CALIFORNIA:

CARMEL: Hyatt Carmel Highlands, a highly regarded timeshare resort in a very special location overlooking California’s famous Big Sur, lets no grass grow under its feet in its efforts to add new and exciting programs for its guests. Recently the resort announced its new culinary experiences for 2013 in its Pacific’s Edge Restaurant. The four programs introduced for its Forks. Corks. Action! 2013 include: Experience the Wine Maker Series; Meet the Farmer Lunch Series, Shake, Rattle and Roll; and Hello Sunshine Thursday’s.

You can get all the details at Hyatt Carmel Highlands Announces Its 2013 Culinary Programs, and if you can possibly arrange to participate in any of these programs you shouldn’t delay!

A AAA Four Diamond award winner, Pacific’s Edge was named one of the Top 100 Restaurants in the U.S. by Zagat and one of the Top Ten Restaurants with a View by USA Today. Like I said, this is a highly regarded resort!

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Other than that, there doesn’t seem to be much going on in timeshare land west. Nothing juicy, anyway. Sorry ’bout that.



“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

CARIBBEAN:


DOMINICAN REPUBLIC:
Lifestyle Holidays Vacation Club is getting BIGGER. They have unveiled a new structure, called “The Tower,” that stands four stories tall and features many new services and attractions for LHVC members.

On the ground floor, The Tower has opened its newest gourmet restaurant, Azul, offering a white tablecloth experience and a specialization in fresh seafood.

On the roof terrace Anja’s Lounge can be found, Lifestyle Holidays Vacation Club’s tropical-themed cocktail lounge with a relaxed and casual atmosphere. It also doubles as an observation deck, offering panoramic views of the Atlantic Ocean and the mountain ranges that surround the resort. Oh yeah, and there’s a helicopter pad up there, too.

In between you will find Member Services and the Sales Department.

I’ll say one thing for LHVC, they think BIG!

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“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

Join us for a pithy morning meeting timeshare sales tip of the week, originally published in InsideTheGate.com, to help you to greater success in selling timeshare. Brief and to the point, these sales training tips are designed to get you thinking, to expand your knowledge, to help you to become all that you can be in the timeshare sales arena.

Whether you’re an industry veteran or a green pea, it never hurts to brush up on your skills! Today’s tip:

Security:

REMEMBER: Too often during the sales presentation the topic of security is overlooked, but the fact of the matter is security is not only an important aspect for the sales guests’ consideration it is also a great selling tool as well.

Most resorts these days, worldwide, have a host of security systems including keyless doors, smoke and fire detectors, double and triple door locks inside the suites, video and grounds surveillance and/or video equipment, night-time and/or 24-hour security guards/patrol, 24-hour front desk personnel, etc.

Pointing out those features while on tour is very important, but keep in mind that during the presentation the prospect is hearing about travel adventures abroad and they should know that when they exchange to other destinations they and their families will experience the same sense of safety as well.

It is also very important to let each sales guest know that along with that peace of mind, TS resorts worldwide these days mostly have access to an ‘on-call’ relationship with a local doctor or medical facilities so that, God Forbid, if an emergency arises they’ll be in good hands.

Safety and security is important to all sales guests regardless of their age. By letting each sales prospect know that as a TS owner they are ‘covered’ while on their family vacations the savvy Pro will be laughing all the way to the bank.

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QUOTABLE QUOTES: “All gave some. Some gave all. Honor and support our veterans not just today, but every day! They need us!”




I could answer this question myself, but since the reader wants to hear from you all, well, why not? Educate him/her…

I was hoping that you could print this question for your readers response. I have been interested in working in the time share industry for several reasons. It seems like a good job, but when I research I find a lot of negative feedback. My impression is that it is a fun industry, good hours, the average rep makes about 50K, but there is potential to make well over 6 figs. I also assume that there is some frustration and challenge that goes along with the job (especially re-sell). I live in Vegas and would like to utilize my education and extensive sales experience in the time share industry. Any comments or feedback would be appreciated (earnings, issues, ect.)

First off, dear reader, it’s spelled “timeshare”, not “time share”. ;)

Have at it, everyone!

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“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

Interval International has announced a long-term master affiliation agreement with CLC Resort Developments Limited, one of Europe’s leading providers of mixed-use holiday products under the Club La Costa World (CLC World) brand. The contract encompasses CLC World’s vacation ownership business in Europe, Australia, and the United States, in top holiday destinations. It includes future properties that the company develops, acquires, or operates during the term of the agreement.

