Interval International Joins With ibahn To Provide High-Speed Internet Access To Its Member Resorts
November 29, 2007 | Leave a Comment
New Partnership Offers Preferential Pricing and Customized Service
Interval International, a leading provider of vacation services and an operating business of IAC (Nasdaq:IACI), and iBAHN, the global leading provider of secure broadband solutions to the hospitality industry, have partnered to offer special pricing on high-speed Internet access (HSIA) services to Interval’s member resorts in the United States. This is the newest benefit in Interval’s Affiliate Advantage program, which has been designed exclusively for its clients to maximize their marketing and operational efficiencies.
“We look forward to offering our member resorts preferential pricing on high-speed Internet access through such a well-respected supplier. iBAHN understands the need for Internet connectivity, along with high service standards expected in the hospitality industry,” said Jan Wyatt, vice president of corporate marketing for Interval International.
As part of the new program, iBAHN will provide wired and wireless HSIA, along with its Resort PC — an Internet-enabled freestanding computer — to resorts at discounted prices. iBAHN’s services are available for guest rooms, conference centers, lobbies, and other public areas within resorts. Owners and guests will receive reliable high-speed connections with enterprise-grade security and flexible bandwidth options for all levels of Internet use.
“In today’s fast-paced world, leisure travelers like to stay connected and they want to be able to do so instantly,” said Joe Rook, vice president of sales for iBAHN. “We are pleased to work with Interval International to equip its member resorts with the tools to provide a user-friendly and secure interactive experience for all of their guests.”
About Interval International
Interval International is a leading provider of exchange, travel, and leisure services to resort developers and vacationers worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 30 years. Today, Interval has a network of more than 2,200 resorts in 79 countries and offers its clients and nearly 2 million member families high-quality products and programs through its 28 offices in 17 countries. Interval is part of IAC, which owns and operates more than 60 diversified brands in sectors being transformed by the Internet, online and offline. Other IAC companies include Ask.com, HSN, LendingTree, Match.com, and Ticketmaster.
About iBAHN
iBAHN provides secure, reliable broadband services for travelers and groups at hotels and conference centers worldwide. More than one million business travelers around the world use iBAHN’s secure broadband services each month. iBAHN provides services to over 2,100 hotels and meeting and conference sites in 24 countries around the globe. For more information, visit www.ibahn.com.
Internationally recognized timeshare veteran joins leading hospitality company
November 28, 2007 | Leave a Comment
Diamond Resorts International® (DRI) has announced the recent appointment of vacation ownership veteran Simon Crawford-Welch, Ph.D., RRP, to the position of president and chief operating officer responsible for global operations.
Crawford-Welch has held several executive positions in international sales, marketing and operations in all aspects of the leisure industry and has over 20 years of experience in the vacation ownership industry. He holds a doctorate degree with an emphasis in hospitality marketing and strategic management and is the author of dozens of articles and a textbook on the subjects of marketing and strategic management. Read more
The Family Of Orange Lake Resorts Announces Completion Of Nearly $3-Million Renovation Program At Orange Lake Panama City
November 27, 2007 | Leave a Comment
The Family of Orange Lake Resorts, based in Orlando, Fla., announces the completion of a nearly $3-million renovation program at its Orange Lake Panama City resort, located in Northwest Florida on St. Andrew’s Bay, just minutes from beautiful Panama City Beach.
The all-new luxury retreat in Panama City features redesigned two-bedroom villas with Southern style décor and tropical accents. Interiors include new carved wood furniture along with warm, welcoming fabrics. The resort is located in the Florida Panhandle, offering 27 miles of pristine beaches, world-class fishing and luxury boating.
“We are proud to offer this new getaway for our owners,” said Don Harrill, President and CEO for The Family of Orange Lake Resorts. “Orange Lake Panama City’s newly revitalized accommodations provide our owners with all the comforts of home they’ve come to expect, with a brand new resort experience every member of the family will enjoy.”
Orange Lake owners and guests enjoy numerous amenity and service privileges at the Bay Point Resort including three outdoor swimming pools, one indoor pool, two 18-hole golf courses, the Serenity Spa, a 200-slip deep-water marina, and four unique restaurants and bars, including the 30 Degree Blue fine dining restaurant.
The Family of Orange Lake Resorts has evolved from a best-kept secret as the world’s largest single-site timeshare resort to a multi-site resort with a growing network. New resort additions in Wisconsin, Vermont and Florida were carefully selected and tailored for their owners, resulting in the creation of a brand new member exchange program, GlobalAccess™, to facilitate reservations within the resort network. Orange Lake’s flagship location in Orlando was established in 1982 by Holiday Inn® Founder, Kemmons Wilson. The company plans to continue the expansion of their resort network and is actively seeking more growth opportunities to continue being the “home-away-from-home” to more than 110,000 owners from all 50 U.S. states and more than 120 countries.
Timeshare Industry Plays Around For Variety Kids
November 27, 2007 | Leave a Comment
Variety Queensland’s CEO Linda Graham today announced that the Australian Timeshare and Holiday Ownership Council (ATHOC), has provided the much needed funds of $12,000 to refurbish a state of the art “Snoezelen Room” at Mudgeeraba State Special School on Queensland’s Gold Coast.
The official launch of the long awaited refurbished Snoezelen Room will be made during a full school assembly at Mudgeeraba State Special School from 9.15am on Monday 3 December.
Laura Younger, General Manager for ATHOC confirmed the funds have been provided from major fundraising activities by Timeshare Industry member companies (such as Accor Premiere Vacation Club, Wyndham Vacation Resorts, RCI, Classic Holidays) at an annual Charity golf day in June.
