Cyprus Retreats today announced that its two resorts Akamas Hills and Alexandria have affiliated with RCI, the global leader in vacation exchange and part of the Wyndham Worldwide family of brands.

The two resorts are comprised of villa-style units that offer tranquility, privacy, freedom and the ultimate in luxury vacation, and are available to purchase as whole ownership or fractional properties in half, quarter, twelfth and twenty-fourth fraction options. Affiliating with RCI also means that owners can now enjoy access to more than 4,000 resorts worldwide through the exchange company’s global portfolio of affiliated properties.

Akamas Hills Resort is ideally located in one of the most unspoilt areas of Cyprus, near the Akamas Peninsula—a World Heritage site—but close to the beach and a variety of amenities and facilities. The resort is split into two phases, Akamas Hills and Akamas Views.

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GPEA Ltd, the parent company of global estate agency Fine & Country and The Guild of Professional Estate Agents, has formed a joint venture company with property PR specialist P1 Communications Ltd. The new company will provide PR services and media representation to Fine & Country’s global network of 280 UK and international offices, and the Guild’s 600 independent estate agent members in the UK.  P1 Communications’ staff will be based in GPEA’s Park Lane head office in Mayfair, London.

Malcolm Lindley, Managing Director of GPEA says: “The company has expanded rapidly in recent years and we wanted a more dedicated, hands-on team to help us make more of our success, build the brand and develop our networks further. We are delighted to be working with P1 Communications whose international and extensive property experience will be instrumental in promoting our global brand in a professional manner.”

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RDO member resorts work around the clock to help holidaymakers caught in “ash” crisis

With a massive backlog of flights now facing holidaymakers trying to get home, despite the opening of European airports, timeshare resorts which are members of the Resort Development Organisation (RDO) have been working tirelessly to provide emergency accommodation for stranded guests, helping them get home whenever possible now that the flight ban is officially over.

Families with children have found themselves taking an unexpected extended holiday in sun-soaked holiday destinations such as the Costa del Sol, Cyprus, The Canary Islands and the Algarve, right before the start of the new school term.

A number of resorts have stepped in to provide last minute arrangements and accommodation for families unable to get home, with resort teams working flat out to ensure owners either have somewhere to stay if no immediate flights are available, or help with last minute travel arrangements.

Some resorts have let guests stay on free of charge.  Seasons Holidays, Gala Resorts in Norway, Paradise Kings Club in Cyprus, Club La Costa Resorts & Hotels, Resort Properties and Pearly Grey have been accommodating guests at no extra charge, while Petchey Leisure Group, Pestana Resorts, Anfi Group and Hilton Grand Vacation Club in Portugal are providing discounted stays; some are offering significantly discounted menus in their restaurants.

Chairman of RDO Richard McIntosh, says, “Our member resorts have shown tremendous goodwill by helping out during this extraordinary crisis, not only ensuring timeshare owners are well looked after, but also doing all they can to get them home by coach or ferry services where at all possible.”

Many resorts’ travel agency divisions have been working without a break on re-booking and re-routing travel plans, doing all they can to help guests get home. Others are providing free internet access so guests can stay in touch with family back home and check the latest airline news.

At the time of writing, the flight ban has been lifted over the UK, but the situation could change if new ash cloud blows in from Iceland.

For up to date information on flights, visit http://www.flightstats.com/go/Home/home.do

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

Formerly Organisation for Timeshare in Europe AISBL, RDO is an international non profit making association registered in Brussels with company number 0457.984.213.  Its registered office is at Oak House, Cours St Michel 100/3, 1040 Brussels, Belgium. Web: www.rdo.org, email: info@rdo.org

Former tennis ace and entrepreneur David Lloyd, Chairman of David Lloyd Resorts – the worldwide property and vacation specialists – has launched a ground-breaking alternative investment fund and ingenious vehicle designed to facilitate ownership abroad.

The David Lloyd Resorts Investment Fund – made up of 5 and 7 year closed funds operated and administered by Blue Gate Capital – will capitalise on the tremendous opportunities in the global property market and will enable investors to purchase equity within a diverse range of assets selected and managed in line with David Lloyd Resorts’ proven business model.