CLC World also selected Interval to handle reservation services for purchasers at its U.S.-based club, as well as offer a comprehensive package of other benefits and programs tailored to fit its members’ needs.

CLC World has a portfolio of 28 mixed use resorts worldwide, including the U.K., Spain, Tenerife, Austria, Turkey, Australia, and the U.S., as well as the Club La Costa Yacht Club, with further expansion plans imminent.

In addition, Interval International has also announced the addition of six Village Center resorts located in four regions of France: Normandy, Dordogne, Languedoc, and the Oriental Pyrenees. All are new, purpose built properties primarily concentrated in the southern part of the country that borders the northern Mediterranean coastline.

Village Center apartments, townhouses, and villas are designed to reflect the architecture of the local region and offer a range of family-friendly amenities. All have a kitchen, private garden or terrace, and Wi-Fi. The resorts have gained the distinguished clef verte label, the global Green Key eco-rating, in recognition of the developers’ efforts to reduce their carbon footprint.

cheerleaderInterval International: getting BIGGER!

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Do you have tips or rumors you'd like to share? Something you'd like us to investigate or follow up on? Help fill up the Tips Jar so we can share it with the whole Timeshare World! CONTACT: gatekeeper@insidethegate.com

Scoop understands the Reality and Scoop has a Cure. But what IS the Reality? And more importantly, what is the CURE?

So what’s the Scoop? To find out, read this week’s Timeshare Scoop du Jour: The Reality & The Cure

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Wyndham Worldwide Corporation has completed a term securitization transaction involving the issuance of $275 million of asset-backed notes. Sierra Timeshare 2012-3 Receivables Funding LLC issued $209 million of A rated notes and $66 million of BBB rated notes. The notes were backed by vacation ownership loans and had coupons of 1.87% and 2.66%, respectively, for an overall weighted average coupon of 2.06%. The advance rate for this transaction was 89%.

Sierra Timeshare 2012-3 Receivables Funding LLC is an indirect subsidiary of Wyndham Vacation Ownership. The transaction was completed in reliance upon Rule 144A and Regulation S as a placement of securities not registered under the Securities Act of 1933, as amended, or any state securities law. All of such securities having been sold, this announcement of their sale appears as a matter of record only.

That is all.

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“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

In memory of the legendary Terry Callier (May 24, 1945 – October 27, 2012), an American jazz, soul and folk guitarist and singer-songwriter from Chicago, who died of cancer on Oct. 27. His fine bluesy guitar work and especially his sweet tenor voice leaves a hole in the American music scene. He was 67.

This video is “Live with Me”, a song by Massive Attack which was included in their 2006 compilation album, Collected, and was also released as a single. Terry Callier, who was 60 at the time the song was recorded, supplied the haunting vocals.

R.I.P., Terry.


Send in your own playlist and if I can find a good version on YouTube I’ll post it for you! What would you like to hear?

Email: gatekeeper@insidethegate.com

I just want to say that I hope all of you affected by Hurricane Sandy are safe and sound, that you are not among the unfortunate souls who have lost their homes and possessions to the storm and that the resorts you work for have also survived intact so that your livelihood is not affected. God speed; my thoughts are with you.

Having said that, get out the popcorn, this one is kind of long. ;)

FLORIDA:

DAYTONA BEACH: In the good news category, Global Connections has recently completed the total renovation and installation of furnishings for the top two floors of the lovely Sea Shells Beach Club, located directly on Daytona Beach. The 37-unit boutique oceanfront resort is owned and managed by GCI. In total, the resort features one, two, and three-bedroom units as well as studios.

Renovation included total new furnishings, carpeting, fixtures, lighting, and accessories as well as new granite countertops and tile flooring in all kitchens, flat-screen TVs in living rooms and bedrooms for 14 one- and two-bedroom oceanfront and ocean view units. Additionally, the front lobby and reception area were refreshed with all new furnishings. The beachfront Honeymoon Suite got a makeover, too.

The interiors feature a South Beachy vibe, with “cool, breezy turquoise and cream hues and rich warm colors in the tile and wood furnishings.”

From the pictures I’ve seen, it looks GOOD!