Laura said, “The intention of the Snoezelen Room is to provide a stimulating and safe environment for students with sensory deficits and intellectual impairment. Students use the Snoezelen Room to explore and interact with light, sound, texture, smells, movements and tasters for the purpose of leisure, relaxation and enhancement of senses. The Room features bubble tubes, acrylic mirrors and a musical floor. ATHOC is pleased to provide this amazing technology and hopefully it will be enjoyed by special needs children in years to come. Last year’s ATHOC Golf Day funds paid for a special Variety Liberty Swing that is situated in playground at the Cascade Gardens at Broadbeach”, she added.
As the students who attend Mudgeeraba Special School are diagnosed with an intellectual impairment and may be diagnosed with vision, physical or hearing impairment, many students aged 5 to 18 years exhibit deficits in processing information related to their senses. The Snoezelen Room enables teachers to support students who require additional sensory experiences and implement individualized programs to enhance and optimise learning outcomes.
Principal of Mudgeeraba Special School, Ms Colleen Hope and Head of Curriculum Ms Nicky Belous wrote to Variety Queensland seeking financial assistance for equipment required for the Snoezelen Room and was delighted to receive a surprise phone call to advise that ATHOC, a corporate sponsor of Variety, would fully fund the room as a community project.
Colleen said, “Children will enjoy hours of fun discovering and exploring materials and the sounds of our tremendous Snoezelen Room and get pleasure from social interaction amongst their peers. We are absolutely thrilled to know ATHOC raised so much money at their golf day to fund our special Room and we sincerely thank every single person involved in making this happen”.
Interval International donates sporty Thanksgiving baskets to South Miami families
November 22, 2007 | Leave a Comment
On 20th November, Interval International hosted its Eleventh Annual Thanksgiving Basket Food Drive and Decorating Contest benefiting residents of the City of South Miami. The Interval Resort Financial Services department won first place for its rendition of this year’s theme - The Sports Turkey – with its “1960 Summer Olympics Boxing” entry. The guest judges included Randy Shannon, Head Football Coach of the University of Miami Hurricanes; Mayor Horace Feliu, City of South Miami; and Major Bobby Richardson, City of South Miami Police Department. More than 50 baskets filled with a complete holiday meal were donated by employees of the Miami-based global vacation exchange company and distributed to families in the community immediately following the contest.
2008 Ragatz Associates Hosts Eighth Annual Fractional Interest Conference to be held March 18-20 in San Francisco
November 21, 2007 | Leave a Comment
Resort Real Estate Event Will Report on Industry’s Latest News, Research and Trends
Registration is now open for the 2008 Ragatz Associates Eighth Annual Fractional Interest Conference to be held March 18-20 at The Fairmont San Francisco. The annual conference is an ideal forum to gain first-hand knowledge about influences affecting the fractional industry. Resort real estate industry veteran Dick Ragatz and other experts will report on the latest trends, news and research findings about the state of fractional real estate, including private residence clubs and destination clubs. Read more
The Timeshare Blog Takes The Top Spot On Yahoo For Search Term “timeshare news”
November 21, 2007 | Leave a Comment
The Timeshare Blog (http://www.thetimeshareblog.com), a daily timeshare news site published by Perspective Magazine (http://www.timeshareperspective.com) has achieved rapid growth since its rebranding a few months ago and now delivers a daily news update by email to more than 3,000 industry professionals. Read more
RedWeek.com Co-founders Announce a Timeshare Challenge for Donations to Christel House International
November 19, 2007 | Leave a Comment
break the cycle of poverty to become self-sufficient, contributing
members of their societies.
“My wife and I hope to encourage members of our industry to
personally join with us in supporting underprivileged children through
Christel House,” says Randy Conrads, CEO of RedWeek.com. “Christel
DeHaan has created a legacy not only in her founding of RCI, but in
this amazingly effective mission to break the cycle of poverty through
children’s education. There are many donors to Christel House already,
but our focus is on drawing in new donors and encouraging current
donors to increase their annual gifts. RedWeek.com chose Christel
House for special charitable emphasis adding a donor page to our Web
site to inform our one million users of the good work it does for
these kids and the societies in which they live.” Read more
Back To The Caribbean And Festiva Resorts Announce Preferred Partnership
November 18, 2007 | Leave a Comment
Back to the Caribbean is proud to announce a partnership with Festiva Resorts, an innovative and active vacation ownership company that is currently one of the largest privately held companies of its type in the country.
Founded in 2000 by Don Clayton and Butch Patrick, Festiva Resorts currently has over 55,000 members and boasts a portfolio of 24 resorts and 14 catamaran yachts. Its corporate headquarters is located at the historic Zealandia property in Asheville, N.C.
Festiva Resorts currently manages and operates a dynamic collection of boutique resorts in some of the most sought-after destinations worldwide. Some of its premier properties are in locations including the beautiful coast of the Carolinas, the entertainment capitol of Branson, Missouri, and the ultimate Caribbean getaways of the Bahamas and St. Maarten.
Founded in 2003 by Ross Fischer and James Reed, Back to the Caribbean is a leading provider of discount travel packages throughout the United States. “We at Back to the Caribbean are constantly looking at how we can offer our travelers the best quality vacations for the price, and our partnership with Festiva is going to allow us to offer some of the best travel values ever seen,” says Jackeline Fischer, President of Back to the Caribbean.
Everyone at both Back to the Caribbean and Festiva Resorts is thrilled about this partnership as it will provide current Back to the Caribbean customers with better options and greater flexibility, and it will also give Festiva Resorts greater exposure and visibility through the superior marketing services of Back to the Caribbean.
For more information visit www.festivaresorts.com or www.backtofun.com.
