Timeshare Information

The University of Pennsylvania's online business journal, Knowledge@Wharton, interviewed Wyndham Worldwide Chairman and CEO Stephen Holmes, on the changing nature of leisure travel. Holmes discusses what changes he has witnessed in the industry and why timeshares have done surprisingly well during the economic downturn.

Below are excerpts from this interview which was posted January 6, 2011.

KW: Steve, could you briefly describe the scope of Wyndham Worldwide in terms of the timeshare brand?

SH: Wyndham Vacation Ownership is a traditional timeshare business, in which you build or develop timeshare units, market them, sell them to consumers and provide financing for the purchase. Then we manage the resorts as well.

KW: How has the recession impacted that part of your business?

SH: The timeshare business, which many people think would have been very impacted because consumers might be pulling back and spending less money to buy timeshares, performed exceedingly well.

KW: To what would you attribute the up-tick in timeshare purchases?

SH: There are a number of reasons why the performance was enhanced. One particular reason would be that because there was so much uncertainty in the marketplace and people were wondering "What's my future going to look like?" consumers may have been a little turned on to, "I wouldn't mind having my vacations assured. If I don't know where the rest of the world is going, I can at least know that I am going to be able to go on vacation

KW: Have you seen the needs of your average customer change over the time that you have been with Wyndham?

SH: Yes. One shift would be the sociology of who is traveling. You see more families traveling together -intergenerational travel has become much more popular. That trend that has been in place in Europe for some time is now coming to the U.S.

KW Have you had to implement internal strategies to beef up customer service over the course of the past few years in light of the economy?

SH: We have, but I think it was coincidental because we launched it before 2007, before things started really getting rough. We had launched something called Count on Me, which is our rallying cry for service -- to be responsive to your needs, be respectful, and deliver a great experience. Those are our three pillars of Count on Me.

Service is critically important. Like I said, the impression you get from the person at the front desk or the person who cleans the rooms walking down the hall. Do they greet you? Do they look you in the eye? Do they say good morning to you? That's very important. That leaves you with an impression of how much people care about you in the facility.

(Photo credit - knowledge.wharton.upenn.edu)

Hilton Worldwide today announced the promotion of George J. Massa to vice president and managing director of development, Mexico. In this role, Massa will address development opportunities and foster relationships with current and potential partners in Mexico. Prior to his promotion, Massa served as senior director of development, Mexico, evaluating potential investment, franchise and management initiatives.

“George has an incredible amount of experience in the Latin American hospitality industry and we are delighted that he is taking on a larger role within our organization,” said Craig Mance, Hilton senior vice president, development, North America. "In his new role, George will help us do even more to address the needs of our owners and pursue opportunities in Mexico that will bring many benefits to our company,”

Massa has 36 years of professional services experience in the hospitality industry. He has served several multinational hotel corporations and hotel owners as well as investors, developers, leading lending institutions, government agencies and consulting firms. Prior to Hilton Worldwide, Massa served as president of International Hospitality Solutions, a hotel advisory and management company, and spearheaded the organization’s growth in Latin America.

Massa studied business administration at Catholic University and the University of Lima in Peru. A native of Peru, he is fully bilingual in English and Spanish.

Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 91 years, Hilton Worldwide has been offering business and leisure travelers the finest in accommodations, service, amenities and value.

The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,600 hotels and 600,000 rooms in 82 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, and Hilton Grand Vacations.

Marriott Vacation Club, the premier timeshare brand of Marriott International, announced today the introduction of the points-based Marriott Vacation Club Destinations program to its Owners and customers in Mexico, Central America, and South America.

"Building on over 25 years of innovation, evolution and industry leadership, the Marriott Vacation Club Destinations program offers greater flexibility, further personalization and more experience opportunities for Owners," stated Amy Immerfall, Marriott Vacation Club public relations.

“We’re excited to expand this offering to our current and future Owners in Mexico, Central and South America. We’ve already seen an exceptional response over the past six months with our North American launch,” said Lee Cunningham, executive vice president and chief operating officer for Marriott Vacation Club, North America and the Caribbean.

