Wyndham vacation OWnership Expands Presence In Steamboat Springs, Colorado

Company expands resort offering in the popular mountain destination

Wyndham Vacation Ownership adds to its portfolio of resorts in Colorado with the opening of Wyndham Vacation Resorts Steamboat Springs and the expansion of its established WorldMark Steamboat Springs property. These additions to the company’s FairShare Plus by Wyndham and WorldMark, The Club portfolios add 142 units to the popular resort complex. Located in Ski Town, U.S.A.®, the company’s Steamboat complex is within minutes of the area’s numerous ski slopes, trails and hot springs.

“Steamboat Springs is one of only a few destinations where we have established resorts under both our WorldMark by Wyndham and Wyndham Vacation Resorts brands, which demonstrates the popularity of this destination among our more than 800,000 owner families,” said Gary Byrd, executive vice president, Hospitality Services, Wyndham Vacation Ownership. “We’re thrilled to expand our presence in one of the most renowned ski areas for families in the country.”

The new Wyndham Vacation Resorts Steamboat Springs’ design reflects the character of the area by incorporating rustic wood elements and deep earth tones throughout the interiors of the mountain-themed resort. The resort includes a mix of 71 spacious one-, two- and three-bedroom units in addition to two- and three-bedroom Presidential units. The WorldMark Steamboat Springs expansion features its own unique design and also includes 71 one-, two- and three-bedroom traditional units as well as two- and three-bedroom Penthouse and Presidential units. The beautifully appointed units at both resorts include such amenities as a full kitchen, living room, entertainment center and gas fireplace.

The complex includes a number of amenities for owners to share. After a day of skiing the surrounding slopes, mountain biking on nearby trails or rafting the Yampa River, owners and their guests can relax in the resort complex’s lounge area, game room, steam room, sauna, outdoor spas and indoor and outdoor pools. For those looking for even more active adventures on site, the complex has an arcade, sports court and playground to enjoy.

Situated in the heart of skiing country, Steamboat Springs is a year-round destination with the tradition of the Western United States matched with beautiful scenery and numerous outdoor activities. Recently named the “#1 Family Ski Resort in the West” by SKI Magazine, Steamboat Springs is an ideal destination for skiing, tubing, snowmobiling and snowboarding as well as hiking, mountain biking and fly fishing. Visitors can explore several natural hot springs throughout the area or, for a change of pace, visit the town’s charming shops and restaurants.  

Including both resorts in Steamboat Springs, Wyndham Vacation Ownership now has five resorts located across Colorado. The Steamboat Springs properties join resorts in Durango, Estes Park and Pagosa Springs.

About Wyndham Vacation Ownership
Wyndham Vacation Ownership, a member of Wyndham Worldwide’s (NYSE: WYN) family of companies, is the world’s largest vacation ownership business, as measured by the number of vacation ownership resorts, individual vacation ownership units and owners of vacation ownership interests.  Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its three primary consumer brands, Wyndham Vacation Resorts, WorldMark by Wyndham and Wyndham Vacation Resorts Asia Pacific.  As of December 31, 2007, Wyndham Vacation Ownership had developed or acquired approximately 145 vacation ownership resorts throughout the United States, Canada, Mexico, the Caribbean and the South Pacific that represent more than 17,500 individual vacation ownership units and more than 800,000 owners of vacation ownership interests. Wyndham Vacation Ownership is headquartered in Orlando, Florida, and is supported by more than 17,700 employees globally.

Travel Advantage Network Supports The MISS Foundation During Difficult Economic Times

Travel Advantage Network (TAN), a nationwide leader in wholesale vacation accommodations, has reached out to The MISS Foundation in support of families who have lost a child from any cause such as Sudden Infant Death Syndrome (SIDS) or a congenital heart defect.  The MISS Foundation is an international, non-profit organization which provides immediate and ongoing support to grieving families, empowerment through community volunteerism opportunities, public policy and legislative education, and programs to reduce infant and toddler death through research and education.  TAN held raffles and received contributions from company employees, raising $750, despite difficult economic times.

“I couldn’t be more proud of our TAN family and how month after month they reach out to support causes such as The MISS Foundation,” said TAN President Brad Callahan.  “Each month one of TAN’s employees chooses a charity and leads employee efforts to raise money, donate time and participate in events in support of worthy causes.”