NEW SMYRNA BEACH: Remember Harold Blue? A warrant was issued for his arrest early last month by the Florida Department of Law Enforcement Daytona Beach Field Office, who wanted to arrest him on felony charges of organized scheme to defraud. According to the FDLE, Blue allegedly defrauded multiple victims through a timeshare resale scheme.

Well, the long arm of the law finally caught up with Blue on Oct. 26. He was arrested without incident in New Smyrna Beach and now faces charges of organized scheme to defraud, violation of probation reference possession of cocaine and driving with a suspended or revoked license.

Blue allegedly targeted timeshare owners while employed by his previous employer, Marketing Direct Timeshare Services, LLC (timesharehelpinghand.com), in Ormond Beach, Fla. and then through his own company, Blue Chip Marketing.

Have you noticed over the last couple of years how strongly Florida has gone after timeshare resale fraudsters? You’d think by now that all but the stupidest among them would be long gone, wouldn’t you?

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NEW HAMPSHIRE:

DOVER: I wonder if Sell My Timeshare NOW is experiencing any fallout from the scandalous ripoffs being perpetrated by an Atlanta, GA-based sound-alike company named Sell A Timeshare NOW?

The sound-alike company has complaints all over the Internet and even managed to make it into a police report in Flourtown, PA:

A Flourtown resident reported Oct. 19 he had been working with Sell a Timeshare Now LLC to sell his timeshare in Myrtle Beach, S.C., and had deposited a $3,748.50 check into the company’s account Sept. 21 to cover closing costs, police said. The man said he has not been able to reach anyone at the company since the check cleared, police said.

Sell A Timeshare NOW claims to be “nationally accredited by the Chamber of Commerce, Dun and Bradstreet, as well as we are a fully licensed marketing firm in the State of Georgia with zero complaints.” Okey dokey. If they say so.

They are not accredited with the local BBB (nothing necessarily wrong with that), but nevertheless have managed to get an “F” rating.

It seems that a pretty good case could be made that the company may have purposely chosen its name to confuse potential clients and/or to feed off Sell My Timeshare NOW’s reputation and mighty presence in the resale world. At any rate, Jason Tremblay is a pretty akamai guy; I’ll bet he’s on top of it.

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NEW JERSEY:

EGG HARBOR TOWNSHIP: Last week I mentioned the upcoming trial of Adam and Ashley LaCerda, co-owners of VO Financial Corp., on various fraud charges related to their previous company VO Group. Since that post I’ve come across some interesting stuff about VO Financial that kind of makes me tip my hat to them for their ingenuity even as it raises my eyebrows.

I’m thinking VO Financial has a heck of an SEO team (that means “Search Engine Optimization”, for the uninitiated among you) dealing with reputation management.

First off, the company issues a fairly continuous stream of press releases so that when you google the name you are met primarily with their own websites and paeons of praise for their alleged fight against timeshare fraud and corruption, along with the wonderful services they offer consumers.

If you google “vo financial complaints”, you’ll discover that they have registered that phrase as a domain name and built a website for it which, you guessed it, points out their fight against timeshare fraud and corruption along with the wonderful services they offer.

And if you do click on a link to what you would expect to be actual complaints against the company in RipoffReport you’ll find the most amazing thing: They have bought off Ripoff Report.

OK, maybe that’s a little harsh. It’s all legit and everything. As it turns out, if you can convince Ripoff Report that your company is clean and good and committed to doing the right thing for your customers and you “Agree to and abide by Ripoff Report’s Customer Satisfaction Code of Conduct”, you can pay to become a member of their Corporate Advocacy Program and all you’ll ever see about your company is positive stuff.

As Ripoff Report puts it, “The Corporate Advocacy Program is a PR/Advertising/Customer Retention & Remediation Service all in one. As a member, you’ll not only enjoy a better image, you’ll also develop superior relationships with customers and build the best possible customer satisfaction program, proven to be a major factor contributing to long-term success.”

Fees for enrolling in the program are based upon the number of Reports filed and in some cases, the number of physical locations a company has. Additionally, there is a flat set-up fee to offset the costs associated with programming and contract legalities.
Ripoff Report Verified Business
VO Financial convinced Ripoff Report of its righteousness, paid its fees and is now a Verified Safe Business™. They, and other companies that are approved, get to use Ripoff Report’s Verified Safe Business logo (see the logo at left) and everything.

