A New “Perspective” On Sales & Credibility For Timeshare & Fractional Property Developers

An incredibly simple, but powerful sales and credibility tool based on Owners Perspective Magazine, the leading consumer publication for the shared ownership industry has been unveiled for timeshare and fractional property developers.

Check out our new Media Center for more information at:
www.perspectiverates.com

Once logged in, just click on The Developer Package tab from the navigation bar.

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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Perspective International Sponsors C.A.R.E.’s 50th Semi-Annual Conference

C.A.R.E. (Cooperative Association of Resort Exchangers) is pleased to announce that Perspective International Ltd is a media sponsor of its 50th Semi-Annual Conference, which will be held April 24 through 27,2010, at the Hilton New Orleans/St. Charles Avenue in New Orleans, Louisiana.

“In these trying economic times a nonprofit organization such as the Cooperative Association of Resort Exchangers, C.A.R.E., must consider every tool available to spread its message,” says Alain Carr, president of C.A.R.E. “Perspective International, a C.A.R.E. media sponsor, provides our association with advertising opportunities to remind current members of the value of belonging to C.A.R.E. and to inform potential new members of the benefits of membership. C.A.R.E. and its members benefit from advertising in Perspective International by keeping our association at the forefront of the vacation travel industry.”

This 50th semi-annual conference will offer powerful sessions with motivational and informative speakers ready to share their wisdom and insight. Those attending event will not only get to experience one of the U.S.’s most desired vacation destinations, but they also will get to meet up with numerous industry suppliers and purchasers. This is a don’t-miss opportunity to re-connect with old associates and even develop new relationships to provide the tools needed to succeed in this ever-changing, multifaceted, vacation industry.

“Perspective is delighted to be a media sponsor for this conference,” says Paul Mattimoe, president and CEO of Perspective International Ltd. “C.A.R.E. nicely fills a niche in the shared-ownership industry that serves resort developers and, ultimately, owners of vacation interests.”

The Hilton New Orleans St. Charles is located in the heart of the New Orleans Central Business District, three blocks from Canal Street and blocks from the world-famous French Quarter and Bourbon Street. The landmark building was originally built in 1926 as the Masonic Temple and was the second high-rise building to be constructed in the Central Business District. It has undergone an $11 million renovation and has re-emerged as the newest upscale, premier hotel experience in the Crescent City.

For room reservations, call: 1-888-490-6547 or 1-504-524-8890.

About Perspective International Ltd
Perspective International Ltd is an award-winning leader in cross media marketing/advertising for the timeshare and fractional ownership industry, dedicated to catering for the individual needs of your brand, product, service, clients, customers and employees through a suite of unique publications, websites and services.

For more information, call 1-407-792-2343 or visit www.perspectiverates.com.

About C.A.R.E
C.A.R.E. is a trade association established in 1985 by representatives of timeshare resorts who found that by exchanging vacation inventory among themselves, they were better able to satisfy their owners with increased vacation opportunities. Today, member companies are also able to utilize inventory and generate revenue through wholesale rentals while continuing to offer expanded exchange and fulfillment options.
C.A.R.E. is not an exchange company, it does not own or control inventory or guarantee fulfillment of travel requests, and/or rental or sale of any type of inventory, service or product. C.A.R.E. provides a networking platform that offers the tools for individual business enhancement while requiring its Member companies to adhere to its Code of Standards and Ethics.

C.A.R.E. member companies currently offer 2500 vacation properties and service approximately one million vacation owners and members. C.A.R.E. is an international organization, with members throughout the United States, Canada, Mexico, Europe and Australia.

Visit C.A.R.E. online at www.care-online.org for information about membership and upcoming conferences.

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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VAT Taxes in Multi-Jurisdictional Scenarios

Lessons from Case Studies Can Benefit Legal, Finance and Marketing Professionals

By Paul Stewart

Paul Stewart is a director of indirect tax services at KPMG in the UK and has been involved in advising on VAT in the vacation ownership sector for over 16 years. In such a colourful and interesting sector the last thing most subscribers will want to read about is tax! However, more than ever businesses are conscious of the need to manage tax risk whilst maximising the opportunity for savings. In this regard this article is not just aimed at those in-house people in finance and legal, but also at those involved in marketing.

The majority of countries will have some form of indirect taxation, be it a type of VAT or sales tax on transactions. This article focuses on two important cases in the European Union (“EU”) VAT system. The principles established could be relevant in other similar VAT systems.

First of all, in the interest of keeping you all with me its worth having a little refresher on the basic rules of VAT. It is the main form of indirect taxation in the EU and is a tax based on transactions rather than profits. It is important to understand “who is providing what to whom, when, where and for how much.” This helps establish the rate of VAT and the place and timing of when VAT is due. The fact that developers enter into different types of transactions, particularly in relation to property, and often on a multi-jurisdictional basisretailing to the end consumer means that the VAT consequences of transactions are not always straightforward.

VAT is a tax on consumer expenditure and is collected on business transactions. It is charged at each stage in the supply of goods and services where these are subject to a positive rate of VAT. If the customer is registered for VAT and uses the supplies for his taxable business activities, then he will be able to reclaim this VAT. In many cases (but not always) VAT simply “washes through” businesses and is ultimately borne by the final consumer. Particular rules apply to determine in which county transactions should be treated as taking place for VAT purposes. In the case of services, relevant factors can include the precise nature of the services, the place where the customer belongs and whether the customer is acting in a private or business capacity. As a general rule, services relating to immovable property are taxed in the country where the property is situated which seems straightforward. The difficulty in some instances is where the line is drawn between services that do and services that do not relate to property. The position is complicated further for those involved in cross-border transactions. Standard VAT rates vary from one EU state to another; for example, last year the UK standard rate was 15%, whereas the highest standard rate in the EU was 24%.

Added to this, member states have the right to use a lower rate although there is no consistency across member states. In southern Europe, the lower rate typically applies to hotel and touristic related services.

It is clear that in recent years the tax authorities in the EU have been focusing more closely on the vacation ownership sector – particularly in the UK, where two specific cases have reached the European Court of Justice. The cases involve RCI Europe Ltd (“RCI Europe”) where a ruling has been given and Macdonald Resorts Ltd (“MRL”) where a ruling of the European Court of Justice is still awaited. The RCI Europe case relates to the VAT treatment of enrolment, subscription and exchange fees whilst the MRL case relates to the VAT treatment of the sale of points. The services are multi-jurisdictional in nature and the common denominator is establishing the place of supply; i.e., in which country the services are to be taxed for VAT purposes. In view of the fact that VAT rates vary significantly within the EU and indeed certain non-EU jurisdictions do not have VAT systems, it is no wonder that businesses operating on an international level are keen to understand the most tax efficient structure from both a VAT and corporate tax perspective having regard of course to the key commercial and business drivers.

It all sounds complicated and quite frankly it is. What is clear is that in order to manage the tax burden and maximise the scope for lower rates and exemptions businesses in the vacation ownership sector need to understand how the tax impacts on their business. In particular, savings and a competitive edges could be obtained depending on how on how products are designed and marketed.

Case Study 1: RCI Europe
RCI Europe is a UK company which of course facilitates and organises the exchange of timeshare usage rights held by its members in holiday accommodation, the vast majority of which is located outside the UK. The case concerned the ‘RCI Weeks’ programme. Individuals make a number of payments to RCI Europe:

• An enrolment fee which covers one to five years
• An annual subscription
• An exchange fee on request for an exchange

The key issue was where the services provided by RCI Europe were treated as taking place. The UK VAT authorities (“HMRC”) took the view that UK VAT was chargeable on all enrolment and subscription fees. This was because in their view the service was not sufficiently connected with immoveable property and the place of supply for VAT purposes defaulted to the country where RCI Europe was established, which was conveniently the UK. With regard to the exchange fee, HMRC considered this as falling under an alternative VAT accounting method typically used by tour operators. Under this method, to avoid the administrative burden of multi jurisdictional VAT registrations, VAT is due under the gross margin earned only in relation to EU accommodation. Again this meant that all the VAT was payable in the UK where RCI Europe is established. To complicate matters (if you think that’s possible!) the Spanish authorities took a different view. This was that the services were connected with immovable property and therefore liable to Spanish VAT in the country where the property subject to the timeshare usage rights is located. Effectively, two EU countries were squabbling over the tax cake and the business was caught in the middle of the crossfire. Since ultimately double taxation should not arise, the case was referred to the European Court of Justice.

The Decision
The court had to define precisely the service being undertaken and came to the view that the enrolment and subscription fees must be regarded as constituting payment for RCI Europe’s service of providing participation in a system to enable each member to exchange his or her timeshare right.

In terms of its assessment of the VAT place of supply rules, the court concluded that the service between RCI Europe and the consumer is connected in its entirety to the property over which the consumer has a timeshare usage right. Interestingly, the court did say that if such services were treated as taking place for VAT purposes where the supplier is established, then it would then be easy for an operator to relocate to a place outside the EU and avoid paying any VAT at all. This almost certainly played in part in the court’s decision. In answering the questions referred from the UK, the court responded that the place of supply for all the exchange services provided by RCI Europe is the country where the customer holds his existing timeshare usage rights – i.e., there is an obligation to charge and account for VAT is on a multi-jurisdictional basis rather than accounting for UK VAT on all the services. On the face of it, the decision gives rise to multi VAT registration requirements. Once again this raises the question of the extent to which the nature of services can be adapted to achieve a more advantageous tax result without comprising from a commercial perspective.

Summary
The judgment is slightly surprising and was not fully anticipated by the parties and other contributors to the case. The judgment refers to the logic of taxing services as far as possible in the place of consumption but many would have considered this to be in the country where the timeshare obtained is enjoyed.

The decision does provide more of an insight to the approach by the courts in assessing whether services are connected with immoveable property. In this case they were considered to be sufficiently linked to the timeshare usage right be held by the member, such that it did not matter where the supplier of the services was established. This takes us neatly onto the MRL case.

