Press Release
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Timeshare Market Will Be Big, Say Experts
The third Vacation Ownership Investment Conference (VOIC) brought nods of agreement from the 130-strong audience
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Dubai
, UAE - March 15, 2007:
The third Vacation Ownership Investment Conference (VOIC) (held last week in Dubai) brought nods of agreement from the 130-strong audience comprising the key players in this niche sector – ‘It’s time for timeshare…’ is the consensus.
The vote of confidence came from movers and shakers comprising industry experts, hotel owners/operators, property developers, financial advisors, consultants, legal advisors and the media, all with an eye on the next big thing in hospitality real estate development.
The conference agenda kicked-off with an on-the-nose keynote delivered by Peter C. Yesawich, chairman and CEO of America’s foremost travel industry marketing communications firm Yesawich, Pepperdine, Brown & Russell.
Erudite, Yesawich addressed the potentially ‘heard it before’ topic of ‘Emerging lifestyles and trends’ – but he turned it on its head proving what we all know but perhaps haven’t yet voiced : ‘we all want what we all want – and we want it personalised, not ‘mass produced’.
Yesawich cited online jeans company, Zafu (www.zafu.com) as a case in point and heralded timeshare as the holiday product that gives the much-demanded personalisation of personal time!
The audience applauded.
David R. Clifton, Interval’s managing director for Europe, Middle East, Africa and Asia took the stage and presented the compelling case that timeshare makes to independent developers and hospitality companies, not least very attractive margins that knock the socks off those produced by traditional room stock.
Next on platform was Craig M. Nash, Interval’s CEO, who was encouraged to share his three-decade experience at the helm of the sector by local PR personality, Susan Furness.
Other sessions included a case study from Marriott Vacation Club International (MVCI), presented by Paula Woodgate, MVCI’s regional vice president. While Jose Ventura, managing director, Pam Golding Vacations in Property and Joop Demes, managing director, Golding Hotel Investment Consultants gave respectively insights into the hot topics of Fractionals and Condo-hotels. Darren Ettridge, Interval’s vice president resort sales and service (Europe) also talked about vacation ownership resort and unit design and what gives a room that all-important WOW factor.
Product design aside, there was also an all important panel session that threw the spotlight on the legislative environment in the Middle East – or lack of it.
Moderated by Tom Bell, Interval’s senior vice president government affairs, Bell told of the expected ‘all go’ Dubai legislation in Q3 2007, with panelists, Adel El Sherbini, chairman of Eygpt’s Sahara Touristic Development and Timeshare Association and Mark Bisch, partner at legal firm, Fulbright & Jaworski.
The event concluded with Furness moderating an ‘Audience ask the Leaders’ panel featuring amongst others Sherif Khalil, Interval’s regional manager for the Middle East, Darren Ettridge and Mohannad Sharafuddin, chairman of Arabian Falcon Holidays.
But, not before Dubai-based Sharafuddin was presented with a Middle East Pioneer’s Award by Nash and Clifton.
Sharafuddin told the audience that more than 3,000 vacation ownership members have understood the benefits and secured a timeshare unit at The Royal Club on Palm Jumeirah, with over 80 per cent of the membership held by Gulf nationals.
Meanwhile, in the eight years since launch, Arabian Falcon has enrolled in excess of 4,000 timeshare members for quality products in resort locations across Egypt, Lebanon and Tunisia.
“We have long-since believed in the potential of the timeshare and fractional ownership sector, thus focused the activities of Arabian Falcon Holidays on this niche, high-potential segment from the outset.
“Our mission is always to provide the highest quality vacation resorts and deliver excellent customer service to owners – and I am going to accept this award from my industry peers as recognition that we must be doing something right – and it is time for timeshare! Thank you!”
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