Programs ranging from effective rentals to lifestyle incentive products took center stage at Perspective Magazine’s Global Networking Expo.
Four very different industry professionals took the stage during the “Increasing Revenue and Decreasing Marketing Costs” session at the GNEX 2011 timeshare and fractional industry expo, but all with excellent ideas for increasing revenue at a time when resorts are looking for ways to generate new income streams.
Martin Kandel, Executive Vice President for Global Business Development, International Cruise and Excursions (ICE) joined Michael Laws, CEO, Connex UK & Ireland, Steve Reich, Senior Vice President, LeisureLink and Frank Shellabear, President Sales Division, CSA Travel Protection to discuss various methods that companies can use to increase their bottom line. [member]
Held during Day two of the conference on May 12, 2011, at the Atlantis Resort in the Bahamas, Laws began the session by highlighting the need for incentive programs, such as modern and flexible voucher incentives for free accommodation, as closing tools to help resorts with sales. His company also provides incentive products through a network of retail outlets in Europe and the U.K. and explained the success that such programs can provide resorts looking for new ways to reach consumers.
Rental programs were discussed in detail by Reich, who explained that LeisureLink’s distribution platform currently services 1,500 properties. The broadest distribution possible and consistent pricing across all distribution channels are the keys to successful rentals according to Reich, who said that “the market tells you what the price is” and “if you’re more than a few dollars out of market, you will book zippo.” Reich added that “you want to see what the benchmark price is and price accordingly against the strategy you have for your property and the state of your inventory.”
Shellabear’s message of travel insurance protection was especially poignant at a time when natural disasters have ravaged sections of the U.S. He mentioned that such insurance options included either at the sales table or with maintenance fees can not only generate additional revenue for resorts, but protects maintenance fees, exchange fees and rental income in case of trip cancellations.
Kandel was especially direct in his comments to attendees, adding that “we all must provide product that is relevant to the broadest spectrum of the marketplace and maintain that relevance for the long term.” ICE currently provides lifestyle-themed vacation packages such as golf getaways, wine-tasting tours, spa packages and sporting event packages as products to add value to sales incentive strategies.
“The broader the offer, it’s just intuitive that you’ll make yourself and your product available to a greater number of people, and we have noticed that people that have implemented our products, and you look at other companies out there that are doing similar things, they’re the guys that are really driving their businesses,” said Kandel.
GNEX 2011 saw industry associations from five continents give their support to the event as attendees from the USA, Canada, Mexico, the Caribbean, South America, UK, Spain, Portugal, Italy, Russia, Thailand, Hong Kong, China, Malaysia and Australia examined creative new ways to grow their businesses. A full review will be available in the next edition of Perspective Magazine.
Thirty-four winners were announced during the inaugural Perspective Magazine Awards Gala dinner from nearly 150 nominees in a wide variety of categories such as Best Fractional Resort, Best Technology Award and Best Industry Leader. A full list of award winners can be viewed at http://perspectivemagazine.com/gnex/category/gnex-2011/
Sponsors and supporters of GNEX 2011 included:
The Absolute World Group, Blue Strawberry Resorts, Dial an Exchange, Resort Television, Yucatan Holidays, Citadel Trustees Limited, Connex, First American Title Insurance Company, ICE, Interval International, LeisureLink, Lloydshare , Max Generation, RCI, First National Trustee Company, Alternative Ownership Conference Asia Pacific (AOCAP), Australian Timeshare & Holiday Ownership Council (ATHOC), Canadian Resort Development Association (CRDA), Cooperative Association of Resort Exchangers (CARE), La Asociación Mexicana de Desarrolladores Turísticos (AMDETUR), Ragatz Fractional Interest Conference, Resort Development Organisation (RDO), Vacation Ownership Association of Southern Africa (VOASA), American Airlines, Avis Rent A Car and Christel House International as Charity of Choice.
About Perspective Magazine
Perspective Magazine is the leading independent, multi-media information provider for the shared ownership industry. Publisher of four regional brands: industry publications Perspective Magazine North America, Perspective Magazine Europe & Middle East, Perspective Magazine South Africa and Perspective Magazine Asia Pacific, the magazines are, combined, the most read independent trade publications globally for the industry. Perspective Magazine also publishes online through http://perspectivemagazine.com, hosts an online community of industry professionals through Perspective Forums, engages a social media audience of over 44,000 followers through its corporate social media accounts and is a media sponsor of 30 major industry events around the world. The company’s annual global networking expo, GNEX, gathers the top industry professionals from around the world to network, create new strategic alliances and develop joint ventures that can benefit their businesses.
The company’s consumer magazine, Owners Perspective Magazine, is the only independent consumer publication that specializes in promoting the benefits of buying shared ownership products to the general public. Distribution is via a variety of high-profile channels including, but not limited to, more than 150 first class airport lounges around the world. Owners Perspective Magazine’s online version, http://ownersperspective.com, features consumer news and lifestyle articles and will also host the company’s latest endeavor, Vacation TV, a streaming 24/7 online video channel full of information about vacation ownership products and services.
For more information, please visit http://perspectivemagazine.com or email Steve Luba, Director of Public Relations, at steveluba(at)perspectivemagazine.com. For information on advertising and editorial opportunities visit http://perspectivemagazine.com/advertise. [/member]Tags: Connex UK & Ireland, CSA Travel Protection, fractional, Frank Shellabear, GNEX 2011, ICE, LeisureLink, Martin Kandel, Michael Laws, perspective magazine, Steve Reich, timeshare