Case Study 2: MRL
MRL is a developer which sells timeshare usage rights in resorts located both in the UK and in Spain. The majority of inventory and the place where most sales are concluded is Spain. The sale of timeshare weeks in Spanish accommodation is subject to 7% Spanish VAT whereas in the UK the sale of timeshare weeks is exempt from VAT if the accommodation is more than three years old. MRL is registered for VAT in the UK and Spain. MRL subsequently introduced a pointsbased system for timeshare sales which was designed in such a way to preserve the VAT treatment for more traditional timeshare sales. MRL attributed income on all points sales to the UK and Spain by reference to the inventory mix.

HMRC challenged the basis for VAT accounting contending that VAT (at 17.5%) was due in the UK on the full sales value of points including upgrade fees, irrespective of the age and location of the inventory mix and where the contracts were concluded. MRL considered that under the terms of the constitution of the points club, members were granted occupancy rights (right to exclusive use and occupation) of the club accommodation. MRL considered that the introduction of the points system should not result in a significant increase in VAT due on what simply amounts to the sale of timeshare usage rights. MRL has designed its product to address any challenge from HMRC so that the Spanish and UK authorities would continue to each get a slice of the VAT cake.

The UK VAT authorities, however, want UK VAT on all sales just as they did in the RCI Europe case. It seems that they have not even contemplated the fact that if they were correct all businesses may restructure operations in such a way to fall outside the VAT net. The Spanish authorities have not been consulted but one suspects that they are once again not likely to agree to the UK’s view!

The finding of the court in the RCI Europe case that the services related to immovable property and the fact that the court commented specifically that off-shoring would lead to an irrational result points (no pun intended) to the MRL case being decided in favour of the taxpayer. Those affected should be aware of the implications arising from both a taxpayer win and taxpayer loss. The current status of the case is that MRL and HMRC have agreed the wording of the questions referred to the European Court of Justice and a hearing will take place later in 2010.

The options are that the court will rule that the sale of points represents (i) a supply which should be apportioned based on an inventory mix basis (ii) a supply which is taxable in its entirety where the supplier has established his business, i.e., in this case the UK.

Summary
The evolving case law is, particularly in borderline cases, leaning towards services being linked to immoveable property. This can affect businesses established outside the EU if the immoveable property to which their services relate is located within the EU. It can also affect the established businesses in terms of managing the place and rate of indirect taxation on their services. Depending on the impact businesses may wish to explore whether service can be adapted to achieve a better tax result both from a financial perspective or simply to reduce the administrative burden.

Paul Stewart is a Director of VAT services at KPMG. The views expressed are those of the writer and not necessarily those of KPMG.

For more information, contact Paul Stewart, director, KPMG LLP at:
Indirect Tax
St James Square
Manchester M2 6DS
Direct line +44 (0) 161 246 4917
Mobile +44(0) 7801 522 308
Fax +44 (0) 161 246 4026
paul.stewart@kpmg.co.uk

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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Why Isn’t There Buyer Finance?

Everyone says the economy is improving and that things are getting better. But what about the timeshare market? For an industry so dependent on consumer lending, the most important issues aren’t simply when travel will pick up and how much consumers are spending – it’s all about the paper.

Here, we interview two experienced financial experts – Charlotte Bailey, operations director, HMC Funding, North Somerset, England; and Nico March, senior vice president – Investments, The March Group of Wells Fargo Advisors, San Diego, California – to find out about the true state of buyer finance.

How would you describe/explain the problems surrounding the lack of consumer financing available? Why isn’t there buyer finance?

Bailey: In regard to UK timeshare, there have never been more than two banks/finance companies in the marketplace and for a great majority of the time in recent years there has only been one finance company. Also finance has only really been available for the British purchases because only a very few people from the banking and finance industry, such as HMC Funding, understand timeshare.

March: I think the question itself is a misnomer. It should really be, “Where is there buyer financing?” While the old-fashioned 10-year-term loan or mortgage type paper is probably history, loans are being made today and lending solutions have been provided even in today’s volatile economic environment.

The sales and marketing of fractional and timeshare are changing with the times as well. We have been making money available for those few who are entrepreneurial leaders and willing to think outside the box. In fractional markets, most prospective buyers are successful high net worth individuals and families with real estate holdings, business ownership and other assets – and all of these folks are still looking to buy, especially today! We are actually lending them money now, at rates as low as 4% (as always, rates are subject to change*).

When discussing the financial criteria and qualifications for the luxury market purchaser, this unique idea fits perfectly within the basic demographics of most of your potential owner profile. In addition, part of our value proposition has been a no cost or obligation analysis of each individual case with a white-glove approach. Once qualified, funds are usually available for your client in as little as 4 days** utilizing various methods currently at our disposal. It is not old school and not everyone is qualified, but in the fractional marketplace would you rather have cash – or paper that may default on you?

What about developers who say they will not open a fractional development if buyer financing is not in place first?

Bailey: For fractional consumer finance, it really depends on a number of factors. We have seen numerous enquiries from socalled fractional clients, most of which have no comprehension of what is required to establish a successful fractional operation. We also have seen developers trying to sell fractional at a high retail price to any nationality without research or investigation as to what constitutes a successful fractional project. The chances of finding a bank or mortgage lender to finance these fractionals are rare because the financial logic does not add up in terms of risk and rewards for the bank or funder. Therefore, finance programs for these projects will be difficult in the current financial economic climate.

The other factor is that there is a fundamental lack of prospect purchasers for second and vacation homes in places like Spain and parts of the U.S.A., as well as other parts of the world. The assumption made is that if they will not buy whole ownership, then they will buy fractional. This is a flawed proposition. Most fractionals are sold to existing timeshare owners.

Developers with existing unsold projects are looking for alternative ways of selling these properties as fractional purchases (a posh name for timeshare) at a profit. Regrettably, the price point for some of the fractional are totally unreasonable in the current climate, and that is why banks and financial institution will not finance these projects. You do not need a degree in applied mathematics to realize that a property which originally would sell for $500,000 two years ago which is now valued at $250,000 and still on the market can now be marketed as quarter share for $125,000 per share, which is what developers are trying to achieve. In today’s real world, a bank or funder would look at that property and currently fund a maximum of 60% of the value of that property as a whole ownership sale ($150,000), so why would they finance four quarter shares at $125,000? In terms of risk, the bank or funder would be over exposed by over 100%.

The only solution is to start from a very different prospective: Understand what banks are prepared to lend and to what price point, and then price your product accordingly.

March: When a developer is considering a fractional development, the end-user financing is always a major consideration. In the future, I believe developers will have to consider several changes to the economic landscape:

• The “banking” model of earning 14% cash on receivables plus selling real estate at a nice profit is no longer as viable as it was in the past. I am certain that some institutions will come back into the market (some securitizations have actually taken place recently) however, time will tell how many players can afford the risk.

• Cash sales will become the vehicle of choice for “preferred properties”. As I mentioned before, buyers are out there, the “baby boomers” are starting to retire and travel and they have the assets to be able to afford to purchase today.

It’s a team effort; innovators and developers who embrace this change will be the winners in the next few years.

As an example of some of the clients we have dealt with, the following represent a baseline profile of individuals (including spouse) that might be considering a purchase. With an asset mix similar to these we are able to arrange consumer financing for the full purchase price.

Profile 1: $200,000 Purchase
Age 45-65
$200k Annual Income
Net worth: $2 Million
$1 million Home/Property
400k 401k/IRA
600k Investments & Savings***

Profile 2: $500,000 Purchase
Age 45-65
$300k Annual Income
Net worth: $3 Million+
$1 million Home/Property
500k 401k/IRA
1 million+ Investment Portfolio***

Profile 3: $1 Million Purchase
Age 40-70
$500k Annual Income (including interest and
dividend income)
Net worth: $8 Million+
$2 million+ Home/Properties
1 million Retirement Accounts
3 million++ Investment Portfolio***
2 million+ Business Interests

As to the differences between or across the pond, I believe that the global economic situation has created an enormous opportunity to create new models applicable by developers on a worldwide basis. Many individuals today have global banking, financial services and lending capabilities through various institutions. The trick is finding the right connection, and making certain the development is one that has sales appeal. The rest is just paperwork.

*Variable rates based on assets, subject to change
**Using Asset Backed LOC with marginable securities
***May also include highly appreciated assets (equities/fixed income/international and income generating bonds such as USD-denominated municipal bonds).

For More Information

HMC Funding
HMC Funding is one of the leading providers of financial products to customers, marketers and developers in the leisure industry. The scope of our funding includes vacation and cruise finance, timeshare, fractional and whole ownership. Our reach includes the U.K. Europe, North America, and both the Middle and Far East.

Telephone: +44 (0) 1934 751850
E-mail: charlotte.bailey@hmc-funding.co.uk
Website: www.hmc-funding.co.uk

The March Group
The March Group works with clients globally providing asset and liability analysis, banking, investments, lending and services typically done in the past through many diverse, small or sometimes local institutions. In addition, The March Group developed and coordinates some unique software and financial management processes exclusive
to their corporate clientele.

Telephone: 858/523-7923 | 800-538-8301
E-mail: nico.march@wellsfargoadvisors.com
Website: www.home.wellsfargoadvisors.com/nico.march

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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A List: Darren Ettridge, Vice President, Resort Sales and Service EMEA Interval International

Perspective Magazine Editor Matt McDaniel recently chatted with Darren Ettridge, Interval International’s vice president, resort sales and service for Europe, the Middle East and Africa. The one-time co-workers talked about how Ettridge got into the timeshare industry, what’s happening at his company, the Timeshare Directive and his favourite football club (and you’ll likely not guess which it is).

Perspective Magazine: How did you get started in the industry?
Darren Ettridge: In 1997, I started working for First National Bank in unsecured consumer lending as manager of what was at the time the holiday ownership department. Our role was to persuade existing timeshare developers and marketers to use our consumer financing for their timeshare purchasers. And so through my involvement at the bank, I started to understand more about the world of timeshare.

And you joined Interval International in 2000. How did the transition go?
It was a natural progression – you’re working with many of the same developer clients and marketing companies. It’s obviously a different part of the business, but the mechanics from a sales standpoint are very similar. And because I had existing relationships, it was an easier switch in that sense.

