Today, the American Resort Development Association’s Resort Owners’ Coalition (ARDA-ROC) launched the Timeshare Resale Resource Center(http://www.ardaroc.org/resales), an online information resource for timeshare owners who desire to better understand how to safely maneuver the uneven timeshare secondary market.  As a result of a growing need to create more clarity and transparency for timeshare owners who wish to sell their timeshare interest, the Resale Resource Center was born to provide objective information on the resale process, tips on selling, and consumer advisories on the various resale scams currently being investigated by state authorities.

While regulation of the timeshare industry has developed and matured over the past 30 years, specific regulation of the secondary market is still in its infancy.  The current economic environment has led to a rise in disreputable resale companies trying to profit from vulnerable timeshare owners and as a result the resale process has become confusing to many consumers.  “With the rise in fraudulent resale practices and the far too many dishonest resellers preying on consumers, it is necessary to establish legitimate guidelines to help safeguard consumers and ensure a safe resale experience with reputable companies,” said Howard Nusbaum, president and CEO of ARDA (the industry’s not-for-profit advocacy group).

Over the past eighteen months, ARDA and its member task force have worked diligently to propose model legislation for the secondary resale market as part of an effort to standardize and legitimize timeshare resellers and the resale process.  The Model Resale Act calls for specific guidelines related to resellers, including standards for sales and marketing practices and more stringent penalties for fraudulent behavior.

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C.A.R.E. (The Cooperative Association of Resort Exchangers, Inc.) held its 52nd Semi-Annual Conference in Deerfield Beach, FL in May.  During the conference, C.A.R.E.’s prestigious Pinnacle and Richard Gallardo awards were presented, two Vice Presidents were re-elected and an industry leader was a guest speaker.

The Pinnacle award, presented bi-annually to an individual who has attained the highest level of excellence in the vacation industry for their achievement, contribution and positive impact on the direction and standards of the C.A.R.E. organization, was presented to Linda Mayhugh, Accommodations Unlimited. 

Linda Mayhugh

Linda has been involved in the vacation industry since 1987 and is an active member of C.A.R.E., currently serving on numerous committees and has served on the Board of Directors since 2009.  Throughout the years, Linda has maintained the highest ethical standards within the vacation industry and volunteers in various community awareness activities and fundraising efforts.

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Dennis M. Ducharme, RRP, President of InnSeason Resorts, based on Cape Cod (MA), has been appointed Chairman of the American Resort Development Association’s Northeast Chapter. Nominated by the Chapter’s Executive Committee, ARDA’s regional chairpersons are jointly appointed by the President and Chief Executive Officer, Howard Nusbaum, and the ARDA Board of Directors.

Ducharme is an ARDA Trustee, and also serves as a member of the ARDA-Northeast Executive Committee.  He has been a member of the ARDA Board of Directors since 2003.  His other professional affiliations include the New Hampshire Lodging and Restaurant Association, White Mountain Attractions, New England Innkeepers Association, Ski New Hampshire, and North Country Center for the Arts.

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Today, the American Resort Development Association (ARDA) unveiled a new web site – ARDA-ROC.org – dedicated to communicating with and activating the one million members that make up its resort owners coalition (ROC) about legislative and regulatory policies impacting the industry.

“ARDA-ROC members are already an active and engaged audience,” said Howard Nusbaum, president and CEO of ARDA.  “But now, we will be able to inform and motivate owners to become more vocal with policy makers to preserve, protect and enhance vacation ownership,” he continued.  A voting timeshare owner or Home Owners Association (HOA) member who contacts his or her elected official will strengthen the efforts of ARDA-ROC’s legislative team and volunteers.

At its core, the site provides information regarding current and resolved legislative activity around the country as well as from select international jurisdictions, such as the Caribbean.  Users can stay well-briefed on breaking news, upcoming events, and the latest headlines.  Users can also track the progress of specific bills of interest and eventually specific legislation. 

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Top Ten Timeshare Questions Answered

The American Resort Development Association (ARDA) and the National Timeshare Owners Association (NTOA), have announced a year-long campaign to help educate consumers about timeshare vacations. The first initiative answers ten of the most frequently asked questions.

As a first step, ARDA and NTOA contacted consumers to gauge the level of understanding of timeshare vacations, and the data unveiled a need for clarification and education about the industry. As a result, a Top Ten Questions list is available on both associations’ web sites, along with detailed answers.

Questions ranged from ‘what is a timeshare?’ and ‘what are the costs involved?’ to the more complex topics, such as ‘is a timeshare a good investment?’

