MARKETING
DEVELOPER
BUSINESS
DESTINATION
PEOPLE
INDUSTRY
58 | LESSONS FROM TIMESHARE
www.opp.org.uk | APRIL 2010
developers are the future of shared ownership. “I believe we’ll see the emergence of a lot more mixed-use resorts offering a variety of products (timeshare, fractional and whole ownership or fractional and whole ownership dependent on location and other factors) that will breathe life and revenues into many whole ownership resorts that currently struggle to attract existing owners and renters,” says Piers Brown, owner of Fractional Life. “This way, the same levels of quality service and amenities previously promised and distinctly lacking in some resorts can be delivered.”
The lessons to be learned from timeshare are for developers to ensure it has a robust legal structure and to exercise close control over the sales and marketing messages and process – as these will help to avoid negative press for the product and the industry.
Nick Turner, The Registry Collection
process – as these will help to avoid
negative press for the product and the industry,” he says. “The legislation is there to support it, but it’s all about the sales and marketing control: don’t over-promise and under-deliver.
The benefits of lifestyle and shared ownership are still appealing, and the fractional industry can build on that. What developers shouldn’t do is try to add on too many things to confuse it or turn it into another type of product,
like selling rental yields.” Turner blames a lot of the present
confusion about fractional on the proliferation of lifestyle and investment models created by consultants who have emerged to help whole ownership developers fractionalise their product. But, with big players like Starwood, Marriott and Wyndham reducing or limiting their investment in timeshare (as it has declined by around 30% in the US), some feel that the mixed-use
Upgrade to up sales
Brown observes that resort developers are quickly realising the longer term benefits of incorporating timeshare elements by being able to upsell, whether it’s extra weeks or services. These days it’s more about the ‘upgrade’ rather than the upsell in timeshare, with developers like Seasons in Spain selling out their entire fractional offering to existing timeshare clients. Absolute has seen
Full due diligence completed Construction started
Full planning permissions in place Ready to sell
Range of buying options Mortgage finance available Secure and competitive commissions Full agent training Range of partner arrangements Market leading agent support Master agency agreements available
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68