Tell me a bit about your position at Interval.
As you know, at Interval we serve two constituencies: our developer clients and our consumer members. The majority of our members have come through the means of either purchasing timeshare, fractional or private residence-type ownerships at one of our member resorts. A fundamental aspect of my role in Resort Sales and Service is to work with existing clients and their marketers to assist them in growing their businesses and ensure they’re very satisfied with the services we provide to them on a business-to-business level – products, training and technical support – which enable them to have all the facilities they need to enrol members with Interval. Another big part of what my team does with existing clients is listening to them as to how they perceive the market and provide them with our advice and assistance on key aspects of their vacation ownership offering.

Secondly, and as importantly, we are always looking out for new affiliates entering the industry and helping them to understand the many complex facets of our business. Prospective clients may be good marketers, for example, but not necessarily be familiar with the legal or finance aspects of vacation ownership. Or they may need help with product design or structuring their operations. It could even be someone with a green-field site who’s thinking of doing timeshare. We work with them all the way through to when they start sales and marketing, giving them comprehensive assistance. We often give them guidance and sometimes we connect them with experts with whom we have relationships. Either way, it’s exciting to be a part of the process that leads to their eventual success.

So are you enjoying your career?
Absolutely. I work with great people and Interval’s a very loyal company to be associated with. You worked for Interval; you know there’s a real family yet highly professional environment. You always want our CEO Craig Nash in the room with any client because he is so passionate about the industry – and that rubs off on you.

There have been some big changes at Interval. I believe the company is now traded on the U.S. stock exchange?
Yes, Interval Leisure Group, the parent of Interval International, is a public company that is traded on the NASDAQ under the symbol IILG. We became a stand-alone public company for the first time in our almost 35- year history in August 2008.

Tell me about some of Interval’s new clients, products and programs.
From my Resort Sales point of view, I’ve had great satisfaction in being a part of our growth in new markets for us, in particular Central Europe, southern Africa and the Middle East. In Hungary we have a really great relationship with Denes Pieke and his Holiday Club Hungary team, who kickstarted our whole move into that market with their support and advice. Southern Africa had historically presented us with a challenge until we teamed up with Southern Sun and they affiliated their network of resorts with us.

Since then we’ve gone from strength to strength and today we have a great springboard for continued expansion. In Dubai we’ve seen some highly successful affiliations and built some really worthwhile partnerships there. If you’d have asked me to look into the future a few years ago, I’d have been very brave to have predicted our success in these areas!

On the member side, in addition to offering new holiday experiences by continually growing our resort network, we’ve introduced a number of programs and products to enhance the membership proposition. For example, last May we launched ShortStay Exchange, a program that allows our Interval Gold members to holiday in shorter increments rather than the previously required seven-night exchange stay, regardless of whether they transact in weeks or points.

This provides a great deal of freedom and flexibility – and when members choose to take their holiday time in two- to six-night stays, it increases the perceived value of their vacation ownership purchase. It also means members may visit resorts that they haven’t previously, since they don’t have to commit to an entire week.

We’ve also enhanced our digital platform with the addition of resort ratings, a planning tool accessible at IntervalWorld.com. Members now have the opportunity to share their ratings and learn how other members have evaluated resorts. While it’s not new in the world of consumer websites, it is relatively new in the exchange environment, and enhances the member experience. I know that we will continue to look from the members’ standpoint, as we always have, at how we can best use new technology to assist them in better understanding how to maximize their vacation opportunities.

Switching gears a bit, what are your thoughts on the Timeshare Directive?
When I first joined the industry, the UK Timeshare Regulations had just been introduced, which implemented the 1994 European Timeshare Directive. A cooling off period and restrictions on deposits came into effect – and certain timeshare operators thought that it would be the end of the timeshare industry.

However, legislation has in many ways reinforced the positive side of the industry over the years, particularly in the area of selling practices. New provisions will be enacted in the near future with implementation of the Timeshare Directive of 14 January 2009.

These new provisions will require timeshare traders to provide enhanced disclosure information for consumers, which we believe will contribute toward increasing the confidence that consumers have in the product.

We support the changes that have gone through to date. They make for a better consumer-protective environment, which should be beneficial for everyone involved. At the end of the day, the vast majority of vacation ownership businesses that exist in the EMEA region today are legitimate companies that offer great products and customer service, and respect their members.

The Timeshare Directive will eradicate those individuals who can’t work within this legislative framework. For this reason, I’m very supportive of it. I am particularly pleased to see that holiday packs or longterm holiday products are now regulated.

What do you see for theindustry’s future?
I am genuinely optimistic about this industry. Recession or not, for the most part, people want quality, they want consistency, and they want to enjoy holiday time with their families and friends.

Many experts are saying that it’s going to take a bit of time until the financial world gets back on its feet, which may control the speed of the growth. But I am still a full believer in the many benefits of vacation ownership.

Is there anything else you’d like to mention?
I support West Ham United Football Club – always have done, always will do. Even though it might lose me great credibility wherever I go, I’m very proud to be a West Ham supporter.

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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Perspective Magazine North America Launches As Largest And Yet Most Inexpensive Trade Publication

Perspective Magazine, the leading monthly timeshare and fractional ownership business publication which has been in circulation since 2005 as a global edition, recently announced that it would create a series of regional titles to more closely concentrate specific issues relating to each marketplace around the world. The first of these publications to be launched is a North America edition.

Perspective Magazine North America, which focuses on USA, Canada, Mexico & Caribbean regions, was launched this week with a reach of more than 12,000 print and online subscribers making it the largest monthly publication in the region from inception.

“We had most of our readership already from the global edition, but were pleased to reach our target of 7,000+ individual print subscribers before launch and are still looking to increase this to around the 10,000 mark across the rest of 2010.” Said Paul Mattimoe, CEO, OP Media LLC and Perspective International. “But the real story here is that we’ve been able to adjust and reduce our standard advertising rates to less than all other industry publications, even though our monthly reach in some cases is far higher – and we are very pleased we were able to negotiate this and pass on the benefits to our clients”.

Through a strategic regionalizing of content, Perspective Magazine has been able to increase the number of magazine titles it produces and increase circulation and distribution for each in such as way that it has been able to restructure its pricing into a Win Win situation for both publisher and clients.

In addition, Perspective Magazine North America continues the Perspective tradition of offering a wealth of online advertising and social media coverage free of charge to its premium advertisers.

The first edition of Perspective Magazine North America is available to view online at http://www.perspectivemagazine.com/na and industry professionals can request a free print subscription from the website. This edition is also available to all delegates at the upcoming ARDA Convention & Expo in Las Vegas in March (http://www.arda.org).

For more information on advertising and editorial opportunities visit http://www.perspectiverates.com or call +1 407 792 2343 or email advertising@perspectiveinternational.com

About Perspective Magazine
Now available in two versions, Perspective Magazine continues to grow at a rapid pace, maintaining its lead as the largest independent trade publication for the shared ownership industry and continues to pioneer and push boundaries with technology, distribution channels and communication tools. Perspective Magazine is also available online, provides the latest news headlines updated daily and now hosts the industry’s only standalone social networking platform which combines all of the most popular features of Facebook, LinkedIn and Twitter to encourage more communication within the industry.

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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Raintree Vacation Club Partners With TimeShareWare For Sales & Marketing And Club Functionality

Raintree Vacation Club, with 21 resorts in the Western US, Western Canada, and Mexico and over 50,000 Members/owners worldwide, recently contracted with TimeShareWare to add enterprise-wide Sales & Marketing and Club functionality to their existing TSW software platform.

Raintree is now using the entire breadth and depth of the TimeShareWare Enterprise platform for property management, owner contract management, reservations management, accounts receivable, front desk operations, housekeeping, maintenance, sales and marketing, and club management. TimeShareWare is replacing the existing RCC software at Raintree Vacation Club.

John Berger, Senior Vice President of Raintree Vacation Club, said TimeShareWare Enterprise provides everything Raintree needs. “TimeShareWare provides the technology platform we need to connect all of our functions together – from tours, contracts, club and reservations, to front desk and property level activities. It also gives us the ability to track and analyze the activity of our Members, and then, anticipate and deliver on their desires. It is the customer connection we’ve been looking for, not only to improve efficiency on our part, but to provide a superior level of customer satisfaction for our Members.”

Cheryn Pollard, Director of Marketing Communications at Raintree Vacation Club, says “Our primary objective is to consistently enhance our Members’ lives by providing extraordinary vacation experiences. Having everything on the TimeShareWare platform will allow our Raintree Vacation Guides to focus on the needs of our Members instead of our internal procedures. We have a sophisticated Club and this will be a big win for our Members.”

Candace Vigil, Business Development Manager for TimeShareWare commented, “We are delighted that Raintree Vacation Club has chosen to include sales and marketing and club management with their existing TimeShareWare modules. TimeShareWare’s advanced technology will provide the flexibility they need to expand products and services while maintaining the high level of customer service their Members have come to expect.”

Allen Rice, Chief Marketing Officer of TimeShareWare, says, “We are very pleased with the tremendous partnering relationship that we share with Raintree. We are confident that our technology platform will help Raintree Vacation Club to achieve even greater levels of success. We have always been impressed with the quality and professionalism of the Raintree team and how committed they are to the customers they serve.”

About Raintree Resorts and Raintree Vacation Club
Raintree Resorts is a unique blend of club, resort, and hotel hospitality, balancing cosmopolitan flair with local flavor to create a defining experience in select vacation destinations. Raintree Vacation Club currently offers primarily condominium-style rental and membership accommodations in select resorts in the U.S., Mexico, and Canada.

For more information on Raintree Resorts, please visit their website at www.raintreeresorts.com

About TimeShareWare & CondotelWare:
TimeShareWare provides the most advanced resort technology in the industry and has created a state-of-the-art software platform to provide best-of-breed, superior software solutions to shared-ownership, mixed use resorts around the world. Since 1993, TimeShareWare serves all sizes and types of vacation ownership associations, fractional ownership properties, and timeshare resorts including multi-site, single-site, and points-based clubs. The advanced technology provides critical functionality to the Vacation Ownership, Vacation Club, and Vacation Rentals industries. The TimeShareWare software platform includes solutions for lead and tour management, contract processing, sales and marketing, owner accounting, loan servicing, property management, reservations, and web-based owner servicing.