“We are always looking for feedback from consumers,” said Howard Nusbaum, ARDA president and CEO. “It’s a great way to hear firsthand the questions people may have about vacationing with timeshare.”

The two associations recently agreed to a joint effort to educate consumers about vacation ownership. Other activities this year will include profile stories and social media outreach.

“Collaborating with ARDA on this initiative helps us bring a broader perspective to the consumer,” said Ed Hastry, president, National Timeshare Owners Association. “We are excited about working with existing and potential owners to enhance their understanding and appreciation of timeshare.”

The National Timeshare Owners Association is a consumer protection organization comprised of timeshare owners acting in the interest of timeshare owners. Its mission is to be a powerful recognized influence in the timeshare industry, to provide a forum for face-to-face exchanges of experiences and ideas among timeshare owners, to keep members informed about events and developments in the timeshare industry and to provide a means for informal exchanges, rental, and sale of units. For more information, visit www.nationaltimeshareownersassoc.com.

The American Resort Development Association (ARDA) is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). For more information, visit www.arda.org or ARDA’s consumer website at www.VacationBetter.org.

ARDA Announces 2010 Circle of Excellence (ACE) and ARDY Winners

The American Resort Development Association (ARDA) recognized their top industry leaders at the annual Awards Gala of the 2010 Convention & Exposition, held in Las Vegas, Nevada. The evening event, sponsored by Holiday Systems International (HSI), showcases the outstanding accomplishments among individuals, teams, resorts, and companies in a variety of categories.

“It’s about recognizing the ‘best of the best’ in the vacation ownership industry,” said Howard Nusbaum, president and CEO of ARDA. “We shine the spotlight on those individuals whose peers have nominated them for the impact and perseverance they have shown in their professional lives.”

The ACE Lifetime Achievement Award is given to an individual whose leadership, professionalism, creativity, reliability and quality standards and ethics are demonstrated in an outstanding body of work. The year’s posthumous recipient, Lynn Weas, RRP, impacted the timeshare industry with his dedication to the growth of ARDA-ROC to a powerful and influential collective voice of millions of timeshare owners. His commitment to the industry is forever endeared by the hundreds of timeshare professionals he mentored.

The ACE Community Service Award recognizes outstanding community contributions by an ARDA member individual or organization. Raising over $2 million in donations, Gold Key Resorts in Virginia Beach was honored with their work uniting over 10,000 participants in the ALS Walk and the ground-breaking of what has now become JT’s Grommet Island Park, a beachfront park that enables people with ALS to come and enjoy the coastline.

The ACE Women on their Way Award recognizes the outstanding achievements of women who continue to excel and advance in the industry. Yvonne Chang personifies this award with her development in system solutions, opening the first timeshare sales center in a retail mall, and her inspiring dedication to her fellow colleagues of the Disney Vacation Club.

The ACE Philanthropic Award recognizes the outstanding philanthropic effort for a humanitarian cause by an individual or company. This year’s recipient, RCI, was honored for their hard-work and dedication to the over 3,000 students of Christel House International. Their efforts through the Summer of Christel House and the Christel House Open have provided opportunities for children to receive clothes, food, and reliable shelter to break the cycle of poverty and pursue their dreams.

The ACE Innovator Award recognizes those who have successfully implemented a groundbreaking product, service or concept. Concord Servicing Corporation is recognized for their new product, Console, a software tool that works as a workflow decision engine, accelerating the process of organizing collection obligation cases and deciding how best the manage them.

The ACE Employee of the Year Award recognizes an outstanding employee who has demonstrated commitment, loyalty, superior performance, and the willingness to go above and beyond. This year’s recipient, Adriene Edwards of the Welk Resort San Diego property, was honored for her embodiment of timeshare, consistently showing her personal dedication to the product and its owners.

The ACE Employer of the Year Award recognizes an employer that has demonstrated exceptional commitment to its employees. Disney Vacation Club, was honored for their substantial package of benefits for health and medical support, their Center for Living Well wellness program, and their commitment to the employees who were affected by the earthquake in Haiti.

The ACE Volunteer Award is given to a member of ARDA who consistently gives his/her time, energy, creativity, and talents to further ARDA’s goals and objectives. J.P. Ottino is this year’s winner for his excellence in the creation of the ARDA Circle of Excellence Awards and his 20-plus years of service, to the industry and as both chair and co-chair of the Awards Committee.

In addition to the ACE Awards, ARDA awarded ARDY’s to finalists in marketing and sales; management and administration; advertising and promotion; and resort design categories. For a list of winners and finalists, please visit www.ARDA.org/awards.

