Despite the many owners trying to get out of their timeshares today, timeshare operators are still positive about the future of this industry. As a matter of fact, they are bringing this kind of business to other parts of the world. Just like in Bangladesh, it was announced that their first eco-friendly five-star hotel will start operations in Cox’s Bazar in early 2012. The Sea Pearl Beach and Spa, being built on seven acres at Inani, 20 kilometres away from Cox’s Bazar, is based on the timesharing concept. The timesharing model will allow the members of a hotel to swap or exchange time with another affiliated hotel or resort anywhere in the world depending on the availability.
It is estimated that the cost of the Sea Pearl project is at Tk 143 crore, with Prime Bank raising Tk 85 crore in syndicated funds. On the other hand, Shamim Enterprise that owns Sea Pearl will finance the rest. According to Aminul Haque, managing director of the hotel, they have started a marketing campaign to get timesharing members. The company says Sea Pearl will be the real eco-friendly green resort in the country which will provide a pollution-free environment for visitors.
Meanwhile, Md Atoar Hossain, vice president of Sea Pearl stated that waste and water from the hotel will be recycled and it will use solar power. The hotel has been affiliated also with Interval International, a timeshare exchange company, based in Miami. Thus, members of Sea Pearl will be able to use the facilities of Interval International-affiliated 2,500 hotels in 75 countries. He further added that a membership contract will be valid for 20 years and a member will be given seven days to spend in any Interval International-affiliated vacation resort every year.