CondotelWare is the first full-service software solution designed specifically for condominium residences and hotels. The software helps owners and operators master all aspects of condo-hotel/residence management and administration, including owner accounting, billing, rental rotation, inventory management, reservations, owner relations, reporting, and more.

For more about TimeShareWare, please visit their websites at: www.timeshareware.com

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Sol Melia Vacation Club Joins The Registry Collection

Dominican Republic and Canary Island resorts become part of elite group

Sol Meliá Vacation Club (SMVC), an international vacation membership club with locations in the Caribbean, Mexico, Central America and Europe, has joined The Registry Collection®, the world’s largest luxury exchange program including luxury fractional, whole ownership, private residence club, high-end timeshare, villas and manors, luxury cruises, yachts and private jets.   Sol Meliá Vacation Club at The Reserve at Palma Real and The Reserve at Paradisus Punta Cana, both in Punta Cana, Dominican Republic, and Sol Meliá Vacation Club at Gran Meliá Palacio de Isora in Tenerife, Canary Islands, Spain, now have the prestigious “by invitation only” affiliation with The Registry Collection.
“It’s an honor for us to have these three distinguished resorts meet the high standards of affiliation with The Registry Collection,” said Denis Ebrill, Sol Meliá Vacation Club’s Executive Vice President. “We also are very excited that its gives our Members access to high-end exchange experiences within an elite portfolio.

Sol Meliá Vacation Club is an internationally-branded membership club focusing on leisure lifestyle experiences that include exotic destinations, designer-appointed luxury suites, exclusive services and unforgettable amenities.  Each Sol Meliá Vacation Club vacation experience is different from the other, aligned with local culture and customized to fit Members’ leisure lifestyle needs.

Orlando, Florida based Sol Meliá Vacation Club is part of Spain-based Sol Meliá Hotels & Resorts, a 50-year-old international hospitality company with over 350 hotels in 30 countries on five continents.  Sol Meliá Vacation Club Members have more vacation lifestyle options through global luxury accommodations in a variety of unique resort and urban destinations around the world, as well as flexibility to choose length of stay, season and size of unit.  Featured Sol Meliá Vacation Club locations include Cancun, Cozumel and Puerto Vallarta in Mexico; Puerto Rico and Punta Cana, Dominican Republic in the Caribbean; Panama in Central America; and the Canary Islands, Spain, in Europe.  For more information, call 866-379-5950, or visit www.smvc.com.

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Starwood Hotels & Resorts Goes Live With Global TelePresence Meetings Suites Allowing Guests To Meet Across Continents

From the Magnificent Mile to Down Under: W Chicago City Center and Sheraton on the Park Sydney first in Starwood’s Global Portfolio to introduce Cisco TelePresence for Virtual Meetings

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) unveiled its first in-hotel Cisco TelePresence meeting suites today with a virtual, interactive meeting spanning across two continents. The W Chicago City Center and Sheraton on the Park Sydney are the first in Starwood’s global portfolio to introduce the new meeting facilities, showcasing the state-of-the-art Cisco TelePresence technology. Guests and corporate clients were brought together in a true-to-life meeting setting, despite more than 9,000 miles apart and the 17 hour time difference. Participants in both locations had a seat at the table and were able to meet “face-to-face” utilizing ultra-high definition video, superior audio and life-size imagery of all participants.

In June of 2009, Starwood announced a partnership with Tata Communications and plans to build Cisco TelePresence rooms in 10 properties worldwide. In addition to the W Chicago and Sheraton on the Park Sydney, inaugurated as part of this partnership with Tata Communications, two more Cisco TelePresence meeting suites will open in the first half of this year including the Sheraton New York Hotel & Towers and Sheraton Centre Toronto which will come online in the upcoming months. Other Starwood locations planned to open throughout 2010 include The Westin Los Angeles Airport, with the anticipation to expand the offering to key domestic and international business markets such as Dallas, San Francisco, Brussels, Paris, Hong Kong and Frankfurt. As an industry first, reservations for these telepresence rooms can be made instantly using the Tata Communications online portal, with a convenient payment capability using all major credit cards.

As the world and the hotel industry grow increasingly more global, Starwood is continuing their legacy of innovation and looking at tomorrow’s travelers and how they want to meet. There is also an increasing demand to incorporate technology, virtual meetings and social media into new meeting offerings from the next generation of business travelers.

“The launch of the new Cisco TelePresence meeting suites at the W Chicago and Sheraton on the Park Sydney is another example of Starwood’s commitment to innovation by offering our clients an exciting, new meetings solution that facilitates a ‘face-to-face’ meeting in the same room regardless of global location,” said Christie Hicks, Senior Vice President of Global Sales for Starwood. “We have a great partner in Tata Communications and look forward to continuing opening new meeting facilities throughout our portfolio of hotels around the world.”

“With 2010 fully in gear, we’re well on our way in bringing more public rooms in critical business hubs like Sydney and Chicago. We hope that through this partnership with Starwood, even more business executives can take advantage of the productivity this technology offers and save on costs that can be invested in their core competencies. We intend to make telepresence available to as many users as possible with our global network of public telepresence rooms and our suite of managed telepresence network services for businesses. This opening is just the first step in that direction with many more in other key markets soon to follow this year,” said Peter Quinlan, Director, Managed Telepresence Services, Tata Communications.

“More businesses are recognizing the value of being able to rent Cisco TelePresence facilities by the hour, either to extend their existing deployment to further locations or to experience Cisco TelePresence for the first time. Having meeting facilities in a comfortable setting with access to business services at times that fit individuals’ schedule can help to take some of the grind out of traveling. The value of public suites facilities increases exponentially as more rooms from more providers come on stream, so today’s announcement represents another key milestone in making these facilities more practical for business,” said Mark Weidick, VP/GM for Cisco’s TelePresence Exchange Business Unit.

Cisco TelePresence provides life-like, high definition, conferencing facilities with superior audio, video and environmental qualities allowing participants to meet their colleagues, customers and business partners across a virtual table. The public facility offers users who do not have telepresence rooms within their company, access to this cutting-edge technology at an affordable per hour rental rate. Tata Communications has several operational public rooms in India (Mumbai, Bangalore (x2), Chennai, Hyderabad, Delhi and Gurgaon), UK (London) and USA (Boston), Manila with PLDT in the Philippines and Johannesburg with Neotel in South Africa.

For more information about Starwood Hotels Cisco TelePresence Suites visit http://www.tatacommunications.com/telepresence/.

About Starwood Hotels
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 992 properties in nearly 100 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Méridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched Aloft(R), and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.

About Cisco
Cisco, (NASDAQ: CSCO), the worldwide leader in networking that transforms how people connect, communicate and collaborate, this year celebrates 25 years of technology innovation, operational excellence and corporate social responsibility. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.

Cisco, the Cisco logo, and Cisco Systems are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information.

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John Spence: 25 Years Later

John Spence, the entrepreneurial chairman and owner of Karma Royal Group, celebrates 25 years in the industry this year. Spence’s career spans a humble beginning to a 17-resort group with no debt today, and Paul Mattimoe reviews those 25 years.

Paul Mattimoe:
25 years, 17 resorts and no debt –how does it feel?

John Spence:
I feel a sense of achievement. However, I also believe in the philosophy of “keeping it simple.” For me the simple fact is that we are a sales driven company. It is our ability to sell day in and day out which has enabled us to be where we are today.

Is this a mission statement?
Most definitely. Our mission statement is “We Create”:
• We create products which people enjoy.
• We create sales and profit.
• We create customer satisfaction.

Where is Karma Royal Group today?
We are expanding. My favorite quote is the Warren Buffet saying “when people are greedy be fearful and when people are fearful be greedy.”

I see the current climate being good for the group. We can acquire assets at realistic prices. We are presently reviewing land and resort and sales and marketing opportunities in Bahamas, Canada, Philippines, Croatia and Sri Lanka.

I am in a mood for expansion. Greedy.

Where did all start?
As a sales rep in Tenerife for Global Group. I started in 1985 at Sunset Bay in Tenerife. I worked my way up within Global.

What did you learn in those early years?
Probably the need for ethics above all else. Ethics and integrity have been the cornerstone of my timeshare career. I was very disappointed at the direction the industry took in those days. Particularly the “big sale” scam. While I was in charge of Global I never allowed the sales department to take us down that route.

You became something of a leading figure in European timeshare. You were vice president of Global – the largest and most successful timeshare company in Europe. And yet in 1993 you gave it all up. Why?
Two reasons really.
First – although I was instrumental in building Global and its value I had no equity, no shares, options, etc. and I was discouraged by that. A lesson I have learned in business is that the strongest motivating factor of all is personal enrichment. Hence in KRG I have not made the same mistake.

Secondly – as a “history of timeshare” student so to speak, it seemed clear to me our industry goes through various cycles. And it was the first cycle, i.e., when the industry is new in an area and booms that interested me most. I wanted to repeat the experience of the early developers on Europe and USA.

So you packed your bags and went to India.
When I first planned things it was my intention to go to the Caribbean and Latin America. However at the 11th hour we changed course and went to India. I always say we did what Christopher Columbus did but in reverse. Columbus sailed west thinking he was going east. We thought we were going west but went east.

So how did KRG start?
OPC’ing on a beach in Goa.

Tell us the full story. Why did you choose India? Who went? How was it capitalized?
When I visited Goa in 1993 I knew I had found the place to be our home. Goa was just beginning as an international tourist destination. It has tourists from Europe and India. Land prices were cheap. (I have always been driven by a belief that we need to keep product cost under 20%.)

India had a huge population. It was an emerging market and it has a middle class of quarter of a million families, creating a huge domestic market.The team consisted of a handful of loyal colleagues from my Global days – in particular Mark Attwood the group sales and marketing director, as well as Esperansa Patricio and Ann Gilchrist (all of whom are still with me today).

And the start-up funding?
My life savings. It was all a huge gamble for me. I sold my flat in London, cashed in my assets and threw it into the pot (and looking back it wasn’t that much). But we were all driven by this vision to create something huge. Failure was just not an option we considered.