Wyndham Worldwide Becomes Official Hospitality Partner Of Cirque Du Soleil®
November 18, 2007 | Leave a Comment
Wyndham Worldwide (NYSE:WYN) today announced that it will be the official hospitality partner for Cirque du Soleil touring shows Saltimbanco™, KOOZA™ and Corteo™ for the next two years, providing the company with the opportunity to market to more than three million Cirque du Soleil spectators.
At the core of the partnership will be the Wyndham Hotels and Resorts presence at Cirque du Soleil events through displays, advertising, signs and verbal acknowledgement at the opening of each show as well as an opportunity to work with Cirque du Soleil for advertising and promotional development.
“Aligning Wyndham Hotels and Resorts with Cirque du Soleil is a natural fit,” said Peter Strebel, president of Wyndham Hotels and Resorts. “Both companies are known for innovation, flexibility and a dazzling guest experience. The partnership enables us to build upon our relationship with the frequently traveling Generation X customer.”
In addition, tickets to the shows will be an entertainment option for members of The Registry Collection®, the world’s largest luxury leisure real estate exchange program, offered by Group RCI. Further, RCI Points® subscribing members are also being offered tickets as a new RCI Points Partner exchange option.
“Our members of The Registry Collection expect nothing less than the very best,” said Gordon Gurnik, executive vice president, business development & inventory operations, Group RCI. “That’s why we are extremely pleased that through our alliance with Cirque du Soleil, we’re able to offer exclusive experiences not available to the general public to KOOZA and Corteo, two truly world-class entertainment shows.”
“Cirque du Soleil is thrilled to be working with Wyndham Worldwide and we are proud to have them on board as our new official sponsor of touring shows in North America,” Ryan Sandilands, Cirque du Soleil Corporate Alliances Director said.
Each show takes its audience on a fun-filled, acrobatic journey. Saltimbanco is an intense, colorful experience of hope, joy and acrobatic thrills. KOOZA is a return to the origins of Cirque du Soleil, combining traditional circus arts including acrobatics and the art of clowning to highlight the physical demands of human performance. Corteo offers an intimate look into a clown’s imagined funeral procession that takes place in a carnival like atmosphere and entertains the audience through fun, comedy and spontaneity.
As one of the world’s largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses almost 6,500 franchised hotels and almost 542,000 hotel rooms worldwide. Group RCI, offers its more than 3.4 million members access to over 60,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of approximately 140 vacation ownership resorts serving over 800,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs more than 30,000 employees globally.
For more information about Wyndham Worldwide, please visit the company’s web site at www.wyndhamworldwide.com.
From a group of 20 street performers at its beginnings in 1984, Cirque du Soleil is now a major Quebec-based organization providing high-quality artistic entertainment. The company has over 3,800 employees from over 40 different countries, including 1,000 artists.
Cirque du Soleil has brought wonder and delight to more than 70 million spectators in over 100 cities on five continents. In 2007, Cirque du Soleil will present 15 shows simultaneously throughout the world. The company has received such prestigious awards as the Emmy, Drama Desk, Bambi, ACE, Gémeaux, Félix, and Rose d’Or de Montreux. Cirque du Soleil International Headquarters are in Montreal, Canada. For more information, visit www.cirquedusoleil.com
Interval International Hosts Florida Universities’ Hospitality Program Students
November 18, 2007 | Leave a Comment
Interval International, a leading provider of vacation services and an operating business of IAC (Nasdaq: IACI), continued its commitment to education by hosting hospitality and tourism management students from Florida universities at the Ninth Annual Vacation Ownership Investment Conference held last month at The Peabody Orlando. During the conference, undergraduates from Florida International University, Lynn University, and the University of Central Florida had the opportunity to attend panel discussions led by experts from the best-known companies in hospitality and vacation ownership development.
In addition, Interval sponsored its second annual Hospitality Student Forum during which Mary Murphy, Interval’s Northeast region manager, resort sales and service, gave a presentation about Interval’s role in the vacation ownership industry. She also spoke about the exciting future and many exciting career opportunities for students who join the industry.
Interval supports hospitality education in a number of ways, including offering both financial and personnel resources to ensure that students are educated about the vacation ownership industry. Each fall and spring semester, members of Interval’s management team give a lecture and tour of the Miami-based Member-Services Center as part of the course work. Interval also facilitates a stay in vacation ownership units located in Orlando and participation in tours of area resorts.
Bonaire Recognizes Industry Partners With Golden Flamingo Awards
November 18, 2007 | Leave a Comment
Honoring select industry partners that have contributed positively to Bonaire on November 1, 2007 Bonaire presented its Second Annual Golden Flamingo Awards.
The recipients of the Golden Flamingo Awards 2007 were:
Airline of the Year - American Eagle
Media Partner of the Year - DiveNewswire
Tour Operator of the Year - PADI Travel Network
Person of the Year - Timothy Webb
The special awards presentation ceremony took place on November 1, 2007 during DEMA Show 2007 in Orlando, Florida at a special Golden Flamingo Awards Ceremony. Evette Negron and Tracey Hoo from American Eagle, Christine Grange from PADI Travel Network, and Scott Jones from DiveNewswire as well as “Person of the Year” Tim Webb were on hand to personally receive the Awards. The 2007 recipients were determined by a vote of the public and private sector tourism stakeholders.
“We introduced the Golden Flamingo Awards last year as a way to say ‘thank you’ to select industry partners that have demonstrated their commitment to Bonaire and we’re pleased to honor another group of deserving partners again this year,” said Ronella Croes, Director of Tourism Corporation Bonaire (TCB). “We look forward to continuing to work together with each of these partners, and all of our other partners, in the years to come.”