About ARDA
The American Resort Development Association is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). Visit ARDA’s consumer website at www.VacationBetter.org.

Standard & Poor’s Report Bullish on Timeshare

Despite the recession, timeshare asset-backed securities (ABS) is one of the few asset classes demonstrating a renewed level of investor demand and resilient credit performance according to a recent Standard & Poor’s analysis. In addition, Fitch Ratings found that total ABS delinquencies fell compared to the same period last year for the first year-over-year improvement since August, 2007.

Issuance of ABS based on timeshares passed the one billion dollar mark in 2009 with more than two-thirds being in the fourth quarter. Ratings performance was solid, in part because timeshare note structuring offers sufficient credit enhancement to absorb multiples of the historical default levels. As a result, developers such as Marriott, Wyndham, Diamond Resorts, Bluegreen and Starwood have issued new term securitization and sold them to the capital markets in 2009.

“This is another indicator that our market is resilient and that recovery has begun,” said Howard Nusbaum, president and CEO of the American Resort Developments Association (ARDA). “The increase in delinquencies and defaults in the sector since September 2008 has been relatively modest especially when compared to other ABS classes, and we believe preliminary signs indicate that the worst is over.”
Credit enhancements such as subordination, over collateralization, reserves, excess spread, and triggers explain in part why the timeshare asset class has weathered the downturn relatively well. To date, Standard & Poor’s has not downgraded a single tranche of timeshare ABS securities issued since 2000.

“Thus far in this recession, credit enhancement in timeshare ABS transactions has been adequate, in our opinion, to counter the impact of economic and sector downturns,” says David Wyss, Standard & Poor’s chief economist. “If this performance outlasts the downturn, there is reason to believe that the upswing in new issuance should continue. It is also possible that issuance could again include smaller developers who, before this downturn, had access to the ABS capital market.”

About ARDA
The American Resort Development Association is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). Visit ARDA’s consumer website at www.VacationBetter.org.

Nusbaum: VacationBetter.org Is All About – What Else? – Better Vacationing

VacationBetter.org is an educational website of the American Resort Development Association designed to reinforce the value proposition of vacation ownership in all its forms by touting the benefits of simply taking a vacation.

While many Europeans take six weeks’ vacation or more, most Americans are lucky to have two weeks’ paid vacation. What’s more, an Expedia study showed that 70% of those people didn’t use all the vacation time they had earned. “Even in our own industry, I’ll come back from vacation and I’ll hear from my peers, ‘Must be nice,’ says ARDA President Howard Nusbaum. “Excuse me, but I work for the vacation industry. Why do we feel guilty?”

Nusbaum mentions the “Do You Have GVS?” buttons that were all over the place at the 2009 ARDA annual meeting, explaining that GVS stands for Guilty Vacation Syndrome.

“I’ve talked to time-management gurus that worked for companies like Proctor & Gamble who’ve told me that people should take a week a year unplugged from everything they’re doing … that’s what time management’s about: work-life balance,” says Nusbaum. “It’s not about whether you make Johnny’s soccer game on Tuesday.”

As a result of taking vacations and therefore balancing your life, he says, “your boss will like you better, your spouse will like you better, your kids will like you better – and you know what? You will like you better.”

Nusbaum also cites a U.S. Department of Education study, the results of which are prominently featured on VacationBetter.org. “Kids who go on a family vacation with their parents do better in school,” Nusbaum states. “Now I can tell you there is some self-selection there – if you’re affluent enough to go on vacation with your kids, you’re probably affluent enough to have good nutrition, to have books in your home, to help instill in your children the desire,” he says. “At the same time, tourism is the global village; it is experiencing other culture and seeing the world, which make for natural curiosity and openness, a love of learning and a love of reading.”

Nusbaum and the website also promote the interpersonal-relationship benefits of vacationing, especially in the larger units afforded by shared-ownership resorts. “People will tell you their marriages got better – this is a product that allows everyone to rejuvenate and take time as a family,” he says. “Mom and Dad have the privacy of their own bedroom and the kids can get up and have a bowl of cereal.” Likewise, he says dinner times can be wonderful times of conversing about the day’s events over an actual dinner table rather than eating pizza on a double bed and then fighting over who gets to use the bathroom first. “It’s a better way to vacation and also enhances your life.”

There are even medical studies, Nusbaum says, about your ability to avoid a heart attack being greater if you take a vacation. He sums up the site’s intent as serving to explaining to people how vacation-deprived we all are and showing how the shared-ownership product can help you have better vacationing.

