Wyndham Worldwide Corp. said it has completed a term securitization transaction involving the issuance of $225 million of investment grade asset-backed notes by Sierra Timeshare 2009-1 Receivables Funding LLC, an indirect subsidiary of Wyndham’s Vacation Ownership subsidiary.

The notes are backed by vacation ownership receivables originated by subsidiaries of Wyndham Vacation Ownership.

Parsippany, New Jersey-based Wyndham Worldwide is a hospitality firm with around 7,000 franchised hotels and around 588,500 hotel rooms worldwide. The company’s Group RCI unit offers its 3.8 million members access to more than 73,000 vacation properties located in around 100 countries.

Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 150 vacation ownership resorts in North America, the Caribbean and the South Pacific.

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Strategic Marketing Specialists Bring User Friendly Website to Tourist Hot Spot
  
Vantage Strategy, a business strategy firm based in Maryland, announced today at the Connecticut Conference on Tourism the launch of a new website for Mystic Country, a tourist destination along the eastern shore of Connecticut.  The new MysticCountry.com website will brand and market the destination to consumers and business travelers with cutting edge technology that makes travel planning more user friendly and cost effective for the destination and its constituents. The website has over 2000 pages of consumer focused content and was designed and created after Vantage Strategy performed an in-depth analysis and developed a strategic marketing plan for the destination. 

“Vantage spent a significant amount of time getting to know our destination and our organization from the inside out, so they were clearly poised to provide the most insightful and strategic implementation of our new website. The site features an itinerary builder to allow travelers to combine the diverse activities and attractions offered by our unique destination,” said Donna Simpson, Executive Director of the Eastern Regional Tourism District. “We are very excited about the vision they brought to this project.”

The main focus of the enhanced site is to introduce visitors to a new image of Mystic Country with comprehensive user friendly itinerary planning tools. “Our goal is to use the website to reposition Mystic Country as the gateway to the New England coastline and countryside and the many treasures the region offers,” said Vantage CEO, Mike Pusateri. “Since the site is the first glimpse many travelers will have of Mystic Country, it’s critical that we give them a positive experience from the minute they enter the site. Our company marries strategic branding with the latest trends in internet technology to give our clients the most intelligent and intuitive site possible.”

The new site will allow all Mystic Country tourism businesses the ability to add information, pictures and special offers to be easily searched and accessed by the traveler. The Mystic Aquarium and Institute for Exploration and Mystic Seaport - the Museum of America and the Sea will be featured as well as offerings of the area’s casinos - Foxwoods, MGM Grand and Mohegan Sun - for entertainment and dining. The site will also highlight the region’s countryside; rich with agricultural, historical and cultural treasures.

Vantage Strategy is a business strategy consulting firm providing customized top-tier sales, marketing, and growth strategies for business of all sizes. Current clients include Orlando, Boston, and Annapolis, to name a few. 

The Mystic Country website was built as a joint project between The Eastern Regional Tourism District, a public sector destination marketing organization representing 42 towns in the region and the Mystic Coast & County Travel Industry Association, a private sector membership destination marketing association dedicated to promoting South Eastern Connecticut and Southwestern Rhode Island as a travel destination. For more information about Vantage Strategy call (202) 449-9708 or visit www.VantageStrategy.com. For more information about Mystic Country, and to view the new website, visit www.MysticCountry.com.

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There are over 1.5 million timeshare owners in Europe and the vast majority *(87%) are happy with their holidays, with almost three quarters thinking that their timeshare accommodation is better than other self-catering holidays they have taken, with quality of accommodation the most important consideration for owners.

This is according to a comprehensive study into timeshare carried out by The Christel DeHaan Tourism and Travel Research Institute at the Nottingham University Business School on behalf of RDO (Resort Development Organisation), formerly known as OTE. The study looked into the industry in detail, analysing what its economic impact is, what owners think of their timeshare and what the industry’s reach is, over 40 years since it was first conceived of in the French Alps.