Why did you become a developer? At the time it was more normal for people to operate marketing companies?
I believe a timeshare business needs roots and continuity. By developing resorts you have that. Your product is your rock. If you just run a marketing company there is no substance behind you. You can be here today and gone tomorrow (which indeed is what happened to most of our competitors in Asia as they were nearly all marketers).

Did you have any other strongly held values?
Yes – the importance of controlling every aspect of the business. Very early in the company life I realized we had to become a vertically integrated company. Today we have divisions for design and construction, sales and marketing, resort management, customer services, spa, etc.

This means that we are the masters of our own destiny.

Was it all plain sailing?
I wish it had been. Where shall I start? The problems of getting people to adjust to life in India, the dodgy practices of Goan developers. I could write a book. No, it wasn’t easy.

What was your sales and marketing strategy?
To sell quickly. I bought the land. We placed it in trust. Then we had to sell like crazy to fund the development. That is how we became a debt-free company. We sell to live and live to sell. (It’s a principle I have adhered to ever since.)

So we opened offsites all over Asia. I think the end figure is 76 venues 18 countries. But not for us Paris, Morocco, San Francisco – instead Mumbai, Calcutta, Dhaka, Jakarta, Manila.

In those days the creation of the member base was our dominant goal. I agreed with Mark that we would stop when we reached 30,000. But somehow we never did. It’s well over 50,000 all in acquired bases, associates, etc.

How did Karma Resorts come about?
I became conscious of the fact that the perception of timeshare limited our options of what we could do with the company. I believed that if we laterally diversified and added another operation it would give the company enhanced value.

Karma Resorts has done exactly that. With our three luxury boutique resorts, association with Leading Hotels of the World and celebrity guest list we have given the group an exciting public face and opened doors.

For example we are strong bidders to develop Rottnest Island in Perth. Rottnest is an icon for Perthites. KRG is hopeful of launching the contract. We could never have done that as a pure timeshare company.

So looking back over those 25 years what would you advise new players about to start to consider?
• Profit, profit, profit.
• Keep your product price as keen as possible.
• Never believe your product sells itself.
• Invest most in sales and marketing.
• Start small grow organically.
• Be vertically integrated.

Does your mother wonder what to give as a present to “the man who has everything”?
I don’t have everything. One thing she could give me is new people. To grow and expand as our plan we need good people – at all levels. That would be a nice present. We are most definitely recruiting at present.

John, that was very illuminating. Thank you for your time.
And you, Paul. Thanks.

John Spence is happy to receive any inquiries from within the industry regarding the matters mentioned in this article or cooperative ventures. His email is johnspence88@hotmail.com.

Karma Royal Group Factsheet

Resorts
RGBC at Luisa by the Sea – Goa, India
RGBC at Royal Palms – Goa, India
RGBC at Benaulim – Goa, India
RGBC at Monte Rio – Goa, India
K2 at Ratan Haveli – Rajasthan, India
Royal Kovalam Beach Club – Kerala, India
RBBC at Candi Dasa – Bali, Indonesia
RBBC at Jimbaran – Bali, Indonesia
Royal Terranora Resort and Country Club – Gold Coast, Australia
Royal Lighthouse Villas – Phuket, Thailand
Royal Bella Vista Country Club – Chiang Mai, Thailand
Royal Reef – Lombok, Indonesia
Karma Samui – Koh Samui, Thailand
Karma Kandara – Bali, Indonesia
Karma Jimbaran – Bali, Indonesia
Karma Mykonos – Mykonos, Greece
Karma Bahamas – Little Harbour Island, Bahamas

Awards
John Spence – RCI Hall of Fame, 1998
John Spence – Most Philanthropic Developer, ARDA 2004

Karma Spa: How to Operate a Profitable Spa

From time-honored healing rituals to indigenous experiences, yoga and detox, the demand for luxury spas, say experts, is no longer the province of the 5-star boutique resort. Spas are a thriving business that can dramatically increase revenue for virtually every style of resort and hotel.

Enter the world of Karma Spa situated within the grounds of Haathi Mahal Royal Resort in Goa, India – a world of pure harmony where white stone floors, arched walls, domed ceilings and flowing drapes creates a sanctuary experience. Renew your being amid the seductive white marble stone steam room with a star-like sky. Experience spa rituals and massage curatives designed to soothe, heal and nurture the whole body.

Karma Spa is the newest creation by John Spence, the owner and chairman of the Karma Royal Group. With the assistance of Judy Chapman, an internationally known figure in the global spa industry, and other experts, by the first quarter of 2010 every Royal Resort will be home to a Karma spa & wellness facility.

“We recognized that the wellness industry is one of the fastest growth industries in the world today,” says John Spence. “I wanted Karma Royal Group to share in that growth.”

There was a time when spas in hotels, like the gym or sauna, were a service facility. How things have changed – these days, spas can generate as much revenue as an F&B department. In the near future, there will be no 3-, 4- or 5-star hotel or resort without a spa facility.

Says Spence: “While we have had spas at our Royal Resorts for years, our services were not much more than a simple massage for members. But with the baby boomer generation driving the fast-growth spa trend, we realized the financial potential of spas. Housing a commercial spa facility can dramatically augment a resort’s revenue, not to mention attract more interest to one’s brand.”

He adds that Karma Spa has revolutionized their thinking. “The bottom line of a successful spa can be phenomenal. Each month we are seeing our spa revenues and, indeed, spa retail sales, grow from strength to strength. People from all walks of life are being turned on to the health benefits of spa.”

With that learning curve behind him, John Spence is offering to share that experience with the resort development industry worldwide by offering Karma Spa licenses. Any Resort Developer with the desire to operate a spa can take a license, and Karma Spas will set up and operate the spa for the developer.

When asked why choose Karma Spa?, Judy Chapman’s reply was this: “The best spas around the world offer spa experiences that are unique and memorable, and this is where Karma Spa delivers,” she says. “The Karma Spa DNA is that we offer all that one would expect to find at a 5-star spa but with Asian service and hospitality. We are also  fortunate to have a network of incredible trainers and experts in their craft who can train any team of therapists to a top notch standard.” She says that part of the unique training program with Karma Spas is their ability to select the right managers and train them to run their department as a standalone and profitable business.

She adds that it is also the design and feel of a spa that attracts guests time after time, and yet this aspect need not cost a fortune. “I know spas that have been created in the most humblest of environments, but with the right managers and a team of well-trained therapists delivering services not available elsewhere – well this is a win-win situation.”

Just some of the treatments to be found at the various Karma Spas, for example, include Himalayan crystal salt scrubs to Indian rosewater facials, Balinese tarot reading and healing reiki. From ayurvedic curatives where warm herbal compresses are pressed and pounded along the body to soothe the muscles to a signature ‘Tibetan singing bowl’ massage, the offerings bountiful. By providing experiences second to none, the potential is boundless.

Karma Spa Licenses
Create a successful and profitable spa at your resort. A Karma Spa license offers the developer:
• The shared “know how” of a successful spa operator
• Design expertise
• An Asian theme
• Exotic spa menus
• A business plan
• PROFIT
For information on Karma Spa licenses write to karmaspa@karmaresorts.com.

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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ARDA 2009 Fall Conference

As is customary for the American Resort Association’s annual autumn event, the focus of the three-day event was on legislative issues. Fall ARDA, held this past November 4 through 6 at the Fairmont Hotel in Washington, D.C.

Opening Keynote
Former Senator John E. Sununu (R-NH) cut a unique path from the private sector to public office, serving three terms in the U.S. House of Representatives and for six years as the youngest member of the U.S. Senate. Before entering public service, Sununu worked for emerging high-tech firms as an engineer, strategy consultant, and a chief financial officer. In Congress, he put his expertise to work for the nation, serving on such Senate committees as Commerce, Finance, Banking, and Foreign Relations.

Well respected by Republicans and Democrats alike, Sununu offered a sharp perspective for ARDA attendees, addressing such key issues as the state of the economy and details on recovery and elements of growth; inside details on TARP (he served as one of five panel members responsible for oversight of TARP funds); and pressing legislation in Congress.

Board Initiatives
The ARDA Board meeting of Directors presented a new initiative between the U.S. Travel Association and American Express, which will offer an auction website that allows ARDA developers an opportunity to promote their inventory, with proceeds benefiting travel industry advocacy efforts; an overview of ARDA’s new “Lender Opportunities” presentation available to members to help educate lenders about the industry; and the latest numbers from the 2009 Second Quarter Pulse Survey of Timeshare and Vacation Ownership Resort Companies, which was prepared by Deloitte & Touche for the ARDA International Foundation.

At the Legislative Luncheon, special guest speaker Congressman Scott Murphy, who represents the 20th District of New York in the U.S. House of Representatives, addressed questions from ARDA members on such issues as health care and the economy.

His business background makes him well-spoken on topics of today’s entrepreneurs and developers, as he himself has grown numerous small businesses and tackled organizational challenges. After graduating from Harvard, Congressman Murphy became a high-tech entrepreneur, and for eight years prior to congressional election, he worked for Advantage Capital Partners. He now sits on the House Committee on Agriculture and the House Committee on Armed Services.

Another key session was “Lessons Learned from the Money Chase,” with panelists Bruce Thompson (CEO, Gold Key Resorts), Don Harrill, RRP (President/CEO, Holiday Inn Club Vacations), William Ryczek (Principal, Colebrook Financial Company), Rip Gellein, RRP (Chairman Emeritus, Starwood Vacation Ownership) and Jon Fredricks, RRP (President, Welk Resorts). ARDA President/CEO Howard Nusbaum moderated, asking panelists to compare and contrast the lending environment before and after September 2008. They also discussed what non-traditional sources of equity and credit are currently available.

Chairman’s League Breakfast
The conference closed with former White House press secretary Dana Perino keynoting the morning session honoring Chairman’s League Members. Perino shared her “inside the White House” viewpoint and also provided insight into the current political climate. As only the second female press secretary in U.S. history and one of the most widely respected members of President George W. Bush’s senior staff, she has learned the essentials of crafting and communicating key messages under stressful conditions. With a close-up view of the president and his inner circle, she offered a good perspective on presidential politics, the federal government and the media.