Per Ripoff Report: “VO Financial Corporation’s co-owners, Adam and Ashley Lacerda, have informed us that their mission is to educate and empower today’s timeshare owners by delivering quality, trustworthy customer care and service before, during, and after their services are completed.”

On the plus side, some unhappy customers get their issues resolved through that program and that’s a GOOD thing. On the negative side, well, you can figure out the cascade of implications all by your lonesome, right?

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SOUTH CAROLINA:

CONWAY: Sometimes it’s best to keep your big mouth shut so as to not draw unwanted attention to yourself, ya know?

I refer to a lawsuit filed in 2007 against a subsidiary of Central Florida Investments (Parker et al vs CFI Sales & Marketing, Ltd.) in which about 300 sales reps working for Westgate Resorts sued the company in South Carolina for unpaid reserve funds.

In January 2010 a settlement was reached between the parties in which CFI agreed to pay $650,000 in past-due commissions to the workers within 180 days. Payments of $25,000 were made in February and March, but CFI missed a July 14, 2010 deadline to pay the balance. The sales reps went back to court and in August, 2010 a Horry County, SC judge gave them the right to go after Westgate Resorts founder David Siegel, other company executives and related corporations in an attempt to collect the past-due pay.

Among other excuses posited by attorneys for the company’s failure to pay: CFI didn’t have the money. Well, it was 2010 and CFI/Westgate was in a world of financial hurt so that may have been true. (As an aside, that same August the U.S. Department of Labor recovered $868,443 in back wages for 1,065 employees of CFI when it was determined that Westgate OPCs were not paid at least the federal minimum wage for all the hours they worked, among other infringements of the law. August 2010 was not a good month for CFI/Westgate…)

And get this: Richard Epstein, a CFI attorney, said that the company never actually promised to pay the money. He said “All CFI has promised to do is to allow a judgment to be entered against them. There has never been a promise to pay. We have a final judgment. This case is over.”

The case subsequently languished in court with little action.

Fast forward to now. If you’ve been paying attention you know that David Siegel has been bragging about how his personal finances are great (he has enough to retire to a Caribbean island and live out his life in comfort, provide for his children, resume work on his unfinished mansion, etc.) and his company is more profitable than ever.

Gene Connell, a Surfside Beach lawyer who represents the aforementioned workers, took note of Siegel’s boasts and filed papers in court last month asking Judge Michael Baxley to force Siegel to appear in a South Carolina court and answer questions about his company’s finances and the settlement agreement. Connell said Siegel’s recent public statements indicate he has plenty of money to pay the settlement.

CFI lawyer John Wilkerson III disagrees, saying in court documents, “Whether David Siegel, against whom no judgment has been entered in this case, has the ability to pay the amount of the judgment is legally irrelevant. No court – whether this one or any other – has ever found Mr. Siegel to be liable for this debt.”

Wilkerson said that Siegel’s money is irrelevant because CFI is the company that hired workers to sell the Myrtle Beach resort. “[CFI] has not paid the judgment for the simplest and most understandable of reasons: It does not have the money to do so.”

Connell, on the other hand, holds that Westgate should be “held in contempt for its failure to pay a judgment owed to its employees for back wages.” The judge has taken that issue under advisement.

Meanwhile, a trial to determine whether Siegel can be held personally liable for the debt is tentatively scheduled for early February at the Horry County Government and Justice Center in Conway.

Back in August 2010 one of the sales reps involved in the suit had this to say: “I did what they asked me to do, and they owe me $80,000, and I want it.”

Stay tuned…

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“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

HAWAII:

MAUI: Remember last week when I told you about the Ritz-Carlton Club & Residences at Kapalua Bay being put on the auction block, and that Ritz-Carlton was pulling its name and management contract from the project?

Well, scratch that last part.

According to The Maui News, Ritz-Carlton seems to want to keep its brand on the property and has pushed back the date for leaving to Dec. 31. They’re apparently in negotiations with everyone else involved to see if it can all be worked out.

That’s what Ed Kinney, vice president of public relations for The Ritz-Carlton Destination Club, said in an email to The Maui News anyway.

Stay tuned…

OAHU: Hilton Grand Vacations has been on the move in recent months, getting BIGGER at quite a pace. In Waikiki they have begun renovations and sales at the former Ohana Islander Waikiki at Kalakaua Blvd. and Lewers St. The resort has been renamed Hokulani Waikiki. Outrigger sold the resort, which had been closed since 2008, to HGV in 2011.