The results paint a picture of a thriving industry which makes a positive impact on local economies all over Europe. The Timeshare industry generates €3.2 billion of expenditure each year and employs nearly 70,000 people. Occupancy rates are high throughout the year (72%) in Europe’s 1,312 resorts – that’s 67 million bed nights - with owners spending an average of €1,588 per trip on goods and services in the local area: from restaurants, car rental and groceries to souvenirs and clothes.

It is also a form of holiday property ownership for the masses with the average owner’s household income (pre-tax) standing at €60,475; and for people in their mid-life, with the average owner coming in at 55.  The British and the Irish are the biggest timeshare fans, followed by the Germans, Italians, Spanish and French. Spain is the most popular destination with 26% of resorts, followed by Italy (15%) and the UK and Ireland (11%). It’s not all about jetting off though, one third of owners purchase a timeshare in their own country – which shows many want to be able to get to their resort easily.

“Timeshare is a concept that has truly come of age with many thousands of happy owners across Europe”, said RDO Chairman Richard McIntosh. “The quality of timeshare resorts is high which is why many owners see it as superior to other self catering holidays. With exchange options available, owners also enjoy the flexibility of being able to try out resorts across Europe and the rest of the world.”

“This report also highlights the positive impact that timeshare has on local economies. Timeshare is a year round industry with owners as likely to visit in the winter months as the summer, spending money in the local community and providing jobs where they otherwise might not exist”, concluded McIntosh.

Professor Chris Cooper, Director, Christel DeHaan Tourism and Travel Research Institute commented: “This report is essential reading for all involved in the timeshare business, not only does it provide a detailed profile of timeshare owners, but it also examines their future intentions and preferences in the timeshare market place”.

More about RDO
RDO (Resort Development Organisation) is the trade body dedicated to excellence and fair trading in the European vacation ownership industry, whilst promoting and fostering industry growth. As such, it serves its members through public relations, legislative lobbying, research and member and consumer relations management.

Resort Development Organisation AISBL, formerly Organisation for Timeshare in Europe AISBL is an international non profit making association registered in Brussels with company number 0457.984.213.  Its registered office is at Oak House, Cours St Michel 100/3, 1040 Brussels, Belgium

The Christel DeHaan Tourism and Travel Research Institute (TTRI)
TTRI is located in the Business School in the University of Nottingham. The University of Nottingham is one of the UK’s leading universities, a member of the Russell Group of universities and one of the top four universities earning research funding from private industry and commerce. The Business School has been rated as one of the leading research schools in the 2008 UK-wide Research Assessment Exercise

Previous results
*When asked in 2006 whether they were pleased with their decision to buy timeshare 75% of UK owners agreed.

Case Studies – the following ‘excerpts’ represent major developers in some of the key timeshare markets – UK, Portugal and Spain (including the Canaries).

Anfi Group
Anfi Group resorts are located in two main areas of Gran Canaria: Anfi Arguineguín with 4 resorts (Anfi Beach, Puerto Anfi, Monte Anfi and Gran Anfi) and Anfi Tauro (Anfi Emerald).

With occupancy levels in excess of 85% across its luxurious 988 apartments, with the highest rates in October, November, February and March, Anfi’s 1,000 staff service in excess of 30,000 members.

The resorts located in Arguineguín attract many additional visitors through their beach and marina, boosting sales in local shops and restaurants. Tauro Valley which has several golf courses, also brings in many extra visitors to the region, supporting the local economy.

Clowance Estate & Country Club – part of Seasons Holidays Group.
Clowance Estate and Country Club in Cornwall employs over 150 staff in part and full time positions for its 108 unit resort. Clowance has an occupancy rate of 93% - 95% with half its owners on fixed weeks with the rest of the occupants made up of Seasons’ multi destination network. Clowance creates year-round jobs in the resort and indirectly creates jobs in the tourism industry in the local area.  Local shops and restaurants are supported by the resort’s customers all year round, as well as nearby tourist attractions such as the Eden Project.