“I’m pleased that I could personally be here in Orlando to honor this year’s recipients of the Golden Flamingo Awards,” said Burney el Hage, Commissioner of Tourism for Bonaire. “In today’s world of instant gratification and bottom line decision making, it means a great deal to us that all of these partners have supported Bonaire’s tourism for many years and have had a hand in making Bonaire what it is today.”
Located eighty-six miles east of Aruba, the Dutch Caribbean island of Bonaire offers year-round sunshine, low annual rainfall, pristine coral formations and the most thriving fish population in the Caribbean. Ideal for adventurers, explorers and sun-worshippers alike, Bonaire offers myriad eco-adventure activities including world renowned scuba diving and snorkeling, windsurfing, kiteboarding, landsailing, mountain biking, sea and mangrove kayaking, horseback riding, nature tours, hiking, bird watching, sailing and deep sea and bone fishing. And with a selection of accommodations ranging from full-service oceanfront resorts and condominiums to guesthouses and small inns, Bonaire has something for every lifestyle and budget.
For more information on Bonaire, contact the Tourism Corporation Bonaire in the U.S. at 1-800-BONAIRE.
Tamarak Resort Sell Out Initial Offering Of Lake Wing Condominium Residences
November 18, 2007 | Leave a Comment
Sale of 17 residences overlooking Osprey Meadows Golf Course nets $16.5 million
In spite of the softening of the national real estate market, property at Tamarack Resort continues to be desired in the destination resort industry— as evidenced by the weekend sellout of the first condominium residences offered in the Lodge at Osprey Meadows Lake Wing.
In four hours, Tamarack celebrated it’s eighth sell-out when buyers snatched up the original 12 Lake Wing residences available, plus an additional five released due to such high demand. The 17 residences sold at the release raised $16.5 million for the ongoing development of the nation’s newest ski, golf and lake resort.
“In a slower real estate market, this sale truly speaks to the unique investment and lifestyle opportunity here at Tamarack. We sold more than we had anticipated in our first release of property in the Lodge at Osprey Meadows Lake Wing,” said Jean-Pierre Boespflug, Tamarack Resort CEO.
The Lake Wing occupies an elegant perch at the entrance to the award-winning Osprey Meadows Golf Course – named the “Best New Public Course $75 and over” for 2006 by Golf Digest – and is framed by the Lodge at Osprey Meadows Main Wing and the under-construction Village Plaza.
In addition to the amenities of the nearby Lodge at Osprey Meadows Main Wing – Morels Gourmet Dining and Lounge, Santé Spa, concierge services, fitness facility with pools, and the Golf and Nordic Shop – Lake Wing residents also will have their own indoor/outdoor yoga studio, game room, resident lounge, and heated, underground residential and golf-cart parking.
It is truly luxury with a conscience, as the Lake Wing is being built to comply with the LEED® Green Building Rating System, the nationally accepted benchmark for the design, construction and operation of high performance green buildings. Currently under construction, the Lake Wing is scheduled to open in early 2009.
The residences sold ranged in size from studios to penthouses and in price from $495,000 to $3.1 million.
Orange Lake Orlando Unveils First Phase Of Flagship Resort Revitalization
November 18, 2007 | Leave a Comment
The Family of Orange Lake Resorts is proud to announce the completion of the first phase of a three-phase, multi-million-dollar revitalization of the resort’s premier village.
In this phase, existing pro shop and restaurant space is being converted into a new multi-use pro shop, retail and express dining facility called The Marketplace. The renovated space includes The Reserve & Crane’s Bend Pro Shop for two of Orange Lake’s championship and executive courses. The Marketplace also houses The General Store, a full-service grocery and convenience one-stop-shop, and Paisan Pizzeria, offering Italian meals for take out, delivery or outdoor dining.
“We are proud of this resort’s history and success,” said Don Harrill, President and CEO for The Family of Orange Lake Resorts. “We pay tribute to that with architecture and design representing classic Florida charm and an unsurpassed offering of new activities, services and facilities for our owners to enjoy and experience with their families.”
In Phase II, the West Village Clubhouse will be redesigned with a Grand Entrance and lobby, featuring a front drive with four lanes under an enlarged porte-cochere. Parking for the entire complex will feature three entrances and parking areas. Beach and pool areas will be enhanced for year-round use, and owners and guests will find an array of new, convenient facilities, like a family fun center, fitness center and kids’ club. Orange Lake’s points-based member exchange program, GlobalAccess™ will have an office on the lobby level.
The revitalization program will be complete in Phase III, by summer 2008, with the new Water’s Edge entertainment, shopping and dining complex, featuring two new restaurants and a poolside bar with themed music and entertainment.
Located next door to Walt Disney World® Theme Parks, Orange Lake Orlando is comprised of four resort villages and spans more than 1,400 acres. By next summer, all three phases of the West Village revitalization will be complete. The other three resort villages include North Village: A Relaxing Oasis; East Village: A Golfer’s Paradise and River Island: A Tropical Island.
The Family of Orange Lake Resorts has evolved from a “best-kept secret” as the world’s largest single-site timeshare resort to a multi-site resort with a growing network. New resort additions in Wisconsin, Vermont and Florida were carefully selected and tailored for their owners and facilitated by a brand new member exchange program, GlobalAccess™. Orange Lake’s flagship location in Orlando was established in 1982 by Holiday Inn® Founder, Kemmons Wilson. The company plans to continue the expansion of their resort network and is actively seeking more growth opportunities to continue being the “home-away-from-home” to more than 110,000 owners from all 50 U.S. states and more than 120 countries.
For more information about The Family of Orange Lake Resorts, go to www.orangelake.com or contact Stacey Sutherland at 407.905.1914. Renderings are available.