TAN’s efforts to support The MISS Foundation were led by employee Teresa Jeffrey.  “Since I’ve had my daughter, The MISS Foundation has become dear to my heart,” said Jeffrey.  “It is important for people to understand how they can become involved and build awareness for causes of death among children, as well as how they can support research to prevent it.”

In addition to TAN’s support of The MISS Foundation, in 2008 TAN employees have raised and donated thousands of dollars to help in the fight against juvenile alopecia areata, muscular dystrophy, congenital heart defects, autism, arthritis and child hunger.

ABOUT TRAVEL ADVANTAGE NETWORK (TAN)
Since 1992, TAN, a wholesale priced vacation accommodations program, has helped families and individuals create lifelong vacation memories. TAN is the proud recipient of the Better Business Bureau of Maryland’s prestigious Torch Award for exemplifying high business standards and professional integrity and the Maryland Chamber of Commerce’s Philanthropy in Business Award for outstanding and innovative commitment to local and national charities. TAN is a recipient of Baltimore CEO Magazine’s 2008 Future 50 Award, recognizing the fastest growing companies in the greater Baltimore area. TAN was the only travel company to make this year’s Future 50 list.  To learn more visit www.planwithtan.com.

2009 Ragatz Associates Ninth Annual Fractional Interest Conference to be held March 9-11 in San Francisco

Resort Real Estate Event Will Emphasize Improving Business Performance in a Down Economy

San Francisco, Calif.  (November 20, 2008) – Registration is now open for the 2009 Ragatz Associates Ninth Annual Fractional Interest Conference to be held March 9-11 at The Fairmont San Francisco.

This year’s conference will emphasize the conduct of business in the fractional interest industry in a down economy.  Critical topics of discussion will include:

• Results of the Annual State-of-the-Industry Research
• How Affluent Consumers Make Decisions
• How Some Fractional Interest Projects Continue to Make Sales
• Innovative Marketing and Sales Strategies in a Down Economy
• The Search for Financing
• Is Your Troubled Resort Development Appropriate for Fractional Interests?
• Insights and Advice from Industry Leaders

The conference should be of interest to companies already in the fractional interest industry (including private residence clubs and destination clubs), as well as to companies considering entering the industry.  As in the past eight annual conferences, it will include formal presentations as well as a series of small group break-out sessions.

The conference will feature presentations from over 60 speakers, including ones representing the land development, hotel, finance, legal, computer and public media industries.  Confirmations have been received, for example, from representatives of Hyatt, Fairmont, Timbers Resorts, Preferred Residences, The Registry Collection, The Robb Report, Luxury Institute, The Harrison Group, The Little Nell, East West Partners, CapitalSource, the American Resort Development Association, etc.  Almost one-half of the presenters will be first-time speakers at the conference.

Additionally, results from the 2009 Edition of Ragatz Associates State of the Fractional Interest Industry will be presented, providing the most up-to-date findings available about fractional projects in the United States, Canada, Mexico and the Caribbean. The report will be available for purchase. Current research on affluent consumers also will be presented.

Almost 25 companies once again support the conference via being Sponsors.  Included at the Platinum level are Ballard Spahr, Baker Hostetler, DCP International, Preferred Residences and The Registry Collection.  At the Gold level are ARDA, LaTour Signature Group, Star Resort Group, Weinstock & Scavo, Greenberg Traurig, Sirkin Paul Associates and Luxury Fractional Guide.  Others are at the Silver and Media levels.

Registration for the conference is $950, or available at a discounted price of $850 if purchased before January 12th. Group discounts of up to 50 percent are also available.

For questions and registration information, visit ragatzassociates.com.
Contact Sarah Winter at 541-686-9335 or info@ragatzassociates.com.

About Ragatz Associates
Ragatz Associates is recognized as the leading consulting and market research firm in the resort real estate industry on a global basis. The firm has conducted more than 2,500 studies in over 70 countries since being formed in 1974. It specializes in feasibility analysis and consumer research.

Perspective Magazine Adds Ragatz Associates Ninth Annual Fractional Interest Conference To Its Convention List

Perspective Magazine, the award winning and “most read” independent B2B publication for the timeshare and fractional ownership industry globally has confirmed that the Fractional Interest Conference by Ragatz Associates will join no less than 15 other conventions to be promoted and reviewed in 2009.