Club La Costa
Club la Costa employs approximately 1,100 people on the Costa del Sol with an average occupancy rate of 85.2% across its 800 units and has 50,000 owners.

Club la Costa is one of the largest employers on the Spanish coast and the majority of staff come from the local community. It also has a policy of trading with local business people wherever possible.

Gran Anfi Club – part of the Anfi Group
TBC

Hilton Craigendarroch
The Hilton Craigendarroch resort in Royal Deeside is part of the Hilton hotels group. It is a resort of 99 timeshare units and a 45 bedroom hotel. The timeshare units run at 96% occupancy year round and have over 3,800 owners. The resort employs 35 full time and 80 part time staff in addition to 90 people in the hotel. The resort has a big impact on the local community with local restaurants now open all year round. Prior to the opening of the resort there were only two restaurants in the town and now, in part thanks to the resort, there are nine. Guests at the resort support many local traders, including visitor focussed businesses such as galleries and bike hire shops.

Petchey Leisure
Petchey Leisure, one of Europe’s leading leisure groups, has 3 resorts in the Algarve, Portugal, and a total of 850 apartments.  With around 10,000 timeshare owners and excellent year-round occupancy levels, the resorts provide direct employment opportunities to the local community, hiring around 300 staff.  Local businesses, including shops, restaurants, bars and attractions benefit from the money spent by the resorts’ customers. 

Resort Properties
Resort Properties built, sold out and operate 4 prestigious resorts in Europe. The combined Sales, Marketing and Management Team consist of approximately 950 personnel. There are over 1,000 units with an occupancy level of 88%, and a worldwide ownerbase of over 40,000 families.

The resorts are maintained by its Management Company, XL Hotels & Resorts, who employ approximately 600 personnel across their sites.

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The Valley Conservation Council recently awarded Homestead Preserve the 2009 Better Models for Development Award for “Excellence in Historic Preservation” in recognition of its restoration and adaptive reuse of the historic Old Dairy in Warm Springs, Virginia.

“This is a beautiful and comprehensive rehabilitation of a rural agricultural complex,” says Sara Hollberg, Valley Conservation Council (VCC) Planner. “The dairy barns and silos have been an iconic part of the Bath County landscape for generations, and it is wonderful to see their future secured.”

Homestead Preserve completed restoration of the seven 1920s historic structures that now make up the Old Dairy Community Center in 2007, at the cost of about $6 million.  Today Old Dairy is listed on the National Register of Historic Places and is also a designated Virginia Historic Landmark.  The restored agricultural complex has been the recipient of numerous awards and recognitions over the past two years, including an award for Outstanding Adaptive Use from the Association for the Preservation of Virginia Antiquities (APVA) last year and receipt of the 2009 Palladio Award for historic restoration. 

“We are incredibly honored by this award,” says Don Killoren, Co-General Manager of Homestead Preserve.  “To receive recognition from such a respected conservation group as the VCC for our thoughtful development approach and restoration efforts in Bath County means a great deal to us.”

VCC recognized ten projects this year that serve as models for development in the Shenandoah Valley region. All represent ways to grow that respect local character, create livable communities, complement historic resources, and conserve natural assets. The awards include projects from Winchester, Berryville, Woodstock, and New Market as well as Warren, Augusta, Rockbridge, Bath, and Botetourt counties.

“The issue is not whether we will continue to grow, but where and how we want to grow,” says John Eckman, VCC’s Executive Director. “These projects prove that development not only can fit the character of our traditional communities but also add to it.”          