Hono­lulu-based Group 70 International has been picked to design the 14-story resort’s new look, while Los Angeles-based studio Indidesign will oversee the interior design. Outrigger will manage the property when the refurbishment is finished, which is expected in late 2013.

This will be HGV’s 7th resort in Hawaii. Yowza!

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UTAH:

PARK CITY: Meanwhile, Hilton Grand Vacations has also agreed to provide sales, marketing and property management services for a resort, to be called Sunrise Lodge, in Park City. The deal is effective immediately.

The resort, which was recently purchased by Resort Finance America, has already been converted to a timeshare resort. Lantern Asset Management will continue to provide asset management services for the property. Both Resort Finance and Lantern are wholly owned by Centerbridge Capital Partners, L.P.

HGVC will begin sales and marketing services early this month, and will welcome their first guests just as the ski season begins. All future deeded real estate interests in the 83-unit ski-in/ski-out property will include membership in Hilton Grand Vacations Club.

Go ahead and pack your bags. This resort is ready for you.

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“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

Join us for a pithy morning meeting timeshare sales tip of the week, originally published in InsideTheGate.com, to help you to greater success in selling timeshare. Brief and to the point, these sales training tips are designed to get you thinking, to expand your knowledge, to help you to become all that you can be in the timeshare sales arena.

Whether you’re an industry veteran or a green pea, it never hurts to brush up on your skills! Today’s tip:

Today Only:

REMEMBER: ‘Special Offers’, or those ‘this week 1/2 off’ ads, the ‘buy one get one free’, ‘kids stay (or eat) free’ and all other such limited time specials, etc. are so pervasive as used by mainstream corporate America (for good reason) that consumers are always looking for, and are preconditioned to take advantage of, any savings (discounts) they can!

Although ‘price’ discounts (aka: drops) in our industry are reserved for the ‘back-end’ it is never a bad idea to bring up the subject during the presentation, suggesting at the appropriate time that sometimes the developer has some incredible specials!

The importance of planting that seed is that as the sales guest’s interest increases they’ll likely ask the front end rep about those ‘specials’ (which is a great question to write down for the closer). Or they’ll ask on the back end, before the ‘closer’ offers an alternative plan, price, etc. When these prospects ask that question and it is handled properly, the savvy TS Pro will be laughing all the way to the bank.

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Copyright InsideTheGate.com All rights reserved

QUOTABLE QUOTES: “Earth laughs in flowers.” – Ralph Waldo Emerson




Millions of our fellow Americans across several states are suffering and need your help now, due to the Frankenstorm called Hurricane Sandy. The area hit was roughly the size of Europe! You can make a difference and I have faith that you will.

To help out, please:

Thanks, everyone. I knew I could count on you!

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“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

Interval International has added Amarras Sea Village in Argentina to its worldwide network. Situated in the southeast province of Buenos Aires, the property is near Mar del Plata, which is known as the “Pearl of the Atlantic,” and is one of the country’s premier seaside resort towns.

A retreat with a country-style décor, the resort features spacious two-bedroom units with fully equipped kitchens. On-site amenities include indoor and outdoor swimming pools, game room, solarium, children’s playground and barbecue areas. Outdoor enthusiasts can tee off at one of several golf courses in the area or go windsurfing, jet skiing, sailing, fishing, and horseback riding.


Hilton Grand Vacations has begun renovations and sales at the former Ohana Islander Waikiki in Oahu, Hawaii, which has been renamed Hokulani Waikiki. The resort is tentatively scheduled to open in late 2013.

HGV has also inked a deal to provide sales, marketing and property management services for a resort in Park City, Utah which will be known as Sunrise Lodge. The deal is effective immediately.

The resort, owned by Resort Finance America, will begin sales and marketing services early this month, and will welcome their first guests just as the ski season begins.

cheerleaderInterval International and Hilton Grand Vacations: getting BIGGER!

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Do you have tips or rumors you'd like to share? Something you'd like us to investigate or follow up on? Help fill up the Tips Jar so we can share it with the whole Timeshare World! CONTACT: gatekeeper@insidethegate.com

Is there any truth to the rumor– that Bluegreen has been terminated as the management entity at the Pono Kai Resort on Kauai, HI? Word on the street is that when their contract came to an end the HOA Board decided not to renew, instead choosing a different management company to take over.

