Marriott International Hotel and Timesahre Preview Earnings

NEW YORK (AP) - Marriott International Inc., the world's largest hotel company by revenue, reports earnings for the fiscal second quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Marriott, which owns brands including Ritz-Carlton, Residence Inns and Renaissance Hotels, sold its 50 percent interest in its joint venture with British leisure group Whitbread PLC in April. The Royal Bank of Scotland PLC acquired the joint venture in a deal worth $1.7 billion including the assumption of its working capital. Marriott received about $178.6 million for its share of the proceeds and will continue to manage the hotels as part of agreements reached at the time of the sale.

EXPECTATIONS: Marriott's synthetic fuel business, a tax credit program, has boosted the company's earnings by millions of dollars in recent quarters. But a jump in oil prices, which leads to phase outs of the credits, prompted Marriott to close down its four synthetic fuel plants and remove it from company forecasts. Without synthetic fuel, Marriott expects second-quarter earnings of 76 cents to 81 cents per share, including the timeshare accounting change. On average, analysts polled by Thomson Financial are looking for earnings of 40 cents per share, which includes a 3-cent per share expense. Revenue is seen at $2.81 billion.

STOCK PERFORMANCE: Marriott shares rose 4.6 percent during the quarter and closed Monday at $37.52 on the New York Stock Exchange, up 12 percent for the year.

...it's time to buy...

Associated Press Business News: Earns Preview: Marriott International - MSN Money

technorati tags:timeshare, Marriott, International, timeshare

New timeshare in Perth Australia

Australia's leading timeshare company, Accor Première Vacation Club (APVC) has announced they had unconditionally contracted to purchase 59 apartments at Busselton Bungalows from Westralia Property Management Ltd for a price in excess of $11 million, with a proposed settlement date of August 16th 2006.

This acquisition increases APVC’s investment Australian and New Zealand tourism property to over $68 million.

The fully self-contained studios, 2 and 3 bedroom apartments will undergo a soft furniture refurbishment to upgrade the accommodation and facilities to 4½ star standard.

The resort, situated on the beachfront at Geographe Bay, 2.5 hours drive south of Perth, offers an extensive range of facilities including indoor and outdoor pools, two tennis and two squash courts, a gym and games room.

The property is to be re-branded to a Grand Mercure Resort, managed by APVC Resort Operations Division and will be available for APVC members as well as non-members, who will be able to book rooms on a nightly basis via normal distribution channels and Accor’s reservations systems.

APVC is well on track to record an impressive 2006 bottom line - with forecasts predicting over $100 million in gross revenue.

The current 15,000 member-base is growing at the rate of 6,000 per year and the anticipated growth for the total memberships is a doubling in the next two years. APVC is projected to employ over 1,000 nationwide the end of 2006.

Accor Première Vacation Club is a joint venture established between hotel operator Accor Asia Pacific and property developer Becton Corporation. The Club has been operating in Australia since 2000, with over 15,000 members who utilise the benefits of its flexible Holiday Ownership system in Australia, New Zealand and around the globe.

Accor’s Grand Mercure brand is a collection of distinctive boutique hotels and apartment complexes, each with their own individual style. Properties are selected for their distinctive style and character and reflection of local influences.

Accor currently operates 23 Grand Mercure properties in the Asia Pacific region.

...timeshare in Australia. Perth is very beautiful...

e-Travel Blackboard: Australia's Number One Industry Newsletter

technorati tags:timeshare, South, Perth, Australia, Australias, leading, timeshare, company, Accor, Premiere, Vacation, CLub, APVC, Busselton, Bungalows, Geographe, Bay

Timeshare rocked by claims of deceit

Lies and misinformation are among the scandalous claims levelled against timeshare giants Flexi-Club and the Club Leisure Group, accused of swindling tens of millions of rands from clients.

The matter has been investigated by the Department of Trade and Industry, and CLG is currently the subject of a second investigation by the South African Revenue Service.

Unhappy clients from Flexi-Club and Club Resorts International (CRI), both of which are managed by a CLG subsidiary, have also amassed scores of written complaints and signed affidavits placing serious allegations at the feet of Flexi-Club managing director and CLG chairperson Stuart Lamont. Lamont has distanced himself and his companies from the allegations.

At the heart of the matter is the claim that Lamont helped to engineer a deal in 2000 whereby a management company, Club Leisure Management (CLM), was formed together with the Southern African arm of global timeshare leader RCI (Resorts Condominium International).

In the same year, RCI also purchased CRI Operations, the company with the management contract to administer CRI Club, a popular, points-based timeshare concept.

S'bu Mngadi, managing director of RCI's Global Vacation Network for Africa, told the Saturday Star this week that RCI soon afterwards sold CRI Operations to CLM. RCI and Flexi-Club continued to own CLM, with RCI as a minority shareholder, according to Mngadi. CLM then took over the management of the CRI club.

...timeshare fraud

IOL: Travel clubs rocked by claims of deceit

technorati tags:timeshare, fraud, timeshare, giants, Flexi-club, Club, Leisure, group

Condo conversion planned for Ski Side timeshares

Condo conversion eyed for Ski Side timeshares

OCONO TOWNSHIP — Ski Side Village, a timeshare project on Camelback Mountain, will be partially converted to condominiums and used as collateral to clear debt and pay for renovations.