Homestead Preserve developers and Celebration Associates partners Charles Adams and Don Killoren were instrumental in the design and development of Celebration, Florida, near Orlando, which was hailed as the “Most Advanced Community in the Country from 1996-1998” by The Guinness Book of World Records.  Celebration Associates has for the past ten years been a partner in developing the community of Baxter Village in South Carolina, and is also a partner leading the real estate development projects at Bundoran Farm in Charlottesville, Virginia, and the Mt. Washington Hotel at Bretton Woods in New Hampshire.  Crosland, LLC, of Charlotte, NC is a financial partner in Homestead Preserve, Bundoran Farm and Mount Washington Resort. Crosland’s President and CEO Todd Mansfield was also directly involved in the development and success of Celebration, Florida.  Crosland, LLC, is one of the Southeast’s leading and most diversified real estate companies.

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Interval International, a leading global provider of vacation services, announced the promotion of Marcos Agostini to vice president, resort sales and service, Latin America. In this role, he oversees Interval’s presence in Central/South America and Mexico and plays a lead role in building the company’s developer client base in the region. He also serves in the same capacity for Preferred ResidencesTM, a branded membership and exchange program for luxury fractional resorts and private residences clubs.

“It gives me great pleasure to promote Marcos, who is a valued member of the resort sales and service team and has made many significant contributions to our organization,” said David Gilbert, executive vice president, resort sales and marketing, Americas. “He has been extremely successful in expanding our resort network in key markets and I am confident that he will continue to be an important asset to the company in his new role.”

Agostini joined Interval in 1993 in the company’s Venezuela office and since then he has held various management positions of increasing scope. As international member services manager, Agostini oversaw the member services departments of Interval’s offices throughout Latin America, including Mexico, Venezuela, Colombia, and Brazil.  Most recently, he was assistant vice president for Latin America.

He is a member of the board of the Mexican Resort Development Association (Asociación Mexicana de Desarrolladores Turísticos, AMDETUR) and an active participant in the American Resort Development Association (ARDA).

Interval International operates membership programs for vacation owners and provides value-added services to its developer clients worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 33 years. Today, Interval has a network of over 2,400 resorts in more than 75 countries and offers its resort clients and approximately 2 million member families high-quality products and programs through 25 offices in 16 countries. Interval is an operating segment of Interval Leisure Group, Inc. (Nasdaq: IILG), a leading global provider of membership and leisure services to the vacation industry.

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Absolute Group, a hotel management and development company, is investing 570 million baht to develop two projects on its own in Phuket, scheduled to open this year.

The properties are the 300-million-baht Absolute Bangla Suites, with 47 suites and seven penthouses in Soi Bangla, and the 270-million-baht Absolute Beach Resort at Nakalay, with 33 suites and penthouses on Patong Bay.

The company is also co-investing with the ‘yoo’ brand, which is seeking to expand in Asia, to develop a lakeside apartment building worth 1.75 billion baht in Phuket, due to open in 2011.

The 256-room yooPhuket is located near the Red Mountain golf course and is scheduled to launch in September. Absolute Resort Management will manage the property.

Bryan Lunt, Absolute’s chairman, said expanding during the crisis was a big challenge. However, he is still confident in Phuket’s competitiveness, as the island is well-known worldwide even though the global downturn and local political instability have affected Thai tourism.

“Phuket is our main focus as we believe the market has a lot of growth potential in the medium to long term. We’re also interested in Samui and Pattaya, which still have growth,” he said.

yooPhuket’s target customers are foreigners as well as Thais who are looking for a good return on investment and want to live or stay in a high-end resort under an international brand. yooPhuket expects its occupancy in the first year to be at least 85%, Mr Lunt said.

Apart from its own investment, Absolute will manage two resorts: the Absolute Chandara Resort and Spa Phuket and the 100-suite Absolute Sansabai Resort and Spa. Its portfolio includes the 54-room Absolute Sea Pearl Resort and Spa in Patong and the 30-room Absolute Patong Villa Resort and Spa.