“Ragatz Associates is pleased that Perspective Magazine will be covering our 9th Annual Conference on Fractional Interests to be held in San Francisco on March 9 to 11, 2009.” Said Dr. Richard L. Ragatz, Ph.D.

“We are equally pleased to add this long running event to our convention circuit and look forward to attending the conference in March” said Paul Mattimoe, CEO, Perspective International Ltd, “We will be promoting the event through our various channels, holding an exclusive interview with Dr. Richard L. Ragatz, Ph.D. and of course reviewing the conference itself.”

For more information on the conference visit ragatzassociates.com

Perspective Magazine so far have confirmed distribution of their publication to all delegates at no less than 15 major industry conventions around the globe for 2009 and still remains free of charge for industry professionals – visit www.theperspectivemagazine.com for more details and to order your copy.

For advertising information visit www.perspectiverates.com

The Abaco Club On Winding Bay Opens New Fractional Ownership Residences

ABACO, Bahamas, Nov 18, 2008 /PRNewswire via COMTEX/ — The Abaco Club on Winding Bay, A Ritz-Carlton Managed Club announces the opening of its initial phase of Ritz-Carlton Club fractional ownership residences. This secluded residential development and sporting retreat known for golf, beach and boating pursuits, now offers five newly-renovated cabanas to fractional ownership Members.

“The opening of The Ritz-Carlton Club, Abaco is a great achievement for us,” said Scott Bragg, managing director of The Abaco Club. “As we work to fulfill the vision of The Abaco Club, this is a significant milestone for the property.”

Situated on the opening holes of the 7,183 yard / par 72, Scottish-style links golf course designed by Donald Steel and Tom Mackenzie, the cabanas are adorned in the vibrant colors of blue, turquoise, orange, coral and soft neutrals - a color palette inspired by Abaco’s surrounding seas, sunsets and white, sandy beaches. Bamboo flooring throughout the cabana leads Members through French doors to a screened-in and furnished porch which boasts views of the golf course.

Each cabana provides a master bedroom with a king bed and a walk-in cedar closet. Additionally, a sitting area with sleeper sofa and lounge chairs, 42-inch plasma television, Bose sound system with DVD and CD players, desk and chair, marble-topped wet bar and under-the-counter sub-zero refrigerator/ice maker, and complimentary Wi-Fi access complete the experience. The cabanas provide approximately 570 square feet of living space.

As a points-based membership approach, Members receive points annually for use toward their vacations in Abaco. This approach provides increased flexibility as each Member can select the travel dates and residence floor plan best suited for their stay.

With pricing starting at $110,000, there are three membership options:
    –  Select Membership - 500 points
    –  Preferred Membership - 1,000 points
    –  Premium Membership - 1,500 points

A second phase of fractional residences is scheduled to open in February, ultimately offering 16 homes in the program.

About The Ritz-Carlton Club
The Ritz-Carlton Club is a deeded, fractional ownership real estate offering combining the benefits of vacation home ownership with personalized Ritz-Carlton services and amenities. For information, visit www.ritzcarltonclub.com.

SOURCE The Ritz-Carlton Club
 http://www.ritzcarltonclub.com

http://www.fractionalownershipmagazine.com/the-abaco-club-on-winding-bay-opens-new-fractional-ownership-residences/

Tempus Resorts International Donates $30,805 To The American Cancer Society

Tempus Resorts International today presented the American Cancer Society with a donation of $30,805 as a result of the company’s recent “Pink Ribbon” fundraising events in support of the American Cancer Society’s “Making Strides Against Breast Cancer” annual campaign.

Tempus Resorts’ month-long fundraising efforts included a variety of employee activities to raise money and awareness about the need for continued support of breast cancer research. Fundraising activities included bake sales, themed lunches, commemorative pink ribbon sales, “pink and blue jeans days”, and other events.

The campaign culminated in the company’s fourth annual “Pink Ribbon Golf Classic” on October 17, 2008 at Mystic Dunes Golf Club, part of the Mystic Dunes Resort & Golf Club which is owned and operated by Tempus Resorts. Sponsored by Winter Park Construction and with the generous support of many of the company’s business partners and vendors, the tournament provided participants a great day of golf followed by a reception and silent auction.
“We are proud of our company’s commitment to community service, and we look forward to continuing our support of the American Cancer Society and other causes that touch the lives of so many here in the Central Florida community”, said Roger Farwell, President & CEO of Tempus Resorts International.