The project is headed by Alan and Adam Luckner of Bridge Associates of Pocono Township. They will transfer some timeshares to existing three-bedroom units, in order to free up 26 two-bedroom units so they could be sold as condominiums.

The two-bedroom units each have two stories, and measure approximately 1,300 square feet.

Funding for the project — $1.65 million — is coming from Kennedy Funding of Hackensack, N.J.

...timesahare to accomodate everyone...

Pocono Record - Condo conversion planned for Ski Side timeshares

technorati tags:timeshare, Ocono, township, Ski, Side, Village, Camelback, Mountain

Timeshare sales staff are hassling Maltas tourists

Guildford, Surrey, UK -- (SBWIRE) -- 07/10/2006 -- Too many incidents of tourists being confronted in the street while on holiday in Malta has led to the Maltese authorities taking action against the timeshare companies who employ sales staff to seek out possible visiting buyers.

Complaints have risen in recent years from holiday makers who have had their time on the island spoiled by being approached on a daily basis to attend presentations - that can last up to four hours -in the hope that some will buy into holiday property ownership and timeshares.

But the Malta tourist authorities have seen the damage it is doing to the island's economy, and have decided to act.

'It has come to the stage in Malta', comments Roger Munns of Malta travel guide http://www.yourmalta.com , 'that some holiday makers are being approached on a daily basis - sometimes twice a day - by timeshare touts who get paid a commission for every potential buyer they persuade to take to a presentation. As well as the feeling of not being able to go out without being accosted by these people some were giving verbal abuse to those who declined, or simply followed them down the street after being told no - and hounding tourists'.

With the tourism market vital to the Malta economy, the Malta Tourist Authority recognised that some visitors would be so put off the island by high pressure sales people that they wouldn't return - potentially losing Malta millions in lost revenue from repeat visitors.

Time alone will tell if Malta can protect her visitors.

..there is nothing worse than being hassled on your holiday...

SBWire > View Release > Malta - Tourist Authority Takes On the Timeshare Touts

technorati tags:timeshare, sales, consultants, Malta, tourists, Malta, Tourist, Authority, timeshare, reps

Hotels converting to timeshare condos: New Trend in Collier

source

COLLIER COUNTY: A hotel with 20 years of history is shutting its doors for the last time. The Radisson on Marco Island is closing to make way for timeshare condos. But hotels converting into condos are a growing trend in Collier and many people are concerned.

The Marriot Vacation Club is buying the Radisson. Many travelers and businesses say the closing will have a big impact on the economy.

Cecilia Pincock has been coming to the Marco Island Radisson for 10 years.

"We come here all the time for vacation and spend the whole week," said Pincock. "It’s the most reasonable rates on the island and we're sad to see it close down."

If the sale goes through, the Radisson’s 270 rooms will be converted to timeshare condos.

"That certainly will have an impact on the overall visitation numbers for Marco Island," said Jack Wert of Collier County’s Visitor’s Bureau.

....this is a new trend converting hotels into timeshare condos, as it is very profitable for developers...

technorati tags:timeshare, Radisson, Gates, McVey, Development, Hilton, Marriott, Collier, County, Marco, Island, Marriott, VacationClub

Timeshare company opens in NW biggest metro

New Mexico Business Weekly.

Trendwest Resorts has opened its first sales center in Albuquerque at 6700 Jefferson St. NE. The timeshare business, which is part of Cendant Timeshare Resort Group of Orlando, Fla., has hired 25 employees in sales, marketing, telemarketing and administrative positions.

Earlier this year, the owner of the Conejos Office Park, where Redmond, Wash.-based Trendwest is located, decided that its 8,000-square-foot building, called the Conejos Executive Offices, was better suited for one lease, rather than 15. In mid-January, a letter notifying the tenants about the closure of the office park was sent out to the tenants at the time, giving the businesses more than two months to find another location. The 15 businesses were either on six month or month-to-month leases.

Trendwest's network operates 59 WorldMark resorts in the U.S. and international locations such as Mexico and Australia. Trendwest is the exclusive developer and marketer of WorldMark, The Club, whose clients purchase ownership interest in the club through Trendwest.

...nice one...timeshare opening up making it more flexible for people to get around and travel...

Timeshare company opens in NM's biggest metro - New Mexico Business Weekly:

technorati tags:timeshare, Trendwest, Resorts, Cendant, Timeshare, Resort, Group, Orlando, Florida, Conejos, Office, Park, Conejos, ExecutiveOffices

Timeshare buy is keeping diver nicely afloat

Grandmother's advice seems to be paying off for this investor, but he wonders if he can do better, Kerrie O'Brien writes.

AT the relatively tender age of 23, Alan Beazley owns an apartment in suburban Sydney. "I was very fortunate to have had my family provide me with an interest-free loan of $440,000 to purchase my first property," he says. "I invested an additional $20,000 that I saved up and purchased an apartment worth $460,000."

Alan has a timeshare plan with his girlfriend of two years, Tatiane. They plan to use it in December when they will head to Europe to see family and friends.

...that's putting your eggs into different baskets, timeshare, property, shares...

Apartment buy is keeping diver nicely afloat - Money - Business - Home

technorati tags:timeshare, investment