Timeshare Information

As the Economy Goes So Goes the Hospitality Industry 

There is good news for the timeshare industry, which was hard hit during the recession when travelers postponed vacations and held back on new purchases.  Recently there are indications that companies are showing they can compete, thrive, and do better.

Industry leaders are seeing a recovery in the resort industry. According to a report from Jones Lang LaSalle, 'the resort sector accounts for 18.4 percent of total investment transaction volume this year in the hospitality sector." The report goes on to say that "the increase is due to $2.46 billion of transactions through year-to-date August 2013, the highest volume in the segment since 2007, and more than triple that of 2012."

The Jones Lang LaSalle report also states, "even though the resort market is taking off, not all assets are ready for the flight." "During the downturn, resorts held off on renovations. Now owners may be able to add amenities and create a more differentiated product. Companies who are able to go to market in the next three years with a renovated product and capitalize on the on the upswing with added value, may attract more investors."

FARROW Commercial Construction, a hospitality construction company in Santa Rosa, California understands the upswing in the industry. The nationwide company reports revenues up 300% over last year at the half-way mark.

John Farrow, President and CEO of FARROW says, "We are growing again. After the few soft years where not many were breaking down our door to get either refurbishments or ground-up construction done, we are very happy to report that the tide has changed and we are once more on the move." Farrow attributes his company's growth surge to competitive pricing, faster timelines and strong communication.

Another turn-around happened recently when construction resumed in Las Vegas.  Construction started up on a Wyndham Worldwide project, a 281 unit timeshare called The Desert Blue.  Work on the project had halted four years ago.

Breckenridge Grand Vacations has broken ground on a very high end, luxury 75-unit timeshare called the Grand Colorado Resort. According to Rob Millisor, an owner/developer of the company, “The Grand Colorado will be the pinnacle resort within this community. With only 75 residences, it will become the most exclusive fractional/timeshare resort to own." The company is also showing its industry optimism by looking to hire new sales representatives. “We have more qualified prospects than we can currently handle," says Dave Stroeve, Vice President of Sales and Marketing.

Cautious Optimism?

Though there are definite signs of upswing in the hospitality industry, should we remain cautiously optimistic?  We see how certain events can affect the industry. The current government shutdown has caused the closure of many top tourist attractions and, in turn, caused consumers to cancel travel plans. The industry needs to be prepared and anticipate future events that could potentially impact timeshare growth.

Breckenridge, Colorado, is home to world-class skiing, an historic downtown built during Colorado's 1850's Gold Rush, and some great timeshare resorts. Even through the economic down-turn of the recession, Breckenridge Grand Vacations is one company that has continued going onward and upward and never looked back.

Started in 1985 by brothers Mike and Rob Millisor (see photo), Breckenridge Grand Vacations operates three timeshare resorts in Breckenridge: Grand Lodge on Peak 7, Grand Timber Lodge and Gold Point Condominiums. From 2009 to 2010 Breckenridge Grand Vacations experienced an 8 percent increase in gross sales dollars from 2009 to 2010 and a 5 percent boost in sales transactions over the same time.

Mike and Rob are committed to creating great family vacations. Their solid, 4-component business philosophy, comprised of investors, owners & guests, employees and the community, has given them the focus for their incredible success in the vacation ownership business in Breckenridge.

“We are encouraged by the continue growth in our owner base, and we believe our product fits the needs of our clients who want deeded ski-in, ski-out ownership without paying millions of dollars for it,” Breckenridge Grand Vacations chief financial officer Nick Doran said.

The leadership team at Breckenridge Grand Vacations is very involved in the American Resort Development Association (ARDA), the national organization that "fosters and promotes the growth of the vacation ownership industry and serves its members through education, public relations and communications, legislative advocacy, membership development, and ethics enforcement."

The company was recognized by ARDA in 2003 and 2005 with Circle of Excellence awards. In 2010 Breckenridge Grand Vacations was again recognized by ARDA as outstanding in various categories. Awards are given "to those employees acknowledged by vacation ownership industry leaders as the “best of the best” in the $10 billion dollar business worldwide." Seven Breckenridge Grand Vacations employees, ranging from members of the marketing department to the housekeeping manager, received the coveted awards

Breckenridge Grand Vacations has also received the Better Business Bureau Torch Award for Marketplace Ethics, given for consistently fair and honest treatment of customers, owners, guests and employees.

To this day, Mike and Rob believe in a hands-on management style that ensures the level of excellence. The brothers have made Breckenridge home for their families during the past two decades, and are actively involved in the community.

Learn more about Breckenridge in the winter and in the summer.

(Photo credit - breckenridgegrandvacations.com)