Posted by: timesharedude in Untagged on
Oct 29, 2009
Wyndham Worldwide Corp.'s (WYN) third-quarter profit decreased 27% as the company's hotel and timeshare businesses continued to suffer amid broad industry weakness.
The company also expects fourth-quarter earnings of 35 cents to 38 cents a share. Analysts polled by Thomson Reuters expected 32 cents. It also reaffirmed its 2009 earnings forecast.
Posted by: timesharedude in Untagged on
Oct 27, 2009
In an undercover sting, we have discovered that Trotta's sales staff in Malta are still exposing holidaymakers to the risk of losing thousands of pounds.
Last year we reported that buyers were lured into purchasing blocks of weeks at Trotta's resorts in Tenerife on the promise of selling them on for a profit.
Posted by: timesharedude in Untagged on
Oct 23, 2009
Mr Taylor presented Mark Cushway, Managing Director of Resort Properties, with the official TATOC flags in recognition of their high standards of ethics in sales and marketing and their dedication to following European legislation. The flags will be proudly flown outside their four resorts in Tenerife: Palm Beach Club, Beverly Hills Club and Heights and Hollywood Mirage.
TATOC's Accreditation Process examines in detail a resort's activities, including their commitment to following official codes of ethics and legislation, their ability to produce clear, informative literature about their products, the implementation of comprehensive complaint handling procedures at the resorts, production of the appropriate resort insurances and adherence to local fire, safety and food hygiene legislation.
Posted by: timesharedude in Untagged on
Oct 20, 2009
On July 1st of this year, Florida House Bill 61 (approved by Governor Crist, Chapter 2009-133) became effective, and Florida's tax laws were amended to clarify that the use by an owner or an owner's guest of a timeshare accommodation located at the owner's timeshare resort (or located at another resort and obtained through an exchange program) is not subject to Florida's sales and tourist development taxes.
Posted by: timesharedude in Untagged on
Oct 7, 2009
Marriott wrote off approx. $466 million in timeshare loses in its last fiscal quarter. The company president is saying that they are dropping pricing to accelerate cash flow and that customers are now paying cash for one-week timeshares. Hotel companies are finding out that the real estate sector has its drawbacks and Marriott has been plagued for many years investing in timeshare space.
Posted by: timesharedude in Untagged on
Sep 23, 2009
On wednesday, Daniel Isaac Mares was found dead in a hot tub in an Aspen timeshare. Police recieved a 911 call about a person that was unconscious and not breathing. Attempts to revive him failed police stated.
Posted by: timesharedude in industry news on
Aug 19, 2009
RCI, the global leader in vacation exchange and one of the Wyndham Worldwide family of companies (NYSE: WYN), today announced an affiliation agreement with Fairmont Resort Properties Ltd., the largest Canadian-owned developer and marketer of interval vacation ownership condominiums.
“With beautiful, top quality resorts in highly sought after destinations, Fairmont Resort Properties Ltd. is a wonderful addition to our RCI network,” said Geoff Ballotti, president and CEO, Group RCI. “We couldn’t be more pleased to add this leading developer and their unique properties to RCI’s collection of top vacation destinations. This affiliation is also a testament to RCI’s ongoing efforts to offer great vacations to our more than 3.8 million members.”
As part of this relationship, Sunchaser Vacation Club at Fairway Cottages on Oahu, Hawaii, and Fairmont Vacation Villas in Fairmont Hot Springs, British Columbia, join RCI’s network of more than 4,000 affiliated resorts worldwide.
“RCI invented the exchange business 35 years ago and has been the innovator and leader ever since,” said Murray Moore, CRO, Fairmont Resort Properties Ltd. “Their diverse selection of luxury resorts the world over deliver the highest quality vacations to their members. Being associated with RCI was important to Sunchaser Vacation Club at Fairway Cottages and Fairmont Vacation Villas. Furthermore, RCI offers exciting technology and marketing advantages for us as well as the largest possible selection of vacation resorts for our timeshare owners. We are very pleased to be working with them.”
Sunchaser Vacation Club at Fairway Cottages, located at the Makaha Resort & Golf Club, offers members an ideal Hawaiian vacation setting in the cliffs of the Waianae Mountains and Oahu’s pristine western shore. The resort offers Polynesian-style villa accommodations, an ocean view restaurant and lounge, and a host of on-site amenities for guests including a swimming pool, tennis courts and spa services.
Fairmont Vacation Villas is located in the beautiful Columbia Valley and offers guests the opportunity to stay in fully-furnished villas surrounded by nature and wildlife. The resort offers villas equipped with jetted tubs and decks with barbeques, while the area lends itself to many activities including hiking and biking trails, whitewater rafting, boating and horseback riding.
Posted by: timesharedude in Untagged on
Aug 7, 2009
With more and more timeshare buyers defaulting on their loans, the Walt Disney Co. recently assumed more than $200 million in additional liability to preserve a credit agreement between its timeshare subsidiary and Citigroup.
The agreement requires Disney Vacation Club to bundle together timeshare mortgages that it issued to buyers and sell then to Citi. In recent years, this securitization process has been a solid source of revenue for Disney, garnering an estimated $40million worth of operating profit for the unit during the 2008 fiscal year.
Posted by: timesharedude in Untagged on
Aug 3, 2009
Timeshare conmen are repeatedly targeting victims in Somerset.
According to trading standards officers at Somerset County Council, during the past year dozens of people in the county have been conned out of hundreds of pounds in timeshare re-selling scams - and it has emerged that the fraudsters have been approaching the same people again, demanding yet more money from them.
KXNT- Two men who beat to death a 62-year-old man have been given two consecutive life sentences.