The fund will buy apartments, penthouses and villas located in prestigious world wide resorts with leisure facilities in the popular destinations of Barbados, Canada, Cyprus, Spain, Thailand and Turkey. Offering a target IRR of 10-14% per annum, the fund proposes to distribute 4% income per year to investors in addition to the projected capital growth of the assets over the term.

Tamlyn Stone, Director of Blue Gate Capital – the explained, “Traditional investments have come under enormous pressure in recent years so the need for alternatives has increased. This has mass market appeal for those that prefer to buy into real assets. David Lloyd’s entry into the market with the benefit of a proven track record and strong brand could not have been timed better. We already know from the amount of initial pledges that it is going to be successful.”

Key properties from David Lloyd Resorts’ worldwide portfolio are placed into a Limited Partnership structure offering capital growth over the term and secured annual interest on the original investment. This is made all the more attractive because of Lloyd’s ability to bundle discounted high quality property offering investors immediate value. Property developers have proven keen to work with Lloyd because they recognise the value of the brand and consequently the company has purchased assets at an average 16% discount off the current low market values after purchase costs.

The Investment Fund has been specifically constructed to target Individual and pension investors and together with their professional advisors Blue Gate Capital has ensured compliance with HMRC and FSA regulations. Lloyd explains, “The structure has been refined to fit in with the market conditions that are likely to prevail during the best part of the next decade. We need to assure potential investors that we have done our homework thoroughly and that the projections stack up.”

One of the key benefits of the fund structure will be the ability to use SIPP and SSAS contributions. Stone continued, “With a minimum investment of GBP20,000 and a bricks and mortar underlying asset base this fund could suit many people. We know intermediaries will welcome the chance to take something genuinely different to their clients. The potential market for this product is enormous.”

David Lloyd Resorts is also launching a lifestyle product in the form a unique and financially astute way of purchasing and owning abroad. Shared ownership in properties in exceptional global resorts with a host of sporting and leisure amenities will enable purchasers the chance to share in and enjoy ownership in properties that may have otherwise been unaffordable. Shared owners will not only hold equity in their vacation property which guarantees two weeks occupancy rights but also benefit from two additional weeks vacation elsewhere in the world through a flexible resort exchange programme.

For further information contact Melanie Hickey, +44(0)1372-824518

Visit http://www.davidlloydresorts.com

Television Programming Helps Worldwide Timeshare Hypermarket Lead the Resale Market

Worldwide Timeshare Hypermarket, Europe’s leading timeshare resale company, is blazing a trail for televising programs about timeshare. First, the company partnered with TATOC, the Timeshare Association, to broadcast a 30-minute informational program that aired on the Travel Channel. Now, Worldwide  Timeshare Hypermarket is creating 60-minute programs that focus on the offerings from particular timeshare resort developers. First up: Macdonald Resorts.

This past November, Worldwide Timeshare Hypermarket joined together with TATOC, the Timeshare Association, to launch their first television broadcast, “Timeshare – History in the Making” – a 30-minute program explaining all the benefits associated with owning a timeshare – which has aired multiple times on both the Travel Deals Direct channel (Sky 647) and the Travel Channel. The program also is available to view on demand at www.traveldealsdirect.com.

“Timeshare – History in the Making” is split into several sections covering all aspects of timesharing and is interspersed with footage of typical timeshare resorts located on the Costa del Sol (Club La Costa, Marina del Sol), Cyprus (Paradise Kings Club) and Scotland (Macdonald Hotels & Resorts, Forest Hills).

Here’s an excerpt from the segment on Macdonald Forest Hills: “Forest Hills lochside resort is beautifully set in landscaped gardens and woodland on the shores of Loch Ard, ideal for exploring the magnificent Trossachs, Scotland’s first national park.” While any brochure or website can relay flowery prose and descriptive words, there is no substitute for the complementary video footage of Forest Hills and environs that accompanies them.

The broadcast also explains how exchange programs and memberships work, detailing the concepts of banking, trading and even bonus weeks and cruise exchange.