Participating countries include Argentina, Barbados, Bermuda, Brazil, Chile, Colombia, Costa Rica, Curacao, Ecuador, El Salvador, Guatemala, Jamaica, Mexico, Panama, Peru, Trinidad/Tobago and Venezuela.

Marriott Vacation Club Destinations Owners will receive an annual allocation of Vacation Club Points to redeem for customized getaway experiences. They will also have the ability to bank, borrow, transfer and purchase additional Vacation Club Points each year.

In addition, the new program provides Owners the services of a personal Vacation Ownership Advisor to assist in travel arrangements within any one of the four Vacation Collections:

1. Marriott Vacation Club Collection: Enjoy reservation access among more than 50 luxurious Marriott Vacation Club resorts, including ease of any day check-in, varied lengths of stay, wide array of accommodation sizes, and more choice of travel season at resorts in North America and the Caribbean.


2. Marriott Collection: Choose from over 3,200 hotels and experience new destinations through trade for Marriott Rewards points.


3. Explorer Collection: Journey to new lands or cruise the seas in luxury with exchange for memorable and exceptional travel packages.


4. World Traveler Collection: Access a global system of over 2,500 resorts in more than 75 countries through Interval International.

While the Marriott Vacation Club Destinations program offers this enhanced opportunity to new customers in North America, the Caribbean, and now Mexico, Central and South America, current Owners will maintain the full rights and privileges of their ownership. At the same time, existing Owners will have the choice to enroll in this new program to further enhance their vacation experience.

It was just announced that Interval International and Marriott Vacation Club International will celebrate a 20-year relationship with a long-term renewal.

“We have worked collaboratively with Marriott for the past two decades on ground-breaking initiatives that have been instrumental in the growth of both businesses and of the vacation ownership industry,” said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group, parent company of Interval International. “It has been very rewarding to share a common vision based on quality and integrity in everything we do.”

“Interval has played an integral part in helping fulfill Marriott’s brand promise. For 20 years, we have created memorable vacations together and exceeded owners’ expectations,” said Stephen P. Weisz, president of Marriott Vacation Club International. “We look forward to continuing our partnership with the Interval team and introducing exciting innovations that will further enhance our owners’ experiences.”

It has been announced in a press release that Marriott Vacation Club’s Owner Services call center was recently named one of the ‘Best Places to Work’ by the Utah Department of Workforce Services’ "Work/Life Awards" for the third year in a row. Utah’s Work/Life Awards recognize excellence in the workplace and is known nationwide for its rigorous evaluation and application process.

“We are thrilled to be recognized as one of Utah’s ‘Best Places to Work’ for a third consecutive year,” said Lee Hall, general manager of Owner Services for Marriott Vacation Club. “We are committed to taking great care of our outstanding associates who in turn take care of our customers and continue to lead us to the highest levels of service and excellence.”

Marriott Vacation Club Owner Services is home to more than 475 associates and focuses on providing excellent customer service, worldwide reservations and Marriott Rewards assistance to over 400,000 Marriott Owners worldwide. Owner Services prides itself in offering flexible work schedules that allow associates to balance their work/home life; internal advancement and career growth opportunities; and direct manager to associate relationships.

Marriott’s “Spirit to Serve” philosophy is also an important part of the company culture and few have been more committed to serving the greater Salt Lake City community than Marriott Vacation Club Owner Services. Within the last year alone, the group has served at more than 10 local charities and non-profit organizations.

Global vacationing is becoming more and more a mainstream travel activity. Previously almost unapproachable, countries such as China, Thailand, and now Hungary, are opening their doors to world-wide tourism.

Interval International, a leading global provider of vacation services and an operating segment of Interval Leisure Group, Inc., has just announced that it has added Aurum Vacation Club in Hajdúszoboszló, Hungary, to its global network of resorts.

