Fort Myers, FL (PRWEB) October 30, 2010
Executive Quest President and CEO Keith Trowbridge, PhD., http://www.execq.com, recently returned from a conference on vacation ownership held in Orlando, FL, at the newly-renovated ($450,000,000) addition Peabody Hotel. “The Rosen family really did it up grand,” commented Trowbridge, “on the extensive addition and especially to the conference facilities.”
A representative from Smith Travel reported an uptick of approximately 3% in lodging occupancy rates to 63.3%.
Howard Nusbaum, President of American Resort Development Association (“ARDA”), reported a recent study found an average “spend” by timesharing owners of $1,574 per trip, a useful number for resort areas who feel that vacation owners do not spend.
Vacation ownership sales were reported to be down by 33% in 2009. But the downturn was attributed to the lack of financing for rather than an ability to sell or desirability of the product to vacationing families.
Dr. Richard Ragatz reported that the fractional industry was suffering some of the same woes as general real estate. Average price of a fractional was down by 7.6% with the average price for an 1/8th being $205,000. Ragatz will be hosting his annual conference on the subject in March of 2011 in San Francisco.
There were some bright spots in the conference, such as Welk Resorts reporting a 12% increase in sales for 2010 year to date.
Craig Nash, Chairman of Interval Leisure Group, announced that Interval has recently launched an I-Phone app for its resort directory.
Dr. Trowbridge who spent 35 years in the vacation ownership business as a developer now spends his time head hunting in that industry via his company, Executive Quest, Inc. http://www.execq.com.
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