The presentation is the result of a combined effort between Philip Watson, managing director of Worldwide Timeshare Hypermarket and Harry Taylor, the CEO for TATOC. Throughout the half-hour, Taylor offers his insight on things such as management fees and the beauty of being able to exchange worldwide. He also shares his experiences as a timeshare owner. What’s more, Taylor explains the basic premise of timeshare so that even someone without any timesharing experience can understand.  The idea behind the show is to educate people about timesharing in the comfort of their own homes.

This special program was the first of what is to be many, says Watson. And now, he says, Worldwide Timeshare Hypermarket is introducing longer programming, announced in December 2009 at The FORUM event in London, with Macdonald Hotels & Resorts as the first client to participate. Rather than focus on just one Macdonald property, the show will be much broader. “We will create either two half-hour programs or an hour-long program that will promote Macdonald in total,” explains Watson, “so you would have all their hotels, their resorts and their rental program – and maybe even a fly-buy program in there – so that you’re concentrating on one group of resorts” and all that they have to offer.

Of course, by the time you read this, Worldwide Timeshare Hypermarket may have already finalized additional deals to create further 60-minute television specials. “We’re also discussing the possibility of creating such an hour-long program with Club La Costa and one or two other major groups,” Watson says, noting that another program launch is likely for March.

Key to all this is Worldwide Timeshare Hypermarket’s relationship with television outlets; while any decent marketing agency could create a video, Worldwide Timeshare Hypermarket’s agreement with the appropriate channels and networks turns a video into an actual television program. “We’ve increased the sponsorship contract with the Travel Channel for a further year,” says Watson. “We’re in discussions with Sky Travel at the moment to do exactly the same thing, but I can’t say any more than that at present.”

The Worldwide Timeshare Hypermarket Difference
Worldwide Timeshare Hypermarket is proud to be one of the market leaders in secondary timeshare resales, providing to both buyers and sellers a very safe and professional service. With Worldwide Timeshare Hypermarket’s parent company being a developer, they have found from experience that among some of the main reasons why people do not buy timeshare direct from the developer is either the product is too highly priced for them, or they do not like the sales tactics/environment used.

Therefore when it came to resales, Worldwide Timeshare Hypermarket take a step back and allow both the buyer and the seller to approach them, which leaves buyers and sellers feeling relaxed and in control. Under no circumstances does Worldwide Timeshare Hypermarket cold call, so the client never feels under pressure from the staff at any time.

Instead, the company advertises extensively on international and national television and in the press, which means the client first has to call if they wish to either purchase or sell a timeshare. Worldwide Timeshare Hypermarket is then able to offer a full service for clients from beginning to end. The company advertises sellers’ weeks in the press as well as on their website; once a buyer is found, Worldwide Timeshare Hypermarket completes the transfer on the seller’s behalf, taking all the hassle out of having to sell privately.

For the purchaser, Worldwide Timeshare Hypermarket determines which product would suit their requirements and budget – and again, the company conducts a full transfer service where all the client needs to do is sit back, relax and when they become the legal owner enjoy their timeshare along with the family.

All monies are held in trust by Resort Fiduciary Services until the transfer is complete so the client knows they can relax happy with the knowledge that their money is safe until they become seen as the legal owner. Worldwide Timeshare Hypermarket does not take deposits and allows a full 14-day cooling off period; should the potential client be unable to afford the cost up front, Worldwide Timeshare Hypermarket is able to assist them with membership to WorldWide Plus, which is a club card allowing them to purchase with 6 months interest free and nothing to pay for 6 months.

Afterwards they can use this card on a similar basis to purchase further Worldwide Timeshare Hypermarket products if they wish. This club card is supplied by H.M.C Funding and Barclay Partner Finance – Worldwide Timeshare Hypermarket was the first European timeshare company to be offered this product.

Being a member of RDO (Resort Development Organization, which formerly was OTE/Organisation for Timeshare in Europe) is integral to Worldwide Timeshare Hypermarket’s beliefs and methods of working. RDO has provided a solid framework upon which Worldwide Timeshare Hypermarket has built a  professional and efficient procedure in assisting their customers, be they buyers or sellers, and this provides those customers with the confidence that they deserve when they are dealing with a reputable and trustworthy organization.

