. These usually offer also a number of amenities. On the other hand, units rented from timeshare owners can be cheaper than these. But be aware that timeshares typically rent for a week, and you probably will not get daily maid service unless you pay extra.

Another thing to ask also is how much of a bargain will I get from renting one. Renting as your option typically saves you up to half of what a resort might charge for the unit.

To learn about timeshare rentals, try to browse some sites on the net like RedWeek.com where you can search listings for free but must pay if you want to contact the owner. These sites also include user reviews of many resorts. Once you deal with an owner and sign a lease, typically, you send half the money who will register the week in your name. You can then call the resort to verify before sending the other half of the money.

These days, there are many owners who are renting out their timeshares and these can be great opportunities for those holidaymakers looking for quality but budget-wise vacation. With this option also, vacationers are free of those fees like annual maintenance fees that a typical timeshare owner has to deal with.

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