Maybe we are on our way to economic recovery this year but the timeshare industry has more something to do to attract consumers. Well, there are still many owners who want to get out of their timeshares today and a large portion of consumers opt for other cheaper forms of vacationing. With these, timeshare operators must come up with strategies that will boost their sales and eventually attract consumers. One of such companies is the Orlando-based Wyndham Vacation Ownership who will market and sell units in Towers on the Grove condo building in North Myrtle Beach as timeshares. This locally based timeshare company has a new strategy that uses its sales force to market excess inventory of residential condominiums in resort areas.
The developer will provide financing while Wyndham will market and manage the timeshare community as one of its own, for a fee. The fee-for-service approach, which Wyndham calls it the Wyndham Asset Affiliation Model, takes advantage of the company’s marketing assets, which have suffered as timeshare developers find it more difficult to access credit and capital. The strategy also provides a new option for developers and banks that need to unload long-unsold condo units.
As Franz Hanning, president and chief executive officer of Wyndham Vacation Ownership puts it they can be a good solution for a developer or for a lender that’s foreclosed on an asset, to monetize that asset.
Timeshare operators may have a hard time selling units to consumers up to this day as there are still many owners who want to get rid of such properties. A portion of these owners even hire a timeshare transfer company such as the Transfer Smart. However, the strategy cited above can be a good solution to this and it is sure to get some attention in Las Vegas as timeshare companies will gather for the annual convention of the American Resort Development Association.