Macdonald Hotels & Resorts is the first shared-ownership developer to take advantage of Worldwide Timeshare Hypermarket's 60-minute TV programming offer

RDO not only ensures that its member companies are operating correctly, but it also works tirelessly to promote the image of timeshare throughout Europe. In this regard Worldwide Timeshare Hypermarket shares a common purpose and they are extremely proud of their involvement with RDO. They are also proud to add to the company’s close association with TATOC, whom they support and assist in every way that they can.

Future Collaborations
“I think it is absolutely vital that resale companies and developers have a good working relationship and provide a good level of service for their customers, both old and new,” Watson says. “This is one of the key reasons why I am always looking at ways to improve the developer’s understanding of who we are and how we operate.” In addition to the television programming, Watson says that another result of this has been Worldwide Timeshare Hypermarket’s “Indulgence” trial membership package, which allows the company to tap into the large market of new-to-timeshare customers while providing good quality leads to their partner developers.

“Other than this mutually beneficial relationship, it is key that we work closely with both the developers and trustees when we are processing a transfer of ownership and the flow of information between all parties involved and a speedy and efficient process serves to enhance our reputation and that of the resort,” notes Watson.

“We also offer wholesale purchases for developers and marketers; in some instances certain resorts have the ability, through using our stock, to sell additional exchange member resort week(s) to exchange members when they exchange onto their resorts, which works very well,” he says. “We can also come to arrangements with developer resorts that take in exchange weeks through their sales teams whereby we can take these weeks off their hands.”

For more information about creating a television program about your resort(s) or otherwise working with Worldwide Timeshare Hypermarket, call +44 870 443 1466 or visit www.timeshare-hypermarket.com.

About Worldwide Timeshare Hypermarket
Worldwide Timeshare Hypermarket is a highly professional company with an excellent reputation for customer care. We have been trading in timeshare resales for more than 12 years and currently have the largest database of timeshare weeks available, plus a long waiting list of buyers who are eager for specific weeks when they become available.

Our European Headquarters are located in Bournemouth, Dorset in the United Kingdom, so we conduct our business strictly in line with the Timeshare Act of 1992. We specialize in matching buyers to sellers and handle over 1000 such transactions each and every week, so when you are dealing with us, you can rest assured that you are dealing with the best in the business.

When buying through Worldwide Timeshare Hypermarket, you can be sure that you are in safe hands, with full protection provided. Your monies are deposited in an escrow account, administered by Resort Fiduciary Services Ltd. This means that no funds will be released until title has been transferred to the purchaser’s name, ensuring both parties to the agreement of sale are fully protected at all times.

We are full members of Resort Development Organisation (RDO), the governing body for timeshare in Europe. This association allows us to offer a safe and professional service to all our clients, ensuring that all legal obligations are adhered to every step of the way.

We are also Platinum Affiliates with TATOC the Timeshare Owners Association that is run on behalf of Timeshare owners by Timeshare owners.

By Lisa Migani

Thinking about selling your existing property as fractionals? If you need some really good background information, then start by looking at www.fractionalpropertydeveloper.com.

The biggest mistake a developer can make is to start on the fractional route the wrong way around. If you start by trying to find a marketer, then you won’t be ready to actually sell when you need to be. Reservations to sell never amount to anything – get the legal structure and all the relevant documentation right and you won’t lose any
sales opportunities.

But first, you have to understand what is possible with what you have. Are the right numbers of people going to this area? Is it really something that’s desirable to the fractional market? How much is it going to cost? If you’re looking at a villa that’s so highend that it’s going to be very niche market, then maybe now isn’t the time to launch that particular product.

For Starters
We know that there are huge opportunities with distressed real estate properties in desirable holiday locations. In Cyprus there is a surplus of holiday real estate that isn’t being sold right now; likewise in Spain, Turkey and other beautiful places. However you can’t say that any Mediterranean beachfront real estate will sell as fractional.

Let’s imagine a developer who has 50 units at a really nice property on a Mediterranean coastline. He’s sold 10 units outright, but he really doesn’t know how to sell the rest. It’s not an incredibly expensive location – the cost of the real estate has plummeted and despite that fact he can’t sell it as whole ownership.  What could he be doing? Creating an
appropriate fractional product could be the answer. Let’s look at what the British want and make it affordable for them. I’m sure we can come up with a kind of fractional product which will have a market. And that could be a short-term usage plan for the fractional property owner, with the sale of the asset at the end of either 10, 15 or 20 years.