McCormack Envisions “Carefree” Lifestyle for Sans Souci Bay Villages
November 15, 2007 | Leave a Comment
RJ McCormack Architect, Inc. has been selected by developer IAK Florida Builders, LLC, to provide urban design, planning and architectural services for its new $460 million dollar residential community. San Souci, which is named for a French expression meaning “without care,” will offer four distinct Mediterranean-style “villages” each featuring its own pool and spa, cabanas, recreation center and other appointments. Options for residents include three 18-story condominiums, six five-story mid-rise buildings, plus villas and town homes. Of the 47 acres that make up the site, only about 14 will be developed, with the remaining land to be left in its natural state.
“This project provides a great opportunity for folks who have found their residential options limited to single-family homes,” explains principal architect, R.J. McCormack. “Sans Souci affords a variety of lifestyle options, with surroundings that include verdant parks, deep lagoons, lush vegetation — enhancing livability for humans and Florida’s unique wildlife too. It really is a fresh approach to housing for Cape Coral.” Read more
$18 Million in Timeshare Rentals Directly Into the Hands of Timeshare Owners
November 15, 2007 | Leave a Comment
Leading timeshare resale and timeshare rental advertising and marketing company launches new rental program to make renting timeshare easier and which is expected to drive the company’s $18 million dollars in rental offers even higher before year-end.
Sell My Timeshare NOW, a global leader in the advertising and marketing of timeshare resale and timeshare rentals, is launching a new timeshare rental program designed to make it easier than ever to rent timeshare. The new program, ‘Rental Assist,’ takes the company’s previous timeshare rental services to the next level, by offering in-house client matching for prospective timeshare renters and timeshare properties. Read more
The Westin Imagine Orlando Announces Executive Management Team
November 15, 2007 | Leave a Comment
Intrawest Hospitality Management (IHM), a worldwide resort management company with 10 properties throughout North America, Canada and France announced the expansion of its warm-weather resort portfolio to include six resort communities in Florida including The Westin Imagine Orlando, scheduled to open spring 2008. Read more
Future Looks Bright For Timeshare
November 15, 2007 | Leave a Comment
The outlook for the timeshare industry is decidedly sunny, according to an latest AIF (ARDA International Foundation) annual benchmark study by PricewaterhouseCoopers (PwC). The report, which analysed the financial performance of the timeshare market in the USA, highlights a consistently robust track record within this growing holiday and leisure sector.
The study, which focused on an industry subset of 40 companies comprising 298 timeshare resorts in active sales, showed that companies posted a healthy 14.3 per cent growth, on average, during 2006. Read more
Timeshare owners highly satisfied
November 15, 2007 | Leave a Comment
Companies and organisations involved in legitimate timeshare have hit back at being wrongly tarred when mistakenly referred to in the same breath as fraudulent holiday clubs.
Sue McNicol, head of operations for the Organisation for Timeshare in Europe (OTE), the industry’s trade body, criticised UK publication Travel Weekly for “incorrectly referring to timeshare when covering the Office of Fair Trading’s (OFT) recent campaign warning consumers of the dangers of signing up to bogus holiday clubs”*.
Timeshare, which has been legislated by the European Timeshare Directive for the past 10 years, is positively received by the vast majority of purchasers. Such is its popularity, there are now more than 1.45 million timeshare owners in Europe, and the numbers continue to grow. Read more
The Anfi Group wins at OTE Conference 2007
November 14, 2007 | Leave a Comment
For the second year running, the Anfi Group has been awarded OTE’s Outstanding
Quality Award at the OTE Conference 2007 in Vilamoura.
The award was attained by Anfi’s current project Anfi Tauro Golf & Luxury Resorts,
which is the most challenging project within the Anfi Group portfolio. This development
will provide the continuing high service levels and quality luxury accommodation that
has been Anfi’s trademark characteristic since the first resort, Anfi Beach Club, opened
in 1988. Read more
Interval International Sponsors Bolsa Mexicana De Inversion Inmobiliaria Y Turistica 2007
November 14, 2007 | Leave a Comment
Interval International, a leading global vacation exchange company and operating business of IAC (Nasdaq: IACI), is a platinum sponsor of the “Bolsa Mexicana de Inversión Inmobiliaria y Turística 2007” (BMIIT 2007) being held this week at the Expo Bancomer in Mexico City. The event is organized by the National Trust for Tourism Development (FONATUR).
“This premier real estate and tourism forum continues to play an important role in driving future economic growth to Mexico through its focus on investment in the region’s hospitality industry,” said Marcos Agostini, Interval’s assistant vice president of resort sales and service for Latin America. “Interval is pleased to support the efforts of Mexican tourism officials in organizing the event.” Read more
Bonaire Recognises Industry Partners With Golden Flamingo Awards
November 14, 2007 | Leave a Comment
Honoring select industry partners that have contributed positively to Bonaire on November 1, 2007 Bonaire presented its Second Annual Golden Flamingo Awards.
The recipients of the Golden Flamingo Awards 2007 were:
Airline of the Year American Eagle
Media Partner of the Year DiveNewswire
Tour Operator of the Year PADI Travel Network
Person of the Year Timothy Webb Read more
Starwood Hotels and Resorts Ramps up Its Presence in Latin America with the Addition of Three New Hotels in Peru
November 14, 2007 | Leave a Comment
The New Properties Include the First Westin in South America and Two Luxury Collection Hotels
Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) is rapidly expanding its presence in South America, announcing plans to open three new properties in Peru. In a franchise agreement with Inmobiliaria Inversiones Nacionales de Turismo S.A., Starwood will open its first Westin hotel in South America in Lima, Peru as well as two Luxury Collection properties - one in Cusco, the capital of the ancient Inca Empire, and the other in the sacred valley of Urubamba, near the Inca trail to Machu Picchu. Read more
HawaiiFractionals.com Debuts Mid-Range Hawaii Fractional Vacation Homes
November 14, 2007 | Leave a Comment
HawaiiFractionals.com announces the opening of their first Hawaii fractional vacation home, the Kaiola Sunrise, a high-rise contemporary condo just steps from Oahu’s Wakiki Beach, jogging distance of Ala Moana Beach Park and close to top shopping and dining.
