Revenue From Timeshare Market Increases

By Macushla N. Pinder

Revenue from the timeshare market increased by close to 70 percent during the 2005/2006 fiscal year, "substantially" exceeding expectations, according to Minister of Financial Services and Investments Vincent Peet. Minister of Financial Services and Investments Vincent Peet

Government officials had projected that collections in this area would have climbed to $600,000 during that period, but that figure ballooned to $813,647.10.

In 2004/2005, revenue was $483,250, according to the minister.

He said that while no new timeshare properties were added in 2005, the application submitted by Taino Beach Resorts in Grand Bahama is currently being reviewed.

Additionally, he said the first 100 percent fractional timeshare resort, the 80/50 Club in Exuma, is expected to open for business in late 2006.

Baha Mar is also expected to have a "significant" timeshare component, according to the minister.

...time to get some more timeshare...

Revenue From Timeshare Market Increases

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Sales Launched for Timeshare Restor in Kauai

ORLANDO, Fla., June 29 /PRNewswire/

Starwood Vacation Ownership (SVO), a division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), recently began sales of its newest Hawaii resort, The Westin Princeville Ocean Resort Villas.

Ground was broken in June 2005 for the oceanfront property located in Kauai, which comprises 18.5 acres dramatically perched 200 feet above Hawaii's famous Anini Beach and bordered by both of Princeville's championship golf courses, The Prince and The Makai. The mixed-use resort includes a two-story clubhouse and seven two- and three-story guest buildings with 179 timeshare villas and six hotel units. The first units are scheduled to open in 2008.

"With today's sales launch of this spectacular property, Starwood Vacation Ownership is continuing its long and positive history in Hawaii. Starwood's tradition in Hawaii dates back to the early 1960s, when our corporate parent came here as the first major hospitality brand on the Hawaiian Islands," said Raymond L. "Rip" Gellein, Jr., Chief Executive Officer of Starwood Vacation Ownership, Inc. "The Princeville community is one of the most storied and respected in all of Hawaii, and we are excited to be a part of its future with the first Westin-branded timeshare in Kauai."

A community-wide traditional ground blessing ceremony occurred during the ground breaking last June in which the Reverend Kahu Nani Hill presided. Also participating in the ceremonies officials from Starwood and community leaders including Mayor Bryan J. Baptiste.

...some classic Hawaiian R&R

HOTELS magazine

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Timeshare revenue soars for ACCOR

Fiona Cameron, ResortsJuly 05, 2006

ACCOR Premiere Vacation Club had gross revenue of more than $100 million in the past year as the holiday timeshare industry rode the crest of a wave.

The company spent $60 million buying property around Australia and New Zealand in the same period, APVC's chief operating officer Jim Sabot said.

This brought the portfolio to 15 resorts and properties, and three more deals were due to be announced soon.

Club membership was growing by 6000 per year, Mr Sabot said, and the organisation - based on Queensland's Gold Coast - would have more than 1000 employees by year's end.

APVC is a joint venture between the Paris-based Accor Hotels and Melbourne developer Becton Group.

Industry insiders say that from Accor's point of view, the Australian-based timeshare venture is an experiment that will be rolled out elsewhere in the world if successful.

...perhaps it's time to get timeshares in Australia?

Timeshare revenue soars for Accor | Property | The Australian

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