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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yooPhuket Wins Fractional Life Readers Choice Award

yooPhuket, a spectacular collection of 256 apartments and penthouses on the Thai island of Phuket, has won the Fractional Life Readers Choice Award.

The award, which received an impressive 60 per cent of votes from thousands of readers of the global shared ownership web portal FractionalLife.com, was presented at the 2010 Fractional Summit in London on Friday.

Absolute’s International Director of PR & Marketing for yooPhuket 
Charlotte Rose Melsom who received the award, said: “The Fractional
Life Reader’s Choice Award is the ultimate accolade within the 
Fractional Property Industry voted for by the independent consumer so 
a wonderful credit to the yooPhuket project.”

Piers Brown, founder of Fractional Life said: “Thousands of FractionalLife.com readers voted and I’m delighted for yooPhuket.”

yooPhuket is a partnership between international branding, design and investment property company yoo and one of Asia’s leading development and lifestyle brands, Absolute Developments so the added security of buying into two internationally recognised brands is also a huge advantage.

Stand-out interiors are one of the things yoo do best and the contemporary design offers open plan living space with dramatic floor to ceiling windows, opening onto spectacular views across the lake, golf courses and lush Thai island landscapes. The impressive master bedroom suites have en suite bathrooms and walk in closet space. Stylish kitchens are fitted with integrated appliances. Bathrooms have fully tiled walk in shower enclosures and state of the art home technology includes comfort cooling systems and the latest audio visual equipment.

Each yooPhuket apartment comes fully furnished with a yoo designed furniture collection the apartment is ready to enjoy, even down to the last teaspoon. In addition clients can choose from a selection of the most sought after designer interior additions and upgrades to create an apartment that is perfectly unique.

Apartments within the development are available both whole ownership and quartershare fractional ownership offering a choice of purchase options to suit.  Prices for three month quartershare fractions at yooPhuket start at £44,000 for a 38 square metre studio, £65,000 for a 70 square metre two-bedroom apartment and £97,300 for a 105 square metre penthouse. These prices include superior furnishings, use of a fully-captained 31foot powerboat and the latest Callaway golf clubs, plus the standard 5 star service management company Absolute Resorts & Hotels are renowned for.

Owners will also enjoy access to Absolute’s affiliation with the renowned Registry Collection, the world’s largest luxury exchange programme and winners of the Fractional Life Services to the Industry Award also at Friday’s event. The Registry Collection provides members with access to an elite global network of the very finest vacation properties at some of the world’s premier destinations far beyond their Thailand accommodations.

Nick Turner, VP and head of The Registry Collection, Europe, added: “I’d like to congratulate The Registry Collection affiliates yooPhuket who are honoured with the Fractional Life Readers’ Choice Award. This company’s superb developments in Thailand are the essence of the successful fractional with AAA location, style and the highest quality in both accommodations and service levels.

About Fractional Life
From a fractional jet to fractional real estate, Fractional Life (www.fractionallife.com) is the number one consumer lifestyle brand dedicated to growing the fractional ownership marketplace. The company has three divisions: interactive, fractional conferences (www.fractionalsummit.com) and exhibitions (www.fractionallifeexpo.com), and publishing.

About the Absolute World Group
Founded in 1998, the Absolute World Group of companies has positioned its 1200 staff tactically across China, Europe, Japan, Hong Kong, Russia and Thailand, offering a seamless range of services within the world of Resorts and Hotels inclusive of a worldwide network of International Estate Agencies and a highly successful Vacation Club, boasting thousands of members.

Absolute is committed to delivering heavenly resort destinations from conception to completion and beyond with the added value of its dedicated turnkey resort management service.

About yoo
yoo is an international branding, design and investment property company enhancing the qualityand adding value to development projects in major towns and cities across the world.

The brand is represented by five core design teams – yoo inspired by Starck, Jade Jagger for yoo, wanders&yoo, Kelly Hoppen for yoo and the yoo design studio; all of whom increase value and sales velocity through market leading design, branded marketing and by maximizing media exposure.

Over the past ten years yoo has been working across the world with international partners on a variety of landmark buildings and large residential projects throughout Asia, Australia, Europe, North and South America and the Middle East. yoo is involved in the development of more than 10,000 apartments currently under construction valued at $7 billion.

About The Registry Collection
The Registry Collection program is a global network comprising over 30,000 members and more than 130 affiliates on five continents. More than 175 properties are available through The Registry Collection® programme and are either accessible for exchange or under development. As the world’s largest luxury exchange programme, The Registry Collection programme provides members with access to an elite global network of the very finest vacation properties at some of the world’s premier destinations, as well as personal concierge services that are available 24-hours a day. From condo hotels and high-end fractional resorts to private residence clubs and fractional yachts, The Registry Collection programme facilitates exchanges around the world and redefines the vacation experience for owners and developers. The Registry Collection programme is offered by Wyndham Exchange and Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals and one of the Wyndham Worldwide family of companies (NYSE: WYN). For additional information, visit the media center at www.wyndhamer.com.

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For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com

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Arcos Gardens Golf Club & Country Estate Of Spain Joins The Registry Collection Exchange Programme

Novaterra Resorts today announced that Arcos Gardens Golf Club & Country Estate in Cadiz, Spain, has affiliated with The Registry Collection® exchange programme, the world’s largest luxury exchange network.

Located among the Andalusian hills and adjacent to the famed white village of Arcos de la Frontera in the province of Cadiz, the Arcos Gardens Golf Club & Country Estate is an exclusive low-density golf community designed for upscale luxury living. The 440-acre property was a former olive grove that was transformed through the transplanting of over 2,000 olive trees into a leading golf destination featuring a championship 18-hole course.

With planning permission for a total of 535 homes, the first three residential phases comprising 80 townhouses and 43 villas have already been completed. Ten of the development’s premium Jacaranda villas will initially be sold on a fractional basis and be affiliated with The Registry Collection affording owners a luxury holiday exchange option in a selection of the programme’s exclusive associated properties worldwide, together with many other benefits including a 24/7 concierge service.

These four-bedroom villas, which boast 381 square metres of built space and front line golf plots of over 3,000 square metres, will have a starting price of €199,900 for an eighth fractional ownership share of the property allowing for an annual six-week occupation. As well as offering an authentic Spanish experience in a rustic community, the residential resort boasts a Landmark-designed golf course (recently listed in Europe’s Top 100 courses) and will be sold with two golf memberships and two sets of Calloway golf clubs.

“The Registry Collection offers a unique exchange programme for our fractional owners,” said Regan Berger, sales director, Arcos Gardens. “The level of service and exclusivity that The Registry Collection programme provides is precisely what our owners are looking for. We are very pleased to be working with them.”

The multi-award winning development incorporates the highest build quality and is raising the bar for high-end golf and spa resorts in Spain. Since the limited release of properties at the development, demand for homes at Arcos Gardens has been high and they have attracted the attention of several UK celebrities. Among those who have purchased properties and become part of the Arcos Gardens community are Bernard Gallacher, former captain of the European Ryder Cup winning team, and rugby world cup winner Matt Dawson. More than a first-class golf resort, Arcos Gardens is a unique low-density community designed exclusively for upscale luxury living offering first-class service, world-class amenities and a diversity of experiences, all surrounded by a naturally beautiful landscape.

The newly inaugurated Club House and Day Spa, beautifully complements the on-site boutique hotel, while many other facilities are under development including an equestrian centre and floodlit tennis and paddle tennis courts.

The development’s ‘green’ credentials are first-class with several eco-friendly initiatives incorporated into the build, including the recycling  of all water, solar panels to heat the water and the transplanting of 2,000 olive trees growing on the site which have been relocated and continue to be harvested.

“We are very proud to add this calibre of development to The Registry Collection,” said Jonathan Back, managing director, RCI EMEAI. “Our goal is to offer our members the finest vacation destinations in the world. Working with affiliates like Novaterra and Arcos Gardens ensures that our members receive exactly the world-class luxury travel experience they desire. The style, feel, design and location of these properties are in essence what The Registry Collection is all about. The province of Cadiz has long been distinguished as a very special holiday destination by its spectacular landscapes and beaches, historical milestones and a capital city embodying a unique culture, diversity and sophistication that is enduringly attractive to the international traveler.”

The Novaterra Group
The Novaterra Group is a developer and manager of exclusive upscale resort communities targeting an international market but focused on preserving and integrating each location’s unique characteristics and local feel. The Group’s first project, the Arcos Gardens Golf Club and Country Estate, is an example of its goal to create exceptional destinations in which residents and visitors can enjoy an experience characterized by superior quality and luxury delivered with the highest level of service and care. With a business model focused on providing value-added services throughout all stages of a project’s development and subsequent operation, Novaterra is committed to the long-term and ongoing success of each and every project in which it participates.

For more information on the Arcos Gardens Golf Club and Country Estate, please visit www.arcosgardens.com.

About The Registry Collection
The Registry Collection program is a global network comprising over 30,000 members and more than 130 affiliates on five continents. More than 175 properties are available through The Registry Collection® programme and are either accessible for exchange or under development. As the world’s largest luxury exchange programme, The Registry Collection programme provides members with access to an elite global network of the very finest vacation properties at some of the world’s premier destinations, as well as personal concierge services that are available 24-hours a day. From condo hotels and high-end fractional resorts to private residence clubs and fractional yachts, The Registry Collection programme facilitates exchanges around the world and redefines the vacation experience for owners and developers. The Registry Collection programme is offered by Wyndham Exchange and Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals and one of the Wyndham Worldwide family of companies (NYSE: WYN). For additional information, visit the media center at www.wyndhamer.com.

For additional information on the services offered to developers and members by The Registry Collection programme and to learn how it can add value and distinction to leisure real estate projects, visit www.theregistrycollection.com and www.rciventures.com

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Lifestyle Holidays Vacation Club, Dominican Republic, Opens New Jazz Restaurant And Bourbon Street Bar

Lifestyle Holidays Vacation Club (LHVC), located in Puerto Plata on the North Coast of the Dominican Republic, has announced the opening of Jazz, a French Fusion restaurant and Bourbon Street, an outdoor café and bar, exclusively for members and guests staying in the Presidential Suites by Lifestyle and Executive Spa Suites by Lifestyle, located adjacent to Lifestyle Holidays Vacation Resort.  The restaurant serves upscale French cuisine with an authentic Cajun and Creole flair, making for some fine down home flavor. This totally new concept, called French Fusion, was created by the combined creative talent of LHVC’s Food & Beverage director and Executive Chef, Manny Slomovits. The restaurant provides the charm and ambiance of Old New Orleans for guests to enjoy along with the food.