Tempus Resorts’ “Pink Ribbon” campaign has become one of the company’s signature annual community service initiatives, with over $100,000 donated to the American Cancer Society since the inaugural campaign in 2005.

About Tempus Resorts International, Ltd.
Established in December 1997, Tempus Resorts International, Ltd. is a customer-focused vacation ownership development and management company based in Orlando, Florida. Tempus is a multi-faceted enterprise comprised of ten distinct companies which support its resort and golf development, hospitality operations, and marketing, financial and technology services. Built on a solid foundation of strong and experienced management, industry-leading
systems and technology, compelling products, and a diverse team of talented, committed employees, Tempus has delivered memorable vacation experiences to over 650,000 owners and guests. Tempus is an active member of the American Resort Development Association and the Interval International exchange service network, which has designated Mystic Dunes Resort & Golf Club, Tempus’ flagship Orlando resort, as a “Premier Resort”, its highest level of recognition.
www.tempusresorts.com www.mystic-dunes-resort.com www.mysticdunesgolf.com www.backstageresorts.com

Defender Resorts Is On The Move Again

Defender Resorts, Inc. announced on November 1st, 2008, that they have been awarded the management contract for Ocean High Resort, Ocean City, Maryland

“We are very excited to be working with such a fine Board of Directors and we are looking forward to a long relationship, said Mr. Frank Baker, Defender’s Executive Vice President for Development.

Ocean High was developed in 1982 in Ocean City and is ideally located on the bayside with some of the units over looking the water.  The resort offers spacious two and three bedroom accommodations.

Defender, established in 1979, is headquartered in Myrtle Beach, SC and manages 17 resorts including resorts in Massachusetts, Delaware, Maryland, South Carolina, Florida and the Grand Cayman Islands.  They have established themselves over the years as a leader in vacation ownership management, resales and rentals.  Defender is large enough to provide a multitude of services, but small enough to respond to a resort’s needs quickly.  For more information on Defender Resorts contact Frank Baker at 1-800-799-0798 or log on to www.defenderresorts.com.

Intelity’s ICE, The Edge a Timeshare Needs to Score Sales Conversions

While timeshare and fractional developers across America complain about the lack of available financing, a wobbly economy and general financial uncertainty heading into 2009, one of the travel industry’s better-kept secrets is that the timeshare and fractional side actually sees things looking up.  The launch of ICE — a revolutionary in-room concierge and back-end monitoring system is the vehicle needed to drive guest experience, service, and personalization in the timeshare and fractional space. ICE creates a way to connect with guests during their entire stay, and this real-time capture equates to incremental timeshare sales at a reduced marketing cost.

The total timeshare market, heading into 2009 is estimated at more than $12 billion. But, like the housing market, the timeshare industry is going through a hard reset. The key to standing out in this growing field is competitive differentiation and giving potential buyers what they want, when they want it. And, what do timeshare members want? According to the Travel Monitor(sm) for Interval International’s report titled, “Future Timeshare Buyers: 2008 Market Profile,” timeshare buyers are desiring, “personalization and customization … and more consumer choices overall so they can select what best fits their needs.”

The timing is perfect for Intelity, an interactive hospitality technologies company, to unveil the ideal product to maximize all guest activity with the simple touch of a button? ICE allows timeshare management to tailor a guest’s experience to their desires without even being at the facility. Timeshares now more than ever must cater to the needs of the members.  ICE provides an easy, seamless interface for timeshare members to arrange services outside the unit and take the decision making challenge out of the vacation experience, allowing the member a more enjoyable experience with quick and complete service.

Developed by a team of technology pioneers, led by hospitality industry expert David Adelson, ICE was tested and developed for more than three years and readied for release just as hoteliers and timeshare management were facing the struggles of an economic downturn.   “Timeshare developers are most sensitive now to the necessity for them to develop more cash-producing products and services to lessen the financial pressures of this financing-dependant industry,” notes Joe Cervasio of Bluegreen Corporation, a 36 year resort development industry veteran with time spent at Boise Cascade Recreation Communities, Dunes Marketing Group of Hilton Head, the Rank Group of London and Marriott Vacation Club International, “Now ICE has arrived as their first opportunity to continue to lift their services to their guests and prospects, while increasing cash flow and market penetration to future sales.” To provide this needed boost ICE can generate increases in cash revenues through room service upgrades, vendor referral fees and added tours.”