Word on the street has not yet indicated who the new company is, though, or specifically why that decision was made. Does anyone know?

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“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

Scoop learned from a comment in last week’s Western USA Timeshare News that the 2013 Ragatz Resort Real Estate & Fractional Conference that was to be held March 18-19 at the Sheraton San Diego Hotel & Marina has been cancelled, due to a “lack of sponsors”. It blew Scoop’s mind. I mean, we’re talking about “The longest running, most recognized and informative global gathering in the resort real estate and fractional interest industry” here. Dr. Richard Ragatz, the main man! How could it be???

So what’s the Scoop? To find out, read this week’s Timeshare Scoop du Jour: 2013 Ragatz Conference Canceled!

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Starwood Hotels & Resorts Worldwide, Inc. has reported its third quarter 2012 financial results. Of particular interest to us:

  • Earnings from Starwood’s vacation ownership and residential business increased approximately $19 million compared to 2011, including $12 million of earnings from the St. Regis Bal Harbour residential project.
  • Total vacation ownership revenues increased 2.2% to $141 million in the third quarter of 2012 when compared to 2011, primarily due to the increased revenues from resort operations.
  • Originated contract sales of vacation ownership intervals and numbers of contracts signed decreased 1.2% and 3.8%, respectively, primarily due to lower tour flow partially offset by a slight increase in the average price of vacation ownership units sold.
  • The average price per vacation ownership unit sold increased 1.8% to approximately $14,300, driven by inventory mix.
  • Earnings from the Company’s vacation ownership and residential business are down approximately $5 million year over year.
  • On October 24, 2012, the Company completed a securitization involving the issuance of $165.7 million of fixed rate notes. Starwood is contributing approximately $174.4 million in timeshare mortgages resulting in an advance rate of 95% with an effective note yield of 2.02%. The proceeds from the transaction will be used for general corporate purposes and the pay down of the securitized vacation ownership debt related to its 2005 securitization.
  • Outlook for the full year 2012: Earnings from the Company’s vacation ownership and residential business of approximately $158 million.

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Wyndham Worldwide Corporation has also announced results for the three months ended September 30, 2012. Third quarter revenues were $1.3 billion, an increase of 4% from the prior year period. The increase reflected growth in the Lodging and Vacation Ownership businesses, partially offset by unfavorable currency effects in the Vacation Exchange and Rentals business.

Highlights for Wyndham Vacation Ownership:

  • Revenues were $608 million in the third quarter of 2012, a 9% increase over the third quarter of 2011, primarily reflecting increased vacation ownership interest (VOI) sales.
  • Gross VOI sales were $502 million in the third quarter of 2012, up 10% from the third quarter of 2011, primarily reflecting a 5% increase in both volume per guest and tour flow.
  • Adjusted EBITDA for the third quarter of 2012 was $155 million, a 4% increase compared with the third quarter of 2011. The increase primarily reflects the revenue increases, partially offset by higher sales and marketing expenses related to the increase in VOI sales and higher intersegment licensing fees for use of the Wyndham brand trade name.

BALANCE SHEET INFORMATION AS OF SEPTEMBER 30, 2012:

  • Vacation ownership contract receivables, net, of $2.9 billion, compared with $2.8 billion at December 31, 2011
  • Vacation ownership and other inventory of approximately $1.1 billion, unchanged from December 31, 2011
  • Securitized vacation ownership debt of $1.9 billion, unchanged from December 31, 2011

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“If you haven’t got anything nice to say about anybody, come sit next to me.” -Alice Roosevelt Longworth

Do you have tips or rumors you’d like to share (ANONYMOUSLY)? Something you’d like us to investigate or follow up on? CONTACT: gatekeeper@insidethegate.com

Sometimes politics is all just so ridiculous, right? And sometimes that can best be pointed out by comedians, as The Daily Show’s Jon Stewart is famous for doing. So take a trip with me now to Bulls@%t Mountain: Obama – The Phantom Menace.

TRICK OR TREAT! (Smell my feet, give me something good to eat! If you don’t, I don’t care. I’ll pull down your underwear!) :P


Send in your own playlist and if I can find a good version on YouTube I’ll post it for you! What would you like to hear?

Email: gatekeeper@insidethegate.com