“With fractional ownership you pay for a deeded interest in a property, in this instance one-sixth ownership of a vacation home in Hawaii,” said Athens Arquette, vice president of Arquette Properties whose firm handles the sales and property management for HawaiiFractionals.com. “For those who want to own a vacation home, but are too busy to use it year-round, fractional ownership is the ideal solution. Fractional owners only have to pay their portion of taxes and maintenance expenses and don’t have the responsibilities attached to full ownership.” Read more
Scott Lange Joins SPI
November 14, 2007 | Leave a Comment
Systems Products International (SPI), the leading provider of software to the vacation ownership industry, recently announced the appointment of Scott Lange as Sales Executive. He will report to Director of Sales Matt Brosious and assist with the sales and marketing of SPI’s products to prospective new clients.
“I am pleased to be working with Scott. We have a tremendous opportunity in bringing the vacation ownership industry’s most advanced suite of software products to market,” observes Matt. “As we look forward to our 30th anniversary, we are proud of SPI’s visionary leadership. SPI has built a powerful software offering that combines industry “best practices” with a robust Microsoft .NET technology platform. The industry reaction has been very positive.” Read more
Bluegreen Corporation Reports 2007 Third Quarter Results
November 14, 2007 | Leave a Comment
Third Quarter 2007 Highlights
• Bluegreen Resorts Sales Rose 14.4% to Third Quarter Record $149.1 Million
• Bluegreen Communities Generates $4.5 Million of Field Operating Profit
• Net Income of $14.0 Million, or $0.45 Per Diluted Share
• Book Value of $12.04 Per Share
Bluegreen Corporation (NYSE: BXG), a leading provider of Colorful Places to Live and Play®, today announced financial results for the three and nine months ended September 30, 2007 (see attached tables).
Total sales in the third quarter of 2007 rose to $180.9 million from $172.5 million in the same period last year, due primarily to record vacation ownership (“Resorts”) sales, partially offset by lower homesite (“Bluegreen Communities”) sales. Bluegreen Resorts and Bluegreen Communities yielded Field Operating Profit (1) of $29.7 million and $4.5 million, respectively, during the third quarter of 2007 (see tables entitled “Supplemental Segment Financial Data”). Net income in the third quarter of 2007 was $14.0 million, or $0.45 per diluted share, as compared to net income of $21.9 million, or $0.71 per diluted share, in the same period last year.
BLUEGREEN RESORTS
Bluegreen Resorts sales increased 14.4% to a third quarter record $149.1 million from $130.3 million in the third quarter of 2006. Higher Resorts sales were primarily attributable to a significant increase in sales to existing Bluegreen Vacation Club® owners from the third quarter of 2006; these sales comprised 42% of Resorts sales for the third quarter of 2007 as compared to 34% of Resorts sales during the comparable prior year period.
(1) Field operating profit is defined as operating profit prior to the allocation of corporate overhead, interest income, other income, interest expense, and income taxes.
Same-resort sales increased, led by sales offices at the Smoky Mountain Preview Center in Sevierville, Tenn., The Falls Village™ resort in Branson, Mo., MountainLoft™ in Gatlinburg, Tenn., and an offsite sales office in Las Vegas. Higher sales were also attributable, to a lesser extent, to the opening of new sales offices at SeaGlass Tower, located in Myrtle Beach, S.C., and at a new resort under development in Williamsburg, Va., as well as a system-wide price increase that went into effect during March 2007.
Results for the third quarter of 2007 also included a gain on sale of notes receivable totaling $19.9 million, which is required by generally accepted accounting principles to be reflected as a $24.2 million increase in Resorts sales with an offsetting $4.4 million contra-revenue amount in sales of notes receivable. This compares to a $21.6 million gain on sales of notes receivable in the third quarter of 2006, reflected as an $18.1 million increase in Resorts sales and $3.5 million of revenue in sales of notes receivable.
In accordance with Statement of Financial Accounting Standards No. 152, “Accounting for Real Estate Time-sharing Transactions” (”SFAS 152″), as of September 30, 2007 approximately $32.9 million and $18.5 million of Resorts sales and profits, respectively, were deferred under SFAS 152 as these contracted sales had not yet met the requirements for revenue recognition. These amounts compare to $37.8 million and $21.0 million of Resorts sales and profits, respectively, which were deferred as of June 30, 2007. Deferred amounts are expected to be recognized in future periods. In addition, SFAS 152 requires that Resorts sales be reduced by estimated uncollectible timeshare notes receivable, which were estimated to be $19.5 million for the third quarter of 2007 and $18.1 million for the third quarter of 2006.
Resorts cost of sales in the third quarter of 2007 was 25.8% as compared to 19.8% in the third quarter of 2006, the result of a higher percentage of Resort sales in relatively higher cost properties. Resorts cost of sales as a percentage of sales for the fourth quarter of 2007 are expected to range between 23% and 26%.
John M. Maloney Jr., President and Chief Executive Officer of Bluegreen, commented, “Bluegreen Resorts offers owners access to a multitude of vacation destinations at a price that fits their budget and with a flexibility that conforms to their individual lifestyle. We believe that Bluegreen’s growing brand recognition, the geographic diversity of our properties, and unwavering commitment to customer service have combined to produce another quarter of record Resorts results. We are continuing to make investments to expand our destination portfolio and are pleased to report that construction is progressing at our newest Resorts in Las Vegas and Williamsburg, both of which are expected to begin accepting guests during 2008.”