“Our goal is to make dining at Jazz at unforgettable experience,” says Fadi Hamad, Director of Food and Beverage at Lifestyle Holidays Vacation Resort.  “We ensure the highest quality of seafood by flying in products from around the globe at their seasonal peak.  That commitment to freshness and our quest for unique variety are two of many reasons we carefully hand select our products.”

Featured entrees at Jazz include fresh imported Louisiana seafood and steak and signature dishes such as Cajun Dusted Caribbean Sea Bass with southern slaw, white rice and topped with Creole butter, and NOLA Seafood Étouffée with bok choy and saffron infused rice.  The restaurant’s Bourbon Street Café and Bar serves signature Bourbon drinks, of course, and New Orleans inspired drinks with names from Jazz singers and songs.

“At Jazz, we define glamour with ease,” added Hamad.  “The simple, yet stunning art deco surroundings are soft and sublime, punctuated with elegant service and soul food.”

Lifestyle Holidays Vacation Club encompasses the following resorts: The Lifestyle Holidays Vacation Resort with four distinct developments; The Tropical, The Crown Suites, The Crown Villas, and The Residence Suites; as well as Dream Suites by Lifestyle; The Presidential Suites by Lifestyle, Executive Spa Suites by Lifestyle, Costa Esmeralda by Lifestyle, The Level by Lifestyle, and Lifestyle Samana.

From hotel accommodations to stand alone villas, all guests have access to five swimming pools, multiple restaurants, nightly entertainment, spa, fitness center, beaches, tennis courts and more, plus the exclusive Lifestyle Caribissmo Night festivities.  Lifestyle Holidays Vacation Club V.I.P. Members have access to “members only” facilities such as restaurants, bars, swimming pools, exclusive beach areas, as well as golf carts, limousine transfers and helicopter tours.

Lifestyle Holidays Vacation Club members, guests and families have a wide variety of activities available in the Dominican Republic’s North Coast such as a cable car ride to the peak of Mount Isabella de Torres, white water rafting, horseback riding, deep sea fishing, boating, snorkeling, monster truck safaris and city tours of Puerto Plata, named one of the 53 best destinations in the world by The New York Times.  For more Lifestyle Holidays Vacation Club info., go to www.lifestyleholidaysvc.com or call (809) 970-7777.

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Fractional Real Estate Conference, Fractional Summit USA, To Be Sponsored By The Registry Collection® Exchange Program

Global fractional ownership brand and fractional real estate conference organiser, Fractional Life, is delighted to announce that The Registry Collection exchange program, the world’s largest luxury exchange program,  is the Gold sponsor for Fractional Summit USA to be held at the prestigious InterContinental Hotel in Miami, Fla., August 31–September 1, 2010.

This inaugural event has been devised to attract the brightest and most dynamic minds in the fractional real estate industry to help define the ‘new rules’ and future opportunity within an ever changing market landscape.
The conference theme ‘new world, global landscape’ is designed to stimulate the sharing of knowledge and fresh new ideas from within the fractional real estate markets around the world, with speakers and delegates converging in one location.

“After positive discussions with the leading fractional industry professionals in the US, we strongly believe that conducting a fractional conference in the United States with a similar format to our European event http://www.fractionalsummit.com is in the best interest of growing the fractional resort real estate marketplace,” said Tracey Carter, conference and event manager.  “We look forward to welcoming speakers and delegates from around the world.”

Pre-promotional conference ticket sales activity will also attract attendance from developers and service providers considering entry into the fractional ownership sector as a result of the falling off of the whole ownership market.

“The Registry Collection exchange program is proud to support such a dynamic new market initiative,” said Gregg Anderson, vice president, The Registry Collection exchange program. “We’re delighted to be inaugural sponsors at Fractional Summit USA.”

“Fractional real estate now operates in a completely new market paradigm where many of the ‘old rules’ no longer apply.  We’re very pleased to have the support of The Registry Collection exchange program for our inaugural US conference – an event which our delegates, speakers and sponsors will be truly proud of,” said Piers Brown, Founder of Fractional Life.

Fractional Summit USA http://www.fractionalsummitusa.com will be the ideal place to get up-to date with the current market. With its global appeal, the conference is held over two days and packed with renowned speakers, group panels and presentations from worldwide experts. The event offers the perfect platform to network, learn and exchange information and ideas.

For Press, Speaker and Sponsorship enquiries please contact Piers Brown in the first instance,  piers@fractionallife.com +44 (0)20 8340 7989

About Fractional Life
From a fractional jet to fractional real estate, Fractional Life http://www.fractionallife.com is the number one consumer lifestyle brand dedicated to growing the fractional ownership marketplace. The company has 3 divisions: interactive, fractional B2B conferences

About The Registry Collection
The Registry Collection program is a global network comprising over 30,000 members and more than 130 affiliates on five continents. More than 175 properties are available through The Registry Collection® program and are either accessible for exchange or under development. As the world’s largest luxury exchange program, The Registry Collection program provides members with access to an elite global network of the very finest vacation properties at some of the world’s premier destinations, as well as personal concierge services that are available 24-hours a day. From condo hotels and high-end fractional resorts to private residence clubs and fractional yachts, The Registry Collection program facilitates exchanges around the world and redefines the vacation experience for owners and developers. The Registry Collection program is offered by Wyndham Exchange and Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals and one of the Wyndham Worldwide family of companies (NYSE: WYN). For additional information, visit the media center at www.wyndhamer.com.
For additional information on the services offered to developers and members by The Registry Collection program and to learn how it can add value and distinction to leisure real estate projects, visit www.theregistrycollection.com.

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Wyndham Exchange & Rentals To Acquire Hoseasons

Wyndham Worldwide (NYSE:WYN) today announced that its Exchange & Rentals business unit, the European leader in exclusive marketing of independent holiday accommodation, has agreed to acquire Hoseasons Holdings Ltd, one of the UK’s most renowned holiday brands, from HgCapital and a number of individual parties.

The acquisition price is approximately $60 million, net of estimated cash acquired.  The transaction is subject to the consent of the Financial Services Authority (FSA), which the companies hope to obtain before the end of the first quarter.  Wyndham Worldwide expects this acquisition to be accretive in 2011.

Hoseasons, with a proud and distinguished 65-year heritage, is one of the best-known brand names in UK tourism.  The company provides a wide range of holiday offerings in over 15,000 lodges, cottages, villas, caravans and boats across seven European countries.

Wyndham’s European rentals business is the leading provider in exclusive marketing of independent holiday accommodation across the continent and has many of Europe’s best-known holiday brands including English Country Cottages, Scottish Country Cottages, cottages4you, Welcome Cottages, Chez Nous and Canvas Holidays in the UK, and Landal GreenParks, Novasol, Dansommer and Cuendet across Northern, Central and Southern Europe. These iconic brands have a combined portfolio of over 60,000 holiday properties located in over 20 European countries.

“The purchase of Hoseasons is a great example of how we are deploying a portion of our free cash flow to supplement organic growth with opportunistic acquisitions” said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide.  “Hoseasons offers a strong strategic fit with our European rentals business and an attractively-priced opportunity to continue to grow our fee-for-service businesses.”

“We are delighted that Hoseasons is joining the Wyndham Exchange & Rentals family,” said Geoff Ballotti, CEO, Wyndham Exchange & Rentals.  “Hoseasons has been providing exceptional holidays at affordable prices for 65 years.  Hoseasons is a highly successful business and a consumer icon in the UK, complementing Wyndham’s existing rentals brands in terms of product offering, customer service and values.  This acquisition enables us to provide European vacationers with a great selection of inventory, all backed by Wyndham Worldwide, one of the most trusted names in vacation rentals.”

Ian Ailles, Managing Director, European Rentals, Wyndham Exchange & Rentals said: “The addition of Hoseasons to our existing portfolio of independent holiday accommodation brands means we can offer customers the complete range of holiday experiences in Europe. The addition of the UK holiday parks completes our suite of holiday offerings; from caravans to castles, we now have it all!”

Wyndham Worldwide retained Credit Suisse Securities (USA) LLC as financial advisor and Kirkland & Ellis LLP for corporate legal services related to this transaction.

About Wyndham European Rentals
Wyndham’s European Rentals business, part of Wyndham Exchange & Rentals and the Wyndham Worldwide family of companies (NYSE: WYN), has the largest and most diverse collection of vacation rental properties in the UK and Continental Europe. A combined portfolio of over 60,000 vacation homes – cottages, farmhouses, apartments, villas and even lighthouses and castles – are available to rent in geographic regions ranging from the Arctic Circle to the Mediterranean and from the Atlantic Ocean to the Black Sea.

Wyndham’s European Rentals also offer customers a complete range of vacation experiences, including beach holidays, country cottages, Tuscan farmhouses, family lodges set in forests, boating holidays, ski lodges and camping holidays with traditional gypsy roulottes.

Wyndham’s European Rentals has some of the most iconic brands in the European vacation market, including Landal GreenParks, with more than 60 holiday villages offering 11,000 bungalows and chalets in the Netherlands, Belgium, Germany, Austria, Switzerland and the Czech Republic. Novasol, which includes specialist brands Cuendet and Dansommer, is the largest provider of holiday homes for Continental Europe, both in number of properties offered and in geographic spread. The Holiday Cottages Group is the number one provider of holiday homes in the UK and to UK travelers going abroad, with leading brands including cottages4you, English Country Cottages, Welcome Cottages, easycottages.com and a portfolio of Southern European homes with Villas4you. Completing the portfolio, Canvas Holidays provides a unique outdoor holiday experience for families with nearly 100 campsites in nine European countries.

About Wyndham Worldwide
As one of the world’s largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses approximately 7,110 franchised hotels and approximately 597,700 hotel rooms worldwide. Wyndham Exchange & Rentals offers leisure travelers, including its 3.8 million members, access to over 65,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 155 vacation ownership resorts serving over 820,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 25,000 employees globally.