The company has budgeted 200 million baht this year for operations, human resources and marketing for properties planned to open this year.As well, it is expanding its vacation ownership business by opening two new sales offices in Bangkok and another one in Teheran. The Middle East is expected to be a growing market and more offices are planned.

The company said Thai buyers of its Absolute Vacation Club were growing in number. It sold more than 100 memberships in the first month of operations.

Source: Bangkok Post - http://www.bangkokpost.com/business/tourism/17001/absolute-plans-two-sites

http://www.theperspectivemagazine.com/absolute-plans-two-sites-in-phuket

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Sell My Timeshare NOW, the global leader in the advertising and marketing of timeshare resales and timeshare rentals, has expanded its sales management team with the hiring of Senior Director of Sales, Bonnie McLoud. CEO Jason Tremblay says, “Bonnie brings executive leadership skills in internet advertising, e-commerce, sales, and customer service to our company and our sales floor team.”

Bonnie McLoud - Senior Director of Sales

Rosanne Luba - Director of Sales

Previously the General Manager of American Passport Express, a division of CIBT and the world leader in providing travel documents, Bonnie McLoud was responsible for the internet advertising campaigns at American Passport Express, the company’s large call center, and its e-commerce platform for customers ordering passports and visas. Bonnie is a past Vice President of Burst Media where she managed online advertising campaigns for nationally recognized brands. “I am enthusiastic about being a part of a company that has, in a very short time, redefined the way people buy, rent, and sell timeshare,” McLoud says.

Jason Tremblay explains that because Sell My Timeshare NOW is in an aggressive growth phase, increasing both services and products, the sales management team needed to expand as part of the process. Some of Sell My Timeshare NOW’s critical growth projects include implementing new CRM (Customer Relationship Management); revamping the company’s entire training program; and developing an on-going coaching program for reps, all projects on which Sell My Timeshare NOW’s Director of Sales, Rosanne Luba, as well as McLoud, will focus. Luba says, “Expanding our sales management team is very exciting and will enable Sell My Timeshare NOW to achieve standards of excellence rarely seen in business today.”

About Sell My Timeshare NOW
SellMyTimeshareNOW.com, the company’s flagship website, offers internet advertising and marketing solutions and success-based timeshare brokerage services for timeshare owners. The timeshare company was recognized in 2008 by Inc.com as one of the fastest-growing privately held companies in America.

Contact:
Steve Luba (media)
Phone (603) 516-0649
steveluba@sellmytimesharenow.com

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Drake & Scull International PJSC has been awarded the Dhs226m Mechanical, Electrical & Plumbing contract for the Kingdom of Sheba development on Palm Jumeirah, bringing the total value of its contracts on the Palm Jumeirah to over Dhs1.4bn.

With this contract, DSI is now working on six separate projects, covering a total built up area of 1.2m square metres, on the Palm Jumeirah, making it the largest MEP contractor on the island.

Kingdom of Sheba is a mixed-use residential and leisure luxury resort located on the crescent of Palm Jumeirah in Dubai. The resort is the largest resort IFA Hotels & Resorts is developing. DSI have been awarded the contract for the first phase of the development which consist of the residential component (Balqis Residence) and the Private Residence Club (Fairmont Heritage Place, Kingdom of Sheba).

This is the fourth Project IFA Hotels & Resorts has awarded DSI.

DSI Vice Chairman and CEO Khaldoun Tabari added that his company is in a unique position at the moment.
‘There are still a lot of opportunities in the construction industry in the UAE, and DSI is well equipped and has the capabilities and resources to take on mega projects, and deliver as per the client’s requirements of time, cost and quality. The expertise we gained in the UAE in over 40 years as a specialist MEP contracting company, combined with our cash rich position ensures we will continue to meet all our projects’ requirements,’he said.

In the second quarter of 2008, DSI became the largest MEP contractor on the Palm Jumeirah after winning contracts for Fairmont Palm Hotel and Resort, an IFA Hotel and Resort project, and Royal Amwaj Resort and Spa.