Mr. Maloney also noted that Bluegreen consummated two significant financial transactions during the third quarter of 2007. In August 2007, the Company renewed and expanded an existing unsecured revolving line of credit with Wachovia Bank, N.A. In September 2007, Bluegreen completed a private offering and sale of $177.0 million of timeshare loan-backed securities.
BLUEGREEN COMMUNITIES
Sales at Bluegreen Communities declined to $31.7 million from $42.2 million during the same period last year. Bluegreen Communities cost of sales in the third quarter of 2007 was 54.0% compared to 49.7% in the same period one year ago.
Mr. Maloney commented, “Lower sales at Bluegreen Communities reflect the substantial sell-out of several communities that were in active sales during the third quarter of 2006 and the deferral of revenue recognition of $3.4 million of sales contracts in communities that have not yet received final platting approval, partially offset by the commencement of sales at three new Bluegreen Communities subsequent to the third quarter of 2006. This segment of our business continued to operate profitably during the third quarter. In addition to the previously disclosed impact of reduced inventory levels, we believe that Bluegreen Communities sales in certain regions are also being negatively impacted by a generally sluggish residential real estate market. Because of the changing dynamics of this market, we are reviewing the sales and marketing of existing properties and the acquisition of new inventory at Bluegreen Communities. While we are optimistic about new sales and marketing initiatives in this segment, we anticipate that land purchases will only be consummated on a selective basis with a view towards aligning our Bluegreen Communities inventory with current and anticipated market demand. Bluegreen Communities, which comprised 18% of our consolidated sales and 13% of our consolidated Field Operating Profit in the third quarter of 2007, remains an important part of our business, but we expect it to continue to be a smaller component of our consolidated results as we continue to focus on future growth at Bluegreen Resorts.”
As of September 30, 2007, approximately $14.3 million and $6.3 million of Bluegreen Communities sales and profits, respectively, were deferred under the percentage-of-completion method of accounting. It is expected that these amounts will be recognized in future periods ratably with the development of the communities. These amounts compare to $20.7 million and $8.9 million of sales and profits, respectively, deferred as of June 30, 2007. Therefore, net recognition in the third quarter of 2007 of revenues and profits previously deferred under the percentage of completion method of accounting totaled $6.4 million and $2.6 million, respectively. In the third quarter of 2006, net recognition of revenue and profits previously deferred under the percentage-of-completion method of accounting totaled $4.0 million and $2.2 million, respectively.
OTHER FINANCIAL INFORMATION
Bluegreen’s balance sheet at September 30, 2007 reflected unrestricted cash of $113.1 million, a book value of $12.04 per share, and a debt-to-equity ratio of 1:1.
Total positive net interest spread (interest income less interest expense) was $5.0 million in the third quarter of 2007 as compared to $6.5 million in the third quarter of 2006. Interest income declined due to the write down of approximately $0.6 million of the carrying value of Bluegreen’s retained interests in notes receivable sold as a result of increased market discount rates, while interest expense rose due to an increase in outstanding debt. Bluegreen increased borrowings on operating lines of credit during the third quarter of 2007 in order to increase its cash on hand.
NINE-MONTH FINANCIAL RESULTS
Total sales for the nine months ended September 30, 2007 increased to $446.2 million from total sales of $436.3 million in the first nine months of 2006. Resorts sales increased 15.4% to $341.5 million from $295.8 million in the comparable period one year ago. Bluegreen Communities sales for the first nine months of 2007 were $104.6 million, a decrease from sales of $140.4 million in the nine-month period ended September 30, 2006. Bluegreen Communities sales in the nine months of 2006 included $7.0 million of revenue related to the bulk sale of land in California on a non-retail basis; there was no such sale in 2007.
Net income for the nine months of 2007 was $23.4 million, or $0.75 per diluted share, as compared to net income of $28.0 million, or $0.90 per diluted share, in the same period last year. Net income for the nine months of 2006 included a cumulative effect of change in accounting principle charge, net of income taxes and minority interest, totaling $4.5 million, or $0.14 per diluted share; there was no such charge in 2007.
CONFERENCE CALL
Bluegreen Corporation will host a conference call on Tuesday, November 6, 2007 at 10:00 am ET to discuss this news release. Interested parties may participate in the call by dialing (866) 770-7125 (Domestic) or (617) 213-8066 (International) and use the code 91727651 approximately 10 minutes before the call is scheduled to begin, and ask to be connected to the Bluegreen conference call. A recorded replay of the call will be available until November 13, 2007. Listeners may dial (888) 286-8010 (Domestic) or (617) 801-6888 (International) and use the code 62438379 for the replay. In addition, the conference call will be broadcast live over the Internet at Bluegreen’s corporate web site, www.bluegreencorp.com. To listen to the live call on the Internet, go to the web site at least 15 minutes early to register, download and install any necessary audio software. If you are unable to participate in the live call, the conference call will be archived and can be accessed on Bluegreen Corporation’s web site for approximately 90 days.
ABOUT BLUEGREEN CORPORATION
Bluegreen Corporation (NYSE:BXG) is a leading provider of Colorful Places to Live and Play® through two principal operating divisions. With approximately 183,000 owners, Bluegreen Resorts markets a flexible, real estate-based vacation ownership plan that provides access to over 40 resorts and an exchange network of over 4,000 resorts and other vacation experiences such as cruises and hotel stays. Bluegreen Communities has sold over 55,000 planned residential and golf community homesites in 32 states since 1985. Founded in 1966, Bluegreen is headquartered in Boca Raton, Fla., and currently employs over 6,000 associates. In 2005, Bluegreen ranked No. 57 on Forbes’ list of The 200 Best Small Companies and No. 48 on FORTUNE’S list of America’s 100 Fastest Growing Companies. More information about Bluegreen is available at www.bluegreencorp.com.