For more information about Wyndham Worldwide, please visit the Company’s web site at www.wyndhamworldwide.com.

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Harrah’s Entertainment Assumes Ownership Of The Las Vegas Planet Hollywood Resort & Casino

A subsidiary of Harrah’s Entertainment, Inc. assumed ownership of the Planet Hollywood Resort & Casino in Las Vegas today.

Harrah’s expects its customer-loyalty program, Total Rewards, to be fully integrated into the Planet Hollywood Resort & Casino in April 2010, enabling guests to earn and redeem Reward and Tier Credits. Planet Hollywood A-List points will automatically convert into Total Rewards credits at the time of the Total Rewards integration.

Harrah’s Entertainment, Inc. is the world’s largest provider of branded casino entertainment. Since its beginning in Reno, Nevada, more than 70 years ago, Harrah’s has grown through development of new properties, expansions and acquisitions, and now operates casinos on four continents. The company’s properties operate primarily under the Harrah’s®, Caesars® and Horseshoe® brand names; Harrah’s also owns the World Series of Poker® and a majority interest in the London Clubs International family of casinos. Harrah’s Entertainment is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Harrah’s is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit www.harrahs.com.

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Walt Disney World Resort Joins Clean The World In An Innovative Program To Recycle Soap

Walt Disney World Resort hotels are working with Clean the World to recycle all the partially used amenities from their nearly 28,000 Central Florida hotel rooms. Clean the World sanitizes the soap and shampoo that would be discarded and distributes these amenities to people in need around the world.

“With the support of Walt Disney World, even more supplies will reach those in desperate need,” said Paul Till, co-founder and managing director of Clean the World, who is responsible for recruiting new hotels to join the “Clean the World Hospitality Recycling Program.” Through this program, hotels financially contribute a tax-deductible recycling fee in exchange for collection, recycling and free redistribution of partially-used amenities to those suffering due to a lack of available hygiene products. In 2009, Clean the World distributed more than 230 tons of hygiene products to countries worldwide including Haiti, Mexico, Honduras, El Salvador, Nicaragua, Uganda, Mali, Zimbabwe, Swaziland, Mongolia and Romania.

By participating in this program, Walt Disney World Resort hotels are showing a commitment to saving lives and protecting the environment.

Clean the World in Haiti
In the wake of the devastating earthquake in Haiti, Clean the World has stepped up its commitment to provide basic necessities to the impoverished people of the island nation, and has included medical supplies, food, water and other essentials as well. Since January 2010, Clean the World has delivered over 150 tons of supplies directly to Haiti.

In 2009, Clean the World delivered 200,000 bars of soap to schools, orphanages, clinics and churches in Cap Haitien, Haiti. Though its Haitian partnerships and distribution network, Clean the World is providing free soap to people in desperate need for proper hygiene. In Haiti alone, 8,000 children die annually from diarrheal disease, which is preventable by up to 62% with proper hand washing.

About Clean the World, Inc.
An Orlando-based charitable organization, Clean the World, Inc. is committed to the prevention of illness and death caused by acute respiratory infection and diarrheal disease in countries across the globe. In an effort to prevent these needless deaths from occurring, Clean the World collects discarded soap and shampoo from hotels to be recycled and distributes these soap products along with appropriate educational materials to domestic homeless shelters and impoverished people worldwide. In 2009, Clean the World collected, recycled and distributed over 230 tons of soap and other bathroom amenities to impoverished people worldwide. With the donations of these discarded soap and shampoo products, Clean the World is a step closer to reaching their goal of preventing the millions of lives lost each year — and they’re doing it one bar of soap at a time. Clean the World Foundation, Inc. is a non-profit, 501(c)(3) tax-exempt charitable organization.

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Dubai’s Iconic Grosvenor House Joins The Luxury Collection Hotels & Resorts

Grosvenor House Dubai Offers Panoramic Sea Views, 12 World Class Restaurants and Lounges and Two Michelin Starred Chefs in one of the World’s Most Unique and Exceptional Destinations

Starwood Hotels & Resorts Worldwide Inc. today announced the debut of its renowned Luxury Collection brand in the United Arab Emirates with the addition of Grosvenor House, a Luxury Collection Hotel, Dubai. Located on the exclusive Dubai Marina, the prestigious 45-story Grosvenor House hotel first opened its doors in 2005 and quickly became one of the world’s most acclaimed hotels.

Custom-designed to celebrate the essence of Dubai, the hotel seamlessly blends exquisite Arabian décor with contemporary sophistication. Offering the latest innovations in technology and design, Grosvenor House features 422 luxuriously appointed guest rooms, suites and apartment suites, world class cuisine, a state-of-the-art fitness facility and spa, business areas equipped with cutting-edge technology and unparalleled premium service with butlers on call 24 hours a day.

“The Luxury Collection is a portal to the world’s most enriching and desirable destinations, where nothing less than an exceptional level of service, perfect location and indigenous personal offerings will do,” said Paul James, Global Brand Leader, The Luxury Collection and St. Regis Hotels & Resorts. “Celebrated for its exceptional location, luxury amenities and breathtaking views of the Arabian Gulf, Grosvenor House adds another jewel to The Luxury Collection portfolio.”

Originated in 1906 under the CIGA brand as a collection of Europe’s most iconic hotels, today The Luxury Collection is a glittering ensemble of more than 75 of the world’s finest hotels and resorts in more than 30 countries across the globe including Hotel Danieli, Venice; Hotel Imperial, Vienna; Hotel Grande Bretagne, Athens; Patios de Cafayate, Argentina; SLS at Beverly Hills and The Phoenician, Scottsdale.

“We are excited to bring the promise of The Luxury Collection brand to the United Arab Emirates with the debut of Grosvenor House, Dubai. This hotel is a true expression of its destination, making it the perfect addition to The Luxury Collection,” says Roeland Vos, President of Starwood Hotels & Resorts, Europe, Africa & Middle East. “The property’s sought-after location, impeccable service and sumptuous interior will ensure a unique and enriching experience for all our guests.”

Grosvenor House, Dubai also provides guests with an exceptional choice of dining experiences with 12 different world-class restaurants and bars to choose from. These include Rhodes Mezzanine, which offers signature modern British cuisine with French flair from Michelin starred celebrity chef Gary Rhodes. The menu includes dishes such as White Tomato Soup and the British favourite Bread and Butter Pudding. The hotel also offers the equally esteemed modern Indian restaurant Indego by Michelin-starred chef Vineet Bhatia, who is renowned for his Home-smoked Tandoori Salmon. In addition, Grosvenor House is home to Dubai’s only Buddha Bar, the world famous bar and restaurant with outlets in Paris, London and New York, which is known for its unique food and eclectic atmosphere.

The number of rooms at Grosvenor House, Dubai will almost double next year when a second, identical tower opens. The second tower will add a total of 323 rooms, suites and apartment suites to the hotel’s inventory providing even more style and unparalleled service for global explorers to discover.

About The Luxury Collection Hotels & Resorts
The Luxury Collection(R) is an ensemble of hotels and resorts offering unique, authentic experiences that evoke lasting, treasured memories. For the global explorer, The Luxury Collection offers a gateway to the world’s most exciting and desirable destinations. Each hotel and resort is a unique and cherished expression of its location; a portal to the destination’s indigenous charms and treasures. Magnificent décor, spectacular settings, impeccable service and the latest modern conveniences combine to provide a uniquely enriching experience. Originated in 1906 under the CIGA brand as a collection of Europe’s most celebrated and iconic properties, today The Luxury Collection brand is a glittering ensemble of more than 75 of the world’s finest hotels and resorts in more than 30 countries in bustling cities and spectacular destinations around the world. The Luxury Collection includes award-winning properties that continuously exceed guest expectations by offering unparalleled service, style and class while celebrating each hotel’s distinctive heritage and unique character. All of these hotels, many of them centuries old, are internationally recognized as being among the world’s finest. For more information, please visit www.luxurycollection.com.

About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 982 properties in more than 100 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Méridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched Aloft(R), and ElementSM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.

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Ultimate Escapes Commences Trading On OTC Bulletin Board

Ultimate Escapes, Inc. (OTCBB: ULEI and ULEI-W) (the “Company”), one of the world’s largest luxury destination clubs, today announced that the Company is now trading on the OTC Bulletin Board (the “OTCBB”) with the ticker symbols ULEI for its common shares and ULEI-W for its warrants. The Financial Industry Regulatory Authority (FINRA) cleared the request of the Company for trading on the OTCBB for the Company’s common stock and warrants earlier today.

Ultimate Escapes continues to offer the full transparency, financial accountability, market exposure and credibility inherent in being a publicly-traded company, making the Company the only pure-play, public destination club in the world with full financial disclosure.

About Ultimate Escapes®
Founded in 2004, Ultimate Escapes is the largest luxury destination club as measured by number of club destinations, and the second-largest destination club as measured by number of members. Ultimate Escapes offers club members flexible access to a growing collection of hundreds of multi‐million dollar private residences and luxury hotels in more than 150 global club and affiliate destinations. Locations range from chic urban apartments to charming beach cottages, spacious five-bedroom homes to an 80-foot private yacht. Each trip is coordinated by experienced, knowledgeable staff, trained to handle every vacation detail. Additional information about Ultimate Escapes and its club and membership offerings can be found at www.ultimateescapes.com.

About the OTCBB
The OTCBB is a regulated quotation service operated by FINRA that displays real-time quotes, last-sale prices, and volume information in OTC equity securities. It is a quotation medium for subscribing members, not an issuer listing service. An OTC equity security generally is any equity that is not listed or traded on a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs. More information is available at http://www.otcbb.com.

About Pink OTC Markets Inc.
Pink OTC Markets Inc. is a financial information and technology services company that operates an inter-dealer electronic quotation and trading system in the Over-the-Counter, or OTC, securities market. It is not registered with the Securities and Exchange Commission as a stock exchange or a broker-dealer firm. Investors should contact a broker-dealer firm to trade in a security quoted on the Pink Sheets. More information is available at http://www.pinksheets.com.

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