DSI’s contract with Kingdom of Sheba incorporates the supply, installation, testing and commissioning of complete MEP works including: Air Conditioning, Ventilation, Plumbing and Drainage, Building Management System, Fire Fighting, Power, Telephone and Data, Fire Alarm System, Intercom System, Central Emergency Lighting, CCTV, Access Control Security Systems, PA/BGM System & Lighting Control System.

DSI is a leading UAE-based end-to-end service provider of MEP contracting, infrastructure, water and power (IWP) and civil contracting services. On March 16 2009, DSI became the first specialist contracting company to list on the Dubai Financial Market (DFM) and is currently working on projects across the MENA region with a total value reaching approximately Dhs6bn.

http://www.theperspectivemagazine.com/drake-and-scull-international-wins-dhs226m-contract-on-palm-jumeirah

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Trading Places International was recently awarded the management contract for Barefoot Resort in Lead, South Dakota, an old mining town in the Black Hills region. Trading Places will service all reservations, rentals, exchanges, sales and association financial services of the resort. Trading Places is pleased to welcome Barefoot Resort - the only timeshare property in South Dakota - into their expanding family of resorts.

“We’re very excited about the acquisition of a resort in the beautiful Black Hills of South Dakota,” said Douglas L. Wilcox, Vice President of Resort Management. “This new vacation destination will be a wonderful addition to Trading Places’ growing mid-west family of resorts.”

Barefoot Resort sits at an elevation of 6,500 feet and is located directly across from South Dakota’s major ski area, Terry Peak, and just 37 miles from Mount Rushmore. The resort is a 44-unit timeshare property offering studios, one, two, and three-bedroom units. Amenities include an indoor pool and hot tub, exercise equipment, basketball, volleyball, and tennis courts, and spectacular views of the northern Black Hills.

Trading Places International is a 36-year veteran of the travel and vacation ownership industries.  It is the only vertically-integrated, independent timeshare company providing full service resort management, exchange and rental services, and travel agency. It currently oversees more than 55,000 timeshare owners at over 30 resort locations in Hawaii, Mexico, South America, the Caribbean and mainland United States.

http://www.theperspectivemagazine.com/trading-places-signs-new-contract-for-management-in-the-black-hills-of-south-dakota

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After joining Karma Royal Group in September 2008 as Consultant Chief Financial Officer, KRG is pleased to announce such appointment has now become full time.

Gary has had significant experience in various leadership roles across multiple business sectors and geographic regions. His base knowledge is foundered on a chartered accountant’s qualification and he has held senior leadership roles as CFO, Executive Director - Group Development, CEO and Managing Director, Group CEO, Chief Operating Officer and Corporate Advisor.

Gary’s exposure to mergers and acquisitions, post acquisition integration and leveraging the best out of multiple acquisitions is seen as a core strength, together with his ability to cut across multiple business models and geographical regions. Gary has had success as a key member of a number of executive teams where growth targets and core objectives have been achieved and surpassed for sustained periods.

A proven track record in;
- ensuring financial health of entities,
- identifying and leveraging new opportunities,
- negotiating and closing appropriate deals,
- relationship building,
- business turnarounds,
- being part of and leading high performance teams,
- strategy formulation and execution of business plans and objectives, and
- experience across multiple geographic regions,
are seen as key strengths and we believe will provide a positive contribution at a strategic level to the focus and delivery of our vision.

Prior to joining the Karma Royal Group as Chief Operating Officer, Gary held the position of Group Chief Executive Officer for Roamfree Limited, an internet infrastructure business providing online solutions for accommodation providers and inventory aggregators.

Prior to joining Roamfree Limited, Gary enjoyed a 10 year career with, now Wyndham Worldwide’s Group RCI. Gary has held various roles with the NYSE listed company, but the most recent saw him hold the position of SVP and Managing Director for the Africa and Pacific regions for Group RCI.

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