ICE’s setup and upfront cost is minimal and can be easily built into the timeshare’s point of sale system. In a matter of weeks, ICE can provide timeshare staffers with up-to-the-minute information for more cost-effective operations. By including a 19-to-22-inch touch screen in every guest room — customized to the specific timeshare brand — amenities are front and center for guest exposure from the second they enter the room.  From the timeshare operator perspective, the organizing and tracking of customer service and sales interface that ICE provides is essential to lifting efficiencies such as tour penetration and volume of sale per guest.  Current timeshare operators try to connect with guests via the in-room phone and generally connect only 20% of the time. Through ICE, interaction is increased by guaranteeing that a guest is in-room for a call, allowing operators to increase guest participation in timeshare tours. This incremental tour increase is hugely significant to timeshare management. In addition, ICE can sort and target guest messaging along with tour offers by rate code and length of stay. Guests can even book tours directly in the system. Because of all these benefits, Intelity predicts a 5% increase in total timeshare tour conversions with the use of ICE.

Guests also input a text number which allows strategic mobile messaging to ensure tour confirmation and show rate. The system can send timeshare-wide messages in a second and help streamline operations to a point where management can increase revenue and efficiency at the same time, allowing concierges to intercept guest requests and cross-promote (offering tours, etc.) when appropriate and relevant.

Finally, the back-end Quality Assurance Solution portion of ICE may be the most significant feature to timeshare owners. Through careful examination of daily data, the timeshare manager can reduce or completely eliminate unnecessary expenses. Also integrated into the property’s point of sale system, the Quality Assurance program can track all activity and measure it with three-dimensional charts, graphs and spreadsheets. Budgetary decisions have never been so clear-cut before.

The benefits and ROI that ICE can provide to a timeshare are astonishing. With ICE, hotels and timeshares can market directly to guests in multiple ways with trackable return. This will lead to better allocation of marketing dollars, additional psychographic data and higher guest interaction.

For an on-screen demo and more information, visit www.intelityICE.com. Interested hoteliers and timeshare managers can call toll free 1-888-REV PAR 1 to speak with an ICE hospitality expert for more information on sales, prices, and exciting upcoming ventures.

About Intelity Corp:
Intelity, headquartered in Orlando, Florida, is a hospitality software solution company focused on the self-service marketplace. Founded in 2006, Intelity is establishing itself as the leader of in-room guest service technology, quality assurance feedback, and direct consumer marketing within the hotel and resort segments. The Company’s current and future success is driven by four fundamental values: Be creative and innovate; aim for product excellence; elevate the image of our brands with passion; and be an entrepreneurial organization. Intelity is moving toward realizing the strategic goal of brand and product diversification by leveraging business relationships and opportunities with global hotel brands and management companies.

http://www.timeshareperspective.com/intelitys-ice-the-edge-a-timeshare-needs-to-score-sales-conversions/

Sandcastle & Southgate Resorts Select SPI Orange Systems ResortSuite Software

Miami, FL, November 18, 2008 - SPI’s latest product - Orange Systems™ ResortSuite - was recently purchased by New England Vacation Management (NEVM) for two of their projects, Sandcastle Resort and Southgate Resort & Club. ResortSuite’s reservations, maintenance dues billing and other property management functionality is deployed over the Internet and costs a fraction of the Enterprise software system.

“We strictly needed resort management tools for these projects and didn’t require other parts of a full-service system, such as sales and marketing,” says NEVM President Cliff Hagberg. “Orange Systems™ ResortSuite gives us powerful management tools we need that are really easy to use and with an extremely affordable price tag. It’s truly an elegant solution for us, since there is no need to take our resorts down for a massive conversion effort. Plus, we don’t need to worry about additional programs absorbing bandwidth, purchasing additional servers, etc.”

“Now that our team has completed development of ResortSuite, which provides low-cost management software for smaller resorts via the Internet in a live, real-time environment, we are happy to see it is being enthusiastically accepted by the marketplace,” says SPI Director of Sales Matt Brosious. “It is the perfect, low-cost solution for the resort operator who wants robust software to handle the full range of management solutions.”
 