So, we’re looking at a consumer say, “I’m getting the usage that I want, and at the end of the 15 years, these villas will be put on general sale and I will get part of the sales proceeds, so I actually have an exit strategy and I will get some sort of return.”

That’s the kind of fractional that people ought to be looking at now because there’s a market out there, and for British buyers, there is also definitely consumer finance available for that product as long as it doesn’t cost more than £50,000. This scenario is not the idea that Americans have of fractionals, but rather a European solution to what the European consumer can afford and would like to buy. Fractionals can be a lot of different things. We can’t say that fractionals are all high-end and come with a title deed – because if we could, we would also be able to say that a Ritz-Carlton property is a hotel and a Premiere Inn or a Travelodge isn’t a hotel because it’s so vastly different that they don’t belong to the same category. Well, they do belong to the same category, but the market is a different
market, they are promoted in different ways.

Within the fractional model there is a huge opportunity to create an innovative product to sell to a virgin market. You could be the first to launch a highly successful, high-volume fractional resort if you do the research and have the right product.

Legal structure
The legal structure behind a product is absolutely key, because if you haven’t got something which is rock-solid you’re still not going to be able to sell because the consumer won’t believe in it. The right legal structure ensures that everybody is protected – the consumer and the developer – and everything is going to work as it is presented on the day of sale.

You must define and implement the structure which best fits your business model. Trustee ownership is ideal for many fractional models. With the short-term usage plan and sale of the asset at a pre-determined time, the trustee in effect sells the property on behalf of the fractional owners and removes the danger that one owner could obstruct the sale! The trustee also disburses the sales proceeds to the fractional owners once the asset has been sold. Choosing the correct structure at the outset is fundamental to the long-term success of any shared-ownership development and should be at the forefront of any strategic or financial planning; get it right and you really are on to a winner.

Consider the following important questions regarding a potential legal structure:
• Does it give you long term flexibility and control?
• Is it simple to administer allowing you to focus on sales and marketing?
• Will your sales closure costs be minimized?
• Are you able to provide consumer confidence without hindering the growth of your business?

The addiction that people in Northern Europe (particularly the Brits) have to buying realestate in a lovely, warm country around the Mediterranean hasn’t disappeared with the credit crunch, and it hasn’t disappeared with the economic meltdown; it’s still there. You just have to have the right product to tap into it.

For more information, contact Lisa Migani at FNTC Ltd on + 39 (0) 541 24359 or +44 (0) 7879452066, or e-mail her at lisa.migani@fntc.com

Background:
Lisa Migani and FNTC
London-born Lisa Migani began her career in the shared-ownership industry with Interval International in 1989, spending seven years as the company’s regional director for Italy. She then left Interval and worked as a consultant, working for both Interval and FNTC. She now is director of business development for FNTC in Europe, Asia and the Middle East “and anywhere else that isn’t America, where my colleague David Cox heads up FNTC America.”

FNTC is part of IFG Group plc, a financial services company quoted on both the London and Dublin Stock Exchanges that is licensed by the Financial Supervision Commission as a corporate and trust service provider. A market leader for over 30 years, FNTC manages more than £2.5 billion of property assets and provides services to over 650,000 consumers.

“We’re a bit like an iceberg,” Migani says, “because we also provide back-office administration facilities and IT solutions for all sorts of different aspects of the shared-ownership industry and this side of the work we do is often under the radar of developers as we are so well known in our role as trustee.”

FNTC doesn’t charge fees for initial consultation and will make sure that a fractional product is commercially viable before agreeing to set it up. “We make our money when our clients are successful, and we have just launched a new website, www. fractionalpropertydeveloper.com, which aims to give developers and agents the knowledge they need to understand if fractionals would work for them” Migani says.

As property sales demand subsides, proactive property developers gather to understand the alternatives available to package shared ownership offers to smaller investors, embracing the Multi-Billion Dollar niche market of Fractional Ownership in Cyprus.

As property sales on the island of Cyprus stall, like thinking developers look to new avenues to generate new sales and income from alternative sources.

One of these solutions was discussed at the First Cyprus Property Developer Symposium on Shared Ownership in Nicosia at the Hilton Hotel.