Located in one of the most popular spa areas in the region, the purpose-built resort. includes a mixture of studios and one- and two-bedroom units. The club offers guests a number of on-site amenities, including an indoor thermal water swimming pool, sauna, exercise room, restaurant and bar, health club, massage services, and medicinal spa.

“We’re confident this will be a popular destination for our members, with health tourism becoming increasingly attractive,” noted Darren Ettridge, Interval’s vice president of resort sales and service for Europe, Middle East and Africa. “In addition to its appeal as a wellness centre, the area offers a variety of activities and attractions for visitors to enjoy.”

“We are very happy being affiliated with Interval International,” said Dr. Ernő Ináncy, the owner of the resort. “We chose the company because of its very balanced and quality resort portfolio worldwide, especially in Hungary, and their flexible exchange options.”

Hajdúszoboszló, known as "the sunniest city in Hungary," is located in the northeastern part of the Great Hungarian Plain where the landscape of the renowned puszta (the "glorious plain") is enhanced by the Tisza river, with patches of reed, thousands of wild birds, inviting groves, and thermal springs.

The town's thermal springs has created one of the most popular spa centers in Europe. Promoters tout this "medicine chest of nature" as the remedy for numerous illnesses.
The pools, filled with water of various temperatures, are combined with balneotherapy and physiotherapy, to offer relief of many physical ailments. The microclimate of the medicinal baths, with the iodine content and salty humidity of the air, appears to speed recuperation.

At Aurum Vacation Club you'll enjoy a host of wellness and spa treatments. Relax in the indoor thermal swimming pool or sauna, enjoy massages and medical spa, or venture off-site discovering the many restaurants and shops, the Hajdúszoboszló National Park, and open-air medicinal baths. Or, be as active as you like with horseback riding, tennis, fishing, and the water park.

This area also has many sightseeing opportunities such as the Hungarian plains, the Hortobágy National Park,and the Hungarospa Hajdúszoboszló Medicinal Baths, one of the leading spa complexes in Hungary.

(Photo credit - intervalworld.com)

Missouri Secretary of State Robin Carnahan has announced that James McClellan, Jr., of Chesterfield, Mo., has been permanently barred from working in the securities industry after he sold more than $4 million worth of unregistered timeshare investments to Missouri residents.

Carnahan also announced sanctions against McClellan’s former employer, Huntleigh Securities Corporation, censuring the firm and requiring it to pay $100,000 for failing to supervise the agent, who sold securities “off the books.”

According to two consent orders, McClellan sold unregistered securities to 18 Missouri investors in the St. Louis area, six of whom were over 80 years old. McClellan got the group to invest more than $4.4 million in a Wisconsin timeshare resort in which McClellan is a managing member. He did not disclose to the investors that the resort was experiencing financial difficultly or that the investments were not being offered through his employer.

“It is unacceptable for financial professionals to misuse their clients’ trust. My office made sure that this broker won’t be able to work in the industry in Missouri again and that his employer knows how to better supervise its employees,” Carnahan said. “Before choosing to how to invest your hard-earned savings, always remember to call our Investor Protection Hotline to make sure the investment is properly registered.”

McClellan is barred from registering as a securities agent in Missouri. Huntleigh will be censured, and is required to pay at least $100,000 to the Missouri Investor Education and Protection Fund and more than $20,000 for the Securities Division’s costs.

Further, Huntleigh is required to hire an independent compliance consultant to review its supervisory policies and procedures and to adopt and implement the consultant’s recommendations.

Huntleigh’s failure to supervise McClellan and other deficient compliance procedures were discovered during a November 2009 for-cause, on-site audit of the firm led by the Securities Division’s Audit Unit. The Division’s investigation into the activities of former Huntleigh agents and principals is on-going.

For more information regarding Missouri investments and fraud protection, or for information regarding a company or representative, call the toll free Investor Protection Hotline at 1-800-721-7996, or visit the Missouri Secretary of State's online Investor Protection Center at www.MissouriSafeSavings.com.