Bill Ryczek, a principal of Colebrook Financial Company, talks about the growth of his company—from a $2,683.11 initial investment in 1993 to being one of the leading lenders to the timeshare industry.
In the company’s recently-issued newsletter, The Colebrook Chronicle, Ryczek discusses the origins of the company, how it transitioned from a part-time investment to a full-time venture and some of the keys that made it happen. One of the most important ingredients for any company is money, and Ryczek notes that Colebrook currently has relationships with 14 banks. He is quoted in the article as saying, “We’ve been able to maintain the confidence of our banks most of all because the results have been good. We’ve done hundreds of millions of dollars in business with our banks and none has ever lost a dime.”
The Chronicle contains several articles of interest to professionals in the resort industry, including data from a Deloitte & Touche study reporting that timeshare sales experienced an uptick during the last quarter of 2016. The upswing of 6.4 percent – an increase from $1.664 to $1.771 billion – is a strong indicator of better days ahead.
Another article profiles ESJ Collections, which has committed $35 million towards a purpose-built, mixed use five-star property in San Juan, Puerto Rico. The company has already broken ground and commenced construction on ESJ Verde, after having completely renovated the iconic, 40-year-old El San Juan Hotel, which offers a vacation ownership component. A third project, ESJ Noir, is in the planning stage.
Colebrook’s newsletter generally contains at least one human interest story, and this issue’s offering tells how a law school graduate-cum-timeshare resort development president has somehow found the time and inner resources to encourage her six-year-old daughter’s flourishing modeling career. FantaSea Resort’s Roxanne Passarella shows how to be a strong leader both at home and in the business world.
Those grappling with issues attending the processing of credit cards will find an interview of Gildersleeve Partners, LLC, CEO Larry Gildersleeve to be of interest. Colebrook tops off the eight-pager with a report on the positive performance of its timeshare portfolio.
To read more, be sure to visit http://www.colebrookfinancial.com/wp-content/uploads/2017/06/ColebrookChron_Sum2017_web.pdf
About Colebrook Financial Company
Colebrook Financial Company is a lender specializing in the timeshare/shared ownership industry, providing hypothecation and other financing products for small and mid-sized developers in the US, Mexico and the Caribbean. Colebrook is large enough to provide financing in the $20-30 million range but small enough to deliver a unique brand of personal service. For further information call Bill Ryczek at 860-344-9396. For more information, visit ColebrookFinancial.com.