The event featured a comprehensive presentation on how developers in Cyprus might utilize new systems in re-packaging properties to investors through collective ownership, co-ownership and fractional offers.

Put simply, this new niche market has blossomed into a multi-billion dollar industry worldwide as it allows an investor to own part of a property, to invest less, and maximize their own enjoyment and usage of a second home

Developers would typically allow up to 12 investors to purchase a 1/12th interest in a luxury second home, thereby allowing them usage of one month a year.

Today, this system in popular in the USA, Thailand, Dubai, Turkey, Greece and other markets where tourism has flourished and the appetite for a second home has provoked investors to obtain their own piece of the pie.

Typically the developer places the selected property into a company, and allows smaller investors to purchase shares in the company, giving them the right of usage for one month a year, and also securing their investment with an equity based asset that the company they invested in now owns.

“Although there are several formulas on the market today, we believe forward thinking developers will embrace this formula to move their sales forward, and at the same time, attract a new fresh caliber of savvy investors who would never use a second home in Cyprus more than one month per year.” said Michael J. Tolan, CEO of World Class Group.

Tolan reminded the audience that developers who do the exact same things they have been doing without changing their mindset or strategy are doomed to sink in quick sand.

George Mintis, Vice President of the CTO also announced that the Cyprus Tourism Organization was reviewing proactive solutions for Hotel Owners to also profit from other forms of Shared Ownership, and highlighted Condo Hotels as one area of potential focus.

The Registry Collection, the world premier lifestyle services company that provides flexibility and value to investors of Fractional Ownership owned by Wyndham Worldwide was featured to the attendees as a solutions company to assist developers to enter this new arena.

Mr. Vassilis Themelidis, Regional Director of Group RCI based in Athens, was on hand in Cyprus to meet property developers who he believes can and will capitalize on this sector of the market.

“We at Group RCI are committed to provide Cyprus developers with the experience and support of our organization we have earned over the past 30 years worldwide “ he said.

“There are sunny days ahead for Property developers in Cyprus who embrace this concept now and who make a commitment to exceed client expectations by delivering superb products and services” he added.

Shared Ownership concepts will be explored in a Summit to be held in Cyprus on 29 October, at the Hilton Hotel in Nicosia.

Tourism and Development companies can embrace structures to prosper in today’s marketplace.Fractional Ownership is already a buzz word in many board rooms hoping to increase sales by the successful application of this new formula for Cyprus.

The First Fractional Ownership Symposium in Cyprus will be held on November 29th, in the Hilton Hotel in Nicosia and will be opened by Mr. George Mintis, Vice President of the CTO.

The summit will unveil the latest trends worldwide, many of which could be applied in Cyprus by using existing laws in the Republic of Cyprus.

Developers and Hoteliers are invited to attend the event which promises to explore new horizons in creating new platforms for the Building and Tourist Sectors.

Organizers, World Class Group, led by CEO Michael J. Tolan, have over 25 years in shared ownership expertise in 15 country markets. Their PR communications unit has offices in Beirut, Dubai, and Malta.

Fractional Ownership is a relatively new concept in Cyprus, however major developers are now looking into this aspect of real estate offerings to pepper their income streams with additional revenue sources.

“Developers that responsibly embrace the holistic concept of providing investors with superb benefits, management and quality with a sensible value offer will excel in today’s market place” said Tolan.

Fractional Ownership is one form of the shared ownership matrix, we also have models whereby hotels in Cyprus could also benefit by using a hybrid business model, which is covered under the current law” he added.

Fractional Ownership models may be applied to up market residential developments that offer services to end users they would have come to expect from a five star hotel, therefore the marriage of hotels and developers is essential for a healthy growth cycle in Cyprus, said Tolan.

Cyprus Resort Joins Quality Exchange Network

Interval International, a leading global provider of vacation services and an operating segment of Interval Leisure Group (Nasdaq: IILG), announced the addition of Pafiana Heights to its vacation exchange network. Located in the outskirts of Paphos on the southwest coast of Cyprus, the resort comprises 57 units that are furnished to high standards.