Industry Specialist Margit Whitlock Opens New Company
November 14, 2007 | Leave a Comment
Resort ProSource Specializes in High End Sourcing and Procurement for Hospitality Industry
Margit E. Whitlock, AIA, Principal of Architectural Concepts, Inc. (ACI), an award-winning design firm specializing in the hospitality and vacation ownership industries, has announced the opening of a new sister company, Resort ProSource. The new firm will provide quality professional purchasing for resorts, timeshares, fractionals, hotels, restaurants and spas.
Specializing in sourcing value driven quality products, Resort ProSource provides FFE purchasing services for high-end ground-up projects, as well as major renovations of existing properties.
“During our 15 years in the hospitality design industry, we have consistently heard our clients ask ‘how do we keep the costs down while creating a unique environment for my owners and guests?’ After providing purchasing services in-house for our projects for five years the time came to open our resources to the industry. We created Resort ProSource, Inc. (RPS) to share our expertise and to also streamline the process – On line with custom software.
“Whether you are an on-site property manager, a management company, a designer or a developer, Resort ProSource provides an efficient tool for your purchasing needs” says President Margit Whitlock. “Our extensive experience with furniture, fixtures and equipment suppliers gains us access to products at considerable savings while maintaining quality control and consistency.”
According to Whitlock RPS delivers the know-how of an experienced professional purchasing agent for management of all purchasing requirements including authorization and tracking. RPS also sets up warehousing, freight and installation. She says many resorts accomplish all these functions in-house with inexperienced personnel and at a considerable expense.
“We focus on a targeted niche for luxury hospitality developments which require a level of detail and design above the normal. Our goal is to source that high-end design at a reasonable cost, but it takes tenacity.” says Whitlock. “If a manager or developer is looking to buy inexpensive off the shelf products, we are not the right source. However, if they want that “extra something special” but avoid costly mistakes, we can help through our global purchasing power.”
Included in Resort ProSource membership is an account manager to help define spending controls, realistic budgets and schedules. Members may access accounts, run reports and place orders at anytime on-line. To apply for membership to Resort ProSource visit www.Resortprosource.com or call 619-531-0110.
Real Estate Opportunities Overlooking Award-Winning Osprey Meadows Golf Course Now Available at Tamarack Resort in Idaho
November 14, 2007 | Leave a Comment
Luxury Condominiums Feature Breathtaking Views of the Robert Trent Jones Jr.-Designed Gem
Combining the best of an all-season lifestyle with world-class golf, Tamarack Resort is presenting residential condominium opportunities in the new Lodge at Osprey Meadows Lake Wing
The Lake Wing occupies an elegant perch at the entrance to the award-winning Osprey Meadows Golf Course – named the “Best New Public Course $75 and over” for 2006 by Golf Digest – and is framed by the Lodge at Osprey Meadows Main Wing and the under-construction Village Plaza.
The first opportunity to purchase a luxury condominium in the Lake Wing occurs November 10 for those that have secured a priority reservation, with a second release of real estate in early 2008. The fully-furnished residences range in size from 513 to 2,690 square feet and in price from $500,000 to $3.5 million. To secure a priority reservation and participate in the launch buyers should contact the Tamarack Resort Realty office.
It is truly luxury with a conscience, as the Lake Wing is being built to comply with the LEED® Green Building Rating System, the nationally accepted benchmark for the design, construction and operation of high performance green buildings.
“The Lake Wing offering is our first foray into sustainable design and construction, which keeps with our ongoing efforts at Tamarack Resort to be environmentally friendly,” says Jennifer Manning, Director of Real Estate Marketing at Tamarack Resort. “By minimalizing the impact on the environment – both with the Lake Wing and in our day-to-day efforts – we are providing a healthy atmosphere for our homeowners and guests.’
Lake Wing is being recognized for a wide range of eco-friendly initiatives: reducing water use, preserving natural open space, diverting more than 50 percent of construction waste from landfills, sourcing local materials and ensuring healthy indoor air quality, thermal comfort and high-efficiency energy performance while providing daylight and views from 90 percent of spaces.
In addition to the amenities of the nearby Lodge at Osprey Meadows Main Wing – Morels Gourmet Dining and Lounge, Santé Spa, concierge services, fitness facility with pools, and the Golf and Nordic Shop – Lake Wing residents also will have their own indoor/outdoor yoga studio, game room, resident lounge, and heated, underground residential and golf-cart parking.
A Sports Membership deposit* for The Club at Tamarack is included in the Lake Wing purchase price. The Club is a private, all-access experience integrating the best of traditional golf, mountain, and lake club resort memberships with opportunities to experience Idaho’s outdoors with the region’s most-respected outfitters and guides (*monthly dues apply).
For more information about priority reservations for the Lake Wing or other property at Tamarack, please contact Tamarack Resort Realty at www.TamarackResortRealty.com or 866.895.9690.
About Osprey Meadows Golf Course
Osprey Meadows sits at the base of the Payette River Mountains, and weaves through lush meadows and kisses the sun-drenched shores of Lake Cascade. In just its second full season of golf, the course has garnered top honors from golf’s leading publications. In addition to being named the Best New Public Course $75 and over for 2006, accolades for Osprey Meadows include:
• No. 2 Course in Idaho (top public-access course) – Golf Digest (May 2007)
• Top 10 New Courses You Can Play – GOLF Magazine