About SPI
SPI provides major developers of vacation ownership (timeshare, fractional, private residence club and others) with its .NET-based software as either an enterprise suite of software called Orange Systems, or in specific modules to handle marketing, sales, property management, finance, maintenance fee and receivables servicing, centralized reservations or Website access operations. Founded in 1978 and based in Miami, FL, SPI can be reached at 305-858-9505, sales@spiinc.com or www.spiinc.com.

About New England Vacation Management
New England Vacation Management, based on Cape Cod, Massachusetts, provides full-service resort management services, principally for timeshare projects no longer in active sales. These services include human resources, centralized reservations and on-site management, including HOA and owner services such as rentals and resales. NEVM’s two properties mentioned above, located in Massachusetts, are Sandcastle Condominiums in Provincetown and Southgate Resort & Club in Mashpee.

Researcher Predicts Luxury Fractionals Will Be The First To Emerge From The Downturn

The luxury fractional segment of the vacation home (www.dcp-international.com) market will be the first to rebound from the current real estate morass, according to Dr. Richard Ragatz, well-known real estate researcher.

“The fundamentals of the vacation home market have changed,” Ragatz stated. “The days of buying a three-million-dollar house on the beach or at a ski resort with the expectation of 20% annual appreciation are gone for the foreseeable future.”

Ragatz noted that most luxury vacation homes sit empty for the majority of the year. “In the past, owners could justify the high cost and low utilization based on a significantly higher re-sale price,” he said. “Based on recent events, it’s difficult to imagine that scenario continuing in the next few years.”

The top-tier fractional products are known as residence clubs (www.dcp-international.com). These clubs typically are expensive resort developments in which six to ten households share ownership of each residence. A club staff cares for the property and provides hotel-like services. Club reservation policies dictate use — which is unlimited, subject to use by other owners — much like tee time privileges at golf country clubs.

Dr. Ragatz and his Eugene, Oregon-based company, Ragatz Associates, have tracked the resort real estate market for many years, especially the fractional ownership (www.dcp-international.com) segment. He noted that fractional sales have increased dramatically during the past five years and grew in 2007 despite the real estate downturn. However, he expects these sales to be off in 2008.

“The financial crisis has affected every part of the real estate market,” Ragatz said. “But I believe, in the long term, recent events will enhance the attractiveness of the high-end fractional products as compared to whole ownership.”

Ragatz’s statements are echoed by Steve Dering, a pioneer of the residence club industry.

Dering is a partner in Chicago-based DCP International, a firm that has assisted real estate (www.dcp-international.com) developers in bringing more than 20 residence clubs to market in the U.S., Mexico, Bermuda, Italy and Scotland. Locations include ski, beach and golf resorts as well U.S. and European urban locations. DCP’s first project, the Deer Valley Club in Park City, Utah, opened in 1992 and has served as the prototype for the industry.

“There’s no question that our sales have slowed during this downturn,” Dering said. “However, we are now in conversations with developers, banks, and buyers of distressed properties who are positioning themselves for the turnaround.”

Dering believes there are multiple reasons why his specialized product will be the first to rebound.

“Affluent households will always want a vacation home,” Dering said. “Research shows it’s second only to college educations for their children as the most desired, big-ticket discretionary expenditure.”

“Our clubs, on average, have eight owners per residence and are designed to provide the amount of vacation time that is typical for a homeowner in the same location,” he stated. “Therefore, the use is the same as whole ownership but the purchase price is far lower. Additionally, the shared annual ownership cost is significantly less than the cost of renting a comparable luxury home multiple times a year. When you factor in the abundant amenities and a private staff that takes care everything, it’s more for less without the headaches.”

“The game changer for us as compared to whole ownership is that our buyers do not have to sell other real estate to purchase at a residence club,” Dering said. “And many do not have to finance, although financing is still available.”

Dering said the increasingly influential “green” movement is also pushing buyers his way.

“Residence club owners buy only what they need,” Dering noted. “We build one residence and satisfy eight families rather than building eight residences that would sit empty 70% of the year. We eliminate waste and have owners who feel they made the right financial and environmental decision.”

Source: http://www.thetimeshareblog.com/researcher-predicts-luxury-fractionals-will-be-the-first-to-emerge-from-the-downturn/

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