“The affiliation of this prestigious resort and spa is another quality affiliation for our company in Cyprus,” said Darren Ettridge, Interval International’s vice president of resort sales and service for Europe, Middle East, and Africa. “From 700 feet above sea level, there are breathtaking panoramic views from all the rooms overlooking the Paphos coastline and mountains.”

Amenities at the property include a spa with sauna and whirlpool; a gym and fitness centre; indoor and outdoor swimming pools; a gourmet restaurant; and a roof garden with bar. Guests also have access to on-call chef/butler and concierge services.

Paphos is a very popular tourist destination, particularly for the British, German, and Scandinavian markets. Among its many attractions are an archaeological museum, the Byzantine castle of Paphos, the Tombs of the Kings, St. Paul’s Pillar, and the Temple of Aphrodite (the Greek goddess of love and beauty). Other sights include the old harbour and the modern hotels and restaurants situated along the seaside promenade.

“We chose to affiliate our resort with Interval International because of its prestigious reputation, high standards, and quality of services,” said Fantinos Hadjimitsis, developer of Pafiana Heights. “The character and setting of Pafiana Heights makes it an ideal complement to Interval’s range of resorts. We look forward to offering our members all of the benefits and services that membership in Interval brings.”

About Interval International
Interval International operates membership programs for vacation owners and provides value-added services to its developer clients worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 33 years. Today, Interval has a network of approximately 2,500 resorts in more than 75 countries and offers its resort clients and about 2 million member families high-quality products and programs through offices in 26 cities in 16 countries.Interval is an operating segment of Interval Leisure Group, Inc. (Nasdaq: IILG), a leading global provider of membership and leisure services to the vacation industry.

An Introduction to Collective Syndicated Ownership will be presented to Property developers, agents, accountants and legal experts at the Nicosia Hilton hotel, on the 29th of October, 2009 organized by World Class Group.

Collective Syndicated Ownership, CSO, often referred to as Fractional Ownership, has proved that it offers alternatives to vacation home buyers through the combining the collective power of a several investors to buy, own and use a luxury property as a second home through syndication.

The principal of using the combined financial strength of several investors to own  and share a single asset is not entirely new.

According to Trump University spokesperson, founded by Donald Trump, the concept is simple and sensible, its like getting a few friends and family members together to enjoy a beach house and sharing the usage.

Security of ownership is provided by carefully structured legal systems that provide real equity for the end user.

“Major organizations worldwide have applied a Fractional Ownership model successfully, and its time to import this knowledge to Cyprus and the region”, says Michael J. Tolan, CEO of World Class Group.

World Class Group, a PR and communications unit, with various offices in the region, has a shared ownership division and services developer clients worldwide.

Attendees of the symposium will be updated on news from the recent World Alternative Ownership congress in Phuket, Thailand, where delegates from World Class Group represented various clients who are eager to learn the success formulas from around the globe.

They will also unveil the newest innovations in ‘Property Partnerships’, a product created by the consulting firm.

“We see the opportunity for mature developers to capitalize on this opportunity to create compelling product offerings through  uplifting their current real estate holdings and this will invigorate the Cyprus Property market.” he added.

“Cyprus will benefit from the proper introduction of Fractional Ownership, and in the process, consumers will derive excellent value as the average second home usage in Cyprus is less than 32 days per annum.

“This will allow many more potential clients to acquire a dream home in Cyprus,  and only invest the amount of capital that will represent their usage requirements. Fractional Ownership provides the opportunity for investors to experience capital appreciation over time as the asset, although shared, is deeded.” said Tolan

World Class Group promotes as one of its clients a ‘consortium of developers’ to attract investment to Cyprus through the Cyprus Investment Festival, which will also be touring Doha, Qatar later in November.

At the Collective Syndicated Ownership Symposium in Nicosia, World Class Group will also share business models and opportunities for accountants ,FSA’s, Asset managers, Property companies to participate in what is expected to be the fastest growth in the real estate on the island over the past 18 months.

“Without thoughtful innovation and a bold commitment to change  current strategies, Cyprus property markets are doomed to experience a major hurdle of growth recovery in the future.” We are certain that, CSO, in offerings of Fractional Ownership, will play an important role to over that hurdle and  to attract prosperity for the future of the Property Market in Cyprus.” said Tolan.