A primary way VacationBetter.org, which soft-launched in 2008, accomplishes these goals is through owners’ own stories and pictures.

Nusbaum says ARDA didn’t publicize the site until 2009 because they wanted to populate it with good owner content first. He says what they’ve tried to do is capture the zeal and enthusiasm of these owners: “It’s amazing – we kind of ran into this by accident,” he explains. “When we started doing owners’ pictures, videos and stories about their vacations, we realized it’s their passion – they have better vacations. It’s a powerful message, and I think timeshare salespeople have known this for generations, but maybe those of us who are advocates have just had the a-ha moment.”

Industry Benefits
So how does VacationBetter.org benefit specific companies within the industry? “Any good timeshare salesperson will tell you this: Owners sell potential owners,” Nusbaum explains, offering up an allegory: “If I were selling cars, I might be proud that I was a Mercedes dealer, but if I go to a population that doesn’t have a driver’s license, what good’s it going to do me? So if people don’t know that they need to vacation, how can I sell them vacation ownership? So, really ARDA, through VacationBetter.org, is really selling the idea of vacations and all its benefits.”

In addition, because it’s from a non-profit third-party entity, resort developers and marketers can use the site as a credibility tool, directing unsure prospects to check out the benefits of shared ownership and resort life. VacationBetter.org clearly state’s the site’s mission and provides links to ARDA, so curious surfers know who is in charge of the site and that it’s not a lead-generation tool. “We’re not about one company,” adds Nusbaum, “we’re about the whole industry of vacationing.”

Nusbaum also likes to direct various non-consumers seeking information about timeshares, fractionals and other sharedownership interests. “It’s also a great place for us to send the media,” he explains.

“I have a place on the web I can send government officials, financial market people, and consumer media and financial press to educate them on the passion of owners. So it gives us a window into that world.”

According to Nusbaum, resort developers and HOAs can help ARDA and the industry by linking their own sites to VacationBetter.org, which will raise the ARDA site’s Google rank and help in overall search-engine optimization.

Nusbaum sees growth ahead for VacationBetter.org (“I see it as in its infancy right now”) and is ready to nurture and develop it in the coming years. “I am committed to the site and I’m committed to its message,” he says. “I am very proud of it.”

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.

Key industry leaders addressed the Board of Directors in their meeting held at the Fairmont Hotel in Washington, DC.

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.

The ARDA Fall Conference is a great opportunity for members to meet and do business in more of a small-group setting.

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.

ARDA Trustees and guests enjoyed a fine cocktail hour and dinner on the Potomac River at the House of Sweden on the first night of the conference.

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.

Focus on Education and Networking Attracts Timeshare Executives from around the Country

In just six weeks the annual American Resort Development Association (ARDA) Convention will take place in Las Vegas. Held at the Venetian Resort Hotel Casino on March 14-18, attendees at this year’s event will tackle a variety of topics including finding success in difficult economic times and leveraging social media.

It is the premier opportunity for industry leaders to network, share insights and learn new things that will help them throughout the year. The convention also provides prominent exposure for sponsors, exhibitors, and attendees among a robust representation of the industry.

“Attendees will walk away from this year’s convention with a renewed sense of enthusiasm and energy for this terrific vacation product called timeshare,” said Howard Nusbaum, ARDA president and CEO. “We have dynamic speakers and sessions planned, and I encourage everyone to make the time to attend this important learning and networking event.”

This year’s keynote speaker, sponsored by RCI, is Andy Sernovitz. Mr. Sernovitz is considered the guru of the word-of-mouth marketing movement, helping companies understand the radical changes brought by blogs, MySpace and consumer-generated media. Other hot topics in convention sessions will include new sources of financing, resales, and customer care.

Those who register by February 10 will save up to $300 off the registration cost and will be included in the Attendee List, which is known as the “industry phonebook.” They will also be able to register for the popular workshop forums including Sales and Marketing, Fractional and Private Residence Clubs, Resales, and New Business Models.

Discounted group rates at The Venetian Resort for ARDA members are available through February 9 by calling 877-283-6423. ARDA members who stay at the Venetian also qualify for Stay and Play, special benefits that include slot credit and restaurant discounts.

Companies interested in participating as sponsors or exhibitors may contact Bob Craycraft at 202-371-6700, or bcraycraft@arda.org. Visit www.ARDA.org for more information.

About ARDA
The American Resort Development Association is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). Visit ARDA’s consumer website at www.VacationBetter.org.