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Vacation ownership is becoming a mainstream travel product. Continued growth based on number of units sold and an increasing number of international brands has placed this segment in a very strong position. As the market continues to grow, there is an increasing demand for clear and engaging sources of information on the key issues and components of vacation ownership, from both hospitality management students and the public. This book updates hospitality students in this vacation sector, provides the key background information, explanation of the growth, the components to vacation ownership management and an overview of opportunities in vacation ownership management. Timeshare Management provides the understanding of the financing, marketing, sales, management, and human resource issues surrounding the subject – vital to any hospitality and tourism student.
[...]... blank FOREWORD After working through the foreword you should: Understand timeshare service Recognise the similarities and differences faced by the timeshare sector Understand the structure of this book and the approach taken to the study of timeshare services Understanding Timeshare Timeshare is a relatively recent business format supporting hospitality and tourism services Put simply, timeshare formats... Where the owners can see the growing popularity of the resort is increasing the market value of the properties in the resort, they may decide to liquidate the value of the unit and take the profit Clearly the most important barrier to resale is the level of demand for ownership of properties in the resort Alongside the level of maintenance of the property this will impact on the perceived value of the. .. Understand the concept of timeshare offer - Understand that the operations cover a variety of facilities and services - Recognize that timeshare offers have evolved and changed over time - Understand that new entrants into the market have increased the professionalism of the sector INTRODUCTION The timeshare industry is one of the newest and fastest growing sectors of the international hospitality and. .. of timeshare consumers? c] Consider the strengths and weaknesses from the resort developer’s perspective Key point 1.3 The timeshare offer to consumers has evolved over time as some consumers have asked for more flexibility in the timeshare experience EVOLVING LEGAL APPROACHES Given the somewhat unusual nature of the timeshare unit purchaser and the resort owner, a number of models for handling the. .. that there were more buyers They had to increase and change marketing and sales activities, because they were now selling the same apartment 52 times each week of the year Most importantly, they released the capital value of the property for further property development Key point 1.1 Timeshare evolved in the latter part of the twentieth century to provide a form of holiday resort ownership based on the. .. agreement with the resorts timeshare owners association’ 2] The timeshare owners association may contract an outside firm to manage the resort and maintain the properties 3] The timeshare owners may decide to manage the property internally Whichever of these formats is employed, the key focus of the actions is to ensure that individual properties are kept to their original standard and that wider resort... continues to be maintained and developed along the lines agreed upon with the timeshare owners Typically, the association is controlled collectively by the timeshare owners, and an annual general meeting of timeshare owners helps set the agenda for the forthcoming year, reviews the activities of the previous year, generally holds the management team top account Key point 1.6 After the early stages of development,... access the right to accommodation within and between countries The timeshare owner buys accommodation of a certain quality for a given period of time There are a number of different schemes but the most simple and original format involves the timeshare owner buying the right to stay in particular lodge or apartment in the same resort for a fixed week each year Rather than buying the lodge or apartment, the. .. Europe The ‘shareholders’ had the right to use these properties on a regular basis - The benefits to the shareholder are that they can get regular access to properties which they know and trust - They are aware of the quality and service standards, as well as the location - The hotelier is able to raise capital with which to expand - The hotelier overcomes problems relating to accommodation – the space... purchaser has the right to inhabit the timeshare unit for a specified period of time, and at the termination of the lease, the property reverts to the timeshare developer Typically, the time period concerned is shorter than with a right-to-use agreement Irrespective of the precise legal nature of the agreement, in effect the timeshare consumer is usually known as the owner Any given developer can build and sell . Timeshare Management: The Key Issues of Hospitality Managers This page intentionally left blank Timeshare Management: The Key Issues of Hospitality Managers Tammie. blank FOREWORD After working through the foreword you should: Understand timeshare service Recognise the similarities and differences faced by the timeshare